Civic Intelligence

Excel Academy Public Charter School

990 • Fiscal year 2017 • EIN 20-4394596

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 27, 2018

2501 Martin Luther King Jr Ave SEWashington, DC 20020

(202) 373-0097

Siviq Scores

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

Liabilities / Assets

51st percentile

0.22x

Higher debt load relative to assets than 51% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

24th percentile

0.08x

Higher debt load relative to revenue than 24% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

25th percentile

-3.2%

Higher net margin than 25% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

47th percentile

$165,396

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

7th percentile

-11%

Faster asset growth than 7% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

27th percentile

-2.6%

Faster revenue growth than 27% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Down

$4,770,380

Down $569,830 (-11%) from 2016

Net Assets

Down

$3,724,300

Down $420,099 (-10%) from 2016

Liabilities

Down

$1,046,080

Down $149,731 (-13%) from 2016

Revenue

Down

$13,250,484

Down $353,728 (-2.6%) from 2016

Expenses

Up

$13,670,583

Up $542,337 (+4.1%) from 2016

Net Income

Down

-$420,099

Down $896,065 (-188%) from 2016

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2011: $1,570,379Liabilities 2011: $431,481Net Assets 2011: $1,138,8982011Assets 2012: $1,905,985Liabilities 2012: $467,336Net Assets 2012: $1,438,6492012Assets 2013: $2,720,989Liabilities 2013: $617,921Net Assets 2013: $2,103,0682013Assets 2014: $3,304,492Liabilities 2014: $977,068Net Assets 2014: $2,327,4242014Assets 2015: $4,688,355Liabilities 2015: $1,019,922Net Assets 2015: $3,668,4332015Assets 2016: $5,340,210Liabilities 2016: $1,195,811Net Assets 2016: $4,144,3992016Assets 2017: $4,770,380Liabilities 2017: $1,046,080Net Assets 2017: $3,724,3002017Assets 2018: $1,845,903Liabilities 2018: $313,858Net Assets 2018: $1,532,0452018Assets 2019: $1,045,383Liabilities 2019: $8,439Net Assets 2019: $1,036,9442019Assets 2020: $954,073Liabilities 2020: $0Net Assets 2020: $954,0732020Assets 2021: $31,550Net Assets 2021: $31,5502021Assets 2022: $0Net Assets 2022: $02022

Highlighted filing

2017

Assets$4,770,380
Liabilities$1,046,080
Net Assets$3,724,300

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $5,319,988Expenses 2011: $4,836,409Net Income 2011: $483,5792011Expenses 2012: $6,433,7402012Expenses 2013: $7,836,5272013Revenue 2014: $10,841,406Expenses 2014: $10,617,050Net Income 2014: $224,3562014Revenue 2015: $13,638,557Expenses 2015: $12,057,629Net Income 2015: $1,580,9282015Revenue 2016: $13,604,212Expenses 2016: $13,128,246Net Income 2016: $475,9662016Revenue 2017: $13,250,484Expenses 2017: $13,670,583Net Income 2017: -$420,0992017Revenue 2018: $13,163,041Expenses 2018: $14,821,299Net Income 2018: -$1,658,2582018Revenue 2019: $3,628Expenses 2019: $498,729Net Income 2019: -$495,1012019Revenue 2020: $3,675Expenses 2020: $86,546Net Income 2020: -$82,8712020Revenue 2021: $2,865Expenses 2021: $925,388Net Income 2021: -$922,5232021Expenses 2022: $31,5502022

Highlighted filing

2017

Revenue$13,250,484
Expenses$13,670,583
Net Income-$420,099
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 27, 2018
Return Version
2016v3.1
Gross Receipts
$13,254,504
Mission and Program Overview

