Civic Intelligence

Belmont Charter School

990 • Fiscal year 2020 • EIN 37-1437182

Jul 01, 2019 to Jun 30, 2020 • Filed on May 15, 2021

1301 Belmont AvenuePhiladelphia, PA 19104

(215) 790-1294

Siviq Scores

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

Liabilities / Assets

99th percentile

3.84x

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

75th percentile

0.83x

Higher debt load relative to revenue than 75% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

55th percentile

6.1%

Higher net margin than 55% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

41st percentile

$148,837

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

9th percentile

-7.2%

Faster asset growth than 9% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

58th percentile

5.8%

Faster revenue growth than 58% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Down

$3,386,573

Down $264,137 (-7.2%) from 2019

Net Assets

Up

-$9,601,576

Up $959,910 (+9.1%) from 2019

Liabilities

Down

$12,988,149

Down $1,224,047 (-8.6%) from 2019

Revenue

Up

$15,631,756

Up $862,199 (+5.8%) from 2019

Expenses

Up

$14,671,846

Up $701,188 (+5.0%) from 2019

Net Income

Up

$959,910

Up $161,011 (+20%) from 2019

Historical Trend

Balance Sheet Trend

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

$20M$10M$0-$10M-$20MAssets 2013: $1,671,825Liabilities 2013: $1,148,530Net Assets 2013: $523,2952013Assets 2014: $1,925,453Liabilities 2014: $1,283,940Net Assets 2014: $641,5132014Assets 2015: $3,871,982Liabilities 2015: $3,358,449Net Assets 2015: $513,5332015Assets 2016: $4,106,995Liabilities 2016: $16,023,374Net Assets 2016: -$11,916,3792016Assets 2017: $4,463,943Liabilities 2017: $15,219,144Net Assets 2017: -$10,755,2012017Assets 2018: $3,862,617Liabilities 2018: $15,223,002Net Assets 2018: -$11,360,3852018Assets 2019: $3,650,710Liabilities 2019: $14,212,196Net Assets 2019: -$10,561,4862019Assets 2020: $3,386,573Liabilities 2020: $12,988,149Net Assets 2020: -$9,601,5762020Assets 2021: $5,518,933Liabilities 2021: $12,006,012Net Assets 2021: -$6,487,0792021Assets 2022: $6,922,339Liabilities 2022: $11,084,467Net Assets 2022: -$4,162,1282022Assets 2023: $7,419,976Liabilities 2023: $9,834,095Net Assets 2023: -$2,414,1192023Assets 2024: $8,550,056Liabilities 2024: $10,122,392Net Assets 2024: -$1,572,3362024

Highlighted filing

2020

Assets$3,386,573
Liabilities$12,988,149
Net Assets-$9,601,576

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2013: $6,416,1662013Revenue 2014: $6,916,301Expenses 2014: $6,798,083Net Income 2014: $118,2182014Revenue 2015: $7,224,544Expenses 2015: $7,443,929Net Income 2015: -$219,3852015Revenue 2016: $6,631,281Expenses 2016: $9,759,043Net Income 2016: -$3,127,7622016Revenue 2017: $9,280,944Expenses 2017: $10,067,503Net Income 2017: -$786,5592017Revenue 2018: $11,927,450Expenses 2018: $12,044,926Net Income 2018: -$117,4762018Revenue 2019: $14,769,557Expenses 2019: $13,970,658Net Income 2019: $798,8992019Revenue 2020: $15,631,756Expenses 2020: $14,671,846Net Income 2020: $959,9102020Revenue 2021: $18,285,038Expenses 2021: $15,170,541Net Income 2021: $3,114,4972021Revenue 2022: $21,008,354Expenses 2022: $18,683,403Net Income 2022: $2,324,9512022Revenue 2023: $23,142,305Expenses 2023: $21,394,295Net Income 2023: $1,748,0102023Revenue 2024: $24,419,274Expenses 2024: $23,577,491Net Income 2024: $841,7832024

Highlighted filing

2020

Revenue$15,631,756
Expenses$14,671,846
Net Income$959,910
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 15, 2021
Return Version
2019v5.0
Gross Receipts
$15,631,756
Mission and Program Overview

Mission

Operation of Charter School.

Operation of charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,222,041$870,623▼ $351,418
Land, Buildings, and Equipment, Net$515,939$637,766▲ $121,827
Pledges and Grants Receivable-$591,110-
Prepaid Expenses and Deferred Charges$34,911$81,509▲ $46,598
Accounts Receivable$717,351$923▼ $716,428
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,650,710$3,386,573▼ $264,137
Other Assets Total$1,160,468$1,204,642▲ $44,174
Liabilities
Other Liabilities$11,624,006$10,291,864▼ $1,332,142
Accounts Payable and Accrued Expenses$2,588,190$2,696,285▲ $108,095
Total Liabilities$14,212,196$12,988,149▼ $1,224,047
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-10,561,486$-9,601,576▲ $959,910
Total Net Assets Fund Balance$-10,561,486$-9,601,576▲ $959,910
Total Liabilities and Net Assets / Fund Balance$3,650,710$3,386,573▼ $264,137

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$291,430$652,880$944,310
Leasehold Improvements$346,336$40,400$386,736
Other Assets Org$519,871--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer FaustmanCEOFT$128,700$20,137$148,837

