Civic Intelligence

Noble Network of Charter Schools

990 • Fiscal year 2014 • EIN 36-4241970

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

1 North State Street Floor 7-l60602

(773) 278-6895

Siviq Scores

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

Liabilities / Assets

70th percentile

0.53x

Higher debt load relative to assets than 70% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

55th percentile

0.57x

Higher debt load relative to revenue than 55% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Net Margin

77th percentile

19%

Higher net margin than 77% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

21st percentile

$264,087

Higher top officer pay than 21% of similar nonprofits.

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

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Asset Growth

96th percentile

46%

Faster asset growth than 96% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Assets

Up

$145,581,560

Up $45,737,152 (+46%) from 2013

Net Assets

Up

$68,001,168

Up $25,907,034 (+62%) from 2013

Liabilities

Up

$77,580,392

Up $19,830,118 (+34%) from 2013

Revenue

$134,940,442

No earlier filing loaded for comparison.

Expenses

Up

$109,058,672

Up $22,348,610 (+26%) from 2013

Net Income

$25,881,770

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.

$300M$200M$100M$0Assets 2011: $71,900,856Liabilities 2011: $52,019,814Net Assets 2011: $19,881,0422011Assets 2012: $81,303,520Liabilities 2012: $54,666,298Net Assets 2012: $26,637,2222012Assets 2013: $99,844,408Liabilities 2013: $57,750,274Net Assets 2013: $42,094,1342013Assets 2014: $145,581,560Liabilities 2014: $77,580,392Net Assets 2014: $68,001,1682014Assets 2015: $182,811,122Liabilities 2015: $113,482,001Net Assets 2015: $69,329,1212015Assets 2017: $206,335,443Liabilities 2017: $125,787,229Net Assets 2017: $80,548,2142017Assets 2018: $198,957,563Liabilities 2018: $95,718,767Net Assets 2018: $103,238,7962018Assets 2019: $204,759,984Liabilities 2019: $95,031,643Net Assets 2019: $109,728,3412019Assets 2020: $207,438,075Liabilities 2020: $92,145,149Net Assets 2020: $115,292,9262020Assets 2021: $251,287,542Liabilities 2021: $133,178,490Net Assets 2021: $118,109,0522021Assets 2022: $237,808,950Liabilities 2022: $119,060,696Net Assets 2022: $118,748,2542022

Highlighted filing

2014

Assets$145,581,560
Liabilities$77,580,392
Net Assets$68,001,168

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2011: $67,100,8102011Expenses 2012: $72,174,9192012Expenses 2013: $86,710,0622013Revenue 2014: $134,940,442Expenses 2014: $109,058,672Net Income 2014: $25,881,7702014Revenue 2015: $140,050,364Expenses 2015: $138,684,259Net Income 2015: $1,366,1052015Revenue 2017: $156,923,534Expenses 2017: $166,984,888Net Income 2017: -$10,061,3542017Revenue 2018: $183,548,843Expenses 2018: $160,905,261Net Income 2018: $22,643,5822018Revenue 2019: $174,882,435Expenses 2019: $168,991,580Net Income 2019: $5,890,8552019Revenue 2020: $186,903,293Expenses 2020: $181,004,819Net Income 2020: $5,898,4742020Revenue 2021: $192,810,740Expenses 2021: $192,021,204Net Income 2021: $789,5362021Revenue 2022: $227,971,902Expenses 2022: $228,530,056Net Income 2022: -$558,1542022

Highlighted filing

2014

Revenue$134,940,442
Expenses$109,058,672
Net Income$25,881,770
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Dec 15, 2014
Return Version
2013v3.0
Gross Receipts
$145,355,409
Mission and Program Overview

Mission

Noble's mission is to prepare low-income students with the scholarship, discipline, and honor necessary to succeed in college and lead exemplary lives, and to be a catalyst for education reform in chicago.