Mission

The public charter school operates as part of the district of columbia public school system with its purpose of providing an outstanding academic education to pre-school to eighth grade girls in the district of columbia. In an effort to impact the inter-generational patterns of poverty, excel academy has been organized to provide an excellent academic and complementary social and enrichment program to prepare scholars to succeed and effectively compete in highly competitive high schools, colleges, and universities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$3,782,665$3,145,399▼ $637,266
Land, Buildings, and Equipment, Net$759,056$691,175▼ $67,881
Cash and Non-Interest-Bearing Accounts$102,607$344,349▲ $241,742
Pledges and Grants Receivable$462,685$310,922▼ $151,763
Accounts Receivable$132,089$161,987▲ $29,898
Prepaid Expenses and Deferred Charges$11,118$26,558▲ $15,440
Total Assets$5,340,210$4,770,380▼ $569,830
Other Assets Total$89,990$89,990→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,186,128$1,008,315▼ $177,813
Deferred Revenue$9,683$37,765▲ $28,082
Total Liabilities$1,195,811$1,046,080▼ $149,731
Net Assets / Fund Balance
Unrestricted Net Assets$4,143,332$3,722,014▼ $421,318
Temporarily Rstr Net Assets$1,067$2,286▲ $1,219
Total Net Assets Fund Balance$4,144,399$3,724,300▼ $420,099
Total Liabilities and Net Assets / Fund Balance$5,340,210$4,770,380▼ $569,830

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$375,082$840,015$1,215,097
Leasehold Improvements$315,433$59,128$374,561
Other Land Buildings$660$6,315$6,975
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Deborah LockhartCEO/head ofFT$159,348$6,048$165,396
Deborah LockhartCEO/head of School-$159,348$6,048$165,396
John Hansen - ChiefFinancial ofFT$130,304$11,967$142,271
Tara WarringtonAssistant PrFT$109,185$3,927$113,112

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Ten Square LLCManagement Cons1101 17TH STREET NW, Washington, DC 20036$699,996
Metz Culinary Management INCFood ServiceTWO WOODLAND DRIVE, Dallas, PA 18612$630,719
Ed-opsFinance Service1611 CONNECTICUT AVENUE NW, Washington, DC 20009$153,475
Align StaffingStaffing111 K STREET NE 4TH FLOOR, Washington, DC 20002$141,642
Revenue and Support

Revenue Composition

Contributions and Grants
$1,382,980
Program Service Revenue
$11,856,516
Investment Income
$9,492
Other Revenue
$1,496
All Other Contributions
$17,928
Change in Net Assets
$-420,099

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
Food Inventory1$31,292
Total Noncash Contributions1$31,292

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,250,484
Total Revenue per Audited Statements
$13,250,484
Total Revenue per Form 990
$13,250,484
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,432,882
Other Expenses$5,237,701
Total Fundraising Expense$72,658
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,653,714$302,433$47,672$7,003,819
Occupancy$1,894,245$146,330$13,408$2,053,983
Fees for Services Other$1,139,732$90,821-$1,230,553
Payroll Taxes$555,593$42,919$3,934$602,446
Other Employee Benefits$401,773$19,270$2,860$423,903
Current Officers, Directors, Trustees, and Key Employees$83,313$232,189-$315,502
Depreciation Depletion$184,918$14,285$1,308$200,511
Office Expenses$143,948$11,119$2,031$157,098
Fees for Services Accounting-$146,137-$146,137
Pension Plan Contributions$82,659$3,965$588$87,212
Information Technology$75,051$5,798$531$81,380
Other Expenses$59,834$4,623-$64,457
Insurance$29,614$2,287$211$32,112
Advertising$25,988$197$18$26,203
Fees for Services Legal$13,860$3,166-$17,026
All Other Expenses$13,693$1,057$97$14,847
Total Functional Expenses$12,542,542$1,055,383$72,658$13,670,583

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,670,583
Total Expenses per Audited Statements$13,670,583
Total Expenses per Form 990$13,670,583
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,516
Fundraising Direct Expenses$4,020
Professional Fundraising Fees$0
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
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, Page 6, Part VI, Line 11B

The chief executive officer and the chief financial officer review the form 990 information return and then forward the form 990 to the treasurer for review and presentation to the board of directors for approval. Once all questions posed by the board of directors are addressed and answered, the treasurer notifies the chief financial officer that the 990 is authorized for filing.

Form 990, Page 6, Part VI, Line 12C

The conflict of interest policy is reviewed annually for all board members and key employees. The review requires disclosure of any interest by anyone that may have a conflict of interest. As there are changes in board members or key employees, the policy is disclosed and complied with.

Form 990, Page 6, Part VI, Line 15A

The chief executive officer's compensation is reviewed annually by the board of directors at a regular meeting. There is a performance review and a comparison of salary to market for determination of salary.

Form 990, Page 6, Part VI, Line 19

The documents are available upon request for inspection at the school, and a copy may be obtained at a cost per copy for reproduction.

