Civic Intelligence

Rhode Island Mayoral Academies

990 • Fiscal year 2014 • EIN 26-3896058

Jul 01, 2013 to Jun 30, 2014 • Filed on May 13, 2015

Organization ProfileWWW.MAYORALACADEMIES.ORG

View Organization Page

160 Westminster Street No 20202903

(401) 244-7496

Siviq Scores

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

Liabilities / Assets

88th percentile

0.85x

Higher debt load relative to assets than 88% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

89th percentile

2.54x

Higher debt load relative to revenue than 89% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

77th percentile

18%

Higher net margin than 77% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

63rd percentile

$148,664

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 7.5% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

76th percentile

13%

Faster asset growth than 76% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2012 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$5,936,697

Up $1,278,624 (+27%) from 2012

Net Assets

Up

$868,305

Up $257,680 (+42%) from 2012

Liabilities

Up

$5,068,392

Up $1,020,944 (+25%) from 2012

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin77th percentile

Revenue

$1,992,718

No earlier filing loaded for comparison.

Expenses

Up

$1,630,930

Up $78,347 (+5.0%) from 2012

Net Income

$361,788

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $989,726Liabilities 2010: $402,463Net Assets 2010: $587,2632010Assets 2012: $4,658,073Liabilities 2012: $4,047,448Net Assets 2012: $610,6252012Assets 2014: $5,936,697Liabilities 2014: $5,068,392Net Assets 2014: $868,3052014Assets 2015: $5,953,444Liabilities 2015: $4,965,523Net Assets 2015: $987,9212015Assets 2017: $5,678,199Liabilities 2017: $5,054,162Net Assets 2017: $624,0372017

Highlighted filing

2014

Assets$5,936,697
Liabilities$5,068,392
Net Assets$868,305
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $943,8612010Expenses 2012: $1,552,5832012Revenue 2014: $1,992,718Expenses 2014: $1,630,930Net Income 2014: $361,7882014Revenue 2015: $2,145,575Expenses 2015: $2,025,959Net Income 2015: $119,6162015Revenue 2017: $1,339,441Expenses 2017: $1,631,601Net Income 2017: -$292,1602017

Highlighted filing

2014

Revenue$1,992,718
Expenses$1,630,930
Net Income$361,788
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 13, 2015
Return Version
2013v4.0
Gross Receipts
$1,992,718
Mission and Program Overview

Mission

To oversee a network of new public schools across the state of rhode island known as mayoral academies.

Establishment of charter public schools

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,334,330$5,366,290▲ $1,031,960
Accounts Receivable-$361,684-
Prepaid Expenses and Deferred Charges$63,582$89,000▲ $25,418
Cash and Non-Interest-Bearing Accounts$45,563$67,627▲ $22,064
Savings and Temporary Cash Investments$57,351$52,096▼ $5,255
Total Assets$4,500,826$5,936,697▲ $1,435,871
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,805,004$4,597,289▲ $792,285
Deferred Revenue-$334,480-
Accounts Payable and Accrued Expenses$189,305$136,623▼ $52,682
Total Liabilities$3,994,309$5,068,392▲ $1,074,083
Net Assets / Fund Balance
Unrestricted Net Assets$506,517$868,305▲ $361,788
Total Net Assets Fund Balance$506,517$868,305▲ $361,788
Total Liabilities and Net Assets / Fund Balance$4,500,826$5,936,697▲ $1,435,871

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,824,708$455,386$5,280,094
Land$411,900-$411,900
Leasehold Improvements$117,349$82,793$200,142
Equipment$12,333$22,489$34,822
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael Magee PhdCEOFT$142,887$5,777$148,664
David LauckCFOFT$108,681$17,029$125,710

Board Members and Trustees

NameTitle
Daniel J MckeeChairman
Allan W FungDirector
Angus DavisDirector
Ellen WinnDirector
Joe WilliamsDirector
John MortonDirector
Norman Mcculloch JrDirector
Pablo Rodriguez MdDirector
Richard B LynchDirector
Daniel C WaughSecretary (non-voting)
John CarterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,460,314
Program Service Revenue
$372,979
Investment Income
$884
Other Revenue
$158,541
All Other Contributions
$1,460,314
Change in Net Assets
$361,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$810,809
Salaries, Compensation, and Employee Benefits$620,121
Grants and Similar Amounts Paid$200,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$184,826$89,048-$273,874
Current Officers, Directors, Trustees, and Key Employees$174,607$94,019-$268,626
Interest$223,221--$223,221
Grants to Domestic Orgs$200,000--$200,000
Depreciation Depletion$257,326$-78,809-$178,517
Advertising$120,143--$120,143
Occupancy$54,591$19,628-$74,219
Fees for Services Lobbying$54,075--$54,075
Fees for Services Legal$50,914--$50,914
Fees for Services Accounting$15,474$27,943-$43,417
Other Employee Benefits$26,621$13,074-$39,695
Payroll Taxes$25,149$12,777-$37,926
Travel$27,416--$27,416
Office Expenses$15,250$6,126-$21,376
Conferences and Meetings$5,403$6,896-$12,299
Insurance-$3,822-$3,822
Fees for Services Other-$494-$494
Other Expenses$27$79-$106
Total Functional Expenses$1,435,043$195,887$0$1,630,930
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
46-1986417-GovernmentSupport for Establishment of Charter School$200,000
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
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
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, Line 11

