Civic Intelligence

Edceptional Inc.

990 • Fiscal year 2015 • EIN 45-5281198

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 10, 2016

Organization Profilee3rochester.org
105 Vanguard ParkwayRochester, NY 14606

(585) 737-0553

Siviq Scores

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

Liabilities / Assets

94th percentile

1.09x

Higher debt load relative to assets than 94% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

99th percentile

9.36x

Higher debt load relative to revenue than 99% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Net Margin

9th percentile

-22%

Higher net margin than 9% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Asset Growth

74th percentile

19%

Faster asset growth than 74% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

6th percentile

-41%

Faster revenue growth than 6% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$3,692,077

Up $588,526 (+19%) from 2014

Net Assets

Down

-$346,493

Down $92,959 (-37%) from 2014

Liabilities

Up

$4,038,570

Up $681,485 (+20%) from 2014

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin9th percentile

Revenue

Down

$431,505

Down $300,525 (-41%) from 2014

Expenses

Down

$524,464

Down $244,710 (-32%) from 2014

Net Income

Down

-$92,959

Down $55,815 (-150%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

$10M$5.0M$0-$5.0MAssets 2012: $6,732Liabilities 2012: $02012Assets 2013: $486,661Liabilities 2013: $703,051Net Assets 2013: -$216,3902013Assets 2014: $3,103,551Liabilities 2014: $3,357,085Net Assets 2014: -$253,5342014Assets 2015: $3,692,077Liabilities 2015: $4,038,570Net Assets 2015: -$346,4932015Assets 2016: $8,987,436Liabilities 2016: $8,742,603Net Assets 2016: $244,8332016Assets 2017: $8,390,338Liabilities 2017: $8,482,447Net Assets 2017: -$92,1092017Assets 2018: $8,312,798Liabilities 2018: $8,146,506Net Assets 2018: $166,2922018Assets 2019: $365,920Liabilities 2019: $12,798Net Assets 2019: $353,1222019Assets 2020: $451,977Liabilities 2020: $3,613Net Assets 2020: $448,3642020Assets 2021: $520,988Liabilities 2021: $9,187Net Assets 2021: $511,8012021Assets 2022: $577,479Liabilities 2022: $11,501Net Assets 2022: $565,9782022Assets 2023: $526,059Liabilities 2023: $83,190Net Assets 2023: $442,8692023Assets 2024: $501,430Liabilities 2024: $67,465Net Assets 2024: $433,9652024

Highlighted filing

2015

Assets$3,692,077
Liabilities$4,038,570
Net Assets-$346,493
Open 2015 Filing

Operations Trend

Revenue Growth6th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2012: $61,919Expenses 2012: $55,187Net Income 2012: $6,7322012Revenue 2013: $231,194Expenses 2013: $454,316Net Income 2013: -$223,1222013Revenue 2014: $732,030Expenses 2014: $769,174Net Income 2014: -$37,1442014Revenue 2015: $431,505Expenses 2015: $524,464Net Income 2015: -$92,9592015Revenue 2016: $1,232,887Expenses 2016: $816,701Net Income 2016: $416,1862016Revenue 2017: $1,278,549Expenses 2017: $1,634,040Net Income 2017: -$355,4912017Revenue 2018: $1,353,278Expenses 2018: $1,094,877Net Income 2018: $258,4012018Revenue 2019: $1,005,324Expenses 2019: $818,494Net Income 2019: $186,8302019Revenue 2020: $487,592Expenses 2020: $392,350Net Income 2020: $95,2422020Revenue 2021: $453,938Expenses 2021: $390,501Net Income 2021: $63,4372021Revenue 2022: $482,973Expenses 2022: $428,796Net Income 2022: $54,1772022Revenue 2023: $553,813Expenses 2023: $676,922Net Income 2023: -$123,1092023Revenue 2024: $752,480Expenses 2024: $761,384Net Income 2024: -$8,9042024

Highlighted filing

2015

Revenue$431,505
Expenses$524,464
Net Income-$92,959
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 10, 2016
Return Version
2015v2.0
Gross Receipts
$431,505
Mission and Program Overview

