Civic Intelligence

Wheatley School Facility Foundation Inc

990 • Fiscal year 2016 • EIN 46-1988283

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 08, 2017

Organization ProfileN/A
909 Poydras St Suite 1200New Orleans, LA 70112

(504) 373-6200

Siviq Scores

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

Liabilities / Assets

56th percentile

0.33x

Higher debt load relative to assets than 56% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

27.31x

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

2nd percentile

-207%

Higher net margin than 2% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

12th percentile

-6.7%

Faster asset growth than 12% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

10th percentile

-33%

Faster revenue growth than 10% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$28,493,692

Down $2,039,943 (-6.7%) from 2015

Net Assets

Down

$19,137,160

Down $707,693 (-3.6%) from 2015

Liabilities

Down

$9,356,532

Down $1,332,250 (-12%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Down

$342,584

Down $165,210 (-33%) from 2015

Expenses

Down

$1,050,277

Down $19,758 (-1.8%) from 2015

Net Income

Down

-$707,693

Down $145,452 (-26%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$40M$30M$20M$10M$0Assets 2013: $32,597,056Liabilities 2013: $13,372,882Net Assets 2013: $19,224,1742013Assets 2014: $31,537,586Liabilities 2014: $11,130,492Net Assets 2014: $20,407,0942014Assets 2015: $30,533,635Liabilities 2015: $10,688,782Net Assets 2015: $19,844,8532015Assets 2016: $28,493,692Liabilities 2016: $9,356,532Net Assets 2016: $19,137,1602016Assets 2017: $27,873,082Liabilities 2017: $9,442,464Net Assets 2017: $18,430,6182017Assets 2018: $27,178,358Liabilities 2018: $9,441,672Net Assets 2018: $17,736,6862018Assets 2019: $26,521,934Liabilities 2019: $9,483,633Net Assets 2019: $17,038,3012019Assets 2020: $186,771Liabilities 2020: $2,986Net Assets 2020: $183,7852020Assets 2021: $29,496Liabilities 2021: $2,986Net Assets 2021: $26,5102021Assets 2022: $18,459Liabilities 2022: $2,988Net Assets 2022: $15,4712022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2016

Assets$28,493,692
Liabilities$9,356,532
Net Assets$19,137,160
Open 2016 Filing

Operations Trend

Revenue Growth10th percentile

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

$20M$10M$0-$10M-$20MRevenue 2013: $19,257,068Expenses 2013: $32,894Net Income 2013: $19,224,1742013Revenue 2014: $1,670,924Expenses 2014: $488,004Net Income 2014: $1,182,9202014Revenue 2015: $507,794Expenses 2015: $1,070,035Net Income 2015: -$562,2412015Revenue 2016: $342,584Expenses 2016: $1,050,277Net Income 2016: -$707,6932016Revenue 2017: $330,341Expenses 2017: $1,036,883Net Income 2017: -$706,5422017Revenue 2018: $344,563Expenses 2018: $1,038,494Net Income 2018: -$693,9312018Revenue 2019: $344,571Expenses 2019: $1,042,956Net Income 2019: -$698,3852019Revenue 2020: $171,179Expenses 2020: $17,025,695Net Income 2020: -$16,854,5162020Revenue 2021: $0Expenses 2021: $157,275Net Income 2021: -$157,2752021Revenue 2022: $0Expenses 2022: $11,039Net Income 2022: -$11,0392022Revenue 2023: $0Expenses 2023: $8,111Net Income 2023: -$8,1112023

Highlighted filing

2016

Revenue$342,584
Expenses$1,050,277
Net Income-$707,693
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 8, 2017
Return Version
2016v3.0
Gross Receipts
$342,584
Mission and Program Overview

Mission

To design, finance, construct, equip, maintain, and lease the phyllis wheatley elementary school in new orleans, louisiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$28,758,859$27,908,560▼ $850,299
Cash and Non-Interest-Bearing Accounts$244,059$371,547▲ $127,488
Accounts Receivable$27,689$83,898▲ $56,209
Prepaid Expenses and Deferred Charges$6,395$6,385▼ $10
Total Assets$29,161,008$28,493,692▼ $667,316
Other Assets Total$124,006$123,302▼ $704
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,372,373$8,414,933▲ $42,560
Other Liabilities$938,033$938,033→ $0
Accounts Payable and Accrued Expenses$5,749$3,566▼ $2,183
Total Liabilities$9,316,155$9,356,532▲ $40,377
Net Assets / Fund Balance
Unrestricted Net Assets$19,844,853$19,137,160▼ $707,693
Total Net Assets Fund Balance$19,844,853$19,137,160▼ $707,693
Total Liabilities and Net Assets / Fund Balance$29,161,008$28,493,692▼ $667,316

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$27,669,344$2,078,453-
Land$239,216--
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Ramsey GreenChair
Jeff SchwartzBoard Member
Kyle WalkerBoard Member
Wil JacobsTreasurer-secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$120
Other Revenue
$342,464
Change in Net Assets
$-707,693