To instill in students the scholarship, discipline and honor necessary to succeed in college and beyond.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$61,512,680$70,276,601▲ $8,763,921
Cash and Non-Interest-Bearing Accounts$7,881,650$36,965,849▲ $29,084,199
Pledges and Grants Receivable$6,027,360$11,848,275▲ $5,820,915
Accounts Receivable$6,120,948$7,504,192▲ $1,383,244
Investments in Publicly Traded Securities$3,518,982--
Prepaid Expenses and Deferred Charges$2,412,748$1,787,185▼ $625,563
Savings and Temporary Cash Investments$2,502,923$80,166▼ $2,422,757
Total Assets$99,844,408$145,581,560▲ $45,737,152
Other Assets Total$9,867,117$17,119,292▲ $7,252,175
Liabilities
Tax Exempt Bond Liabilities$22,417,585$41,618,053▲ $19,200,468
Mortgage Notes Payable Secured by Investment Property$20,156,651$18,236,384▼ $1,920,267
Accounts Payable and Accrued Expenses$6,118,780$10,591,812▲ $4,473,032
Other Liabilities$5,724,821$5,336,568▼ $388,253
Deferred Revenue$3,332,437$1,797,575▼ $1,534,862
Total Liabilities$57,750,274$77,580,392▲ $19,830,118
Net Assets / Fund Balance
Unrestricted Net Assets$33,119,247$48,277,404▲ $15,158,157
Temporarily Rstr Net Assets$8,974,887$19,723,764▲ $10,748,877
Total Net Assets Fund Balance$42,094,134$68,001,168▲ $25,907,034
Total Liabilities and Net Assets / Fund Balance$99,844,408$145,581,560▲ $45,737,152

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$52,092,601$11,789,341$63,881,942
Buildings$6,644,208$716,564$7,360,772
Other Land Buildings$6,155,222-$6,155,222
Equipment$2,647,594$1,881,637$4,529,231
Land$2,736,976-$2,736,976
Other Assets Org$2,522,799--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rhonda KochleflChief External Affairs OfficerFT$157,713$106,374$264,087
Michael MilkieCEOFT$198,511$44,972$243,483
Michael MaddenChief Operating OfficerFT$152,583$52,434$205,017
Eric ThomasAssistant SuperintendentFT$173,934$19,257$193,191
William OlsenPrincipalFT$109,952$78,718$188,670
Pablo SierraPrincipalFT$109,680$73,911$183,591
Kyle ColeChief Education OfficerFT$149,449$24,747$174,196
Tyson KanePrincipalFT$94,882$72,276$167,158
Kimberly NealPrincipalFT$95,486$65,546$161,032
Jessica FloresSecretary/Director of Student EnrollmentFT$67,441$8,163$75,604
Joseph DragoTreasurer & CFOFT$70,065-$70,065

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Greenberg Traurig LLPLegal-$112,500
Elle Custom ApparelUniforms-$110,447
Revenue and Support

Revenue Composition

Contributions and Grants
$125,364,763
Program Service Revenue
$8,840,647
Investment Income
$241,352
Other Revenue
$493,680
All Other Contributions
$26,235,244
Change in Net Assets
$25,881,770

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded2$5,075,387Fair Market Value
Total Noncash Contributions2$5,075,387-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$67,874,961
Other Expenses$40,729,687
Total Fundraising Expense$855,461
Grants and Similar Amounts Paid$454,024
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$48,577,821$5,188,901$590,613$54,357,335
All Other Expenses$8,135,068$1,161,563$43,261$9,339,892
Occupancy$5,232,642$398,656-$5,631,298
Other Employee Benefits$4,655,549$331,956$21,139$5,008,644
Pension Plan Contributions$4,575,416$203,991$10,255$4,789,662
Information Technology$4,224,882$156,095$791$4,381,768
Depreciation Depletion$3,185,765$149,876-$3,335,641
Fees for Services Other$2,376,226$774,875$95,923$3,247,024
Payroll Taxes$2,120,742$346,576$38,645$2,505,963
Interest$2,068,685$208,272-$2,276,957
Office Expenses$1,601,685$145,983$14,131$1,761,799
Other Expenses$1,225,545$66,120$25,051$1,291,665
Current Officers, Directors, Trustees, and Key Employees$1,073,093$124,612$15,652$1,213,357
Grants to Domestic Individuals$454,024--$454,024
Insurance$384,824--$384,824
Total Functional Expenses$98,178,108$10,025,103$855,461$109,058,672
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$79,374
Fundraising Direct Expenses$48,679
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$81,074$79,374$2,165$77,209
Event 2$45,675-$3,449-
Total Events$126,749$79,374$48,679$30,695
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Lease Incentive$2,919,337
Deferred Rent$2,417,231