Filing and Contact Details

Filer

Filer Name
Excel Academy Public Charter School
EIN
20-4394596
Phone
2023730097
Address
2501 MARTIN LUTHER KING JR AVE SE, WASHINGTON, DC 20020

Signing Officer

Name
Kevin Stafford
Title
Chief Financial
Phone
2023730097
Signed
2018-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Stafford
Formed
2006
Legal Domicile
Dc
Voting Board Members
9
Independent Board Members
9
Employees
200
Volunteers
109

Preparer

Firm
Kendall Prebola and Jones LLC
Address
PO BOX 259, BEDFORD, PA 15522-0259
Preparer
Richard M Jones CPA
Phone
8146231880
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The public charter school operates as part of the district of columbia public school system with its purpose of providing an outstanding academic education to pre-school to eighth grade girls in the district of columbia. In an effort to impact the inter-generational patterns of poverty, excel academy has been organized to provide an excellent academic and complementary social and enrichment program to prepare scholars to succeed and effectively compete in highly competitive high schools, colleges, and universities.

Form 990, Page 2, Part III, Line 4A

Reading, writing, math, and to teach ethics, personal responsibility, and healthy choices. We use early and frequent assessments to gauge students' progress and identify academic needs for classrooms and individual students, and respond to the data such assessments provide with immediacy. We hire highly skilled teachers, participate in ongoing professional development, and create and maintain a community of respect and collaboration with our staff and parents. We embrace students' parents and guardians as essential partners in their student's education, and we reach out to families and the wider community to support excel academy's girls. Founded by kaye savage, excel academy was authorized and approved by the dc public charter school board in 2007. In august 2008, the school opened in a church basement with 134 preschool, pre-kindergarten and kindergarten girls. In 2009, the school took partial occupancy of the birney school on martin luther king, jr. Avenue se, in the heart of the barry farm neighborhood in anacostia. From 2008-2016, the school grew to serve over 700 preschool through grade 7 scholars. In august 2013, preparing for growth through grade 8, the charter school expanded to occupy the entire 86,000 square foot building. Excel academy continues to grow in student enrollment and staff size every year. Excel academy provides scholars with a strong standards-based academic program, gender specific teaching and instruction, and leadership and extracurricular opportunities. Two teaching faculty members are assigned to each classroom from preschool to third grade. This structure provides a low student to teacher ratio and allows teachers to deliver instruction appropriately suited to individual student needs. Students advance based on mastery of the curriculum and progress is measured continuously using standardized assessments, rubrics and curriculum checklists. Developing and applying early literacy and numeracy skills in a highly structured setting is a critical component of our academic program in order to ensure strong foundational skills in the core subjects: reading, language, writing, mathematics, science and social studies. We believe that the sooner girls are enrolled in excel academy, the greater the impact on their academic achievement and personal development. Excel academy begins with the earliest learners, pre-school, pre-kindergarten and kindergarten, to allow for the movement of students who may be ready for more advanced academic work or for those who may need to be grouped with younger students based on academic and/or social-emotional needs. Much of the student success in the early years of school at excel academy is connected to intensive and comprehensive reading and writing teaching and instruction. Students receive direct instruction in phonics, decoding, vocabulary, handwriting, writing, and comprehension. Through a variety of learning techniques, small group instruction, center work, read aloud and writer's workshop, students are equipped with the necessary tools to read. Excel academy is committed to ensuring that every child is ready to read by kindergarten and is a developing reader before entering first grade. Students who do not demonstrate preparedness for reading will not be promoted to kindergarten. Excel academy has a very strong set of core values and procedures governing all areas of school life. We are committed to providing: a rigorous single gender model - excel academy's unique single-sex environment is supported by extensive research and rooted in high academic achievement and learning for every student that permits staff to focus teaching strategies directed on the learning needs and styles of girls. An early educational intervention program - starting with students who are three years old, excel academy offers an instructional program that promotes school readiness in literacy, math, and social development. "more time on task - students at excel academy are in academically rig

Financial Statement Notes

Schedule D, Page 3, Part X

Accounting principles generally accepted in the united states of america provide consistent guidance for the accounting for uncertainty in income taxes recognized in the charter school's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. The excel academy public charter school performed an evaluation of uncertain tax positions for the year ended june 30, 2017, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. As of june 30, 2017, the statute of limitations for tax years 2013 through 2015 remains open with the u.s. Federal jurisdiction or the various states and local jurisdictions in which the charter school files tax returns. It is the charter school's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. As of june 30, 2017, the charter school had no accruals for interest and/or penalties.

