Civic Intelligence

Chapelside Cleveland Academy

990 • Fiscal year 2016 • EIN 46-2556079

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 08, 2017

Organization ProfileWWW.THE-ACADEMIES.COM
3845 East 131st StreetCleveland, OH 44120

(216) 283-6589

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.10x

Higher debt load relative to assets than 93% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

86th percentile

1.20x

Higher debt load relative to revenue than 86% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

33rd percentile

-3.1%

Higher net margin than 33% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

77th percentile

14%

Faster asset growth than 77% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

17th percentile

-18%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$3,714,126

Up $455,608 (+14%) from 2015

Net Assets

Down

-$376,780

Down $105,232 (-39%) from 2015

Liabilities

Up

$4,090,906

Up $560,840 (+16%) from 2015

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin33rd percentile

Revenue

Down

$3,416,387

Down $767,018 (-18%) from 2015

Expenses

Down

$3,521,619

Down $1,095,744 (-24%) from 2015

Net Income

Up

-$105,232

Up $328,726 (+76%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2014: $307,355Liabilities 2014: $243,796Net Assets 2014: $63,5592014Assets 2015: $3,258,518Liabilities 2015: $3,530,066Net Assets 2015: -$271,5482015Assets 2016: $3,714,126Liabilities 2016: $4,090,906Net Assets 2016: -$376,7802016Assets 2017: $2,395,960Liabilities 2017: $4,124,167Net Assets 2017: -$1,728,2072017Assets 2018: $1,634,372Liabilities 2018: $3,484,587Net Assets 2018: -$1,850,2152018Assets 2019: $1,107,771Liabilities 2019: $3,186,422Net Assets 2019: -$2,078,6512019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2016

Assets$3,714,126
Liabilities$4,090,906
Net Assets-$376,780
Open 2016 Filing

Operations Trend

Revenue Growth17th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $4,240,784Expenses 2014: $4,177,225Net Income 2014: $63,5592014Revenue 2015: $4,183,405Expenses 2015: $4,617,363Net Income 2015: -$433,9582015Revenue 2016: $3,416,387Expenses 2016: $3,521,619Net Income 2016: -$105,2322016Revenue 2017: $2,781,143Expenses 2017: $3,429,237Net Income 2017: -$648,0942017Revenue 2018: $2,785,424Expenses 2018: $2,331,283Net Income 2018: $454,1412018Revenue 2019: $3,156,139Expenses 2019: $3,384,575Net Income 2019: -$228,4362019Revenue 2020: $2,840,930Expenses 2020: $2,684,349Net Income 2020: $156,5812020

Highlighted filing

2016

Revenue$3,416,387
Expenses$3,521,619
Net Income-$105,232
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 8, 2017
Return Version
2015v3.0
Gross Receipts
$3,416,387
Mission and Program Overview

Mission

"it is our mission to provide an effective, consistent, and academically rigorous education in a safe, disciplined, and nurturing environment. We will empower students to reach their fullest potential by implementing a comprehensive curriculum facilitated by highly effective educators in collaboration with families in the community, and supported by progressive technology."

Provide a high quality alternative education opportunity for children ages 5-14, grades k-8

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$3,110,141$3,519,464▲ $409,323
Cash and Non-Interest-Bearing Accounts$104,490$137,102▲ $32,612
Pledges and Grants Receivable$43,887$57,560▲ $13,673
Total Assets$3,258,518$3,714,126▲ $455,608
Liabilities
Other Liabilities$2,960,348$3,823,806▲ $863,458
Deferred Revenue$534,084$189,125▼ $344,959
Grants Payable$33,737$44,038▲ $10,301
Accounts Payable and Accrued Expenses$1,897$33,937▲ $32,040
Total Liabilities$3,530,066$4,090,906▲ $560,840
Net Assets / Fund Balance
Unrestricted Net Assets$-271,548$-376,780▼ $105,232
Total Net Assets Fund Balance$-271,548$-376,780▼ $105,232
Total Liabilities and Net Assets / Fund Balance$3,258,518$3,714,126▲ $455,608
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
PATRICK O'BRIENPresident
Christopher ClarkBoard Member
Steven GonzalesBoard Member
Jeffrey a Foster CPAFiscal Officer
James VickersSecretary, Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sta Chapelside LLCEducational Management121 SOUTH MAIN ST SUITE 200, Akron, OH 44308$3,264,749
Revenue and Support

