Civic Intelligence

Success Preparatory Academy at Wicker

990 • Fiscal year 2015 • EIN 26-3202807

Jul 01, 2014 to Jun 30, 2015 • Filed on Apr 04, 2016

Organization ProfileWWW.SUCCESSPREPARATORY.ORG

View Organization Page

2011 Bienville StreetNew Orleans, LA 70112

(504) 373-6200

Siviq Scores

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

Liabilities / Assets

51st percentile

0.19x

Higher debt load relative to assets than 51% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

27th percentile

0.07x

Higher debt load relative to revenue than 27% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

41st percentile

0.6%

Higher net margin than 41% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

50th percentile

$119,569

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

42nd percentile

-0.9%

Faster asset growth than 42% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

70th percentile

13%

Faster revenue growth than 70% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets51st percentile

Assets

Down

$2,377,662

Down $21,808 (-0.9%) from 2014

Net Assets

Up

$1,922,630

Up $36,511 (+1.9%) from 2014

Liabilities

Down

$455,032

Down $58,319 (-11%) from 2014

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin41st percentile

Revenue

Up

$6,589,002

Up $736,440 (+13%) from 2014

Expenses

Up

$6,552,491

Up $1,034,612 (+19%) from 2014

Net Income

Down

$36,511

Down $298,172 (-89%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $994,897Liabilities 2010: $304,294Net Assets 2010: $690,6032010Assets 2012: $1,701,969Liabilities 2012: $251,471Net Assets 2012: $1,450,4982012Assets 2013: $1,938,126Liabilities 2013: $386,690Net Assets 2013: $1,551,4362013Assets 2014: $2,399,470Liabilities 2014: $513,351Net Assets 2014: $1,886,1192014Assets 2015: $2,377,662Liabilities 2015: $455,032Net Assets 2015: $1,922,6302015Assets 2016: $2,085,985Liabilities 2016: $127,609Net Assets 2016: $1,958,3762016Assets 2017: $2,009,306Liabilities 2017: $252,530Net Assets 2017: $1,756,7762017Assets 2019: $1,408,682Liabilities 2019: $133,818Net Assets 2019: $1,274,8642019Assets 2020: $1,725,521Liabilities 2020: $100,075Net Assets 2020: $1,625,4462020Assets 2021: $2,384,649Liabilities 2021: $129,736Net Assets 2021: $2,254,9132021Assets 2022: $2,439,777Liabilities 2022: $251,492Net Assets 2022: $2,188,2852022Assets 2024: $3,277,396Liabilities 2024: $192,823Net Assets 2024: $3,084,5732024

Highlighted filing

2015

Assets$2,377,662
Liabilities$455,032
Net Assets$1,922,630
Open 2015 Filing

Operations Trend

Revenue Growth70th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $2,302,9962010Expenses 2012: $3,861,1252012Expenses 2013: $4,643,5602013Revenue 2014: $5,852,562Expenses 2014: $5,517,879Net Income 2014: $334,6832014Revenue 2015: $6,589,002Expenses 2015: $6,552,491Net Income 2015: $36,5112015Revenue 2016: $6,525,919Expenses 2016: $6,585,073Net Income 2016: -$59,1542016Revenue 2017: $6,320,006Expenses 2017: $6,616,506Net Income 2017: -$296,5002017Revenue 2019: $6,120,770Expenses 2019: $5,926,671Net Income 2019: $194,0992019Revenue 2020: $6,312,394Expenses 2020: $5,961,812Net Income 2020: $350,5822020Revenue 2021: $6,878,904Expenses 2021: $6,249,437Net Income 2021: $629,4672021Revenue 2022: $7,661,479Expenses 2022: $7,728,107Net Income 2022: -$66,6282022Revenue 2024: $9,162,057Expenses 2024: $8,822,844Net Income 2024: $339,2132024

Highlighted filing

2015

Revenue$6,589,002
Expenses$6,552,491
Net Income$36,511
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Apr 4, 2016
Return Version
2014v6.0
Gross Receipts
$6,589,002
Mission and Program Overview

Mission

At success at thurgood marshall, we empower all students with the academic skills, character traits, and self-confidence to live happy, healthy lives of unlimited possibility.