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IRS990/Desc0THE BOARD OF TRUSTEES, CHIEF EXECUTIVE OFFICER, FACULTY, AND STAFF AT EXCEL ACADEMY PUBLIC CHARTER SCHOOL ARE COMMITTED TO PROVIDING A STRONG SINGLE- SEX PUBLIC EDUCATION ALTERNATIVE FOR GIRLS LIVING AND LEARNING IN WASHINGTON, DC. EXCEL ACADEMY FIRMLY BELIEVES THAT ALL STUDENTS CAN ACHIEVE GREAT ACADEMIC SUCCESS. WE ARE DETERMINED TO PROVIDE GIRLS IN WASHINGTON, DC, WITH THE HIGHEST QUALITY SINGLE-SEX EDUCATION POSSIBLE. EXCEL ACADEMY OFFERS A UNIQUE SINGLE-SEX EDUCATIONAL MODEL FOR FEMALE STUDENTS IN THE DISTRICT. BASED ON AN EARLY EDUCATIONAL INTERVENTION MODEL THAT OFFERS PRESCHOOL FOR THREE-YEAR-OLDS TO PROMOTE SCHOOL READINESS, EXCEL IMPLEMENTS A CURRICULUM PROVEN TO BUILD STUDENT ACHIEVEMENT IN READING, WRITING, MATH, AND TO TEACH ETHICS, PERSONAL RESPONSIBILITY, AND HEALTHY CHOICES. WE USE EARLY AND FREQUENT ASSESSMENTS TO GAUGE STUDENTS' PROGRESS AND IDENTIFY ACADEMIC NEEDS FOR CLASSROOMS AND INDIVIDUAL STUDENTS, AND RESPOND TO THE DATA SUCH ASSESSMENTS PROVIDE WITH IMMEDIACY. WE HIRE HIGHLY SKILLED TEACHERS, PARTICIPATE IN ONGOING PROFESSIONAL DEVELOPMENT, AND CREATE AND MAINTAIN A COMMUNITY OF RESPECT AND COLLABORATION WITH OUR STAFF AND PARENTS. WE EMBRACE STUDENTS' PARENTS AND GUARDIANS AS ESSENTIAL PARTNERS IN THEIR STUDENT'S EDUCATION, AND WE REACH OUT TO FAMILIES AND THE WIDER COMMUNITY TO SUPPORT EXCEL ACADEMY'S GIRLS. FOUNDED BY KAYE SAVAGE, EXCEL ACADEMY WAS AUTHORIZED AND APPROVED BY THE DC PUBLIC CHARTER SCHOOL BOARD IN 2007. IN AUGUST 2008, THE SCHOOL OPENED IN A CHURCH BASEMENT WITH 134 PRESCHOOL, PRE-KINDERGARTEN AND KINDERGARTEN GIRLS. IN 2009, THE SCHOOL TOOK PARTIAL OCCUPANCY OF THE BIRNEY SCHOOL ON MARTIN LUTHER KING, JR. AVENUE SE, IN THE HEART OF THE BARRY FARM NEIGHBORHOOD IN ANACOSTIA. FROM 2008-2016, THE SCHOOL GREW TO SERVE OVER 700 PRESCHOOL THROUGH GRADE 7 SCHOLARS. IN AUGUST 2013, PREPARING FOR GROWTH THROUGH GRADE 8, THE CHARTER SCHOOL EXPANDED TO OCCUPY THE ENTIRE 86,000 SQUARE FOOT BUILDING. EXCEL ACADEMY CONTINUES TO GROW IN STUDENT ENROLLMENT AND STAFF SIZE EVERY YEAR. EXCEL ACADEMY PROVIDES SCHOLARS WITH A STRONG STANDARDS-BASED ACADEMIC PROGRAM, GENDER SPECIFIC TEACHING AND INSTRUCTION, AND LEADERSHIP AND EXTRACURRICULAR OPPORTUNITIES. TWO TEACHING FACULTY MEMBERS ARE ASSIGNED TO EACH CLASSROOM FROM PRESCHOOL TO THIRD GRADE. THIS STRUCTURE PROVIDES A LOW STUDENT TO TEACHER RATIO AND ALLOWS TEACHERS TO DELIVER INSTRUCTION APPROPRIATELY SUITED TO INDIVIDUAL STUDENT NEEDS. STUDENTS ADVANCE BASED ON MASTERY OF THE CURRICULUM AND PROGRESS IS MEASURED CONTINUOUSLY USING STANDARDIZED ASSESSMENTS, RUBRICS AND CURRICULUM CHECKLISTS. DEVELOPING