Civic Intelligence

Philips Academy Charter School Inc.

990 • Fiscal year 2019 • EIN 46-1960549

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 05, 2020

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

73rd percentile

0.72x

Higher debt load relative to assets than 73% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

29th percentile

0.06x

Higher debt load relative to revenue than 29% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Net Margin

45th percentile

1.9%

Higher net margin than 45% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

54th percentile

$140,000

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Asset Growth

4th percentile

-27%

Faster asset growth than 4% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

72nd percentile

13%

Faster revenue growth than 72% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$694,910

Down $252,041 (-27%) from 2018

Net Assets

Up

$192,335

Up $148,068 (+334%) from 2018

Liabilities

Down

$502,575

Down $400,109 (-44%) from 2018

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin45th percentile

Revenue

Up

$7,912,478

Up $908,860 (+13%) from 2018

Expenses

Up

$7,764,410

Up $405,575 (+5.5%) from 2018

Net Income

Up

$148,068

Up $503,285 (+142%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2019

Assets$694,910
Liabilities$502,575
Net Assets$192,335
Open 2019 Filing

Operations Trend

Revenue Growth72nd 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

2019

Revenue$7,912,478
Expenses$7,764,410
Net Income$148,068
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 5, 2020
Return Version
2018v3.1
Gross Receipts
$7,912,478
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$892,680$561,776▼ $330,904
Cash and Non-Interest-Bearing Accounts$54,271$131,934▲ $77,663
Total Assets$946,951$694,910▼ $252,041
Other Assets Total-$1,200-
Liabilities
Accounts Payable and Accrued Expenses$902,512$469,397▼ $433,115
Deferred Revenue$172$33,178▲ $33,006
Total Liabilities$902,684$502,575▼ $400,109
Net Assets / Fund Balance
Unrestricted Net Assets$44,267$192,335▲ $148,068
Total Net Assets Fund Balance$44,267$192,335▲ $148,068
Total Liabilities and Net Assets / Fund Balance$946,951$694,910▼ $252,041
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Yasmeen SampsonPrincipalFT$140,000$140,000

Board Members and Trustees

NameTitle
Tammie a ReidPresident
Kevin CallaghanV President
Dale R AnglinTrustee
Elizabeth AbitantoTrustee
Homere BretonTrustee
Jennifer RobinsonTrustee
John HintzeTrustee
Joy LindsayTrustee
K Anthony ThomasTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$7,858,207
Program Service Revenue
$54,271
Investment Income
$0
Other Revenue
$0
All Other Contributions
$75,132
Change in Net Assets
$148,068

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,912,478
Total Revenue per Audited Statements
$7,912,478
Total Revenue per Form 990
$7,912,478
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,667,443
Other Expenses$2,096,967
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,559,627$647,970-$4,207,597
Other Employee Benefits$1,235,030$224,816-$1,459,846
Occupancy$528,750$96,250-$625,000
All Other Expenses$164,262--$164,262
Insurance$70,039$12,749-$82,788
Other Expenses$81,226$18,114-$81,226
Total Functional Expenses$6,666,183$1,098,227$0$7,764,410

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,764,410
Total Expenses per Audited Statements$7,764,410
Total Expenses per Form 990$7,764,410
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
Yes
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
2020-03-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tammie Reid
Formed
2012
Legal Domicile
Nj
Voting Board Members
9
Independent Board Members
9
Employees
166

Preparer

Firm
Scott J Loefflercpa
Address
12 MERRY LANE, EAST HANOVER, NJ 07936
Preparer
Scott J Loeffler CPA
Phone
9735854989
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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/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The school is a Public Charter School that receives ESEA 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/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0946951
IRS990/TotalAssetsEOYAmt0694910
IRS990/TotalAssetsGrp/BOYAmt0946951
IRS990/TotalAssetsGrp/EOYAmt0694910
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt07858207
IRS990/TotalEmployeeCnt0166
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01098227
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06666183
IRS990/TotalFunctionalExpensesGrp/TotalAmt07764410
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0902684
IRS990/TotalLiabilitiesEOYAmt0502575
IRS990/TotalLiabilitiesGrp/BOYAmt0902684
IRS990/TotalLiabilitiesGrp/EOYAmt0502575
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt044267
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0192335
IRS990/TotalProgramServiceExpensesAmt06666183
IRS990/TotalProgramServiceRevenueAmt054271
IRS990/TotalReportableCompFromOrgAmt0140000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07912478
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0946951
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0694910
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt044267
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0192335
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/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MIGDALIA DALE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD SECRETARY
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-05
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/AtSubmissionCreationDeviceId0C8D20F9CE8323D3D4710397085580305B5107F48
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00F992725588C623C3C861A89A203B37D1C94BB89
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.172.0.252
ReturnHeader/FilingSecurityInformation/IPDt02020-05-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm021:40:41
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCOTT J LOEFFLERCPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt012 MERRY LANE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EAST HANOVER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007936
ReturnHeader/PreparerPersonGrp/PhoneNum09735854989
ReturnHeader/PreparerPersonGrp/PreparationDt02020-03-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SCOTT J LOEFFLER CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-03-05T03:17:30-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$694,910
Liabilities
$502,575
Net assets
$192,335
Revenue
$7,912,478
Expenses
$7,764,410
Net income
$148,068
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
2019Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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