Civic Intelligence

Excel Academy East Boston Realty Corporation

990 • Fiscal year 2016 • EIN 27-4272913

Jan 01, 2016 to Dec 31, 2016 • Filed on Mar 17, 2017

58 Moore StreetEast Boston, MA 02128

(617) 874-4096

Siviq Scores

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

Liabilities / Assets

90th percentile

0.93x

Higher debt load relative to assets than 90% of similar nonprofits.

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

Liabilities / Revenue

99th percentile

35.96x

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

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

Net Margin

58th percentile

4.6%

Higher net margin than 58% of similar nonprofits.

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

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

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

Asset Growth

44th percentile

0.3%

Faster asset growth than 44% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

40th percentile

-0.2%

Faster revenue growth than 40% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Up

$9,121,242

Up $23,778 (+0.3%) from 2015

Net Assets

Up

$645,000

Up $10,862 (+1.7%) from 2015

Liabilities

Up

$8,476,242

Up $12,916 (+0.2%) from 2015

Revenue

Down

$235,714

Down $376 (-0.2%) from 2015

Expenses

Up

$224,852

Up $555 (+0.2%) from 2015

Net Income

Down

$10,862

Down $931 (-7.9%) from 2015

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $9,408,600Liabilities 2011: $8,770,194Net Assets 2011: $638,4062011Assets 2012: $9,756,035Liabilities 2012: $9,141,023Net Assets 2012: $615,0122012Assets 2013: $9,190,791Liabilities 2013: $8,574,434Net Assets 2013: $616,3572013Assets 2014: $9,085,671Liabilities 2014: $8,463,326Net Assets 2014: $622,3452014Assets 2015: $9,097,464Liabilities 2015: $8,463,326Net Assets 2015: $634,1382015Assets 2016: $9,121,242Liabilities 2016: $8,476,242Net Assets 2016: $645,0002016Assets 2017: $9,000,795Liabilities 2017: $8,345,000Net Assets 2017: $655,7952017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2016

Assets$9,121,242
Liabilities$8,476,242
Net Assets$645,000

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2011: $3,0552011Expenses 2012: $89,7372012Revenue 2013: $225,479Expenses 2013: $224,134Net Income 2013: $1,3452013Revenue 2014: $229,961Expenses 2014: $223,973Net Income 2014: $5,9882014Revenue 2015: $236,090Expenses 2015: $224,297Net Income 2015: $11,7932015Revenue 2016: $235,714Expenses 2016: $224,852Net Income 2016: $10,8622016Revenue 2017: $236,174Expenses 2017: $225,379Net Income 2017: $10,7952017Revenue 2018: $178,161Expenses 2018: $185,542Net Income 2018: -$7,3812018

Highlighted filing

2016

Revenue$235,714
Expenses$224,852
Net Income$10,862
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Mar 17, 2017
Return Version
2016v3.0
Gross Receipts
$235,714
Mission and Program Overview

Mission

The corporation is organized exclusively for charitable activities benefiting, performing the functions of, and carrying out the purposes of friends of excel academy charter schools, inc., a massachusetts non-profit corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$184,166$121,962▼ $62,204
Cash and Non-Interest-Bearing Accounts$52,805$68,793▲ $15,988
Total Assets$9,097,464$9,121,242▲ $23,778
Other Assets Total$8,860,493$8,930,487▲ $69,994
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,245,000$8,245,000→ $0
Other Liabilities$218,326$218,326→ $0
Deferred Revenue-$12,916-
Total Liabilities$8,463,326$8,476,242▲ $12,916
Net Assets / Fund Balance
Unrestricted Net Assets$634,138$645,000▲ $10,862
Total Net Assets Fund Balance$634,138$645,000▲ $10,862
Total Liabilities and Net Assets / Fund Balance$9,097,464$9,121,242▲ $23,778

