Civic Intelligence

Salma Khatoon Academy Inc

990 • Fiscal year 2016 • EIN 20-5151027

Aug 01, 2015 to Jul 31, 2016 • Filed on Jun 14, 2017

Organization ProfileSKFACADEMY.ORG
97 Barnes RoadWallingford, CT 06492

(203) 774-8000

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.06x

Higher debt load relative to assets than 42% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

50th percentile

0.11x

Higher debt load relative to revenue than 50% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

98th percentile

94%

Higher net margin than 98% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

37th percentile

$16,190

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

96th percentile

112%

Faster asset growth than 96% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

93rd percentile

89%

Faster revenue growth than 93% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$1,203,527

Up $635,365 (+112%) from 2015

Net Assets

Up

$1,132,746

Up $629,978 (+125%) from 2015

Liabilities

Up

$70,781

Up $5,387 (+8.2%) from 2015

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin98th percentile

Revenue

Up

$673,466

Up $316,381 (+89%) from 2015

Expenses

Down

$43,488

Down $311,715 (-88%) from 2015

Net Income

Up

$629,978

Up $628,096 (+33374%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $629,757Liabilities 2011: $6,711Net Assets 2011: $623,0462011Assets 2012: $642,888Liabilities 2012: $84,927Net Assets 2012: $557,9612012Assets 2013: $691,424Liabilities 2013: $82,152Net Assets 2013: $609,2722013Assets 2014: $585,655Liabilities 2014: $84,769Net Assets 2014: $500,8862014Assets 2015: $568,162Liabilities 2015: $65,394Net Assets 2015: $502,7682015Assets 2016: $1,203,527Liabilities 2016: $70,781Net Assets 2016: $1,132,7462016Assets 2017: $1,165,996Liabilities 2017: $0Net Assets 2017: $1,165,9962017Assets 2018: $1,148,753Liabilities 2018: $14,403Net Assets 2018: $1,134,3502018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2016

Assets$1,203,527
Liabilities$70,781
Net Assets$1,132,746
Open 2016 Filing

Operations Trend

Revenue Growth93rd percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $357,487Expenses 2011: $368,397Net Income 2011: -$10,9102011Revenue 2012: $303,877Expenses 2012: $368,962Net Income 2012: -$65,0852012Expenses 2013: $348,9862013Revenue 2014: $212,037Expenses 2014: $320,358Net Income 2014: -$108,3212014Revenue 2015: $357,085Expenses 2015: $355,203Net Income 2015: $1,8822015Revenue 2016: $673,466Expenses 2016: $43,488Net Income 2016: $629,9782016Revenue 2017: $123,411Expenses 2017: $79,813Net Income 2017: $43,5982017Revenue 2018: $55,099Expenses 2018: $61,504Net Income 2018: -$6,4052018Revenue 2019: $69,219Expenses 2019: $61,741Net Income 2019: $7,4782019

Highlighted filing

2016

Revenue$673,466
Expenses$43,488
Net Income$629,978
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2015 to Jul 31, 2016
Signed
Jun 14, 2017
Return Version
2015v3.0
Gross Receipts
$673,466
Mission and Program Overview

Mission

To provide elementary school education in grades pre-k through 6th. The mission of the academy is to provide high caliber elementary education with a mix of religious education and after schook, weekend and adult islamic education classes, all as consistent with sunni islamic teachings.

To provide high caliber elementary education with a mix of religious education and after school, weekend and adult islamic education classes, all as consistent with sunni islamic teachings.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$529,195$1,172,720▲ $643,525
Rtn Earn Endowment Incm Other Fnds$502,768$1,132,746▲ $629,978
Cash and Non-Interest-Bearing Accounts$38,967$10,270▼ $28,697
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$568,162$1,203,527▲ $635,365
Other Assets Total$0$20,537▲ $20,537
Liabilities
Other Liabilities$65,394$70,781▲ $5,387
Total Liabilities$65,394$70,781▲ $5,387
Net Assets / Fund Balance
Total Net Assets Fund Balance$502,768$1,132,746▲ $629,978
Total Liabilities and Net Assets / Fund Balance$568,162$1,203,527▲ $635,365

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$510,790$127,222$638,012
Buildings$542,402$71,630$614,032
Land$118,706-$118,706
Equipment$822$46,014$46,836
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleBaseTotal
Thamina ShalhoutOutgoing DIRECTOR$16,190$16,190

Board Members and Trustees

NameTitle
Tariq FaridChairman/director
Asma FaridVice Chairman & Secretary
Somia FaridDirector
Ghulam FaridOutgoing DIRECTOR
Zahida Farid-rashidOutgoing DIRECTOR
Kamran FaridOutgoing SECRETARY/DIRECTOR
Revenue and Support

Revenue Composition

Contributions and Grants
$671,140
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$2,326
All Other Contributions
$671,140
Change in Net Assets
$629,978

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 AmountValuation Method
Real Estate Other1$551,190Cost
Total Noncash Contributions1$551,190-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$43,488
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$17,582-$17,582
Fees for Services Other$9,417--$9,417
Occupancy$2,326$5,419-$7,745
Fees for Services Legal-$3,336-$3,336
Fees for Services Accounting-$2,050-$2,050
Office Expenses-$324-$324
Insurance-$268-$268
Advertising$90--$90
Other Expenses$2--$2
Total Functional Expenses$14,509$28,979$0$43,488
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 affiliate$70,781
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Section A, line 2

“The chairman and secretary of the organization are brothers. The chairman and vice chairman are married. Somia farid is the daughter of the chairman and vice chairman.”

