Civic Intelligence

Ingenuity Prep

990 • Fiscal year 2019 • EIN 45-5054392

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 05, 2020

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

58th percentile

0.28x

Higher debt load relative to assets than 58% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

32nd percentile

0.11x

Higher debt load relative to revenue than 32% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

48th percentile

2.4%

Higher net margin than 48% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

90th percentile

31%

Faster asset growth than 90% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

78th percentile

19%

Faster revenue growth than 78% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Up

$5,066,447

Up $1,188,394 (+31%) from 2018

Net Assets

Up

$3,648,968

Up $321,988 (+9.7%) from 2018

Liabilities

Up

$1,417,479

Up $866,406 (+157%) from 2018

Revenue

Up

$13,156,346

Up $2,100,600 (+19%) from 2018

Expenses

Up

$12,834,358

Up $2,497,855 (+24%) from 2018

Net Income

Down

$321,988

Down $397,255 (-55%) from 2018

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

2019

Assets$5,066,447
Liabilities$1,417,479
Net Assets$3,648,968

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

2019

Revenue$13,156,346
Expenses$12,834,358
Net Income$321,988
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 5, 2020
Return Version
2018v3.2
Gross Receipts
$13,156,346
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$2,413,620$2,003,705▼ $409,915
Land, Buildings, and Equipment, Net$1,034,935$1,309,772▲ $274,837
Cash and Non-Interest-Bearing Accounts$56,827$1,161,147▲ $1,104,320
Pledges and Grants Receivable$96,265$278,019▲ $181,754
Accounts Receivable$106,727$159,915▲ $53,188
Prepaid Expenses and Deferred Charges$109,247$72,422▼ $36,825
Total Assets$3,878,053$5,066,447▲ $1,188,394
Other Assets Total$60,432$81,467▲ $21,035
Liabilities
Accounts Payable and Accrued Expenses$550,530$1,415,633▲ $865,103
Other Liabilities$543$1,846▲ $1,303
Total Liabilities$551,073$1,417,479▲ $866,406
Net Assets / Fund Balance
Unrestricted Net Assets$3,326,980$3,648,968▲ $321,988
Total Net Assets Fund Balance$3,326,980$3,648,968▲ $321,988
Total Liabilities and Net Assets / Fund Balance$3,878,053$5,066,447▲ $1,188,394

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$578,583$622,814$1,201,397
Leasehold Improvements$731,189$141,835$873,024
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Aaron CunyHead of SchoFT$142,927$6,593$149,520
Hilary Stathes - ChiefTalent OfficFT$122,624$16,075$138,699
William Stoetzer - ChiefExecutive ofFT$129,654$8,190$137,844
Anna HickmanPrincipalFT$110,029$7,828$117,857
Jennifer K Hampton - ChiefAcademic OffFT$100,546$15,682$116,228
Benjamin JohnsonPrincipalFT$102,714$6,587$109,301
Jaquan M BryantPrincipalFT$100,016$6,169$106,185
Darryl Clay - ChiefOperating ofFT$5,267$213$5,480

Board Members and Trustees

NameTitle
Peter WinikChair
Derrick MashoreVice Chair
Cecilia KangBoard Member
Josh RalesBoard Member
Kaya StoneBoard Member
Lisa Mallory - Out GoingBoard Member
Marc BattleBoard Member
Maura MarinoBoard Member
Shawna Jacobs - Out GoingBoard Member
Lydia CarlisSecretary
Nicole Johnson-douglasSecretary
Debra SantosTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Revolution Foods INCFood ServicesPO BOX 742759, Los Angeles, CA 90074$405,811
Urban TeachersEmployment1800 WASHINGTON BLVD, Baltimore, MD 21230$178,750
Ellis Therapeutic Consultants INCTherapeutic641 S STREET NW 3RD FLOOR, Washington, DC 20001$177,059
City Year INCStudent Support287 COLUMBUS AVE, Boston, MA 02116$147,500
Revenue and Support

Revenue Composition

Contributions and Grants
$1,375,226
Program Service Revenue
$11,777,942
Investment Income
$3,178
Other Revenue
$0
All Other Contributions
$40,265
Change in Net Assets
$321,988

