Civic Intelligence

Educational Properties Inc.

990 • Fiscal year 2016 • EIN 27-0953344

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

Organization ProfileN/A
3248 Laurel StreetNew Orleans, LA 70115

(202) 328-0760

Siviq Scores

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

Liabilities / Assets

91st percentile

0.95x

Higher debt load relative to assets than 91% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

14.68x

Higher debt load relative to revenue than 97% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

63rd percentile

6.2%

Higher net margin than 63% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

27th percentile

-2.6%

Faster asset growth than 27% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

13th percentile

-24%

Faster revenue growth than 13% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$15,259,185

Down $403,198 (-2.6%) from 2015

Net Assets

Up

$708,255

Up $61,783 (+9.6%) from 2015

Liabilities

Down

$14,550,930

Down $464,981 (-3.1%) from 2015

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin63rd percentile

Revenue

Down

$991,438

Down $312,606 (-24%) from 2015

Expenses

Down

$929,655

Down $530,985 (-36%) from 2015

Net Income

Up

$61,783

Up $218,379 (+139%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

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

$30M$20M$10M$0Assets 2014: $25,555,482Liabilities 2014: $24,752,414Net Assets 2014: $803,0682014Assets 2015: $15,662,383Liabilities 2015: $15,015,911Net Assets 2015: $646,4722015Assets 2016: $15,259,185Liabilities 2016: $14,550,930Net Assets 2016: $708,2552016Assets 2017: $282,770Liabilities 2017: $7,078Net Assets 2017: $275,6922017Assets 2018: $274,806Liabilities 2018: $6,330Net Assets 2018: $268,4762018Assets 2019: $190,266Liabilities 2019: $7,717Net Assets 2019: $182,5492019Assets 2020: $254,748Liabilities 2020: $98,404Net Assets 2020: $156,3442020Assets 2021: $402,136Liabilities 2021: $98,404Net Assets 2021: $303,7322021Assets 2022: $401,833Liabilities 2022: $98,404Net Assets 2022: $303,4292022Assets 2023: $401,835Liabilities 2023: $98,404Net Assets 2023: $303,4312023

Highlighted filing

2016

Assets$15,259,185
Liabilities$14,550,930
Net Assets$708,255
Open 2016 Filing

Operations Trend

Revenue Growth13th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $1,428,301Expenses 2014: $1,087,401Net Income 2014: $340,9002014Revenue 2015: $1,304,044Expenses 2015: $1,460,640Net Income 2015: -$156,5962015Revenue 2016: $991,438Expenses 2016: $929,655Net Income 2016: $61,7832016Revenue 2017: -$200,985Expenses 2017: $231,578Net Income 2017: -$432,5632017Revenue 2018: $695Expenses 2018: $7,911Net Income 2018: -$7,2162018Revenue 2019: $633Expenses 2019: $86,561Net Income 2019: -$85,9282019Revenue 2020: $485Expenses 2020: $26,690Net Income 2020: -$26,2052020Revenue 2021: $153,477Expenses 2021: $6,089Net Income 2021: $147,3882021Revenue 2022: $128,336Expenses 2022: $969Net Income 2022: $127,3672022Revenue 2023: $1,3472023

Highlighted filing

2016

Revenue$991,438
Expenses$929,655
Net Income$61,783
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$991,438
Mission and Program Overview

Mission

Epi works to facilitate the development and leasing of real estate for public charter schools. Epi also works with nonprofit and business community leaders to create a sustainable public policy solution for charter school facilities.

Epi works to facilitate the development and leasing of real estate for public charter schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,731,850$1,827,632▲ $95,782
Total Assets$15,662,383$15,259,185▼ $403,198
Other Assets Total$13,930,533$13,431,553▼ $498,980
Liabilities
Tax Exempt Bond Liabilities$14,135,000$13,665,113▼ $469,887
Accounts Payable and Accrued Expenses$468,319$443,033▼ $25,286
Other Liabilities$206,743$236,935▲ $30,192
Mortgage Notes Payable Secured by Investment Property$205,849$205,849→ $0
Total Liabilities$15,015,911$14,550,930▼ $464,981
Net Assets / Fund Balance
Unrestricted Net Assets$646,472$708,255▲ $61,783
Total Net Assets Fund Balance$646,472$708,255▲ $61,783
Total Liabilities and Net Assets / Fund Balance$15,662,383$15,259,185▼ $403,198

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$137,000--
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Kathleen PadianPresident
Joe KeeneySecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$991,433
Investment Income
$5
Other Revenue
$0
Change in Net Assets
$61,783
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$929,655
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$856,328--$856,328
Fees for Services Accounting-$14,926-$14,926
Fees for Services Other$7,500$5,989-$13,489
Other Expenses$4,349--$4,349
Conferences and Meetings$2,259--$2,259
Office Expenses$54--$54
Total Functional Expenses$908,740$20,915$0$929,655
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Bond Premium$182,935
Capital Improvement$54,000

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Minneapolis Charter School2013-06-25$14,073,262Purchase, rennovate and expand new public school facility

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$14,073,262--$266,394

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 8A

“Minutes are maintained for meetings held during the year.”

Form 990, Page 6, Part VI, Line 8B

“Minutes are maintained for meetings held during the year.”

Form 990, Page 6, Part VI, Line 11B

“A draft copy of form 990 was forwarded to the board for their review so that any necessary changes could be made prior to filing the final return.”

Form 990, Page 6, Part VI, Line 12C

“The organization is small with no employees. Informally, the board disloses any known conflict of interest issues as they arise.”