Board Members and Trustees

NameTitle
Michael KarpPresident
Alice GibbsBoard Member
Dominique ReiffBoard Member
Lisa KaminskyBoard Member
Rebecca TyerBoard Member
Leslie ConveySecretary
Steve ParicoTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Community Education AllianceManagement Fees1630 LOCUST STREET, Philadelphia, PA 19103$758,445
Therapy Solutions INCSpecial Ed Services915 MONTGOMERY AVE, Narberth, PA 19072$355,149
Invo Health Care AssocInstructional Svcs.1780 KENDARBREN DRIVE, Jamison, PA 18929$277,056
Education Plus HealthNursing Services970 SPROUL ROAD, Bryn Mawr, PA 19010$146,291
Professional Recruiters GroupRecruiting1735 MARKET STREET STE A510, Philadelphia, PA 19103$117,843
Revenue and Support

Revenue Composition

Contributions and Grants
$1,548,108
Program Service Revenue
$14,083,365
Investment Income
$283
Other Revenue
$0
Change in Net Assets
$959,910

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,631,756
Total Revenue per Audited Statements
$15,631,756
Total Revenue per Form 990
$15,631,756
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,859,010
Other Expenses$5,812,836
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,233,954$2,116,940-$7,350,894
All Other Expenses$1,001,780$871,526-$1,873,306
Other Employee Benefits$637,794$160,552-$798,346
Occupancy$341,010$341,009-$682,019
Other Expenses$636,780$758,445-$636,780
Payroll Taxes$437,163$197,565-$634,728
Current Officers, Directors, Trustees, and Key Employees-$128,700-$128,700
Depreciation Depletion$89,691--$89,691
Information Technology$31,788$55,039-$86,827
Fees for Services Legal-$67,333-$67,333
Advertising$283$66,471-$66,754
Fees for Services Accounting-$37,000-$37,000
Office Expenses$1,874$374-$2,248
Travel$339$300-$639
Pension Plan Contributions$21,073$-74,731-$-53,658
Total Functional Expenses$9,945,323$4,726,523$0$14,671,846

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,671,846
Total Expenses per Audited Statements$14,671,846
Total Expenses per Form 990$14,671,846
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$7,158,000
Deferred Inflows of Resources$2,616,000
Net Opeb Liability$325,000
Deferred Inflows-opeb$130,464
Accrued Compensated Absences$62,400
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 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Community education alliance of west philadelphia performs the following management services: human resources management, financial oversight, recruiting, reporting and educational program management.

Form 990, Part VI, Line 11B: Form 990 Review Process

Form 990 was sent to the board for review

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Annual conflict of interest forms are completed.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Board approves all compensation.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Board approves all compensation.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing documents are available upon request and are available to employees and board members.

Filing and Contact Details

Filer

Filer Name
Belmont Charter School
EIN
37-1437182
Phone
2157901294
Address
1301 BELMONT AVENUE, PHILADELPHIA, PA 19104

Signing Officer

Name
Jennifer Faustman
Title
CEO
Signed
2021-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
2002
Voting Board Members
10
Independent Board Members
10
Employees
196

Preparer

Firm
Sd Associates Pc
Address
300 Yorktown Plaza, Elkins Park, PA 19027
Preparer
Kevin S Drobnes
Phone
2155175600
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E: Other Expenses

ADMIN. FOOD: Column (A) - Total = $28567; Column (B) - Program Services = $0; Column (C) - Management & General = $28567; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

ADMIN. SUPPLIES: Column (A) - Total = $190752; Column (B) - Program Services = $0; Column (C) - Management & General = $190752; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

BOOKS & PERIODICALS: Column (A) - Total = $170841; Column (B) - Program Services = $170841; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

DUES AND FEES: Column (A) - Total = $84114; Column (B) - Program Services = $1131; Column (C) - Management & General = $82983; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

EQUIPMENT : Column (A) - Total = $73398; Column (B) - Program Services = $0; Column (C) - Management & General = $73398; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

EQUIPMENT RENTAL: Column (A) - Total = $30921; Column (B) - Program Services = $0; Column (C) - Management & General = $30921; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

FIELD TRIPS: Column (A) - Total = $24002; Column (B) - Program Services = $24002; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

INSTRUCTIONAL SUPPLIES: Column (A) - Total = $188807; Column (B) - Program Services = $188807; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

NURSING SERVICES: Column (A) - Total = $151600; Column (B) - Program Services = $0; Column (C) - Management & General = $151600; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

PARENT EVENTS: Column (A) - Total = $4298; Column (B) - Program Services = $4298; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Postage and Shipping: Column (A) - Total = $9026; Column (B) - Program Services = $0; Column (C) - Management & General = $9026; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Printing and Publications: Column (A) - Total = $58327; Column (B) - Program Services = $10649; Column (C) - Management & General = $47678; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

PROFESSIONAL DEVELOPMENT: Column (A) - Total = $149972; Column (B) - Program Services = $88893; Column (C) - Management & General = $61079; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

PROFESSIONAL SERVICES: Column (A) - Total = $8311; Column (B) - Program Services = $125; Column (C) - Management & General = $8186; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SOFTWARE - EDUCATION: Column (A) - Total = $112321; Column (B) - Program Services = $112321; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SPED FOOD: Column (A) - Total = $12196; Column (B) - Program Services = $12196; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SPED SUPPLIES: Column (A) - Total = $18669; Column (B) - Program Services = $18669; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SPORTS: Column (A) - Total = $3266; Column (B) - Program Services = $3266; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

STUDENT TRANSPORTATION: Column (A) - Total = $164617; Column (B) - Program Services = $164617; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SUBSTITUTES: Column (A) - Total = $201965; Column (B) - Program Services = $201965; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

TELECOMMUNICATIONS: Column (A) - Total = $160158; Column (B) - Program Services = $0; Column (C) - Management & General = $160158; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

TRUCK EXPENSE: Column (A) - Total = $27178; Column (B) - Program Services = $0; Column (C) - Management & General = $27178; Column (D) - Fundraising = $0

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0CHARTER SCHOOL LAW PROHIBITS DISCRIMINATION
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race

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