Civic Intelligence

The Learning First Foundation Inc

990 • Fiscal year 2020 • EIN 04-3319920

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 27, 2020

Organization ProfileLEARNINGFIRSTFOUNDATION.ORG
51 Gage StreetWorcester, MA 01605

(774) 420-7294

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.44x

Higher debt load relative to assets than 78% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

91st percentile

2.01x

Higher debt load relative to revenue than 91% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

77th percentile

25%

Higher net margin than 77% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

85th percentile

$155,806

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 16.7% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

5th percentile

-19%

Faster asset growth than 5% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

41st percentile

-3.9%

Faster revenue growth than 41% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$4,284,570

Down $993,259 (-19%) from 2019

Net Assets

Down

$2,406,205

Down $843,697 (-26%) from 2019

Liabilities

Down

$1,878,365

Down $149,562 (-7.4%) from 2019

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin77th percentile

Revenue

Down

$935,237

Down $37,510 (-3.9%) from 2019

Expenses

Down

$704,331

Down $67,321 (-8.7%) from 2019

Net Income

Up

$230,906

Up $29,811 (+15%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2011: $4,685,535Liabilities 2011: $2,988,434Net Assets 2011: $1,697,1012011Assets 2012: $4,751,179Liabilities 2012: $3,094,112Net Assets 2012: $1,657,0672012Assets 2013: $5,071,646Liabilities 2013: $3,051,067Net Assets 2013: $2,020,5792013Assets 2014: $5,133,821Liabilities 2014: $2,882,201Net Assets 2014: $2,251,6202014Assets 2015: $5,197,612Liabilities 2015: $2,815,649Net Assets 2015: $2,381,9632015Assets 2016: $5,232,204Liabilities 2016: $2,775,532Net Assets 2016: $2,456,6722016Assets 2017: $5,207,359Liabilities 2017: $2,410,372Net Assets 2017: $2,796,9872017Assets 2018: $5,244,734Liabilities 2018: $2,141,587Net Assets 2018: $3,103,1472018Assets 2019: $5,277,829Liabilities 2019: $2,027,927Net Assets 2019: $3,249,9022019Assets 2020: $4,284,570Liabilities 2020: $1,878,365Net Assets 2020: $2,406,2052020Assets 2021: $8,815,830Liabilities 2021: $6,027,654Net Assets 2021: $2,788,1762021Assets 2022: $16,820,822Liabilities 2022: $13,425,102Net Assets 2022: $3,395,7202022Assets 2023: $43,188,475Liabilities 2023: $39,272,400Net Assets 2023: $3,916,0752023Assets 2024: $23,169,628Liabilities 2024: $18,755,428Net Assets 2024: $4,414,2002024Assets 2025: $22,959,619Liabilities 2025: $18,294,467Net Assets 2025: $4,665,1522025

Highlighted filing

2020

Assets$4,284,570
Liabilities$1,878,365
Net Assets$2,406,205
Open 2020 Filing

Operations Trend

Revenue Growth41st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0Expenses 2011: $652,5272011Expenses 2012: $691,1702012Revenue 2013: $904,337Expenses 2013: $682,910Net Income 2013: $221,4272013Revenue 2014: $952,664Expenses 2014: $733,871Net Income 2014: $218,7932014Revenue 2015: $1,013,109Expenses 2015: $865,043Net Income 2015: $148,0662015Revenue 2016: $939,298Expenses 2016: $817,623Net Income 2016: $121,6752016Revenue 2017: $835,545Expenses 2017: $650,282Net Income 2017: $185,2632017Revenue 2018: $953,134Expenses 2018: $754,620Net Income 2018: $198,5142018Revenue 2019: $972,747Expenses 2019: $771,652Net Income 2019: $201,0952019Revenue 2020: $935,237Expenses 2020: $704,331Net Income 2020: $230,9062020Revenue 2021: $888,531Expenses 2021: $567,732Net Income 2021: $320,7992021Revenue 2022: $919,014Expenses 2022: $332,560Net Income 2022: $586,4542022Revenue 2023: $1,103,299Expenses 2023: $582,944Net Income 2023: $520,3552023Revenue 2024: $2,226,225Expenses 2024: $1,121,239Net Income 2024: $1,104,9862024Revenue 2025: $1,354,138Expenses 2025: $1,103,186Net Income 2025: $250,9522025

Highlighted filing

2020

Revenue$935,237
Expenses$704,331
Net Income$230,906
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 27, 2020
Return Version
2019v5.1
Gross Receipts
$935,237
Mission and Program Overview