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$361,810--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Seth ReynoldsPresident Starting 12/20/16
Kathryn BuekerPresident Through 12/19/16
Mary Elisabeth SwerzCLERK STARTING 12/20/16;TREASURER THROUGH 12/19/16
Douglas ChopeClerk Through 12/19/16
Megan PreinerTreasurer Starting 12/20/16
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$235,714
Other Revenue
$0
Change in Net Assets
$10,862

Audited Revenue Reconciliation

Revenue per Audited Statements
$235,714
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$235,714
Total Revenue per Form 990
$235,714
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$224,852
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$193,519--$193,519
Fees for Services Accounting-$10,839-$10,839
Depreciation Depletion$10,424--$10,424
Fees for Services Other-$10,070-$10,070
Total Functional Expenses$203,943$20,909$0$224,852

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$224,852
Total Expenses per Audited Statements$224,852
Total Expenses per Form 990$224,852
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
Due to Related Parties$218,326
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
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, Part VI, Section B, Line 11B

The form 990 is presented to the board of trustees for review and comment prior to filing.

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

The board of trustees annually review the conflict of interest policy.

Form 990, Part VI, Section C, Line 19

Excel academy east boston realty corporation makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Excel Academy East Boston Realty
EIN
27-4272913
Phone
6178744096
Address
58 MOORE STREET, EAST BOSTON, MA 02128

Signing Officer

Name
Megan Preiner
Title
Treasurer
Phone
6175611371
Signed
2017-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Megan Preiner
Formed
2011
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Alexander Aronson Finning & Co Pc
Address
21 EAST MAIN STREET, WESTBOROUGH, MA 01581
Preparer
John Buckley CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The board of trustees oversees the audit of the financial statements. This process has not changed in 2015.

Financial Statement Notes

PART X, LINE 2:

The company accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the financial statements regarding a tax position taken or expected to be taken in a tax return. The company has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the financial statements at december 31, 2016. The company's information returns are subject to examination by the federal and state jurisdictions and generally remain open for the most recent three years.

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PRESENTED TO THE BOARD OF TRUSTEES FOR REVIEW AND COMMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF TRUSTEES ANNUALLY REVIEW THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXCEL ACADEMY EAST BOSTON REALTY CORPORATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF TRUSTEES OVERSEES THE AUDIT OF THE FINANCIAL STATEMENTS. THIS PROCESS HAS NOT CHANGED IN 2015.
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1EXCEL ACADEMY BREMEN STREET REALTY CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0300211613
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1TO SUPPORT FRIENDS OF EXCEL ACADEMY CHARTER SCHOOLS, INC.
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
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IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0FRIENDS OF EXCEL ACADEMY INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1FRIENDS OF EXCEL ACADEMY INC
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0634138
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0645000
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IRS990/TotalProgramServiceExpensesAmt0203943
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IRS990/TotalRevenueGrp/ExclusionAmt0235714
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0235714
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09121242
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0634138
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0645000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt058 MOORE STREET
IRS990/USAddress/CityNm0EAST BOSTON
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002128
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MEGAN PREINER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06175611371
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-03-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EXCEL ACADEMY EAST BOSTON REALTY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0EXCE
ReturnHeader/Filer/EIN0274272913
ReturnHeader/Filer/PhoneNum06178744096
ReturnHeader/Filer/USAddress/AddressLine1Txt058 MOORE STREET
ReturnHeader/Filer/USAddress/CityNm0EAST BOSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002128
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0A41C22E49F3662F41C161EC2A09466C92AFD8034
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0E389E89C54D8B2D0E67DFD5473BAB8CDEAF766EE
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.197.103.66
ReturnHeader/FilingSecurityInformation/IPDt02017-03-17
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm011:21:54
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042571780
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ALEXANDER ARONSON FINNING & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt021 EAST MAIN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBOROUGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001581
ReturnHeader/PreparerPersonGrp/PhoneNum05083669100
ReturnHeader/PreparerPersonGrp/PreparationDt02017-03-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN BUCKLEY CPA
ReturnHeader/ReturnTs02017-04-24T15:54:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

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