Civic Intelligence

Independence Mission Schools

990 • Fiscal year 2019 • EIN 45-4720688

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 16, 2020

1012 W Thompson StreetPhiladelphia, PA 19405

(610) 200-5100

Siviq Scores

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

Liabilities / Assets

45th percentile

0.20x

Higher debt load relative to assets than 45% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

29th percentile

0.13x

Higher debt load relative to revenue than 29% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

69th percentile

10%

Higher net margin than 69% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

46th percentile

$233,780

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

87th percentile

24%

Faster asset growth than 87% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

78th percentile

17%

Faster revenue growth than 78% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Assets

Up

$23,909,731

Up $4,608,486 (+24%) from 2018

Net Assets

Up

$19,152,620

Up $3,957,338 (+26%) from 2018

Liabilities

Up

$4,757,111

Up $651,148 (+16%) from 2018

Revenue

Up

$36,027,635

Up $5,186,747 (+17%) from 2018

Expenses

Down

$32,265,456

Down $200,501 (-0.6%) from 2018

Net Income

Up

$3,762,179

Up $5,387,248 (+332%) from 2018

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2012: $192,079Liabilities 2012: $0Net Assets 2012: $192,0792012Assets 2013: $1,071,225Liabilities 2013: $59,846Net Assets 2013: $1,011,3792013Assets 2014: $7,512,388Liabilities 2014: $2,844,255Net Assets 2014: $4,668,1332014Assets 2015: $11,448,333Liabilities 2015: $3,130,744Net Assets 2015: $8,317,5892015Assets 2016: $15,178,803Liabilities 2016: $2,535,606Net Assets 2016: $12,643,1972016Assets 2017: $21,068,108Liabilities 2017: $4,247,757Net Assets 2017: $16,820,3512017Assets 2018: $19,301,245Liabilities 2018: $4,105,963Net Assets 2018: $15,195,2822018Assets 2019: $23,909,731Liabilities 2019: $4,757,111Net Assets 2019: $19,152,6202019Assets 2020: $29,413,076Liabilities 2020: $7,740,164Net Assets 2020: $21,672,9122020Assets 2021: $31,809,598Liabilities 2021: $5,812,876Net Assets 2021: $25,996,7222021Assets 2022: $39,191,945Liabilities 2022: $7,433,846Net Assets 2022: $31,758,0992022Assets 2023: $51,632,215Liabilities 2023: $5,334,301Net Assets 2023: $46,297,9142023Assets 2024: $52,246,831Liabilities 2024: $4,653,669Net Assets 2024: $47,593,1622024Assets 2025: $57,585,952Liabilities 2025: $4,942,434Net Assets 2025: $52,643,5182025

Highlighted filing

2019

Assets$23,909,731
Liabilities$4,757,111
Net Assets$19,152,620

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2012: $232,040Expenses 2012: $39,961Net Income 2012: $192,0792012Revenue 2013: $1,493,758Expenses 2013: $674,458Net Income 2013: $819,3002013Revenue 2014: $23,333,812Expenses 2014: $19,677,058Net Income 2014: $3,656,7542014Revenue 2015: $25,883,379Expenses 2015: $22,233,923Net Income 2015: $3,649,4562015Revenue 2016: $30,390,301Expenses 2016: $26,970,988Net Income 2016: $3,419,3132016Revenue 2017: $34,868,373Expenses 2017: $30,691,219Net Income 2017: $4,177,1542017Revenue 2018: $30,840,888Expenses 2018: $32,465,957Net Income 2018: -$1,625,0692018Revenue 2019: $36,027,635Expenses 2019: $32,265,456Net Income 2019: $3,762,1792019Revenue 2020: $29,105,857Expenses 2020: $26,901,677Net Income 2020: $2,204,1802020Revenue 2021: $31,345,958Expenses 2021: $27,839,486Net Income 2021: $3,506,4722021Revenue 2022: $38,175,969Expenses 2022: $31,726,965Net Income 2022: $6,449,0042022Revenue 2023: $46,876,562Expenses 2023: $32,985,292Net Income 2023: $13,891,2702023Revenue 2024: $34,099,277Expenses 2024: $34,700,650Net Income 2024: -$601,3732024Revenue 2025: $36,510,515Expenses 2025: $33,751,989Net Income 2025: $2,758,5262025

