Civic Intelligence

Mastery Charter School - Smedley Elementary

990 • Fiscal year 2016 • EIN 27-2575502

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 07, 2017

5700 Wayne AvenuePhiladelphia, PA 19144

(215) 866-9000

Siviq Scores

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

Liabilities / Assets

99th percentile

3.10x

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

85th percentile

1.47x

Higher debt load relative to revenue than 85% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

27th percentile

-4.9%

Higher net margin than 27% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

22nd percentile

-4.0%

Faster asset growth than 22% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2016

Revenue Growth

39th percentile

-0.6%

Faster revenue growth than 39% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2016

Assets

Down

$4,527,922

Down $385,747 (-7.9%) from 2014

Net Assets

Down

-$9,490,640

Down $13,124,402 (-361%) from 2014

Liabilities

Up

$14,018,562

Up $12,738,655 (+995%) from 2014

Revenue

Down

$9,513,760

Down $113,137 (-1.2%) from 2014

Expenses

Up

$9,975,401

Up $601,827 (+6.4%) from 2014

Net Income

Down

-$461,641

Down $714,964 (-282%) from 2014

Historical Trend

Balance Sheet Trend

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

$20M$10M$0-$10MAssets 2011: $4,019,736Liabilities 2011: $2,621,187Net Assets 2011: $1,398,5492011Assets 2012: $5,430,726Liabilities 2012: $2,416,012Net Assets 2012: $3,014,7142012Assets 2013: $4,876,597Liabilities 2013: $1,496,156Net Assets 2013: $3,380,4412013Assets 2014: $4,913,669Liabilities 2014: $1,279,907Net Assets 2014: $3,633,7622014Assets 2016: $4,527,922Liabilities 2016: $14,018,562Net Assets 2016: -$9,490,6402016Assets 2017: $6,007,827Liabilities 2017: $15,212,691Net Assets 2017: -$9,204,8642017Assets 2018: $5,829,525Liabilities 2018: $14,098,370Net Assets 2018: -$8,268,8452018Assets 2019: $5,887,241Liabilities 2019: $13,146,755Net Assets 2019: -$7,259,5142019Assets 2020: $6,271,624Liabilities 2020: $12,319,795Net Assets 2020: -$6,048,1712020Assets 2021: $7,798,358Liabilities 2021: $11,575,807Net Assets 2021: -$3,777,4492021Assets 2022: $9,574,548Liabilities 2022: $10,911,025Net Assets 2022: -$1,336,4772022

Highlighted filing

2016

Assets$4,527,922
Liabilities$14,018,562
Net Assets-$9,490,640

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $6,180,5182011Expenses 2012: $7,627,6312012Expenses 2013: $9,102,6862013Revenue 2014: $9,626,897Expenses 2014: $9,373,574Net Income 2014: $253,3232014Revenue 2016: $9,513,760Expenses 2016: $9,975,401Net Income 2016: -$461,6412016Revenue 2017: $10,268,436Expenses 2017: $9,982,660Net Income 2017: $285,7762017Revenue 2018: $11,231,278Expenses 2018: $9,820,259Net Income 2018: $1,411,0192018Revenue 2019: $12,548,094Expenses 2019: $11,538,763Net Income 2019: $1,009,3312019Revenue 2020: $13,287,202Expenses 2020: $12,075,859Net Income 2020: $1,211,3432020Revenue 2021: $13,860,660Expenses 2021: $11,589,938Net Income 2021: $2,270,7222021Revenue 2022: $16,285,850Expenses 2022: $13,844,878Net Income 2022: $2,440,9722022

Highlighted filing

2016

Revenue$9,513,760
Expenses$9,975,401
Net Income-$461,641
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 7, 2017
Return Version
2015v3.0
Gross Receipts
$9,513,760
Mission and Program Overview

Mission

All students learn the academic and personal skills they need to be truly prepared for postsecondary success and able to pursue their dreams.

Operation of a charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,166,376$2,424,196▲ $257,820
Land, Buildings, and Equipment, Net$1,079,378$856,177▼ $223,201
Pledges and Grants Receivable$173,975$342,325▲ $168,350
Prepaid Expenses and Deferred Charges$20,732$105,364▲ $84,632
Accounts Receivable$42,959$87,958▲ $44,999
Cash and Non-Interest-Bearing Accounts$681,361$3,902▼ $677,459
Total Assets$4,804,918$4,527,922▼ $276,996
Other Assets Total$640,137$708,000▲ $67,863
Liabilities
Other Liabilities$12,336,885$12,324,801▼ $12,084
Accounts Payable and Accrued Expenses$1,374,404$1,608,500▲ $234,096
Mortgage Notes Payable Secured by Investment Property$114,046$85,261▼ $28,785
Deferred Revenue$8,580--
Total Liabilities$13,833,915$14,018,562▲ $184,647
Net Assets / Fund Balance
Unrestricted Net Assets$-9,028,997$-9,490,640▼ $461,643
Total Net Assets Fund Balance$-9,028,997$-9,490,640▼ $461,643
Total Liabilities and Net Assets / Fund Balance$4,804,918$4,527,922▼ $276,996

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$599,353$2,292,449$2,891,802
Equipment$156,574$565,919$722,493
Other Land Buildings$100,250$339,874$440,124
Other Assets Org$708,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Caitlin MurpheyPrincipalFT$116,771$32,786$149,557

