Civic Intelligence

Mount Carmel Academy

990 • Fiscal year 2018 • EIN 26-2759503

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 09, 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

67th percentile

0.24x

Higher debt load relative to assets than 67% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

49th percentile

0.09x

Higher debt load relative to revenue than 49% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

15th percentile

-17%

Higher net margin than 15% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

4th percentile

-31%

Faster asset growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

8th percentile

-35%

Faster revenue growth than 8% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$719,068

Down $326,221 (-31%) from 2017

Net Assets

Down

$545,684

Down $333,591 (-38%) from 2017

Liabilities

Up

$173,384

Up $7,370 (+4.4%) from 2017

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin15th percentile

Revenue

Down

$1,943,641

Down $1,044,877 (-35%) from 2017

Expenses

Up

$2,277,232

Up $130,191 (+6.1%) from 2017

Net Income

Down

-$333,591

Down $1,175,068 (-140%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2018

Assets$719,068
Liabilities$173,384
Net Assets$545,684
Open 2018 Filing

Operations Trend

Revenue Growth8th 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

2018

Revenue$1,943,641
Expenses$2,277,232
Net Income-$333,591
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 9, 2018
Return Version
2017v2.3
Gross Receipts
$1,943,641
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$894,435$646,621▼ $247,814
Land, Buildings, and Equipment, Net$150,854$72,447▼ $78,407
Total Assets$1,045,289$719,068▼ $326,221
Liabilities
Unsecured Notes Loans Payable$117,000$117,000→ $0
Accounts Payable and Accrued Expenses$49,014$56,384▲ $7,370
Total Liabilities$166,014$173,384▲ $7,370
Net Assets / Fund Balance
Unrestricted Net Assets$879,275$545,684▼ $333,591
Total Net Assets Fund Balance$879,275$545,684▼ $333,591
Total Liabilities and Net Assets / Fund Balance$1,045,289$719,068▼ $326,221

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$341,117-$341,117
Leasehold Improvements$-455,521$689,366$233,845
Equipment$103,808-$103,808
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Paul SobieskiPresident
-Board Member
George GiacchinoBoard Member
Maureen GiacchinoBusiness Man
Mary M SobieskiPrincipal
Revenue and Support

Revenue Composition

Contributions and Grants
$89,629
Program Service Revenue
$1,851,831
Investment Income
$0
Other Revenue
$2,181
Change in Net Assets
$-333,591

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,943,641
Total Revenue per Audited Statements
$1,943,641
Total Revenue per Form 990
$1,943,641
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,554,813
Other Expenses$722,419
Total Fundraising Expense$40,345
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,411,610--$1,411,610
Occupancy$200,279--$200,279
Other Employee Benefits$143,203--$143,203
Depreciation Depletion$86,751--$86,751
Fees for Services Other--$40,345$40,345
Other Expenses$66,196$35,724-$35,724
Insurance$27,866--$27,866
Office Expenses$25,898--$25,898
All Other Expenses$19,028--$19,028
Interest$10,530--$10,530
Advertising$1,545--$1,545
Total Functional Expenses$2,201,163$35,724$40,345$2,277,232

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,277,232
Total Expenses per Audited Statements$2,277,232
Total Expenses per Form 990$2,277,232
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 MgrLoanNo$117,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
2018-11-09
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 pall taks test graduate 100% of students.”

Raw XML Appendix336 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED BY THE BUSINESS MANAGER AND THE MEMBERS OF THE BOARD OF DIRECTORS.
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IRS990/TotalProgramServiceExpensesAmt02201163
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ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$719,068
Liabilities
$173,384
Net assets
$545,684
Revenue
$1,943,641
Expenses
$2,277,232
Net income
-$333,591
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