Highlighted filing

2019

Revenue$36,027,635
Expenses$32,265,456
Net Income$3,762,179
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 16, 2020
Return Version
2018v3.2
Gross Receipts
$36,140,063
Mission and Program Overview

Mission

Independence mission schools manages a network of catholic elementary schools through a central office location which provides support to all of the schools. The mission of ims is to provide sustainable, affordable, high-quality catholic education to nearly 4,000 children of all faiths in underserved urban neighborhoods through a new model of governance, funding, and accountability for the member schools.

Independence mission schools manages a network of catholic grade schools through a central office location which provides support to all of the schools. Our mission is to provide sustainable, affordable, high-quality catholic education to nearly 5,000 children of all faiths in underserved urban neighborhoods through a new model of governance, funding, and accountability for the member schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$3,910,546$10,101,594▲ $6,191,048
Land, Buildings, and Equipment, Net$6,354,090$6,123,364▼ $230,726
Savings and Temporary Cash Investments$5,301,612$4,243,606▼ $1,058,006
Cash and Non-Interest-Bearing Accounts$595,970$512,584▼ $83,386
Accounts Receivable$93,461$228,858▲ $135,397
Investments in Publicly Traded Securities$15,235$100,877▲ $85,642
Total Assets$19,301,245$23,909,731▲ $4,608,486
Other Assets Total$3,030,331$2,598,848▼ $431,483
Liabilities
Accounts Payable and Accrued Expenses$1,763,842$2,315,107▲ $551,265
Tax Exempt Bond Liabilities$2,342,121$2,271,035▼ $71,086
Other Liabilities-$90,500-
Deferred Revenue-$80,469-
Total Liabilities$4,105,963$4,757,111▲ $651,148
Net Assets / Fund Balance
Unrestricted Net Assets$10,707,658$14,560,125▲ $3,852,467
Temporarily Rstr Net Assets$4,487,624$4,592,495▲ $104,871
Total Net Assets Fund Balance$15,195,282$19,152,620▲ $3,957,338
Total Liabilities and Net Assets / Fund Balance$19,301,245$23,909,731▲ $4,608,486

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,754,778$326,816$5,081,594
Equipment$310,232$1,035,652$1,345,884
Leasehold Improvements$832,997$324,883$1,157,880
Land$224,051-$224,051
Other Land Buildings$1,306$77,373$78,679
Other Assets Org$119,618--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard AulettaFormer PresiFT$225,962$7,818$233,780
Richard AulettaFormer President-$225,962$7,818$233,780
Gregory VincentChief AcademFT$140,000$7,483$147,483
Mary DoyleCOOFT$125,000$10,416$135,416

Board Members and Trustees

NameTitle
Brian McelweeChairman
Anne McgoldrickBoard Member
Bill CurtisBoard Member
Bishop Michael J FitzgeraldBoard Member
Brother Richard KestlerBoard Member
Daniel PickensBoard Member
Jack DonnellyBoard Member
John CavanaughBoard Member
John FiggeBoard Member
Joseph T StapletonBoard Member
Kathy FrielBoard Member
Ken PhelanBoard Member
Marc S RichmanBoard Member
Maris a OggBoard Member
Michael F YoungBoard Member
Michael PiotrowiczBoard Member
Michael S JacksonBoard Member
Michael StephanoBoard Member
Tony CellucciBoard Member
Gerard H SweeneyEmeritus Director
Jim BroussardEmeritus Director
Lorie HowleyEmeritus Director
Mary McdonaldEmeritus Director
Richard NourieEmeritus Director

