Civic Intelligence

Propel Schools Foundation

990 • Fiscal year 2015 • EIN 20-1100962

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

Organization Profilepropelschools.org
3447 E Carson StPittsburgh, PA 15203

(412) 325-7305

Siviq Scores

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

Liabilities / Assets

10th percentile

0.01x

Higher debt load relative to assets than 10% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

10th percentile

0.02x

Higher debt load relative to revenue than 10% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

92nd percentile

52%

Higher net margin than 92% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

73rd percentile

8.3%

Faster asset growth than 73% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

91st percentile

51%

Faster revenue growth than 91% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$10,945,290

Up $839,996 (+8.3%) from 2014

Net Assets

Up

$10,886,322

Up $1,370,623 (+14%) from 2014

Liabilities

Down

$58,968

Down $530,627 (-90%) from 2014

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin92nd percentile

Revenue

Up

$2,640,499

Up $889,239 (+51%) from 2014

Expenses

Down

$1,256,260

Down $221,096 (-15%) from 2014

Net Income

Up

$1,384,239

Up $1,110,335 (+405%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $6,857,873Liabilities 2011: $247,713Net Assets 2011: $6,610,1602011Assets 2012: $8,004,510Liabilities 2012: $114,579Net Assets 2012: $7,889,9312012Assets 2013: $9,054,522Liabilities 2013: $474,810Net Assets 2013: $8,579,7122013Assets 2014: $10,105,294Liabilities 2014: $589,595Net Assets 2014: $9,515,6992014Assets 2015: $10,945,290Liabilities 2015: $58,968Net Assets 2015: $10,886,3222015Assets 2016: $10,794,119Liabilities 2016: $250,527Net Assets 2016: $10,543,5922016Assets 2017: $11,991,636Liabilities 2017: $296,438Net Assets 2017: $11,695,1982017Assets 2018: $13,563,175Liabilities 2018: $322,435Net Assets 2018: $13,240,7402018Assets 2019: $13,724,831Liabilities 2019: $422,568Net Assets 2019: $13,302,2632019Assets 2020: $12,968,673Liabilities 2020: $378,867Net Assets 2020: $12,589,8062020Assets 2021: $15,165,649Liabilities 2021: $188,215Net Assets 2021: $14,977,4342021Assets 2022: $14,353,776Liabilities 2022: $143,236Net Assets 2022: $14,210,5402022Assets 2023: $16,113,685Liabilities 2023: $191,790Net Assets 2023: $15,921,8952023Assets 2024: $16,476,723Liabilities 2024: $191,075Net Assets 2024: $16,285,6482024

Highlighted filing

2015

Assets$10,945,290
Liabilities$58,968
Net Assets$10,886,322
Open 2015 Filing

Operations Trend

Revenue Growth91st percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2011: $1,243,291Expenses 2011: $568,835Net Income 2011: $674,4562011Revenue 2012: $2,046,018Expenses 2012: $766,247Net Income 2012: $1,279,7712012Revenue 2013: $1,717,784Expenses 2013: $1,180,480Net Income 2013: $537,3042013Revenue 2014: $1,751,260Expenses 2014: $1,477,356Net Income 2014: $273,9042014Revenue 2015: $2,640,499Expenses 2015: $1,256,260Net Income 2015: $1,384,2392015Revenue 2016: $1,454,682Expenses 2016: $1,611,996Net Income 2016: -$157,3142016Revenue 2017: $2,406,388Expenses 2017: $2,118,209Net Income 2017: $288,1792017Revenue 2018: $3,083,519Expenses 2018: $2,060,000Net Income 2018: $1,023,5192018Revenue 2019: $1,568,385Expenses 2019: $1,938,111Net Income 2019: -$369,7262019Revenue 2020: $1,295,136Expenses 2020: $2,258,890Net Income 2020: -$963,7542020Revenue 2021: $887,357Expenses 2021: $1,427,595Net Income 2021: -$540,2382021Revenue 2022: $2,693,560Expenses 2022: $1,033,994Net Income 2022: $1,659,5662022Revenue 2023: $2,079,115Expenses 2023: $1,368,491Net Income 2023: $710,6242023Revenue 2024: $700,229Expenses 2024: $1,734,537Net Income 2024: -$1,034,3082024

Highlighted filing

2015

Revenue$2,640,499
Expenses$1,256,260
Net Income$1,384,239
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 1, 2016
Return Version
2014v6.0
Gross Receipts
$2,660,990
Mission and Program Overview

Mission

Assist the start-up and operations of charter schools in western pennsylvania.