Mission

Learning first foundation, inc. Is committed to supporting seven hills charter public school's efforts to improve the quality of public education in massachusetts. Learning first foundation will do this by holding the building, raising funds, and engaging the greater community in activities to help students, families, and teachers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,878,619$2,460,744▼ $417,875
Land, Buildings, and Equipment, Net$1,892,094$1,624,328▼ $267,766
Prepaid Expenses and Deferred Charges$324,624$17,694▼ $306,930
Total Assets$5,277,829$4,284,570▼ $993,259
Other Assets Total$182,492$181,804▼ $688
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,662,836$1,467,009▼ $195,827
Accounts Payable and Accrued Expenses$245,125$245,494▲ $369
Other Liabilities$119,966$165,862▲ $45,896
Total Liabilities$2,027,927$1,878,365▼ $149,562
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,249,902$2,406,205▼ $843,697
Total Net Assets Fund Balance$3,249,902$2,406,205▼ $843,697
Total Liabilities and Net Assets / Fund Balance$5,277,829$4,284,570▼ $993,259

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,034,894$3,628,773$4,663,667
Leasehold Improvements$533,545$1,064,890$1,598,435
Other Land Buildings$23,388$264,167$287,555
Land$32,501-$32,501
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rosie FayardExecutive DirectorFT$99,840$24,471$124,311
Cynthia KrackovicDirector of Finance-$13,696$1,885$15,581

Board Members and Trustees

NameTitle
John MasielloChair
Justin VernonVice Chair
Kham InthirathTrustee
Kunthavi JudeTrustee
Robert Bobby LemieuxTrustee
Kevin BradleyTrustee (until 11/19)
Elizabeth JohnsonSecretary/clerk
Shantie PrashadTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$109,393
Program Service Revenue
$813,800
Investment Income
$12,044
Other Revenue
$0
All Other Contributions
$109,393
Change in Net Assets
$230,906
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$643,161
Grants and Similar Amounts Paid$61,170
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$251,916--$251,916
Fees for Services Management-$128,934-$128,934
Interest$90,278--$90,278
Occupancy$59,984--$59,984
Grants to Domestic Orgs$46,290--$46,290
Insurance$37,607--$37,607
Fees for Services Accounting-$36,532-$36,532
Grants to Domestic Individuals$14,880--$14,880
Office Expenses-$13,814-$13,814
All Other Expenses$507$1,200-$1,707
Other Expenses$18,675$579-$579
Total Functional Expenses$520,137$184,194$0$704,331
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Seven Hills Charter Public SchoolWorcester, MAGovtImprove the Quality of Public Education in Massachusetts.$46,290
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Rate Swap$165,862
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by our outside accounting firm based on information provided by management. The form 990 is reviewed by management and provided to the board of trustees one week in advance of the next board meeting where the form 990 is discussed and voted upon by the full board. Upon approval, the form 990 is filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“All members of the board of directors and all officers fill out a questionnaire annually which is reviewed by the chair of the board or other designated person, as appropriate. They determine whether an actual or potential conflict exists. Members of the board with conflicts are barred from voting or participating in conflicting matters.”

Form 990, Part VI, Section C, Line 19

“Our form 1023 application, irs determination letter for tax exemption, and our forms 990 (current and prior three years) are available upon request. We also make our form 990-t available to the public upon request. Our form 990 is available on guidestar at www.guidestar.org. Our form 990 and audited financial statements are also available on the massachusetts attorney general's website at www.charities.ago.state.ma.us. The articles of incorporation, bylaws and conflict of interest policy are made available upon request.”

Filing and Contact Details

Filer

Filer Name
The Learning First Foundation Inc
EIN
04-3319920
Phone
7744207294
Address
51 GAGE STREET, WORCESTER, MA 01605

Signing Officer

Name
Justin Vernon
Title
Chair
Phone
7744207294
Signed
2020-10-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rosie Fayard
Formed
1996
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
8

Preparer

Firm
Cbiz Mhm LLC
Address
500 BOYLSTON STREET, BOSTON, MA 02116
Preparer
Brenda L Booth
Phone
6177610600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Unrealized loss on interest rate swap -45,897. Impairment loss -1,028,706.”

Financial Statement Notes

PART X, LINE 2:

“The corporation accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The corporation has identified its tax status as a tax-exempt entity as its only significant tax position and has determined that such tax position does not result in an uncertainty requiring recognition. The corporation is not currently under examination by any taxing jurisdiction. Its federal and state income tax returns are generally open for examination for the past three years following the dates filed.”

