Civic Intelligence

Friends of Island Academy Inc

990 • Fiscal year 2014 • EIN 13-3576756

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 21, 2014

127 W 127th Street Suite 127New York, NY 10027

(212) 760-0755

Siviq Scores

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

Liabilities / Assets

94th percentile

1.25x

Higher debt load relative to assets than 94% of similar nonprofits.

2014 filings • NTEE P • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

63rd percentile

0.19x

Higher debt load relative to revenue than 63% of similar nonprofits.

2014 filings • NTEE P • $1M-$5M nonprofits • Source year 2014

Net Margin

68th percentile

6.4%

Higher net margin than 68% of similar nonprofits.

2014 filings • NTEE P • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

62nd percentile

$96,593

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

2014 filings • NTEE P • $1M-$5M nonprofits • Source year 2014

Asset Growth

83rd percentile

25%

Faster asset growth than 83% of similar nonprofits.

2014 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

83rd percentile

27%

Faster revenue growth than 83% of similar nonprofits.

2014 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$264,749

Up $52,100 (+25%) from 2013

Net Assets

Up

-$64,979

Up $112,781 (+63%) from 2013

Liabilities

Down

$329,728

Down $60,681 (-16%) from 2013

Revenue

Up

$1,772,067

Up $374,184 (+27%) from 2013

Expenses

Up

$1,659,286

Up $176,659 (+12%) from 2013

Net Income

Up

$112,781

Up $197,525 (+233%) from 2013

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $441,044Liabilities 2010: $553,168Net Assets 2010: -$112,1242010Assets 2011: $108,857Liabilities 2011: $614,542Net Assets 2011: -$505,6852011Assets 2012: $157,481Liabilities 2012: $250,497Net Assets 2012: -$93,0162012Assets 2013: $212,649Liabilities 2013: $390,409Net Assets 2013: -$177,7602013Assets 2014: $264,749Liabilities 2014: $329,728Net Assets 2014: -$64,9792014Assets 2015: $186,092Liabilities 2015: $332,312Net Assets 2015: -$146,2202015Assets 2016: $284,472Liabilities 2016: $467,206Net Assets 2016: -$182,7342016Assets 2017: $650,311Liabilities 2017: $842,047Net Assets 2017: -$191,7362017Assets 2018: $1,522,622Liabilities 2018: $1,272,242Net Assets 2018: $250,3802018Assets 2019: $2,363,372Liabilities 2019: $1,927,286Net Assets 2019: $436,0862019Assets 2020: $1,952,674Liabilities 2020: $2,195,113Net Assets 2020: -$242,4392020Assets 2021: $2,440,939Liabilities 2021: $2,969,562Net Assets 2021: -$528,6232021Assets 2022: $2,112,289Liabilities 2022: $887,199Net Assets 2022: $1,225,0902022Assets 2023: $2,722,565Liabilities 2023: $2,280,060Net Assets 2023: $442,5052023Assets 2024: $2,164,895Liabilities 2024: $1,955,131Net Assets 2024: $209,7642024

Highlighted filing

2014

Assets$264,749
Liabilities$329,728
Net Assets-$64,979

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $1,175,3742010Expenses 2011: $1,205,0242011Revenue 2012: $1,031,123Expenses 2012: $698,754Net Income 2012: $332,3692012Revenue 2013: $1,397,883Expenses 2013: $1,482,627Net Income 2013: -$84,7442013Revenue 2014: $1,772,067Expenses 2014: $1,659,286Net Income 2014: $112,7812014Revenue 2015: $1,781,399Expenses 2015: $1,862,640Net Income 2015: -$81,2412015Revenue 2016: $1,836,612Expenses 2016: $1,873,126Net Income 2016: -$36,5142016Revenue 2017: $3,429,563Expenses 2017: $3,438,565Net Income 2017: -$9,0022017Revenue 2018: $7,347,982Expenses 2018: $6,905,866Net Income 2018: $442,1162018Revenue 2019: $8,847,908Expenses 2019: $8,662,202Net Income 2019: $185,7062019Revenue 2020: $6,295,354Expenses 2020: $6,973,879Net Income 2020: -$678,5252020Revenue 2021: $5,032,293Expenses 2021: $5,318,477Net Income 2021: -$286,1842021Revenue 2022: $6,485,037Expenses 2022: $4,731,324Net Income 2022: $1,753,7132022Revenue 2023: $4,149,377Expenses 2023: $4,931,962Net Income 2023: -$782,5852023Revenue 2024: $5,244,492Expenses 2024: $5,477,233Net Income 2024: -$232,7412024

