Civic Intelligence

First State Montessori Academy Inc.

990 • Fiscal year 2014 • EIN 27-3480706

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 15, 2015

1000 North French Street19801

(302) 576-1500

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

98th percentile

86%

Higher net margin than 98% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

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

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

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

Source year 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Assets

$288,227

No earlier filing loaded for comparison.

Net Assets

$288,227

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$328,444

No earlier filing loaded for comparison.

Expenses

$44,591

No earlier filing loaded for comparison.

Net Income

$283,853

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2014: $288,227Liabilities 2014: $0Net Assets 2014: $288,2272014Assets 2015: $1,472,027Liabilities 2015: $335,581Net Assets 2015: $1,136,4462015Assets 2016: $2,627,552Liabilities 2016: $987,866Net Assets 2016: $1,639,6862016Assets 2017: $3,372,559Liabilities 2017: $1,803,275Net Assets 2017: $1,569,2842017Assets 2018: $8,151,679Liabilities 2018: $13,768,029Net Assets 2018: -$5,616,3502018Assets 2019: $9,685,865Liabilities 2019: $16,002,242Net Assets 2019: -$6,316,3772019Assets 2020: $25,895,465Liabilities 2020: $33,385,028Net Assets 2020: -$7,489,5632020Assets 2021: $28,716,404Liabilities 2021: $38,007,794Net Assets 2021: -$9,291,3902021Assets 2022: $29,682,717Liabilities 2022: $40,315,101Net Assets 2022: -$10,632,3842022Assets 2023: $26,634,875Liabilities 2023: $38,086,402Net Assets 2023: -$11,451,5272023Assets 2024: $26,724,465Liabilities 2024: $38,099,389Net Assets 2024: -$11,374,9242024

Highlighted filing

2014

Assets$288,227
Liabilities$0
Net Assets$288,227

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2014: $328,444Expenses 2014: $44,591Net Income 2014: $283,8532014Revenue 2015: $3,793,858Expenses 2015: $3,005,257Net Income 2015: $788,6012015Revenue 2016: $4,295,716Expenses 2016: $3,792,476Net Income 2016: $503,2402016Revenue 2017: $5,707,649Expenses 2017: $5,778,051Net Income 2017: -$70,4022017Revenue 2018: $7,149,941Expenses 2018: $7,720,789Net Income 2018: -$570,8482018Revenue 2019: $7,873,955Expenses 2019: $8,573,982Net Income 2019: -$700,0272019Revenue 2020: $9,632,202Expenses 2020: $10,805,388Net Income 2020: -$1,173,1862020Revenue 2021: $8,779,589Expenses 2021: $10,581,416Net Income 2021: -$1,801,8272021Revenue 2022: $9,183,891Expenses 2022: $10,524,885Net Income 2022: -$1,340,9942022Revenue 2023: $10,249,424Expenses 2023: $11,068,567Net Income 2023: -$819,1432023Revenue 2024: $10,997,947Expenses 2024: $10,921,344Net Income 2024: $76,6032024

Highlighted filing

2014

Revenue$328,444
Expenses$44,591
Net Income$283,853
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 15, 2015
Return Version
2013v4.0
Gross Receipts
$328,444
Mission and Program Overview

Mission

The mission of the first state montessori academy is to create successful, contributing, life-long learners in a montessori public educational program for students in kindergarten through 8th grade.

Fsma is an approved delaware charter school. The organization obtained a leased building, made renovations, and hired a head of school in fiscal year 2013. The school opened in august 2014 serving grades k through 6.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$4,374$288,227▲ $283,853
Land, Buildings, and Equipment, Net$0$257,235▲ $257,235
Cash and Non-Interest-Bearing Accounts$4,374$30,992▲ $26,618
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$4,374$288,227▲ $283,853
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,374$288,227▲ $283,853
Total Liabilities and Net Assets / Fund Balance$4,374$288,227▲ $283,853

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$257,235-$257,235
Compensation and Service Providers

Board Members and Trustees

NameTitle
Gregg MoistBod Chair
Beth CarterBod Member
Erin CarrollBod Member
Gina CastelliBod Member
Heather TownsendBod Member
Hunter Clark-fieldsBod Member
Katie MccormickBod Member
Laura MessingerBod Member
Veena RaoBod Member
Yvonne NassBod Member
Corey LambornBod Secretary
Jessie KeithBod Secretary
Sean BoydBod Treasurer
Courtney FoxHead of School
Revenue and Support

Revenue Composition

Contributions and Grants
$328,444
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$327,211
Change in Net Assets
$283,853
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,883
Other Expenses$17,708
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$25,374-$25,374
Advertising$9,363--$9,363
Office Expenses$4,541--$4,541
Fees for Services Management-$2,525-$2,525
Payroll Taxes-$1,509-$1,509
Other Expenses$630--$630
Total Functional Expenses$15,183$29,408$0$44,591
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Courtney FoxFormer Bod ChairHired as Head of SchoolNo$25,374
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with family members
No
Business relationship with organization members
Yes
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 A, line 2

Sean boyd and kathleen mccormick had a family relationship.

Form 990, Part VI, Section B, line 11

Copies of form 990 are provided to all board members and reviewed in a board of directors meeting.

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

Board members must disclose all actual or potential conflicts of interest during board meetings.

Form 990, Part VI, Section B, line 15

Compensation was based on average compensation data for equivalent positions in delaware charter schools and set at 10% less than a local public school district.

Form 990, Part VI, Section C, line 19

The academy's governing documents, conflict of interest policy and financial statements are available on its website.

