Civic Intelligence

Community Preparatory School

990 • Fiscal year 2020 • EIN 22-2485332

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 16, 2020

135 Prairie AvenueProvidence, RI 02905

(401) 521-9696

Siviq Scores

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

Liabilities / Assets

21st percentile

0.04x

Higher debt load relative to assets than 21% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.42x

Higher debt load relative to revenue than 55% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

79th percentile

22%

Higher net margin than 79% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

17th percentile

$126,343

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

50th percentile

6.8%

Faster asset growth than 50% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

42nd percentile

-0.1%

Faster revenue growth than 42% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Assets

Up

$36,950,163

Up $2,353,479 (+6.8%) from 2019

Net Assets

Up

$35,505,782

Up $1,276,536 (+3.7%) from 2019

Liabilities

Up

$1,444,381

Up $1,076,943 (+293%) from 2019

Revenue

Down

$3,459,335

Down $2,845 (-0.1%) from 2019

Expenses

Down

$2,682,139

Down $111,280 (-4.0%) from 2019

Net Income

Up

$777,196

Up $108,435 (+16%) from 2019

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2011: $14,880,859Liabilities 2011: $249,633Net Assets 2011: $14,631,2262011Assets 2012: $14,806,596Liabilities 2012: $251,684Net Assets 2012: $14,554,9122012Assets 2013: $16,324,006Liabilities 2013: $255,102Net Assets 2013: $16,068,9042013Assets 2014: $23,545,873Liabilities 2014: $266,422Net Assets 2014: $23,279,4512014Assets 2015: $24,914,428Liabilities 2015: $226,926Net Assets 2015: $24,687,5022015Assets 2016: $26,114,402Liabilities 2016: $246,387Net Assets 2016: $25,868,0152016Assets 2017: $29,864,260Liabilities 2017: $421,405Net Assets 2017: $29,442,8552017Assets 2018: $32,431,625Liabilities 2018: $301,884Net Assets 2018: $32,129,7412018Assets 2019: $34,596,684Liabilities 2019: $367,438Net Assets 2019: $34,229,2462019Assets 2020: $36,950,163Liabilities 2020: $1,444,381Net Assets 2020: $35,505,7822020Assets 2021: $45,719,822Liabilities 2021: $888,554Net Assets 2021: $44,831,2682021Assets 2022: $48,039,197Liabilities 2022: $4,481,127Net Assets 2022: $43,558,0702022Assets 2023: $55,507,662Liabilities 2023: $4,209,167Net Assets 2023: $51,298,4952023Assets 2025: $66,045,889Liabilities 2025: $3,421,610Net Assets 2025: $62,624,2792025

Highlighted filing

2020

Assets$36,950,163
Liabilities$1,444,381
Net Assets$35,505,782

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $2,460,621Expenses 2011: $2,342,503Net Income 2011: $118,1182011Revenue 2012: $2,188,917Expenses 2012: $2,362,504Net Income 2012: -$173,5872012Expenses 2013: $2,364,5452013Revenue 2014: $8,850,314Expenses 2014: $2,427,814Net Income 2014: $6,422,5002014Revenue 2015: $3,620,828Expenses 2015: $2,472,359Net Income 2015: $1,148,4692015Revenue 2016: $2,851,684Expenses 2016: $2,429,237Net Income 2016: $422,4472016Revenue 2017: $2,875,648Expenses 2017: $2,630,532Net Income 2017: $245,1162017Revenue 2018: $3,085,486Expenses 2018: $2,684,406Net Income 2018: $401,0802018Revenue 2019: $3,462,180Expenses 2019: $2,793,419Net Income 2019: $668,7612019Revenue 2020: $3,459,335Expenses 2020: $2,682,139Net Income 2020: $777,1962020Revenue 2021: $3,505,083Expenses 2021: $2,848,314Net Income 2021: $656,7692021Revenue 2022: $5,811,183Expenses 2022: $3,215,796Net Income 2022: $2,595,3872022Revenue 2023: $11,280,819Expenses 2023: $3,512,450Net Income 2023: $7,768,3692023Revenue 2025: $8,612,168Expenses 2025: $4,344,143Net Income 2025: $4,268,0252025

Highlighted filing

2020

Revenue$3,459,335
Expenses$2,682,139
Net Income$777,196
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$3,469,903
Mission and Program Overview

Mission

Community preparatory school is an independent private school, serving grades 4 to 8, striving to empower our diverse student body to reach full academic and leadership potential while building a beloved community.

PRIVATE SCHOOL

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$28,631,109$29,845,657▲ $1,214,548
Land, Buildings, and Equipment, Net$5,372,464$6,296,605▲ $924,141
Cash and Non-Interest-Bearing Accounts$537,462$793,509▲ $256,047
Accounts Receivable$15,772$6,927▼ $8,845
Pledges and Grants Receivable$4,568$4,015▼ $553
Prepaid Expenses and Deferred Charges$35,309$3,450▼ $31,859
Total Assets$34,596,684$36,950,163▲ $2,353,479
Other Assets Total$0--
Liabilities
Mortgage Notes Payable Secured by Investment Property-$1,140,135-
Accounts Payable and Accrued Expenses$202,623$226,642▲ $24,019
Deferred Revenue$155,254$74,972▼ $80,282
Other Liabilities$9,561$2,632▼ $6,929
Total Liabilities$367,438$1,444,381▲ $1,076,943
Net Assets / Fund Balance
Net Assets With Donor Restrictions$17,194,114$18,404,758▲ $1,210,644
Net Assets Without Donor Restrictions$17,035,132$17,101,024▲ $65,892
Total Net Assets Fund Balance$34,229,246$35,505,782▲ $1,276,536
Total Liabilities and Net Assets / Fund Balance$34,596,684$36,950,163▲ $2,353,479