Form 990, Page 6, Part VI, Line 19

“The organization makes all of its governing documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Educational Properties Inc
EIN
27-0953344
Phone
2023280760
Address
3248 LAUREL STREET, NEW ORLEANS, LA 70115

Signing Officer

Name
Kathleen Padian
Title
President
Phone
2023280760
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Padian
Formed
2009
Legal Domicile
De
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Kendall Prebola and Jones LLC
Address
PO BOX 259, BEDFORD, PA 15522-0259
Preparer
Robert F Prebola CPA
Phone
8146231880
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Epi works to facilitate the development and leasing of real estate for public charter schools. Epi also works with nonprofit and business community leaders to create a sustainable public policy solution for charter school facilities.”

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

“Program services- obtaining financing for public charter school land and buildings and acquiring and developing this property to be used by charter schools.”

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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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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt012447918
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt0362022
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0996928
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0266394
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02015
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt014073262
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EPI WORKS TO FACILITATE THE DEVELOPMENT AND LEASING OF REAL ESTATE FOR PUBLIC CHARTER SCHOOLS. EPI ALSO WORKS WITH NONPROFIT AND BUSINESS COMMUNITY LEADERS TO CREATE A SUSTAINABLE PUBLIC POLICY SOLUTION FOR CHARTER SCHOOL FACILITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROGRAM SERVICES- OBTAINING FINANCING FOR PUBLIC CHARTER SCHOOL LAND AND BUILDINGS AND ACQUIRING AND DEVELOPING THIS PROPERTY TO BE USED BY CHARTER SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MINUTES ARE MAINTAINED FOR MEETINGS HELD DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MINUTES ARE MAINTAINED FOR MEETINGS HELD DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A DRAFT COPY OF FORM 990 WAS FORWARDED TO THE BOARD FOR THEIR REVIEW SO THAT ANY NECESSARY CHANGES COULD BE MADE PRIOR TO FILING THE FINAL RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION IS SMALL WITH NO EMPLOYEES. INFORMALLY, THE BOARD DISLOSES ANY KNOWN CONFLICT OF INTEREST ISSUES AS THEY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ALL OF ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0EPI
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1EPI
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0EDUCATIONAL PROPERTIES TCGIS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1EDUCATIONAL PROPERTIES YINGHUA LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0800923794
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1352476368
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt014987302
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1MN
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0ACQUISITIO
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1ACQUISITIO
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt01025923
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt03248 LAUREL STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt13248 LAUREL STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0NEW ORLEANS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1NEW ORLEANS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0LA
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd070115
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IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt014135000
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt013665113
IRS990/TaxExemptBondsInd0true
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt015662383
IRS990/TotalAssetsEOYAmt015259185
IRS990/TotalAssetsGrp/BOYAmt015662383
IRS990/TotalAssetsGrp/EOYAmt015259185
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020915
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0908740
IRS990/TotalFunctionalExpensesGrp/TotalAmt0929655
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt015015911
IRS990/TotalLiabilitiesEOYAmt014550930
IRS990/TotalLiabilitiesGrp/BOYAmt015015911
IRS990/TotalLiabilitiesGrp/EOYAmt014550930
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0646472
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0708255
IRS990/TotalProgramServiceExpensesAmt0908740
IRS990/TotalProgramServiceRevenueAmt0991433
IRS990/TotalRevenueGrp/ExclusionAmt05
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0991433
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0991438
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt015662383
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt015259185
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0646472
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0708255
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03248 LAUREL STREET
IRS990/USAddress/CityNm0NEW ORLEANS
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd070115
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KATHLEEN PADIAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02023280760
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EDUCATIONAL PROPERTIES INC
ReturnHeader/Filer/BusinessNameControlTxt0EDUC
ReturnHeader/Filer/EIN0270953344
ReturnHeader/Filer/PhoneNum02023280760
ReturnHeader/Filer/USAddress/AddressLine1Txt03248 LAUREL STREET
ReturnHeader/Filer/USAddress/CityNm0NEW ORLEANS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0LA
ReturnHeader/Filer/USAddress/ZIPCd070115
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CBB56391CAB8C94B13B8C5A5D2AEE589E695ECE5
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DD917E1B72BC0737002DE76401B4FF4CE3C8F609
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0462108854
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KENDALL PREBOLA AND JONES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 259
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BEDFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0155220259
ReturnHeader/PreparerPersonGrp/PhoneNum08146231880
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT F PREBOLA CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-11-15T15:21:03-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,259,185
Liabilities
$14,550,930
Net assets
$708,255
Revenue
$991,438
Expenses
$929,655
Net income
$61,783
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.40$0.10$0.30$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.40$0.10$0.30$0.13$0.00$0.13
2021Detailed filing. Detailed filing data is available for this year.$0.40$0.10$0.30$0.15$0.01$0.15
2020Detailed filing. Detailed filing data is available for this year.$0.25$0.10$0.16$0.00$0.03$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.19$0.01$0.18$0.00$0.09$0.09
2018Detailed filing. Detailed filing data is available for this year.$0.27$0.01$0.27$0.00$0.01$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.28$0.01$0.28$0.20$0.23$0.43
2016Detailed filing. Detailed filing data is available for this year.$15.3$14.6$0.71$0.99$0.93$0.06
2015Detailed filing. Detailed filing data is available for this year.$15.7$15.0$0.65$1.30$1.46$0.16
2014Detailed filing. Detailed filing data is available for this year.$25.6$24.8$0.80$1.43$1.09$0.34