Highlighted filing

2014

Revenue$1,772,067
Expenses$1,659,286
Net Income$112,781
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 21, 2014
Return Version
2013v3.1
Gross Receipts
$1,772,067
Mission and Program Overview

Mission

Youth are provided a sense of belonging and opportunities for achievement by mapping out personal milestone goals along five key program domains: education, employability/employment, health and well-being, community participation and recreation and arts. The longer they remain engaged by and connected to Friends, the greater the influence the organization has on their trajectory to becoming economically independent adults, connected to their communities in positive ways.Friends services are offered to court-involved youth in and out of custody of the Citys system of adult and juvenile jails and custodial facilities. For youth in custody, services are offered pre-release, during transition and post-release, with youth who were in the custody of the Citys justice system jails and detention centers, fostering connections and sustaining relationships with young people throughout the process. Through developmentally appropriate programming and evidence-based supports, Friends helps facilita

Friends of Island Academy breaks cycles of incarceration by providing opportunities for positive youth development among young people released from custody in New York City. (Continued on Schedule O) Friends was founded in 1990 at an alternative high school on Rikers Islandknown then as Island Academyto address recidivism rates, untapped potential and disproportionate confinement of people of color among the thousands of adolescents who attended school on Rikers Island every year. The organization leverages the strengths, resilience and hopefulness of youth to navigate obstacles and transform their lives and communities for the better. Though the scope of services has broadened over the last two decades, the organizations core mission remains unchanged.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$148,916$164,377▲ $15,461
Cash and Non-Interest-Bearing Accounts$53,374$90,654▲ $37,280
Land, Buildings, and Equipment, Net$3,552$6,616▲ $3,064
Prepaid Expenses and Deferred Charges$2,360$2,977▲ $617
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$212,649$264,749▲ $52,100
Other Assets Total$4,447$125▼ $4,322
Liabilities
Accounts Payable and Accrued Expenses$129,112$148,001▲ $18,889
Mortgage Notes Payable Secured by Investment Property$210,847$94,270▼ $116,577
Other Liabilities$50,450$87,457▲ $37,007
Total Liabilities$390,409$329,728▼ $60,681
Net Assets / Fund Balance
Temporarily Rstr Net Assets$85,274$10,274▼ $75,000
Unrestricted Net Assets$-263,034$-75,253▲ $187,781
Total Net Assets Fund Balance$-177,760$-64,979▲ $112,781
Total Liabilities and Net Assets / Fund Balance$212,649$264,749▲ $52,100

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$685$141,091$141,776
Equipment$950$108,048$108,998
Leasehold Improvements$4,981$8,735$13,716
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Christine PahigianExec. DirectorFT$96,593$96,593

Board Members and Trustees

NameTitle
Mark B RubinChair
Anne SiegelBoard member
Deborah MartinBoard Member
Devin McGrathBoard member
Elida FahieBoard Member
Joel BrossBoard Member
Michael CorrieroBoard Member
Neil CallahanBoard Member
Richard WecshlerBoard Member
Ellen FriedSecretary
Scott SimonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,166,965
Program Service Revenue
$604,457
Investment Income
$146
Other Revenue
$499
All Other Contributions
$528,859
Change in Net Assets
$112,781

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,772,067
Total Revenue per Audited Statements
$1,772,067
Total Revenue per Form 990
$1,772,067
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,340,178
Other Expenses$302,858
Total Fundraising Expense$83,782
Professional Fundraising Fees$16,250
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$837,582$99,608$4,312$941,502
Other Employee Benefits$174,361$4,894$275$179,530
Payroll Taxes$92,056$13,066$4,681$109,803
Current Officers, Directors, Trustees, and Key Employees$15,431$49,209$44,703$109,343
Occupancy$60,313$6,275$3,014$69,602
Office Expenses$23,384$15,858$1,156$40,398
Information Technology$32,646$7,379$344$40,369
Fees for Services Legal-$33,475-$33,475
Insurance$31,407$856$594$32,857
Fees for Services Other$17,000$1,075-$18,075
Fees for Services Professional Fundraising--$16,250$16,250
Interest-$201$7,795$7,996
Depreciation Depletion-$3,596-$3,596
Travel$2,479$43-$2,522
Other Expenses$1,875$167$658$2,042
Conferences and Meetings$250$613-$863
Total Functional Expenses$1,333,358$242,146$83,782$1,659,286

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,659,286
Total Expenses per Audited Statements$1,659,286
Total Expenses per Form 990$1,659,286
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$16,250
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advance$87,457
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The Form 990 is preliminary reviewed by the Independent CPA and the Executive Director. The draft Form 990 is then forwarded to the Executive Committee for review and final approval.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The initial compensation is determined by a combination of organizational capacity, comparable non-profit executive salary and incumbent qualification. Increase in compensation is determined after review/evaluation conducted by Board Executive Committee.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization makes it governing documents, conflict of interest policy and financial statements available to public upon request.