Revenue Composition

Contributions and Grants
$3,395,888
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$20,499
Change in Net Assets
$-105,232

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,416,387
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,416,387
Total Revenue per Form 990
$3,416,387
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,411,499
Salaries, Compensation, and Employee Benefits$110,120
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$3,264,749--$3,264,749
Pension Plan Contributions$110,120--$110,120
Other Expenses-$24,187-$24,187
Fees for Services Accounting-$21,564-$21,564
Fees for Services Legal-$16,173-$16,173
Insurance-$5,747-$5,747
Office Expenses-$94-$94
Total Functional Expenses$3,374,869$146,750$0$3,521,619

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,521,619
Total Expenses per Audited Statements$3,521,619
Total Expenses per Form 990$3,521,619
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
Net Pension$3,823,806
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The school contracts with sta chapelside, llc for most of its functions. Sta chapelside, llc is responsible and accountable to the school's board of directors for the administration and operation of the school. The school is required to pay sta chapelside, llc a continuing fee of 95 percent of the school's "qualified gross revenues and sta chapelside, llc is responsible for all costs incurred in providing the educational program at the school. While control over the management duties of the school has been delegated to sta chapelside, llc by virtue of the management agreement, the governing authority still has the overall responsibilty to oversee the accounting procedures.”

Form 990, Part VI, Section B, Line 11

“A copy of the completed form 990 is sent to the board president and school treasurer to be reviewed and signed before filing.”

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

“The governing authority reviews the conflict of interest policy annually.”

Form 990, Part VI, Section C, Line 19

“Upon written or verbal request, documents are made available to the public. However, for the end of the year unaudited financials, a public notice is placed in the local papers stating that the unaudited financials are available for review.”

Filing and Contact Details

Filer

Filer Name
Chapelside Cleveland Academy
EIN
46-2556079
Phone
2162836589
Address
3845 EAST 131ST STREET, CLEVELAND, OH 44120

Signing Officer

Name
Kim Henry
Title
President
Phone
2162836589
Signed
2017-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Henry
Formed
2013
Legal Domicile
Oh
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Skoda Minotti & Co
Address
3320 WEST MARKET STREET STE 300, FAIRLAWN, OH 44333
Preparer
Jeffrey a Foster CPA
Phone
3306681100
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization does have a committee that assumes oversight responsibility of the audit, review of its financial statements, and selection of an independent accountant. This is the policy put in place since inception.”

