Civic Intelligence

Charlotte Education Foundation

990 • Fiscal year 2016 • EIN 46-4239471

Jul 01, 2015 to Jun 30, 2016 • Filed on May 15, 2017

Organization ProfileWWW.QUEENCITYSTEM.ORG
8701 Mallard Creek RdCharlotte, NC 28262-6006

(980) 299-6633

Siviq Scores

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

Liabilities / Assets

96th percentile

1.40x

Higher debt load relative to assets than 96% of similar nonprofits.

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

Liabilities / Revenue

71st percentile

0.33x

Higher debt load relative to revenue than 71% of similar nonprofits.

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

Net Margin

23rd percentile

-9.6%

Higher net margin than 23% of similar nonprofits.

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

Top Officer Pay

43rd percentile

$46,021

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

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

Asset Growth

100th percentile

52634600%

Faster asset growth than 100% of similar nonprofits.

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

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$526,347

Up $526,346 (+52634600%) from 2015

Net Assets

-$213,109

No earlier filing loaded for comparison.

Liabilities

Up

$739,456

Up $739,456 from 2015

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin23rd percentile

Revenue

Up

$2,215,566

Up $2,215,566 from 2015

Expenses

Up

$2,428,675

Up $2,428,675 from 2015

Net Income

Down

-$213,109

Down $213,109 from 2015

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2014: $1Liabilities 2014: $02014Assets 2015: $1Liabilities 2015: $02015Assets 2016: $526,347Liabilities 2016: $739,456Net Assets 2016: -$213,1092016Assets 2017: $282,015Liabilities 2017: $670,280Net Assets 2017: -$388,2652017Assets 2018: $10,550,359Liabilities 2018: $11,602,227Net Assets 2018: -$1,051,8682018Assets 2019: $16,079,302Liabilities 2019: $17,412,555Net Assets 2019: -$1,333,2532019Assets 2020: $16,697,195Liabilities 2020: $17,844,540Net Assets 2020: -$1,147,3452020Assets 2021: $17,162,280Liabilities 2021: $17,189,573Net Assets 2021: -$27,2932021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2016

Assets$526,347
Liabilities$739,456
Net Assets-$213,109
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0-$5.0MRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $0Expenses 2015: $0Net Income 2015: $02015Revenue 2016: $2,215,566Expenses 2016: $2,428,675Net Income 2016: -$213,1092016Revenue 2017: $2,845,807Expenses 2017: $3,020,963Net Income 2017: -$175,1562017Revenue 2018: $4,059,680Expenses 2018: $4,723,283Net Income 2018: -$663,6032018Revenue 2019: $4,439,759Expenses 2019: $4,721,144Net Income 2019: -$281,3852019Revenue 2020: $6,243,082Expenses 2020: $6,057,174Net Income 2020: $185,9082020Revenue 2021: $8,684,444Expenses 2021: $7,564,392Net Income 2021: $1,120,0522021Revenue 2022: $8,634,032Expenses 2022: $8,785,162Net Income 2022: -$151,1302022

Highlighted filing

2016

Revenue$2,215,566
Expenses$2,428,675
Net Income-$213,109
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 15, 2017
Return Version
2015v3.0
Gross Receipts
$2,215,566
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$293,519-
Accounts Receivable-$232,828-
Total Assets$0$526,347▲ $526,347
Liabilities
Other Liabilities-$639,424-
Accounts Payable and Accrued Expenses-$100,032-
Total Liabilities$0$739,456▲ $739,456
Net Assets / Fund Balance
Unrestricted Net Assets-$-213,109-
Total Net Assets Fund Balance$0$-213,109▼ $213,109
Total Liabilities and Net Assets / Fund Balance$0$526,347▲ $526,347

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$293,519$21,937$315,456
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleBaseTotal
Atila AkyurekPrincipal$46,021$46,021

Board Members and Trustees

NameTitle
Dr Ali TombakPresident
Dr Mustafa AtayDirector
Fatih OguzDirector
Lisa KelleyDirector
Fatih KandilSecretary
Fahrudin MekicTreasurer
Carlton L CammonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$55,987
Program Service Revenue
$2,159,579
Investment Income
$0
Other Revenue
$0
All Other Contributions
$33,698
Change in Net Assets
$-213,109

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,215,566
Total Revenue per Audited Statements
$2,215,566
Total Revenue per Form 990
$2,215,566
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,283,706
Other Expenses$1,144,969
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$836,649$74,291-$910,940
Occupancy$359,381$63,500-$422,881
Fees for Services Other$94,832$118,154-$212,986
Other Employee Benefits$132,511$14,234-$146,745
Current Officers, Directors, Trustees, and Key Employees$112,000$28,000-$140,000
All Other Expenses$34,226$52,815-$87,041
Payroll Taxes$77,677$8,344-$86,021
Office Expenses$29,608$12,483-$42,091
Other Expenses$31,028$10,343-$41,371
Advertising-$29,121-$29,121
Insurance-$26,608-$26,608
Depreciation Depletion-$21,937-$21,937
Fees for Services Legal-$15,101-$15,101
Conferences and Meetings$6,769--$6,769
Travel$49$6,169-$6,218
Interest-$5,951-$5,951
Total Functional Expenses$1,940,024$488,651$0$2,428,675

