Civic Intelligence

Golda Och Academy Inc.

990 • Fiscal year 2018 • EIN 22-1779887

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 06, 2018

Refreshing map…

1418 Pleasant Valley WayWest Orange, NJ 07052

(973) 602-3600

Siviq Scores

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

Liabilities / Assets

36th percentile

0.18x

Higher debt load relative to assets than 36% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

39th percentile

0.17x

Higher debt load relative to revenue than 39% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Source year 2018

Net Margin

23rd percentile

-1.7%

Higher net margin than 23% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

81st percentile

$267,949

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2018 filings • NTEE B • $10M-$25M nonprofits • Source year 2018

Asset Growth

16th percentile

-5.1%

Faster asset growth than 16% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

59th percentile

7.8%

Faster revenue growth than 59% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Down

$17,729,563

Down $951,141 (-5.1%) from 2017

Net Assets

Down

$14,624,120

Down $316,834 (-2.1%) from 2017

Liabilities

Down

$3,105,443

Down $634,307 (-17%) from 2017

Revenue

Up

$18,469,871

Up $1,333,438 (+7.8%) from 2017

Expenses

Up

$18,786,705

Up $684,616 (+3.8%) from 2017

Net Income

Up

-$316,834

Up $648,822 (+67%) from 2017

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $15,833,455Liabilities 2010: $4,389,923Net Assets 2010: $11,443,5322010Assets 2011: $17,977,783Liabilities 2011: $5,048,340Net Assets 2011: $12,929,4432011Assets 2012: $16,449,235Liabilities 2012: $4,802,072Net Assets 2012: $11,647,1632012Assets 2013: $19,718,063Liabilities 2013: $6,680,511Net Assets 2013: $13,037,5522013Assets 2014: $20,593,213Liabilities 2014: $5,381,973Net Assets 2014: $15,211,2402014Assets 2015: $20,773,056Liabilities 2015: $4,392,546Net Assets 2015: $16,380,5102015Assets 2016: $20,187,177Liabilities 2016: $4,280,659Net Assets 2016: $15,906,5182016Assets 2017: $18,680,704Liabilities 2017: $3,739,750Net Assets 2017: $14,940,9542017Assets 2018: $17,729,563Liabilities 2018: $3,105,443Net Assets 2018: $14,624,1202018Assets 2019: $16,923,026Liabilities 2019: $3,353,105Net Assets 2019: $13,569,9212019Assets 2020: $16,763,466Liabilities 2020: $4,829,891Net Assets 2020: $11,933,5752020Assets 2021: $16,452,605Liabilities 2021: $4,044,007Net Assets 2021: $12,408,5982021Assets 2022: $16,688,223Liabilities 2022: $4,528,004Net Assets 2022: $12,160,2192022Assets 2023: $14,228,083Liabilities 2023: $4,579,805Net Assets 2023: $9,648,2782023

Highlighted filing

2018

Assets$17,729,563
Liabilities$3,105,443
Net Assets$14,624,120

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $13,888,1562010Revenue 2011: $15,624,460Expenses 2011: $14,139,567Net Income 2011: $1,484,8932011Expenses 2012: $14,611,9812012Expenses 2013: $15,476,1922013Revenue 2014: $18,697,395Expenses 2014: $16,524,789Net Income 2014: $2,172,6062014Revenue 2015: $18,784,716Expenses 2015: $17,615,262Net Income 2015: $1,169,4542015Revenue 2016: $17,346,605Expenses 2016: $17,820,474Net Income 2016: -$473,8692016Revenue 2017: $17,136,433Expenses 2017: $18,102,089Net Income 2017: -$965,6562017Revenue 2018: $18,469,871Expenses 2018: $18,786,705Net Income 2018: -$316,8342018Revenue 2019: $17,539,933Expenses 2019: $18,582,364Net Income 2019: -$1,042,4312019Revenue 2020: $17,555,364Expenses 2020: $19,191,710Net Income 2020: -$1,636,3462020Revenue 2021: $19,889,464Expenses 2021: $19,414,441Net Income 2021: $475,0232021Revenue 2022: $21,390,950Expenses 2022: $21,639,329Net Income 2022: -$248,3792022Revenue 2023: $22,124,936Expenses 2023: $24,636,877Net Income 2023: -$2,511,9412023

Highlighted filing

2018

Revenue$18,469,871
Expenses$18,786,705
Net Income-$316,834
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 6, 2018
Return Version
2017v2.3
Gross Receipts
$18,569,532
Mission and Program Overview

