Civic Intelligence

Kipp Academy Charlotte

990 • Fiscal year 2022 • EIN 20-5664061

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 21, 2023

931 Wilann DriveCharlotte, NC 28215

(704) 537-2044

Siviq Scores

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

Liabilities / Assets

81st percentile

0.79x

Higher debt load relative to assets than 81% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

1.14x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Net Margin

56th percentile

9.6%

Higher net margin than 56% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$125,994

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Asset Growth

69th percentile

12%

Faster asset growth than 69% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

6th percentile

-37%

Faster revenue growth than 6% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$18,623,018

Up $2,064,759 (+12%) from 2021

Net Assets

Up

$3,945,638

Up $1,232,253 (+45%) from 2021

Liabilities

Up

$14,677,380

Up $832,506 (+6.0%) from 2021

Revenue

Down

$12,861,729

Down $7,498,475 (-37%) from 2021

Expenses

Up

$11,629,476

Up $1,419,892 (+14%) from 2021

Net Income

Down

$1,232,253

Down $8,918,367 (-88%) from 2021

Historical Trend

Balance Sheet Trend

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

$20M$10M$0-$10MAssets 2011: $3,628,967Liabilities 2011: $2,515,348Net Assets 2011: $1,113,6192011Assets 2012: $3,664,081Liabilities 2012: $2,407,634Net Assets 2012: $1,256,4472012Assets 2013: $3,379,032Liabilities 2013: $2,174,650Net Assets 2013: $1,204,3822013Assets 2014: $3,399,936Liabilities 2014: $2,197,907Net Assets 2014: $1,202,0292014Assets 2015: $3,742,230Liabilities 2015: $3,054,848Net Assets 2015: $687,3822015Assets 2016: $3,958,215Liabilities 2016: $2,993,464Net Assets 2016: $964,7512016Assets 2017: $4,915,434Liabilities 2017: $3,912,870Net Assets 2017: $1,002,5642017Assets 2018: $5,944,760Liabilities 2018: $12,186,048Net Assets 2018: -$6,241,2882018Assets 2019: $8,280,369Liabilities 2019: $14,971,979Net Assets 2019: -$6,691,6102019Assets 2020: $8,748,510Liabilities 2020: $16,185,745Net Assets 2020: -$7,437,2352020Assets 2021: $16,558,259Liabilities 2021: $13,844,874Net Assets 2021: $2,713,3852021Assets 2022: $18,623,018Liabilities 2022: $14,677,380Net Assets 2022: $3,945,6382022Assets 2023: $18,917,961Liabilities 2023: $14,118,396Net Assets 2023: $4,799,5652023Assets 2024: $19,405,457Liabilities 2024: $13,575,832Net Assets 2024: $5,829,6252024

Highlighted filing

2022

Assets$18,623,018
Liabilities$14,677,380
Net Assets$3,945,638

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2011: $3,137,7722011Revenue 2012: $3,377,221Expenses 2012: $3,234,393Net Income 2012: $142,8282012Expenses 2013: $3,644,5982013Revenue 2014: $3,320,813Expenses 2014: $3,323,166Net Income 2014: -$2,3532014Revenue 2015: $3,652,411Expenses 2015: $3,311,999Net Income 2015: $340,4122015Revenue 2016: $4,016,048Expenses 2016: $3,738,679Net Income 2016: $277,3692016Revenue 2017: $5,801,812Expenses 2017: $5,763,999Net Income 2017: $37,8132017Revenue 2018: $7,854,799Expenses 2018: $8,179,500Net Income 2018: -$324,7012018Revenue 2019: $8,428,762Expenses 2019: $8,879,084Net Income 2019: -$450,3222019Revenue 2020: $9,262,664Expenses 2020: $10,008,289Net Income 2020: -$745,6252020Revenue 2021: $20,360,204Expenses 2021: $10,209,584Net Income 2021: $10,150,6202021Revenue 2022: $12,861,729Expenses 2022: $11,629,476Net Income 2022: $1,232,2532022Revenue 2023: $13,101,242Expenses 2023: $12,278,405Net Income 2023: $822,8372023Revenue 2024: $13,841,843Expenses 2024: $13,008,030Net Income 2024: $833,8132024

