Civic Intelligence

Ingenuity Prep

990 • Fiscal year 2017 • EIN 45-5054392

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 10, 2018

4600 Livingston Road SEWashington, DC 20032

(202) 562-0391

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.18x

Higher debt load relative to assets than 52% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

30th percentile

0.07x

Higher debt load relative to revenue than 30% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

34th percentile

-0.7%

Higher net margin than 34% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

67th percentile

9.8%

Faster asset growth than 67% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

59th percentile

8.4%

Faster revenue growth than 59% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Up

$3,191,688

Up $285,266 (+9.8%) from 2016

Net Assets

Down

$2,607,737

Down $54,752 (-2.1%) from 2016

Liabilities

Up

$583,951

Up $340,018 (+139%) from 2016

Revenue

Up

$7,892,655

Up $609,770 (+8.4%) from 2016

Expenses

Up

$7,947,407

Up $2,065,824 (+35%) from 2016

Net Income

Down

-$54,752

Down $1,456,054 (-104%) from 2016

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2014: $824,529Liabilities 2014: $202,433Net Assets 2014: $622,0962014Assets 2015: $1,437,029Liabilities 2015: $175,842Net Assets 2015: $1,261,1872015Assets 2016: $2,906,422Liabilities 2016: $243,933Net Assets 2016: $2,662,4892016Assets 2017: $3,191,688Liabilities 2017: $583,951Net Assets 2017: $2,607,7372017Assets 2018: $3,878,053Liabilities 2018: $551,073Net Assets 2018: $3,326,9802018Assets 2019: $5,066,447Liabilities 2019: $1,417,479Net Assets 2019: $3,648,9682019Assets 2020: $4,665,111Liabilities 2020: $795,447Net Assets 2020: $3,869,6642020Assets 2021: $6,189,682Liabilities 2021: $1,180,326Net Assets 2021: $5,009,3562021Assets 2022: $7,016,769Liabilities 2022: $1,420,909Net Assets 2022: $5,595,8602022Assets 2023: $10,482,925Liabilities 2023: $1,543,064Net Assets 2023: $8,939,8612023Assets 2024: $32,399,395Liabilities 2024: $21,422,410Net Assets 2024: $10,976,9852024

Highlighted filing

2017

Assets$3,191,688
Liabilities$583,951
Net Assets$2,607,737

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2014: $2,944,515Expenses 2014: $2,484,010Net Income 2014: $460,5052014Revenue 2015: $4,663,485Expenses 2015: $4,024,394Net Income 2015: $639,0912015Revenue 2016: $7,282,885Expenses 2016: $5,881,583Net Income 2016: $1,401,3022016Revenue 2017: $7,892,655Expenses 2017: $7,947,407Net Income 2017: -$54,7522017Revenue 2018: $11,055,746Expenses 2018: $10,336,503Net Income 2018: $719,2432018Revenue 2019: $13,156,346Expenses 2019: $12,834,358Net Income 2019: $321,9882019Revenue 2020: $15,385,205Expenses 2020: $15,164,509Net Income 2020: $220,6962020Revenue 2021: $17,892,639Expenses 2021: $16,752,947Net Income 2021: $1,139,6922021Revenue 2022: $21,090,575Expenses 2022: $20,504,071Net Income 2022: $586,5042022Revenue 2023: $25,128,237Expenses 2023: $21,784,236Net Income 2023: $3,344,0012023Revenue 2024: $26,459,798Expenses 2024: $24,422,674Net Income 2024: $2,037,1242024

Highlighted filing

2017

Revenue$7,892,655
Expenses$7,947,407
Net Income-$54,752
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 10, 2018
Return Version
2016v3.1
Gross Receipts
$7,892,655
Mission and Program Overview

