Civic Intelligence

Apple Educational Services Inc Aka New York Academy Educational Services

990 • Fiscal year 2022 • EIN 20-3736009

Jul 01, 2021 to Jun 30, 2022 • Filed on Dec 13, 2022

Organization Profilewww.newyorkacademy.org

View Organization Page

17 Chestnut Street FL 3Ridgewood, NJ 07450

(201) 639-4311

Siviq Scores

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

Liabilities / Assets

86th percentile

0.91x

Higher debt load relative to assets than 86% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

93rd percentile

10.83x

Higher debt load relative to revenue than 93% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Net Margin

12th percentile

-15%

Higher net margin than 12% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

20th percentile

$69,512

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Asset Growth

41st percentile

-1.5%

Faster asset growth than 41% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

19th percentile

-14%

Faster revenue growth than 19% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$30,204,662

Down $456,374 (-1.5%) from 2021

Net Assets

Down

$2,778,304

Down $373,821 (-12%) from 2021

Liabilities

Down

$27,426,358

Down $82,553 (-0.3%) from 2021

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin12th percentile

Revenue

Down

$2,532,694

Down $419,162 (-14%) from 2021

Expenses

Down

$2,906,515

Down $289,004 (-9.0%) from 2021

Net Income

Down

-$373,821

Down $130,158 (-53%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth41st percentile

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

$40M$30M$20M$10M$0Assets 2011: $3,721,268Liabilities 2011: $2,999,862Net Assets 2011: $721,4062011Assets 2012: $34,586,259Liabilities 2012: $33,668,763Net Assets 2012: $917,4962012Assets 2013: $35,445,393Liabilities 2013: $35,060,541Net Assets 2013: $384,8522013Assets 2014: $35,796,469Liabilities 2014: $35,203,384Net Assets 2014: $593,0852014Assets 2015: $35,928,988Liabilities 2015: $34,935,501Net Assets 2015: $993,4872015Assets 2016: $32,964,977Liabilities 2016: $30,105,139Net Assets 2016: $2,859,8382016Assets 2017: $34,963,662Liabilities 2017: $29,594,325Net Assets 2017: $5,369,3372017Assets 2018: $33,732,702Liabilities 2018: $29,138,519Net Assets 2018: $4,594,1832018Assets 2019: $32,418,382Liabilities 2019: $28,621,988Net Assets 2019: $3,796,3942019Assets 2020: $31,579,370Liabilities 2020: $28,183,582Net Assets 2020: $3,395,7882020Assets 2021: $30,661,036Liabilities 2021: $27,508,911Net Assets 2021: $3,152,1252021Assets 2022: $30,204,662Liabilities 2022: $27,426,358Net Assets 2022: $2,778,3042022Assets 2023: $29,682,842Liabilities 2023: $26,818,979Net Assets 2023: $2,863,8632023Assets 2024: $29,443,352Liabilities 2024: $26,135,509Net Assets 2024: $3,307,8432024Assets 2025: $6,743,506Liabilities 2025: $500,000Net Assets 2025: $6,243,5062025

Highlighted filing

2022

Assets$30,204,662
Liabilities$27,426,358
Net Assets$2,778,304
Open 2022 Filing

Operations Trend

Revenue Growth19th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,707,016Expenses 2011: $1,489,503Net Income 2011: $217,5132011Expenses 2012: $2,644,2072012Revenue 2013: $3,480,420Expenses 2013: $4,013,064Net Income 2013: -$532,6442013Revenue 2014: $3,459,003Expenses 2014: $3,250,770Net Income 2014: $208,2332014Revenue 2015: $1,855,644Expenses 2015: $1,455,242Net Income 2015: $400,4022015Revenue 2016: $5,605,438Expenses 2016: $3,739,087Net Income 2016: $1,866,3512016Revenue 2017: $5,745,908Expenses 2017: $3,236,409Net Income 2017: $2,509,4992017Revenue 2018: $5,957,475Expenses 2018: $6,732,629Net Income 2018: -$775,1542018Revenue 2019: $3,017,271Expenses 2019: $3,815,060Net Income 2019: -$797,7892019Revenue 2020: $2,849,185Expenses 2020: $3,249,791Net Income 2020: -$400,6062020Revenue 2021: $2,951,856Expenses 2021: $3,195,519Net Income 2021: -$243,6632021Revenue 2022: $2,532,694Expenses 2022: $2,906,515Net Income 2022: -$373,8212022Revenue 2023: $2,771,438Expenses 2023: $2,685,879Net Income 2023: $85,5592023Revenue 2024: $3,111,049Expenses 2024: $2,667,069Net Income 2024: $443,9802024Revenue 2025: $5,356,089Expenses 2025: $2,420,426Net Income 2025: $2,935,6632025

