Liabilities / Assets
54th percentile
Higher debt load relative to assets than 54% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.17x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
92nd percentile
Faster asset growth than 92% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Up$1,286,144
Up $424,900 (+49%) from 2010
Net Assets
Up$1,068,857
Up $290,514 (+37%) from 2010
Liabilities
Up$217,287
Up $134,386 (+162%) from 2010
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Up$2,846,902
Up $1,343,543 (+89%) from 2010
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2010 to Jun 30, 2011
- Signed
- Nov 28, 2011
- Return Version
- 2010v3.4
- Gross Receipts
- $3,137,417
Mission and Program Overview
Mission
Epic academy (the "academy") was formed to provide educational services to high school students with a rigorous college preparatory curriculum. The academy is supported primarily through per capita tuition payments under a performance agreement (the "agreement") with chicago public schools ("cps") and the chicago board of education (the "board"). Additional support is provided by grants from state and federal agencies, various community and corporate foundations, and the general public. The academy has been certified as a charter school by the illinois state board of education, effective july 1, 2010. The first instruction year commenced in september 2009 with 120 students in the 9th grade. The academy supports grades 9 through 12, to an anticipated total capacity of 600 students in future years. The academy is located in chicago, illinois. The academy will not charge tuition to any student, unless the student would otherwise be liable under the school code, as defined within the agree
Filing and Contact Details
Filer
- EIN
- 20-8674711
Raw XML AppendixShowing 400 of 458 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.
| Path | # | Value |
|---|---|---|
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| IRS990/ActivitiesConductedPartnership | 0 | false |
| IRS990/ActivityOrMissionDescription | 0 | EPIC ACADEMY (THE "ACADEMY") WAS FORMED TO PROVIDE EDUCATIONAL SERVICES TO 480 HIGH SCHOOL STUDENTS WITH A RIGOROUS COLLEGE PREPARATORY CURRICULUM BASED ON THE EXPEDITIONARY LEARNING SCHOOL MODEL. THE ACADEMY IS SUPPORTED PRIMARILY THROUGH PER CAPITA TUITION PAYMENTS UNDER A PERFORMANCE AGREEMENT (THE "AGREEMENT") WITH CHICAGO PUBLIC SCHOOLS ("CPS") AND THE CHICAGO BOARD OF EDUCATION (THE "BOARD"). THE AGREEMENT IS IN EFFECT FOR AN INITIAL TERM OF FIVE YEARS, BEGINNING JULY 1, 2009. ADDITIONAL SUPPORT IS PROVIDED BY GRANTS FROM STATE AND FEDERAL AGENCIES, VARIOUS COMMUNITY AND CORPORATE FOUNDATIONS, AND THE GENERAL PUBLIC. THE ACADEMY HAS BEEN CERTIFIED AS A CHARTER SCHOOL BY THE ILLINOIS STATE BOARD OF EDUCATION, EFFECTIVE JULY 1, 2010. THE FIRST INSTRUCTION YEAR COMMENCED IN SEPTEMBER 2009 WITH 120 STUDENTS IN THE 9TH GRADE. THE ACADEMY WILL SUPPORT GRADES 9 THROUGH 12, TO A TOTAL CAPACITY OF 480 STUDENTS, IN FUTURE YEARS. THE ACADEMY IS LOCATED IN CHICAGO, ILLINOIS. THE ACADEMY WILL |
