Civic Intelligence

Success Foundation Inc

990 • Fiscal year 2022 • EIN 46-1501902

Jul 01, 2021 to Jun 30, 2022 • Filed on May 12, 2023

95 Pine Street 6th FloorNew York, NY 10005

(646) 277-7170

Siviq Scores

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

Liabilities / Assets

99th percentile

5.85x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

95th percentile

0.95x

Higher debt load relative to revenue than 95% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

6th percentile

-106%

Higher net margin than 6% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

100th percentile

$985,730

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 246.3% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

4th percentile

-87%

Faster asset growth than 4% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

17th percentile

-33%

Faster revenue growth than 17% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$65,169

Down $430,919 (-87%) from 2021

Net Assets

Down

-$315,947

Down $425,844 (-387%) from 2021

Liabilities

Down

$381,116

Down $5,075 (-1.3%) from 2021

Revenue

Down

$400,151

Down $200,000 (-33%) from 2021

Expenses

Up

$825,995

Up $24,518 (+3.1%) from 2021

Net Income

Down

-$425,844

Down $224,518 (-112%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2013: $25,645Liabilities 2013: $02013Assets 2014: $57,191Liabilities 2014: $5,015Net Assets 2014: $52,1762014Assets 2015: $501,823Liabilities 2015: $363,896Net Assets 2015: $137,9272015Assets 2016: $479,937Liabilities 2016: $330,075Net Assets 2016: $149,8622016Assets 2017: $364,751Liabilities 2017: $507,125Net Assets 2017: -$142,3742017Assets 2018: $471,178Liabilities 2018: $456,243Net Assets 2018: $14,9352018Assets 2019: $916,776Liabilities 2019: $799,226Net Assets 2019: $117,5502019Assets 2020: $811,295Liabilities 2020: $500,072Net Assets 2020: $311,2232020Assets 2021: $496,088Liabilities 2021: $386,191Net Assets 2021: $109,8972021Assets 2022: $65,169Liabilities 2022: $381,116Net Assets 2022: -$315,9472022Assets 2023: $409,224Liabilities 2023: $380,438Net Assets 2023: $28,7862023Assets 2024: $537,552Liabilities 2024: $503,880Net Assets 2024: $33,6722024Assets 2025: $0Liabilities 2025: $0Net Assets 2025: $02025

Highlighted filing

2022

Assets$65,169
Liabilities$381,116
Net Assets-$315,947

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2013: $50,000Expenses 2013: $24,355Net Income 2013: $25,6452013Revenue 2014: $527,167Expenses 2014: $500,636Net Income 2014: $26,5312014Revenue 2015: $727,508Expenses 2015: $641,757Net Income 2015: $85,7512015Revenue 2016: $703,284Expenses 2016: $691,349Net Income 2016: $11,9352016Revenue 2017: $350,000Expenses 2017: $642,236Net Income 2017: -$292,2362017Revenue 2018: $975,000Expenses 2018: $817,691Net Income 2018: $157,3092018Revenue 2019: $900,140Expenses 2019: $797,525Net Income 2019: $102,6152019Revenue 2020: $800,151Expenses 2020: $606,478Net Income 2020: $193,6732020Revenue 2021: $600,151Expenses 2021: $801,477Net Income 2021: -$201,3262021Revenue 2022: $400,151Expenses 2022: $825,995Net Income 2022: -$425,8442022Revenue 2023: $1,220,151Expenses 2023: $875,418Net Income 2023: $344,7332023Revenue 2024: $380,000Expenses 2024: $375,114Net Income 2024: $4,8862024Revenue 2025: $0Expenses 2025: $0Net Income 2025: $02025

Highlighted filing

2022

Revenue$400,151
Expenses$825,995
Net Income-$425,844
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 12, 2023
Return Version
2021v4.2
Gross Receipts
$400,151
Mission and Program Overview

Mission

To be operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of success academy charter schools, inc., a related 501(c)(3) organization.

To be operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of success academy charter schools, inc., a related 501(c)(3) org.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$485,268$60,110▼ $425,158
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$496,088$65,169▼ $430,919
Other Assets Total$10,820$5,059▼ $5,761
Liabilities
Accounts Payable and Accrued Expenses$386,191$381,116▼ $5,075
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$386,191$381,116▼ $5,075
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$109,897$-315,947▼ $425,844
Total Net Assets Fund Balance$109,897$-315,947▼ $425,844
Total Liabilities and Net Assets / Fund Balance$496,088$65,169▼ $430,919

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$5,059--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Eva MoskowitzChief Executive OfficerPT$392,500$375,000$767,500

Board Members and Trustees

NameTitle
Joel GreenblattChairman
Shabbir AhmedChief Financial Officer
Kent a YalowitzSecretary
Rich Barrera From 721Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$400,000
Program Service Revenue
$0
Investment Income
$151
Other Revenue
$0
All Other Contributions
$400,000
Change in Net Assets
$-425,844