Board Members and Trustees

NameTitle
Robert VictorChair
Donald KimelmanBoard Member
Gerry EmeryBoard Member
Graham FinneyBoard Member
Tony PaytonBoard Member
Molly EigenChief Academic Officer
Scott GordonChief Executive Officer
Yonca AgatanChief Financial Officer
Courtney Collins-shapiroChief Innovation Officer
Joe FergusonChief Operating Officer
Jeff PestrakExecutive Schools Officer
Robin Lynn OlanrewajuSecretary
Charles CorpeningTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Linton's Managed ServicesFood Preparation Services2947 FELTON ROAD, East Norriton, PA 19401$430,896
Cora's Services INCEducational Services8540 CERREE ROAD, Philadelphia, PA 19111$300,833
The Camelot Schools Of Pa LLCEducational Services7500 RIALTO BLVD BLDG 1 SUITE 260, Austin, TX 78735$230,229
Delta T GroupSubstitute Teachers, Teacher AidesPO BOX 884, Bryn Mawr, PA 19010$122,243
Gca Sevrices GroupCleaning ServicesPO BOX 643823, Pittsburgh, PA 15264$105,936
Revenue and Support

Revenue Composition

Contributions and Grants
$1,369,087
Program Service Revenue
$8,107,500
Investment Income
$5,863
Other Revenue
$31,310
All Other Contributions
$13,643
Change in Net Assets
$-461,641

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,513,760
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$9,513,760
Total Revenue per Form 990
$9,513,760
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,695,872
Other Expenses$3,279,529
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,325,976$292,123-$4,618,099
Other Employee Benefits$772,887$63,541-$836,428
Fees for Services Other$723,209$8,658-$731,867
Pension Plan Contributions$591,539$134,585-$726,124
Fees for Services Management-$684,983-$684,983
Payroll Taxes$339,244$24,777-$364,021
Occupancy$356,340--$356,340
Depreciation Depletion$297,459--$297,459
Travel$192,099--$192,099
Current Officers, Directors, Trustees, and Key Employees$101,305$49,895-$151,200
Office Expenses$82,828$30,733-$113,561
Information Technology$91,477--$91,477
All Other Expenses$70,058$764-$70,822
Insurance-$36,990-$36,990
Other Expenses$22,740$544-$23,284
Interest$4,456--$4,456
Fees for Services Legal-$-8,560-$-8,560
Total Functional Expenses$8,656,368$1,319,033$0$9,975,401

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,975,401
Total Expenses per Audited Statements$9,975,401
Total Expenses per Form 990$9,975,401
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$11,132,000
Deferred Inflow - Gasb 68$1,190,378
Due to Other Government Funds$2,423
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
Yes
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, Part VI, Section B, Line 11

The ceo and board of directors review the 990 before it is submitted to the irs

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

Employees may not receive any material gain from individuals or activities outside of mastery charter schools for materials produced or services rendered while performing their jobs. Board members are also covered by a conflict of interest policy. Board members also provide statements of financial interest on an annual basis, which would disclose any conflicts.

Form 990, Part VI, Section B, Line 15

Officer compensation is reviewed and approved annually by the board of directors. A compensation committee uses survey data and information from comparable organizations' form 990 to analyze and compare ceo compensation and make recommendations to the board for its approval.

Form 990, Part VI, Section C, Line 19

Mastery charter school smedley elementary's governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Mastery Charter School -
EIN
27-2575502
Phone
2158669000
Address
5700 WAYNE AVENUE, PHILADELPHIA, PA 19144

Signing Officer

Name
Scott Gordon
Title
CEO
Phone
2158669000
Signed
2017-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Gordon
Formed
2010
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
7
Employees
102
Volunteers
7

Preparer

Firm
Cliftonlarsonallen Llp
Address
610 W GERMANTOWN PIKE STE 400, PLYMOUTH MEETING, PA 19462
Preparer
Dave Sekerak
Phone
2156433900
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The finance committee of the board of directors assumes responsibility for oversight of the annual audit.

Financial Statement Notes

PART X, LINE 2:

The school is exempt from federal income taxes under section 501(c)(3) of the internal revenue service code. No provision for income taxes has been established, as the school has no unrelated business activity.

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IRS990/Desc0MASTERY SCHOOLS INTEGRATES EDUCATIONAL BEST PRACTICES AND EFFECTIVE MANAGEMENT TO DRIVE STUDENT ACHIEVEMENT. OUR ACADEMIC STAFF IS OUTSTANDING AND RELENTLESSLY COMMITTED TO STUDENT ACHIEVEMENT AND CONTINUALLY IMPROVE THEIR CRAFT THROUGH HIGHLY-EFFECTIVE PROFESSIONAL DEVELOPMENT, COACHING, AND COLLABORATIVE SUPPORT. INSTRUCTION IS GROUNDED BY A COMMON PEDAGOGICAL VISION AND GUIDED BY RIGOROUS STANDARDS-BASED CURRICULA. WE ALIGN ASSESSMENTS TO CLEAR AND MEANINGFUL OBJECTIVES AND USE ASSESSMENT DATA TO TARGET AREAS OF NEED. IN JANUARY 2014, MASTERY INITIATED A COMPREHENSIVE REDESIGN OF OUR PROGRAM MODEL, CALLED MASTERY 3.0. THE REDESIGN EVOLVES OUR CURRICULAR, INSTRUCTIONAL, AND SCHOOL CULTURE PRACTICES IN ORDER TO ACCELERATE THE DEVELOPMENT OF OUR STUDENTS' CRITICAL THINKING AND INDEPENDENCE.
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOW - GASB 68

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