Highlighted filing

2022

Revenue$12,861,729
Expenses$11,629,476
Net Income$1,232,253
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 21, 2023
Return Version
2021v4.1
Gross Receipts
$12,861,729
Mission and Program Overview

Mission

Operate a public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,454,574$11,286,342▼ $168,232
Cash and Non-Interest-Bearing Accounts$3,674,722$5,940,857▲ $2,266,135
Savings and Temporary Cash Investments$1,066,423$1,000,980▼ $65,443
Accounts Receivable$328,516$286,195▼ $42,321
Prepaid Expenses and Deferred Charges$34,024$16,755▼ $17,269
Total Assets$16,558,259$18,623,018▲ $2,064,759
Other Assets Total$0$91,889▲ $91,889
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,711,604$13,611,892▼ $99,712
Accounts Payable and Accrued Expenses$133,270$1,065,488▲ $932,218
Other Liabilities$0$0→ $0
Total Liabilities$13,844,874$14,677,380▲ $832,506
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,713,385$3,945,638▲ $1,232,253
Total Net Assets Fund Balance$2,713,385$3,945,638▲ $1,232,253
Total Liabilities and Net Assets / Fund Balance$16,558,259$18,623,018▲ $2,064,759

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,906,481$1,566,341$11,472,822
Land$1,369,040-$1,369,040
Equipment$10,821$197,524$208,345
Other Assets Org$91,889--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christian DrakeOperation ManagerFT$56,500$69,494$125,994
Christian Drake--$125,994-$125,994
Tiffany FlowersPrincipalFT$115,298-$115,298
Malcolm BrooksPrincipalFT$100,483-$100,483

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$12,266,188
Program Service Revenue
$570,818
Investment Income
$0
Other Revenue
$24,723
All Other Contributions
$544,791
Change in Net Assets
$1,232,253

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,861,729
Total Revenue per Audited Statements
$12,861,729
Total Revenue per Form 990
$12,861,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,961,274
Other Expenses$5,668,202
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,289,214$218,159$0$4,507,373
All Other Expenses$208,380$917,825$0$1,126,205
Other Employee Benefits$772,602$0$0$772,602
Interest$0$674,599$0$674,599
Payroll Taxes$369,651$17,981$0$387,632
Depreciation Depletion$8,881$300,116$0$308,997
Office Expenses$193,955$67,148$0$261,103
Current Officers, Directors, Trustees, and Key Employees$214,860$0$0$214,860
Conferences and Meetings$193,382$0$0$193,382
Occupancy$0$118,517$0$118,517
Insurance$0$94,810$0$94,810
Information Technology$89,368$0$0$89,368
Pension Plan Contributions$76,150$2,657$0$78,807
Other Expenses$58,681$0$0$58,681
Advertising$0$22,895$0$22,895
Travel$14,473$0$0$14,473
Fees for Services Accounting$0$12,250$0$12,250
Total Functional Expenses$7,160,042$4,469,434$0$11,629,476

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,629,476
Total Expenses per Audited Statements$11,629,476
Total Expenses per Form 990$11,629,476
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
x$0

Bond Issues

BondIssuerIssuedIssue PricePurpose
ATruist2020-09-23$11,515,000Purchase real estate

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$11,960,364$1,702,153-$239,205
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
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
No
Filing and Contact Details

Filer

Filer Name
KIPP Charlotte Inc
EIN
20-5664061
Phone
7045372044
Address
931 Wilann Drive, Charlotte, NC 28215

Signing Officer

Name
Dinesh Chopra
Title
Chair
Phone
7045372044
Signed
2023-02-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dinesh Chopra
Formed
2007
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
141
Volunteers
60

Preparer

Firm
Darrell L Keller CPA PA
Address
PO Box 1028, Kings Mountain, NC 28086
Preparer
Darrell L Keller
Phone
7047390771
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

Form 990 is reviewed by the board before filing.

Pt VI, Line 12C

Conflict of interest statements are signed annually.