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$5,288,037$1,203,331$6,491,368
Buildings$116,091$771,205$887,296
Land$839,478-$839,478
Equipment$8,939$288,532$297,471
Other Land Buildings$44,060$119,830$163,890

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$17,194,214$817,877▲ $525,084$132,317$18,404,858
2018$15,474,513$987,919▲ $1,430,932$699,150$17,194,214
2017$16,457,289$1,311,277▲ $1,642,935$3,936,988$15,474,513
2016$13,136,705$1,456,581▲ $1,864,003-$16,457,289
2015$12,357,480$583,854▲ $298,754$103,383$13,136,705
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Daniel CorleyHead of SchoolFT$126,343$126,343
Anita BenchDirector of EducationFT$100,037$100,037
Revenue and Support

Revenue Composition

Contributions and Grants
$1,904,236
Program Service Revenue
$575,847
Investment Income
$659,283
Other Revenue
$319,969
All Other Contributions
$1,899,236
Change in Net Assets
$777,196

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,459,335
Revenue Not Reported on Financial Statements
$-25,743
Revenue Not Reported on Form 990
$657,401
Other Revenue Adjustments
$-25,743
Total Revenue per Audited Statements
$4,116,736
Total Revenue per Form 990
$3,433,592
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,901,549
Other Expenses$780,590
Total Fundraising Expense$421,278
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,040,894$177,420$280,915$1,499,229
Other Employee Benefits$199,580$33,732$47,786$281,098
Occupancy$225,278$0$0$225,278
Depreciation Depletion$137,277$25,740$38,609$201,626
Payroll Taxes$84,221$14,323$22,678$121,222
Fees for Services Accounting$18,053$44,817$0$62,870
Insurance$23,357$36,052$0$59,409
Office Expenses$28,344$14,589$9,805$52,738
All Other Expenses$45,704$1,868$0$47,572
Advertising$0$0$7,269$7,269
Other Expenses$6,815$0$0$6,815
Interest$0$0$2,018$2,018
Conferences and Meetings$0$1,375$0$1,375
Fees for Service Investment Mgmnt Fees$0$0$200$200
Total Functional Expenses$1,910,945$349,916$421,278$2,682,139

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,707,882
Expenses per Audited Statements$2,682,139
Total Expenses per Form 990$2,682,139
Expenses Not Reported on Form 990$25,743
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$134,748
Fundraising Direct Expenses$10,568
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Events$102,891$102,891-$102,891
Golf Tournament$30,230$30,230-$30,230
Total Events$133,121$133,121-$133,121
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payable$2,632
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 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Community Preparatory School
EIN
22-2485332
Phone
4015219696
Address
135 PRAIRIE AVENUE, Providence, RI 02905

Signing Officer

Name
Daniel Corley
Title
Head of School
Phone
4015219696
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Corley
Formed
1983
Legal Domicile
Ri
Voting Board Members
43
Independent Board Members
43
Employees
37
Volunteers
41

Preparer

Firm
Jason E Smith CPA Ltd
Address
2100 Broad St, Cranston, RI 02905
Preparer
Jason E Smith CPA
Phone
4014611900
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The chairperson of the finance committee and the head of school review the form 990 before it is filed with the internal revenue service.

Pt VI, Line 12C

Board members review and sign conflict of interest policy annually.

Pt VI, Line 15A

Board reviews salary of head of school and key employees and determines compensation package. The review is also based on performance of school.

Pt VI, Line 19

The organization presents its governining documents, conflict of interest policy, and financial statements to the board of trustees and the finance committee. Once they are approved, the documents are available for review by anyone who wants to see them.

Pt XII, Line 2C

There have not been any changes to process from prior years.

Pt VI, Line 15B

Board reviews salary of head of school and key employees and determines compensation package. The review is also based on performance of school.

Financial Statement Notes

Other

OTHER ADJUSTMENTS:

Pt XII, Line 2D

Satisfaction of grant restrictions 132,317

Pt XI, Line 4B

OTHER ADJUSTMENTS:

Pt III, Line 4

RENT EXPENSE -25,743

Pt XII, Line 2D

OTHER ADJUSTMENTS:

Other

RENT EXPENSE 25,743

Pt XII, Line 2D

OTHER ADJUSTMENTS:

Pt XI, Line 2D

Decrease in perpetual fund

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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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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.0$3.42$62.6$8.61$4.34$4.27
2023Summary only. Only limited summary data is available for this year.$55.5$4.21$51.3$11.3$3.51$7.77
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.0$4.48$43.6$5.81$3.22$2.60
2021Summary only. Only limited summary data is available for this year.$45.7$0.89$44.8$3.51$2.85$0.66
2020Detailed filing. Detailed filing data is available for this year.$37.0$1.44$35.5$3.46$2.68$0.78
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.6$0.37$34.2$3.46$2.79$0.67
2018Summary only. Only limited summary data is available for this year.$32.4$0.30$32.1$3.09$2.68$0.40
2017Summary only. Only limited summary data is available for this year.$29.9$0.42$29.4$2.88$2.63$0.25
2016Detailed filing. Detailed filing data is available for this year.$26.1$0.25$25.9$2.85$2.43$0.42
2015Detailed filing. Detailed filing data is available for this year.$24.9$0.23$24.7$3.62$2.47$1.15
2014Detailed filing. Detailed filing data is available for this year.$23.5$0.27$23.3$8.85$2.43$6.42
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.3$0.26$16.1$2.36
2012Summary only. Only limited summary data is available for this year.$14.8$0.25$14.6$2.19$2.36$0.17
2011Summary only. Only limited summary data is available for this year.$14.9$0.25$14.6$2.46$2.34$0.12