Civic Intelligence

Kipp Academy Charter School

990 • Fiscal year 2016 • EIN 11-3550982

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 13, 2017

Organization ProfileWWW.KIPPNYC.ORG
250 East 156th Street 4th FloorNew York, NY 10451-4722

(212) 991-2600

Siviq Scores

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

Liabilities / Assets

56th percentile

0.40x

Higher debt load relative to assets than 56% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

26th percentile

0.09x

Higher debt load relative to revenue than 26% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Source year 2016

Net Margin

28th percentile

-2.7%

Higher net margin than 28% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

72nd percentile

$218,332

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2016 filings • NTEE B • $10M-$25M nonprofits • Source year 2016

Asset Growth

79th percentile

16%

Faster asset growth than 79% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

78th percentile

15%

Faster revenue growth than 78% of similar nonprofits.

2016 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$4,549,793

Up $627,185 (+16%) from 2015

Net Assets

Down

$2,752,015

Down $542,340 (-16%) from 2015

Liabilities

Up

$1,797,778

Up $1,169,525 (+186%) from 2015

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin28th percentile

Revenue

Up

$20,001,262

Up $2,643,570 (+15%) from 2015

Expenses

Up

$20,543,602

Up $2,940,892 (+17%) from 2015

Net Income

Down

-$542,340

Down $297,322 (-121%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $4,218,754Liabilities 2010: $839,447Net Assets 2010: $3,379,3072010Assets 2011: $4,437,172Liabilities 2011: $682,228Net Assets 2011: $3,754,9442011Assets 2012: $4,982,346Liabilities 2012: $583,950Net Assets 2012: $4,398,3962012Assets 2013: $4,820,853Liabilities 2013: $266,397Net Assets 2013: $4,554,4562013Assets 2014: $5,457,946Liabilities 2014: $1,918,573Net Assets 2014: $3,539,3732014Assets 2015: $3,922,608Liabilities 2015: $628,253Net Assets 2015: $3,294,3552015Assets 2016: $4,549,793Liabilities 2016: $1,797,778Net Assets 2016: $2,752,0152016Assets 2017: $4,523,370Liabilities 2017: $1,857,417Net Assets 2017: $2,665,9532017Assets 2018: $4,533,198Liabilities 2018: $1,733,455Net Assets 2018: $2,799,7432018Assets 2019: $7,496,841Liabilities 2019: $11,515,727Net Assets 2019: -$4,018,8862019Assets 2020: $4,494,202Liabilities 2020: $8,584,339Net Assets 2020: -$4,090,1372020Assets 2021: $4,926,906Liabilities 2021: $6,830,466Net Assets 2021: -$1,903,5602021Assets 2022: $3,116,286Liabilities 2022: $6,267,332Net Assets 2022: -$3,151,0462022Assets 2023: $2,879,322Liabilities 2023: $5,703,271Net Assets 2023: -$2,823,9492023Assets 2024: $6,867,764Liabilities 2024: $6,488,965Net Assets 2024: $378,7992024

Highlighted filing

2016

Assets$4,549,793
Liabilities$1,797,778
Net Assets$2,752,015
Open 2016 Filing

Operations Trend

Revenue Growth78th percentile

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

$40M$30M$20M$10M$0-$10MExpenses 2010: $7,210,3752010Expenses 2011: $9,070,5852011Expenses 2012: $10,902,5182012Revenue 2013: $13,844,901Expenses 2013: $13,688,841Net Income 2013: $156,0602013Revenue 2014: $19,265,089Expenses 2014: $20,280,172Net Income 2014: -$1,015,0832014Revenue 2015: $17,357,692Expenses 2015: $17,602,710Net Income 2015: -$245,0182015Revenue 2016: $20,001,262Expenses 2016: $20,543,602Net Income 2016: -$542,3402016Revenue 2017: $20,709,450Expenses 2017: $20,795,512Net Income 2017: -$86,0622017Revenue 2018: $21,831,017Expenses 2018: $21,697,227Net Income 2018: $133,7902018Revenue 2019: $23,947,283Expenses 2019: $30,765,912Net Income 2019: -$6,818,6292019Revenue 2020: $20,855,843Expenses 2020: $20,927,094Net Income 2020: -$71,2512020Revenue 2021: $23,793,975Expenses 2021: $21,607,398Net Income 2021: $2,186,5772021Revenue 2022: $23,658,614Expenses 2022: $24,906,100Net Income 2022: -$1,247,4862022Revenue 2023: $24,988,156Expenses 2023: $24,426,874Net Income 2023: $561,2822023Revenue 2024: $25,975,572Expenses 2024: $22,772,824Net Income 2024: $3,202,7482024

Highlighted filing

2016

Revenue$20,001,262
Expenses$20,543,602
Net Income-$542,340
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 13, 2017
Return Version
2015v3.0
Gross Receipts
$20,001,262
Mission and Program Overview

Mission

Kipp academy charter school's mission is to teach students to develop the academic and character skills necessary for success in high school and college, to be self-sufficient in the competitive world beyond, and to build a better tomorrow for themselves and us all.

