Civic Intelligence

Independence Mission Schools

990 • Fiscal year 2016 • EIN 45-4720688

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 04, 2017

Organization Profilewww.independencemissionschools.org

View Organization Page

640 Freedom Business Center DrKing Of Prussia, PA 19406

(610) 200-5100

Siviq Scores

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

Liabilities / Assets

39th percentile

0.17x

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

17th percentile

0.08x

Higher debt load relative to revenue than 17% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

73rd percentile

11%

Higher net margin than 73% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

34th percentile

$189,057

Higher top officer pay than 34% of similar nonprofits.

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

92nd percentile

33%

Faster asset growth than 92% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

79th percentile

17%

Faster revenue growth than 79% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$15,178,803

Up $3,730,470 (+33%) from 2015

Net Assets

Up

$12,643,197

Up $4,325,608 (+52%) from 2015

Liabilities

Down

$2,535,606

Down $595,138 (-19%) from 2015

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin73rd percentile

Revenue

Up

$30,390,301

Up $4,506,922 (+17%) from 2015

Expenses

Up

$26,970,988

Up $4,737,065 (+21%) from 2015

Net Income

Down

$3,419,313

Down $230,143 (-6.3%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

2016

Assets$15,178,803
Liabilities$2,535,606
Net Assets$12,643,197
Open 2016 Filing

Operations Trend

Revenue Growth79th percentile

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

2016

Revenue$30,390,301
Expenses$26,970,988
Net Income$3,419,313
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 4, 2017
Return Version
2015v3.0
Gross Receipts
$30,648,486
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 15 Catholic grade schools through a central office location which provides support to all 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
Cash and Non-Interest-Bearing Accounts$4,142,829$8,301,144▲ $4,158,315
Pledges and Grants Receivable$5,176,978$3,426,851▼ $1,750,127
Land, Buildings, and Equipment, Net$1,805,176$3,023,931▲ $1,218,755
Accounts Receivable$304,014$331,466▲ $27,452
Investments in Publicly Traded Securities$17,424$47,109▲ $29,685
Total Assets$11,448,333$15,178,803▲ $3,730,470
Other Assets Total$1,912$48,302▲ $46,390
Liabilities
Accounts Payable and Accrued Expenses$2,164,494$1,596,769▼ $567,725
Mortgage Notes Payable Secured by Investment Property$966,250$927,500▼ $38,750
Deferred Revenue-$11,337-
Total Liabilities$3,130,744$2,535,606▼ $595,138
Net Assets / Fund Balance
Unrestricted Net Assets$2,318,776$7,799,392▲ $5,480,616
Temporarily Rstr Net Assets$5,998,813$4,843,805▼ $1,155,008
Total Net Assets Fund Balance$8,317,589$12,643,197▲ $4,325,608
Total Liabilities and Net Assets / Fund Balance$11,448,333$15,178,803▲ $3,730,470

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,012,855-$2,012,855
Leasehold Improvements$584,716$108,828$693,544
Equipment$220,114$172,296$392,410
Land$199,891-$199,891
Other Land Buildings$6,355$68,998$75,353
Compensation and Service Providers
Top Officer Pay34th percentile

Employees

NameTitleBaseOtherTotal
Bishop Michael FitzgeraldBoard Member$178,615$10,442$189,057
Anne Mcgoldrick-$178,615$10,442$189,057
Aldo Cavalli-$139,231-$139,231
Michael JacksonBoard Member$139,230-$139,230

Board Members and Trustees

NameTitle
Brian McelweeChairman
Aldo CavalliPast President
Anne McgoldrickPresident
Brother Richard KestlerBoard Member
Daniel PickensBoard Member
Dr Mary McdonaldBoard Member
Gerard SweeneyBoard Member
James BroussardBoard Member
John DonnellyBoard Member
John FiggeBoard Member
Ken PhelanBoard Member
Lauralee HowleyBoard Member
Linda DejureBoard Member
Marc RichmanBoard Member
Michael RashidBoard Member
Michael YoungBoard Member
Richard NourieBoard Member
William CurtisBoard Member
Joseph StapletonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$16,705,900
Program Service Revenue
$13,448,537
Investment Income
$11,090
Other Revenue
$224,774
All Other Contributions
$16,705,900
Change in Net Assets
$3,419,313

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$599,096market value
Total Noncash Contributions$599,096-