Mission

E3 Rochester Inc. was created to help expand the number of high quality K-12 education seats for low income children living in the city of Rochester by recruiting some of the nations best charter operators to open schools here. In carrying out this mission, we have supported the opening of two schools (PUC Achieve Charter School and Vertus Charter School) and have recruited two more high performance charter operations to apply for charters to open schools in 2016. Once charter operators are recruited, we work to minimize the three challenges they face getting started: (1) funding to cover start-up expenses prior to reaching full enrollment and full funding; (2) locating suitable buildings and assisting with financing, (3) community and political support.

E3 Rochester Inc. was created to help expand the number of high quality K-12 education seats for low income children living in the city of Rochester by recruiting some of the nations best charter operators to open schools here and by supporting local charter school expansions and startups. In carrying out this mission, we have supported the opening of two schools (PUC Achieve Charter School and Vertus Charter School) and have assisted their growth. Once charter operators are recruited, we work to minimize the three challenges they face getting started: (1) funding to cover start-up expenses prior to reaching full enrollment and full funding; (2) locating suitable buildings and assisting with financing, (3) community and political support.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,014,860$3,355,359▲ $340,499
Loans From Officers Directors$307,918$337,918▲ $30,000
Cash and Non-Interest-Bearing Accounts$56,892$299,169▲ $242,277
Intangible Assets$22,427$18,977▼ $3,450
Prepaid Expenses and Deferred Charges$9,350$15,572▲ $6,222
Accounts Receivable$22$0▼ $22
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$3,103,551$3,692,077▲ $588,526
Other Assets Total-$3,000-
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,700,000$3,077,291▲ $377,291
Unsecured Notes Loans Payable$300,000$470,649▲ $170,649
Other Liabilities-$125,504-
Accounts Payable and Accrued Expenses$49,167$27,208▼ $21,959
Total Liabilities$3,357,085$4,038,570▲ $681,485
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$27,750-
Unrestricted Net Assets$-253,534$-374,243▼ $120,709
Total Net Assets Fund Balance$-253,534$-346,493▼ $92,959
Total Liabilities and Net Assets / Fund Balance$3,103,551$3,692,077▲ $588,526

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,805,760$95,091$2,900,851
Buildings$322,776$11,852$334,628
Land$226,823-$226,823
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Joseph KleinChairman
Bryan HickmanVice Chairman
Alex ZapesochnyBoard Member
Dale TwardokusBoard Member
Daniel BurnsBoard Member
Dwayne MahoneyBoard Member
James BrushBoard Member
Kathleen MuscatoBoard Member
Lydia Boddie-riceBoard Member
Rev Sebrone JohnsonBoard Member
Richard KaplanBoard Member
Scott MorrellBoard Member
Stacey ShellsBoard Member
Trent BridgesBoard Member
Meghan SchubmehlSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$261,505
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$170,000
All Other Contributions
$261,505
Change in Net Assets
$-92,959
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$454,896
Salaries, Compensation, and Employee Benefits$59,568
Total Fundraising Expense$40,567
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$164,450$18-$164,468
Depreciation Depletion$79,189--$79,189
Other Salaries and Wages-$18,590$36,488$55,078
Travel$24,268$4,034-$28,302
Office Expenses$19,395$2,971-$22,366
Fees for Services Other-$19,967$250$20,217
Fees for Services Accounting$1,100$14,800-$15,900
Insurance$12,801$902$219$13,922
Grants to Domestic Orgs$10,000--$10,000
Fees for Services Legal$8,525--$8,525
Other Expenses$6,044$6,888-$6,044
All Other Expenses$2,727$1,146$783$4,656
Payroll Taxes-$1,663$2,827$4,490
Conferences and Meetings$1,875$26-$1,901
Total Functional Expenses$412,892$71,005$40,567$524,464
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
Dale TwardokusDirectorExcavationNo$26,231

