Civic Intelligence

Brighter Choice Charter Middle School for Boys

990 • Fiscal year 2015 • EIN 27-1663553

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 08, 2016

395 Elk StreetAlbany, NY 12206

(518) 703-6100

Siviq Scores

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

Liabilities / Assets

99th percentile

2.47x

Higher debt load relative to assets than 99% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

92nd percentile

2.96x

Higher debt load relative to revenue than 92% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

16th percentile

-17%

Higher net margin than 16% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

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.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

1st percentile

-59%

Faster asset growth than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

25th percentile

-7.9%

Faster revenue growth than 25% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$3,870,894

Down $5,605,389 (-59%) from 2014

Net Assets

Down

-$5,708,320

Down $5,951,835 (-2444%) from 2014

Liabilities

Up

$9,579,214

Up $346,446 (+3.8%) from 2014

Revenue

Down

$3,233,828

Down $277,874 (-7.9%) from 2014

Expenses

Up

$3,779,320

Up $147,781 (+4.1%) from 2014

Net Income

Down

-$545,492

Down $425,655 (-355%) from 2014

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0M-$10MAssets 2011: $393,614Liabilities 2011: $86,613Net Assets 2011: $307,0012011Assets 2012: $10,112,422Liabilities 2012: $9,040,795Net Assets 2012: $1,071,6272012Assets 2013: $9,623,868Liabilities 2013: $9,256,588Net Assets 2013: $367,2802013Assets 2014: $9,476,283Liabilities 2014: $9,232,768Net Assets 2014: $243,5152014Assets 2015: $3,870,894Liabilities 2015: $9,579,214Net Assets 2015: -$5,708,3202015Assets 2016: $3,282,363Liabilities 2016: $8,732,302Net Assets 2016: -$5,449,9392016Assets 2017: $2,801,501Liabilities 2017: $8,713,312Net Assets 2017: -$5,911,8112017

Highlighted filing

2015

Assets$3,870,894
Liabilities$9,579,214
Net Assets-$5,708,320

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $701,5262011Expenses 2012: $1,754,8952012Expenses 2013: $3,199,0072013Revenue 2014: $3,511,702Expenses 2014: $3,631,539Net Income 2014: -$119,8372014Revenue 2015: $3,233,828Expenses 2015: $3,779,320Net Income 2015: -$545,4922015Revenue 2016: $672,941Expenses 2016: $414,561Net Income 2016: $258,3802016Revenue 2017: $218,313Expenses 2017: $680,185Net Income 2017: -$461,8722017

Highlighted filing

2015

Revenue$3,233,828
Expenses$3,779,320
Net Income-$545,492
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 8, 2016
Return Version
2014v6.0
Gross Receipts
$3,233,828
Mission and Program Overview

Mission

To prepare boys for high school

To prepare boys for high school and college success while attending to the unique developmental needs of middle school scholars.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,167,250$2,000,000▼ $5,167,250
Investments Other Securities$1,158,438$1,282,960▲ $124,522
Intangible Assets$437,781--
Cash and Non-Interest-Bearing Accounts$153,568$408,513▲ $254,945
Pledges and Grants Receivable$93,835--
Accounts Receivable$40,647--
Inventories for Sale or Use$5,883--
Total Assets$9,476,283$3,870,894▼ $5,605,389
Other Assets Total$418,881$179,421▼ $239,460
Liabilities
Tax Exempt Bond Liabilities$7,570,000$7,570,000→ $0
Other Liabilities$728,313$759,311▲ $30,998
Accounts Payable and Accrued Expenses$491,955$724,903▲ $232,948
Mortgage Notes Payable Secured by Investment Property$442,500$525,000▲ $82,500
Total Liabilities$9,232,768$9,579,214▲ $346,446
Net Assets / Fund Balance
Temporarily Rstr Net Assets$157,553--
Unrestricted Net Assets$85,962$-5,708,320▼ $5,794,282
Total Net Assets Fund Balance$243,515$-5,708,320▼ $5,951,835
Total Liabilities and Net Assets / Fund Balance$9,476,283$3,870,894▼ $5,605,389

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,000,000-$2,000,000
Other Assets Org$179,421--
Other Securities$1,282,960--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Martha SnyderChair
Ashleigh SmithDirector
Nilsa VelillaDirector
Trudy HamnerDirector
Zoe NelsonSecretary
Shawn WallaceTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$271,983
Program Service Revenue
$2,894,244
Investment Income
$331
Other Revenue
$67,270
All Other Contributions
$7,195
Change in Net Assets
$-545,492

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,233,828
Total Revenue per Audited Statements
$3,233,828
Total Revenue per Form 990
$3,233,828
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,120,750
Other Expenses$1,658,570
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,344,322$371,035$0$1,715,357
Interest$0$610,279$0$610,279
All Other Expenses$168,236$216,318$0$384,554
Depreciation Depletion$239,438$81,829$0$321,267
Other Employee Benefits$174,329$48,185$0$222,514
Payroll Taxes$94,638$26,074$0$120,712
Other Expenses$70,445$0$0$70,445
Pension Plan Contributions$48,739$13,428$0$62,167
Fees for Services Accounting$0$35,935$0$35,935
Occupancy$25,081$6,923$0$32,004
Insurance$0$10,516$0$10,516
Fees for Services Legal$0$9,151$0$9,151
Advertising$0$8,500$0$8,500
Total Functional Expenses$2,209,790$1,569,530$0$3,779,320

