Civic Intelligence

Frazier Academy Design Team Inc

990 • Fiscal year 2018 • EIN 20-5471007

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 12, 2019

Organization ProfileWWW.FRAZIERPREP.ORG
3711 W Douglas Blvd Suite 309Chicago, IL 60623

(773) 534-6776

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.34x

Higher debt load relative to assets than 73% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

54th percentile

0.11x

Higher debt load relative to revenue than 54% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

50th percentile

2.9%

Higher net margin than 50% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

70th percentile

$102,644

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

89th percentile

39%

Faster asset growth than 89% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

19th percentile

-12%

Faster revenue growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$1,160,048

Up $326,443 (+39%) from 2017

Net Assets

Up

$765,637

Up $101,864 (+15%) from 2017

Liabilities

Up

$394,411

Up $224,579 (+132%) from 2017

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin50th percentile

Revenue

Down

$3,504,130

Down $490,193 (-12%) from 2017

Expenses

Down

$3,402,266

Down $462,016 (-12%) from 2017

Net Income

Down

$101,864

Down $28,177 (-22%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $809,029Liabilities 2010: $309,044Net Assets 2010: $499,9852010Assets 2011: $1,022,307Liabilities 2011: $256,723Net Assets 2011: $765,5842011Assets 2012: $897,406Liabilities 2012: $757,947Net Assets 2012: $139,4592012Assets 2013: $500,997Liabilities 2013: $379,590Net Assets 2013: $121,4072013Assets 2014: $705,093Liabilities 2014: $347,868Net Assets 2014: $357,2252014Assets 2015: $719,683Liabilities 2015: $227,614Net Assets 2015: $492,0692015Assets 2016: $1,028,415Liabilities 2016: $494,683Net Assets 2016: $533,7322016Assets 2017: $833,605Liabilities 2017: $169,832Net Assets 2017: $663,7732017Assets 2018: $1,160,048Liabilities 2018: $394,411Net Assets 2018: $765,6372018Assets 2019: $1,004,814Liabilities 2019: $459,219Net Assets 2019: $545,5952019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2018

Assets$1,160,048
Liabilities$394,411
Net Assets$765,637
Open 2018 Filing

Operations Trend

Revenue Growth19th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,506,9382010Revenue 2011: $3,326,879Expenses 2011: $3,061,280Net Income 2011: $265,5992011Expenses 2012: $3,242,7652012Expenses 2013: $3,542,0792013Revenue 2014: $3,709,863Expenses 2014: $3,474,045Net Income 2014: $235,8182014Revenue 2015: $3,838,646Expenses 2015: $3,703,802Net Income 2015: $134,8442015Revenue 2016: $4,005,551Expenses 2016: $3,963,888Net Income 2016: $41,6632016Revenue 2017: $3,994,323Expenses 2017: $3,864,282Net Income 2017: $130,0412017Revenue 2018: $3,504,130Expenses 2018: $3,402,266Net Income 2018: $101,8642018Revenue 2019: $3,262,205Expenses 2019: $3,482,247Net Income 2019: -$220,0422019Revenue 2020: $3,133,368Expenses 2020: $3,678,963Net Income 2020: -$545,5952020

Highlighted filing

2018

Revenue$3,504,130
Expenses$3,402,266
Net Income$101,864
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 12, 2019
Return Version
2017v2.3
Gross Receipts
$3,504,130
Mission and Program Overview

Mission

Providing educational and community opportunities for youths in pre-kindergarten through 8th grade.

Providing educational and community opportunities for youths in pre-k through 8th grade

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$256,628$931,645▲ $675,017
Accounts Receivable$412,791$151,118▼ $261,673
Land, Buildings, and Equipment, Net$118,183$77,285▼ $40,898
Prepaid Expenses and Deferred Charges$3,183--
Total Assets$833,605$1,160,048▲ $326,443
Other Assets Total$42,820$0▼ $42,820
Liabilities
Other Liabilities$0$213,601▲ $213,601
Accounts Payable and Accrued Expenses$169,832$180,810▲ $10,978
Total Liabilities$169,832$394,411▲ $224,579
Net Assets / Fund Balance
Unrestricted Net Assets$662,243$764,107▲ $101,864
Temporarily Rstr Net Assets$1,530$1,530→ $0
Total Net Assets Fund Balance$663,773$765,637▲ $101,864
Total Liabilities and Net Assets / Fund Balance$833,605$1,160,048▲ $326,443