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,156,346
Total Revenue per Audited Statements
$13,156,346
Total Revenue per Form 990
$13,156,346
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,300,824
Other Expenses$4,533,534
Total Fundraising Expense$109,642
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,370,950$235,531$63,655$6,670,136
Occupancy$1,561,186$75,182$13,842$1,650,210
Fees for Services Other$717,890$40,618-$758,508
Other Employee Benefits$575,941$24,776$6,482$607,199
Payroll Taxes$539,426$25,473$6,344$571,243
Current Officers, Directors, Trustees, and Key Employees$273,632$81,453$14,957$370,042
Office Expenses$267,346$12,875-$280,221
Depreciation Depletion$209,103$10,070-$219,173
Other Expenses$170,225$11,427$1,509$183,161
Fees for Services Accounting$32,651$107,860-$140,511
All Other Expenses$112,489$20,518-$133,007
Information Technology$90,002$4,334-$94,336
Pension Plan Contributions$78,529$2,925$750$82,204
Advertising$28,783--$28,783
Insurance$26,755$1,288-$28,043
Travel$24,619$1,186$219$26,024
Fees for Services Legal$5,201$17,182-$22,383
Total Functional Expenses$12,041,783$682,933$109,642$12,834,358

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,834,358
Total Expenses per Audited Statements$12,834,358
Total Expenses per Form 990$12,834,358
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
State Taxes$1,003
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 and it is posted on the website of the dc public charter school board. 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
William Stoetzer - Chief
Title
Executive Officer
Phone
2025620391
Signed
2020-06-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Stoetzer
Formed
2012
Legal Domicile
Dc
Voting Board Members
11
Independent Board Members
10
Employees
137
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

Ingenuity prep public charter school prepares students to succeed in college and beyond as impactful civic leaders. With this aim, the charter school opened in washington, dc, in august of 2013 and intends on expanding to serve over 800 students in preschool through 8th grade. Ingenuity prep's model offers an extended-day and extended year schedule, providing increased opportunities to deliver rigorous instruction, enrichment, and remediation. Over the course of a school year, students at ingenuity prep benefit from almost 30% more learning time than their peers at neighboring district schools. With more learning time and increased efficiency in its model, ingenuity prep offers an educational program that prepares students for mastery of 1) rigorous core content and 2) a broader set of 21st century civic leadership competencies. Through its model, ingenuity prep leverages high-quality online learning programs to provide adaptive, independent practice opportunities targeted at students' individual needs and respective zones of proximal development. Utilizing this digital content and multiple qualified teachers in each classroom, ingenuity prep is able to consistently provide accountable, personalized, independent and small-group learning experiences. With a teacher-student ratio unparalleled by most other schools in the city, at ingenuity prep, each classroom is supported by between 2-3 highly-qualified teachers -- from prek through elementary school. Ingenuity prep's teachers are specialized (i.e., they teach a more focused set of content than traditional teachers). They engage in extensive coaching and professional development on this specialized set of content, allowing them to develop a deeper foundation of content knowledge than their "more generalized" teacher peers across the city. Ingenuity prep's teachers also engage in over 300 hours of training every year -- led by some of the best instructional leaders in the city. Teachers received a dedicated coach who met with them weekly to ensure that they were receiving feedback critical to improving their work with students. In a february 2019 staff survey, 82% of teachers reported that feedback from their manager helped them improve their practice. Ingenuity prep has an innovative teacher career ladder that 1) leverages an apprenticeship model to scaffold and support the growth of new teachers, and 2) offers highly effective teachers the opportunity to earn highly- competitive compensation levels and mentor newer teachers. With the belief that mastery of rigorous core content - while necessary - is not sufficient to prepare students for the demands of 21st century leadership, ingenuity prep is building its own civic leadership program around four pillars: social-emotional literacy, collaborative problem- solving, a social-justice-focused social studies and science curriculum, and service learning.