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,779,320
Total Expenses per Audited Statements$3,779,320
Total Expenses per Form 990$3,779,320
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
Refundable Advance$728,313
Due to Related Schools$30,998

Bond Issues

BondIssuerIssuedIssue PricePurpose
AThe IDA of the City of Phoenix AZ2012-03-29$7,570,000Purchase of Education Facility

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----
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
Yes
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
Filing and Contact Details

Filer

Filer Name
Brighter Choice Charter Middle School for Boys
EIN
27-1663553
Phone
5187036100
Address
395 Elk Street, Albany, NY 12206

Signing Officer

Name
Martha Snyder
Title
Chair
Phone
5187036100
Signed
2016-02-08
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
28
Volunteers
5

Preparer

Firm
Cusack & Company CPAs LLC
Address
7 Airport Park Blvd, Latham, NY 12110
Preparer
John a Criscone CPA
Phone
5187863550
Supplemental Narrative

Additional Explanations

Pt XI

Impairment of net assets, entity in liquidation basis of accounting.

Pt VI, Line 11B

The Form 990 is presented to the Board prior to filing

Pt VI, Line 12C

The Organization regularly monitors it's conflict of interest policy.

Pt VI, Line 19

The Organization's governing documents, financial statements and form 990 are available upon request and also through Guidestar.

Pt VI, Line 15A

The Principal and Business Manager are hired by the Board. Each of these employees is interviewed by the Board, or a committee of the board. The principal is evaluated annually and compensation is based on prior year perofrmance.

Form 990, Part IX, Line 24F

Field trips 12158. 12158. 0. 0. Leased equipment 5844. 0. 5844. 0. Maintenance & repairs 24564. 19251. 5313. 0. Supplies 66596. 32807. 33789. 0. Student services 1871. 1871. 0. 0. Student uniforms 10626. 10626. 0. 0. Student testing 13616. 13616. 0. 0. Staff development 1432. 378. 1054. 0. Telephone 11899. 0. 11899. 0. Bad debt expense 158419. 0. 158419. 0. Minor equipment 19695. 19695. 0. 0. Transportation 57834. 57834. 0. 0.

Financial Statement Notes

Pt X, Line 2

Management is not aware of any events that could jeopardize the school's tax-exempt status. Therefore, no liability or provision for income tax has been reflected in the financial statements

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IRS990/PYTotalRevenueAmt03511702
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-545492
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt052020
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01293644
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt03779320
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt02000000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02000000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0179421
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Due From School Districts
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Due From Related Schools
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0728313
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt130998
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Refundable Advance
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Due to Related Schools
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01282960
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Bond Trust Accounts
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/RevenueSubtotalAmt03233828
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Management is not aware of any events that could jeopardize the school's tax-exempt status. Therefore, no liability or provision for income tax has been reflected in the financial statements
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt X, Line 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02000000
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0179421
IRS990ScheduleD/TotalBookValueSecuritiesAmt01282960
IRS990ScheduleD/TotalExpensesPerForm990Amt03779320
IRS990ScheduleD/TotalLiabilityAmt0759311
IRS990ScheduleD/TotalRevenuePerForm990Amt03233828
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03233828
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03779320
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY IS PUBLICIZED IN THE NEWSPAPER AND ON THE WEBSITE. RACIALLY NONDISRIMINATORY POLICY IN NEWSPAERS AND WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THIS IS FOR LINE 6A: THE ORGANIZATION RECEIVES TITLE I AND II GRANTS, AS WELL AS AID FOR SCHOOL LUNCH PROGRAMS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02012-03-29
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0522038405
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum071885FBA4
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt07570000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0The IDA of the City of Phoenix AZ
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0Purchase of Education Facility
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Impairment of net assets, entity in liquidation basis of accounting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is presented to the Board prior to filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization regularly monitors it's conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization's governing documents, financial statements and form 990 are available upon request and also through Guidestar.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Principal and Business Manager are hired by the Board. Each of these employees is interviewed by the Board, or a committee of the board. The principal is evaluated annually and compensation is based on prior year perofrmance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FIELD TRIPS 12158. 12158. 0. 0. LEASED EQUIPMENT 5844. 0. 5844. 0. MAINTENANCE & REPAIRS 24564. 19251. 5313. 0. SUPPLIES 66596. 32807. 33789. 0. STUDENT SERVICES 1871. 1871. 0. 0. STUDENT UNIFORMS 10626. 10626. 0. 0. STUDENT TESTING 13616. 13616. 0. 0. STAFF DEVELOPMENT 1432. 378. 1054. 0. TELEPHONE 11899. 0. 11899. 0. BAD DEBT EXPENSE 158419. 0. 158419. 0. MINOR EQUIPMENT 19695. 19695. 0. 0. TRANSPORTATION 57834. 57834. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24f
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd2true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0No
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1No
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt2No
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Brighter Choice Charter Middle School for Girls
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Brighter Choice Charter School for Girls
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2Brighter Choice Charter School for Boys
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0271663488
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1141830896
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2141830897
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt03
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt13
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt23
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt02
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt12
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt22
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0395 Elk Street

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