Highlighted filing

2022

Revenue$2,532,694
Expenses$2,906,515
Net Income-$373,821
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Dec 13, 2022
Return Version
2021v4.1
Gross Receipts
$2,532,694
Mission and Program Overview

Mission

New york academic educational services inc. Provides and promotes high quality educational services to students of new jersey to close the achievement gap resulting from socio-economic inequities, and to help students of all backgrounds reach their greatest academic and intellectual potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,860,484$24,082,460▼ $778,024
Savings and Temporary Cash Investments$1,219,567$1,387,008▲ $167,441
Cash and Non-Interest-Bearing Accounts$229,627$258,007▲ $28,380
Intangible Assets$33,000$27,500▼ $5,500
Prepaid Expenses and Deferred Charges$23,308$18,713▼ $4,595
Accounts Receivable$6,160$6,860▲ $700
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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-
Inventories for Sale or Use-$0-
Total Assets$30,661,036$30,204,662▼ $456,374
Other Assets Total$4,288,890$4,424,114▲ $135,224
Liabilities
Mortgage Notes Payable Secured by Investment Property$26,766,712$26,690,687▼ $76,025
Deferred Revenue$736,850$722,530▼ $14,320
Accounts Payable and Accrued Expenses$5,349$13,141▲ $7,792
Total Liabilities$27,508,911$27,426,358▼ $82,553
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,152,125$2,778,304▼ $373,821
Total Net Assets Fund Balance$3,152,125$2,778,304▼ $373,821
Total Liabilities and Net Assets / Fund Balance$30,661,036$30,204,662▼ $456,374

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$22,937,960$6,615,609$29,553,569
Land$1,144,500-$1,144,500
Other Land Buildings-$89,890$89,890
Equipment-$65,827$65,827
Other Assets Org$603,413--
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Levent KochCEOFT$69,512$69,512
Levent UlkerBusiness Mgr.FT$56,248$56,248

Board Members and Trustees

NameTitle
Arman KozhabayevPresident
Elif IdilDirector
Hanifi YildizDirector
Ben Hasan ErkanSecretary
Galip KiyakliTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Weatherproofing Technologies INCConstruction3735 GREEN ROAD, Beachwood, OH 44122-
Revenue and Support

Revenue Composition

Contributions and Grants
$3,272
Program Service Revenue
$91,445
Investment Income
$-200,423
Other Revenue
$2,638,400
All Other Contributions
$2,800
Change in Net Assets
$-373,821
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,604,453
Salaries, Compensation, and Employee Benefits$302,062
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,458,221--$1,458,221
Depreciation Depletion-$803,006-$803,006
Other Salaries and Wages$145,816$30,486-$176,302
Current Officers, Directors, Trustees, and Key Employees$125,760--$125,760
Insurance$42,729--$42,729
Fees for Services Other$19,406$5,790-$25,196
Office Expenses$9,295$9,523-$18,818
All Other Expenses$12,140$329-$12,469
Other Expenses$10,763$7,492-$10,763
Travel$4,648--$4,648
Total Functional Expenses$2,041,853$864,662$0$2,906,515
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
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

Bond Issues

BondIssuerIssuedIssue PricePurpose
BNew Jersey Econ Dev Auth2012-09-28$17,898,885Acq'd property for use by char
ANew Jersey Econ Dev Auth2012-04-12$11,613,188Acq'd property for use by char

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$17,898,885---
A$11,613,188---

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
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 return is prepared by an independent accounting firm and is reviewed by acting executive director/vice president and the accounting/finance department. Any changes to the form 990 return are made based upon their recommendations. The form 990 return is only distributed to the board of directors after these reviews are completed. A copy of the final form 990 return is emailed to all members of the board of directors prior to filing with the irs.”

