Civic Intelligence

Latin Academy Charter School Inc

990 • Fiscal year 2016 • EIN 45-1669401

Jul 01, 2015 to Jun 30, 2016 • Filed on Sep 30, 2016

Organization Profilewww.latin-academy.org
1442 Metropolitan Parkway SWAtlanta, GA 30310

(404) 753-4050

Siviq Scores

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

Liabilities / Assets

97th percentile

1.61x

Higher debt load relative to assets than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

79th percentile

0.60x

Higher debt load relative to revenue than 79% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

58th percentile

4.9%

Higher net margin than 58% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

97th percentile

128%

Faster asset growth than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

71st percentile

14%

Faster revenue growth than 71% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$1,222,264

Up $687,284 (+128%) from 2015

Net Assets

Up

-$743,086

Up $337,741 (+31%) from 2015

Liabilities

Up

$1,965,350

Up $349,543 (+22%) from 2015

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin58th percentile

Revenue

Up

$3,252,561

Up $401,220 (+14%) from 2015

Expenses

Down

$3,092,844

Down $371,286 (-11%) from 2015

Net Income

Up

$159,717

Up $772,506 (+126%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MAssets 2012: $87,783Liabilities 2012: $36,232Net Assets 2012: $51,5512012Assets 2013: $201,532Liabilities 2013: $18,393Net Assets 2013: $183,1392013Assets 2014: $354,294Liabilities 2014: $34,581Net Assets 2014: $319,7132014Assets 2015: $534,980Liabilities 2015: $1,615,807Net Assets 2015: -$1,080,8272015Assets 2016: $1,222,264Liabilities 2016: $1,965,350Net Assets 2016: -$743,0862016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2016

Assets$1,222,264
Liabilities$1,965,350
Net Assets-$743,086
Open 2016 Filing

Operations Trend

Revenue Growth71st percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2012: $297,344Expenses 2012: $245,793Net Income 2012: $51,5512012Revenue 2013: $1,528,780Expenses 2013: $1,397,192Net Income 2013: $131,5882013Revenue 2014: $2,042,160Expenses 2014: $1,905,586Net Income 2014: $136,5742014Revenue 2015: $2,851,341Expenses 2015: $3,464,130Net Income 2015: -$612,7892015Revenue 2016: $3,252,561Expenses 2016: $3,092,844Net Income 2016: $159,7172016Revenue 2017: $11,546Expenses 2017: $175,801Net Income 2017: -$164,2552017

Highlighted filing

2016

Revenue$3,252,561
Expenses$3,092,844
Net Income$159,717
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Sep 30, 2016
Return Version
2015v2.1
Gross Receipts
$3,252,561
Mission and Program Overview

Mission

The mission of the Charter School is to develop the minds and character of middle school students through a rigorous academic program which prepares graduates to enter and succeed in college, live with purpose, and behave with high moral character.

The mission of the charter school is to develop the minds and character of middle school students through a rigorous academic program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$53,071$226,850▲ $173,779
Land, Buildings, and Equipment, Net$130,160--
Total Assets$534,980$1,222,264▲ $687,284
Other Assets Total$351,749$995,414▲ $643,665
Liabilities
Other Liabilities$1,490,962$1,778,813▲ $287,851
Accounts Payable and Accrued Expenses$124,845$186,537▲ $61,692
Total Liabilities$1,615,807$1,965,350▲ $349,543
Net Assets / Fund Balance
Temporarily Rstr Net Assets$130,160--
Unrestricted Net Assets$-1,210,987$-743,086▲ $467,901
Total Net Assets Fund Balance$-1,080,827$-743,086▲ $337,741
Total Liabilities and Net Assets / Fund Balance$534,980$1,222,264▲ $687,284

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$340,602--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Kaseem LadipoBoard Chair
Eric WearneBoard Member
Jamal BookerBoard Member
Kathleen MathersBoard Member
Laniesha CobbBoard Member
Veronica DavisBoard Member
Aja KwelionaPrincipal
Scott HarrisonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,911,959
Program Service Revenue
$340,602
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$159,717

