Civic Intelligence

Broadway Academy Inc Fka Csr - Ccez Vcphs West Inc

990 • Fiscal year 2018 • EIN 27-4385313

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

3398 East 55th StCleveland, OH 44127

(216) 271-7747

Siviq Scores

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

Liabilities / Assets

99th percentile

3.39x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

92nd percentile

2.41x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

94th percentile

64%

Higher net margin than 94% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

36th percentile

$1,875

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

85th percentile

27%

Faster asset growth than 85% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

4th percentile

-56%

Faster revenue growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$1,020,928

Up $215,012 (+27%) from 2017

Net Assets

Up

-$2,442,854

Up $404,914 (+14%) from 2017

Liabilities

Down

$3,463,782

Down $189,902 (-5.2%) from 2017

Revenue

Down

$1,438,052

Down $1,867,729 (-56%) from 2017

Expenses

Down

$519,086

Down $2,734,329 (-84%) from 2017

Net Income

Up

$918,966

Up $866,600 (+1655%) from 2017

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2013: $193,234Liabilities 2013: $181,727Net Assets 2013: $11,5072013Assets 2014: $125,904Liabilities 2014: $79,776Net Assets 2014: $46,1282014Assets 2015: $340,513Liabilities 2015: $3,220,395Net Assets 2015: -$2,879,8822015Assets 2016: $655,440Liabilities 2016: $3,555,572Net Assets 2016: -$2,900,1322016Assets 2017: $805,916Liabilities 2017: $3,653,684Net Assets 2017: -$2,847,7682017Assets 2018: $1,020,928Liabilities 2018: $3,463,782Net Assets 2018: -$2,442,8542018Assets 2019: $799,529Liabilities 2019: $2,995,376Net Assets 2019: -$2,195,8472019Assets 2020: $642,889Liabilities 2020: $2,590,766Net Assets 2020: -$1,947,8772020Assets 2021: $1,171,002Liabilities 2021: $2,707,937Net Assets 2021: -$1,536,9352021Assets 2022: $2,870,777Liabilities 2022: $3,962,879Net Assets 2022: -$1,092,1022022Assets 2023: $3,996,650Liabilities 2023: $5,121,156Net Assets 2023: -$1,124,5062023Assets 2024: $4,331,415Liabilities 2024: $6,022,284Net Assets 2024: -$1,690,8692024

Highlighted filing

2018

Assets$1,020,928
Liabilities$3,463,782
Net Assets-$2,442,854

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2013: $3,297,4232013Revenue 2014: $3,430,089Expenses 2014: $3,395,468Net Income 2014: $34,6212014Revenue 2015: $3,353,577Expenses 2015: $3,212,768Net Income 2015: $140,8092015Revenue 2016: $3,458,496Expenses 2016: $3,478,746Net Income 2016: -$20,2502016Revenue 2017: $3,305,781Expenses 2017: $3,253,415Net Income 2017: $52,3662017Revenue 2018: $1,438,052Expenses 2018: $519,086Net Income 2018: $918,9662018Revenue 2019: $2,071,797Expenses 2019: $1,824,790Net Income 2019: $247,0072019Revenue 2020: $2,030,194Expenses 2020: $1,782,224Net Income 2020: $247,9702020Revenue 2021: $5,064,260Expenses 2021: $4,653,318Net Income 2021: $410,9422021Revenue 2022: $5,753,049Expenses 2022: $5,308,216Net Income 2022: $444,8332022Revenue 2023: $7,986,743Expenses 2023: $8,019,147Net Income 2023: -$32,4042023Revenue 2024: $9,171,803Expenses 2024: $9,738,166Net Income 2024: -$566,3632024

Highlighted filing

2018

Revenue$1,438,052
Expenses$519,086
Net Income$918,966
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.3
Gross Receipts
$1,438,052
Mission and Program Overview

Mission

It is our mission to provide an effective, consistent, and academically rigorous education in a safe, disciplined, and nurturing environment. We will empower students to reach their fullest potential by implementing a comprehensive curriculum facilitated by highly effective educators in collaboration with families and the community, and supported by progressive technology.

