Liabilities / Assets
57th percentile
Higher debt load relative to assets than 57% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.25x
Liabilities / Revenue
41st percentile
Higher debt load relative to revenue than 41% of similar nonprofits.
Net Margin
31st percentile
Higher net margin than 31% of similar nonprofits.
Top Officer Pay
50th percentile
Higher top officer pay than 50% of similar nonprofits.
Top officer pay equals 2.2% of source-year revenue.
Asset Growth
9th percentile
Faster asset growth than 9% of similar nonprofits.
Revenue Growth
28th percentile
Faster revenue growth than 28% of similar nonprofits.
Balance Sheet
Assets
Down$2,668,630
Down $341,156 (-11%) from 2014
Net Assets
Down$1,991,135
Down $91,163 (-4.4%) from 2014
Liabilities
Down$677,495
Down $249,993 (-27%) from 2014
Revenue And Expenses
Revenue
Down$5,302,453
Down $243,334 (-4.4%) from 2014
Expenses
Down$5,393,616
Down $106,349 (-1.9%) from 2014
Net Income
Down-$91,163
Down $136,985 (-299%) from 2014
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2014 to Jun 30, 2015
- Signed
- Nov 3, 2015
- Return Version
- 2014v5.0
- Gross Receipts
- $5,328,779
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
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $1,953,952 | $1,915,342 | ▼ $38,610 |
| Land, Buildings, and Equipment, Net | $530,993 | $329,971 | ▼ $201,022 |
| Pledges and Grants Receivable | $341,742 | $302,460 | ▼ $39,282 |
| Cash and Non-Interest-Bearing Accounts | $128,510 | $113,919 | ▼ $14,591 |
| Prepaid Expenses and Deferred Charges | $19,295 | $6,938 | ▼ $12,357 |
| Total Assets | $3,009,786 | $2,668,630 | ▼ $341,156 |
| Other Assets Total | $35,294 | - | - |
| Liabilities | |||
| Other Liabilities | $750,175 | $527,011 | ▼ $223,164 |
| Accounts Payable and Accrued Expenses | $175,553 | $149,430 | ▼ $26,123 |
| Deferred Revenue | $1,760 | $1,054 | ▼ $706 |
| Total Liabilities | $927,488 | $677,495 | ▼ $249,993 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $2,073,359 | $1,978,231 | ▼ $95,128 |
| Temporarily Rstr Net Assets | $8,939 | $12,904 | ▲ $3,965 |
| Total Net Assets Fund Balance | $2,082,298 | $1,991,135 | ▼ $91,163 |
| Total Liabilities and Net Assets / Fund Balance | $3,009,786 | $2,668,630 | ▼ $341,156 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $329,971 | $614,870 | $944,841 |
| Leasehold Improvements | - | $347,888 | $347,888 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Matthew King | Executive Di | FT | $107,265 | $11,829 | $119,094 |
Board Members and Trustees
| Name | Title |
|---|---|
| Joshua Milberg | President |
| Andy Annacone | Board Member |
| Carrie Stewart | Board Member |
| Chris Martin | Board Member |
| Jacqueline Samuel | Board Member |
| Kathryn Hayes | Board Member |
| Luke Hansen | Board Member |
| Maria Kim | Board Member |
| Mark Haggarty | Board Member |
| Tom Nodine | Board Member |
| Edward Fetters | Secretary |
| AARON O'DONNELL | Vice Preside |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $5,230,308
- Program Service Revenue
- $48,452
- Investment Income
- $8,406
- Other Revenue
- $15,287
- All Other Contributions
- $5,179,353
- Change in Net Assets
- $-91,163
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $5,302,453
- Revenue Not Reported on Form 990
- $773,913
- Total Revenue per Audited Statements
- $6,076,366
- Total Revenue per Form 990
- $5,302,453
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $3,856,226 |
| Other Expenses | $1,537,390 |
| Total Fundraising Expense | $67,548 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $2,764,669 | $378,698 | $59,267 | $3,202,634 |
| Other Employee Benefits | $278,676 | $130,488 | - | $409,164 |
| Occupancy | $285,785 | $72,465 | - | $358,250 |
| Depreciation Depletion | $224,045 | $39,537 | - | $263,582 |
| Pension Plan Contributions | $157,089 | $16,897 | $4,870 | $178,856 |
| Fees for Services Other | $94,993 | $54,918 | - | $149,911 |
| All Other Expenses | $55,691 | $77,660 | - | $133,351 |
| Information Technology | $20,719 | $62,853 | $99 | $83,671 |
| Payroll Taxes | $41,048 | $23,118 | $1,406 | $65,572 |
| Other Expenses | $59,278 | $3,243 | - | $62,521 |
| Fees for Services Accounting | - | $52,000 | - | $52,000 |
| Office Expenses | $15,183 | $22,854 | $122 | $38,159 |
| Insurance | - | $27,773 | - | $27,773 |
| Advertising | - | $9,403 | $844 | $10,247 |
| Travel | $800 | $3,739 | $940 | $5,479 |
| Total Functional Expenses | $4,350,422 | $975,646 | $67,548 | $5,393,616 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $6,167,529 |
| Expenses per Audited Statements | $5,393,616 |
| Total Expenses per Form 990 | $5,393,616 |
| Expenses Not Reported on Form 990 | $773,913 |
Fundraising, Events, and Gaming
- Fundraising activities
- Yes
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Gross Income | $26,850 |
| Fundraising Direct Expenses | $26,326 |
| Professional Fundraising Fees | $0 |
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Dare to Imagine | $77,805 | $26,850 | $26,326 | $524 |
| Total Events | $77,805 | $26,850 | $26,326 | $524 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Accrued Payroll | $527,011 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- Yes
- 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
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 7A
“Trustees comprise the board and each are eligible to one vote”
Form 990, Page 6, Part VI, Line 11B
“The 990 is reviewed by the executive director and board of directors president”
Form 990, Page 6, Part VI, Line 12C
“The policy is monitored and enforced by the board of directors, the executive director and the chief operating officer.”