To develop college bound students for leadership and lifelong learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,659,071$1,552,156▼ $106,915
Savings and Temporary Cash Investments$361,597$364,592▲ $2,995
Pledges and Grants Receivable$261,854$357,156▲ $95,302
Prepaid Expenses and Deferred Charges$85,525$103,023▲ $17,498
Total Assets$2,399,470$2,377,662▼ $21,808
Other Assets Total$31,423$735▼ $30,688
Liabilities
Accounts Payable and Accrued Expenses$513,351$455,032▼ $58,319
Total Liabilities$513,351$455,032▼ $58,319
Net Assets / Fund Balance
Unrestricted Net Assets$1,837,830$1,897,630▲ $59,800
Temporarily Rstr Net Assets$48,289$25,000▼ $23,289
Total Net Assets Fund Balance$1,886,119$1,922,630▲ $36,511
Total Liabilities and Net Assets / Fund Balance$2,399,470$2,377,662▼ $21,808
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Niloy GangopadhyayCo Founder/school DirectorFT$111,841$7,728$119,569
DANIEL O'CONNELLDirector of Finance & OperationFT$71,184$5,555$76,739

Board Members and Trustees

NameTitle
Lee AdlerBoard Chair
Ryan BatesVice-chair/treasurer
Kathryn ConeybearDirector of Finance
Anderson BakerMember-at-large
Avery CorenswetMember-at-large
Ben BlanchardMember-at-large
Blake PooleMember-at-large
Blanche Dee MccloskeyMember-at-large
Gary CarterMember-at-large
Jack CareyMember-at-large
Kathryn BroussardMember-at-large
King LoganMember-at-large
Louis RodriguezMember-at-large
Robert EdgecombeMember-at-large
Shawn PreauMember-at-large
Tanya RobinsonMember-at-large
Avione PichonSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Revolution FoodsFood ServicesPO BOX 742759, Los Angeles, CA 90074$580,960
First Line SchoolsBus Transportation330 N BROAD ST STE 207, New Orleans, LA 70119$535,727
Revenue and Support

Revenue Composition

Contributions and Grants
$6,589,002
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$66,828
Change in Net Assets
$36,511

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,589,002
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$94,900
Total Revenue per Audited Statements
$6,683,902
Total Revenue per Form 990
$6,589,002
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,982,234
Other Expenses$2,570,257
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,549,066$236,344-$3,785,410
Fees for Services Other$331,656$71,541-$403,197
All Other Expenses$38,409$263,970-$302,379
Other Expenses$243,172$251,001-$251,001
Current Officers, Directors, Trustees, and Key Employees$120,085$76,739-$196,824
Occupancy-$50,818-$50,818
Insurance-$28,792-$28,792
Fees for Services Accounting-$27,174-$27,174
Advertising-$5,618-$5,618
Travel$947$4,478-$5,425
Interest-$247-$247
Total Functional Expenses$4,283,335$2,269,156$0$6,552,491

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,647,391
Expenses per Audited Statements$6,552,491
Total Expenses per Form 990$6,552,491
Expenses Not Reported on Form 990$94,900
Expenses Not Reported on Financial Statements$0
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
Lee AdlerBoard MemberLEE ADLER, BOARD CHAIRPERSON, IS A PARTNER AT PHELPS DUNBAR, L.L.P. ("LAW FIRM"). THE SCHOOL ENGAGED THE LAW FIRM FOR LEGAL SERVICES ON BEHALF OF ITS EMPLOYEES. THE LAW FIRM PERFORMED THE LEGAL SERVICES ON A PRO BONO BASIS, AND BILLED THE SCHOOL FOR THE RELATED OUT-OF-POCKET EXPENSES (BEING $6,240) IN PERFORMING THE SERVICES. THE LEGAL SERVICES WERE NOT PERFORMED BY MR. ADLER, BUT RATHER ANOTHER LAWYER AT THE LAW FIRM.No$6,240
Kathryn BroussardBoard MemberKathryn Broussard, Board Member, Is a Former Senior Vice-president and Senior Banker in the New Orleans Market Banking Division of Jp Morgan Chase Bank. Success Preparatory Academy Holds 2 Checking and 1 Savings Account With Jp Morgan Chase Bank.No$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

“Existing members of the board of directors must nominate new members. New members are then approved by the vote of the board of directors.”

