Civic Intelligence

Bridges Preparatory School

990 • Fiscal year 2015 • EIN 46-0847332

Jul 01, 2014 to Jun 30, 2015 • Filed on Jan 14, 2016

PO Box 120Beaufort, SC 29901

(843) 982-7737

Siviq Scores

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

Liabilities / Assets

79th percentile

0.52x

Higher debt load relative to assets than 79% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

70th percentile

0.32x

Higher debt load relative to revenue than 70% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

74th percentile

15%

Higher net margin than 74% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

59th percentile

$79,456

Higher top officer pay than 59% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

98th percentile

267%

Faster asset growth than 98% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

83rd percentile

31%

Faster revenue growth than 83% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$2,368,490

Up $1,723,586 (+267%) from 2014

Net Assets

Up

$1,128,296

Up $574,456 (+104%) from 2014

Liabilities

Up

$1,240,194

Up $1,149,130 (+1262%) from 2014

Revenue

Up

$3,899,388

Up $922,172 (+31%) from 2014

Expenses

Up

$3,324,932

Up $927,852 (+39%) from 2014

Net Income

Down

$574,456

Down $5,680 (-1.0%) from 2014

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2014: $644,904Liabilities 2014: $91,064Net Assets 2014: $553,8402014Assets 2015: $2,368,490Liabilities 2015: $1,240,194Net Assets 2015: $1,128,2962015Assets 2016: $2,728,488Liabilities 2016: $1,102,273Net Assets 2016: $1,626,2152016Assets 2017: $3,796,749Liabilities 2017: $1,095,600Net Assets 2017: $2,701,1492017Assets 2018: $5,778,063Liabilities 2018: $2,231,304Net Assets 2018: $3,546,7592018Assets 2020: $26,812,333Liabilities 2020: $22,831,858Net Assets 2020: $3,980,4752020Assets 2021: $36,060,000Liabilities 2021: $30,336,932Net Assets 2021: $5,723,0682021Assets 2022: $41,804,496Liabilities 2022: $34,325,219Net Assets 2022: $7,479,2772022Assets 2024: $50,920,458Liabilities 2024: $43,250,134Net Assets 2024: $7,670,3242024Assets 2025: $52,617,783Liabilities 2025: $45,164,781Net Assets 2025: $7,453,0022025

Highlighted filing

2015

Assets$2,368,490
Liabilities$1,240,194
Net Assets$1,128,296

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2014: $2,977,216Expenses 2014: $2,397,080Net Income 2014: $580,1362014Revenue 2015: $3,899,388Expenses 2015: $3,324,932Net Income 2015: $574,4562015Revenue 2016: $4,268,691Expenses 2016: $3,770,772Net Income 2016: $497,9192016Revenue 2017: $5,219,268Expenses 2017: $4,144,334Net Income 2017: $1,074,9342017Revenue 2018: $5,983,141Expenses 2018: $5,137,531Net Income 2018: $845,6102018Revenue 2020: $7,604,110Expenses 2020: $7,697,349Net Income 2020: -$93,2392020Revenue 2021: $11,675,095Expenses 2021: $9,932,502Net Income 2021: $1,742,5932021Revenue 2022: $13,934,070Expenses 2022: $12,177,860Net Income 2022: $1,756,2102022Revenue 2024: $16,857,073Expenses 2024: $16,669,840Net Income 2024: $187,2332024Revenue 2025: $18,566,412Expenses 2025: $18,783,734Net Income 2025: -$217,3222025

Highlighted filing

2015

Revenue$3,899,388
Expenses$3,324,932
Net Income$574,456
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jan 14, 2016
Return Version
2014v6.0
Gross Receipts
$3,899,388
Mission and Program Overview

Mission

The bridges preparatory school mission is to provide students equal access to a high quality k-12 whole child education that maximizes academic excellence and strength of character in a student-centered learning environment created by a faculty of lifelong learners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$184,270$1,461,288▲ $1,277,018
Cash and Non-Interest-Bearing Accounts$428,157$817,011▲ $388,854
Rtn Earn Endowment Incm Other Fnds$-26,296$626,420▲ $652,716
Pd in Cap Srpls Land Bldg Eqp Fund$580,136$501,876▼ $78,260
Pledges and Grants Receivable$32,477$60,233▲ $27,756
Accounts Receivable-$8,000-
Prepaid Expenses and Deferred Charges-$6,958-
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$644,904$2,368,490▲ $1,723,586
Other Assets Total-$15,000-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$959,412-
Accounts Payable and Accrued Expenses$44,452$272,529▲ $228,077
Other Liabilities$46,612$0▼ $46,612
Deferred Revenue-$8,253-
Total Liabilities$91,064$1,240,194▲ $1,149,130
Net Assets / Fund Balance
Total Net Assets Fund Balance$553,840$1,128,296▲ $574,456
Total Liabilities and Net Assets / Fund Balance$644,904$2,368,490▲ $1,723,586