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$74,694$502,162$576,856
Other Land Buildings$2,591$38,349$40,940
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patrice PayneHead of School - TermFT$86,493$16,151$102,644

Board Members and Trustees

NameTitle
Tommy DuffVice President
Deshon CarrBoard Member
Ronald NolenBoard Member
Nedra JoinerSecretary
Vincent HardmanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Accel Schools LLCManagement Services10251 N 35TH AVE, Phoenix, AZ 85051$410,192
Kaleidoscope Family SolutionSupport ServicesPO BOX 884, Bryn Mawr, PA 19010$142,447
Revenue and Support

Revenue Composition

Contributions and Grants
$3,482,585
Program Service Revenue
$20,525
Investment Income
$310
Other Revenue
$710
Change in Net Assets
$101,864

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,504,130
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$823,122
Total Revenue per Audited Statements
$4,327,252
Total Revenue per Form 990
$3,504,130
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,086,607
Other Expenses$1,315,659
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,391,013$256,275-$1,647,288
Occupancy$370,754$41,195-$411,949
Fees for Services Management$167,907$163,254-$331,161
Fees for Services Other$164,407$104,739-$269,146
Other Employee Benefits$143,769$22,885-$166,654
Pension Plan Contributions$119,635$5,374-$125,009
Payroll Taxes$74,120$25,019-$99,139
Office Expenses-$59,093-$59,093
Current Officers, Directors, Trustees, and Key Employees-$48,517-$48,517
Depreciation Depletion$36,808$4,090-$40,898
Fees for Services Accounting-$21,500-$21,500
Insurance-$18,008-$18,008
Advertising-$12,169-$12,169
Other Expenses$10,249$165-$10,414
All Other Expenses-$3,215-$3,215
Travel-$2,064-$2,064
Total Functional Expenses$2,614,704$787,562$0$3,402,266

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,225,388
Expenses per Audited Statements$3,402,266
Total Expenses per Form 990$3,402,266
Expenses Not Reported on Form 990$823,122
Expenses Not Reported on Financial Statements$0
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 Management Company$213,601
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Frazier academy design team delegated control over management duties for the school to accel schools illinois, llc to whom they paid a management fee.”

Form 990, Part VI, Section B, Line 11B

“The president of the board provides a copy of the final draft 990 to the board of trustees. The board of trustees reviews the form 990 prior to its filing and asks questions if they have any. A copy of the final 990 is provided to all board members prior to filing.”

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

“The board of directors are required on an annual basis to affirm their understanding and compliance with the conflict of interest policy in the form of an annual statement. No conflict of interest has arisen to date, therefore no enforcement has been needed. All interested parties self monitor throughout the year and if a conflict is identified then the interested person is required to disclose the conflict immediately.”

Form 990, Part VI, Section B, Line 15

“The board of trustees reviews the salary structures of officers and employees on an annual basis using comparability data provided by chicago public schools. The deliberation and decisions regarding salary are documented in the board of directors meeting minutes.”

Form 990, Part VI, Section C, Line 19

“Documents are maintained on file for public review in the school's office.”

Filing and Contact Details

Filer

Filer Name
Frazier Academy Design Team Inc
EIN
20-5471007
Phone
7735346776
Address
3711 W DOUGLAS BLVD SUITE 309, CHICAGO, IL 60623
Doing Business As
Frazier Preparatory Academy

Signing Officer

Name
Vincent Hardman
Title
Board Treasurer
Phone
7735346776
Signed
2019-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tommy Duff
Formed
2006
Legal Domicile
Il
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
7

Preparer

Firm
Ostrow Reisin Berk & Abrams Ltd
Address
455 N CITYFRONT PLAZA DR SUITE 1500, CHICAGO, IL 60611
Preparer
Larry Sophian
Phone
3126707444
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Frazier is a tax-exempt organization as described in section 501(c)(3) of the internal revenue code (the code) and is exempt from federal income taxes on related income pursuant to section 501(a) of the code. In addition, the internal revenue service has determined that frazier is not a private foundation within the meaning of section 509(a) of the code. Frazier has adopted the requirements for accounting for uncertain tax positions and management has determined that frazier was not required to record a liability related to uncertain tax positions as of june 30, 2018 and 2017.”

