Civic Intelligence

Prestige Academy Inc

990 • Fiscal year 2014 • EIN 20-8285385

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 14, 2015

Organization Profileprestigeacademycs.org
1121 Thatcher St19802

(302) 762-3240

Siviq Scores

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

Liabilities / Assets

89th percentile

0.90x

Higher debt load relative to assets than 89% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

82nd percentile

0.82x

Higher debt load relative to revenue than 82% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

26th percentile

-5.5%

Higher net margin than 26% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

70th percentile

$100,246

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

13th percentile

-8.7%

Faster asset growth than 13% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

22nd percentile

-8.9%

Faster revenue growth than 22% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$3,534,936

Down $337,479 (-8.7%) from 2013

Net Assets

Down

$356,141

Down $212,143 (-37%) from 2013

Liabilities

Down

$3,178,795

Down $125,336 (-3.8%) from 2013

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin26th percentile

Revenue

Down

$3,863,483

Down $376,661 (-8.9%) from 2013

Expenses

Up

$4,075,626

Up $142,370 (+3.6%) from 2013

Net Income

Down

-$212,143

Down $519,031 (-169%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2010: $3,175,030Liabilities 2010: $3,154,213Net Assets 2010: $20,8172010Assets 2011: $3,152,402Liabilities 2011: $3,211,494Net Assets 2011: -$59,0922011Assets 2012: $3,592,086Liabilities 2012: $3,294,048Net Assets 2012: $298,0382012Assets 2013: $3,872,415Liabilities 2013: $3,304,131Net Assets 2013: $568,2842013Assets 2014: $3,534,936Liabilities 2014: $3,178,795Net Assets 2014: $356,1412014Assets 2015: $3,368,662Liabilities 2015: $3,860,615Net Assets 2015: -$491,9532015Assets 2016: $3,027,239Liabilities 2016: $3,929,325Net Assets 2016: -$902,0862016

Highlighted filing

2014

Assets$3,534,936
Liabilities$3,178,795
Net Assets$356,141
Open 2014 Filing

Operations Trend

Revenue Growth22nd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,644,9922010Expenses 2011: $3,049,5042011Expenses 2012: $3,528,4572012Revenue 2013: $4,240,144Expenses 2013: $3,933,256Net Income 2013: $306,8882013Revenue 2014: $3,863,483Expenses 2014: $4,075,626Net Income 2014: -$212,1432014Revenue 2015: $3,437,524Expenses 2015: $3,507,629Net Income 2015: -$70,1052015Revenue 2016: $3,448,466Expenses 2016: $3,858,599Net Income 2016: -$410,1332016

Highlighted filing

2014

Revenue$3,863,483
Expenses$4,075,626
Net Income-$212,143
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 14, 2015
Return Version
2013v4.0
Gross Receipts
$3,863,483
Mission and Program Overview

Mission

Prestige Academy prepares young

Prestige Academy prepares young men in grades 5-8 for admission to and success in demanding college preparatory high schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,796,517$2,716,873▼ $79,644
Cash and Non-Interest-Bearing Accounts$1,032,567$756,532▼ $276,035
Accounts Receivable$35,437$53,386▲ $17,949
Total Assets$3,872,415$3,534,936▼ $337,479
Other Assets Total$7,894$8,145▲ $251
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,993,311$2,933,912▼ $59,399
Accounts Payable and Accrued Expenses$310,820$244,883▼ $65,937
Total Liabilities$3,304,131$3,178,795▼ $125,336
Net Assets / Fund Balance
Temporarily Rstr Net Assets$283,184$215,187▼ $67,997
Unrestricted Net Assets$285,100$140,954▼ $144,146
Total Net Assets Fund Balance$568,284$356,141▼ $212,143
Total Liabilities and Net Assets / Fund Balance$3,872,415$3,534,936▼ $337,479

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,249,341$321,335-
Other Land Buildings$37,532$34,220-
Land$430,000--
Equipment-$37,000-
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jack PerryExecutive DirectorFT$100,246$100,246