Form 990, Part VI, Section A, Line 7B

“The louisiana department of education and state board of elementary and secondary education has selective oversight over board decisions. Any board decisions may be subject to approval and compliance with department policies and directives.”

Form 990, Part VI, Section B, Line 11

“Line 11a explanation - each board member receives a draft copy of the 990 and examines for items that may bring up discussion with other members and/or tax preparer.”

Form 990, Part VI, Section B, Line 12C

“Conflict of interest policy is updated as conflicts arise following initial clearance for board of director elections.”

Form 990, Part VI, Section B, Line 15A

“Officer salary originally was determined by the non-profit entity's third party leadership program, new schools for new orleans. Officers participated in the program during the 2008-09 school year. The original salary was based on the average salaries by position at that time. Thereafter, the board has raised the officers salaries 2-4% annually based on individual officer performance evaluations. Other staff salaries are based on the 2008-09 recovery school district salary scle plus 10% to account for an extended school year. Each subsequent year, there has been a 2-3% cost of living increase.”

Form 990, Part VI, Section C, Line 19

“Success preparatory academy makes all board meeting agendas and minutes public by posting on their website, www.successpreparatory.org.”

Filing and Contact Details

Filer

Filer Name
Success Preparatory Academy
EIN
26-3202807
Phone
5043736200
Address
2011 BIENVILLE STREET, NEW ORLEANS, LA 70112

Signing Officer

Name
Kathryn Coneybear
Title
Director of Finance
Phone
5043736200
Signed
2016-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Niloy Gangopadhyay
Formed
2008
Legal Domicile
La
Voting Board Members
15
Independent Board Members
15
Employees
98
Volunteers
171

Preparer

Firm
Carr Riggs & Ingram LLC
Address
3501 N CAUSEWAY BLVD STE 810, METAIRIE, LA 70002
Preparer
Jack B Kase CPA Pfs
Phone
5048379116
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 1C

“No 1099-misc recipients were subject backup wtihholding”

Financial Statement Notes

PART X, LINE 2:

“On january 1, 2009, success prep adopted a standard relating to the accounting for uncertainty in income taxes. The tax effect from an uncertain tax position can be recognized in the financial statements, only if the position is more likely than not to be sustained on audit, based on the technical merits of the position. Success prep recognizes the financial statement benefits of a tax position only after determining that the relevant tax authority would be more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized, upon ultimate settlement with the relevant tax authority. At the adoption date, success prep applied the new accounting standard to all tax positions for which the statute of limitations remained open. Success prep did not make any adjustment to beginning net assets as a result of the implementation of the accounting standard. Based on its evaluation, success prep has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements.”