Form 990, Page 6, Part VI, Line 15A
“Compensation is determined by independent persons”
Form 990, Page 6, Part VI, Line 19
“UPON REQUEST”
Filing and Contact Details
Filer
- Filer Name
- Epic Academy
- EIN
- 20-8674711
- Phone
- 7735357930
- Address
- 8255 S HOUSTON AVE, CHICAGO, IL 60617
Signing Officer
- Name
- Joshua Milberg
- Title
- President
- Phone
- 7735357930
- Signed
- 2015-11-03
Organization Details
- Principal Officer
- Joshua Milberg
- Formed
- 2007
- Legal Domicile
- Il
- Voting Board Members
- 12
- Independent Board Members
- 12
- Employees
- 142
- Volunteers
- 12
Preparer
- Firm
- Kutchins Robbins & Diamond Ltd
- Address
- 1101 PERIMETER DR STE 760, SCHAUMBURG, IL 60173
- Preparer
- Allen I Kutchins
- Phone
- 8472401040
Supplemental Narrative
Additional Explanations
FORM 990 - ORGANIZATION'S 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 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.”
Form 990
“Form 990, part iv, line 13 - schedule e is only required to be filed by private schools. Epic academy is certified in the state of illinois as a charter school and is considered to be public. For those reasons form 990, part iv, line 13 is answered "yes" but schedule e is not attached.”
Form 990, Part XI, Line 9
“Allocation of expense to fundraising event 26,326 allocation of expense to fundraising event -26,326”
Financial Statement Notes
Schedule D, Page 4, Part XI, Line 2D
“Allocation of expense to fundraising event 26,326”
Schedule D, Page 4, Part XII, Line 2D
“Allocation of expense to fundraising event 26,326”
Raw XML AppendixShowing 400 of 472 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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|---|---|---|
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| IRS990/AcctCompileOrReviewBasisGrp/SeparateBasisFinclStmtInd | 0 | X |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | 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 |
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| IRS990/AdvertisingGrp/ManagementAndGeneralAmt | 0 | 9403 |
| IRS990/AdvertisingGrp/TotalAmt | 0 | 10247 |
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| IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt | 0 | 77660 |
| IRS990/AllOtherExpensesGrp/ProgramServicesAmt | 0 | 55691 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 133351 |
| IRS990/AnnualDisclosureCoveredPrsnInd | 0 | true |
| IRS990/AuditCommitteeInd | 0 | true |
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| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 7735357930 |
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| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | CHICAGO |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | IL |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 60617 |
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| IRS990/CYTotalExpensesAmt | 0 | 5393616 |
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| IRS990/CYTotalRevenueAmt | 0 | 5302453 |
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| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 263582 |
| IRS990/Desc | 0 | RIGOROUS COLLEGE CURRICULUM TO PREPARE STUDENTS FOR COLLEGE AND CAREER SUCCESS. STUDENT ENROLLMENT IS APPROXIMATELY 420 STUDENTS. |
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| IRS990/DonorAdvisedFundInd | 0 | false |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | PRESIDENT |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | BOARD MEMBER |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 12 | EXECUTIVE DI |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | false |
| IRS990/FormationYr | 0 | 2007 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
| IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | true |
| IRS990/FundraisingActivitiesInd | 0 | true |
| IRS990/FundraisingAmt | 0 | 50955 |
| IRS990/FundraisingDirectExpensesAmt | 0 | 26326 |
| IRS990/FundraisingGrossIncomeAmt | 0 | 26850 |
| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 12 |
| IRS990/GrantsToIndividualsInd | 0 | false |
| IRS990/GrantsToOrganizationsInd | 0 | false |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossReceiptsAmt | 0 | 5328779 |
| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | false |
| IRS990/IndependentAuditFinclStmtInd | 0 | true |
| IRS990/IndependentVotingMemberCnt | 0 | 12 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/FundraisingAmt | 0 | 99 |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 62853 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 20719 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 83671 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 27773 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 27773 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 8406 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 8406 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/IRPDocumentCnt | 0 | 17 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 962758 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 530993 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 329971 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 1292729 |
| IRS990/LegalDomicileStateCd | 0 | IL |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | false |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | 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 |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 2082298 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 1991135 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 524 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 72465 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 285785 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 358250 |
| IRS990/OfficeExpensesGrp/FundraisingAmt | 0 | 122 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 22854 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 15183 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 38159 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 35294 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 130488 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 278676 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 409164 |
| IRS990/OtherExpensesGrp/Desc | 0 | CPS ADMINISTRATION FEES |
| IRS990/OtherExpensesGrp/Desc | 1 | CO-CURRICULARS |
| IRS990/OtherExpensesGrp/Desc | 2 | STUDENT ASSIST/SERVICES |
| IRS990/OtherExpensesGrp/Desc | 3 | PROFESSIONAL DEVELOPMENT |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 3243 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 140889 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 110795 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 100762 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 59278 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 140889 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 110795 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 100762 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 62521 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 750175 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 527011 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | OTHER INCOME |