AND APPLYING EARLY LITERACY AND NUMERACY SKILLS IN A HIGHLY STRUCTURED SETTING IS A CRITICAL COMPONENT OF OUR ACADEMIC PROGRAM IN ORDER TO ENSURE STRONG FOUNDATIONAL SKILLS IN THE CORE SUBJECTS: READING, LANGUAGE, WRITING, MATHEMATICS, SCIENCE AND SOCIAL STUDIES. WE BELIEVE THAT THE SOONER GIRLS ARE ENROLLED IN EXCEL ACADEMY, THE GREATER THE IMPACT ON THEIR ACADEMIC ACHIEVEMENT AND PERSONAL DEVELOPMENT. EXCEL ACADEMY BEGINS WITH THE EARLIEST LEARNERS, PRE-SCHOOL, PRE-KINDERGARTEN AND KINDERGARTEN, TO ALLOW FOR THE MOVEMENT OF STUDENTS WHO MAY BE READY FOR MORE ADVANCED ACADEMIC WORK OR FOR THOSE WHO MAY NEED TO BE GROUPED WITH YOUNGER STUDENTS BASED ON ACADEMIC AND/OR SOCIAL-EMOTIONAL NEEDS. MUCH OF THE STUDENT SUCCESS IN THE EARLY YEARS OF SCHOOL AT EXCEL ACADEMY IS CONNECTED TO INTENSIVE AND COMPREHENSIVE READING AND WRITING TEACHING AND INSTRUCTION. STUDENTS RECEIVE DIRECT INSTRUCTION IN PHONICS, DECODING, VOCABULARY, HANDWRITING, WRITING, AND COMPREHENSION. THROUGH A VARIETY OF LEARNING TECHNIQUES, SMALL GROUP INSTRUCTION, CENTER WORK, READ ALOUD AND WRITER'S WORKSHOP, STUDENTS ARE EQUIPPED WITH THE NECESSARY TOOLS TO READ. EXCEL ACADEMY IS COMMITTED TO ENSURING THAT EVERY CHILD IS READY TO READ BY KINDERGARTEN AND IS A DEVELOPING READER BEFORE ENTERING FIRST GRADE. STUDENTS WHO DO NOT DEMONSTRATE PREPAREDNESS FOR READING WILL NOT BE PROMOTED TO KIN
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IRS990/MissionDesc0THE PUBLIC CHARTER SCHOOL OPERATES AS PART OF THE DISTRICT OF COLUMBIA PUBLIC SCHOOL SYSTEM WITH ITS PURPOSE OF PROVIDING AN OUTSTANDING ACADEMIC EDUCATION TO PRE-SCHOOL TO EIGHTH GRADE GIRLS IN THE DISTRICT OF COLUMBIA. IN AN EFFORT TO IMPACT THE INTER-GENERATIONAL PATTERNS OF POVERTY, EXCEL ACADEMY HAS BEEN ORGANIZED TO PROVIDE AN EXCELLENT ACADEMIC AND COMPLEMENTARY SOCIAL AND ENRICHMENT PROGRAM TO PREPARE SCHOLARS TO SUCCEED AND EFFECTIVELY COMPETE IN HIGHLY COMPETITIVE HIGH SCHOOLS, COLLEGES, AND UNIVERSITIES.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE CHARTER SCHOOL'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE EXCEL ACADEMY PUBLIC CHARTER SCHOOL PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2017, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF JUNE 30, 2017, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2013 THROUGH 2015 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE CHARTER SCHOOL FILES TAX RETURNS. IT IS THE CHARTER SCHOOL'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. AS OF JUNE 30, 2017, THE CHARTER SCHOOL HAD NO ACCRUALS FOR INTEREST AND/OR PENALTIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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