Audited Revenue Reconciliation

Revenue per Audited Statements
$400,151
Total Revenue per Audited Statements
$400,151
Total Revenue per Form 990
$400,151
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$801,581
Other Expenses$24,414
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$780,000--$780,000
Payroll Taxes$21,581--$21,581
Fees for Services Accounting-$7,152-$7,152
Fees for Services Legal-$1,112-$1,112
Office Expenses-$8-$8
Other Expenses$0$6$0$6
Total Functional Expenses$801,581$24,414$0$825,995

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$825,995
Total Expenses per Audited Statements$825,995
Total Expenses per Form 990$825,995
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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, PART VI, SECTION A, LINES 7A AND 7B:

Success academy charter schools, inc., a related 501(c)(3) organization, shall appoint at least two-thirds of the board directors.

FORM 990, PART VI, SECTION B, LINE 11B:

Form 990 is reviewed by management for approval and is provided to the finance committee of the board of trustees. If changes are required, the organization will then forward to the auditing firm and the final version will be provided to the finance committee of the board of trustees prior to the irs submission.

FORM 990, PART VI, SECTION B, LINE 12C:

The organization shares its conflict of interest policy with board members and officers on an annual basis. Officers, directors, and key employees are expected to declare if at any point a conflict of interest arises.

FORM 990, PART VI, SECTION B, LINE 15A:

Comparable data is used by the board when determining the compensation the chief executive officer and contemporaneous documentation is maintained by the organization.

FORM 990, PART VI, SECTION C, LINE 19:

The organization makes all governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Success Foundation Inc
EIN
46-1501902
In Care Of
% SHABBIR AHMED
Phone
6462777170
Address
95 PINE STREET 6TH FLOOR, NEW YORK, NY 10005

Signing Officer

Name
Shabbir Ahmed
Title
CFO
Phone
6462777170
Signed
2023-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eva Moskowitz
Formed
2012
Legal Domicile
De
Voting Board Members
3
Independent Board Members
3
Employees
1
Volunteers
3

Preparer

Firm
Bdo USA Llp
Address
100 PARK AVENUE, NEW YORK, NY 10017-5001
Preparer
Paul Hammerschmidt
Phone
2128858000
Supplemental Narrative

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

Under u.s. Gaap, an organization must recognize the tax benefit associated with tax positions taken for tax return purposes when it is more likely than not that the position will not be sustained upon examination by a taxing authority. Success foundation, inc. Does not believe it has taken any material uncertain tax positions and, accordingly, it has not recorded any liability for unrecognized tax benefits. The organization is subject to routine audits by a taxing authority. As of june 30, 2022, the organization was not subject to any examination by a taxing authority.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0SUCCESS ACADEMY CHARTER SCHOOLS INC
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05059
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM AFFILIATE
IRS990ScheduleD/RevenueSubtotalAmt0400151
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNDER U.S. GAAP, AN ORGANIZATION MUST RECOGNIZE THE TAX BENEFIT ASSOCIATED WITH TAX POSITIONS TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY. SUCCESS FOUNDATION, INC. DOES NOT BELIEVE IT HAS TAKEN ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT HAS NOT RECORDED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY A TAXING AUTHORITY. AS OF JUNE 30, 2022, THE ORGANIZATION WAS NOT SUBJECT TO ANY EXAMINATION BY A TAXING AUTHORITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt0825995
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IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0392500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount0375000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0EVA MOSKOWITZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1SHABBIR AHMED
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Chief Executive Officer
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CHIEF FINANCIAL OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0767500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
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IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Schedule J, Part II, column (B)(II) reports discretionary incentive amounts that were approved by the board based upon performance.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PART I, LINE 7:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SUCCESS ACADEMY CHARTER SCHOOLS, INC., A RELATED 501(C)(3) ORGANIZATION, SHALL APPOINT AT LEAST TWO-THIRDS OF THE BOARD DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY MANAGEMENT FOR APPROVAL AND IS PROVIDED TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. IF CHANGES ARE REQUIRED, THE ORGANIZATION WILL THEN FORWARD TO THE AUDITING FIRM AND THE FINAL VERSION WILL BE PROVIDED TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO THE IRS SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION SHARES ITS CONFLICT OF INTEREST POLICY WITH BOARD MEMBERS AND OFFICERS ON AN ANNUAL BASIS. OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE EXPECTED TO DECLARE IF AT ANY POINT A CONFLICT OF INTEREST ARISES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPARABLE DATA IS USED BY THE BOARD WHEN DETERMINING THE COMPENSATION THE CHIEF EXECUTIVE OFFICER AND CONTEMPORANEOUS DOCUMENTATION IS MAINTAINED BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINES 7A AND 7B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19:
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
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