Mission

The school operates a private school with two campuses located in new jersey serving students in grades pre-k through 12th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,109,958$14,265,920▼ $844,038
Savings and Temporary Cash Investments$1,199,303$1,223,430▲ $24,127
Pledges and Grants Receivable$515,494$337,864▼ $177,630
Accounts Receivable$112,935$157,361▲ $44,426
Prepaid Expenses and Deferred Charges$147,433$73,982▼ $73,451
Cash and Non-Interest-Bearing Accounts$240$200▼ $40
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$18,680,704$17,729,563▼ $951,141
Other Assets Total$1,595,341$1,670,806▲ $75,465
Liabilities
Deferred Revenue$1,778,723$1,605,749▼ $172,974
Accounts Payable and Accrued Expenses$1,848,855$1,499,694▼ $349,161
Mortgage Notes Payable Secured by Investment Property$112,172$0▼ $112,172
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,739,750$3,105,443▼ $634,307
Net Assets / Fund Balance
Unrestricted Net Assets$14,237,452$13,920,618▼ $316,834
Temporarily Rstr Net Assets$703,502$703,502→ $0
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$14,940,954$14,624,120▼ $316,834
Total Liabilities and Net Assets / Fund Balance$18,680,704$17,729,563▼ $951,141

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,438,910$11,066,023$21,504,933
Other Land Buildings$2,151,061$385,684$2,536,745
Land$1,661,735-$1,661,735
Equipment$14,214$204,250$218,464
Other Assets Org$1,670,806--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$45,228,570$148,764▲ $3,304,296-$45,195,565
2016$42,040,878$104,494▲ $5,659,193-$45,228,570
2015$45,096,358$0▼ $476,867-$42,040,878
2014$46,497,377$1,049,272▲ $948,403-$45,096,358
2013$41,931,551$2,412,345▲ $5,628,849-$46,497,377
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Adam ShapiroHead of SchoolFT$215,000$52,949$267,949
Julia MalagaCFOFT$165,506$25,116$190,622
Carrie SiegelPrincipalFT$137,500$46,853$184,353
Stephanie Bash-soudryDevelopment DirectorFT$133,719$7,316$141,035
Christine StodolskiPrincipalFT$137,936$2,416$140,352
Gail ShapiroDirector of AdmissionsFT$120,709$6,593$127,302
Karen SpectorAsst PrincipalFT$111,058$6,029$117,087
Glenn SlavinDirector of MarketingFT$109,782$5,972$115,754
Nina BilmesDepartment ChairFT$106,503$6,382$112,885
Flora YavelbergDean of FacultyFT$103,557$6,180$109,737
Janet HermanDepartment Chair/ADFT$100,834$6,000$106,834
Revenue and Support

Revenue Composition

Contributions and Grants
$5,251,122
Program Service Revenue
$12,915,872
Investment Income
$4,342
Other Revenue
$298,535
All Other Contributions
$1,660,556
Change in Net Assets
$-316,834

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,776,926
Revenue Not Reported on Financial Statements
$3,692,945
Revenue Not Reported on Form 990
$22,670
Other Revenue Adjustments
$3,692,945
Total Revenue per Audited Statements
$14,799,596
Total Revenue per Form 990
$18,469,871
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$10,527,810
Other Expenses$4,488,959
Grants and Similar Amounts Paid$3,769,936
Total Fundraising Expense$383,430
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,925,097$1,064,636$255,189$8,244,922
Grants to Domestic Individuals$3,769,936--$3,769,936
Depreciation Depletion$837,382$93,042-$930,424
Occupancy$763,799$67,429-$831,228
Payroll Taxes$583,234$74,133$16,572$673,939
Current Officers, Directors, Trustees, and Key Employees$543,190$80,629$19,104$642,923
Other Employee Benefits$545,607$69,351$15,502$630,460
Information Technology$188,589$188,590$41,909$419,088
Pension Plan Contributions$290,403$36,912$8,251$335,566
Office Expenses$166,178$99,428$20,241$285,847
Travel$254,051--$254,051
Insurance$152,409$16,934-$169,343
All Other Expenses$97,865$13,435$2,180$113,480
Other Expenses$92,438--$92,438
Fees for Services Accounting-$59,350-$59,350
Advertising$24,649$15,686$4,482$44,817
Fees for Services Other-$13,186-$13,186
Fees for Services Legal-$11,863-$11,863
Interest$1,906--$1,906
Total Functional Expenses$16,498,671$1,904,604$383,430$18,786,705

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$18,786,705
Total Expenses per Audited Statements$15,116,430
Expenses per Audited Statements$15,093,760
Expenses Not Reported on Financial Statements$3,692,945
Other Expense Adjustments$3,692,945
Expenses Not Reported on Form 990$22,670
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$76,991
Fundraising Gross Income$76,991
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala/ad Journal$270,060$76,991$15,179$61,812
Total Events$270,060$76,991$76,991-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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

Governance Explanations

Form 990, Part VI Section B, 12C

The Board of Trustees distributes a conflict of interest policy statement to each board member at the first meeting of each fiscal year. This policy requires certain disclosures of conflicts and a signature of acceptance by the trustee. The signed policy statements are reviewed by the CFO and retained by the school's CFO.