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$307,918$337,918▲ $30,000
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Fiscal Agency Funds$125,504
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Form 990 will be reviewed by the Chairman and Vice Chairman and presented to the Board of Directors.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Current executive officers serve as volunteers”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
E3 Rochester Inc
EIN
45-5281198
Phone
5857370553
Address
105 VANGUARD PARKWAY, ROCHESTER, NY 14606

Signing Officer

Name
Bryan Hickman
Title
Vice/CHR/treas
Signed
2016-08-10
Discuss with paid preparer
Yes

Organization Details

Formed
2012
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
8
Employees
2
Volunteers
30

Preparer

Firm
LPWolch CPAs PC
Address
40 Office Park Way, Pittsford, NY 14534
Preparer
Donald J Onimus
Phone
5855868830
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Income Taxes - The Organization is exempt from federal income taxes on income generated from activities related to its exempt purpose and federal unemployment insurance under Section 501(c)(3) of the Internal Revenue Code. It is not a private foundation under the Internal Revenue Code.In accordance with ASC 740-10-50, Accounting for Uncertainty in Income Taxes, the Organization recognizes the tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. Management believes that the Organization is currently operating in compliance with the applicable requirements of the Internal Revenue Code. Therefore, no liability for unrecognized tax benefits has been included on the Organizations financial statements. The exempt Organization informational returns are subject to audit by various taxing authorities and its open audit periods are 2013 through 2014.”

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IRS990/MissionDesc0E3 Rochester Inc. was created to help expand the number of high quality K-12 education seats for low income children living in the city of Rochester by recruiting some of the nations best charter operators to open schools here and by supporting local charter school expansions and startups. In carrying out this mission, we have supported the opening of two schools (PUC Achieve Charter School and Vertus Charter School) and have assisted their growth. Once charter operators are recruited, we work to minimize the three challenges they face getting started: (1) funding to cover start-up expenses prior to reaching full enrollment and full funding; (2) locating suitable buildings and assisting with financing, (3) community and political support.
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IRS990/ProgSrvcAccomActy2Grp/Desc0E3 Rochester has had a productive year in 2015 and accomplished the following:A. Assisted the two proven charter management groups E3 recruited to launch their schools serving some of Rochesters most needy children. PUC Achieve Charter School is a middle school for grades 5 8. PUC started with fifth graders and a few sixth graders and will grow to 400 students over the next four years and has developed a warm, nurturing learning environment for their students. Vertus Charter School is a high school for boys that started with just ninth graders in 2014 and will grow to 392 students in grades 9 to 12 over the next four years. Testing on the well regarded NWEA maps tests show that the boys advanced a full two academic years in math and 1.5 years in reading in their first year of the school.B. Conducted community outreach to generate understanding of the need for and practicality of high performing charter schools in Rochester as a way forward in educating low income urban children who have shown little success in the traditional school system.C. Continued work for an expansion of the building at 14 Mark Street in Rochesters NE Quadrant which houses the PUC Achieve Charter School for the eventual construction of a full K-12 campus.
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,692,077
Liabilities
$4,038,570
Net assets
-$346,493
Revenue
$431,505
Expenses
$524,464
Net income
-$92,959
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.07$0.43$0.75$0.76$0.01
2023Summary only. Only limited summary data is available for this year.$0.53$0.08$0.44$0.55$0.68$0.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.58$0.01$0.57$0.48$0.43$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.01$0.51$0.45$0.39$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.45$0.00$0.45$0.49$0.39$0.10
2019Summary only. Only limited summary data is available for this year.$0.37$0.01$0.35$1.01$0.82$0.19
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.31$8.15$0.17$1.35$1.09$0.26
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.39$8.48$0.09$1.28$1.63$0.36
2016Summary only. Only limited summary data is available for this year.$8.99$8.74$0.24$1.23$0.82$0.42
2015Detailed filing. Detailed filing data is available for this year.$3.69$4.04$0.35$0.43$0.52$0.09
2014Detailed filing. Detailed filing data is available for this year.$3.10$3.36$0.25$0.73$0.77$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.49$0.70$0.22$0.23$0.45$0.22
2012Summary only. Only limited summary data is available for this year.$0.01$0.00$0.06$0.06$0.01