Civic Intelligence

Ingenuity Prep

990 • Fiscal year 2020 • EIN 45-5054392

Jul 01, 2019 to Jun 30, 2020 • Filed on May 05, 2021

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

45th percentile

0.17x

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

16th percentile

0.05x

Higher debt load relative to revenue than 16% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

41st percentile

1.4%

Higher net margin than 41% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

49th percentile

$170,990

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

8th percentile

-7.9%

Faster asset growth than 8% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

75th percentile

17%

Faster revenue growth than 75% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Down

$4,665,111

Down $401,336 (-7.9%) from 2019

Net Assets

Up

$3,869,664

Up $220,696 (+6.0%) from 2019

Liabilities

Down

$795,447

Down $622,032 (-44%) from 2019

Revenue

Up

$15,385,205

Up $2,228,859 (+17%) from 2019

Expenses

Up

$15,164,509

Up $2,330,151 (+18%) from 2019

Net Income

Down

$220,696

Down $101,292 (-31%) from 2019

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

2020

Assets$4,665,111
Liabilities$795,447
Net Assets$3,869,664

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

2020

Revenue$15,385,205
Expenses$15,164,509
Net Income$220,696
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 5, 2021
Return Version
2019v5.0
Gross Receipts
$15,385,205
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$2,003,705$1,698,666▼ $305,039
Land, Buildings, and Equipment, Net$1,309,772$1,625,335▲ $315,563
Cash and Non-Interest-Bearing Accounts$1,161,147$828,618▼ $332,529
Pledges and Grants Receivable$278,019$149,265▼ $128,754
Accounts Receivable$159,915$137,225▼ $22,690
Prepaid Expenses and Deferred Charges$72,422$98,709▲ $26,287
Total Assets$5,066,447$4,665,111▼ $401,336
Other Assets Total$81,467$127,293▲ $45,826
Liabilities
Accounts Payable and Accrued Expenses$1,415,633$776,548▼ $639,085
Mortgage Notes Payable Secured by Investment Property-$18,899-
Other Liabilities$1,846--
Total Liabilities$1,417,479$795,447▼ $622,032
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,648,968$3,869,664▲ $220,696
Total Net Assets Fund Balance$3,648,968$3,869,664▲ $220,696
Total Liabilities and Net Assets / Fund Balance$5,066,447$4,665,111▼ $401,336

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$661,530$847,054$1,508,584
Leasehold Improvements$963,805$212,962$1,176,767
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William StoetzerChief ExecutFT$159,530$11,460$170,990
William StoetzerChief Executive Offi-$154,530$16,460$170,990
Hilary Stathes - Outgoing ChiefTalent OfficFT$127,861$17,665$145,526
Jennifer K Hampton - ChiefAcademic OffFT$125,774$15,979$141,753
Darryl Clay - OutgoingCOOFT$121,934$12,816$134,750
Jazmine AllenPrincipalFT$115,360$6,448$121,808
Benjamin JohnsonPrincipalFT$111,310$9,637$120,947
Lauren HollowellAssistant PrFT$103,301$9,460$112,761
Aaron Cuny - OutgoingHead of SchoFT$72,428$2,949$75,377

Board Members and Trustees

NameTitle
Peter WinikChair
Derrick MashoreVice Chair
Cecilia KangBoard Member
Josh RalesBoard Member
Kaya StoneBoard Member
Lisa MalloryBoard Member
Lydia Carlis - OutgoingBoard Member
Marc Battle - OutgoingBoard Member
Maura MarinoBoard Member
Patricia MartinBoard Member
Tracy LondonBoard Member
Vinice DavisBoard Member
Nicole Johnson-douglasSecretary
Debra Santos - OutgoingTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Revolution Foods INCFood ServicesPO BOX 742759, Los Angeles, CA 90074$476,545
Ellis Therapeutic Consultants INCTherapeutic641 S STREET NW 3RD FLOOR, Washington, DC 20001$203,211
Swing Education INCTeachersDEPT LA 24916, Pasadena, CA 91185$122,969
Revenue and Support

Revenue Composition

Contributions and Grants
$1,625,110
Program Service Revenue
$13,757,989
Investment Income
$2,106
Other Revenue
$0
All Other Contributions
$188,263
Change in Net Assets
$220,696

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,385,205
Revenue Not Reported on Form 990
$118,488
Total Revenue per Audited Statements
$15,503,693
Total Revenue per Form 990
$15,385,205
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,598,553
Other Expenses$5,553,956
Total Fundraising Expense$57,725
Professional Fundraising Fees$12,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,482,919$314,307-$7,797,226
Occupancy$1,941,944$95,979$3,368$2,041,291
Fees for Services Other$762,629$31,516$7,395$801,540
Other Employee Benefits$705,355$34,082$2,616$742,053
Payroll Taxes$663,815$32,075$2,462$698,352
Office Expenses$621,617$13,590-$635,207
Depreciation Depletion$281,545$13,823-$295,368
Current Officers, Directors, Trustees, and Key Employees$204,514$57,005$28,502$290,021
Fees for Services Accounting-$153,595-$153,595
Advertising$141,930$6,968$244$149,142
Other Expenses$116,241$20,513$717$136,754
Information Technology$114,376$5,615-$119,991
All Other Expenses$83,612$7,604$116$91,332
Pension Plan Contributions$67,395$3,256$250$70,901
Insurance$33,007$1,620-$34,627
Travel$31,892$1,566$55$33,513
Fees for Services Legal$23,656$8,194-$31,850
Fees for Services Professional Fundraising--$12,000$12,000
Interest$915$45-$960
Total Functional Expenses$14,285,005$821,779$57,725$15,164,509

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$15,282,997
Expenses per Audited Statements$15,164,509
Total Expenses per Form 990$15,164,509
Expenses Not Reported on Form 990$118,488
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$12,000
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Title
Chief Executive Offi
Phone
2025620391
Signed
2021-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Stoetzer
Formed
2012
Legal Domicile
Dc
Voting Board Members
12
Independent Board Members
12
Employees
182
Volunteers
14

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, 2020, 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, 2020, the statute of limitations for tax years 2016 through 2018 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, 2020, 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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