Raw XML AppendixShowing 400 of 418 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PYExcessBenefitTransInd00
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03994323
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0101864
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt020525
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0256628
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0931645
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0213601
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO MANAGEMENT COMPANY
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03504130
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FRAZIER IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. IN ADDITION, THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT FRAZIER IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE CODE. FRAZIER HAS ADOPTED THE REQUIREMENTS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS AND MANAGEMENT HAS DETERMINED THAT FRAZIER WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2018 AND 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt03402266
IRS990ScheduleD/TotalLiabilityAmt0213601
IRS990ScheduleD/TotalRevenuePerForm990Amt03504130
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04327252
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04225388
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAINTAINS A RACIALLY NONDISCRIMINATORY POLICY AND COMMUNICATES THIS POLICY TO ALL PROSPECTIVE STUDENTS AND THEIR FAMILIES. A COPY OF THE POLICY IS ALSO AVAILABLE UPON REQUEST.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVED FEDERAL AND STATE GOVERNMENTAL FUNDS PASSED THROUGH CHICAGO PUBLIC SCHOOLS TO ASSIST IN THE SCHOOL'S EFFORT TO PROVIDE AN EDUCATION, OPEN TO THE PUBLIC, AND AVAILABLE TO ANY CITY OF CHICAGO STUDENT.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FRAZIER ACADEMY DESIGN TEAM DELEGATED CONTROL OVER MANAGEMENT DUTIES FOR THE SCHOOL TO ACCEL SCHOOLS ILLINOIS, LLC TO WHOM THEY PAID A MANAGEMENT FEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT OF THE BOARD PROVIDES A COPY OF THE FINAL DRAFT 990 TO THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES REVIEWS THE FORM 990 PRIOR TO ITS FILING AND ASKS QUESTIONS IF THEY HAVE ANY. A COPY OF THE FINAL 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS ARE REQUIRED ON AN ANNUAL BASIS TO AFFIRM THEIR UNDERSTANDING AND COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IN THE FORM OF AN ANNUAL STATEMENT. NO CONFLICT OF INTEREST HAS ARISEN TO DATE, THEREFORE NO ENFORCEMENT HAS BEEN NEEDED. ALL INTERESTED PARTIES SELF MONITOR THROUGHOUT THE YEAR AND IF A CONFLICT IS IDENTIFIED THEN THE INTERESTED PERSON IS REQUIRED TO DISCLOSE THE CONFLICT IMMEDIATELY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF TRUSTEES REVIEWS THE SALARY STRUCTURES OF OFFICERS AND EMPLOYEES ON AN ANNUAL BASIS USING COMPARABILITY DATA PROVIDED BY CHICAGO PUBLIC SCHOOLS. THE DELIBERATION AND DECISIONS REGARDING SALARY ARE DOCUMENTED IN THE BOARD OF DIRECTORS MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE MAINTAINED ON FILE FOR PUBLIC REVIEW IN THE SCHOOL'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,160,048
Liabilities
$394,411
Net assets
$765,637
Revenue
$3,504,130
Expenses
$3,402,266
Net income
$101,864
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$3.13$3.68$0.55
2019Detailed filing. Detailed filing data is available for this year.$1.00$0.46$0.55$3.26$3.48$0.22
2018Detailed filing. Detailed filing data is available for this year.$1.16$0.39$0.77$3.50$3.40$0.10
2017Detailed filing. Detailed filing data is available for this year.$0.83$0.17$0.66$3.99$3.86$0.13
2016Detailed filing. Detailed filing data is available for this year.$1.03$0.49$0.53$4.01$3.96$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.72$0.23$0.49$3.84$3.70$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.71$0.35$0.36$3.71$3.47$0.24
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.38$0.12$3.54
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.76$0.14$3.24
2011Summary only. Only limited summary data is available for this year.$1.02$0.26$0.77$3.33$3.06$0.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.31$0.50$3.51