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/TitleTxt0MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt1MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt2MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt3MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt7VICE-CHAIR/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt10MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt11MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt12MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt14MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt15MEMBER-AT-LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt16CO FOUNDER/SCHOOL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIR OF FINANCE & OPERATION
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR OF FINANCE
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02008
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt015
IRS990/GovernmentGrantsAmt06522174
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt06589002
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt015
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartVInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt028792
IRS990/InsuranceGrp/TotalAmt028792
IRS990/InterestGrp/ManagementAndGeneralAmt0247
IRS990/InterestGrp/TotalAmt0247
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt010
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0LA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO DEVELOP COLLEGE BOUND STUDENTS FOR LEADERSHIP AND LIFELONG LEARNING.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01886119
IRS990/NetAssetsOrFundBalancesEOYAmt01922630
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt050818
IRS990/OccupancyGrp/TotalAmt050818
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt031423
IRS990/OtherAssetsTotalGrp/EOYAmt0735
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0FOOD SERVICE
IRS990/OtherExpensesGrp/Desc1BUS SERVICE
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3PURCHASED PROP SERVICES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0610850
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1602726
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt238858
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3251001
IRS990/OtherExpensesGrp/ProgramServicesAmt0243172
IRS990/OtherExpensesGrp/TotalAmt0610850
IRS990/OtherExpensesGrp/TotalAmt1602726
IRS990/OtherExpensesGrp/TotalAmt2282030
IRS990/OtherExpensesGrp/TotalAmt3251001
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0236344
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt03549066
IRS990/OtherSalariesAndWagesGrp/TotalAmt03785410
IRS990/PartialLiquidationInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0261854
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0357156
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt085525
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0103023
IRS990/PrincipalOfficerNm0NILOY GANGOPADHYAY
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05852562
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt02292491
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0334683
IRS990/PYSalariesCompEmpBnftPaidAmt03225388
IRS990/PYTotalExpensesAmt05517879
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05852562
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt036511
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0361597
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0364592
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt094900
IRS990ScheduleD/DonatedServicesUseFcltsAmt094900
IRS990ScheduleD/ExpensesNotReportedAmt094900
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt06552491
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt094900
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06589002
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ON JANUARY 1, 2009, SUCCESS PREP ADOPTED A STANDARD RELATING TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE TAX EFFECT FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS, ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. SUCCESS PREP RECOGNIZES THE FINANCIAL STATEMENT BENEFITS OF A TAX POSITION ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD BE MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. FOR TAX POSITIONS MEETING THE MORE LIKELY THAN NOT THRESHOLD, THE AMOUNT RECOGNIZED IN THE FINANCIAL STATEMENTS IS THE LARGEST BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED, UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAX AUTHORITY. AT THE ADOPTION DATE, SUCCESS PREP APPLIED THE NEW ACCOUNTING STANDARD TO ALL TAX POSITIONS FOR WHICH THE STATUTE OF LIMITATIONS REMAINED OPEN. SUCCESS PREP DID NOT MAKE ANY ADJUSTMENT TO BEGINNING NET ASSETS AS A RESULT OF THE IMPLEMENTATION OF THE ACCOUNTING STANDARD. BASED ON ITS EVALUATION, SUCCESS PREP HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN ITS FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt06552491