Operate and maintain a public school chartered by the new york state board of regents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,278,409$3,715,380▲ $2,436,971
Savings and Temporary Cash Investments$2,057,884$0▼ $2,057,884
Land, Buildings, and Equipment, Net$254,559$457,528▲ $202,969
Pledges and Grants Receivable$261,071$324,305▲ $63,234
Prepaid Expenses and Deferred Charges$70,685$52,580▼ $18,105
Total Assets$3,922,608$4,549,793▲ $627,185
Liabilities
Other Liabilities$412,668$1,553,455▲ $1,140,787
Accounts Payable and Accrued Expenses$215,585$243,736▲ $28,151
Deferred Revenue-$587-
Total Liabilities$628,253$1,797,778▲ $1,169,525
Net Assets / Fund Balance
Unrestricted Net Assets$3,287,624$2,747,132▼ $540,492
Temporarily Rstr Net Assets$6,731$4,883▼ $1,848
Total Net Assets Fund Balance$3,294,355$2,752,015▼ $542,340
Total Liabilities and Net Assets / Fund Balance$3,922,608$4,549,793▲ $627,185

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$138,914$1,717,357$1,856,271
Leasehold Improvements$221,697$70,640$292,337
Other Land Buildings$96,917$50,963$147,880
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Francis CorcoranPrincipalFT$151,000$30,039$181,039
Mitchell BrennerAssistant PrincipalFT$95,435$12,806$108,241
Natalie WebbPrincipalPT$51,036$8,069$59,105
Barbara DepesaAssistant PrincipalPT$45,701$7,239$52,940
Anne WoodsDean/history TeacherPT$38,682$10,513$49,195
Hugh ChenDirector of CounselingPT$38,395$8,564$46,959
Carlos CapellanAssistant PrincipalPT$41,322$5,276$46,598
James ManlySuperintendentPT$38,105$1,605$39,710

Board Members and Trustees

NameTitle
Rafael MayerChairman, Treasurer & Trus
Brian ZiedTrustee
Gwendolyn BrunsonTrustee
Joseph NegronTrustee
Lisa BlauTrustee
Stephanie ColemanTrustee
Whitney TilsonTrustee
Philip MactaggartTrustee (resigned 9/2/15)
Charizma WilliamsChief Financial Officer
Alicia JohnsonChief Operating Officer
Jack ChorowskySecretary (resigned 6/22/16)

Highest Paid Contractors

ContractorServicesLocationCompensation
Kipp New York LLCManagement Fee470 7TH AVENUE 10TH FLOOR, New York, NY 10027$1,907,355
Revenue and Support

Revenue Composition

Contributions and Grants
$2,597,760
Program Service Revenue
$17,403,502
Investment Income
$0
Other Revenue
$0
All Other Contributions
$814,879
Change in Net Assets
$-542,340

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$71,253
Total Noncash Contributions1$71,253

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,001,262
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$20,001,262
Total Revenue per Form 990
$20,001,262
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$14,603,086
Other Expenses$5,936,978
Grants and Similar Amounts Paid$3,538
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,860,654--$10,860,654
Fees for Services Management-$1,998,438-$1,998,438
Other Employee Benefits$1,390,180--$1,390,180
Payroll Taxes$981,721--$981,721
Fees for Services Other$840,135--$840,135
Pension Plan Contributions$799,631--$799,631
Information Technology$707,062--$707,062
Current Officers, Directors, Trustees, and Key Employees$570,900--$570,900
Occupancy$377,452--$377,452
All Other Expenses$305,654$5,317-$310,971
Insurance$194,603--$194,603
Other Expenses$189,969--$189,969
Depreciation Depletion$148,337--$148,337
Fees for Services Accounting$24,032--$24,032
Office Expenses$23,176--$23,176
Fees for Services Legal$3,678--$3,678
Grants to Domestic Orgs$3,538--$3,538
Total Functional Expenses$18,539,847$2,003,755$0$20,543,602

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$20,543,602
Total Expenses per Audited Statements$20,543,602
Total Expenses per Form 990$20,543,602
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Due to Related Parties$1,553,455
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization has a service agreement with kipp nyc, llc (a disregarded entity of kipp new york, inc), a related entity which provides operational and administrative support to the school. Included in these services provided are human resources, technology, data, operations, finance and accounting, recuiting, fundraising, instructional training and progress monitoring.”

Form 990, Part VI, Section B, Line 11

“Management will provide the form 990 to the board of trustees before it is submitted.”

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

“As part of our annual audit process, we review all transactions to confirm the absence of any potential conflicts of interest. We also require trustees to annually complete disclosure forms detailing any transactions that may present potential conflicts of interest. These signed disclosures are maintained by the organization and are also submitted to the department of education of new york state. If a conflict or potential conflict is identified, the board's independent trustees review the transaction in question to determine its propriety, its impact on the organization and the availability of, and need for, any corrective measures.”