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$654,769$17,231$672,000
Land$528,000-$528,000
Leasehold Improvements$249,909$16,970$266,879
Equipment$28,610$4,060$32,670
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bob CookHead of School (thru December 2014)FT$76,072$3,384$79,456

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,716,642
Program Service Revenue
$182,257
Investment Income
$489
Other Revenue
$0
All Other Contributions
$37,660
Change in Net Assets
$574,456
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,269,740
Other Expenses$1,055,192
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,394,548$476,072-$1,870,620
Occupancy$125,290$143,188-$268,478
Other Employee Benefits$183,769$28,893-$212,662
Payroll Taxes$122,400$38,558-$160,958
Travel-$64,700-$64,700
Fees for Services Accounting-$51,050-$51,050
Interest-$47,769-$47,769
Insurance-$31,898-$31,898
Depreciation Depletion$14,555$16,633-$31,188
Fees for Services Legal-$29,668-$29,668
Pension Plan Contributions$18,753$6,747-$25,500
Information Technology-$19,959-$19,959
Other Expenses$50,012$13,688-$13,688
Conferences and Meetings-$6,500-$6,500
Office Expenses-$6,481-$6,481
Advertising-$5,846-$5,846
Fees for Services Management-$4,863-$4,863
All Other Expenses$155$2,022-$2,177
Total Functional Expenses$2,069,744$1,255,188$0$3,324,932
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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

Governance Explanations

Form 990, Part VI, Section B, Line 11

Form 990 will be distributed to the board of directors at scheduled board of directors meetings.

Form 990, Part VI, Section B, Line 12C

Each year, bridges preparatory school distributes a certification and conflict of interest disclosure form to the board of directors and board officers. Each respondent must certify that he or she has received a copy of the conflict of-interest policy; has read and understands the policy; has agreed to comply with the policy; and understands that the organization is charitable and that in order to maintain its federal tax exemption it must engage primarily in activities that accomplish one or more of its exempt purposes and not engage in activities and transactions that provide impermissible benefits to individuals or entities. In addition, the certification and conflict of interest disclosure documents require each individual to either certify that he or she has no actual or possible conflict of interest to report, or to describe any relationships, transactions, or other circumstances, including those of an immediate family member, that could result in a conflict between the organization's interests and his or her personal, financial or other interests. All individuals are provided a copy of the conflict-of-interest and are provided the opportunity to ask questions about the policy. For new board members elected each year, this is covered as part of the new board members orientation session held prior to the first board meeting in which they participate. All board members and officers are required to complete and sign the certification and disclosure form, which is retained in the bridges preparatory schools files. Disclosure documents are reviewed to identify individuals that represent a potential conflict of interest. As business matters, transactions or contracts arise, potential conflicts are reviewed and when a conflict is identified with respect to a proposed transaction, bridges preparatory school follows the procedures set out in its conflict-of-interest policy which typically results in prohibiting them from participating in the board's deliberations and decisions surrounding the transaction.

Form 990, Part VI, Section B, Line 15

The process for determining compensation for the head of school, assistant head of school, directors and all teaching staff includes a review by the bridges internal operations/human resources staff and the entire board of directors. Comparability data used in the review process is obtained from a variety of sources including similar schools, similar positions, similar years of experience and similar education levels within the same county and within similar districts outside the county. A salary schedule has been created and salary decisions are determined based on their alignment with the salary schedule and the aforementioned factors. Compensation deliberations and decisions are discussed within the executive session of the respective board meetings where contracts are reviewed for approval by the board of directors.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy and financial statements are available to the public on the school's website and upon request.

Filing and Contact Details

Filer

Filer Name
Bridges Preparatory School
EIN
46-0847332
Phone
8439827737
Address
PO BOX 120, BEAUFORT, SC 29901

Signing Officer

Name
Delores Matthews
Title
Board Chair
Phone
8439827737
Signed
2016-01-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Delores Matthews
Formed
2012
Legal Domicile
Sc
Voting Board Members
7
Independent Board Members
7
Employees
87
Volunteers
209