Filing and Contact Details

Filer

EIN
27-3480706
Phone
3025761500

Signing Officer

Name
Sean Boyd
Title
Treasurer
Phone
3025761500
Signed
2015-02-15

Organization Details

Principal Officer
Gregg Moist
Formed
2009
Legal Domicile
De
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
40

Preparer

Preparer
Jeffrey a Kowalczyk CPA
Phone
3024788940
Supplemental Narrative

Additional Explanations

Form 990, Part III, line 2

Fsma's sole goal in the fiscal year was to open a k-6 grade charter school in august 2014. The activities included: 1. Raising start-up funds from foundations and other donors; 2. Hiring a head of school and beginning the hiring processes for school staff; 3. Executing a student enrollment program; 4. Securing a school building and completing required renovations; 5. Initiating pre-opening school operations that included: acquiring school materials and curriculum as well as hiring a management company to help the organization with human resources services (set up hr files) and the hiring process. School curriculum was written and submitted to the delaware department of education.

Raw XML Appendix399 raw XML fields

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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0257235
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0257235
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0257235
IRS990ScheduleE/ComplianceWithRevProc7550Ind00
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY IS A DELAWARE PUBLIC CHARTER SCHOOL. THE DELAWARE PUBLIC NONDISCRIMINATORY POLICY, UNDERWHICH THE ACADEMY FALLS, IS PUBLISHED BY THE STATE OF DELAWARE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL IS PUBLIC AND FREE TO THE PUBLIC. THEREFORE NO SCHOLARSHIPS OR OTHER FINANCIAL ASSISTANCE ARE AWARDED.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ACADEMY IS A PUBLIC SCHOOL AND, THEREFORE, IS EXEMPT FROM REV. PROC. 75-50.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Part I, Line 7
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0COURTNEY FOX
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0FORMER BOD CHAIR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt025374
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0HIRED AS HEAD OF SCHOOL
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0COURTNEY FOX WAS THE BOARD OF DIRECTORS CHAIR; SHE RESIGNED AND THEN WAS HIRED AS THE HEAD OF SCHOOL BY THE BOARD OF DIRECTORS. SHE EXCLUDED HERSELF FROM ANY VOTING ON THE HEAD OF SCHOOL POSITION. THE COMPENSATION TO COURTNEY WAS NOT A SINGLE TRANSACTION, BUT WAS A SALARY THAT STARTED IN APRIL 2014, AFTER SHE HAD RESIGNED FROM THE BOARD OF DIRECTORS.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 1
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FSMA'S SOLE GOAL IN THE FISCAL YEAR WAS TO OPEN A K-6 GRADE CHARTER SCHOOL IN AUGUST 2014. THE ACTIVITIES INCLUDED: 1. RAISING START-UP FUNDS FROM FOUNDATIONS AND OTHER DONORS; 2. HIRING A HEAD OF SCHOOL AND BEGINNING THE HIRING PROCESSES FOR SCHOOL STAFF; 3. EXECUTING A STUDENT ENROLLMENT PROGRAM; 4. SECURING A SCHOOL BUILDING AND COMPLETING REQUIRED RENOVATIONS; 5. INITIATING PRE-OPENING SCHOOL OPERATIONS THAT INCLUDED: ACQUIRING SCHOOL MATERIALS AND CURRICULUM AS WELL AS HIRING A MANAGEMENT COMPANY TO HELP THE ORGANIZATION WITH HUMAN RESOURCES SERVICES (SET UP HR FILES) AND THE HIRING PROCESS. SCHOOL CURRICULUM WAS WRITTEN AND SUBMITTED TO THE DELAWARE DEPARTMENT OF EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SEAN BOYD AND KATHLEEN MCCORMICK HAD A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPIES OF FORM 990 ARE PROVIDED TO ALL BOARD MEMBERS AND REVIEWED IN A BOARD OF DIRECTORS MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS MUST DISCLOSE ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST DURING BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION WAS BASED ON AVERAGE COMPENSATION DATA FOR EQUIVALENT POSITIONS IN DELAWARE CHARTER SCHOOLS AND SET AT 10% LESS THAN A LOCAL PUBLIC SCHOOL DISTRICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ACADEMY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
IRS990/StatesWhereCopyOfReturnIsFldCd0DE
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04374
IRS990/TotalAssetsEOYAmt0288227
IRS990/TotalAssetsGrp/BOYAmt04374
IRS990/TotalAssetsGrp/EOYAmt0288227
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0328444
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt029408
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt015183
IRS990/TotalFunctionalExpensesGrp/TotalAmt044591
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04374
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0288227
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt015183
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0328444
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt040
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04374
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0288227
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101000 NORTH FRENCH STREET
IRS990/USAddress/City0WILMINGTON
IRS990/USAddress/State0DE
IRS990/USAddress/ZIPCode019801
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.FIRSTSTATEMONTESSORI.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/PersonNm0SEAN BOYD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03025761500
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-02-15
ReturnHeader/Filer/BusinessName/BusinessNameLine10FIRST STATE MONTESSORI ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0273480706
ReturnHeader/Filer/PhoneNum03025761500
ReturnHeader/Filer/USAddress/AddressLine101000 NORTH FRENCH STREET
ReturnHeader/Filer/USAddress/City0WILMINGTON
ReturnHeader/Filer/USAddress/State0DE
ReturnHeader/Filer/USAddress/ZIPCode019801
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0510229493
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10BARBACANE THORNTON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10200 SPRINGER BLDG 3411 SILVERSIDE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine20RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0WILMINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0DE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0198104866
ReturnHeader/PreparerPersonGrp/PhoneNum03024788940
ReturnHeader/PreparerPersonGrp/PreparationDt02015-02-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY A KOWALCZYK CPA
ReturnHeader/ReturnTs02015-02-15T20:03:14-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

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