Assist the start-up and operations of Charter Schools in Western Pennsylvania

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,834,319$8,061,674▲ $2,227,355
Other Notes and Loans Receivable, Net$1,046,570$2,085,241▲ $1,038,671
Pledges and Grants Receivable$369,169$268,286▼ $100,883
Savings and Temporary Cash Investments$2,526,186$250,338▼ $2,275,848
Cash and Non-Interest-Bearing Accounts$288,743$163,009▼ $125,734
Accounts Receivable$40,307$116,742▲ $76,435
Total Assets$10,105,294$10,945,290▲ $839,996
Liabilities
Deferred Revenue$384,477--
Escrow Account Liability$24,601$53,969▲ $29,368
Accounts Payable and Accrued Expenses$180,517$4,999▼ $175,518
Total Liabilities$589,595$58,968▼ $530,627
Net Assets / Fund Balance
Unrestricted Net Assets$8,468,550$10,013,603▲ $1,545,053
Temporarily Rstr Net Assets$1,047,149$872,719▼ $174,430
Total Net Assets Fund Balance$9,515,699$10,886,322▲ $1,370,623
Total Liabilities and Net Assets / Fund Balance$10,105,294$10,945,290▲ $839,996
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleBaseOtherTotal
Kiron SkinnerTrustee$162,336$149,953$312,289
Wendy Etheridge-smithTrustee-$16,097$16,097

Board Members and Trustees

NameTitle
Stewart BarmenTrustee-President
Jeremy ResnickDirector of Development, Executive Director of Foundation
Anne DuganTrustee
Brendan W SurmaTrustee
David FairTrustee
Ilana DiamondTrustee
James EganTrustee
Linda PoolTrustee
Marcia KelsonTrustee
Pat PolanskyTrustee
Roland CriswellTrustee
Steve RobinsonTrustee
William AxtmanTrustee
Joshua CothermanTrustee-Secretary
Thomas CanfieldTrustee-Treasurer
Patrick KennyTrustee-V. Pres.
Jeremy Resnick-
Darryl RobinsonBusiness Manager
Revenue and Support

Revenue Composition

Contributions and Grants
$2,303,162
Program Service Revenue
$32,573
Investment Income
$325,255
Other Revenue
$-20,491
All Other Contributions
$1,439,616
Change in Net Assets
$1,384,239

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,640,499
Revenue Not Reported on Form 990
$6,875
Total Revenue per Audited Statements
$2,647,374
Total Revenue per Form 990
$2,640,499
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$704,359
Grants and Similar Amounts Paid$551,901
Total Fundraising Expense$119,666
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$448,849--$448,849
Fees for Services Management$116,496$186,128$119,666$422,290
Office Expenses$91,946$12,146$0$104,092
Grants to Domestic Individuals$103,052--$103,052
Fees for Services Other$39,029$5,722$0$44,751
Information Technology$32,966$2,291$0$35,257
Fees for Service Investment Mgmnt Fees$0$19,646$0$19,646
Travel$16,777$1,065$0$17,842
Fees for Services Legal$0$16,310$0$16,310
Advertising$316$15,780$0$16,096
Conferences and Meetings$8,330$7,283$0$15,613
All Other Expenses$6,000$0$0$6,000
Fees for Services Accounting$0$3,500$0$3,500
Insurance$0$2,062$0$2,062
Occupancy$900$0$0$900
Total Functional Expenses$864,661$271,933$119,666$1,256,260

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,276,751
Expenses per Audited Statements$1,256,260
Total Expenses per Form 990$1,256,260
Expenses Not Reported on Form 990$20,491
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Propel Charter School-HazelwoodPittsburgh, PA501(c)(3)Start Up Costs$161,366
Propel Schools IncPittsburgh, PA501(c)(3)Student Activities$143,602
Propel Charter School SunrisePittsburgh, PA501(c)(3)Student Activities$63,607
Propel Charter School-PitcairnPittsburgh, PA501(c)(3)Student Activities$27,496
Propel Charter School - McKeesportPittsburgh, PA501(c)(3)Student Activities$26,821
Propel Charter School-MontourPittsburgh, PA501(c)(3)Student Activities$14,263
Propel Charter School-NorthsidePittsburgh, PA501(c)(3)Student Activities$5,928
Propel Charter School - EastPittsburgh, PA501(c)(3)Student Activities$5,766
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$20,491
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$54,420-$5,060-
Total Events$54,420-$20,491$-20,491
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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
Filing and Contact Details