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IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0182492
IRS990/OtherAssetsTotalGrp/EOYAmt0181804
IRS990/OtherChangesInNetAssetsAmt0-1074603
IRS990/OtherExpensesGrp/Desc0REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1FUND DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2EMPLOYEE RECRUITMENT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03135
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1579
IRS990/OtherExpensesGrp/ProgramServicesAmt018675
IRS990/OtherExpensesGrp/TotalAmt018675
IRS990/OtherExpensesGrp/TotalAmt13135
IRS990/OtherExpensesGrp/TotalAmt2579
IRS990/OtherLiabilitiesGrp/BOYAmt0119966
IRS990/OtherLiabilitiesGrp/EOYAmt0165862
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0324624
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt017694
IRS990/PrincipalOfficerNm0ROSIE FAYARD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME-EXEMPT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0813800
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0813800
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0137948
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0102361
IRS990/PYInvestmentIncomeAmt020999
IRS990/PYOtherExpensesAmt0669291
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0813800
IRS990/PYRevenuesLessExpensesAmt0201095
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0771652
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0972747
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0230906
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0813800
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesEngagedOrgInvlmntInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesTestInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd01
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd01
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE LEARNING FIRST FOUNDATION, INC. IS COMMITTED TO SUPPORTING THE MISSION OF THE SEVEN HILLS CHARTER PUBLIC SCHOOL TO PREPARE A DIVERSE CROSS SECTION OF WORCESTER CHILDREN FOR SUCCESS AS STUDENTS, WORKERS AND CITIZENS BY PROVIDING THEM A HIGH QUALITY EDUCATION. LEARNING FIRST FOUNDATION, INC. ALSO OWNS THE PREMISES IN WHICH SEVEN HILLS CHARTER PUBLIC SCHOOL OPERATES, RAISES FUNDS AND ENGAGES IN ACTIVITIES SUPPORTING THE MISSION OF THE SCHOOL BY WHATEVER MEANS ARE DETERMINED BY THE BOARD OF TRUSTEES TO ACCOMPLISH THAT GOAL.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1LEARNING FIRST FOUNDATION, INC. IS A 501(C)(3) NOT FOR PROFIT ORGANIZATION DEDICATED TO ENSURING THE CONTINUITY AND SUSTAINABILITY OF SEVEN HILLS CHARTER PUBLIC SCHOOL, AS AN AGENT FOR PUBLIC SCHOOL REFORM THROUGH THE DEVELOPMENT OF PARTNERSHIPS SUPPORTING PUBLIC SCHOOL TEACHERS, FAMILIES AND COMMUNITY MEMBERS. LEARNING FIRST FOUNDATION IS COMMITTED TO SUPPORTING SEVEN HILLS CHARTER PUBLIC SCHOOL'S EFFORTS TO IMPROVE THE QUALITY OF PUBLIC EDUCATION IN MASSACHUSETTS. LEARNING FIRST FOUNDATION WILL DO THIS BY HOLDING THE BUILDING, RAISING FUNDS, AND ENGAGING THE GREATER COMMUNITY IN ACTIVITIES TO HELP STUDENTS, FAMILIES, AND TEACHERS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2AS STATED ABOVE, LEARNING FIRST FOUNDATION, INC. IS A 501(C)(3) NOT FOR PROFIT ORGANIZATION DEDICATED TO ENSURING THE CONTINUITY AND SUSTAINABILITY OF SEVEN HILLS CHARTER PUBLIC SCHOOL, AS AN AGENT FOR PUBLIC SCHOOL REFORM THROUGH THE DEVELOPMENT OF PARTNERSHIPS SUPPORTING PUBLIC SCHOOL TEACHERS, FAMILIES AND COMMUNITY MEMBERS. LEARNING FIRST FOUNDATION WOULD NEED TO ITSELF HOLD THE BUILDING, RAISE FUNDS, AND ENGAGE THE GREATER COMMUNITY IN ACTIVITIES TO HELP STUDENTS, FAMILIES, AND TEACHERS TO CARRY OUT ITS CHARITABLE PURPOSE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION D, LINE 3:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 2A:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION E, LINE 2B:
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0043319924
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt046290
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0SEVEN HILLS CHARTER PUBLIC SCHOOL
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt046290
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01034894
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03628773
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04663667
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt032501
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt032501
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0533545
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01064890
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01598435
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt023388
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0264167
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0287555
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0165862
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INTEREST RATE SWAP