IRS990ScheduleD/TotalRevenuePerForm990Amt06589002
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06683902
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06647391
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0STUDENT REGISTRATION AND ENROLLMENT OCCURS THROUGH A CENTRALIZED PROCESS THAT IS MANAGED BY THE RECOVERY SCHOOL DISTRICT. SUCCESS PREPARATORY ACADEMY PUBLICIZES ITS NONDISCRIMINATORY POLICY AS IT RELATES TO STUDENT ENROLLMENT ON THE SCHOOL WEBSITE (SUCCESSPREPARATORY.ORG).
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1SUCCESS PREPARATORY ACADEMY IS A CHARTER SCHOOL IN NEW ORLEANS. IT RECEIVES ASSISTANCE PRIMARILY FROM THE UNITED STATES DEPARTMENT OF EDUCATION AND THE LOUISIANA STATE DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0KATHRYN BROUSSARD
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1LEE ADLER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt16240
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0KATHRYN BROUSSARD, BOARD MEMBER, IS A FORMER SENIOR VICE-PRESIDENT AND SENIOR BANKER IN THE NEW ORLEANS MARKET BANKING DIVISION OF JP MORGAN CHASE BANK. SUCCESS PREPARATORY ACADEMY HOLDS 2 CHECKING AND 1 SAVINGS ACCOUNT WITH JP MORGAN CHASE BANK.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1LEE ADLER, BOARD CHAIRPERSON, IS A PARTNER AT PHELPS DUNBAR, L.L.P. ("LAW FIRM"). THE SCHOOL ENGAGED THE LAW FIRM FOR LEGAL SERVICES ON BEHALF OF ITS EMPLOYEES. THE LAW FIRM PERFORMED THE LEGAL SERVICES ON A PRO BONO BASIS, AND BILLED THE SCHOOL FOR THE RELATED OUT-OF-POCKET EXPENSES (BEING $6,240) IN PERFORMING THE SERVICES. THE LEGAL SERVICES WERE NOT PERFORMED BY MR. ADLER, BUT RATHER ANOTHER LAWYER AT THE LAW FIRM.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO 1099-MISC RECIPIENTS WERE SUBJECT BACKUP WTIHHOLDING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXISTING MEMBERS OF THE BOARD OF DIRECTORS MUST NOMINATE NEW MEMBERS. NEW MEMBERS ARE THEN APPROVED BY THE VOTE OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE LOUISIANA DEPARTMENT OF EDUCATION AND STATE BOARD OF ELEMENTARY AND SECONDARY EDUCATION HAS SELECTIVE OVERSIGHT OVER BOARD DECISIONS. ANY BOARD DECISIONS MAY BE SUBJECT TO APPROVAL AND COMPLIANCE WITH DEPARTMENT POLICIES AND DIRECTIVES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3LINE 11A EXPLANATION - EACH BOARD MEMBER RECEIVES A DRAFT COPY OF THE 990 AND EXAMINES FOR ITEMS THAT MAY BRING UP DISCUSSION WITH OTHER MEMBERS AND/OR TAX PREPARER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLICT OF INTEREST POLICY IS UPDATED AS CONFLICTS ARISE FOLLOWING INITIAL CLEARANCE FOR BOARD OF DIRECTOR ELECTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OFFICER SALARY ORIGINALLY WAS DETERMINED BY THE NON-PROFIT ENTITY'S THIRD PARTY LEADERSHIP PROGRAM, NEW SCHOOLS FOR NEW ORLEANS. OFFICERS PARTICIPATED IN THE PROGRAM DURING THE 2008-09 SCHOOL YEAR. THE ORIGINAL SALARY WAS BASED ON THE AVERAGE SALARIES BY POSITION AT THAT TIME. THEREAFTER, THE BOARD HAS RAISED THE OFFICERS SALARIES 2-4% ANNUALLY BASED ON INDIVIDUAL OFFICER PERFORMANCE EVALUATIONS. OTHER STAFF SALARIES ARE BASED ON THE 2008-09 RECOVERY SCHOOL DISTRICT SALARY SCLE PLUS 10% TO ACCOUNT FOR AN EXTENDED SCHOOL YEAR. EACH SUBSEQUENT YEAR, THERE HAS BEEN A 2-3% COST OF LIVING INCREASE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6SUCCESS PREPARATORY ACADEMY MAKES ALL BOARD MEETING AGENDAS AND MINUTES PUBLIC BY POSTING ON THEIR WEBSITE, WWW.SUCCESSPREPARATORY.ORG.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V, LINE 1C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B

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.

Open filing
Assets
$2,377,662
Liabilities
$455,032
Net assets
$1,922,630
Revenue
$6,589,002
Expenses
$6,552,491
Net income
$36,511
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.28$0.19$3.08$9.16$8.82$0.34
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.44$0.25$2.19$7.66$7.73$0.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.38$0.13$2.25$6.88$6.25$0.63
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.73$0.10$1.63$6.31$5.96$0.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.41$0.13$1.27$6.12$5.93$0.19
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.01$0.25$1.76$6.32$6.62$0.30
2016Detailed filing. Detailed filing data is available for this year.$2.09$0.13$1.96$6.53$6.59$0.06
2015Detailed filing. Detailed filing data is available for this year.$2.38$0.46$1.92$6.59$6.55$0.04
2014Detailed filing. Detailed filing data is available for this year.$2.40$0.51$1.89$5.85$5.52$0.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.94$0.39$1.55$4.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.70$0.25$1.45$3.86
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$0.30$0.69$2.30