Civic Intelligence

Brighter Choice Elementary Charter Schools

990 • Fiscal year 2015 • EIN 14-1830897

Jul 01, 2014 to Jun 30, 2015 • Filed on Mar 02, 2016

116 North Lake AvenueAlbany, NY 12206

(518) 694-8200

Siviq Scores

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

Liabilities / Assets

96th percentile

1.24x

Higher debt load relative to assets than 96% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

88th percentile

2.28x

Higher debt load relative to revenue than 88% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

18th percentile

-9.6%

Higher net margin than 18% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

46th percentile

$110,856

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

33rd percentile

-2.4%

Faster asset growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

33rd percentile

-2.1%

Faster revenue growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Down

$7,986,581

Down $199,972 (-2.4%) from 2014

Net Assets

Down

-$1,889,608

Down $670,915 (-55%) from 2014

Liabilities

Up

$9,876,189

Up $470,943 (+5.0%) from 2014

Revenue

Down

$4,334,076

Down $91,430 (-2.1%) from 2014

Expenses

Up

$4,751,965

Up $102,626 (+2.2%) from 2014

Net Income

Down

-$417,889

Down $194,056 (-87%) from 2014

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2010: $8,344,027Liabilities 2010: $9,639,103Net Assets 2010: -$1,295,0762010Assets 2011: $8,809,747Liabilities 2011: $9,772,510Net Assets 2011: -$962,7632011Assets 2012: $8,430,114Liabilities 2012: $9,398,289Net Assets 2012: -$968,1752012Assets 2013: $8,441,715Liabilities 2013: $9,436,575Net Assets 2013: -$994,8602013Assets 2014: $8,186,553Liabilities 2014: $9,405,246Net Assets 2014: -$1,218,6932014Assets 2015: $7,986,581Liabilities 2015: $9,876,189Net Assets 2015: -$1,889,6082015Assets 2016: $7,423,979Liabilities 2016: $8,666,558Net Assets 2016: -$1,242,5792016Assets 2017: $8,178,268Liabilities 2017: $8,695,598Net Assets 2017: -$517,3302017Assets 2018: $8,249,955Liabilities 2018: $8,145,913Net Assets 2018: $104,0422018Assets 2019: $8,859,942Liabilities 2019: $8,147,463Net Assets 2019: $712,4792019Assets 2020: $9,782,032Liabilities 2020: $8,497,751Net Assets 2020: $1,284,2812020

Highlighted filing

2015

Assets$7,986,581
Liabilities$9,876,189
Net Assets-$1,889,608

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,437,4952010Revenue 2011: $4,070,172Expenses 2011: $3,737,859Net Income 2011: $332,3132011Expenses 2012: $4,275,4162012Revenue 2013: $4,293,380Expenses 2013: $4,320,065Net Income 2013: -$26,6852013Revenue 2014: $4,425,506Expenses 2014: $4,649,339Net Income 2014: -$223,8332014Revenue 2015: $4,334,076Expenses 2015: $4,751,965Net Income 2015: -$417,8892015Revenue 2016: $4,667,557Expenses 2016: $4,020,528Net Income 2016: $647,0292016Revenue 2017: $5,009,217Expenses 2017: $4,283,968Net Income 2017: $725,2492017Revenue 2018: $5,132,967Expenses 2018: $4,511,595Net Income 2018: $621,3722018Revenue 2019: $5,428,733Expenses 2019: $4,820,296Net Income 2019: $608,4372019Revenue 2020: $5,216,563Expenses 2020: $4,644,761Net Income 2020: $571,8022020

Highlighted filing

2015

Revenue$4,334,076
Expenses$4,751,965
Net Income-$417,889
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Mar 2, 2016
Return Version
2014v6.0
Gross Receipts
$4,334,076
Mission and Program Overview

Mission

Provide quality educational altrnative for at-risk elementary students in albany, ny.

Provide quality educational alternative for at-risk elementary students in albany, ny.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,356,253$6,102,501▼ $253,752
Intangible Assets$283,396$270,940▼ $12,456
Cash and Non-Interest-Bearing Accounts$111,736$171,089▲ $59,353
Accounts Receivable$449,243$138,609▼ $310,634
Inventories for Sale or Use$12,347--
Prepaid Expenses and Deferred Charges$3,009$825▼ $2,184
Total Assets$8,186,553$7,986,581▼ $199,972
Other Assets Total$970,569$1,302,617▲ $332,048
Liabilities
Tax Exempt Bond Liabilities$8,472,500$8,262,500▼ $210,000
Accounts Payable and Accrued Expenses$493,376$809,019▲ $315,643
Other Liabilities$425,693$804,670▲ $378,977
Deferred Revenue$13,677--
Total Liabilities$9,405,246$9,876,189▲ $470,943
Net Assets / Fund Balance
Temporarily Rstr Net Assets$436--
Unrestricted Net Assets$-1,219,129$-1,889,608▼ $670,479
Total Net Assets Fund Balance$-1,218,693$-1,889,608▼ $670,915
Total Liabilities and Net Assets / Fund Balance$8,186,553$7,986,581▼ $199,972