Highest Paid Contractors

ContractorServicesLocationCompensation
TadsTuition Mgmt110 N 5TH STREET, 2ND FLOOR, Minneapolis, MN 55403$287,066
Jt Miller INCMechanical Cont8511 WEST CHESTER PIKE, SUITE 2, Upper Darby, PA 19082$221,571
SchoolkitEducational Sup1330 OTIS PLACE NW, Washington, DC 20010$148,000
Jp Mascaro And SonsWaste RemovalPO BOX 7250, Audubon, PA 19407$110,727
Revenue and Support

Revenue Composition

Contributions and Grants
$20,791,565
Program Service Revenue
$14,931,892
Investment Income
$20,762
Other Revenue
$283,416
All Other Contributions
$20,791,565
Change in Net Assets
$3,762,179

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeReported AmountValuation Method
Books and Publications$669,130Market Value
Total Noncash Contributions$669,130-

Audited Revenue Reconciliation

Revenue per Audited Statements
$36,027,635
Revenue Not Reported on Form 990
$-2,978,365
Total Revenue per Audited Statements
$33,049,270
Total Revenue per Form 990
$36,027,635
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$21,815,281
Other Expenses$7,276,651
Grants and Similar Amounts Paid$3,173,524
Total Fundraising Expense$1,365,185
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$15,865,449$1,583,620$676,079$18,125,148
Grants to Domestic Individuals$3,173,524--$3,173,524
Other Employee Benefits$1,335,527$36,293$228,609$1,600,429
Payroll Taxes$1,174,414$128,979$24,519$1,327,912
Occupancy$805,142$49,883-$855,025
Insurance$461,239$160,816$1,968$624,023
Depreciation Depletion$83,934$467,916-$551,850
Other Expenses$40,028$293,484$106,227$439,739
All Other Expenses$239,754$149,121$8,075$396,950
Pension Plan Contributions$291,638$89,145$5,047$385,830
Comp Disqual Persons$79,087$90,385$56,490$225,962
Current Officers, Directors, Trustees, and Key Employees$150,000--$150,000
Information Technology$22,761$75,370$1,591$99,722
Interest$65,352--$65,352
Fees for Services Legal-$63,761-$63,761
Advertising$1,005-$48,811$49,816
Fees for Services Accounting-$44,900-$44,900
Total Functional Expenses$27,429,565$3,470,706$1,365,185$32,265,456

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$32,265,456
Expenses per Audited Statements$29,091,932
Total Expenses per Audited Statements$29,091,932
Expenses Not Reported on Financial Statements$3,173,524
Other Expense Adjustments$3,173,524
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$395,844
Fundraising Direct Expenses$112,428
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Events$382,201$382,201$109,031$273,170
Total Events$382,201$382,201$109,031$273,170
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board MemberInsuranceNo$1,567,025
-Board MemberInsuranceNo$627,450
-Board PresidentAccounting ServicesNo$36,850
-Emeritus BmRentNo$23,105
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Others$90,500

Bond Issues

BondIssuerIssuedIssue PricePurpose
AUpper Darby Industrial Development2016-12-28$2,485,000CONSTRUCTION PROJECT

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$2,485,000-$100,701$44,711

Bond Financing Compliance

No rebate due
No
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
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 11B

The finance committee reviews the 990 and recommends to the board of directors that it be approved. A draft of the 990 is provided to all board members prior to filing.

Form 990, Page 6, Part VI, Line 12C

The organization requires officers, directors, trustees, and key employees to annually disclose any conflicts and reviews new vendors and providers with existing dislosures.

Form 990, Page 6, Part VI, Line 15A

The board reviews and approves compensation adjustments for the president and the chief financial officer.