“The form 990 is prepared by the external auditors and reviewed by management. Once all are satisfied with the form, it is finalized and a copy is sent to all board members. At the subsequent board meeting, the board is asked if they have any questions or comments and a general review of the form is conducted by management. Revisions, corrections, etc. Are made as necessary. Subsequent to this meeting, the form is submitted to the irs.”

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

“Each year the organization's conflict of interest policy is provided to all officers, directors and key employees. These people are asked to review the policy and sign a statement indicating that they understand the policy and have reported all potential conflicts during the past year in accordance with the policy and will report all potential conflicts during the coming year. All potential conflicts are evaluated by the board to determine if a conflict actually exists. In those instances where the potential transaction is a conflict, the board examines the transaction and a vote is taken (with those involved recusing themselves) as to whether the organization will enter into the transaction.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents (articles of incorporation and by-laws), its conflict of interest policy and financial statements available upon request. The organization will mail copies upon request or provide copies to those who come to the administrative offices during normal business hours. The organization charges for the copies in accordance with irs regulations.”

Filing and Contact Details

Filer

EIN
26-3896058
Phone
4012447496

Signing Officer

Name
David Lauck
Title
CFO
Phone
4012447496
Signed
2015-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Magee Phd
Formed
2009
Legal Domicile
Ri
Voting Board Members
10
Independent Board Members
10
Employees
6
Volunteers
0

Preparer

Preparer
Deborah a Hopkins
Phone
4012742001
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Rima (rhode island mayoral academies) is exempt from income taxes as a public charity under section 501(c)(3) of the internal revenue code. Management believes that this entity operates in a manner consistent with its tax-exempt status at both the state and federal levels. Rima annually files irs form 990 - return of organization exempt from income tax, reporting various information that the irs uses to monitor the activities of tax-exempt entities. For federal income tax purposes, shi (school holdings i, llc) is a disregarded entity and the results of its operations are reported in the form 990 of rima, its sole member. For rhode island corporate income tax purposes, shi files a corporate income tax return and is subject to the $500 annual rhode island minimum corporate franchise tax. These tax returns are subject to review by the taxing authorities, generally for three years after they were filed. The federal tax returns for the years ended june 30, 2011, 2012, and 2013 remain open for review. There are no tax examinations in progress for either entity.”