Bond Issues

BondIssuerIssuedIssue PricePurpose
C86-10919672013-10-24$19,903,820Ifa series 2013 - renovation
B86-10919672007-05-31$13,788,150Ifa series 2007 - renovation
A86-10919672006-08-30$11,383,550Ifa series 2006 - renovation

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$19,903,820--$398,076
B$13,788,150-$1,951,250$272,400
A$11,383,550$2,021,698$2,233,750$225,000

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
Yes
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

Management assists in preparing and then reviewing a draft of form 990 prepared by the organization's cpa firm. A final copy is provided to the board of directors before filing with the irs.

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

This policy requires all officers, directors, and key employees to disclose annually interests that could give rise to conflicts. Noble network of charter schools enforces and monitors its compliance by reviewing disclosure statements regularly and requires all parties to disclose potential conflicts of interest as they arise throughout the year.

Form 990, Part VI, Section B, Line 15

The board of directors determines the compensation for the organization's ceo and superintendent. Salary for all other employees is determined by management's research of comparable positions at comparable organizations. The ceo and superintendent review and approve the compensation accordingly.

Form 990, Part VI, Section C, Line 19

The organization furnishes this information upon request.

Filing and Contact Details

Filer

EIN
36-4241970
Phone
7732786895

Signing Officer

Name
Joseph Drago
Title
Chief Financial Officer
Phone
3124508932
Signed
2014-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Milkie
Formed
1999
Legal Domicile
Il
Voting Board Members
22
Independent Board Members
21
Employees
1,468
Volunteers
398

Preparer

Preparer
James G Quaid
Phone
3126707444
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The school is a tax-exempt organization as described in section 501(c)(3) of the internal revenue code (the code) and is exempt from federal income taxes on related income pursuant to section 501(a) of the code. In addition, the internal revenue service has determined that the school is not a private foundation within the meaning of section 509(a) of the code. The school has adopted the requirements for accounting for uncertain tax positions and management has determined that the school was not required to record a liability related to uncertain tax positions as of june 30, 2014 and 2013. Federal and state tax and/or information returns of the school are subject to examinations by the internal revenue service and state taxing authorities, generally for three years after the returns were filed. Management believes that the school is no longer subject to income tax examinations by taxing authorities for years ended prior to june 30, 2011.

Raw XML AppendixShowing 400 of 1,065 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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IRS990/ActivityOrMissionDesc0TO INSTILL IN STUDENTS THE SCHOLARSHIP, DISCIPLINE AND HONOR NECESSARY TO SUCCEED IN COLLEGE AND BEYOND.
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IRS990/Desc0THE NOBLE NETWORK OF CHARTER SCHOOLS WAS ESTABLISHED FORTHE PURPOSE OF REPLICATING THE NATIONALLY RECOGNIZED NOBLESTREET CHARTER HIGH SCHOOL, WHICH OPENED IN 1999. THENETWORK PROVIDES A QUALITY EDUCATION TO ENABLE THE LOW-INCOME POPULATION TO MAKE CHANGES TO IMPROVE THEIR LIVES. THE NETWORK SERVED 8,914 STUDENTS IN 2014.
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt28PRINCIPAL
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IRS990/Form990PartVIISectionAGrp/TitleTxt31PRINCIPAL
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IRS990/MissionDesc0NOBLE'S MISSION IS TO PREPARE LOW-INCOME STUDENTS WITH THE SCHOLARSHIP, DISCIPLINE, AND HONOR NECESSARY TO SUCCEED IN COLLEGE AND LEAD EXEMPLARY LIVES, AND TO BE A CATALYST FOR EDUCATION REFORM IN CHICAGO.
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