Civic Intelligence

Mount Carmel Academy

990 • Fiscal year 2017 • EIN 26-2759503

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 24, 2018

Organization ProfileWWW.MOUNTCARMELACAADEMY.COM

View Organization Page

7155 AshburnHouston, TX 77061

(713) 643-2008

Siviq Scores

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

Liabilities / Assets

59th percentile

0.16x

Higher debt load relative to assets than 59% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

39th percentile

0.06x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

83rd percentile

28%

Higher net margin than 83% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

98th percentile

196%

Faster asset growth than 98% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

78th percentile

28%

Faster revenue growth than 78% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$1,045,289

Up $692,599 (+196%) from 2016

Net Assets

Up

$879,275

Up $841,477 (+2226%) from 2016

Liabilities

Down

$166,014

Down $148,878 (-47%) from 2016

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin83rd percentile

Revenue

Up

$2,988,518

Up $649,022 (+28%) from 2016

Expenses

Down

$2,147,041

Down $160,810 (-7.0%) from 2016

Net Income

Up

$841,477

Up $809,832 (+2559%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2014: $444,356Liabilities 2014: $558,315Net Assets 2014: -$113,9592014Assets 2016: $352,690Liabilities 2016: $314,892Net Assets 2016: $37,7982016Assets 2017: $1,045,289Liabilities 2017: $166,014Net Assets 2017: $879,2752017Assets 2018: $719,068Liabilities 2018: $173,384Net Assets 2018: $545,6842018Assets 2019: $460,228Liabilities 2019: $25,522Net Assets 2019: $434,7062019Assets 2020: $474,315Liabilities 2020: $29,546Net Assets 2020: $444,7692020Assets 2021: $1,248,698Liabilities 2021: $635,260Net Assets 2021: $613,4382021Assets 2022: $783,522Liabilities 2022: $114,657Net Assets 2022: $668,8652022Assets 2023: $800,085Liabilities 2023: $616,862Net Assets 2023: $183,2232023Assets 2024: $658,614Liabilities 2024: $41,575Net Assets 2024: $617,0392024

Highlighted filing

2017

Assets$1,045,289
Liabilities$166,014
Net Assets$879,275
Open 2017 Filing

Operations Trend

Revenue Growth78th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $2,339,630Expenses 2014: $2,210,542Net Income 2014: $129,0882014Revenue 2016: $2,339,496Expenses 2016: $2,307,851Net Income 2016: $31,6452016Revenue 2017: $2,988,518Expenses 2017: $2,147,041Net Income 2017: $841,4772017Revenue 2018: $1,943,641Expenses 2018: $2,277,232Net Income 2018: -$333,5912018Revenue 2019: $2,439,235Expenses 2019: $2,550,213Net Income 2019: -$110,9782019Revenue 2020: $2,269,003Expenses 2020: $2,258,940Net Income 2020: $10,0632020Revenue 2021: $2,164,623Expenses 2021: $1,995,954Net Income 2021: $168,6692021Revenue 2022: $1,585,510Expenses 2022: $2,129,676Net Income 2022: -$544,1662022Revenue 2023: $1,743,756Expenses 2023: $2,229,398Net Income 2023: -$485,6422023Revenue 2024: $2,553,816Expenses 2024: $2,120,000Net Income 2024: $433,8162024

Highlighted filing

2017

Revenue$2,988,518
Expenses$2,147,041
Net Income$841,477
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 24, 2018
Return Version
2016v3.1
Gross Receipts
$2,988,518
Mission and Program Overview

Mission

Act as a contract charter high school to provide a quality college prep highschool education fo students from southeast houston.

Act as a contract-charter high school, to provide a quality college-prep high school education for students from southeast houston metro area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$132,008$894,435▲ $762,427
Land, Buildings, and Equipment, Net$213,239$150,854▼ $62,385
Accounts Receivable$7,443--
Total Assets$352,690$1,045,289▲ $692,599
Liabilities
Unsecured Notes Loans Payable$256,000$117,001▼ $138,999
Accounts Payable and Accrued Expenses$58,892$49,013▼ $9,879
Total Liabilities$314,892$166,014▼ $148,878
Net Assets / Fund Balance
Unrestricted Net Assets$37,798$879,275▲ $841,477
Total Net Assets Fund Balance$37,798$879,275▲ $841,477
Total Liabilities and Net Assets / Fund Balance$352,690$1,045,289▲ $692,599

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$130,671$289,095$419,766
Leasehold Improvements$190$229,705$229,895
Equipment$19,993$83,815$103,808
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Dawn BaumennPresident
-Board Member
George GiacchinoBoard Member
Maureen GiacchinoBusiness Man
Lisa MoscarelliPrincipal
Revenue and Support