Filing and Contact Details

Filer

EIN
13-3576756
Phone
2127600755

Signing Officer

Name
Christine Pahigian
Title
Exec. Director
Signed
2014-11-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christine Pahigian
Formed
1990
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
11
Employees
27
Volunteers
11

Preparer

Preparer
Cazembe Bektemba CPA
Phone
2124477300
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: Employability, career readiness and job placement services provided through a combination of skills workshops and individualized planning and counseling.

PART I, LINE 1 ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES

(Continued from Page 1) Friends was founded in 1990 at an alternative high school on Rikers Islandknown then as Island Academyto address recidivism rates, untapped potential and disproportionate confinement of people of color among the thousands of adolescents who attended school on Rikers Island every year. The organization leverages the strengths, resilience and hopefulness of youth to navigate obstacles and transform their lives and communities for the better. Though the scope of services has broadened over the last two decades, the organizations core mission remains unchanged.

Financial Statement Notes

Part X : FIN48 Footnote

Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by Friends and recognize a tax liability if Friends has taken an uncertain tax position that more likely than not would be sustained upon examination by the Internal Revenue Service. Friends is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations prior to 2011.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Mark B Rubin
IRS990/Form990PartVIISectionAGrp/PersonNm1Scott Simon
IRS990/Form990PartVIISectionAGrp/PersonNm2Ellen Fried
IRS990/Form990PartVIISectionAGrp/PersonNm3Joel Bross
IRS990/Form990PartVIISectionAGrp/PersonNm4Neil Callahan
IRS990/Form990PartVIISectionAGrp/PersonNm5Michael Corriero
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IRS990/Form990PartVIISectionAGrp/PersonNm7Deborah Martin
IRS990/Form990PartVIISectionAGrp/PersonNm8Devin McGrath
IRS990/Form990PartVIISectionAGrp/PersonNm9Anne Siegel
IRS990/Form990PartVIISectionAGrp/PersonNm10Richard Wecshler
IRS990/Form990PartVIISectionAGrp/PersonNm11CHRISTINE PAHIGIAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
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IRS990/MissionDesc0Youth are provided a sense of belonging and opportunities for achievement by mapping out personal milestone goals along five key program domains: education, employability/employment, health and well-being, community participation and recreation and arts. The longer they remain engaged by and connected to Friends, the greater the influence the organization has on their trajectory to becoming economically independent adults, connected to their communities in positive ways.Friends services are offered to court-involved youth in and out of custody of the Citys system of adult and juvenile jails and custodial facilities. For youth in custody, services are offered pre-release, during transition and post-release, with youth who were in the custody of the Citys justice system jails and detention centers, fostering connections and sustaining relationships with young people throughout the process. Through developmentally appropriate programming and evidence-based supports, Friends helps facilita
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IRS990/ProgSrvcAccomActy2Grp/Desc0COMMUNITY BASED PROGRAM - To address intergenerational cycles of incarceration, Friends provides services and support to fathers involved with the Bronx courts. Operating out of a community center in a New York City Housing development, Friends provides services to non-custodial fathers in order to increase their engagement and involvement with their children, improve cognitive-behavioral skills and facilitate employment and child support.
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IRS990/ProgSrvcAccomActy3Grp/Desc0EDUCATION PROGRAM - Provides key services to ensure that young people either returning home from custody or otherwise court-involved advance academically by accumulating credits toward a secondary degree and beyond. Youth Advocates support educational enrollment, retention and advancement; connect youth to degree programs and provide in-house tutoring and educational preparation.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.16$1.96$0.21$5.24$5.48$0.23
2023Detailed filing. Detailed filing data is available for this year.$2.72$2.28$0.44$4.15$4.93$0.78
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.11$0.89$1.23$6.49$4.73$1.75
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$2.97$0.53$5.03$5.32$0.29
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.95$2.20$0.24$6.30$6.97$0.68
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.36$1.93$0.44$8.85$8.66$0.19
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.52$1.27$0.25$7.35$6.91$0.44
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.65$0.84$0.19$3.43$3.44$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.28$0.47$0.18$1.84$1.87$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.19$0.33$0.15$1.78$1.86$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.26$0.33$0.06$1.77$1.66$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.39$0.18$1.40$1.48$0.08
2012Summary only. Only limited summary data is available for this year.$0.16$0.25$0.09$1.03$0.70$0.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.11$0.61$0.51$1.21
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.55$0.11$1.18
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • NTEE P300 • $1M-$5M nonprofits