Board Members and Trustees

NameTitle
Don MellBoard Chair
Rita VastaVice Chair
Charles MaddenBoard Member
Dana BalickBoard Member
Eric MoselyBoard Member
Robert RitterbeckBoard Member
Tanya JacksonBoard Member
Tony HillBoard Member
Tarik HaskinsBoard Memeber
Rodney MerriweatherTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,835,714
Program Service Revenue
$150
Investment Income
$2,131
Other Revenue
$25,488
All Other Contributions
$87,831
Change in Net Assets
$-212,143

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,863,483
Total Revenue per Audited Statements
$3,863,483
Total Revenue per Form 990
$3,863,483
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,379,114
Other Expenses$1,696,512
Total Fundraising Expense$3,054
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,559,900$0$0$1,559,900
All Other Expenses$727,580$0$0$727,580
Pension Plan Contributions$345,084$0$0$345,084
Fees for Services Other$335,377$6,002$0$341,379
Other Employee Benefits$220,583$0$0$220,583
Occupancy$184,347$20,483$0$204,830
Payroll Taxes$153,301$0$0$153,301
Interest$117,465$13,052$0$130,517
Current Officers, Directors, Trustees, and Key Employees$90,221$10,025$0$100,246
Office Expenses$80,384$0$0$80,384
Depreciation Depletion$79,644$0$0$79,644
Advertising$35,388$0$0$35,388
Information Technology$28,961$0$0$28,961
Insurance$22,966$0$0$22,966
Travel$17,228$0$0$17,228
Fees for Services Legal$3,483$0$0$3,483
Other Expenses$1,891$0$0$1,891
Total Functional Expenses$4,023,010$49,562$3,054$4,075,626

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,075,626
Total Expenses per Audited Statements$4,075,626
Total Expenses per Form 990$4,075,626
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

EIN
20-8285385
Phone
3027623240

Signing Officer

Name
Jack Perry
Title
Executive Director
Phone
3027623240
Signed
2015-02-14
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Legal Domicile
De
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
10

Preparer

Preparer
Michelle J Lambert CPA
Phone
3023195181
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The Form 990 is submitted to the Finance Committee and Board for review”

Pt VI, Line 12C

“A conflict of Interest Certification is required to be reviewed and signed by all Directors”

Pt VI, Line 15A

“The board reviewed comparable data to determine & approve compensation”

Pt VI, Line 15B

“The board reviewed comparable data to determine & approve compensation”

Form 990, Part IX, Line 24F

“Bank charges 492. 492. 0. 0. Instructional supplies 32916. 32916. 0. 0. License & permits library books 8311. 8311. 0. 0. Student body activity 60623. 60623. 0. 0. Athletic supplies 411. 411. 0. 0. Text books 41555. 41555. 0. 0. Student uniforms 8766. 8766. 0. 0. Commencement supplies student transportation services 269952. 269952. 0. 0. Student lunch program 192568. 192568. 0. 0. Student desk(below capital threshold) instruction equipment (below capital threshold) 45188. 45188. 0. 0. Nursing su”

