Civic Intelligence

Community College Preparatory Academy Public Charter School

990 • Fiscal year 2018 • EIN 46-0682130

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 09, 2019

2405 Martin L King Jr Ave SEWashington, DC 20020

(202) 610-5780

Siviq Scores

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

Liabilities / Assets

49th percentile

0.15x

Higher debt load relative to assets than 49% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

22nd percentile

0.04x

Higher debt load relative to revenue than 22% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

64th percentile

8.5%

Higher net margin than 64% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

64th percentile

$155,090

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

91st percentile

40%

Faster asset growth than 91% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

73rd percentile

17%

Faster revenue growth than 73% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Up

$2,252,412

Up $638,039 (+40%) from 2017

Net Assets

Up

$1,908,411

Up $665,199 (+54%) from 2017

Liabilities

Down

$344,001

Down $27,160 (-7.3%) from 2017

Revenue

Up

$7,826,253

Up $1,113,713 (+17%) from 2017

Expenses

Up

$7,161,054

Up $1,530,714 (+27%) from 2017

Net Income

Down

$665,199

Down $417,001 (-39%) from 2017

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2014: $273,633Liabilities 2014: $315,349Net Assets 2014: -$41,7162014Assets 2015: $345,465Liabilities 2015: $347,259Net Assets 2015: -$1,7942015Assets 2016: $245,345Liabilities 2016: $84,333Net Assets 2016: $161,0122016Assets 2017: $1,614,373Liabilities 2017: $371,161Net Assets 2017: $1,243,2122017Assets 2018: $2,252,412Liabilities 2018: $344,001Net Assets 2018: $1,908,4112018Assets 2019: $3,772,294Liabilities 2019: $1,025,592Net Assets 2019: $2,746,7022019Assets 2020: $5,319,168Liabilities 2020: $121,019Net Assets 2020: $5,198,1492020Assets 2021: $8,485,837Liabilities 2021: $195,272Net Assets 2021: $8,290,5652021Assets 2022: $11,313,740Liabilities 2022: $209,109Net Assets 2022: $11,104,6312022Assets 2023: $26,406,123Liabilities 2023: $13,583,630Net Assets 2023: $12,822,4932023Assets 2024: $28,822,744Liabilities 2024: $13,979,491Net Assets 2024: $14,843,2532024

Highlighted filing

2018

Assets$2,252,412
Liabilities$344,001
Net Assets$1,908,411

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2014: $1,522,062Expenses 2014: $1,564,033Net Income 2014: -$41,9712014Revenue 2015: $2,935,648Expenses 2015: $2,895,726Net Income 2015: $39,9222015Revenue 2016: $4,250,513Expenses 2016: $4,087,707Net Income 2016: $162,8062016Revenue 2017: $6,712,540Expenses 2017: $5,630,340Net Income 2017: $1,082,2002017Revenue 2018: $7,826,253Expenses 2018: $7,161,054Net Income 2018: $665,1992018Revenue 2019: $8,338,734Expenses 2019: $7,500,443Net Income 2019: $838,2912019Revenue 2020: $8,528,440Expenses 2020: $6,076,993Net Income 2020: $2,451,4472020Revenue 2021: $9,120,973Expenses 2021: $6,028,557Net Income 2021: $3,092,4162021Revenue 2022: $9,739,731Expenses 2022: $6,925,665Net Income 2022: $2,814,0662022Revenue 2023: $9,301,583Expenses 2023: $7,583,721Net Income 2023: $1,717,8622023Revenue 2024: $10,440,553Expenses 2024: $8,419,793Net Income 2024: $2,020,7602024

Highlighted filing

2018

Revenue$7,826,253
Expenses$7,161,054
Net Income$665,199
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 9, 2019
Return Version
2017v2.3
Gross Receipts
$7,837,613
Mission and Program Overview

