Civic Intelligence

Philips Academy Charter School Inc.

990 • Fiscal year 2017 • EIN 46-1960549

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

Organization ProfilePACSNEWARK.ORG

View Organization Page

342 Central AvenueNewark, NJ 07103

(973) 624-0644

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.63x

Higher debt load relative to assets than 72% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

39th percentile

0.11x

Higher debt load relative to revenue than 39% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Net Margin

24th percentile

-1.4%

Higher net margin than 24% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

51st percentile

$132,400

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Asset Growth

41st percentile

3.6%

Faster asset growth than 41% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

56th percentile

8.1%

Faster revenue growth than 56% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$1,067,240

Up $37,487 (+3.6%) from 2016

Net Assets

Down

$399,484

Down $86,125 (-18%) from 2016

Liabilities

Up

$667,756

Up $123,612 (+23%) from 2016

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin24th percentile

Revenue

Up

$5,945,640

Up $443,687 (+8.1%) from 2016

Expenses

Up

$6,031,765

Up $715,371 (+13%) from 2016

Net Income

Down

-$86,125

Down $271,684 (-146%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth41st percentile

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

$3.0M$2.0M$1.0M$0Assets 2014: $665,330Liabilities 2014: $590,219Net Assets 2014: $75,1112014Assets 2015: $884,484Liabilities 2015: $584,434Net Assets 2015: $300,0502015Assets 2016: $1,029,753Liabilities 2016: $544,144Net Assets 2016: $485,6092016Assets 2017: $1,067,240Liabilities 2017: $667,756Net Assets 2017: $399,4842017Assets 2018: $946,951Liabilities 2018: $902,684Net Assets 2018: $44,2672018Assets 2019: $694,910Liabilities 2019: $502,575Net Assets 2019: $192,3352019Assets 2020: $1,086,302Liabilities 2020: $880,998Net Assets 2020: $205,3042020Assets 2021: $1,599,762Liabilities 2021: $1,147,996Net Assets 2021: $451,7662021Assets 2022: $1,749,669Liabilities 2022: $1,490,969Net Assets 2022: $258,7002022Assets 2023: $1,988,278Liabilities 2023: $1,690,694Net Assets 2023: $297,5842023Assets 2024: $2,046,603Liabilities 2024: $1,378,565Net Assets 2024: $668,0382024

Highlighted filing

2017

Assets$1,067,240
Liabilities$667,756
Net Assets$399,484
Open 2017 Filing

Operations Trend

Revenue Growth56th percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2014: $4,518,701Expenses 2014: $4,443,590Net Income 2014: $75,1112014Revenue 2015: $4,726,695Expenses 2015: $4,501,756Net Income 2015: $224,9392015Revenue 2016: $5,501,953Expenses 2016: $5,316,394Net Income 2016: $185,5592016Revenue 2017: $5,945,640Expenses 2017: $6,031,765Net Income 2017: -$86,1252017Revenue 2018: $7,003,618Expenses 2018: $7,358,835Net Income 2018: -$355,2172018Revenue 2019: $7,912,478Expenses 2019: $7,764,410Net Income 2019: $148,0682019Revenue 2020: $8,611,066Expenses 2020: $8,598,097Net Income 2020: $12,9692020Revenue 2021: $9,182,074Expenses 2021: $8,948,653Net Income 2021: $233,4212021Revenue 2022: $13,081,311Expenses 2022: $13,274,377Net Income 2022: -$193,0662022Revenue 2023: $14,067,353Expenses 2023: $14,028,469Net Income 2023: $38,8842023Revenue 2024: $15,034,340Expenses 2024: $14,663,886Net Income 2024: $370,4542024

Highlighted filing

2017

Revenue$5,945,640
Expenses$6,031,765
Net Income-$86,125
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.0
Gross Receipts
$5,945,640
Mission and Program Overview

Mission

We will provide a moral and rigorous education, accomplished in a hands-on, technology infused educational environment that will allow our students to attend college, while developing a commitment to global citizenship, environmental sustainability, and personal virtue.

We will provide a moral and rigorous education, accomplished in a hands-on, technology infused educational environment that will allow our students to attend college, while developing a commitment to global citizenship

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$478,426$587,545▲ $109,119
Cash and Non-Interest-Bearing Accounts$551,327$479,695▼ $71,632
Total Assets$1,029,753$1,067,240▲ $37,487
Liabilities
Accounts Payable and Accrued Expenses$515,466$661,627▲ $146,161
Deferred Revenue$28,678$6,129▼ $22,549
Total Liabilities$544,144$667,756▲ $123,612
Net Assets / Fund Balance
Unrestricted Net Assets$485,609$399,484▼ $86,125
Total Net Assets Fund Balance$485,609$399,484▼ $86,125
Total Liabilities and Net Assets / Fund Balance$1,029,753$1,067,240▲ $37,487
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mark SchultzPrincipalFT$132,400$132,400

Board Members and Trustees

NameTitle
Dale R AnglinPresident
K Anthony ThomasVice President
Elizabeth AbitantoTrustee
Homere BretonTrustee
Jennifer RobinsonTrustee
John HintzeTrustee
Joy LindsayTrustee
Kevin CallaghanTrustee
Tammie a ReidTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$5,832,929
Program Service Revenue
$112,711
Investment Income
$0
Other Revenue
$0
All Other Contributions
$292,342
Change in Net Assets
$-86,125