| IRS990/AddressPrincipalOfficerUS/AddressLine1 | 0 | 8255 S HOUSTON AVE |
| IRS990/AddressPrincipalOfficerUS/City | 0 | CHICAGO |
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| IRS990/Description | 0 | RIGOROUS COLLEGE CURRICULUM TO PREPARE STUDENTS FOR COLLEGE AND CAREER SUCCESS. IN CARRYING OUT ITS EXEMPT PURPOSE, THE ORGANIZATION INCURRED TRAINING AND SET UP FEES WHICH WERE PROVIDED FREE OF CHARGE. FAIR VALUE OF SUCH FEES WAS 27,567. |
| IRS990/DisregardedEntity | 0 | false |
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| IRS990/FeesForServicesLegal/ManagementAndGeneral | 0 | 818 |
| IRS990/FeesForServicesLegal/Total | 0 | 818 |
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| IRS990/ForeignFinancialAccount | 0 | false |
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| IRS990/MissionDescription | 0 | EPIC ACADEMY (THE "ACADEMY") WAS FORMED TO PROVIDE EDUCATIONAL SERVICES TO 480 HIGH SCHOOL STUDENTS WITH A RIGOROUS COLLEGE PREPARATORY CURRICULUM BASED ON THE EXPEDITIONARY LEARNING SCHOOL MODEL. THE ACADEMY IS SUPPORTED PRIMARILY THROUGH PER CAPITA TUITION PAYMENTS UNDER A PERFORMANCE AGREEMENT (THE "AGREEMENT") WITH CHICAGO PUBLIC SCHOOLS ("CPS") AND THE CHICAGO BOARD OF EDUCATION (THE "BOARD"). THE AGREEMENT IS IN EFFECT FOR AN INITIAL TERM OF FIVE YEARS, BEGINNING JULY 1, 2009. ADDITIONAL SUPPORT IS PROVIDED BY GRANTS FROM STATE AND FEDERAL AGENCIES, VARIOUS COMMUNITY AND CORPORATE FOUNDATIONS, AND THE GENERAL PUBLIC. THE ACADEMY HAS BEEN CERTIFIED AS A CHARTER SCHOOL BY THE ILLINOIS STATE BOARD OF EDUCATION, EFFECTIVE JULY 1, 2010. THE FIRST INSTRUCTION YEAR COMMENCED IN SEPTEMBER 2009 WITH 120 STUDENTS IN THE 9TH GRADE. THE ACADEMY WILL SUPPORT GRADES 9 THROUGH 12, TO A TOTAL CAPACITY OF 480 STUDENTS, IN FUTURE YEARS. THE ACADEMY IS LOCATED IN CHICAGO, ILLINOIS. THE ACADEMY WILL |
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| IRS990ScheduleD/ExpensesSubtotal | 0 | 2846902 |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 0 | ACCOUNTING STANDARDS PROVIDE GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE ACADEMY'S INFORMATION RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE-LIKELY-THAN-NOT" OF BEING SUSTAINED "WHEN CHALLENGED" OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX BENEFIT AND ASSET OR EXPENSE AND LIABILITY IN THE CURRENT YEAR. THE ACADEMY FILES INFORMATION RETURNS IN THE U.S. FEDERAL JURISDICTION AND ILLINOIS STATE JURISDICTION. AS OF AND FOR THE YEARS ENDED JUNE 30, 2011 AND 2010, THE ACADEMY HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS. |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier | 0 | LIABILITY UNDER FIN 48 FOOTNOTE |
| IRS990ScheduleD/Form990ScheduleDPartXIV/ReturnReference | 0 | SCHEDULE D, PAGE 3, PART X |
| IRS990ScheduleD/IncludedOnFS | 0 | false |
| IRS990ScheduleD/OtherLiabilities/Amount | 0 | 204533 |
| IRS990ScheduleD/OtherLiabilities/Description | 0 | OTHER LIABILITIES |
