Civic Intelligence

Central Queens Academy Charter School

990 • Fiscal year 2017 • EIN 45-3686922

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 07, 2018

55-30 Junction BlvdElmhurst, NY 11373

(718) 271-6200

Siviq Scores

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

Liabilities / Assets

38th percentile

0.17x

Higher debt load relative to assets than 38% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

39th percentile

0.11x

Higher debt load relative to revenue than 39% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Net Margin

77th percentile

17%

Higher net margin than 77% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

66th percentile

$170,000

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Asset Growth

86th percentile

37%

Faster asset growth than 86% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

43rd percentile

3.9%

Faster revenue growth than 43% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Up

$5,183,139

Up $1,409,006 (+37%) from 2016

Net Assets

Up

$4,305,384

Up $1,287,531 (+43%) from 2016

Liabilities

Up

$877,755

Up $121,475 (+16%) from 2016

Revenue

Up

$7,803,040

Up $292,220 (+3.9%) from 2016

Expenses

Up

$6,515,509

Up $750,268 (+13%) from 2016

Net Income

Down

$1,287,531

Down $458,048 (-26%) from 2016

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2012: $536,281Liabilities 2012: $262,298Net Assets 2012: $273,9832012Assets 2013: $1,470,063Liabilities 2013: $386,651Net Assets 2013: $1,083,4122013Assets 2014: $1,181,885Liabilities 2014: $516,804Net Assets 2014: $665,0812014Assets 2015: $2,070,237Liabilities 2015: $797,963Net Assets 2015: $1,272,2742015Assets 2016: $3,774,133Liabilities 2016: $756,280Net Assets 2016: $3,017,8532016Assets 2017: $5,183,139Liabilities 2017: $877,755Net Assets 2017: $4,305,3842017Assets 2018: $6,349,182Liabilities 2018: $1,246,858Net Assets 2018: $5,102,3242018Assets 2019: $9,003,512Liabilities 2019: $998,913Net Assets 2019: $8,004,5992019Assets 2020: $10,930,903Liabilities 2020: $2,173,297Net Assets 2020: $8,757,6062020Assets 2021: $11,574,386Liabilities 2021: $1,092,909Net Assets 2021: $10,481,4772021Assets 2022: $14,405,586Liabilities 2022: $1,718,290Net Assets 2022: $12,687,2962022Assets 2023: $104,823,277Liabilities 2023: $90,579,289Net Assets 2023: $14,243,9882023Assets 2024: $111,688,506Liabilities 2024: $94,094,638Net Assets 2024: $17,593,8682024Assets 2025: $145,630,354Liabilities 2025: $126,586,049Net Assets 2025: $19,044,3052025

Highlighted filing

2017

Assets$5,183,139
Liabilities$877,755
Net Assets$4,305,384

Operations Trend

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

$40M$30M$20M$10M$0-$10MRevenue 2012: $763,911Expenses 2012: $489,928Net Income 2012: $273,9832012Revenue 2013: $3,113,679Expenses 2013: $2,304,250Net Income 2013: $809,4292013Revenue 2014: $3,627,595Expenses 2014: $4,045,926Net Income 2014: -$418,3312014Revenue 2015: $5,816,112Expenses 2015: $5,208,919Net Income 2015: $607,1932015Revenue 2016: $7,510,820Expenses 2016: $5,765,241Net Income 2016: $1,745,5792016Revenue 2017: $7,803,040Expenses 2017: $6,515,509Net Income 2017: $1,287,5312017Revenue 2018: $7,778,974Expenses 2018: $6,982,034Net Income 2018: $796,9402018Revenue 2019: $9,736,475Expenses 2019: $6,834,200Net Income 2019: $2,902,2752019Revenue 2020: $8,470,933Expenses 2020: $7,717,926Net Income 2020: $753,0072020Revenue 2021: $9,960,474Expenses 2021: $8,118,895Net Income 2021: $1,841,5792021Revenue 2022: $12,175,425Expenses 2022: $9,969,606Net Income 2022: $2,205,8192022Revenue 2023: $18,880,619Expenses 2023: $17,323,927Net Income 2023: $1,556,6922023Revenue 2024: $23,176,953Expenses 2024: $19,827,073Net Income 2024: $3,349,8802024Revenue 2025: $31,019,580Expenses 2025: $29,569,143Net Income 2025: $1,450,4372025

Highlighted filing

2017

Revenue$7,803,040
Expenses$6,515,509
Net Income$1,287,531
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 7, 2018
Return Version
2016v3.0
Gross Receipts
$7,874,760
Mission and Program Overview

Mission

The mission of the central queens academy charter school is to prepare students for success in education, the workforce, and the community though a school that integrates literacy, high standards-based academics, and culturally responsive supportive services.