Mission

The mission of the community college preparatory academy public charter school is to provide the education and skills development to empower and prepare under-credited adults for postsecondary educational success, viable employment and lifelong learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$521,010$1,657,071▲ $1,136,061
Cash and Non-Interest-Bearing Accounts$499,350$261,300▼ $238,050
Land, Buildings, and Equipment, Net$315,558$229,270▼ $86,288
Prepaid Expenses and Deferred Charges$15,947$42,244▲ $26,297
Accounts Receivable$218,413$35,250▼ $183,163
Pledges and Grants Receivable$16,522--
Total Assets$1,614,373$2,252,412▲ $638,039
Other Assets Total$27,573$27,277▼ $296
Liabilities
Accounts Payable and Accrued Expenses$218,992$335,711▲ $116,719
Deferred Revenue$151,606--
Mortgage Notes Payable Secured by Investment Property$563$7,910▲ $7,347
Other Liabilities-$380-
Total Liabilities$371,161$344,001▼ $27,160
Net Assets / Fund Balance
Unrestricted Net Assets$1,243,212$1,908,411▲ $665,199
Total Net Assets Fund Balance$1,243,212$1,908,411▲ $665,199
Total Liabilities and Net Assets / Fund Balance$1,614,373$2,252,412▲ $638,039

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$214,246$395,279$609,525
Leasehold Improvements$15,024$21,570$36,594
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cornelia V SpinnerExecutive DiFT$139,622$15,468$155,090
Cornelia V SpinnerExecutive Director-$139,622$15,468$155,090
Monica Jones - Director ofOperationsFT$126,885$16,087$142,972
Thomas Gore - Director of StudentSupport ServFT$119,830$15,202$135,032

Board Members and Trustees

NameTitle
Monica RayChair
Philip PannellVice Chair
Hayden WilliamsBoard Member
Jenane Jackson - Out GoingBoard Member
John StokesBoard Member
Keyonna JonesBoard Member
Marilyn HamiltonBoard Member
Nadira MajiedBoard Member
Thomas StewartBoard Member
Debra SantosTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
R Emmanuel Bell ConsultingConsulting3230 PENNSYLVANIA AVE SE, SUITE 240, Washington, DC 20020$600,000
Pearson EducationEducation SuppoPO BOX 409479, Atlanta, GA 30384$305,176
Capital Services Management INCJanitorial3200 MARTIN LUTHER KING JR AVE SE, Washington, DC 20032$116,647
District Computers LLCComputer Tech10202 GREEN FOREST DR, Silver Spring, MD 20903$111,973
Revenue and Support

Revenue Composition

Contributions and Grants
$74,446
Program Service Revenue
$7,761,728
Investment Income
$-9,921
Other Revenue
$0
All Other Contributions
$41,530
Change in Net Assets
$665,199

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,826,253
Total Revenue per Audited Statements
$7,826,253
Total Revenue per Form 990
$7,826,253
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,236,794
Salaries, Compensation, and Employee Benefits$2,924,260
Total Fundraising Expense$50,498
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,817,099$224,117$13,261$2,054,477
Occupancy$1,171,669$228,885$11,464$1,412,018
Current Officers, Directors, Trustees, and Key Employees$178,494$171,615$6,599$356,708
Other Employee Benefits$246,783$42,763$2,105$291,651
Payroll Taxes$163,944$32,027$1,604$197,575
Depreciation Depletion$118,880$23,224$1,163$143,267
Fees for Services Other$111,778--$111,778
Office Expenses$87,788$17,150$859$105,797
Information Technology$80,059$15,640-$95,699
Fees for Services Accounting$76,300$14,905-$91,205
Other Expenses$58,036$11,337-$69,373
All Other Expenses$14,354$18,261$13,271$45,886
Pension Plan Contributions$20,180$3,497$172$23,849
Advertising$9,977$1,949-$11,926
Insurance$2,934$573-$3,507
Fees for Services Legal-$1,350-$1,350
Interest-$875-$875
Total Functional Expenses$6,286,513$824,043$50,498$7,161,054

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,161,054
Total Expenses per Audited Statements$7,161,054
Total Expenses per Form 990$7,161,054
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 Income Taxes$250
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 executive director and director of operations review the 990 and then forward the form 990 to the treasurer for review and presentation to the board of directors for approval. Once approved the treasurer notifies the executive director of the board's approval to file the 990 tax return.