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,829,706$1,852,678$7,682,384
Equipment$162,795$491,852$654,647
Land$110,000-$110,000
Other Assets Org$263,619--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marcus PuccioniDirector of School QualityFT$27,714$83,142$110,856
Andrew GrebeDirector of Finance and OperationsPT$19,996$59,987$79,983

Board Members and Trustees

NameTitle
Martha SnyderChair
Nilsa VellaDirector
Ashleigh SmithTrustee
Trudy HamnerTrustee
Zoe NelsonSecretary
Shawn WallaceTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Durham BusBus Transportation830 SPEARL ST, Albanu, NY 12202$153,631
JanitronicsCleaning Service1988 CENTRAL AVE, Albany, NY 12205$102,396
Revenue and Support

Revenue Composition

Contributions and Grants
$428,040
Program Service Revenue
$3,851,978
Investment Income
$358
Other Revenue
$53,700
All Other Contributions
$23,672
Change in Net Assets
$-417,889

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,334,076
Total Revenue per Audited Statements
$4,334,076
Total Revenue per Form 990
$4,334,076
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,648,961
Other Expenses$2,103,004
Total Fundraising Expense$4,061
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,656,161$329,323$0$1,985,484
All Other Expenses$146,317$450,622$4,061$601,000
Interest$337,575$76,850$0$414,425
Other Employee Benefits$278,121$63,330$0$341,451
Depreciation Depletion$209,415$47,675$0$257,090
Payroll Taxes$131,539$29,937$0$161,476
Occupancy$116,880$17,564$0$134,444
Pension Plan Contributions$91,920$20,920$0$112,840
Other Expenses$73,594$14,773$0$88,367
Fees for Services Management$0$75,729$0$75,729
Current Officers, Directors, Trustees, and Key Employees$0$47,710$0$47,710
Insurance$32,336$4,859$0$37,195
Fees for Services Accounting$20,548$4,678$0$25,226
Fees for Services Legal$3,231$736$0$3,967
Fees for Services Other$2,274$518$0$2,792
Total Functional Expenses$3,525,153$1,222,751$4,061$4,751,965

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,751,965
Total Expenses per Audited Statements$4,751,965
Total Expenses per Form 990$4,751,965
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 Affiliates$707,719
Premium on Bond Payable$96,951

Bond Issues

BondIssuerIssuedIssue PricePurpose
DCity of Albany Ida2007-03-23$2,230,000Civic facility revenue bonds
ACity of Albany Ida2007-03-23$685,000Civic facility revenue bonds
BCity of Albany Ida2007-03-23$682,500Civic facility revenue bonds
CCity of Albany Ida2007-03-23$510,000Civic facility revenue bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A--$210,000-
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
No
Filing and Contact Details

Filer

Filer Name
Brighter Choice Charter School for Boys
EIN
14-1830897
Phone
5186948200
Address
116 North Lake Avenue, Albany, NY 12206

Signing Officer

Name
Martha Snyder
Title
Chair
Phone
5186948200
Signed
2016-03-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Martha Snyder
Formed
2001
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
97
Volunteers
5

Preparer

Firm
Cusack & Company CPAs LLC
Address
7 Airport Park Blvd, Latham, NY 12110
Preparer
Kenneth B Claflin CPA
Phone
5187863550
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

Form 990 is presented to the board of trustees prior to filing with the irs.

Pt VI, Line 12C

Every board trustee is required to complete an annual statement of financial disclosure for the school's annual report to the nys education department.

Pt VI, Line 15A

The principal and director of finance and operations are hired by the board of trustees.the principal is evaluated annually and compensation is based on prior year performance.

Pt VI, Line 15B

Compensation for all employees is approved by the board of trustees via the annual budget.

Form 990, Part IX, Line 24F

Bad debts 432261. 0. 432261. 0. Telephone and communication 21816. 18965. 2851. 0. Printing and postage 49394. 42941. 6453. 0. Student testing 10430. 10430. 0. 0. Minor equipment 34498. 30599. 3899. 0. Field trips 3852. 3852. 0. 0. Staff development 7361. 7361. 0. 0. Student uniforms 9510. 9510. 0. 0. Fundraising 4061. 0. 0. 4061. Other consultants 27817. 22659. 5158. 0.

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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0491852
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1263619
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY IS PUBLIZED IN THE NEWSPAPERS AND ON THE SCHOOL'S WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1A SUBSTANTIAL PORTION OF THE SCHOOL'S REVENUE IS DERIVED FROM SCHOOL DISTRICTS WHICH PAY THE SCHOOL BASED ON ENROLLMENT AT PUBLISHED RATES.REVENUE EARNED FROM OTHER GOVERNMENTAL SOURCES GENERALLY REPRESENTS VARIOUS ENTITLEMENT GRANTS AND IS RECOGNIZED AS EARNED.
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt32007-03-23
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt0685000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt1682500
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt2510000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt32230000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CITY OF ALBANY IDA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1CITY OF ALBANY IDA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt2CITY OF ALBANY IDA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt3CITY OF ALBANY IDA

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