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IRS990/Desc0INSTRUCTIONAL SERVICES-IN A HIGHLY STRUCTURED, ACHIEVEMENT-ORIENTED SCHOOL CULTURE, PRESTIGE ACADEMY STUDENTS DEVELOP A STRONG ACADEMIC FOUNDATION IN THE CORE SUBJECTS AND THE REAL VALUES NECESSARY FOR SUCCESS: RESPECT AND RESPONSIBILITY, EXCELLENCE IN BEHAVIOR, ACADEMIC MASTERY, AND LEADERSHIP. PRESTIGE ACADEMY IS A START UP CHARTER SCHOOL THAT HAS ENROLLED 299 FIFTH,SIXTH,SEVENTH & EIGTH GRADERS.
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Other Income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt025488
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt025488
IRS990/OtherRevenueTotalAmt025488
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01559900
IRS990/OtherSalariesAndWagesGrp/TotalAmt01559900
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt0153301
IRS990/PayrollTaxesGrp/TotalAmt0153301
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt00
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0345084
IRS990/PensionPlanContributionsGrp/TotalAmt0345084
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfcrBusinessAddress/BusinessNameLine10Jack Perry
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0School Lunch Fees
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0150
IRS990/ProgSrvcAccomActy2Grp/Desc0LUNCH NUTRITION PROGRAM-ADMINISTER NUTRITIONALLY BALANCED,LOW COST OR FREE BREAKFAST AND LUNCHES TO 299 ENROLLED STUDENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0192568
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0213268
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt04185312
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt02826
IRS990/PYOtherExpensesAmt01575027
IRS990/PYOtherRevenueAmt051450
IRS990/PYProgramServiceRevenueAmt0556
IRS990/PYRevenuesLessExpensesAmt0306888
IRS990/PYSalariesCompEmpBnftPaidAmt02356729
IRS990/PYTotalExpensesAmt03933256
IRS990/PYTotalProfFndrsngExpnsAmt01500
IRS990/PYTotalRevenueAmt04240144
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-212143
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03650367
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt03861354
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt04237318
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03882617
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02914080
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02293028
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt017188397
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02826
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02970
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01968
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt05743
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt013507
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99920
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct00.99900
IRS990ScheduleA/PublicSupportTotal170Amt017188397
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt03861354
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt04237318
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt03882617
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02914080
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02293028
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt017188397
IRS990ScheduleA/TotalSupportAmt017201904
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt02249341
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0321335
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt02570676
IRS990ScheduleD/EquipmentGrp/DepreciationAmt037000
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt037000
IRS990ScheduleD/ExpensesSubtotalAmt04075626
IRS990ScheduleD/LandGrp/BookValueAmt0430000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0430000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt037532
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt034220
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt071752
IRS990ScheduleD/RevenueSubtotalAmt03863483
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02716873
IRS990ScheduleD/TotalExpensesPerForm990Amt04075626
IRS990ScheduleD/TotalRevenuePerForm990Amt03863483
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03863483
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04075626
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/ExplanationTxt0NON DISCRIMINATION NOTICE POSTED ON WEBSITE AND SOLICITAION MATERIALS
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1PRESTIGE ACADEMY IS A COMPONENT UNIT OF THE STATE OF DE AND RECIEVES MORE THAN 70% OF ITS SUPPORT FROM THE STATE
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 is submitted to the Finance Committee and Board for review
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A conflict of Interest Certification is required to be reviewed and signed by all Directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board reviewed comparable data to determine & approve compensation
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The board reviewed comparable data to determine & approve compensation
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BANK CHARGES 492. 492. 0. 0. INSTRUCTIONAL SUPPLIES 32916. 32916. 0. 0. LICENSE & PERMITS LIBRARY BOOKS 8311. 8311. 0. 0. STUDENT BODY ACTIVITY 60623. 60623. 0. 0. ATHLETIC SUPPLIES 411. 411. 0. 0. TEXT BOOKS 41555. 41555. 0. 0. STUDENT UNIFORMS 8766. 8766. 0. 0. COMMENCEMENT SUPPLIES STUDENT TRANSPORTATION SERVICES 269952. 269952. 0. 0. STUDENT LUNCH PROGRAM 192568. 192568. 0. 0. STUDENT DESK(BELOW CAPITAL THRESHOLD) INSTRUCTION EQUIPMENT (BELOW CAPITAL THRESHOLD) 45188. 45188. 0. 0. NURSING SU
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,534,936
Liabilities
$3,178,795
Net assets
$356,141
Revenue
$3,863,483
Expenses
$4,075,626
Net income
-$212,143
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$3.03$3.93$0.90$3.45$3.86$0.41
2015Detailed filing. Detailed filing data is available for this year.$3.37$3.86$0.49$3.44$3.51$0.07
2014Detailed filing. Detailed filing data is available for this year.$3.53$3.18$0.36$3.86$4.08$0.21
2013Summary only. Only limited summary data is available for this year.$3.87$3.30$0.57$4.24$3.93$0.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.59$3.29$0.30$3.53
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.15$3.21$0.06$3.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.18$3.15$0.02$2.64