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

The conflict of interest policy is reviewed annually for all board members and key employees. The review requires disclosure of any interest by anyone that may have a conflict of interest. As there are changes in board members or key employees the policy is disclosed and complied with.

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

The executive director's compensation is reviewed annually by the board of directors at a regular meeting. There is a performance review and a comparison of salary to market for determination of salary.

Form 990, Page 6, Part VI, Line 19

The documents are available upon request for inspection at the school and a copy may be obtained at a cost per copy for reproduction.

Filing and Contact Details

Filer

Filer Name
Community College Preparatory
EIN
46-0682130
Phone
2026105780
Address
2405 MARTIN L KING JR AVE SE, WASHINGTON, DC 20020

Signing Officer

Name
Cornelia V Spinner
Title
Executive Director
Phone
2026105780
Signed
2019-04-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cornelia V Spinner
Formed
2012
Legal Domicile
Dc
Voting Board Members
9
Independent Board Members
9
Employees
45
Volunteers
10

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 - ORGANIZATION'S MISSION

The mission of the community college preparatory academy public charter school is to provide the education and skills development to empower and prepare under-credited adults for postsecondary educational success, viable employment and lifelong learning.

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

1. The increasing number of adults in their prime wage-earning years, entering post- secondary education unprepared to successfully complete an associate degree or advanced vocational certifications; and 2. The overwhelming number of dc residents unable to be employed in the city due to the lack of core academic skills and the lack of certificated workforce skills required by the city's knowledge-based economy. Programs and services: the instructional model for cc prep responds to these challenges by providing a comprehensive, proven, blended learning approach. Programming includes: remediation in core academic skills; core skills in computer literacy; on-line learning that leads to a high school diploma via the new ged exam, college entry at freshman level via successful preparation for the acuplacer examination. The career pathways program includes preparation for a range of highly portable, national certifications to support entry to the city's knowledge-based economy and job market. Special focus prepares students for employment in the technology and tech-related fields. This focus was selected as it offers the broadest range of options for entry-level employment, including everything from a data entry clerk to certified help desk and cabling technician. The school's programming is based on the four outcomes for cc prep adult learners: 1. Successful high school completion via the new high school equivalency examination (ged); 2. Successful entry into community college at freshman level as a result of preparation for the accuplacer entry examination; 3. Successful completion of national entry-level employment certifications in the emerging fields for the district of columbia (i.e., technology, administrative support and health careers); and/or 4. Successful attainment of necessary skills in reasoning, mathematics, computers, and on- line research required for life-long learning in the twenty-first century. In our third year, we continued to expand our role as a microsoft office academy school. We are currently the most productive mos academy school in the city. This year we are beginning a pilot program in coding called launch code. Based upon review of our student data, we continued as a year-round school and operated from 9:00 am to 9:00 pm daily, providing instruction in three-hour sessions: 9:00am to 12:00 noon, 1:00pm to 4:00 pm and 5:00pm to 8:45 pm monday through thursday evenings. All adult learners are assessed initially and at regular intervals (every 6 to 8 weeks based on initial grade equivalent scores) using the etabe (test of adult basic education). The etabe was selected as it is aligned with my foundations lab, the core curriculum and the new ged. The new ged preparation program was developed to align with the common core standards and has remained the declared goal for 55% of all enrolled students. Based on the assessment analysis, students complete an individual learning plan (ilp) with their assigned student success specialist. They also sign off on a learning contract and agree to make every effort to comply with school requirements for attendance, individual bi-weekly academic reviews and semi-annual progress reviews. All students spend a minimum of fifteen hours a week in class. In addition to regularly scheduled etabe assessments, students are assessed for skill mastery as part of the curricular design. Once students reach the 7th grade 5th month level in reading, they are eligible to begin microsoft word training, which is now recommended for all students. When students reach the 9th grade level in reading and mathematics, students participate in either ged or accuplacer boot camps (weekly intensive workshops focusing specifically on test taking skills).

