Civic Intelligence

Acero Charter Schools Inc.

990 • Fiscal year 2016 • EIN 36-4235934

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 17, 2016

209 W Jackson Boulevard Suite 500Chicago, IL 60606

(312) 637-3900

Siviq Scores

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

Liabilities / Assets

86th percentile

0.83x

Higher debt load relative to assets than 86% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

63rd percentile

0.70x

Higher debt load relative to revenue than 63% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Net Margin

52nd percentile

2.8%

Higher net margin than 52% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

17th percentile

$181,152

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Asset Growth

67th percentile

6.0%

Faster asset growth than 67% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

4.4%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Assets

Up

$79,636,477

Up $4,476,732 (+6.0%) from 2015

Net Assets

Up

$13,599,298

Up $2,670,558 (+24%) from 2015

Liabilities

Up

$66,037,179

Up $1,806,174 (+2.8%) from 2015

Revenue

Up

$94,514,595

Up $3,951,655 (+4.4%) from 2015

Expenses

Up

$91,844,037

Up $3,697,797 (+4.2%) from 2015

Net Income

Up

$2,670,558

Up $253,858 (+11%) from 2015

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2013: $67,613,240Liabilities 2013: $62,385,925Net Assets 2013: $5,227,3152013Assets 2014: $71,630,145Liabilities 2014: $64,151,426Net Assets 2014: $7,478,7192014Assets 2015: $75,159,745Liabilities 2015: $64,231,005Net Assets 2015: $10,928,7402015Assets 2016: $79,636,477Liabilities 2016: $66,037,179Net Assets 2016: $13,599,2982016Assets 2018: $86,394,422Liabilities 2018: $62,994,864Net Assets 2018: $23,399,5582018Assets 2019: $89,193,414Liabilities 2019: $63,126,757Net Assets 2019: $26,066,6572019Assets 2020: $93,308,666Liabilities 2020: $66,175,217Net Assets 2020: $27,133,4492020Assets 2021: $97,227,259Liabilities 2021: $65,114,653Net Assets 2021: $32,112,6062021Assets 2022: $101,251,624Liabilities 2022: $63,352,918Net Assets 2022: $37,898,7062022Assets 2024: $109,586,537Liabilities 2024: $60,445,857Net Assets 2024: $49,140,6802024

Highlighted filing

2016

Assets$79,636,477
Liabilities$66,037,179
Net Assets$13,599,298

Operations Trend

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

$150M$100M$50M$0Expenses 2013: $63,890,3412013Revenue 2014: $83,049,013Expenses 2014: $80,797,609Net Income 2014: $2,251,4042014Revenue 2015: $90,562,940Expenses 2015: $88,146,240Net Income 2015: $2,416,7002015Revenue 2016: $94,514,595Expenses 2016: $91,844,037Net Income 2016: $2,670,5582016Revenue 2018: $96,191,553Expenses 2018: $86,657,893Net Income 2018: $9,533,6602018Revenue 2019: $97,048,525Expenses 2019: $94,381,426Net Income 2019: $2,667,0992019Revenue 2020: $99,185,235Expenses 2020: $98,118,443Net Income 2020: $1,066,7922020Revenue 2021: $113,233,241Expenses 2021: $108,438,953Net Income 2021: $4,794,2882021Revenue 2022: $117,350,059Expenses 2022: $110,041,797Net Income 2022: $7,308,2622022Revenue 2024: $124,882,198Expenses 2024: $120,344,943Net Income 2024: $4,537,2552024

Highlighted filing

2016

Revenue$94,514,595
Expenses$91,844,037
Net Income$2,670,558
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 17, 2016
Return Version
2015v2.1
Gross Receipts
$94,539,190
Mission and Program Overview

Mission

Transforming minds through academic empowerment and success. Acero provides educational opportunities that will launch the next generation of extraordinary life-long learners, discerners and doers.