Raw XML Appendix347 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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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY, TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
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IRS990/MissionDesc0"IT IS OUR MISSION TO PROVIDE AN EFFECTIVE, CONSISTENT, AND ACADEMICALLY RIGOROUS EDUCATION IN A SAFE, DISCIPLINED, AND NURTURING ENVIRONMENT. WE WILL EMPOWER STUDENTS TO REACH THEIR FULLEST POTENTIAL BY IMPLEMENTING A COMPREHENSIVE CURRICULUM FACILITATED BY HIGHLY EFFECTIVE EDUCATORS IN COLLABORATION WITH FAMILIES IN THE COMMUNITY, AND SUPPORTED BY PROGRESSIVE TECHNOLOGY."
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0A STATEMENT READING "ALL EDUCATIONAL PROGRAMS ARE AVAILABLE WITHOUT REGARD TO RACE, COLOR, NATIONAL ORIGIN, SEX OR DISABILITY" IS ALWAYS INCLUDED. THIS STATEMENT IS PUBLISHED IN THE PARENT/STUDENT HANDBOOK, BOARD POLICY BOOK AND ON THE WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT PROVIDE SCHOLARSHIPS OR FINANCIAL ASSISTANCE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL CURRENTLY PARTICIPATES IN THE STATE FOUNDATION PROGRAM. REVENUES RECEIVED FROM THIS PROGRAM ARE RECOGNIZED AS OPERATING REVENUES IN THE ACCOUNTING PERIOD IN WHICH ALL ELIGIBILITY REQUIREMENTS HAVE BEEN MET. THE SCHOOL ALSO PARTICIPATES IN THE FEDERAL CHARTER SCHOOL GRANT PROGRAM THROUGH THE OHIO DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL CONTRACTS WITH STA CHAPELSIDE, LLC FOR MOST OF ITS FUNCTIONS. STA CHAPELSIDE, LLC IS RESPONSIBLE AND ACCOUNTABLE TO THE SCHOOL'S BOARD OF DIRECTORS FOR THE ADMINISTRATION AND OPERATION OF THE SCHOOL. THE SCHOOL IS REQUIRED TO PAY STA CHAPELSIDE, LLC A CONTINUING FEE OF 95 PERCENT OF THE SCHOOL'S "QUALIFIED GROSS REVENUES AND STA CHAPELSIDE, LLC IS RESPONSIBLE FOR ALL COSTS INCURRED IN PROVIDING THE EDUCATIONAL PROGRAM AT THE SCHOOL. WHILE CONTROL OVER THE MANAGEMENT DUTIES OF THE SCHOOL HAS BEEN DELEGATED TO STA CHAPELSIDE, LLC BY VIRTUE OF THE MANAGEMENT AGREEMENT, THE GOVERNING AUTHORITY STILL HAS THE OVERALL RESPONSIBILTY TO OVERSEE THE ACCOUNTING PROCEDURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE COMPLETED FORM 990 IS SENT TO THE BOARD PRESIDENT AND SCHOOL TREASURER TO BE REVIEWED AND SIGNED BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING AUTHORITY REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON WRITTEN OR VERBAL REQUEST, DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. HOWEVER, FOR THE END OF THE YEAR UNAUDITED FINANCIALS, A PUBLIC NOTICE IS PLACED IN THE LOCAL PAPERS STATING THAT THE UNAUDITED FINANCIALS ARE AVAILABLE FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DOES HAVE A COMMITTEE THAT ASSUMES OVERSIGHT RESPONSIBILITY OF THE AUDIT, REVIEW OF ITS FINANCIAL STATEMENTS, AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS IS THE POLICY PUT IN PLACE SINCE INCEPTION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03258518
IRS990/TotalAssetsEOYAmt03714126
IRS990/TotalAssetsGrp/BOYAmt03258518
IRS990/TotalAssetsGrp/EOYAmt03714126
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03395888
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0146750
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03374869
IRS990/TotalFunctionalExpensesGrp/TotalAmt03521619
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03530066
IRS990/TotalLiabilitiesEOYAmt04090906
IRS990/TotalLiabilitiesGrp/BOYAmt03530066
IRS990/TotalLiabilitiesGrp/EOYAmt04090906
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-271548
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-376780
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03374869
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt020499
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03416387
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03258518
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03714126
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-271548
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-376780
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03845 EAST 131ST STREET
IRS990/USAddress/CityNm0CLEVELAND
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044120
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.THE-ACADEMIES.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KIM HENRY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02162836589
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHAPELSIDE CLEVELAND ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0CHAP
ReturnHeader/Filer/EIN0462556079
ReturnHeader/Filer/PhoneNum02162836589
ReturnHeader/Filer/USAddress/AddressLine1Txt03845 EAST 131ST STREET
ReturnHeader/Filer/USAddress/CityNm0CLEVELAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044120
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341945206
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SKODA MINOTTI & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03320 WEST MARKET STREET STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FAIRLAWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044333
ReturnHeader/PreparerPersonGrp/PhoneNum03306681100
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY A FOSTER CPA
ReturnHeader/ReturnTs02017-02-24T10:24:02-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

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
$3,714,126
Liabilities
$4,090,906
Net assets
-$376,780
Revenue
$3,416,387
Expenses
$3,521,619
Net income
-$105,232
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$2.84$2.68$0.16
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$3.19$2.08$3.16$3.38$0.23
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.63$3.48$1.85$2.79$2.33$0.45
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.40$4.12$1.73$2.78$3.43$0.65
2016Detailed filing. Detailed filing data is available for this year.$3.71$4.09$0.38$3.42$3.52$0.11
2015Detailed filing. Detailed filing data is available for this year.$3.26$3.53$0.27$4.18$4.62$0.43
2014Summary only. Only limited summary data is available for this year.$0.31$0.24$0.06$4.24$4.18$0.06