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 community college preparatory academy public charter school performed an evaluation of uncertain tax positions for the year ended june 30, 2018 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, 2018, the statute of limitations for tax years 2014 through 2016 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, 2018, the charter school had no accruals for interest and/or penalties.

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IRS990/Desc0THE CHARTER SCHOOL IS THE FIRST ADULT CHARTER SCHOOL EAST OF THE ANACOSTIA RIVER AND IS DESIGNED TO SUPPORT THE EDUCATION AND TRAINING NEEDS OF RESIDENTS OF THE DISTRICT OF COLUMBIA AS THEY SEEK TO TRANSITION TO COLLEGE OR CAREERS. SPECIAL FOCUS HAS BEEN GIVEN TO RESIDENTS OF WARDS 7 AND 8 WHERE THERE IS THE GREATEST CONCENTRATION OF ADULTS WITH CHALLENGES IN EDUCATION AND WORKFORCE PREPAREDNESS AND THE FEWEST PROGRAMS. THE CHARTER SCHOOL PROVIDES EDUCATION AND TRAINING SERVICES TO ADULTS (18 YEARS AND OLDER). THE DESIGN OF THE SCHOOL WAS IN RESPONSE TO TWO MAJOR CHALLENGES CONFRONTING THE DISTRICT OF COLUMBIA, NAMELY: 1. THE INCREASING NUMBER OF ADULTS IN THEIR PRIME WAGE-EARNING YEARS, ENTERING POST- SECONDARY EDUCATION UNPREPARED TO SUCCESSFULLY COMPLETE AN ASSOCIATE DEGREE OR ADVANCED VOCATIONAL CERTIFICATIONS; AND 2. THE OVERWHELMING NUMBER OF DC RESIDENTS UNABLE TO BE EMPLOYED IN THE CITY DUE TO THE LACK OF CORE ACADEMIC SKILLS AND THE LACK OF CERTIFICATED WORKFORCE SKILLS REQUIRED BY THE CITY'S KNOWLEDGE-BASED ECONOMY. PROGRAMS AND SERVICES: THE INSTRUCTIONAL MODEL FOR CC PREP RESPONDS TO THESE CHALLENGES BY PROVIDING A COMPREHENSIVE, PROVEN, BLENDED LEARNING APPROACH. PROGRAMMING INCLUDES: REMEDIATION IN CORE ACADEMIC SKILLS; CORE SKILLS IN COMPUTER LITERACY; ON-LINE LEARNING THAT LEADS TO A HIGH SCHOOL DIPLOMA VIA THE NEW GED EXAM, COLLEGE ENTRY AT FRESHMAN LEVEL VIA SUCCESSFUL PREPARATION FOR THE ACUPLACER EXAMINATION. THE CAREER PATHWAYS PROGRAM INCLUDES PREPARATION FOR A RANGE OF HIGHLY PORTABLE, NATIONAL CERTIFICATIONS TO SUPPORT ENTRY TO THE CITY'S KNOWLEDGE-BASED ECONOMY AND JOB MARKET. SPECIAL FOCUS PREPARES STUDENTS FOR EMPLOYMENT IN THE TECHNOLOGY AND TECH-RELATED FIELDS. THIS FOCUS WAS SELECTED AS IT OFFERS THE BROADEST RANGE OF OPTIONS FOR ENTRY-LEVEL EMPLOYMENT, INCLUDING EVERYTHING FROM A DATA ENTRY CLERK TO CERTIFIED HELP DESK AND CABLING TECHNICIAN. THE SCHOOL'S PROGRAMMING IS BASED ON THE FOUR OUTCOMES FOR CC PREP ADULT LEARNERS: 1. SUCCESSFUL HIGH SCHOOL COMPLETION VIA THE NEW HIGH