Audited Revenue Reconciliation

Revenue per Audited Statements
$342,584
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$342,584
Total Revenue per Form 990
$342,584
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,037,277
Grants and Similar Amounts Paid$13,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$850,299--$850,299
Interest$140,012--$140,012
Other Expenses$19,326--$19,326
Fees for Services Accounting$15,080--$15,080
Grants to Domestic Orgs$13,000--$13,000
Fees for Services Other$9,760--$9,760
Fees for Services Management$2,000--$2,000
Office Expenses$500--$500
Fees for Services Legal$300--$300
Total Functional Expenses$1,050,277$0$0$1,050,277

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,050,277
Total Expenses per Audited Statements$1,050,277
Total Expenses per Form 990$1,050,277
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
New Orleans School Facility Finance Foundation IncNew Orleans, LA501(c)(3)To Fund New Orleans School Facility Foundation Stair Grant and Operation Spark.$13,000
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
Developer Fee Payable$938,033
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 11B

“Form 990 is prepared by accountants, then reviewed by an administrative agent prior to review and approval by the board.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Wheatley School Facility Foundation Inc
EIN
46-1988283
Phone
5043736200
Address
909 POYDRAS ST SUITE 1200, NEW ORLEANS, LA 70112

Signing Officer

Name
Ramsey Green
Title
Chair
Phone
5043736200
Signed
2017-08-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ramsey Green
Formed
2013
Legal Domicile
La
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Novogradac & Company Llp
Address
3025 NORTH WOOSTER AVENUE, DOVER, OH 44622
Preparer
John S Sciarretti
Phone
3303655400
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization assumes responsibility for oversight of the audit and selection of the independent accountant.”

Financial Statement Notes

PART X, LINE 2:

“The preparation of financial statements in accordance with accounting principles generally accepted in the united states of america requires the organization to report information regarding its exposure to various tax positions taken by the organization. The organization has determined whether any tax positions have met the recognition threshold and have measured the organization's exposure to those tax positions. Management believes that the organization has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities.”

Raw XML Appendix350 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PREPARATION OF FINANCIAL STATEMENTS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. THE ORGANIZATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAVE MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS PREPARED BY ACCOUNTANTS, THEN REVIEWED BY AN ADMINISTRATIVE AGENT PRIOR TO REVIEW AND APPROVAL BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0LA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt029161008
IRS990/TotalAssetsEOYAmt028493692
IRS990/TotalAssetsGrp/BOYAmt029161008
IRS990/TotalAssetsGrp/EOYAmt028493692
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01050277
IRS990/TotalFunctionalExpensesGrp/TotalAmt01050277
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09316155
IRS990/TotalLiabilitiesEOYAmt09356532
IRS990/TotalLiabilitiesGrp/BOYAmt09316155
IRS990/TotalLiabilitiesGrp/EOYAmt09356532
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt019844853
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt019137160
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01050277
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0120
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0342464
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0342584
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd070112
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RAMSEY GREEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum05043736200
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-08-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WHEATLEY SCHOOL FACILITY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0WHEA
ReturnHeader/Filer/EIN0461988283
ReturnHeader/Filer/PhoneNum05043736200
ReturnHeader/Filer/USAddress/AddressLine1Txt0909 POYDRAS ST SUITE 1200
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0EBEC1FEC1CEB442EBA1086F10C7327E862377535
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0EBEC1FEC1CEB442EBA1086F10C7327E862377535
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.142.255.50
ReturnHeader/FilingSecurityInformation/IPDt02017-08-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm011:42:04
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0943108253
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NOVOGRADAC & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03025 NORTH WOOSTER AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DOVER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044622
ReturnHeader/PreparerPersonGrp/PhoneNum03303655400
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN S SCIARRETTI
ReturnHeader/ReturnTs02017-08-08T15:18:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,493,692
Liabilities
$9,356,532
Net assets
$19,137,160
Revenue
$342,584
Expenses
$1,050,277
Net income
-$707,693
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.01$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.00$0.01$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.00$0.16$0.16
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.19$0.00$0.18$0.17$17.0$16.9
2019Detailed filing. Detailed filing data is available for this year.$26.5$9.48$17.0$0.34$1.04$0.70
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.2$9.44$17.7$0.34$1.04$0.69
2017Detailed filing. Detailed filing data is available for this year.$27.9$9.44$18.4$0.33$1.04$0.71
2016Detailed filing. Detailed filing data is available for this year.$28.5$9.36$19.1$0.34$1.05$0.71
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.5$10.7$19.8$0.51$1.07$0.56
2014Detailed filing. Detailed filing data is available for this year.$31.5$11.1$20.4$1.67$0.49$1.18
2013Detailed filing. Detailed filing data is available for this year.$32.6$13.4$19.2$19.3$0.03$19.2