Organization provides educational and community opportunities for youths in kindergarten through high school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,478,022$23,708,749▲ $1,230,727
Savings and Temporary Cash Investments$10,222,492$15,669,022▲ $5,446,530
Accounts Receivable$4,753,189$4,333,364▼ $419,825
Prepaid Expenses and Deferred Charges$951,739$1,292,307▲ $340,568
Cash and Non-Interest-Bearing Accounts$4,500$4,500→ $0
Total Assets$75,159,745$79,636,477▲ $4,476,732
Other Assets Total$36,749,803$34,628,535▼ $2,121,268
Liabilities
Tax Exempt Bond Liabilities$36,245,000$35,750,000▼ $495,000
Mortgage Notes Payable Secured by Investment Property$15,953,272$14,753,272▼ $1,200,000
Accounts Payable and Accrued Expenses$9,951,492$12,175,636▲ $2,224,144
Other Liabilities$1,944,993$3,240,725▲ $1,295,732
Deferred Revenue$136,248$117,546▼ $18,702
Total Liabilities$64,231,005$66,037,179▲ $1,806,174
Net Assets / Fund Balance
Unrestricted Net Assets$10,915,263$13,583,552▲ $2,668,289
Temporarily Rstr Net Assets$13,477$15,746▲ $2,269
Total Net Assets Fund Balance$10,928,740$13,599,298▲ $2,670,558
Total Liabilities and Net Assets / Fund Balance$75,159,745$79,636,477▲ $4,476,732

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$15,513,912$4,825,730$20,339,642
Equipment$8,194,837$9,930,421$18,125,258
Other Assets Org$3,040,594--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Josephine GomezChief of StaffFT$165,797$7,527$173,324
Brian TowneChief of External AffairsFT$141,699$9,217$150,916
Erin NeubertSchool DirectorFT$122,454$15,555$138,009
Thomas DenneenDeputy Chief - Elementary SchoolsFT$131,532$3,236$134,768
Christopher AllenSchool DirectorFT$125,054$6,813$131,867
Richard ValergaChief of OperationsFT$103,861$7,527$111,388
Matthew MoellerChief of SchoolsFT$100,250$11,011$111,261
Richard L RodriguezChief Executive OfficerFT$102,737$448$103,185
Michael BradleyChief Financial OfficerFT$89,097$7,062$96,159

Board Members and Trustees

NameTitle
Yeni RojasChair
Douglass G HewittVice Chairman
Hardik BhattDirector
Janet W SislerDirector
Margery a YeagerDirector
Nelly ClaudioDirector
Roxanne MatiasDirector
Stephen VickDirector
Helena C StangleSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Ceres Food Group INCFood Catering Services For Student Meals5343 W ROSCOE STREET, Chicago, IL 60641-4141$3,890,496
Cdw Government INCTechnology Hardware And Software75 REMITTANCE DRIVE SUITE 1515, Chicago, IL 60675-1515$3,141,617
United Neighborhood OrganizationManagement Settlement Fee1655 S BLUE ISLAND AVE, Chicago, IL 60608$2,500,000
Edu Healthcare LLCSpecial Education Instruction Services FPO BOX 480394, Charlotte, NC 28269$2,069,206
Catholic Bishop Of ChicagoRental And Utility Payments For School B835 N RUSH STREET, Chicago, IL 60611$1,343,141
Revenue and Support

Revenue Composition

Contributions and Grants
$94,181,754
Program Service Revenue
$287,560
Investment Income
$42,367
Other Revenue
$2,914
All Other Contributions
$922,785
Change in Net Assets
$2,670,558

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$1,549,851Invoice Cost
Total Noncash Contributions1$1,549,851-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$56,295,622
Other Expenses$35,548,415
Total Fundraising Expense$188,846
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$40,973,049$3,409,933-$44,382,982
Occupancy$8,246,363$718,526-$8,964,889
Other Employee Benefits$4,744,706$410,787-$5,155,493
Pension Plan Contributions$4,215,402$357,147-$4,572,549
Depreciation Depletion$3,907,124$340,437-$4,247,561
Fees for Services Other$2,973,629$357,483-$3,331,112
Interest$2,911,390$253,677-$3,165,067
Fees for Services Management-$2,500,000-$2,500,000
Payroll Taxes$1,623,274$141,440-$1,764,714
All Other Expenses$1,236,145$260,863$188,846$1,685,854
Office Expenses$983,827$390,230-$1,374,057
Other Expenses$1,213,284--$1,213,284
Fees for Services Legal-$803,564-$803,564
Insurance$398,767$34,746-$433,513
Current Officers, Directors, Trustees, and Key Employees$227,159$192,725-$419,884
Fees for Services Accounting-$171,130-$171,130
Advertising$89,487--$89,487
Information Technology$61,998$5,402-$67,400
Conferences and Meetings$57,557$5,015-$62,572
Total Functional Expenses$81,302,086$10,353,105$188,846$91,844,037
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$24,595
Fundraising Gross Income$7,462
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
March Fundraiser$27,251$7,462$21,952$-14,490
Total Events$27,251$7,462$24,595$-17,133
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 Entity$1,757,747
Deferred Rent$884,904
Capital Lease Obligation$598,074