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, 2019 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, 2019, the statute of limitations for tax years 2015 through 2017 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, 2019, 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 CHARTER SCHOOL OPENED IN WASHINGTON, DC, IN AUGUST OF 2013 AND INTENDS ON EXPANDING TO SERVE OVER 800 STUDENTS IN PRESCHOOL THROUGH 8TH GRADE. INGENUITY PREP'S MODEL OFFERS AN EXTENDED-DAY AND EXTENDED YEAR SCHEDULE, PROVIDING INCREASED OPPORTUNITIES TO DELIVER RIGOROUS INSTRUCTION, ENRICHMENT, AND REMEDIATION. OVER THE COURSE OF A SCHOOL YEAR, STUDENTS AT INGENUITY PREP BENEFIT FROM ALMOST 30% MORE LEARNING TIME THAN THEIR PEERS AT NEIGHBORING DISTRICT SCHOOLS. WITH MORE LEARNING TIME AND INCREASED EFFICIENCY IN ITS MODEL, INGENUITY PREP OFFERS AN EDUCATIONAL PROGRAM THAT PREPARES STUDENTS FOR MASTERY OF 1) RIGOROUS CORE CONTENT AND 2) A BROADER SET OF 21ST CENTURY CIVIC LEADERSHIP COMPETENCIES. THROUGH ITS MODEL, INGENUITY PREP LEVERAGES HIGH-QUALITY ONLINE LEARNING PROGRAMS TO PROVIDE ADAPTIVE, INDEPENDENT PRACTICE OPPORTUNITIES TARGETED AT STUDENTS' INDIVIDUAL NEEDS AND RESPECTIVE ZONES OF PROXIMAL DEVELOPMENT. UTILIZING THIS DIGITAL CONTENT AND MULTIPLE QUALIFIED TEACHERS IN EACH CLASSROOM, INGENUITY PREP IS ABLE TO CONSISTENTLY PROVIDE ACCOUNTABLE, PERSONALIZED, INDEPENDENT AND SMALL-GROUP LEARNING EXPERIENCES. WITH A TEACHER-STUDENT RATIO UNPARALLELED BY MOST OTHER SCHOOLS IN THE CITY, AT INGENUITY PREP, EACH CLASSROOM IS SUPPORTED BY BETWEEN 2-3 HIGHLY-QUALIFIED TEACHERS -- FROM PREK THROUGH ELEMENTARY SCHOOL. INGENUITY PREP'S TEACHERS ARE SPECIALIZED (I.E., THEY TEACH A MORE FOCUSED SET OF CONTENT THAN TRADITIONAL TEACHERS). THEY ENGAGE IN EXTENSIVE COACHING AND PROFESSIONAL DEVELOPMENT ON THIS SPECIALIZED SET OF CONTENT, ALLOWING THEM TO DEVELOP A DEEPER FOUNDATION OF CONTENT KNOWLEDGE THAN THEIR "MORE GENERALIZED" TEACHER PEERS ACROSS THE CITY. INGENUITY PREP'S TEACHERS ALSO ENGAGE IN OVER 300 HOURS OF TRAINING EVERY YEAR -- LED BY SOME OF THE BEST INSTRUCTIONAL LEADERS IN THE CITY. TEACHERS RECEIVED A DEDICATED COACH WHO MET WITH THEM WEEKLY TO ENSURE THAT THEY WERE RECEIVING FEEDBACK CRITICAL TO IMPROVING THEIR WORK WITH STUDENTS. IN A FEBRUARY 2019 STAFF SURVEY, 82% OF TEACHERS REPORTED THAT FEEDBACK FROM THEIR MANAGER HELPED THEM IMPROVE THEIR PRACTICE. INGENUITY PREP HAS AN INNOVATIVE TEACHER CAREER LADDER THAT 1) LEVERAGES AN APPRENTICESHIP MODEL TO SCAFFOLD AND SUPPORT THE GROWTH OF NEW TEACHERS, AND 2) OFFERS HIGHLY EFFECTIVE TEACHERS THE OPPORTUNITY TO EARN HIGHLY- COMPETITIVE COMPENSATION LEVELS AND MENTOR NEWER TEACHERS. WITH THE BELIEF THAT MASTERY OF RIGOROUS CORE CONTENT - WHILE NECESSARY - IS NOT SUFFICIENT TO PREPARE STUDENTS FOR THE DEMANDS OF 21ST CENTURY LEADERSHIP, INGENUITY PREP IS BUILDING ITS OWN CIVIC LEADERSHIP PROGRAM AROUND FOUR PILLARS: SOCIAL-EMOTIONAL LITERACY, COLLABORATIVE PROBLEM- SOLVING, A SOCIAL-JUSTICE-FOCUSED SOCIAL STUDIES AND SCIENCE CURRICULUM, AND SERVICE LEARNING.
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