Mission

Ingenuity prep public charter school prepares its students to succeed in college and beyond as impactful civic leaders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,001,910$1,505,667▲ $503,757
Land, Buildings, and Equipment, Net$907,481$967,236▲ $59,755
Cash and Non-Interest-Bearing Accounts$804,038$480,983▼ $323,055
Prepaid Expenses and Deferred Charges$56,130$75,673▲ $19,543
Pledges and Grants Receivable$99,052$61,668▼ $37,384
Accounts Receivable$26,708$40,349▲ $13,641
Total Assets$2,906,422$3,191,688▲ $285,266
Other Assets Total$11,103$60,112▲ $49,009
Liabilities
Accounts Payable and Accrued Expenses$234,174$564,505▲ $330,331
Deferred Revenue$9,759$19,446▲ $9,687
Total Liabilities$243,933$583,951▲ $340,018
Net Assets / Fund Balance
Unrestricted Net Assets$2,549,989$2,607,737▲ $57,748
Temporarily Rstr Net Assets$112,500--
Total Net Assets Fund Balance$2,662,489$2,607,737▼ $54,752
Total Liabilities and Net Assets / Fund Balance$2,906,422$3,191,688▲ $285,266

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$390,446$323,009$713,455
Leasehold Improvements$576,790$66,189$642,979
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Aaron CunyHead of SchoFT$133,435$9,403$142,838
Will StoetzerChief OperatFT$113,448$8,152$121,600

Board Members and Trustees

NameTitle
Peter WinikChair
Debra SantosVice Chair
Cecilia KangBoard Member
Cheryl BookerBoard Member
Derrick MashoreBoard Member
Lisa MalloryBoard Member
Marc BattleBoard Member
Marliz RodriguezBoard Member
Maura MarinoBoard Member
Wanda Perez - Out GoingBoard Member
Lydia CarlisSecretary
Jimmy HendersonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Revolution Foods INCFood ServicesPO BOX 742759, Los Angeles, CA 90074$260,086
Urban TeachersEmployment1800 WASHINGTON BLVD, Baltimore, MD 21230$125,000
Revenue and Support

Revenue Composition

Contributions and Grants
$762,492
Program Service Revenue
$7,129,416
Investment Income
$747
Other Revenue
$0
All Other Contributions
$149,135
Change in Net Assets
$-54,752

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,892,655
Revenue Not Reported on Form 990
$129,962
Total Revenue per Audited Statements
$8,022,617
Total Revenue per Form 990
$7,892,655
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,800,956
Other Expenses$3,146,451
Total Fundraising Expense$107,665
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,627,071$120,849$50,785$3,798,705
Occupancy$997,326$43,221$16,615$1,057,162
Other Employee Benefits$332,022$12,128$4,942$349,092
Payroll Taxes$308,036$13,349$5,132$326,517
Fees for Services Other$259,292$65,548$495$325,335
Current Officers, Directors, Trustees, and Key Employees$216,288$48,339$13,928$278,555
Office Expenses$218,806$9,483$3,646$231,935
Depreciation Depletion$146,848$6,363$2,446$155,657
Other Expenses$117,908$5,110$1,964$124,982
Fees for Services Accounting$103,070$4,467$1,717$109,254
All Other Expenses$65,683$15,656$62$81,401
Pension Plan Contributions$45,804$1,616$667$48,087
Information Technology$42,817$1,856$713$45,386
Travel$35,280$1,529$588$37,397
Insurance$15,677$679$261$16,617
Fees for Services Legal$6,876$298$114$7,288
Total Functional Expenses$7,479,912$359,830$107,665$7,947,407

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,077,369
Expenses per Audited Statements$7,947,407
Total Expenses per Form 990$7,947,407
Expenses Not Reported on Form 990$129,962
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board TreasurerEmployee TrainingNo$84,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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 board treasurer of ingenuity prep along with its outsourced bookkeeping firm review the draft form 990 information tax return, as prepared by the accountants/auditors and recommends it to the full board of directors for acceptance, including possible revisions. Once accepted, the 990 tax return is executed by the chief operating officer.