Pt VI, Line 15A

Compared to other charter schools

Pt VI, Line 15B

Compared to other charter schools

Pt XI

Adoption of GASB 75 required restatement of beginning balance

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IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt091889
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0772602
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0772602
IRS990/OtherExpensesGrp/Desc0Field Trips
IRS990/OtherExpensesGrp/Desc1Contracted Services
IRS990/OtherExpensesGrp/Desc2Books and Supplies
IRS990/OtherExpensesGrp/Desc3Food Services
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11948937
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt273540
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
IRS990/OtherExpensesGrp/ProgramServicesAmt012946
IRS990/OtherExpensesGrp/ProgramServicesAmt1366816
IRS990/OtherExpensesGrp/ProgramServicesAmt2290683
IRS990/OtherExpensesGrp/ProgramServicesAmt358681
IRS990/OtherExpensesGrp/TotalAmt012946
IRS990/OtherExpensesGrp/TotalAmt12315753
IRS990/OtherExpensesGrp/TotalAmt2364223
IRS990/OtherExpensesGrp/TotalAmt358681
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0Auxillary space rentals
IRS990/OtherRevenueMiscGrp/Desc1Student activities
IRS990/OtherRevenueMiscGrp/Desc2Various
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/ExclusionAmt10
IRS990/OtherRevenueMiscGrp/ExclusionAmt20
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt015857
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt12267
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt26599
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt015857
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt12267
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt26599
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt10
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt20
IRS990/OtherRevenueTotalAmt024723
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0218159
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt04289214
IRS990/OtherSalariesAndWagesGrp/TotalAmt04507373
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt017981
IRS990/PayrollTaxesGrp/ProgramServicesAmt0369651
IRS990/PayrollTaxesGrp/TotalAmt0387632
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02657
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt076150
IRS990/PensionPlanContributionsGrp/TotalAmt078807
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt034024
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt016755
IRS990/PrincipalOfficerNm0Dinesh Chopra
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Food Service
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0570818
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt020163959
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt03194798
IRS990/PYOtherRevenueAmt0137658
IRS990/PYProgramServiceRevenueAmt058587
IRS990/PYRevenuesLessExpensesAmt010150620
IRS990/PYSalariesCompEmpBnftPaidAmt07014786
IRS990/PYTotalExpensesAmt010209584
IRS990/PYTotalRevenueAmt020360204
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01232253
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt012861729
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01066423
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01000980
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt09906481
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01566341
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt011472822
IRS990ScheduleD/EquipmentGrp/BookValueAmt010821
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0197524
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0208345
IRS990ScheduleD/ExpensesSubtotalAmt011629476
IRS990ScheduleD/LandGrp/BookValueAmt01369040
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01369040
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt091889
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Right to use leased assets net amort
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0x
IRS990ScheduleD/RevenueSubtotalAmt012861729
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011286342
IRS990ScheduleD/TotalBookValueOtherAssetsAmt091889
IRS990ScheduleD/TotalExpensesPerForm990Amt011629476
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt012861729
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012861729
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt011629476
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0This is a public charter school and as such adheres to all regulations put forth by the NC Department of Public Instruction. See explanation on page one.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1N/A
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.4$13.6$5.83$13.8$13.0$0.83
2023Detailed filing. Detailed filing data is available for this year.$18.9$14.1$4.80$13.1$12.3$0.82
2022Detailed filing. Detailed filing data is available for this year.$18.6$14.7$3.95$12.9$11.6$1.23
2021Detailed filing. Detailed filing data is available for this year.$16.6$13.8$2.71$20.4$10.2$10.2
2020Detailed filing. Detailed filing data is available for this year.$8.75$16.2$7.44$9.26$10.0$0.75
2019Detailed filing. Detailed filing data is available for this year.$8.28$15.0$6.69$8.43$8.88$0.45
2018Detailed filing. Detailed filing data is available for this year.$5.94$12.2$6.24$7.85$8.18$0.32
2017Detailed filing. Detailed filing data is available for this year.$4.92$3.91$1.00$5.80$5.76$0.04
2016Detailed filing. Detailed filing data is available for this year.$3.96$2.99$0.96$4.02$3.74$0.28
2015Detailed filing. Detailed filing data is available for this year.$3.74$3.05$0.69$3.65$3.31$0.34
2014Detailed filing. Detailed filing data is available for this year.$3.40$2.20$1.20$3.32$3.32$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.38$2.17$1.20$3.64
2012Summary only. Only limited summary data is available for this year.$3.66$2.41$1.26$3.38$3.23$0.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.63$2.52$1.11$3.14