Form 990, Part VI, Section B, Line 15

“The organization's and related organization's determination of compensation for the superintendent, coo, cfo, managing director and principal positions are based on compensation surveys, related market research, evaluation of performance, and experience. Compensation for the aformentioned positions are approved by the board of the respective organizations. The most recent review was completed in 2015.”

Form 990, Part VI, Section C, Line 19

“The organization makes its form 990 available to the public upon written request. It is also available at www.guidestar.com, a public website. The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Kipp Academy Charter School
EIN
11-3550982
Phone
2129912600
Address
250 EAST 156TH STREET 4TH FLOOR, NEW YORK, NY 10451-4722

Signing Officer

Name
Charizma Williams
Title
CFO
Phone
2129912600
Signed
2017-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charizma Williams
Formed
1995
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
145
Volunteers
118

Preparer

Firm
Cliftonlarsonallen Llp
Address
610 W GERMANTOWN PIKE STE 400, PLYMOUTH MEETING, PA 19462
Preparer
Dave Sekerak
Phone
2156433900
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization has a committee that assumes responsibility for the oversight of the audit of the financial statements and the selection of an independent auditor.”

Financial Statement Notes

PART X, LINE 2:

“The school is exempt from federal income taxes under section 501(c)(3) of the internal revenue service code and applicable income tax regulations of the state of new york. No provision for income taxes has been established, as the school has no related business activity. The school follows the guidance in the income tax standard regarding the recognition and measurement of uncertain tax positions. The guidance clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements. The guidance further prescribes recognition and measurement of tax provisions taken or expected to be taken on a tax return that are certain to be realized. This standard has no impact on the school's financial statements.”

Raw XML AppendixShowing 400 of 733 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHAIRMAN, TREASURER & TRUS
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE (RESIGNED 9/2/15)
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8SUPERINTENDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9SECRETARY (RESIGNED 6/22/16)
IRS990/Form990PartVIISectionAGrp/TitleTxt10CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt12PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt13PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt14ASSISTANT PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt15ASSISTANT PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt16ASSISTANT PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt17DEAN/HISTORY TEACHER
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR OF COUNSELING
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IRS990/InsuranceGrp/ProgramServicesAmt0194603
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0KIPP ACADEMY CHARTER SCHOOL'S MISSION IS TO TEACH STUDENTS TO DEVELOP THE ACADEMIC AND CHARACTER SKILLS NECESSARY FOR SUCCESS IN HIGH SCHOOL AND COLLEGE, TO BE SELF-SUFFICIENT IN THE COMPETITIVE WORLD BEYOND, AND TO BUILD A BETTER TOMORROW FOR THEMSELVES AND US ALL.
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0SUPPLIES
IRS990/OtherExpensesGrp/Desc1ACADEMIC PROGRAMMING
IRS990/OtherExpensesGrp/Desc2EQUIPMENT & MAINTENANCE
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL DEVELOPMEN
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IRS990/OtherExpensesGrp/ProgramServicesAmt2259773
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IRS990/OtherExpensesGrp/TotalAmt1298560
IRS990/OtherExpensesGrp/TotalAmt2259773
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt052580
IRS990/PrincipalOfficerNm0CHARIZMA WILLIAMS
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ReportOtherLiabilitiesInd01
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE SERVICE CODE AND APPLICABLE INCOME TAX REGULATIONS OF THE STATE OF NEW YORK. NO PROVISION FOR INCOME TAXES HAS BEEN ESTABLISHED, AS THE SCHOOL HAS NO RELATED BUSINESS ACTIVITY. THE SCHOOL FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX PROVISIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE CERTAIN TO BE REALIZED. THIS STANDARD HAS NO IMPACT ON THE SCHOOL'S FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,549,793
Liabilities
$1,797,778
Net assets
$2,752,015
Revenue
$20,001,262
Expenses
$20,543,602
Net income
-$542,340
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.87$6.49$0.38$26.0$22.8$3.20
2023Detailed filing. Detailed filing data is available for this year.$2.88$5.70$2.82$25.0$24.4$0.56
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.12$6.27$3.15$23.7$24.9$1.25
2021Detailed filing. Detailed filing data is available for this year.$4.93$6.83$1.90$23.8$21.6$2.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.49$8.58$4.09$20.9$20.9$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.50$11.5$4.02$23.9$30.8$6.82
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.53$1.73$2.80$21.8$21.7$0.13
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.52$1.86$2.67$20.7$20.8$0.09
2016Detailed filing. Detailed filing data is available for this year.$4.55$1.80$2.75$20.0$20.5$0.54
2015Detailed filing. Detailed filing data is available for this year.$3.92$0.63$3.29$17.4$17.6$0.25
2014Detailed filing. Detailed filing data is available for this year.$5.46$1.92$3.54$19.3$20.3$1.02
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.82$0.27$4.55$13.8$13.7$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.98$0.58$4.40$10.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.44$0.68$3.75$9.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.22$0.84$3.38$7.21