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Philadelphia Independent Mission
EIN
45-4720688
Phone
6102005100
Address
1012 W THOMPSON STREET, PHILADELPHIA, PA 19405
Doing Business As
Independence Mission Schools

Signing Officer

Name
Brian Mcelwee
Title
Chairman
Phone
6102005100
Signed
2020-01-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Mcelwee
Formed
2012
Legal Domicile
Pa
Voting Board Members
19
Independent Board Members
16
Employees
705
Volunteers
85

Preparer

Firm
O'CONNELL & COMPANY LLC
Address
165 TOWNSHIP LINE RD STE 1100, JENKINTOWN, PA 19046
Preparer
Stephanie Klug
Phone
2158874425
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Independence mission schools manages a network of catholic grade schools through a central office location which provides support to all of the schools. Our mission is to provide sustainable, affordable, high-quality catholic education to nearly 5,000 children of all faiths in underserved urban neighborhoods through a new model of governance, funding, and accountability for the member schools.

Financial Statement Notes

Schedule D, Page 3, Part X

Ims is exempt from income tax under irc section 501(c)(3), though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the code. Ims has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations; and to identify and evaluate other matters that may be considered tax positions. Ims has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements.

Schedule D, Page 4, Part XI, Line 2D

FINANCIAL AID -3,173,524

Schedule D, Page 4, Part XII, Line 4B

FINANCIAL AID 3,173,524

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IRS990/ActivityOrMissionDesc0INDEPENDENCE MISSION SCHOOLS MANAGES A NETWORK OF CATHOLIC GRADE SCHOOLS THROUGH A CENTRAL OFFICE LOCATION WHICH PROVIDES SUPPORT TO ALL OF THE SCHOOLS. OUR MISSION IS TO PROVIDE SUSTAINABLE, AFFORDABLE, HIGH-QUALITY CATHOLIC EDUCATION TO NEARLY 5,000 CHILDREN OF ALL FAITHS IN UNDERSERVED URBAN NEIGHBORHOODS THROUGH A NEW MODEL OF GOVERNANCE, FUNDING, AND ACCOUNTABILITY FOR THE MEMBER SCHOOLS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt22EMERITUS DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt23EMERITUS DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt24CHIEF ACADEM
IRS990/Form990PartVIISectionAGrp/TitleTxt25COO
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IRS990/MissionDesc0INDEPENDENCE MISSION SCHOOLS MANAGES A NETWORK OF CATHOLIC GRADE SCHOOLS THROUGH A CENTRAL OFFICE LOCATION WHICH PROVIDES SUPPORT TO ALL OF THE SCHOOLS. OUR MISSION IS TO PROVIDE SUSTAINABLE, AFFORDABLE, HIGH-QUALITY CATHOLIC EDUCATION TO NEARLY 5,000 CHILDREN OF ALL FAITHS IN UNDERSERVED URBAN NEIGHBORHOODS THROUGH A NEW MODEL OF GOVERNANCE, FUNDING, AND ACCOUNTABILITY FOR THE MEMBER SCHOOLS.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$57.6$4.94$52.6$36.5$33.8$2.76
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$52.2$4.65$47.6$34.1$34.7$0.60
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$51.6$5.33$46.3$46.9$33.0$13.9
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.2$7.43$31.8$38.2$31.7$6.45
2021Detailed filing. Detailed filing data is available for this year.$31.8$5.81$26.0$31.3$27.8$3.51
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.4$7.74$21.7$29.1$26.9$2.20
2019Detailed filing. Detailed filing data is available for this year.$23.9$4.76$19.2$36.0$32.3$3.76
2018Detailed filing. Detailed filing data is available for this year.$19.3$4.11$15.2$30.8$32.5$1.63
2017Detailed filing. Detailed filing data is available for this year.$21.1$4.25$16.8$34.9$30.7$4.18
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.2$2.54$12.6$30.4$27.0$3.42
2015Detailed filing. Detailed filing data is available for this year.$11.4$3.13$8.32$25.9$22.2$3.65
2014Detailed filing. Detailed filing data is available for this year.$7.51$2.84$4.67$23.3$19.7$3.66
2013Summary only. Only limited summary data is available for this year.$1.07$0.06$1.01$1.49$0.67$0.82
2012Summary only. Only limited summary data is available for this year.$0.19$0.00$0.19$0.23$0.04$0.19