Civic Intelligence

Wheatley School Facility Foundation Inc

990 • Fiscal year 2017 • EIN 46-1988283

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

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

58th percentile

0.34x

Higher debt load relative to assets than 58% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

28.58x

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

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

1st percentile

-214%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

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.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

21st percentile

-2.2%

Faster asset growth than 21% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

24th percentile

-3.6%

Faster revenue growth than 24% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$27,873,082

Down $620,610 (-2.2%) from 2016

Net Assets

Down

$18,430,618

Down $706,542 (-3.7%) from 2016

Liabilities

Up

$9,442,464

Up $85,932 (+0.9%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Down

$330,341

Down $12,243 (-3.6%) from 2016

Expenses

Down

$1,036,883

Down $13,394 (-1.3%) from 2016

Net Income

Up

-$706,542

Up $1,151 (+0.2%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth21st 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

2017

Assets$27,873,082
Liabilities$9,442,464
Net Assets$18,430,618
Open 2017 Filing

Operations Trend

Revenue Growth24th 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

2017

Revenue$330,341
Expenses$1,036,883
Net Income-$706,542
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$330,341
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$27,908,560$27,058,262▼ $850,298
Cash and Non-Interest-Bearing Accounts$371,547$694,575▲ $323,028
Accounts Receivable$83,898$0▼ $83,898
Prepaid Expenses and Deferred Charges$6,385$6,385→ $0
Total Assets$28,493,692$27,873,082▼ $620,610
Other Assets Total$123,302$113,860▼ $9,442
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,414,933$8,457,493▲ $42,560
Other Liabilities$938,033$966,559▲ $28,526
Accounts Payable and Accrued Expenses$3,566$18,412▲ $14,846
Total Liabilities$9,356,532$9,442,464▲ $85,932
Net Assets / Fund Balance
Unrestricted Net Assets$19,137,160$18,430,618▼ $706,542
Total Net Assets Fund Balance$19,137,160$18,430,618▼ $706,542
Total Liabilities and Net Assets / Fund Balance$28,493,692$27,873,082▼ $620,610

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$26,819,046$2,928,751-
Land$239,216--
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Wil JacobsChair
Jeff SchwartzBoard Member
Kyle WalkerTreasurer-secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$114
Other Revenue
$330,227
Change in Net Assets
$-706,542

Audited Revenue Reconciliation

Revenue per Audited Statements
$330,341
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$330,341
Total Revenue per Form 990
$330,341
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,036,883
Grants and Similar Amounts Paid$0
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
Fees for Services Accounting$23,215--$23,215
Fees for Services Management$2,400--$2,400
Fees for Services Other$878--$878
Other Expenses$550--$550
Fees for Services Legal$212--$212
Total Functional Expenses$1,036,883$0$0$1,036,883

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,036,883
Total Expenses per Audited Statements$1,036,883
Total Expenses per Form 990$1,036,883
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Prepaid Rent$28,526
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
Wil Jacobs
Title
Chair
Phone
5043736200
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wil Jacobs
Formed
2013
Legal Domicile
La
Voting Board Members
3
Independent Board Members
3
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 Appendix333 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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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
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01036883
IRS990/TotalFunctionalExpensesGrp/TotalAmt01036883
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09356532
IRS990/TotalLiabilitiesEOYAmt09442464
IRS990/TotalLiabilitiesGrp/BOYAmt09356532
IRS990/TotalLiabilitiesGrp/EOYAmt09442464
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt019137160
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt018430618
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01036883
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0114
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0330227
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0330341
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt028493692
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt027873082
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt019137160
IRS990/UnrestrictedNetAssetsGrp/EOYAmt018430618
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0909 POYDRAS ST SUITE 1200
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IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd070112
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WIL JACOBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum05043736200
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-15
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
ReturnHeader/Filer/USAddress/CityNm0NEW ORLEANS
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ReturnHeader/Filer/USAddress/ZIPCd070112
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId030B317D803A5E952CCA5B3359EF296DA565D4D3A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId030B317D803A5E952CCA5B3359EF296DA565D4D3A
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.142.255.50
ReturnHeader/FilingSecurityInformation/IPDt02018-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm010:43:35
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/ReturnTs02018-11-15T11:50:30-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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
$27,873,082
Liabilities
$9,442,464
Net assets
$18,430,618
Revenue
$330,341
Expenses
$1,036,883
Net income
-$706,542
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