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,252,561
Total Revenue per Audited Statements
$3,252,561
Total Revenue per Form 990
$3,252,561
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,092,844
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
All Other Expenses$379,507$497,815-$877,322
Other Expenses$229,645$268,291-$268,291
Total Functional Expenses$2,326,738$766,106$0$3,092,844

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,092,844
Total Expenses per Audited Statements$3,092,844
Total Expenses per Form 990$3,092,844
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 Liability$1,330,274
Other Liabilities$324,629
Defined Benefit Pension Plans$123,910
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Form 990 is presented to the school board for approval before final submission to irs.”

Governing documents etc available to public Part VI line 19

“The organizations gorverning documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Latin Academy Charter School Inc
EIN
45-1669401
Address
1442 METROPOLITAN PARKWAY SW, ATLANTA, GA 30310

Signing Officer

Name
Kaseem Ladipo
Title
Board Chair
Phone
4047534050
Signed
2016-09-30
Discuss with paid preparer
Yes

Organization Details

Formed
2011
Legal Domicile
Ga
Voting Board Members
7
Independent Board Members
7
Employees
25

Preparer

Firm
Bambo Sonaike CPA LLC
Address
707 WHITLOCK AVE SUITE B-21, Marietta, GA 30064
Preparer
Adebambo Sonaike CPA
Phone
7709566455
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Changes relating to prior period activities.”

List of other fees for services expenses Part IX line 11G

“See listing of other expenses.”

List of other expenses Part IX line 24E

“See listing of other expenses.”

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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/FormAndLineReferenceDesc4List of other expenses Part IX line 24e
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0130160
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0534980
IRS990/TotalAssetsEOYAmt01222264
IRS990/TotalAssetsGrp/BOYAmt0534980
IRS990/TotalAssetsGrp/EOYAmt01222264
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02911959
IRS990/TotalEmployeeCnt025
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0766106
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02326738
IRS990/TotalFunctionalExpensesGrp/TotalAmt03092844
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01615807
IRS990/TotalLiabilitiesEOYAmt01965350
IRS990/TotalLiabilitiesGrp/BOYAmt01615807
IRS990/TotalLiabilitiesGrp/EOYAmt01965350
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1080827
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-743086
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02326738
IRS990/TotalProgramServiceRevenueAmt0340602
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0340602
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03252561
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0534980
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01222264
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1210987
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-743086
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KASEEM LADIPO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum04047534050
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-09-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LATIN ACADEMY CHARTER SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0LATI
ReturnHeader/Filer/EIN0451669401
ReturnHeader/Filer/USAddress/AddressLine1Txt01442 METROPOLITAN PARKWAY SW
ReturnHeader/Filer/USAddress/CityNm0ATLANTA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd030310
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0900226617
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BAMBO SONAIKE CPA LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0707 WHITLOCK AVE SUITE B-21
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Marietta
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030064
ReturnHeader/PreparerPersonGrp/PhoneNum07709566455
ReturnHeader/PreparerPersonGrp/PreparationDt02016-10-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ADEBAMBO SONAIKE CPA
ReturnHeader/ReturnTs02016-10-20T10:57:15-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,222,264
Liabilities
$1,965,350
Net assets
-$743,086
Revenue
$3,252,561
Expenses
$3,092,844
Net income
$159,717
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.01$0.18$0.16
2016Detailed filing. Detailed filing data is available for this year.$1.22$1.97$0.74$3.25$3.09$0.16
2015Detailed filing. Detailed filing data is available for this year.$0.53$1.62$1.08$2.85$3.46$0.61
2014Detailed filing. Detailed filing data is available for this year.$0.35$0.03$0.32$2.04$1.91$0.14
2013Summary only. Only limited summary data is available for this year.$0.20$0.02$0.18$1.53$1.40$0.13
2012Summary only. Only limited summary data is available for this year.$0.09$0.04$0.05$0.30$0.25$0.05