To provide a high quality alternative education opportunity for children ages 5-14, grades k-8

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$672,888$960,336▲ $287,448
Cash and Non-Interest-Bearing Accounts$70,894$31,579▼ $39,315
Pledges and Grants Receivable$61,565$25,925▼ $35,640
Accounts Receivable$569$3,088▲ $2,519
Total Assets$805,916$1,020,928▲ $215,012
Liabilities
Other Liabilities$2,693,790$2,665,576▼ $28,214
Deferred Revenue$880,167$769,390▼ $110,777
Grants Payable$57,561$21,896▼ $35,665
Accounts Payable and Accrued Expenses$22,166$6,920▼ $15,246
Total Liabilities$3,653,684$3,463,782▼ $189,902
Net Assets / Fund Balance
Unrestricted Net Assets$-2,847,768$-2,442,854▲ $404,914
Total Net Assets Fund Balance$-2,847,768$-2,442,854▲ $404,914
Total Liabilities and Net Assets / Fund Balance$805,916$1,020,928▲ $215,012
Compensation and Service Providers

Employees

NameTitleBaseTotal
Daryl HansonDirector$1,875$1,875
Kim HenryTreasurer$1,875$1,875
Michelle SmithVice President$1,875$1,875
Cynthia WestonSecretary$1,750$1,750
Gwendolyn Norfleet-rodgersPresident$1,500$1,500

Board Members and Trustees

NameTitle
Jeffrey a Foster CPAFiscal Officer

Highest Paid Contractors

ContractorServicesLocationCompensation
Chippewa Community School LLCEducational Management121 MAIN ST SUITE 200, Akron, OH 44308$1,365,619
Revenue and Support

Revenue Composition

Contributions and Grants
$1,420,112
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$17,940
Change in Net Assets
$918,966

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,438,052
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,438,052
Total Revenue per Form 990
$1,438,052
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,452,437
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0
Salaries, Compensation, and Employee Benefits$-933,351

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$1,365,619--$1,365,619
Fees for Services Accounting-$23,026-$23,026
Fees for Services Legal-$20,214-$20,214
Other Expenses-$8,211-$8,211
Insurance-$8,009-$8,009
Pension Plan Contributions$-933,351--$-933,351
Total Functional Expenses$432,268$86,818$0$519,086

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$519,086
Total Expenses per Audited Statements$519,086
Total Expenses per Form 990$519,086
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$2,665,576
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The school contracts with chippewa community school, llc for most of its functions. Chippewa community school, llc is responsible and accountable to the school's board of directors for the adminstration and operation of the school. The school is required to pay chippewa community school, llc a monthly continuing fee of 95 percent of the school's "qualified gross revenues and chippewa community school, llc is responsible for all costs incurred in providing the educational program at the school. While control over the management duties of the school has been delegated to chippewa community school, llc by virtue of the management agreement, the governing authority still has the overall responsibility to oversee the accounting procedures.

Form 990, Part VI, Section B, Line 11B

A copy of the completed form 990 is sent to the board president and fiscal officer to be reviewed and signed before filing.

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

The governing authority reviews the conflict of interest policy annually.

Form 990, Part VI, Section C, Line 19

Upon written or verbal request, documents are made available to the public. However, for the end of the year unaudited financials, a public notice is placed in the local papers stating that the unaudited financials are available for review.

Filing and Contact Details

Filer

Filer Name
Broadway Academy Inc
EIN
27-4385313
Phone
2162717747
Address
3398 EAST 55TH ST, CLEVELAND, OH 44127

Signing Officer

Name
Jeffery a Foster CPA
Title
Fiscal Officer
Phone
2162717747
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gwendolyn Norfleet - Rodg
Formed
2011
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Skoda Minotti & Co
Address
3320 WEST MARKET STREET STE 300, FAIRLAWN, OH 44333
Preparer
Jeffrey a Foster CPA
Phone
3306681100
Supplemental Narrative

Additional Explanations

2C

The organization does have a committee that assumes oversight responsibility of the audit, review of its financial statements, and selection of an independent accountant. This has not changed since the prior year.

