Civic Intelligence

Prestige Academy Inc

990 • Fiscal year 2015 • EIN 20-8285385

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 06, 2015

Organization Profileprestigeacademycs.org
1121 Thatcher StWilmington, DE 19802

(302) 762-3240

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.15x

Higher debt load relative to assets than 93% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

86th percentile

1.12x

Higher debt load relative to revenue than 86% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

33rd percentile

-2.0%

Higher net margin than 33% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

69th percentile

$100,265

Higher top officer pay than 69% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

23rd percentile

-4.7%

Faster asset growth than 23% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

21st percentile

-11%

Faster revenue growth than 21% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$3,368,662

Down $166,274 (-4.7%) from 2014

Net Assets

Down

-$491,953

Down $848,094 (-238%) from 2014

Liabilities

Up

$3,860,615

Up $681,820 (+21%) from 2014

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin33rd percentile

Revenue

Down

$3,437,524

Down $425,959 (-11%) from 2014

Expenses

Down

$3,507,629

Down $567,997 (-14%) from 2014

Net Income

Up

-$70,105

Up $142,038 (+67%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth23rd 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

2015

Assets$3,368,662
Liabilities$3,860,615
Net Assets-$491,953
Open 2015 Filing

Operations Trend

Revenue Growth21st 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

2015

Revenue$3,437,524
Expenses$3,507,629
Net Income-$70,105
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 6, 2015
Return Version
2014v5.0
Gross Receipts
$3,437,524
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$2,716,873$2,638,255▼ $78,618
Cash and Non-Interest-Bearing Accounts$756,532$550,144▼ $206,388
Accounts Receivable$53,386$21,112▼ $32,274
Total Assets$3,717,408$3,368,662▼ $348,746
Other Assets Total$190,617$159,151▼ $31,466
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,933,912$2,876,731▼ $57,181
Other Liabilities$960,461$730,318▼ $230,143
Accounts Payable and Accrued Expenses$244,883$253,566▲ $8,683
Total Liabilities$4,139,256$3,860,615▼ $278,641
Net Assets / Fund Balance
Temporarily Rstr Net Assets$215,187$144,703▼ $70,484
Unrestricted Net Assets$-637,035$-636,656▲ $379
Total Net Assets Fund Balance$-421,848$-491,953▼ $70,105
Total Liabilities and Net Assets / Fund Balance$3,717,408$3,368,662▼ $348,746

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,185,075$385,601-
Other Land Buildings$23,180$48,570-
Land$430,000--
Equipment-$37,000-
Other Assets Org$151,006--
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jack PerryExecutive DirectorFT$100,265$100,265

Board Members and Trustees

NameTitle
Don MellBoard Chair
Rita VastaVice Chair
Charles MaddenBoard Member
Dana BalickBoard Member
Eric MoselyBoard Member
Fred WestBoard Member
Melissa BratcherBoard Member
Robert RitterbeckBoard Member
Tarik HaskinsBoard Member
Tony HillSecretary
Rodney MerriweatherTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,405,362
Program Service Revenue
$0
Investment Income
$1,312
Other Revenue
$30,850
All Other Contributions
$347,031
Change in Net Assets
$-70,105

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,437,524
Total Revenue per Audited Statements
$3,437,524
Total Revenue per Form 990
$3,437,524
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,933,241
Other Expenses$1,574,388
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,741,346$91,650$0$1,832,996
Fees for Services Other$703,274$37,014$0$740,288
Other Expenses$159,258$8,382$0$167,640
Interest$112,221$5,906$0$118,127
Office Expenses$102,742$5,407$0$108,149
Current Officers, Directors, Trustees, and Key Employees$95,233$5,012$0$100,245
Depreciation Depletion$74,686$3,931$0$78,617
Insurance$21,450$1,129$0$22,579
Travel$6,745$355$0$7,100
Total Functional Expenses$3,332,249$175,380$0$3,507,629

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,507,629
Total Expenses per Audited Statements$3,507,629
Total Expenses per Form 990$3,507,629
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
Deferred Investments Related to Pension Activities$397,271
Net Pension Liability$333,047
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

Filer Name
Prestige Academy Inc
EIN
20-8285385
Phone
3027623240
Address
1121 Thatcher St, Wilmington, DE 19802

Signing Officer

Name
Cordie Greenlea
Title
Head of Schools
Phone
3027623240
Signed
2015-11-06
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Legal Domicile
De
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
10

Preparer

Firm
Michelle J Lambert CPA LLC
Address
1601 Concord Pike Suite 66, WILMINGTON, DE 19803
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”

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IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0173082
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0159428
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt03835714
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt02131
IRS990/PYOtherExpensesAmt01696512
IRS990/PYOtherRevenueAmt025488
IRS990/PYProgramServiceRevenueAmt0150
IRS990/PYRevenuesLessExpensesAmt0-212143
IRS990/PYSalariesCompEmpBnftPaidAmt02379114
IRS990/PYTotalExpensesAmt04075626
IRS990/PYTotalRevenueAmt03863483
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-70105
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03278096
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
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/BookValueAmt02185075
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0385601
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt02570676
IRS990ScheduleD/EquipmentGrp/DepreciationAmt037000
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt037000
IRS990ScheduleD/ExpensesSubtotalAmt03507629
IRS990ScheduleD/LandGrp/BookValueAmt0430000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0430000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt08145
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1151006
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Deferred Contributions related to Pension Activities
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt023180
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt048570
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt071750
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0333047
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1397271
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred Investments Related to Pension Activities
IRS990ScheduleD/RevenueSubtotalAmt03437524
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02638255
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0159151
IRS990ScheduleD/TotalExpensesPerForm990Amt03507629
IRS990ScheduleD/TotalLiabilityAmt0730318
IRS990ScheduleD/TotalRevenuePerForm990Amt03437524
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03437524
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03507629
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 NON 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/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15b
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0215187
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0144703
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03717408
IRS990/TotalAssetsEOYAmt03368662
IRS990/TotalAssetsGrp/BOYAmt03717408
IRS990/TotalAssetsGrp/EOYAmt03368662
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03405362
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0175380
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03332249
IRS990/TotalFunctionalExpensesGrp/TotalAmt03507629
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04139256
IRS990/TotalLiabilitiesEOYAmt03860615
IRS990/TotalLiabilitiesGrp/BOYAmt04139256
IRS990/TotalLiabilitiesGrp/EOYAmt03860615
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-421848
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-491953
IRS990/TotalProgramServiceExpensesAmt03332249
IRS990/TotalReportableCompFromOrgAmt0100265
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt032162
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03437524
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03717408

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,368,662
Liabilities
$3,860,615
Net assets
-$491,953
Revenue
$3,437,524
Expenses
$3,507,629
Net income
-$70,105
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