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE CORPORATION HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AS ITS ONLY SIGNIFICANT TAX POSITION AND HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE CORPORATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. ITS FEDERAL AND STATE INCOME TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THE PAST THREE YEARS FOLLOWING THE DATES FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01624328
IRS990ScheduleD/TotalLiabilityAmt0165862
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt09000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt15880
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0PROMISING TEACHER SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1ALUMNI HS SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt03
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt15
IRS990ScheduleI/RecipientTable/CashGrantAmt046290
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOVT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0IMPROVE THE QUALITY OF PUBLIC EDUCATION IN MASSACHUSETTS.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SEVEN HILLS CHARTER PUBLIC SCHOOL
IRS990ScheduleI/RecipientTable/RecipientEIN0043319924
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt051 GAGE STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WORCESTER
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd001605
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIPS ARE GIVEN TO TEACHING ASSISTANTS WHO SUBMIT APPLICATIONS TO THE BOARD OF DIRECTORS. THE AWARD RECIPIENTS ARE REQUIRED TO PROVIDE PROOF OF COURSES TAKEN IN THE AMOUNT OF THE AWARD AND MUST ACHIEVE A "B OR ABOVE TO RECEIVE ACTUAL FUNDS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt013696
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0123262
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt01885
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt016963
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CYNTHIA KRACKOVIC
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR OF FINANCE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt015581
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0140225
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR OF THE ORGANIZATION HAS AN EMPLOYMENT CONTRACT WITH THE ORGANIZATION THAT HAS BEEN APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PREPARED BY OUR OUTSIDE ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. THE FORM 990 IS REVIEWED BY MANAGEMENT AND PROVIDED TO THE BOARD OF TRUSTEES ONE WEEK IN ADVANCE OF THE NEXT BOARD MEETING WHERE THE FORM 990 IS DISCUSSED AND VOTED UPON BY THE FULL BOARD. UPON APPROVAL, THE FORM 990 IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL MEMBERS OF THE BOARD OF DIRECTORS AND ALL OFFICERS FILL OUT A QUESTIONNAIRE ANNUALLY WHICH IS REVIEWED BY THE CHAIR OF THE BOARD OR OTHER DESIGNATED PERSON, AS APPROPRIATE. THEY DETERMINE WHETHER AN ACTUAL OR POTENTIAL CONFLICT EXISTS. MEMBERS OF THE BOARD WITH CONFLICTS ARE BARRED FROM VOTING OR PARTICIPATING IN CONFLICTING MATTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OUR FORM 1023 APPLICATION, IRS DETERMINATION LETTER FOR TAX EXEMPTION, AND OUR FORMS 990 (CURRENT AND PRIOR THREE YEARS) ARE AVAILABLE UPON REQUEST. WE ALSO MAKE OUR FORM 990-T AVAILABLE TO THE PUBLIC UPON REQUEST. OUR FORM 990 IS AVAILABLE ON GUIDESTAR AT WWW.GUIDESTAR.ORG. OUR FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE AT WWW.CHARITIES.AGO.STATE.MA.US. THE ARTICLES OF INCORPORATION, BYLAWS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UNREALIZED LOSS ON INTEREST RATE SWAP -45,897. IMPAIRMENT LOSS -1,028,706.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,284,570
Liabilities
$1,878,365
Net assets
$2,406,205
Revenue
$935,237
Expenses
$704,331
Net income
$230,906
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$23.0$18.3$4.67$1.35$1.10$0.25
2024Detailed filing. Detailed filing data is available for this year.$23.2$18.8$4.41$2.23$1.12$1.10
2023Detailed filing. Detailed filing data is available for this year.$43.2$39.3$3.92$1.10$0.58$0.52
2022Detailed filing. Detailed filing data is available for this year.$16.8$13.4$3.40$0.92$0.33$0.59
2021Detailed filing. Detailed filing data is available for this year.$8.82$6.03$2.79$0.89$0.57$0.32
2020Detailed filing. Detailed filing data is available for this year.$4.28$1.88$2.41$0.94$0.70$0.23
2019Detailed filing. Detailed filing data is available for this year.$5.28$2.03$3.25$0.97$0.77$0.20
2018Detailed filing. Detailed filing data is available for this year.$5.24$2.14$3.10$0.95$0.75$0.20
2017Detailed filing. Detailed filing data is available for this year.$5.21$2.41$2.80$0.84$0.65$0.19
2016Detailed filing. Detailed filing data is available for this year.$5.23$2.78$2.46$0.94$0.82$0.12
2015Detailed filing. Detailed filing data is available for this year.$5.20$2.82$2.38$1.01$0.87$0.15
2014Detailed filing. Detailed filing data is available for this year.$5.13$2.88$2.25$0.95$0.73$0.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.07$3.05$2.02$0.90$0.68$0.22
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.75$3.09$1.66$0.69
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.69$2.99$1.70$0.65