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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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IRS990/Desc0RHODE ISLAND MAYORAL ACADEMIES (RIMA) IS THE NAME OF A NON-PROFIT ORGANIZATION THAT SUPPORTS THE STATEWIDE GROWTH OF MAYORAL ACADEMIES: HIGH-PERFORMING, DIVERSE, REGIONAL PUBLIC SCHOOLS GOVERNED BY MAYOR-LED SCHOOL BOARDS. RIMA WORKS TOWARDS THIS MISSION BY RECRUITING EXTRAORDINARY SCHOOL OPERATORS AND LEADERS TO OPEN MAYORAL ACADEMIES; SUPPORTING MAYORAL ACADEMIES FROM THE APPLICATION STAGE THROUGH THE FIRST YEARS OF GROWTH; AND CULTIVATING MAYORS ACROSS RHODE ISLAND TO BECOME LEADERS IN IMPROVING PUBLIC EDUCATION.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1290
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt279
IRS990/OtherExpensesGrp/ProgramServicesAmt027
IRS990/OtherExpensesGrp/TotalAmt0500
IRS990/OtherExpensesGrp/TotalAmt1290
IRS990/OtherExpensesGrp/TotalAmt2106
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt0158541
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0158541
IRS990/OtherRevenueTotalAmt0158541
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt089048
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0184826
IRS990/OtherSalariesAndWagesGrp/TotalAmt0273874
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt012777
IRS990/PayrollTaxesGrp/ProgramServicesAmt025149
IRS990/PayrollTaxesGrp/TotalAmt037926
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt063582
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt089000
IRS990/PrincipalOfficerNm0MICHAEL MAGEE PHD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0372979
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0372979
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01215870
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0228457
IRS990/PYInvestmentIncomeAmt0995
IRS990/PYOtherExpensesAmt0940583
IRS990/PYOtherRevenueAmt036000
IRS990/PYProgramServiceRevenueAmt0285495
IRS990/PYRevenuesLessExpensesAmt0-104108
IRS990/PYSalariesCompEmpBnftPaidAmt0473428
IRS990/PYTotalExpensesAmt01642468
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01538360
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0361788
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0372979
IRS990/SavingsAndTempCashInvstGrp/BOYAmt057351
IRS990/SavingsAndTempCashInvstGrp/EOYAmt052096
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt0210000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt0300000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt0202500
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt0317000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt0300000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt01329500
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt01460314
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01215870
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01309500
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01048500
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01438469
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt06472653
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0884
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0995
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01254
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01487
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt04620
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0531520
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0321495
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0174922
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt073716
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01101653
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0884
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0995
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01254
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01487
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt04620
IRS990ScheduleA/InvestmentIncomeCYPct00.00060
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.82400
IRS990ScheduleA/PublicSupportTotal509Amt06244806
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt0210000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt0300000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt0202500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt0317000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt0300000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt01329500
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01991834
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01537365
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01484422
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01122216
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01438469
IRS990ScheduleA/Total509Grp/TotalAmt07574306
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01992718
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01538360
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01485676
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01123703
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01438469
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt07578926
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
IRS990ScheduleC/DirectContactLegislatorsAmt054075
IRS990ScheduleC/DirectContactLegislatorsInd01
IRS990ScheduleC/GrantsOtherOrganizationsInd00
IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesInd00
IRS990ScheduleC/PaidStaffOrManagementInd00
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0RIMA'S LOBBYING EXPENDITURES WERE ASSOCIATED WITH LEGISLATION THAT WOULD SLOW THE GROWTH OR IMPEDE THE PERFORMANCE OF EXISTING MAYORAL ACADEMIES, AS WELL AS FOR LEGISLATION RELATED TO FAIR AND EQUITABLE IMPROVEMENTS TO STATE SCHOOL CONSTRUCTION POLICY. RIMA STAFF PERCEIVES THESE ACTIVITIES AS SHORT-TERM, RATHER THAN PERPETUAL, POLICY GOALS AND EXPENSES.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0PART II-B, LINE 1:
IRS990ScheduleC/TotalLobbyingExpendituresAmt054075
IRS990ScheduleC/VolunteersInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt04824708
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0455386
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05280094
IRS990ScheduleD/EquipmentGrp/BookValueAmt012333
IRS990ScheduleD/EquipmentGrp/DepreciationAmt022489
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt034822
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0411900
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0411900
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0117349
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt082793
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0200142
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RIMA (RHODE ISLAND MAYORAL ACADEMIES) IS EXEMPT FROM INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THIS ENTITY OPERATES IN A MANNER CONSISTENT WITH ITS TAX-EXEMPT STATUS AT BOTH THE STATE AND FEDERAL LEVELS. RIMA ANNUALLY FILES IRS FORM 990 - RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, REPORTING VARIOUS INFORMATION THAT THE IRS USES TO MONITOR THE ACTIVITIES OF TAX-EXEMPT ENTITIES. FOR FEDERAL INCOME TAX PURPOSES, SHI (SCHOOL HOLDINGS I, LLC) IS A DISREGARDED ENTITY AND THE RESULTS OF ITS OPERATIONS ARE REPORTED IN THE FORM 990 OF RIMA, ITS SOLE MEMBER. FOR RHODE ISLAND CORPORATE INCOME TAX PURPOSES, SHI FILES A CORPORATE INCOME TAX RETURN AND IS SUBJECT TO THE $500 ANNUAL RHODE ISLAND MINIMUM CORPORATE FRANCHISE TAX. THESE TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. THE FEDERAL TAX RETURNS FOR THE YEARS ENDED JUNE 30, 2011, 2012, AND 2013 REMAIN OPEN FOR REVIEW. THERE ARE NO TAX EXAMINATIONS IN PROGRESS FOR EITHER ENTITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05366290
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt0200000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOVERNMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SUPPORT FOR ESTABLISHMENT OF CHARTER SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10ACHIEVEMENT FIRST PROVIDENCE MAYORAL ACADEMY
IRS990ScheduleI/RecipientTable/RecipientEIN0461986417
IRS990ScheduleI/RecipientTable/USAddress/AddressLine10370 HARTFORD AVENUE

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,936,697
Liabilities
$5,068,392
Net assets
$868,305
Revenue
$1,992,718
Expenses
$1,630,930
Net income
$361,788
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.68$5.05$0.62$1.34$1.63$0.29
2015Detailed filing. Detailed filing data is available for this year.$5.95$4.97$0.99$2.15$2.03$0.12
2014Detailed filing. Detailed filing data is available for this year.$5.94$5.07$0.87$1.99$1.63$0.36
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.66$4.05$0.61$1.55
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$0.40$0.59$0.94