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,945,640
Total Revenue per Audited Statements
$5,945,640
Total Revenue per Form 990
$5,945,640
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,811,279
Other Expenses$2,220,486
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,360,511$429,691-$2,790,202
Other Employee Benefits$863,831$157,246-$1,021,077
Occupancy$527,904$96,096-$624,000
All Other Expenses$190,735--$190,735
Other Expenses$38,069$57,545-$38,069
Insurance$26,237$4,776-$31,013
Total Functional Expenses$5,190,589$841,176$0$6,031,765

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,031,765
Total Expenses per Audited Statements$6,031,765
Total Expenses per Form 990$6,031,765
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
Federal income taxes-
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

Governance Explanations

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

“The Board follows the conflict of interest prescribed by the NJ Department of Education.”

Form 990, Part VI, Section B, Line 15B

“The Board reviews and approves all salaries.”

Form 990, Part VI, Section B, Line 11A

“Board reviews the Form 990 with the outside auditor before submittal.”

Form 990, Part VI, Section C, Line 19

“All governing documents, conflict of interest policies and financial statements are available to the public by contacting the administration at the school.”

Filing and Contact Details

Filer

Filer Name
Philips Academy Charter School Inc
EIN
46-1960549
Phone
9736240644
Address
342 CENTRAL AVENUE, NEWARK, NJ 07103

Signing Officer

Name
Migdalia Dale
Title
Board Secretary
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dale Anglin
Formed
2012
Legal Domicile
Nj
Voting Board Members
9
Independent Board Members
9
Employees
115

Preparer

Firm
Scott J Loeffler CPA
Address
12 MERRY LANE, EAST HANOVER, NJ 07936
Preparer
Scott J Loeffler
Phone
9735854989
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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05945640
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06031765
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The school is a Public Charter School that receives NCLB and IDEA Grants for education of students within the school.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board follows the conflict of interest prescribed by the NJ Department of Education.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board reviews and approves all salaries.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board reviews the Form 990 with the outside auditor before submittal.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All governing documents, conflict of interest policies and financial statements are available to the public by contacting the administration at the school.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01029753
IRS990/TotalAssetsEOYAmt01067240
IRS990/TotalAssetsGrp/BOYAmt01029753
IRS990/TotalAssetsGrp/EOYAmt01067240
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05832929
IRS990/TotalEmployeeCnt0115
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0841176
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05190589
IRS990/TotalFunctionalExpensesGrp/TotalAmt06031765
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0544144
IRS990/TotalLiabilitiesEOYAmt0667756
IRS990/TotalLiabilitiesGrp/BOYAmt0544144
IRS990/TotalLiabilitiesGrp/EOYAmt0667756
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0485609
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0399484
IRS990/TotalProgramServiceExpensesAmt05190589
IRS990/TotalProgramServiceRevenueAmt0112711
IRS990/TotalReportableCompFromOrgAmt0132400
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0112711
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05945640
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01029753
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01067240
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0485609
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0399484
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0342 CENTRAL AVE
IRS990/USAddress/CityNm0NEWARK
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007103
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0PACSNEWARK.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MIGDALIA DALE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD SECRETARY
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PHILIPS ACADEMY CHARTER SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0PHIL
ReturnHeader/Filer/EIN0461960549
ReturnHeader/Filer/PhoneNum09736240644
ReturnHeader/Filer/USAddress/AddressLine1Txt0342 CENTRAL AVENUE
ReturnHeader/Filer/USAddress/CityNm0NEWARK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007103
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId08DFA8D9674DF7E0991FEAA96041CF80F3DE8F81B
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08F692131FB596B96CAF530EF8F84769EC4874A1F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.184.55.90
ReturnHeader/FilingSecurityInformation/IPDt02018-05-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm022:12:54
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCOTT J LOEFFLER CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt012 MERRY LANE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EAST HANOVER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007936
ReturnHeader/PreparerPersonGrp/PhoneNum09735854989
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SCOTT J LOEFFLER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-05-15T02:24:24-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,067,240
Liabilities
$667,756
Net assets
$399,484
Revenue
$5,945,640
Expenses
$6,031,765
Net income
-$86,125
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$1.38$0.67$15.0$14.7$0.37
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.99$1.69$0.30$14.1$14.0$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.75$1.49$0.26$13.1$13.3$0.19
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.60$1.15$0.45$9.18$8.95$0.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.09$0.88$0.21$8.61$8.60$0.01
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.69$0.50$0.19$7.91$7.76$0.15
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.90$0.04$7.00$7.36$0.36
2017Detailed filing. Detailed filing data is available for this year.$1.07$0.67$0.40$5.95$6.03$0.09
2016Detailed filing. Detailed filing data is available for this year.$1.03$0.54$0.49$5.50$5.32$0.19
2015Detailed filing. Detailed filing data is available for this year.$0.88$0.58$0.30$4.73$4.50$0.22
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.67$0.59$0.08$4.52$4.44$0.08