Central Queens Academy Charter School is a Public Charter School serving the students and families of Elmhurst, Queens & Community School District 24 of the City of New York.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,296,720$3,281,456▲ $984,736
Pledges and Grants Receivable$316,046$744,616▲ $428,570
Cash and Non-Interest-Bearing Accounts$448,493$635,007▲ $186,514
Land, Buildings, and Equipment, Net$502,151$310,747▼ $191,404
Prepaid Expenses and Deferred Charges$98,543$99,133▲ $590
Accounts Receivable-$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$3,774,133$5,183,139▲ $1,409,006
Other Assets Total$112,180$112,180→ $0
Liabilities
Accounts Payable and Accrued Expenses$731,199$841,784▲ $110,585
Other Liabilities$25,081$25,395▲ $314
Deferred Revenue-$10,576-
Total Liabilities$756,280$877,755▲ $121,475
Net Assets / Fund Balance
Unrestricted Net Assets$2,967,853$3,940,641▲ $972,788
Temporarily Rstr Net Assets$50,000$364,743▲ $314,743
Total Net Assets Fund Balance$3,017,853$4,305,384▲ $1,287,531
Total Liabilities and Net Assets / Fund Balance$3,774,133$5,183,139▲ $1,409,006

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$226,846$618,757$845,603
Equipment$36,918$252,320$289,238
Other Land Buildings$46,983$97,915$144,898
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ashish KapadiaHead of SchoolFT$170,000-$170,000
Suyin SoExecutive DirectorFT$129,202$3,876$133,078
DeeAnn MartellAsst. PrincipalFT$123,908$3,717$127,625
Glenn LiebeckAsst. PrincipalFT$120,305$3,609$123,914
Therese PaskoffDirector of OperationsFT$118,538$3,556$122,094
Michelle DalpiazCFOFT$111,301-$111,301
Kenesha McDonaldDeanFT$108,175-$108,175

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$7,788,083
Program Service Revenue
$0
Investment Income
$12,500
Other Revenue
$2,457
All Other Contributions
$469,103
Change in Net Assets
$1,287,531

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 Traded4$33,139Fair Market Value (FMV)
Total Noncash Contributions4$33,139-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,803,040
Revenue Not Reported on Form 990
$248,181
Total Revenue per Audited Statements
$8,051,221
Total Revenue per Form 990
$7,803,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,690,898
Other Expenses$1,824,611
Total Fundraising Expense$240,916
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,435,087$275,277$62,449$3,772,813
Occupancy$909,064$92,023$28,877$1,029,964
Payroll Taxes$299,410$30,309$9,511$339,230
Other Employee Benefits$237,901$24,082$7,557$269,540
Current Officers, Directors, Trustees, and Key Employees-$184,055$70,555$254,610
Depreciation Depletion$215,422$21,807$6,843$244,072
All Other Expenses$86,595$12,111$2,505$101,211
Fees for Services Other$66,373$10,055$5,280$81,708
Insurance$61,278$6,203$1,946$69,427
Pension Plan Contributions$48,283$4,888$1,534$54,705
Information Technology$35,008$3,544$1,112$39,664
Other Expenses$25,274$2,558$803$28,635
Fees for Services Accounting-$24,250-$24,250
Office Expenses$19,708$1,995$626$22,329
Fees for Services Legal-$2,579-$2,579
Travel$459$46$15$520
Total Functional Expenses$5,578,811$695,782$240,916$6,515,509

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,763,690
Expenses per Audited Statements$6,515,509
Total Expenses per Form 990$6,515,509
Expenses Not Reported on Form 990$248,181
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$71,720
Fundraising Gross Income$71,720
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$322,789$71,720$71,720$0
Total Events$322,789$71,720$71,720-
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
Deferred Rent$25,395
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
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
No

Governance Explanations

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

Management reviewed a draft of the form 990 with the audit/finance committee and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS.