Form 990, Part VI, Section B, line 11

“The form 990 is reviewed and approved by the board of directors prior to filing.”

Form 990, Part VI, Section B, line 12C

“As soon as a disclosure of possible conflict of interest arises the board to which the conflict is made shall determine by majority vote whether the disclosure shows that a conflict of interest exists. If a conflict is deemed to exist such person shall not vote on or use his or her personal influence on or be present during the discussion or deliberations with respect to such contract or transaction.”

Form 990, Part VI, Section C, line 19

“The organization's financial statements and form 990 are available upon request.”

Filing and Contact Details

Filer

Filer Name
Salma Khatoon Academy Inc
EIN
20-5151027
Phone
2037748000
Address
97 BARNES ROAD, WALLINGFORD, CT 06492

Signing Officer

Name
Tariq Farid
Title
Chairman/director
Phone
2037748000
Signed
2017-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tariq Farid
Formed
2006
Legal Domicile
Ct
Voting Board Members
3
Independent Board Members
3
Employees
10
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
350 CHURCH STREET 12TH FLOOR, HARTFORD, CT 06103
Preparer
Gary J Purpura
Phone
9592007000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“processing fees: Program service expenses 1,434. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,434. consultant: Program service expenses 7,983. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,983.”

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IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/RealEstateOtherGrp/ContributionCnt01
IRS990ScheduleM/RealEstateOtherGrp/MethodOfDeterminingRevenuesTxt0COST
IRS990ScheduleM/RealEstateOtherGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateOtherGrp/NoncashContributionsRptF990Amt0551190
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE AMOUNT IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Column (b):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CHAIRMAN AND SECRETARY OF THE ORGANIZATION ARE BROTHERS. THE CHAIRMAN AND VICE CHAIRMAN ARE MARRIED. SOMIA FARID IS THE DAUGHTER OF THE CHAIRMAN AND VICE CHAIRMAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AS SOON AS A DISCLOSURE OF POSSIBLE CONFLICT OF INTEREST ARISES THE BOARD TO WHICH THE CONFLICT IS MADE SHALL DETERMINE BY MAJORITY VOTE WHETHER THE DISCLOSURE SHOWS THAT A CONFLICT OF INTEREST EXISTS. IF A CONFLICT IS DEEMED TO EXIST SUCH PERSON SHALL NOT VOTE ON OR USE HIS OR HER PERSONAL INFLUENCE ON OR BE PRESENT DURING THE DISCUSSION OR DELIBERATIONS WITH RESPECT TO SUCH CONTRACT OR TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4processing fees: Program service expenses 1,434. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,434. consultant: Program service expenses 7,983. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,983.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, line 11g
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0568162
IRS990/TotalAssetsEOYAmt01203527
IRS990/TotalAssetsGrp/BOYAmt0568162
IRS990/TotalAssetsGrp/EOYAmt01203527
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0671140
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt028979
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt014509
IRS990/TotalFunctionalExpensesGrp/TotalAmt043488
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt065394
IRS990/TotalLiabilitiesEOYAmt070781
IRS990/TotalLiabilitiesGrp/BOYAmt065394
IRS990/TotalLiabilitiesGrp/EOYAmt070781
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0502768
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01132746
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt014509
IRS990/TotalReportableCompFromOrgAmt016190
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02326
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0673466
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0568162
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01203527
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt097 BARNES ROAD
IRS990/USAddress/CityNm0WALLINGFORD
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006492
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0SKFACADEMY.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TARIQ FARID
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN/DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02037748000
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-06-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SALMA KHATOON ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0SALM
ReturnHeader/Filer/EIN0205151027
ReturnHeader/Filer/PhoneNum02037748000
ReturnHeader/Filer/USAddress/AddressLine1Txt097 BARNES ROAD
ReturnHeader/Filer/USAddress/CityNm0WALLINGFORD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006492
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0221478099
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COHNREZNICK LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0350 CHURCH STREET 12TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HARTFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006103
ReturnHeader/PreparerPersonGrp/PhoneNum09592007000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GARY J PURPURA
ReturnHeader/ReturnTs02017-06-15T08:26:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-08-01
ReturnHeader/TaxPeriodEndDt02016-07-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,203,527
Liabilities
$70,781
Net assets
$1,132,746
Revenue
$673,466
Expenses
$43,488
Net income
$629,978
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.07$0.06$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.15$0.01$1.13$0.06$0.06$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.17$0.00$1.17$0.12$0.08$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.20$0.07$1.13$0.67$0.04$0.63
2015Summary only. Only limited summary data is available for this year.$0.57$0.07$0.50$0.36$0.36$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.59$0.08$0.50$0.21$0.32$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.69$0.08$0.61$0.35
2012Summary only. Only limited summary data is available for this year.$0.64$0.08$0.56$0.30$0.37$0.07
2011Summary only. Only limited summary data is available for this year.$0.63$0.01$0.62$0.36$0.37$0.01