Civic Intelligence

Propel Charter School - Pitcairn

990 • Fiscal year 2015 • EIN 45-5249938

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 11, 2016

3447 East Carson StPittsburgh, PA 15203

(412) 325-7305

Siviq Scores

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

Liabilities / Assets

97th percentile

1.48x

Higher debt load relative to assets than 97% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

84th percentile

1.32x

Higher debt load relative to revenue than 84% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

71st percentile

12%

Higher net margin than 71% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

71st percentile

$173,450

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

91st percentile

37%

Faster asset growth than 91% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

82nd percentile

25%

Faster revenue growth than 82% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

$4,816,034

No earlier filing loaded for comparison.

Net Assets

-$2,290,802

No earlier filing loaded for comparison.

Liabilities

$7,106,836

No earlier filing loaded for comparison.

Revenue

$5,402,590

No earlier filing loaded for comparison.

Expenses

$4,752,035

No earlier filing loaded for comparison.

Net Income

$650,555

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2015: $4,816,034Liabilities 2015: $7,106,836Net Assets 2015: -$2,290,8022015Assets 2017: $5,250,602Liabilities 2017: $7,223,929Net Assets 2017: -$1,973,3272017Assets 2018: $5,223,562Liabilities 2018: $7,136,305Net Assets 2018: -$1,912,7432018Assets 2019: $4,543,583Liabilities 2019: $6,741,914Net Assets 2019: -$2,198,3312019Assets 2021: $3,575,860Liabilities 2021: $6,194,929Net Assets 2021: -$2,619,0692021Assets 2022: $2,999,102Liabilities 2022: $5,886,319Net Assets 2022: -$2,887,2172022Assets 2024: $2,937,343Liabilities 2024: $5,064,973Net Assets 2024: -$2,127,6302024

Highlighted filing

2015

Assets$4,816,034
Liabilities$7,106,836
Net Assets-$2,290,802

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $5,402,590Expenses 2015: $4,752,035Net Income 2015: $650,5552015Revenue 2017: $5,347,535Expenses 2017: $5,450,685Net Income 2017: -$103,1502017Revenue 2018: $5,480,970Expenses 2018: $5,420,386Net Income 2018: $60,5842018Revenue 2019: $5,531,377Expenses 2019: $5,622,801Net Income 2019: -$91,4242019Revenue 2021: $5,463,030Expenses 2021: $5,457,703Net Income 2021: $5,3272021Revenue 2022: $5,171,075Expenses 2022: $5,418,259Net Income 2022: -$247,1842022Revenue 2024: $5,941,683Expenses 2024: $5,333,447Net Income 2024: $608,2362024

Highlighted filing

2015

Revenue$5,402,590
Expenses$4,752,035
Net Income$650,555
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 11, 2016
Return Version
2014v6.0
Gross Receipts
$5,402,590
Mission and Program Overview

Mission

Charter school for students in

Charter school for students in Kindergarten through Seventh grade. Propel's mission is to catalyze the transformation of public education so that all children have access to high performing public schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,178,821$2,001,344▼ $177,477
Cash and Non-Interest-Bearing Accounts$334,465$757,481▲ $423,016
Savings and Temporary Cash Investments$368,291$750,196▲ $381,905
Accounts Receivable$285,054$497,241▲ $212,187
Prepaid Expenses and Deferred Charges$240,000$210,000▼ $30,000
Pledges and Grants Receivable$104,794$29,837▼ $74,957
Rtn Earn Endowment Incm Other Fnds$1,244,818$-2,290,802▼ $3,535,620
Total Assets$3,511,425$4,816,034▲ $1,304,609
Other Assets Total-$569,935-
Liabilities
Other Liabilities$207,271$4,971,255▲ $4,763,984
Mortgage Notes Payable Secured by Investment Property$1,932,036$1,812,355▼ $119,681
Accounts Payable and Accrued Expenses$127,300$323,226▲ $195,926
Total Liabilities$2,266,607$7,106,836▲ $4,840,229
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,244,818$-2,290,802▼ $3,535,620
Total Liabilities and Net Assets / Fund Balance$3,511,425$4,816,034▲ $1,304,609

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,734,558$147,612$1,882,170
Equipment$266,786$216,483$483,269
Other Assets Org$569,935--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tina ChekanSuperintendent, CEO-$13,549$159,901$173,450
Tina Chekan--$130,301$43,149$173,450
Robert BischoffPrincipalFT$106,221$33,631$139,852
Darryl RobinsonBusiness Manager-$10,332$105,126$115,458