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

The organization has a "board approved" conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions.

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

Each year, the executive committee reviews the performance of the executive director and head of school. The executive committee considers comparable salaries for these positions based on a recognized study. After a deliberation of this matter, a new proposed salary and benefit package is approved and documented by the board of directors.

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

Each year, the executive director and head of school review the performance of their respective direct reports (CFO and other key employees). They consider comparable salaries for these positions based on a recognized study and approve and document a new salary and benefit package for these employees.

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

Federal tax law does not require that such documents be made publicly available except as part of a form that is publicly available such as form 1023 or form 1024.

Filing and Contact Details

Filer

Filer Name
Central Queens Academy Charter School
EIN
45-3686922
Phone
7182716200
Address
55-30 Junction Blvd, Elmhurst, NY 11373

Signing Officer

Name
Suyin So
Title
Executive Director
Signed
2018-02-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Suyin So
Formed
2011
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
72
Volunteers
8

Preparer

Firm
Schall & Ashenfarb Cpas
Address
307 5th Ave 15th Floor, NEW YORK, NY 10016-6517
Preparer
Michael Schall
Phone
2122682800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The School does not believe its financial statements include any material, uncertain tax positions. Tax filings for the periods ending June 30, 2014 and later are subject to examination by applicable taxing authorities.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt11Dean
IRS990/Form990PartVIISectionAGrp/TitleTxt12Dir. of Operations
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IRS990/InformationTechnologyGrp/TotalAmt039664
IRS990/InsuranceGrp/FundraisingAmt01946
IRS990/InsuranceGrp/ManagementAndGeneralAmt06203
IRS990/InsuranceGrp/ProgramServicesAmt061278
IRS990/InsuranceGrp/TotalAmt069427
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IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt012500
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IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/OperateHospitalInd0false
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IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt024082
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0237901
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0269540
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IRS990/OtherExpensesGrp/Desc3Equipment
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IRS990/OtherExpensesGrp/FundraisingAmt1803
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IRS990/OtherExpensesGrp/ProgramServicesAmt225274
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0299410
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IRS990/PYOtherExpensesAmt01550579
IRS990/PYOtherRevenueAmt02932
IRS990/PYRevenuesLessExpensesAmt01745579
IRS990/PYSalariesCompEmpBnftPaidAmt04214662
IRS990/PYTotalExpensesAmt05765241
IRS990/PYTotalRevenueAmt07510820
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01287531
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02296720
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03281456
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0248181

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$146$127$19.0$31.0$29.6$1.45
2024Detailed filing. Detailed filing data is available for this year.$112$94.1$17.6$23.2$19.8$3.35
2023Detailed filing. Detailed filing data is available for this year.$105$90.6$14.2$18.9$17.3$1.56
2022Detailed filing. Detailed filing data is available for this year.$14.4$1.72$12.7$12.2$9.97$2.21
2021Detailed filing. Detailed filing data is available for this year.$11.6$1.09$10.5$9.96$8.12$1.84
2020Detailed filing. Detailed filing data is available for this year.$10.9$2.17$8.76$8.47$7.72$0.75
2019Detailed filing. Detailed filing data is available for this year.$9.00$1.00$8.00$9.74$6.83$2.90
2018Detailed filing. Detailed filing data is available for this year.$6.35$1.25$5.10$7.78$6.98$0.80
2017Detailed filing. Detailed filing data is available for this year.$5.18$0.88$4.31$7.80$6.52$1.29
2016Detailed filing. Detailed filing data is available for this year.$3.77$0.76$3.02$7.51$5.77$1.75
2015Detailed filing. Detailed filing data is available for this year.$2.07$0.80$1.27$5.82$5.21$0.61
2014Detailed filing. Detailed filing data is available for this year.$1.18$0.52$0.67$3.63$4.05$0.42
2013Summary only. Only limited summary data is available for this year.$1.47$0.39$1.08$3.11$2.30$0.81
2012Summary only. Only limited summary data is available for this year.$0.54$0.26$0.27$0.76$0.49$0.27