Filer

Filer Name
Propel Schools Foundation
EIN
20-1100962
Phone
4123257305
Address
3447 E Carson St, Pittsburgh, PA 15203

Signing Officer

Name
Charles Daane
Title
CFO
Phone
4123257305
Signed
2016-02-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeremy Resnick
Formed
2004
Legal Domicile
Pa
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
0

Preparer

Firm
Hosack Specht Muetzel & Wood LLP
Address
305 Mount Lebanon Blvd, Pittsburgh, PA 15234-1500
Preparer
Peter J Vancheri CPA
Phone
4123439200
Supplemental Narrative

Additional Explanations

Pt XII, Line 2C

“The Audit Committee meets with the auditors at the end of the audit process.”

Pt VI, Line 11B

“The Form 990 was made available for the full Board to review and The Form 990 was approved by the Board before filing with the IRS.”

Pt VI, Line 12C

“All trustees and officers are required to complete a conflict of interest statement annually.”

Pt VI, Line 15A

“Compensation for the Executive Director is set annually by the Board of Trustees following a review by the Board's Executive Committee. As part of the process the Executive Committee considers compensation levels at other Western Pennsylvania nonprofit organizations as reported in salary surveys of the United Way.”

Pt VI, Line 19

“Documents are available to the public upon request.”

Financial Statement Notes

Pt XI, Line 2D

“Costs associated with the Organizations annual fundraising gala”

Pt XII, Line 2D

“Costs associated with the Organizations annual fundraising gala”

Pt IV, Line 2B

“In tax year 2012, Propel Schools Foundation began the "Fund My Future Project" encouraging college savings activity among at-risk families. Propel Schools Foundation serves as the custodian for deposits and student/family account balances are maintained through a segregated master escrow bank account.”

Pt X, Line 2

“The Foundation's federal income tax returns for tax years 2012 and beyond remain subject to examination by the Internal Revenue Service. Foundation management has evaluated for uncertain tax positions in accordance with existing accounting principles and no such accrual is required for the year ended June 30, 2015.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Trustee-President
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee-Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee-Treasurer
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IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director of Development, Executive Director of Foundation
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IRS990/PYOtherExpensesAmt0920780
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IRS990/PYTotalExpensesAmt01477356
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IRS990/ReconcilationRevenueExpnssAmt01384239
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0The Foundation added Propel Charter School-Hazelwood EIN 46-4144158. The Charter school began operations in the fiscal year ended June 30, 2015. The school is part of the federation of the other Propel Schools that are supported organizations
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt IV Sec A Ln 5a
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,945,290
Liabilities
$58,968
Net assets
$10,886,322
Revenue
$2,640,499
Expenses
$1,256,260
Net income
$1,384,239
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.5$0.19$16.3$0.70$1.73$1.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.1$0.19$15.9$2.08$1.37$0.71
2022Detailed filing. Detailed filing data is available for this year.$14.4$0.14$14.2$2.69$1.03$1.66
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.2$0.19$15.0$0.89$1.43$0.54
2020Detailed filing. Detailed filing data is available for this year.$13.0$0.38$12.6$1.30$2.26$0.96
2019Detailed filing. Detailed filing data is available for this year.$13.7$0.42$13.3$1.57$1.94$0.37
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.6$0.32$13.2$3.08$2.06$1.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.0$0.30$11.7$2.41$2.12$0.29
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.8$0.25$10.5$1.45$1.61$0.16
2015Detailed filing. Detailed filing data is available for this year.$10.9$0.06$10.9$2.64$1.26$1.38
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$0.59$9.52$1.75$1.48$0.27
2013Summary only. Only limited summary data is available for this year.$9.05$0.47$8.58$1.72$1.18$0.54
2012Summary only. Only limited summary data is available for this year.$8.00$0.11$7.89$2.05$0.77$1.28
2011Summary only. Only limited summary data is available for this year.$6.86$0.25$6.61$1.24$0.57$0.67