Civic Intelligence

Philips Academy Charter School Inc.

990 • Fiscal year 2021 • EIN 46-1960549

Jul 01, 2020 to Jun 30, 2021 • Filed on May 11, 2022

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

64th percentile

0.72x

Higher debt load relative to assets than 64% of similar nonprofits.

2021 filings • NTEE B29 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

40th percentile

0.13x

Higher debt load relative to revenue than 40% of similar nonprofits.

2021 filings • NTEE B29 • $5M-$10M nonprofits • Source year 2021

Net Margin

36th percentile

2.5%

Higher net margin than 36% of similar nonprofits.

2021 filings • NTEE B29 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • NTEE B29 • $5M-$10M nonprofits • Source year 2021

Asset Growth

83rd percentile

47%

Faster asset growth than 83% of similar nonprofits.

2021 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

44th percentile

6.6%

Faster revenue growth than 44% of similar nonprofits.

2021 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$1,599,762

Up $513,460 (+47%) from 2020

Net Assets

Up

$451,766

Up $246,462 (+120%) from 2020

Liabilities

Up

$1,147,996

Up $266,998 (+30%) from 2020

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin36th percentile

Revenue

Up

$9,182,074

Up $571,008 (+6.6%) from 2020

Expenses

Up

$8,948,653

Up $350,556 (+4.1%) from 2020

Net Income

Up

$233,421

Up $220,452 (+1700%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth83rd 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

2021

Assets$1,599,762
Liabilities$1,147,996
Net Assets$451,766
Open 2021 Filing

Operations Trend

Revenue Growth44th 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

2021

Revenue$9,182,074
Expenses$8,948,653
Net Income$233,421
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 11, 2022
Return Version
2020v4.2
Gross Receipts
$9,182,074
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
Cash and Non-Interest-Bearing Accounts$571,962$762,838▲ $190,876
Accounts Receivable$514,340$689,474▲ $175,134
Prepaid Expenses and Deferred Charges-$12,450-
Total Assets$1,086,302$1,599,762▲ $513,460
Other Assets Total-$135,000-
Liabilities
Accounts Payable and Accrued Expenses$743,173$806,069▲ $62,896
Deferred Revenue$137,825$341,927▲ $204,102
Total Liabilities$880,998$1,147,996▲ $266,998
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$205,304$445,133▲ $239,829
Net Assets With Donor Restrictions-$6,633-
Total Net Assets Fund Balance$205,304$451,766▲ $246,462
Total Liabilities and Net Assets / Fund Balance$1,086,302$1,599,762▲ $513,460

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$135,000--
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Tammie a ReidPresident
Kevin CallaghanVice President
Elizabeth AbitantoTrustee
Homere BretonTrustee
Joy LindsayTrustee
K Anthony ThomasTrustee
Martin McdougallTrustee
Yasmeen SampsonPrincipal
Revenue and Support

Revenue Composition

Contributions and Grants
$9,180,282
Program Service Revenue
$1,792
Investment Income
$0
Other Revenue
$0
All Other Contributions
$65,432
Change in Net Assets
$233,421

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,182,074
Total Revenue per Audited Statements
$9,182,074
Total Revenue per Form 990
$9,182,074
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,261,726
Other Expenses$1,686,927
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,300,140$758,848-$5,058,988
Other Employee Benefits$1,872,327$330,411-$2,202,738
Occupancy$382,500$67,500-$450,000
All Other Expenses$101,373$17,889-$119,262
Insurance$79,259$13,987-$93,246
Other Expenses$43,213$45,326-$43,213
Total Functional Expenses$7,694,137$1,254,516$0$8,948,653

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,948,653
Total Expenses per Audited Statements$8,948,653
Total Expenses per Form 990$8,948,653
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 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
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 independent outside accountant 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
2022-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tammie Reid
Formed
2012
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
110

Preparer

Firm
Scott J Loeffler CPA
Address
186 COLUMBIA TPKE 5145, FLORHAM PARK, NJ 07932
Preparer
Scott J Loeffler CPA
Phone
9735854989
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Increase in fund balance due to the change in FASB accounting regulations requiring student activity funds to be included in school .”

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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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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0135000
IRS990ScheduleD/TotalExpensesPerForm990Amt08948653
IRS990ScheduleD/TotalRevenuePerForm990Amt09182074
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09182074
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt08948653
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 independent outside accountant 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/ExplanationTxt4Increase in fund balance due to the change in FASB accounting regulations requiring student activity funds to be included in 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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01086302
IRS990/TotalAssetsEOYAmt01599762
IRS990/TotalAssetsGrp/BOYAmt01086302
IRS990/TotalAssetsGrp/EOYAmt01599762
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt09180282
IRS990/TotalEmployeeCnt0110
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01254516
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt07694137
IRS990/TotalFunctionalExpensesGrp/TotalAmt08948653
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0880998
IRS990/TotalLiabilitiesEOYAmt01147996
IRS990/TotalLiabilitiesGrp/BOYAmt0880998
IRS990/TotalLiabilitiesGrp/EOYAmt01147996
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0205304
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0451766
IRS990/TotalProgramServiceExpensesAmt07694137
IRS990/TotalProgramServiceRevenueAmt01792
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09182074
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01086302
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01599762
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0342 CENTRAL AVE
IRS990/USAddress/CityNm0NEWARK
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007103
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0PACSNEWARK.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MIGDALIA DALE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD SECRETARY
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-11
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/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCOTT J LOEFFLER CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0186 COLUMBIA TPKE 5145
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FLORHAM PARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007932
ReturnHeader/PreparerPersonGrp/PhoneNum09735854989
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SCOTT J LOEFFLER CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-05-11T07:49:45-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,599,762
Liabilities
$1,147,996
Net assets
$451,766
Revenue
$9,182,074
Expenses
$8,948,653
Net income
$233,421
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
2021Detailed filing. Detailed filing data is available for this year.$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
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