Civic Intelligence

Brighter Choice Charter Middle School for Boys

990 • Fiscal year 2016 • EIN 27-1663553

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

Organization Profilewww.brighterchoice.org
250 Central AvenueAlbany, 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

2.66x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

12.98x

Higher debt load relative to revenue than 98% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

89th percentile

38%

Higher net margin than 89% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

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.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

8th percentile

-15%

Faster asset growth than 8% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

2nd percentile

-79%

Faster revenue growth than 2% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$3,282,363

Down $588,531 (-15%) from 2015

Net Assets

Up

-$5,449,939

Up $258,381 (+4.5%) from 2015

Liabilities

Down

$8,732,302

Down $846,912 (-8.8%) from 2015

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin89th percentile

Revenue

Down

$672,941

Down $2,560,887 (-79%) from 2015

Expenses

Down

$414,561

Down $3,364,759 (-89%) from 2015

Net Income

Up

$258,380

Up $803,872 (+147%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

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

2016

Assets$3,282,363
Liabilities$8,732,302
Net Assets-$5,449,939
Open 2016 Filing

Operations Trend

Revenue Growth2nd percentile

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

2016

Revenue$672,941
Expenses$414,561
Net Income$258,380
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 8, 2016
Return Version
2015v2.1
Gross Receipts
$672,941
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$2,000,000$1,933,333▼ $66,667
Investments Other Securities$1,282,960$1,206,052▼ $76,908
Cash and Non-Interest-Bearing Accounts$408,513$115,792▼ $292,721
Total Assets$3,870,894$3,282,363▼ $588,531
Other Assets Total$179,421$27,186▼ $152,235
Liabilities
Tax Exempt Bond Liabilities$7,570,000$7,535,000▼ $35,000
Other Liabilities$759,311$728,312▼ $30,999
Mortgage Notes Payable Secured by Investment Property$525,000$450,000▼ $75,000
Accounts Payable and Accrued Expenses$724,903$18,990▼ $705,913
Total Liabilities$9,579,214$8,732,302▼ $846,912
Net Assets / Fund Balance
Unrestricted Net Assets$-5,708,320$-5,449,939▲ $258,381
Total Net Assets Fund Balance$-5,708,320$-5,449,939▲ $258,381
Total Liabilities and Net Assets / Fund Balance$3,870,894$3,282,363▼ $588,531

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,933,333$66,667$2,000,000
Other Assets Org$27,186--
Other Securities$1,206,052--
Compensation and Service Providers
Top Officer Pay35th percentile

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
$0
Program Service Revenue
$172,830
Investment Income
$111
Other Revenue
$500,000
Change in Net Assets
$258,380
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$414,561
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$282,563$0$0$282,563
Depreciation Depletion$66,667$0$0$66,667
Fees for Services Legal$24,059$0$0$24,059
Other Expenses$8,313$0$0$8,313
Office Expenses$6,011$0$0$6,011
Fees for Services Other$5,371$0$0$5,371
Total Functional Expenses$414,561$0$0$414,561
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$728,312
Due to Related Schools-

Bond Issues

BondIssuerIssuedIssue PricePurpose
AThe IDA of the City of Phoenix AZ2012-03-29$7,535,000Purchase 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
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
250 Central Avenue, Albany, NY 12206

Signing Officer

Name
Martha Snyder
Title
Chair
Phone
5187036100
Signed
2016-11-08
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
5

Preparer

Firm
Cusack & Company CPAs LLC
Address
7 Airport Park Blvd, Latham, NY 12110
Preparer
Kenneth B Claflin
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.”

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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THIS IS FOR LINE 6A: THE ORGANIZATION RECEIVES TITLE I AND II GRANTS, AS WELL AS AID FOR SCHOOL LUNCH PROGRAMS.
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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/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
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
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1250 Central Avenue
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2116 North Lake Avenue
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Albany
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Albany
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2Albany
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd2NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd012206
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd112206
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd212206
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0true
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt07570000
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt07535000
IRS990/TaxExemptBondsInd0true
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03870894
IRS990/TotalAssetsEOYAmt03282363
IRS990/TotalAssetsGrp/BOYAmt03870894
IRS990/TotalAssetsGrp/EOYAmt03282363
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0414561
IRS990/TotalFunctionalExpensesGrp/TotalAmt0414561
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09579214
IRS990/TotalLiabilitiesEOYAmt08732302
IRS990/TotalLiabilitiesGrp/BOYAmt09579214
IRS990/TotalLiabilitiesGrp/EOYAmt08732302
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-5708320
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-5449939
IRS990/TotalProgramServiceExpensesAmt0414561
IRS990/TotalProgramServiceRevenueAmt0172830
IRS990/TotalRevenueGrp/ExclusionAmt0111
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0672830
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0672941
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03870894
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03282363
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-5708320
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-5449939
IRS990/UponRequestInd0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$3,282,363
Liabilities
$8,732,302
Net assets
-$5,449,939
Revenue
$672,941
Expenses
$414,561
Net income
$258,380
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$2.80$8.71$5.91$0.22$0.68$0.46
2016Detailed filing. Detailed filing data is available for this year.$3.28$8.73$5.45$0.67$0.41$0.26
2015Detailed filing. Detailed filing data is available for this year.$3.87$9.58$5.71$3.23$3.78$0.55
2014Detailed filing. Detailed filing data is available for this year.$9.48$9.23$0.24$3.51$3.63$0.12
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.62$9.26$0.37$3.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.1$9.04$1.07$1.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.39$0.09$0.31$0.70