Bond Issues

BondIssuerIssuedIssue PricePurpose
BIllinois Finance Authority2011-10-26$21,200,000SEE PART VI
AIllinois Finance Authority2011-10-26$15,575,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$21,200,000$19,057,280-$424,000
A$15,575,000$14,000,809$1,025,000$311,500

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The form 990 is prepared by an independent accountanting firm, then the cfo sends a copy of the final draft 990 prior to its filing to the board of directors. The cfo reviews the draft with the board of directors. The board of directors are provided with a copy of the 990 prior to submission to the irs.

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

Monitoring is done on an on-going basis by management and the board of directors and is accomplished as part of regular board of directors meetings and monitored by corporate attorneys. A policy has been established to define conflicts of interest and shall require that each officer, director, and employee with decision-making authority of the entity certify at least annually that he or she has no conflict that has not been disclosed in the appropriate certification form. The policy also includes practices for monitoring proposed or ongoing transactions and dealing with potential or actual conflicts, whether discovered before or after the transactions has occurred.

Form 990, Part VI, Section B, Line 15

Human resources researches comparable ceo compensation by reference to salary surveys, independent consultants, and publicly available information. This information was included in the compensation information package given to the board by the chief operating officer. The board uses this information to determine and document annual compensation. The independent board of directors review the reasonableness of the compensation arrangement and approval is documented in the board minutes. The board of directors also approves any proposed compensation to any individual that is $125,000 or greater.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available upon request.

Form 990, Part VIII, Column A, Line 12

Difference in total revenue from audited financial statements of $687,539. The difference of $687,539 is due to in-kind revenue and expenses not included on the form 990.

Filing and Contact Details

Filer

Filer Name
Uno Charter School Network Inc
EIN
36-4235934
Phone
3126373900
Address
209 W JACKSON BOULEVARD SUITE 500, CHICAGO, IL 60606

Signing Officer

Name
Richard L Rodriguez
Title
Chief Executive Officer
Phone
3126373900
Signed
2016-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard L Rodriguez
Formed
1997
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
878
Volunteers
300

Preparer

Firm
Cliftonlarsonallen Llp
Address
1301 W 22ND ST STE 1100, OAK BROOK, IL 60523
Preparer
Gregory S Adams
Phone
6305738600
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

There is no change from the prior year. Oversight of the audit and selection of an independent accountant are performed by the board of directors or appropriate committees of the board.

Form 990, Part IX, Column A, Line 25

Difference in total expenses from audited financial statements of $687,539. The difference of $687,539 is due to in-kind revenue and expenses not included on the form 990.

Financial Statement Notes

PART X, LINE 2:

The school is exempt from federal income tax under section 501(c)(3) of the internal revenue code (irc). However, income from certain activities not directly related to the school's tax-exempt purpose is subject to taxation as unrelated business income. In addition, the school qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(2). Management of the school believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the consolidated financial statements.

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IRS990/Form990PartVIISectionAGrp/TitleTxt10CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHIEF OF SCHOOLS
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHIEF OF OPERATIONS
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IRS990/MissionDesc0ORGANIZATION PROVIDES EDUCATIONAL AND COMMUNITY OPPORTUNITIES FOR YOUTHS IN KINDERGARTEN THROUGH HIGH SCHOOL. THE ORGANIZATION'S EDUCATIONAL MODEL IS ANCHORED BY STRONG PARENT PARTNERSHIPS, STRUCTURED ENVIRONMENTS, RIGOROUS CURRICULUM, AND AN INDIVIDUALIZED APPROACH THAT DEVELOPS AND EMPOWERS STUDENTS.
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