Board Members and Trustees

NameTitle
Wendy Etheridge SmithTrustee-President
Kristin HughesTrustee
Patrick KennyTrustee
Roland CriswellTrustee
William J AxtmanTrustee
Joshua CothermanTrustee-Secretary
Thomas CanfieldTrustee-Treasurer
Stewart B BarmenTrustee-V. Pres.
Revenue and Support

Revenue Composition

Contributions and Grants
$246,752
Program Service Revenue
$5,155,493
Investment Income
$345
Other Revenue
$0
Change in Net Assets
$650,555

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,402,590
Total Revenue per Audited Statements
$5,402,590
Total Revenue per Form 990
$5,402,590
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,925,480
Other Expenses$1,826,555
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,907,555$0$0$1,907,555
Fees for Services Other$572,556$25,881$0$598,437
Pension Plan Contributions$514,235$0$0$514,235
Other Employee Benefits$361,120$0$0$361,120
Information Technology$221,146$17,552$0$238,698
Depreciation Depletion$205,946$0$0$205,946
Fees for Services Management$0$163,292$0$163,292
Payroll Taxes$142,570$0$0$142,570
Fees for Services Accounting$0$114,691$0$114,691
Office Expenses$106,229$0$0$106,229
Other Expenses$102,093$0$0$102,093
Interest$75,556$0$0$75,556
Occupancy$73,968$0$0$73,968
Travel$49,844$0$0$49,844
Insurance$12,050$0$0$12,050
Advertising$5,938$0$0$5,938
Fees for Services Legal$0$3,874$0$3,874
All Other Expenses$2,775$0$0$2,775
Conferences and Meetings$2,376$0$0$2,376
Total Functional Expenses$4,426,745$325,290$0$4,752,035

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,752,035
Total Expenses per Audited Statements$4,752,035
Total Expenses per Form 990$4,752,035
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
Net Pension Liability$4,512,000
Deferred inflows of resources related to pensions$323,000
Payable to Related Organizations$136,255
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
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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
Propel Charter School - Pitcairn
EIN
45-5249938
Phone
4123257305
Address
3447 East Carson St, Pittsburgh, PA 15203

Signing Officer

Name
Charles Daane
Title
CFO
Phone
4123257305
Signed
2016-02-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tina Chekan
Formed
2011
Legal Domicile
Pa
Voting Board Members
8
Independent Board Members
8
Employees
91
Volunteers
11

Preparer

Firm
Hosack Specht Muetzel & Wood LLP
Address
305 Mount Lebanon Blvd, Pittsburgh, PA 15234-1500
Preparer
Peter J Vancheri CPA
Phone
4123439200
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The Form 990 was made available for the full Board to review and The Form 990 was approved by the Board before filing with the IRS.

Pt VI, Line 12C

All trustees and officers are required to complete a conflict of interest statement annually.

Pt VI, Line 15A

Compensation for the Superintendent is set annually by the Board of Trustees following a review by the Board's Executive Committee. As part of the process the Executive Committee considers compensation levels at other Western Pennsylvania nonprofit organizations and school districts as reported in salary surveys of the United Way and the Pennsylvania School Boards Association.

Pt VI, Line 15B

Compensation for other officers follows the same procedures as noted for Pt VI, Line 15a.

Pt VI, Line 19

Documents are available to the public upon request.

Pt XI

Restatement of beginning net assets due to the implementation of GASB # 68 relating to financial reporting of pensions. The result is a decrease in beginning net assets balance of ($4,046,529)

Pt XI

Recognition of accrued salaries and benefits at June 30, 2014. The result is a decrease in beginning net assets balance of ($139,646)

Pt XII, Line 2C

The Audit Committee meets with the auditors at the end of the audit process.

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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0210000
IRS990/PrincipalOfficerNm0TINA CHEKAN
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0216483
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THROUGH ITS BROCHURES AND OTHER INFORMATION PROVIDED TO ITS PROSPECTIVE STUDENTS AND THEIR PARENTS. THROUGH ITS BROCHURES AND OTHER INFORMATION PROVIDED TO ITS PROSPECTIVE STUDENTS AND THEIR PARENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVES FINANCIAL ASSISTANCE IN THE FORM OF SUBSIDY PAYMENTS AND FEDERAL GRANTS FROM THE PENNSYLVANIA DEPARTMENT OF EDUCATION AND THE ALLEGHENY INTERMEDIATE UNIT #3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
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IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true

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