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,428,675
Total Expenses per Audited Statements$2,428,675
Total Expenses per Form 990$2,428,675
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraisers$21,389---
Total Events$21,389---
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due Related Party (triad Math)$267,000
Due Related Party (triad Ed)$226,000
Cash Overdraft$146,424
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“President reviews the 990 prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The board of directors reviews the policy annually. If any conflicts arise they are reviewed and resolved by the board of directors.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors approves compensation for the top management official. Salary based on state and district salary schedules and school size.”

Form 990, Page 6, Part VI, Line 15B

“No other officers are compensated. All other compensation is based on state and district salary schedules.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, school policies, and financial statements are available for viewing by the public at the organization's office upon request.”

Filing and Contact Details

Filer

Filer Name
Charlotte Education Foundation
EIN
46-4239471
Phone
9802996633
Address
8701 MALLARD CREEK RD, CHARLOTTE, NC 28262-6006
Doing Business As
Queen City Stem Academy

Signing Officer

Name
Dr Ali Tombak
Title
President
Phone
9802996633
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Ali Tombak
Formed
2013
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
51

Preparer

Firm
Petway Mills & Pearson Pa
Address
PO BOX 1036, ZEBULON, NC 27597-1036
Preparer
James a Ridoutt
Phone
9192697405
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0CHARLOTTE EDUCATION ACADEMY OPERATES A PUBLIC CHARTER SCHOOL AND IS FUNDED BY THE STATE OF NORTH CAROLINA AND LOCAL GOVERNMENT. NORTH CAROLINA REQUIRES A POLICY OF NONDISCRIMINATION AND THE SCHOOL'S NONDISCRIMINATION POLICY IS DISCLOSED IN ALL SOLICITATIONS FOR THE STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt16A) NORTH CAROLINA CHARTER SCHOOL, FUNDED BY STATE & LOCAL GOVERNMENT. ALSO RECEIVES VARIOUS FEDERAL AND STATE GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt021389
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt021389
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FUNDRAISERS
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt021389
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt021389
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRESIDENT REVIEWS THE 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEWS THE POLICY ANNUALLY. IF ANY CONFLICTS ARISE THEY ARE REVIEWED AND RESOLVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS APPROVES COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL. SALARY BASED ON STATE AND DISTRICT SALARY SCHEDULES AND SCHOOL SIZE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO OTHER OFFICERS ARE COMPENSATED. ALL OTHER COMPENSATION IS BASED ON STATE AND DISTRICT SALARY SCHEDULES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, SCHOOL POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR VIEWING BY THE PUBLIC AT THE ORGANIZATION'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TRIAD EDUCATIONAL SERVICES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1TRIAD MATH & SCIENCE ACADEMY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0272186510
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1208471670
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ED SVCS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt09
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt12
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0123 SHORELAKE DR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1700 CREEK RIDGE ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0GREENSBORO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1GREENSBORO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027455
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd127406
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0226000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1180000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt287000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0TRIAD EDUCATIONAL SERVICES
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1TRIAD MATH AND SCIENCE ACADEMY
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2TRIAD MATH AND SCIENCE ACADEMY
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1E
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2M
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt0526347
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0526347
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt055987
IRS990/TotalEmployeeCnt051
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0488651
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01940024
IRS990/TotalFunctionalExpensesGrp/TotalAmt02428675
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0739456
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0739456
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-213109
IRS990/TotalProgramServiceExpensesAmt01940024
IRS990/TotalProgramServiceRevenueAmt02159579
IRS990/TotalReportableCompFromOrgAmt046021
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02159579
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02215566
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0526347
IRS990/TravelGrp/ManagementAndGeneralAmt06169
IRS990/TravelGrp/ProgramServicesAmt049
IRS990/TravelGrp/TotalAmt06218
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-213109
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08701 MALLARD CREEK RD
IRS990/USAddress/CityNm0CHARLOTTE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028262
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.QUEENCITYSTEM.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z

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
$526,347
Liabilities
$739,456
Net assets
-$213,109
Revenue
$2,215,566
Expenses
$2,428,675
Net income
-$213,109
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$8.63$8.79$0.15
2021Detailed filing. Detailed filing data is available for this year.$17.2$17.2$0.03$8.68$7.56$1.12
2020Detailed filing. Detailed filing data is available for this year.$16.7$17.8$1.15$6.24$6.06$0.19
2019Detailed filing. Detailed filing data is available for this year.$16.1$17.4$1.33$4.44$4.72$0.28
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.6$11.6$1.05$4.06$4.72$0.66
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.67$0.39$2.85$3.02$0.18
2016Detailed filing. Detailed filing data is available for this year.$0.53$0.74$0.21$2.22$2.43$0.21
2015Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00