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

The conflict of interest policy is constantly monitored by administration personnel and the board of directors through review and approval procedures. Annually board members and staff complete a conflict of interest disclosure form identifying any relationships or circumstances which the board or staff member believes could contribute to a conflict of interest. Procedures: a.prior to board action on a contract or other transaction involving a conflict of interest, a board member having a conflict of interest shall disclose all facts material to the conflict of interest. Such disclosure shall be reflected in the minutes of the meeting. B.a person who has a conflict of interest shall not participate in the decision except to disclose material facts and to respond to questions. C.the person having a conflict of interest may not vote on the contract or transaction. D.staff members who have a conflict of interest with respect to a contract or transaction that is not the subject of board action shall disclose to the board chair any such conflict of interest. That staff member shall refrain from any action that may affect ingenuity prep's participation in such contract or transaction. In the event it is not entirely clear that a conflict of interest exists, the individual with potential conflict shall disclose the circumstances to the board chair.

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

The head of school's compensation is determined and approved by the board through its compensation committee using written employment contracts, form 990's of other organizations and other appropriate information related to comparable positions of similar sized organizations. Other employees' compensation is determined using similar sources and approved by the head of school.

Form 990, Page 6, Part VI, Line 19

All governing documents, policies and financial statements are forwarded to the district of columbia public charter school board which provides oversight and distribution of relevant information to the public. The form 990 is made available upon request. In addition, the 990 information tax return is available for public inspection on guidestar.

Filing and Contact Details

Filer

Filer Name
Ingenuity Prep
EIN
45-5054392
Phone
2025620391
Address
4600 LIVINGSTON ROAD SE, WASHINGTON, DC 20032

Signing Officer

Name
Will Stoetzer
Title
Chief Operating Ofcr
Phone
2025620391
Signed
2018-04-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Will Stoetzer
Formed
2012
Legal Domicile
Dc
Voting Board Members
12
Independent Board Members
11
Employees
81
Volunteers
12

Preparer

Firm
Kendall Prebola and Jones LLC
Address
PO BOX 259, BEDFORD, PA 15522-0259
Preparer
Richard M Jones CPA
Phone
8146231880
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Providing increased opportunities to deliver rigorous instruction, enrichment and remediation for a wide-range of content. In addition to strong programs in literacy and math, students take classes aimed at cultivating 21st century skills. All students take civic leadership, a class focused on social-emotional competency, team problem- solving, and service learning; information, media, and technology literacy, a class aimed at making students critical information age consumers and high-capacity users of technology; and a foreign language class. Additionally, 21st century themes of financial, health, and environmental literacy are integrated across content areas. Utilizing a blended learning model, the charter school creatively organizes classroom instruction. In the literacy and math classrooms, teachers harness high-quality online learning programs and digital content to provide adaptive delivery of instruction targeted at students' individual needs and respective zones of proximal development. Through a rotational model, instruction is delivered to small groups of students, with an approximate student-teacher ratio in these groups of 8:1 during the literacy and math blocks and 16:1 in all other content areas.

Financial Statement Notes

Schedule D, Page 3, Part X

Accounting principles generally accepted in the united states of america provide consistent guidance for the accounting for uncertainty in income taxes recognized in the charter school's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. The ingenuity prep public charter school performed an evaluation of uncertain tax positions for the year ended june 30, 2017, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. As of june 30, 2017, the statute of limitations for tax years 2013 through 2015 remains open with the u.s. Federal jurisdiction or the various states and local jurisdictions in which the charter school files tax returns. It is the charter school's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. As of june 30, 2017, the charter school had no accruals for interest and/or penalties.