Audited Revenue Reconciliation

Revenue per Audited Statements
$30,390,301
Revenue Not Reported on Form 990
$-977,006
Total Revenue per Audited Statements
$29,413,295
Total Revenue per Form 990
$30,390,301
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$19,138,492
Other Expenses$6,256,394
Total Fundraising Expense$1,587,519
Grants and Similar Amounts Paid$1,576,102
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$13,555,013$1,686,488$826,245$16,067,746
Grants to Domestic Individuals$1,576,102--$1,576,102
Occupancy$1,136,360$141,383$69,267$1,347,010
Other Employee Benefits$1,125,151$139,989$68,584$1,333,724
All Other Expenses$1,292,147$0$3,000$1,295,147
Payroll Taxes$973,940$121,176$59,366$1,154,482
Office Expenses$668,484$83,172$40,747$792,403
Fees for Services Other$573,986$71,414$34,987$680,387
Other Expenses$645,998$0$0$645,998
Insurance$411,631$51,214$25,091$487,936
Pension Plan Contributions$340,758$42,396$20,771$403,925
Current Officers, Directors, Trustees, and Key Employees$150,683$18,747$9,185$178,615
Depreciation Depletion$108,468$13,495$6,612$128,575
Information Technology$112,742$0$0$112,742
Travel$71,045$8,839$4,330$84,214
Fees for Services Accounting$0$55,650$0$55,650
Advertising$0$0$38,755$38,755
Fees for Services Legal$0$16,548$0$16,548
Total Functional Expenses$22,932,958$2,450,511$1,587,519$26,970,988

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$26,970,988
Expenses per Audited Statements$25,993,982
Total Expenses per Audited Statements$25,993,982
Expenses Not Reported on Financial Statements$977,006
Other Expense Adjustments$977,006
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$482,959
Fundraising Direct Expenses$258,185
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising$482,958$482,958$258,186$224,772
Total Events$482,958$482,958$258,186$224,772
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 MemberRentNo$27,366
-Board MemberAcademic ConsultingNo$20,414
Dr Mary McdonaldBoard MemberInsuranceNo$19,156
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
Filing and Contact Details

Filer

Filer Name
Philadelphia Independent Mission Schools
EIN
45-4720688
Phone
6102005100
Address
640 Freedom Business Center Dr, King Of Prussia, PA 19406

Signing Officer

Name
Anne Mcgoldrick
Title
President
Phone
6102005100
Signed
2017-01-04
Discuss with paid preparer
Yes

Organization Details

Formed
2012
Legal Domicile
Pa
Voting Board Members
19
Independent Board Members
19
Employees
680
Volunteers
100

Preparer

Firm
O'Connell & Company LLC
Address
Ste 1100 165 Township Line Road, Jenkintown, PA 19046
Preparer
TERENCE M O'CONNELL
Phone
2158874425
Supplemental Narrative

Additional Explanations

Pt VI, Line 4

“Certain directors of IMS have business relationships among themselves in matters entirely unnrelated to IMS.”

Other

“The finance committee reviews and approves the 990, and recommends acceptance to the full board. A draft of the 990 is provided to all board members prior to filing.”

Pt VI, Line 12C

“Requiring annual disclosure of conflicts and review of new vendors and providers with existing disclosures.”

Pt VI, Line 15A

“The President was hired through a search firm which provided review and input on initial compensation at the date of hire. During the current fiscal year, the Board reviewed and approved compensation adjustments for the President and Chief Financial Officer.”

Other

“Changes from prior year's presentation have been made due to audit.”

Pt XI

“There were no activities at St. Martin de Porres School, LLC during the fiscal year ended June 30, 2015. St. Martin de Porres School, LLC received a transfer of assets of $906,295 on July 1, 2015 from the Friends of Saint Martin de Porres School, which prviously operated Saint Martin de Porres School.”

Pt VI, Line 11B

“The finance committee reviews and approves the 990, and the recommends acceptance to the full board. A draft of the 990 is provided to all board members prior to filing.”

Form 990, Part IX, Line 24E

“NDS/Lunch Expenses -1286. -1286. 0. 0.”

Form 990, Part IX, Line 24E

“Public Relations 3000. 0. 0. 3000.”

Form 990, Part IX, Line 24E

“School Transportation 43655. 43655. 0. 0.”

Form 990, Part IX, Line 24E

“Instructional Materials 449778. 449778. 0. 0.”

Form 990, Part IX, Line 24E

“Transfer to CSF 800000. 800000. 0. 0.”

Financial Statement Notes

Pt XI, Line 2D

“Financial aid of $1,576,102 is reported as an expense on the 990, but net of tuition income on the audit report.”

Pt X, Line 2

“IMS adopted the accounting standard related to the recognition and measurement of uncertain tax positions. The adoption of this standard had no financial statement effect for IMS.”

Pt XII, Line 4B

“Financial aid of $1,576,102 is reported as an expense on the 990, but net of tuition income on the audit report. In-Kind textbooks of $599,096 are not reported on the 990 as they are reported on the audit report as both revenue and an expense. Financial aid less in-kind textbooks is $977,006.”

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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$15,178,803
Liabilities
$2,535,606
Net assets
$12,643,197
Revenue
$30,390,301
Expenses
$26,970,988
Net income
$3,419,313
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
2016Detailed filing. Detailed filing data is available for this year.$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