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

“Explanation: the organization makes its form 990 available upon request.”

Filing and Contact Details

Filer

Filer Name
APPLE EDUCATIONAL SERVICES INC aka
EIN
20-3736009
Phone
2016394311
Address
17 CHESTNUT STREET FL 3, RIDGEWOOD, NJ 07450

Signing Officer

Name
Levent Koch
Title
CEO
Signed
2022-12-13
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
7

Preparer

Firm
Barre & Company LLC
Address
2204 MORRIS AVE STE 206, UNION, NJ 07083
Preparer
Richard Barre
Phone
9086863484
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

“Assessment tests, extracurricular activities, marketing, and startup services for newly approved charter schools. Apple is also engaged in educational facility ownership and management to assist charter schools with getting access to facility space retrofitted for a school with enough capacity to meet its needs as the charter school continues to grow its student enrollment. Additionally, apple, through its ivy learning branch provides after-school tutoring, saturday school tutoring, sat preparation for high school juniors and seniors as well as summer enrichment camps as a state approved supplementary educational service provider in pennsylvania and in new jersey.”

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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PART II SECTION B LINE 8 INCLUDES PROGRAM SERVICE REVENUE FOR SOFTWARE & EDUCATIONAL CONSULTING.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Support Schedule: Additional Supplemental Information
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt08067
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt02729845
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02984404
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt03097600
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt065827
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt065827
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01144500
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1NET BORROWING COSTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2PROJECT FUND RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3REPAIR & REPLACEMENT RESERVE
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0SCHEDULE K, PART I, BOND ISSUES:(A) ISSUER NAME:NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY-PATERSON CHARTER SCHOOL SER 2012A(F) DESCRIPTION OF PURPOSE: ACQUIRED PROPERTY FOR USE BY CHARTER SCHOOL(A) ISSUER NAME:NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY-PATERSON CHARTER SCHOOL SER 2012C(F) DESCRIPTION OF PURPOSE: ACQUIRED PROPERTY FOR USE BY CHARTER SCHOOL
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12012-09-28
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt117898885
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0NEW JERSEY ECON DEV AUTH
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1NEW JERSEY ECON DEV AUTH

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$30,204,662
Liabilities
$27,426,358
Net assets
$2,778,304
Revenue
$2,532,694
Expenses
$2,906,515
Net income
-$373,821
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.74$0.50$6.24$5.36$2.42$2.94
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.4$26.1$3.31$3.11$2.67$0.44
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.7$26.8$2.86$2.77$2.69$0.09
2022Detailed filing. Detailed filing data is available for this year.$30.2$27.4$2.78$2.53$2.91$0.37
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.7$27.5$3.15$2.95$3.20$0.24
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.6$28.2$3.40$2.85$3.25$0.40
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.4$28.6$3.80$3.02$3.82$0.80
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.7$29.1$4.59$5.96$6.73$0.78
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.0$29.6$5.37$5.75$3.24$2.51
2016Detailed filing. Detailed filing data is available for this year.$33.0$30.1$2.86$5.61$3.74$1.87
2015Summary only. Only limited summary data is available for this year.$35.9$34.9$0.99$1.86$1.46$0.40
2014Detailed filing. Detailed filing data is available for this year.$35.8$35.2$0.59$3.46$3.25$0.21
2013Detailed filing. Detailed filing data is available for this year.$35.4$35.1$0.38$3.48$4.01$0.53
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.6$33.7$0.92$2.64
2011Summary only. Only limited summary data is available for this year.$3.72$3.00$0.72$1.71$1.49$0.22