Raw XML Appendix363 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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IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0A STATEMENT READING "ALL EDUCATIONAL PROGRAMS ARE AVAILABLE WITHOUT REGARD TO RACE, COLOR, NATIONAL ORIGIN, SEX OR DISABILITY" IS ALWAYS INCLUDED. THIS STATEMENT IS PUBLISHED IN THE PARENT/STUDENT HANDBOOK, BOARD POLICY BOOK AND ON THE WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT PROVIDE SCHOLARSHIPS OR FINANCIAL ASSISTANCE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2EXPLANATION OF GOVERNMENT FINANCIAL AID: THE SCHOOL CURRENTLY PARTICIPATES IN THE STATE FOUNDATION PROGRAM. REVENUES RECEIVED FROM THIS PROGRAM ARE RECOGNIZED AS OPERATING REVENUES IN THE ACCOUNTING PERIOD IN WHICH ALL ELIGIBILITY REQUIREMENTS HAVE BEEN MET. THE SCHOOL ALSO PARTICIPATES IN THE FEDERAL CHARTER SCHOOL GRANT PROGRAM THROUGH THE OHIO DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL CONTRACTS WITH CHIPPEWA COMMUNITY SCHOOL, LLC FOR MOST OF ITS FUNCTIONS. CHIPPEWA COMMUNITY SCHOOL, LLC IS RESPONSIBLE AND ACCOUNTABLE TO THE SCHOOL'S BOARD OF DIRECTORS FOR THE ADMINSTRATION AND OPERATION OF THE SCHOOL. THE SCHOOL IS REQUIRED TO PAY CHIPPEWA COMMUNITY SCHOOL, LLC A MONTHLY CONTINUING FEE OF 95 PERCENT OF THE SCHOOL'S "QUALIFIED GROSS REVENUES AND CHIPPEWA COMMUNITY SCHOOL, LLC IS RESPONSIBLE FOR ALL COSTS INCURRED IN PROVIDING THE EDUCATIONAL PROGRAM AT THE SCHOOL. WHILE CONTROL OVER THE MANAGEMENT DUTIES OF THE SCHOOL HAS BEEN DELEGATED TO CHIPPEWA COMMUNITY SCHOOL, LLC BY VIRTUE OF THE MANAGEMENT AGREEMENT, THE GOVERNING AUTHORITY STILL HAS THE OVERALL RESPONSIBILITY TO OVERSEE THE ACCOUNTING PROCEDURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE COMPLETED FORM 990 IS SENT TO THE BOARD PRESIDENT AND FISCAL OFFICER TO BE REVIEWED AND SIGNED BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING AUTHORITY REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON WRITTEN OR VERBAL REQUEST, DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. HOWEVER, FOR THE END OF THE YEAR UNAUDITED FINANCIALS, A PUBLIC NOTICE IS PLACED IN THE LOCAL PAPERS STATING THAT THE UNAUDITED FINANCIALS ARE AVAILABLE FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DOES HAVE A COMMITTEE THAT ASSUMES OVERSIGHT RESPONSIBILITY OF THE AUDIT, REVIEW OF ITS FINANCIAL STATEMENTS, AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS HAS NOT CHANGED SINCE THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc42C
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0805916
IRS990/TotalAssetsEOYAmt01020928
IRS990/TotalAssetsGrp/BOYAmt0805916
IRS990/TotalAssetsGrp/EOYAmt01020928
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01420112
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt086818
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0432268
IRS990/TotalFunctionalExpensesGrp/TotalAmt0519086
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03653684
IRS990/TotalLiabilitiesEOYAmt03463782
IRS990/TotalLiabilitiesGrp/BOYAmt03653684
IRS990/TotalLiabilitiesGrp/EOYAmt03463782
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2847768
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2442854
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0432268
IRS990/TotalReportableCompFromOrgAmt08875
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt017940
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01438052
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0805916
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01020928
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2847768
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2442854
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03398 EAST 55TH ST
IRS990/USAddress/CityNm0CLEVELAND
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044127
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HOPE-ACADEMIES.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFFERY A FOSTER CPA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FISCAL OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum02162717747
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BROADWAY ACADEMY INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FKA CSR-CCEZ VCPHS WEST INC
ReturnHeader/Filer/BusinessNameControlTxt0BROA
ReturnHeader/Filer/EIN0274385313
ReturnHeader/Filer/PhoneNum02162717747
ReturnHeader/Filer/USAddress/AddressLine1Txt03398 EAST 55TH ST
ReturnHeader/Filer/USAddress/CityNm0CLEVELAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044127
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId00DB878BFD42E33088DD4DE7FCA53FBAB26A024A0
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00DB641E06F94AA6096A80D180610BFE0699DA084
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt038.94.193.194
ReturnHeader/FilingSecurityInformation/IPDt02019-05-10
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm014:42:59
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341945206
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SKODA MINOTTI & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03320 WEST MARKET STREET STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FAIRLAWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044333
ReturnHeader/PreparerPersonGrp/PhoneNum03306681100
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY A FOSTER CPA
ReturnHeader/ReturnTs02019-05-14T14:03:15-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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