Form 990, Part VI Section B, 15B

The Board of Trustees has a committee entitled "Head of School Support" which is responsible for evaluating and recommending the contract of the Head of School, who functions as the CEO of the organization. The contract salary is compared to market data from various relevant sources, such as the annual salary survey conducted by the National Association of Independent Schools. The Head of School salary falls within the range of salaries offered by other independent schools and is slightly above the median. When the Head of School determines salary for a senior administrator, this same salary survey data is used as a guideline.

Form 990. Part VI Section C, 19

Golda Och Academy makes available its latest 990 to anyone who requests it. Typically, requests are directed to www.guidestar.org, on which our entire financial disclosure can be found. Our audited financial statements are also available upon request.

Form 990, Part VI, Section A, 11

The audit committee will review and analyze the 990. The audit committee has authority to review and approve the 990 per a Board resolution passed during fiscal year 2010.

Filing and Contact Details

Filer

Filer Name
Golda Och Academy
EIN
22-1779887
In Care Of
% JULIA MALAGA
Phone
9736023600
Address
1418 PLEASANT VALLEY WAY, WEST ORANGE, NJ 07052

Signing Officer

Name
Julia Malaga
Title
CFO
Phone
9736023600
Signed
2018-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Adam Shapiro
Formed
1973
Legal Domicile
Nj
Voting Board Members
22
Independent Board Members
22
Employees
195
Volunteers
22

Preparer

Firm
Withumsmithbrown Pc
Address
TWO LOGAN SQ STE 2001 18THARCH ST, PHILADELPHIA, PA 19103-2726
Preparer
Eric M Strauss
Phone
2155462140
Supplemental Narrative

Additional Explanations

FOrm 990, PART IX, COLUMN D

Fundraising expenses for the organization include all salaries for the Development Department, which also handles institutional advancement. This includes alumni relations, donor stewardship, special events and outreach to the community. These activities indirectly affect fundraising but are not related to direct solicitation.

Financial Statement Notes

SCHEDULE D, PART X, #2

The school is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Accordingly, the consolidated financial statements do not reflect a provision for federal income taxes. The school follows the pronouncement related to income taxes and there were no uncertain tax positions at the date of adoption or at june 30, 2018 or 2017. In addition, the school has no income tax related penalties or interest for the periods reported in these consolidated financial statements.

SCHEDULE D, PART XI & PART XII, LINES 4B

Tuition assistance of $3,769,936 merit scholarships, professional discounts, bridge the gap grant and early registration discounts are netted against tuition revenue on the financial statement and shown as grant expense on the form 990. Special event expenses of $76,991 are netted against fundraising revenue on the 990 and included on the statement of functional expenses on the financial statement.

Schedule D, Part V, Line 4

Golda och foundation holds endowment funds to be used by golda och academy for scholarships, capital projects, and support operational needs.

Schedule D, Part XI & Part XII, Line 2D

Expenses and revenues of $22,670 were not presented on the form 990 as these were reported on the form 990t for the entity.

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IRS990/Form990PartVIISectionAGrp/PersonNm30CHRISTINE STODOLSKI
IRS990/Form990PartVIISectionAGrp/PersonNm31NINA BILMES
IRS990/Form990PartVIISectionAGrp/PersonNm32JANET HERMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt7VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt9VICE CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt23HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt24PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt25DEVELOPMENT DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR OF ADMISSIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR OF MARKETING
IRS990/Form990PartVIISectionAGrp/TitleTxt28ASST PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt29DEAN OF FACULTY
IRS990/Form990PartVIISectionAGrp/TitleTxt30PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt31Department Chair
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$14.2$4.58$9.65$22.1$24.6$2.51
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.7$4.53$12.2$21.4$21.6$0.25
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.5$4.04$12.4$19.9$19.4$0.48
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.8$4.83$11.9$17.6$19.2$1.64
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.9$3.35$13.6$17.5$18.6$1.04
2018Detailed filing. Detailed filing data is available for this year.$17.7$3.11$14.6$18.5$18.8$0.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.7$3.74$14.9$17.1$18.1$0.97
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.2$4.28$15.9$17.3$17.8$0.47
2015Detailed filing. Detailed filing data is available for this year.$20.8$4.39$16.4$18.8$17.6$1.17
2014Detailed filing. Detailed filing data is available for this year.$20.6$5.38$15.2$18.7$16.5$2.17
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.7$6.68$13.0$15.5
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.4$4.80$11.6$14.6
2011Summary only. Only limited summary data is available for this year.$18.0$5.05$12.9$15.6$14.1$1.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.8$4.39$11.4$13.9