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| IRS990ScheduleD/RevenueSubtotal | 0 | 3137417 |
| IRS990ScheduleD/Sect170hRequirementsSatisfied | 0 | false |
| IRS990ScheduleD/SolicitedAssetsForSale | 0 | false |
| IRS990ScheduleD/TotalExpenses | 0 | 2846902 |
| IRS990ScheduleD/TotalExpensesPerForm990 | 0 | 2846902 |
| IRS990ScheduleD/TotalOfAmounts | 0 | 204533 |
| IRS990ScheduleD/TotalOfBookValueLandBuildings | 0 | 368601 |
| IRS990ScheduleD/TotalRevenue | 0 | 3137417 |
| IRS990ScheduleD/TotalRevenuePerForm990 | 0 | 3137417 |
| IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt | 0 | 2874469 |
| IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt | 0 | 3164984 |
| IRS990ScheduleD/WrittenPolicyMonitoring | 0 | false |
| IRS990/ScheduleJRequired | 0 | false |
| IRS990ScheduleM/AnyPropertyThatMustBeHeld | 0 | false |
| IRS990ScheduleM/OtherNonCashContributionsTable/Description | 0 | EQUIPMENT |
| IRS990ScheduleM/OtherNonCashContributionsTable/MethodOfDeterminingRevenues | 0 | FAIR VALUE |
| IRS990ScheduleM/OtherNonCashContributionsTable/NonCashCheckbox | 0 | X |
| IRS990ScheduleM/OtherNonCashContributionsTable/NoncashContribsRptdF990 | 0 | 32400 |
| IRS990ScheduleM/OtherNonCashContributionsTable/NumberOfContributions | 0 | 1 |
| IRS990ScheduleM/ReviewProcessUnusualNCGifts | 0 | false |
| IRS990ScheduleM/ThirdPartiesUsed | 0 | false |
| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | EPIC ACADEMY (THE "ACADEMY") WAS FORMED TO PROVIDE EDUCATIONAL SERVICES TO 480 HIGH SCHOOL STUDENTS WITH A RIGOROUS COLLEGE PREPARATORY CURRICULUM BASED ON THE EXPEDITIONARY LEARNING SCHOOL MODEL. THE ACADEMY IS SUPPORTED PRIMARILY THROUGH PER CAPITA TUITION PAYMENTS UNDER A PERFORMANCE AGREEMENT (THE "AGREEMENT") WITH CHICAGO PUBLIC SCHOOLS ("CPS") AND THE CHICAGO BOARD OF EDUCATION (THE "BOARD"). THE AGREEMENT IS IN EFFECT FOR AN INITIAL TERM OF FIVE YEARS, BEGINNING JULY 1, 2009. ADDITIONAL SUPPORT IS PROVIDED BY GRANTS FROM STATE AND FEDERAL AGENCIES, VARIOUS COMMUNITY AND CORPORATE FOUNDATIONS, AND THE GENERAL PUBLIC. THE ACADEMY HAS BEEN CERTIFIED AS A CHARTER SCHOOL BY THE ILLINOIS STATE BOARD OF EDUCATION, EFFECTIVE JULY 1, 2010. THE FIRST INSTRUCTION YEAR COMMENCED IN SEPTEMBER 2009 WITH 120 STUDENTS IN THE 9TH GRADE. THE ACADEMY WILL SUPPORT GRADES 9 THROUGH 12, TO A TOTAL CAPACITY OF 480 STUDENTS, IN FUTURE YEARS. THE ACADEMY IS LOCATED IN CHICAGO, ILLINOIS. THE ACADEMY WILL NOT CHARGE TUITION TO ANY STUDENT, UNLESS THE STUDENT WOULD OTHERWISE BE LIABLE UNDER THE SCHOOL CODE, AS DEFINED WITHIN THE AGREEMENT WITH THE BOARD. THE ACADEMY MAY CHARGE REASONABLE FEES AS PERMITTED FOR TEXTBOOKS, INSTRUCTIONAL MATERIAL, SUMMER SCHOOL PROGRAMS, AFTER SCHOOL PROGRAMS AND OTHER STUDENT ACTIVITIES. THE PER CAPITA TUITION PAYMENT FOR EACH STUDENT FROM THE BOARD IS TO BE CALCULATED ON THE BASIS OF THE BUDGET ADOPTED BY THE BOARD EACH FISCAL YEAR AND PAID TO THE ACADEMY ON A QUARTERLY BASIS. THESE PAYMENTS ARE REDUCED BY A FACILITY CHARGE TO THE ACADEMY FOR USE OF THE CPS FACILITY. THE ACADEMY MAY BE ELIGIBLE FOR ADDITIONAL FUNDING FOR PROGRAMS SUCH AS SPECIAL EDUCATION REIMBURSEMENTS AND SUPPLEMENTAL PROGRAMS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | TRUSTEES COMPRISE THE BOARD AND EACH ARE ELIGIBLE TO ONE VOTE |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS PRESIDENT |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | THE POLICY IS MONITORED AND ENFORCED BY THE EXECUTIVE DIRECTOR AND CHIEF OPERATING OFFICER. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | COMPENSATION IS DETERMINED BY INDEPENDENT PERSONS |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | UPON REQUEST |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | ORGANIZATION'S MISSION |
| IRS990ScheduleO/GeneralExplanation/Identifier | 1 | ELECTION OF MEMBERS AND THEIR RIGHTS |
| IRS990ScheduleO/GeneralExplanation/Identifier | 2 | ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 |
| IRS990ScheduleO/GeneralExplanation/Identifier | 3 | ENFORCEMENT OF CONFLICTS POLICY |
| IRS990ScheduleO/GeneralExplanation/Identifier | 4 | COMPENSATION PROCESS FOR TOP OFFICIAL |
| IRS990ScheduleO/GeneralExplanation/Identifier | 5 | GOVERNING DOCUMENTS DISCLOSURE EXPLANATION |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990/ScheduleORequired | 0 | true |
| IRS990/School | 0 | false |
| IRS990/SignificantChange | 0 | false |
| IRS990/SignificantNewProgramServices | 0 | false |
| IRS990/StateLegalDomicile | 0 | IL |
| IRS990/StatesWhereCopyOfReturnIsFiled | 0 | IL |
| IRS990/SubjectToProxyTax | 0 | false |
| IRS990/TaxablePartyNotification | 0 | false |
| IRS990/TaxExemptBonds | 0 | false |
| IRS990/TemporarilyRestrictedNetAssets/BOY | 0 | 312272 |
| IRS990/TemporarilyRestrictedNetAssets/EOY | 0 | 293264 |
| IRS990/Terminated | 0 | false |
| IRS990/TermOrPermanentEndowments | 0 | false |
| IRS990/TheBooksAreInCareOf/AddressUS/AddressLine1 | 0 | 8255 S HOUSTON AVE |
| IRS990/TheBooksAreInCareOf/AddressUS/City | 0 | CHICAGO |
| IRS990/TheBooksAreInCareOf/AddressUS/State | 0 | IL |
| IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode | 0 | 60617 |
| IRS990/TheBooksAreInCareOf/NamePerson | 0 | MATTHEW KING |
| IRS990/TheBooksAreInCareOf/TelephoneNumber | 0 | 7737104147 |
| IRS990/TotalAssets/BOY | 0 | 861243 |
| IRS990/TotalAssetsBOY | 0 | 861243 |
| IRS990/TotalAssets/EOY | 0 | 1286144 |
| IRS990/TotalAssetsEOY | 0 | 1286144 |
| IRS990/TotalCompGT150K | 0 | false |
| IRS990/TotalContributions | 0 | 3109624 |
| IRS990/TotalExpensesCurrentYear | 0 | 2846902 |
| IRS990/TotalExpensesPriorYear | 0 | 1503359 |
| IRS990/TotalFunctionalExpenses/Fundraising | 0 | 25022 |
| IRS990/TotalFunctionalExpenses/ManagementAndGeneral | 0 | 425416 |
| IRS990/TotalFunctionalExpenses/ProgramServices | 0 | 2396464 |
| IRS990/TotalFunctionalExpenses/Total | 0 | 2846902 |
| IRS990/TotalFundrsngExpCurrentYear | 0 | 25022 |
| IRS990/TotalGrossUBI | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $1,286,144
- Liabilities
- $217,287
- Net assets
- $1,068,857
- Revenue
- -
- Expenses
- $2,846,902
- Net income
- -