| IRS990/OtherRevenueMiscGrp/ExclusionAmt | 0 | 14763 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 14763 |
| IRS990/OtherRevenueTotalAmt | 0 | 14763 |
| IRS990/OtherSalariesAndWagesGrp/FundraisingAmt | 0 | 59267 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 378698 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 2764669 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 3202634 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PayrollTaxesGrp/FundraisingAmt | 0 | 1406 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 23118 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 41048 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 65572 |
| IRS990/PensionPlanContributionsGrp/FundraisingAmt | 0 | 4870 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 16897 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 157089 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 178856 |
| IRS990/PledgesAndGrantsReceivableGrp/BOYAmt | 0 | 341742 |
| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 302460 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 19295 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 6938 |
| IRS990/PrincipalOfficerNm | 0 | JOSHUA MILBERG |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | STUDENT FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 48452 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 48452 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYContributionsGrantsAmt | 0 | 5422428 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYInvestmentIncomeAmt | 0 | 6540 |
| IRS990/PYOtherExpensesAmt | 0 | 1368034 |
| IRS990/PYOtherRevenueAmt | 0 | 40932 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 75887 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 45822 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 4131931 |
| IRS990/PYTotalExpensesAmt | 0 | 5499965 |
| IRS990/PYTotalRevenueAmt | 0 | 5545787 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -91163 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 48452 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 1953952 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 1915342 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | true |
| IRS990ScheduleD/DonatedServicesAndUseFcltsAmt | 0 | 747587 |
| IRS990ScheduleD/DonatedServicesUseFcltsAmt | 0 | 747587 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 329971 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 614870 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 944841 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 773913 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 5393616 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 347888 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 347888 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 26326 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 527011 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | ACCRUED PAYROLL |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 26326 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 773913 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 5302453 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | ALLOCATION OF EXPENSE TO FUNDRAISING EVENT 26,326 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | ALLOCATION OF EXPENSE TO FUNDRAISING EVENT 26,326 |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 4, PART XI, LINE 2D |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE D, PAGE 4, PART XII, LINE 2D |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 329971 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 5393616 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 527011 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 5302453 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 6076366 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 6167529 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | true |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | false |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | false |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | false |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | true |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | true |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | true |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | true |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | true |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | true |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | true |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt | 0 | 50955 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt | 0 | 50955 |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 26326 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | DARE TO IMAGINE |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 77805 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 77805 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt | 0 | 26850 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt | 0 | 26850 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | 524 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt | 0 | 26326 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt | 0 | 26326 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | 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 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/SupplementalInformationDetail/ExplanationTxt | 1 | FORM 990, PART IV, LINE 13 - SCHEDULE E IS ONLY REQUIRED TO BE FILED BY PRIVATE SCHOOLS. EPIC ACADEMY IS CERTIFIED IN THE STATE OF ILLINOIS AS A CHARTER SCHOOL AND IS CONSIDERED TO BE PUBLIC. FOR THOSE REASONS FORM 990, PART IV, LINE 13 IS ANSWERED "YES" BUT SCHEDULE E IS NOT ATTACHED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | TRUSTEES COMPRISE THE BOARD AND EACH ARE ELIGIBLE TO ONE VOTE |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS PRESIDENT |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE POLICY IS MONITORED AND ENFORCED BY THE BOARD OF DIRECTORS, THE EXECUTIVE DIRECTOR AND THE CHIEF OPERATING OFFICER. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | COMPENSATION IS DETERMINED BY INDEPENDENT PERSONS |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | UPON REQUEST |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | ALLOCATION OF EXPENSE TO FUNDRAISING EVENT 26,326 ALLOCATION OF EXPENSE TO FUNDRAISING EVENT -26,326 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART XI, LINE 9 |
| IRS990/SchoolOperatingInd | 0 | true |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | IL |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt | 0 | 8939 |
| IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt | 0 | 12904 |
| IRS990/TempOrPermanentEndowmentsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 3009786 |
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.
- Assets
- $2,668,630
- Liabilities
- $677,495
- Net assets
- $1,991,135
- Revenue
- $5,302,453
- Expenses
- $5,393,616
- Net income
- -$91,163