Revenue Composition

Contributions and Grants
$119,680
Program Service Revenue
$2,867,867
Investment Income
$0
Other Revenue
$971
Change in Net Assets
$841,477

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,988,518
Total Revenue per Audited Statements
$2,988,518
Total Revenue per Form 990
$2,988,518
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,549,451
Other Expenses$597,590
Total Fundraising Expense$36,078
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,393,341--$1,393,341
Occupancy$192,049--$192,049
Other Employee Benefits$156,110--$156,110
Depreciation Depletion$86,751--$86,751
Office Expenses$14,658$25,313-$39,971
Fees for Services Other--$36,078$36,078
Insurance$35,000--$35,000
Interest$23,488--$23,488
Travel$16,379--$16,379
Other Expenses$6,744--$6,744
All Other Expenses$1,046--$1,046
Advertising$100--$100
Total Functional Expenses$2,085,650$25,313$36,078$2,147,041

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,147,041
Total Expenses per Audited Statements$2,147,041
Total Expenses per Form 990$2,147,041
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
George GiacchinoBusiness ManageLoan to SchoolNo$117,000
Maureen GiacchinoPrincipalLoan to SchoolNo-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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 11B

“The 990 is reviewed by the business manager and the members of the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available to public upon request.”

Filing and Contact Details

Filer

Filer Name
Mount Carmel Academy
EIN
26-2759503
Phone
7136432008
Address
7155 ASHBURN, HOUSTON, TX 77061

Signing Officer

Name
George Giacchino
Title
Business Manager
Phone
7136432008
Signed
2018-01-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Giacchino
Formed
2008
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
3
Employees
41

Preparer

Firm
Earl E Allen Jr CPA
Address
5322 W BELLFORT ST STE 104, HOUSTON, TX 77035-3034
Preparer
Earl E Allen Jr
Phone
7137215365
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Provide high school education for 340 students. Successfully pass taks test graduate 100% of students.”

Raw XML Appendix351 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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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0SCHOOL PRINCIPAL AND BUSINESS MANAGER HAVE MADE LOANS TO THE SCHOOL AND SERVE ON THE BOARD.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDE HIGH SCHOOL EDUCATION FOR 340 STUDENTS. SUCCESSFULLY PASS TAKS TEST GRADUATE 100% OF STUDENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED BY THE BUSINESS MANAGER AND THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE MADE AVAILABLE TO PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalContributionsAmt0119680
IRS990/TotalEmployeeCnt041
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt025313
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02085650
IRS990/TotalFunctionalExpensesGrp/TotalAmt02147041
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0314892
IRS990/TotalLiabilitiesEOYAmt0166014
IRS990/TotalLiabilitiesGrp/BOYAmt0314892
IRS990/TotalLiabilitiesGrp/EOYAmt0166014
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt037798
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0879275
IRS990/TotalProgramServiceExpensesAmt02085650
IRS990/TotalProgramServiceRevenueAmt02867867
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02868838
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02988518
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0352690
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01045289
IRS990/TravelGrp/ProgramServicesAmt016379
IRS990/TravelGrp/TotalAmt016379
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/USAddress/ZIPCd077061
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IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.MOUNTCARMELACAADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GEORGE GIACCHINO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BUSINESS MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum07136432008
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-01-24
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EARL E ALLEN JR CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05322 W BELLFORT ST STE 104
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOUSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0770353034
ReturnHeader/PreparerPersonGrp/PhoneNum07137215365
ReturnHeader/PreparerPersonGrp/PreparationDt02018-01-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EARL E ALLEN JR
ReturnHeader/ReturnTs02018-01-31T14:36:13-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,045,289
Liabilities
$166,014
Net assets
$879,275
Revenue
$2,988,518
Expenses
$2,147,041
Net income
$841,477
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.66$0.04$0.62$2.55$2.12$0.43
2023Detailed filing. Detailed filing data is available for this year.$0.80$0.62$0.18$1.74$2.23$0.49
2022Detailed filing. Detailed filing data is available for this year.$0.78$0.11$0.67$1.59$2.13$0.54
2021Detailed filing. Detailed filing data is available for this year.$1.25$0.64$0.61$2.16$2.00$0.17
2020Detailed filing. Detailed filing data is available for this year.$0.47$0.03$0.44$2.27$2.26$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.46$0.03$0.43$2.44$2.55$0.11
2018Detailed filing. Detailed filing data is available for this year.$0.72$0.17$0.55$1.94$2.28$0.33
2017Detailed filing. Detailed filing data is available for this year.$1.05$0.17$0.88$2.99$2.15$0.84
2016Detailed filing. Detailed filing data is available for this year.$0.35$0.31$0.04$2.34$2.31$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.44$0.56$0.11$2.34$2.21$0.13