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IRS990/Desc0INGENUITY PREP PUBLIC CHARTER SCHOOL PREPARES STUDENTS TO SUCCEED IN COLLEGE AND BEYOND AS IMPACTFUL CIVIC LEADERS. WITH THIS AIM, THE SCHOOL OPENED IN WASHINGTON, DC, IN AUGUST OF 2013 AND INTENDS ON EXPANDING TO SERVE OVER 700 STUDENTS IN PRESCHOOL THROUGH 8TH GRADE. THROUGH HIGHLY-EFFECTIVE, DATA-DRIVEN INSTRUCTION AND THE FOLLOWING STRATEGIES, THE CHARTER SCHOOL ADDRESSES THE LEARNING NEEDS OF ITS STUDENT BODY: THE CHARTER SCHOOL OFFERS AN EXTENDED-DAY (8 A.M. - 4:10 P.M.) AND EXTENDED YEAR (190 DAYS + 20 DAYS FOR STUDENTS BELOW GRADE-LEVEL) SCHEDULE, PROVIDING INCREASED OPPORTUNITIES TO DELIVER RIGOROUS INSTRUCTION, ENRICHMENT AND REMEDIATION FOR A WIDE-RANGE OF CONTENT. IN ADDITION TO STRONG PROGRAMS IN LITERACY AND MATH, STUDENTS TAKE CLASSES AIMED AT CULTIVATING 21ST CENTURY SKILLS. ALL STUDENTS TAKE CIVIC LEADERSHIP, A CLASS FOCUSED ON SOCIAL-EMOTIONAL COMPETENCY, TEAM PROBLEM- SOLVING, AND SERVICE LEARNING; INFORMATION, MEDIA, AND TECHNOLOGY LITERACY, A CLASS AIMED AT MAKING STUDENTS CRITICAL INFORMATION AGE CONSUMERS AND HIGH-CAPACITY USERS OF TECHNOLOGY; AND A FOREIGN LANGUAGE CLASS. ADDITIONALLY, 21ST CENTURY THEMES OF FINANCIAL, HEALTH, AND ENVIRONMENTAL LITERACY ARE INTEGRATED ACROSS CONTENT AREAS. UTILIZING A BLENDED LEARNING MODEL, THE CHARTER SCHOOL CREATIVELY ORGANIZES CLASSROOM INSTRUCTION. IN THE LITERACY AND MATH CLASSROOMS, TEACHERS HARNESS HIGH-QUALITY ONLINE LEARNING PROGRAMS AND DIGITAL CONTENT TO PROVIDE ADAPTIVE DELIVERY OF INSTRUCTION TARGETED AT STUDENTS' INDIVIDUAL NEEDS AND RESPECTIVE ZONES OF PROXIMAL DEVELOPMENT. THROUGH A ROTATIONAL MODEL, INSTRUCTION IS DELIVERED TO SMALL GROUPS OF STUDENTS, WITH AN APPROXIMATE STUDENT-TEACHER RATIO IN THESE GROUPS OF 8:1 DURING THE LITERACY AND MATH BLOCKS AND 16:1 IN ALL OTHER CONTENT AREAS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE CHARTER SCHOOL'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE INGENUITY PREP PUBLIC CHARTER SCHOOL PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2017, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF JUNE 30, 2017, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2013 THROUGH 2015 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE CHARTER SCHOOL FILES TAX RETURNS. IT IS THE CHARTER SCHOOL'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. AS OF JUNE 30, 2017, THE CHARTER SCHOOL HAD NO ACCRUALS FOR INTEREST AND/OR PENALTIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS A PUBLIC CHARTER SCHOOL AND IS OPERATING UNDER A CONTRACT WITH THE D.C. GOVERNMENT. REVENUE PROCEDURE 75-50 DOES NOT APPLY TO CHARTER SCHOOLS. THE NON-DISCRIMINATORY POLICY IS EXPLICITLY STATED IN THE REGISTRATION APPLICATION AND OUR BROCHURE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL IS A PUBLIC CHARTER SCHOOL AND IS OPERATING UNDER A CONTRACT WITH THE D.C. GOVERNMENT. REVENUE PROCEDURE 75-50 DOES NOT APPLY TO CHARTER SCHOOLS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2INGENUITY PREP PUBLIC CHARTER SCHOOL RECEIVES PUBLIC FUNDS FROM THE DC GOVERNMENT BASED ON THE NUMBER OF STUDENTS THEY ENROLL ACCORDING TO THE UNIFORM PER STUDENT FUNDING FORMULA DEVELOPED BY THE MAYOR AND CITY COUNCIL. THIS PER PUPIL ALLOCATION IS SUPPLEMENTED WITH EXTRA FUNDS FOR STUDENTS WITH SPECIAL NEEDS. THE CHARTER SCHOOL ALSO RECEIVES GOVERNMENTAL ASSISTANCE IN THE FORM OF YEARLY GOVERNMENTAL GRANTS. MOST FUNDS ARE RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION PASSED THROUGH THE OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION IN THE DISTRICT OF COLUMBIA.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, LINE 6
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD TREASURER

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