SCHOOL EQUIVALENCY EXAMINATION (GED); 2. SUCCESSFUL ENTRY INTO COMMUNITY COLLEGE AT FRESHMAN LEVEL AS A RESULT OF PREPARATION FOR THE ACCUPLACER ENTRY EXAMINATION; 3. SUCCESSFUL COMPLETION OF NATIONAL ENTRY-LEVEL EMPLOYMENT CERTIFICATIONS IN THE EMERGING FIELDS FOR THE DISTRICT OF COLUMBIA (I.E., TECHNOLOGY, ADMINISTRATIVE SUPPORT AND HEALTH CAREERS); AND/OR 4. SUCCESSFUL ATTAINMENT OF NECESSARY SKILLS IN REASONING, MATHEMATICS, COMPUTERS, AND ON- LINE RESEARCH REQUIRED FOR LIFE-LONG LEARNING IN THE TWENTY-FIRST CENTURY. IN OUR THIRD YEAR, WE CONTINUED TO EXPAND OUR ROLE AS A MICROSOFT OFFICE ACADEMY SCHOOL. WE ARE CURRENTLY THE MOST PRODUCTIVE MOS ACADEMY SCHOOL IN THE CITY. THIS YEAR WE ARE BEGINNING A PILOT PROGRAM IN CODING CALLED LAUNCH CODE. BASED UPON REVIEW OF OUR STUDENT DATA, WE CONTINUED AS A YEAR-ROUND SCHOOL AND OPERATED FROM 9:00 AM TO 9:00 PM DAILY, PROVIDING INSTRUCTION IN THREE-HOUR SESSIONS: 9:00AM TO 12:00 NOON, 1:00PM TO 4:00 PM AND 5:00PM TO 8:45 PM MONDAY THROUGH THURSDAY EVENINGS. ALL ADULT LEARNERS ARE ASSESSED INITIALLY AND AT REGULAR INTERVALS (EVERY 6 TO 8 WEEKS BASED ON INITIAL GRADE EQUIVALENT SCORES) USING THE ETABE (TEST OF ADULT BASIC EDUCATION). THE ETABE WAS SELECTED AS IT IS ALIGNED WITH MY FOUNDATIONS LAB, THE CORE CURRICULUM AND THE NEW GED. THE NEW GED PREPARATION PROGRAM WAS DEVELOPED TO ALIGN WITH THE COMMON CORE STANDARDS AND HAS REMAINED THE DECLARED GOAL FOR 55% OF ALL ENROLLED STUDENTS. BASED ON THE ASSESSMENT ANALYSIS, STUDENTS COMPLETE AN INDIVIDUAL LEARNING PLAN (ILP) WITH THEIR ASSIGNED STUDENT SUCCESS SPECIALIST. THEY ALSO SIGN OFF ON A LEARNING CONTRACT AND AGREE TO MAKE EVERY EFFORT TO COMPLY WITH SCHOOL REQUIREMENTS FOR ATTENDANCE, INDIVIDUAL BI-WEEKLY ACADEMIC REVIEWS AND SEMI-ANNUAL PROGRESS REVIEWS. ALL STUDENTS SPEND A MINIMUM OF FIFTEEN HOURS A WEEK IN CLASS. IN ADDITION TO REGULARLY SCHEDULED ETABE ASSESSMENTS, STUDENTS ARE ASSESSED FOR SKILL MASTERY AS PART OF THE C
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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 COMMUNITY COLLEGE PREPARATORY ACADEMY PUBLIC CHARTER SCHOOL PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2018 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, 2018, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2014 THROUGH 2016 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, 2018, 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 DC GOVERNMENT. REVENUE PROCEDURE 75-50 DOES NOT APPLY TO CHARTER SCHOOLS.

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