Preparer

Firm
Mccay Kiddy & Associates LLC
Address
1156 BOWMAN ROAD SUITE 100-A, MOUNT PLEASANT, SC 29464
Preparer
Melissa a Kiddy CPA Cfe
Phone
8438814477
Raw XML AppendixShowing 400 of 433 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt017231
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0672000
IRS990ScheduleD/EquipmentGrp/BookValueAmt028610
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04060
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt032670
IRS990ScheduleD/LandGrp/BookValueAmt0528000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0528000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0249909
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt016970
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0266879
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01461288
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE RACIALLY NONDISCRIMINATORY POLICY IS LISTED ON THE SCHOOL'S WEBSITE WHICH IS ACCESSIBLE TO ALL.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES A SUBSTANTIAL PART OF ITS SUPPORT FROM A GOVERNMENTAL UNIT INCLUDING $3,493,482 FROM THE SOUTH CAROLINA PUBLIC CHARTER SCHOOL DISTRICT IN FISCAL YEAR 2014.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 WILL BE DISTRIBUTED TO THE BOARD OF DIRECTORS AT SCHEDULED BOARD OF DIRECTORS MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH YEAR, BRIDGES PREPARATORY SCHOOL DISTRIBUTES A CERTIFICATION AND CONFLICT OF INTEREST DISCLOSURE FORM TO THE BOARD OF DIRECTORS AND BOARD OFFICERS. EACH RESPONDENT MUST CERTIFY THAT HE OR SHE HAS RECEIVED A COPY OF THE CONFLICT OF-INTEREST POLICY; HAS READ AND UNDERSTANDS THE POLICY; HAS AGREED TO COMPLY WITH THE POLICY; AND UNDERSTANDS THAT THE ORGANIZATION IS CHARITABLE AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS EXEMPT PURPOSES AND NOT ENGAGE IN ACTIVITIES AND TRANSACTIONS THAT PROVIDE IMPERMISSIBLE BENEFITS TO INDIVIDUALS OR ENTITIES. IN ADDITION, THE CERTIFICATION AND CONFLICT OF INTEREST DISCLOSURE DOCUMENTS REQUIRE EACH INDIVIDUAL TO EITHER CERTIFY THAT HE OR SHE HAS NO ACTUAL OR POSSIBLE CONFLICT OF INTEREST TO REPORT, OR TO DESCRIBE ANY RELATIONSHIPS, TRANSACTIONS, OR OTHER CIRCUMSTANCES, INCLUDING THOSE OF AN IMMEDIATE FAMILY MEMBER, THAT COULD RESULT IN A CONFLICT BETWEEN THE ORGANIZATION'S INTERESTS AND HIS OR HER PERSONAL, FINANCIAL OR OTHER INTERESTS. ALL INDIVIDUALS ARE PROVIDED A COPY OF THE CONFLICT-OF-INTEREST AND ARE PROVIDED THE OPPORTUNITY TO ASK QUESTIONS ABOUT THE POLICY. FOR NEW BOARD MEMBERS ELECTED EACH YEAR, THIS IS COVERED AS PART OF THE NEW BOARD MEMBERS ORIENTATION SESSION HELD PRIOR TO THE FIRST BOARD MEETING IN WHICH THEY PARTICIPATE. ALL BOARD MEMBERS AND OFFICERS ARE REQUIRED TO COMPLETE AND SIGN THE CERTIFICATION AND DISCLOSURE FORM, WHICH IS RETAINED IN THE BRIDGES PREPARATORY SCHOOLS FILES. DISCLOSURE DOCUMENTS ARE REVIEWED TO IDENTIFY INDIVIDUALS THAT REPRESENT A POTENTIAL CONFLICT OF INTEREST. AS BUSINESS MATTERS, TRANSACTIONS OR CONTRACTS ARISE, POTENTIAL CONFLICTS ARE REVIEWED AND WHEN A CONFLICT IS IDENTIFIED WITH RESPECT TO A PROPOSED TRANSACTION, BRIDGES PREPARATORY SCHOOL FOLLOWS THE PROCEDURES SET OUT IN ITS CONFLICT-OF-INTEREST POLICY WHICH TYPICALLY RESULTS IN PROHIBITING THEM FROM PARTICIPATING IN THE BOARD'S DELIBERATIONS AND DECISIONS SURROUNDING THE TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PROCESS FOR DETERMINING COMPENSATION FOR THE HEAD OF SCHOOL, ASSISTANT HEAD OF SCHOOL, DIRECTORS AND ALL TEACHING STAFF INCLUDES A REVIEW BY THE BRIDGES INTERNAL OPERATIONS/HUMAN RESOURCES STAFF AND THE ENTIRE BOARD OF DIRECTORS. COMPARABILITY DATA USED IN THE REVIEW PROCESS IS OBTAINED FROM A VARIETY OF SOURCES INCLUDING SIMILAR SCHOOLS, SIMILAR POSITIONS, SIMILAR YEARS OF EXPERIENCE AND SIMILAR EDUCATION LEVELS WITHIN THE SAME COUNTY AND WITHIN SIMILAR DISTRICTS OUTSIDE THE COUNTY. A SALARY SCHEDULE HAS BEEN CREATED AND SALARY DECISIONS ARE DETERMINED BASED ON THEIR ALIGNMENT WITH THE SALARY SCHEDULE AND THE AFOREMENTIONED FACTORS. COMPENSATION DELIBERATIONS AND DECISIONS ARE DISCUSSED WITHIN THE EXECUTIVE SESSION OF THE RESPECTIVE BOARD MEETINGS WHERE CONTRACTS ARE REVIEWED FOR APPROVAL BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE SCHOOL'S WEBSITE AND UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1ACTUAL CASH RECEIPTS
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IRS990/USAddress/CityNm0BEAUFORT
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