Civic Intelligence

The Hope Academy

990 • Fiscal year 2017 • EIN 46-4845929

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

Organization ProfileN/A
1000 Eddy StProvidence, RI 02905

(401) 533-9100

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2017

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

69th percentile

12%

Higher net margin than 69% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

Score unavailable

No value available

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

Annualized from 2016 to 2017

Revenue Growth

84th percentile

42%

Faster revenue growth than 84% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Flat

$0

Flat from 2016

Net Assets

Flat

$0

Flat from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin69th percentile

Revenue

Up

$1,645,258

Up $483,825 (+42%) from 2016

Expenses

Up

$1,450,938

Up $272,824 (+23%) from 2016

Net Income

Up

$194,320

Up $211,001 (+1265%) from 2016

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Assets 2015: $54,525Liabilities 2015: $45,980Net Assets 2015: $8,5452015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017Assets 2018: $625,183Liabilities 2018: $153,079Net Assets 2018: $472,1042018Assets 2019: $872,035Liabilities 2019: $198,407Net Assets 2019: $673,6282019Assets 2020: $1,425,949Liabilities 2020: $585,646Net Assets 2020: $840,3032020Assets 2021: $1,585,925Liabilities 2021: $304,485Net Assets 2021: $1,281,4402021Assets 2022: $1,642,138Liabilities 2022: $169,593Net Assets 2022: $1,472,5452022Assets 2023: $5,922,457Liabilities 2023: $3,856,481Net Assets 2023: $2,065,9762023Assets 2024: $5,016,708Liabilities 2024: $2,808,681Net Assets 2024: $2,208,0272024

Highlighted filing

2017

Assets$0
Liabilities$0
Net Assets$0
Open 2017 Filing

Operations Trend

Revenue Growth84th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $812,008Expenses 2015: $803,463Net Income 2015: $8,5452015Revenue 2016: $1,161,433Expenses 2016: $1,178,114Net Income 2016: -$16,6812016Revenue 2017: $1,645,258Expenses 2017: $1,450,938Net Income 2017: $194,3202017Revenue 2018: $2,234,965Expenses 2018: $2,073,927Net Income 2018: $161,0382018Revenue 2019: $2,991,310Expenses 2019: $2,789,786Net Income 2019: $201,5242019Revenue 2020: $3,549,017Expenses 2020: $3,382,342Net Income 2020: $166,6752020Revenue 2021: $4,612,432Expenses 2021: $4,171,295Net Income 2021: $441,1372021Revenue 2022: $5,145,628Expenses 2022: $4,959,247Net Income 2022: $186,3812022Revenue 2023: $6,378,003Expenses 2023: $5,741,577Net Income 2023: $636,4262023Revenue 2024: $6,553,173Expenses 2024: $6,405,013Net Income 2024: $148,1602024

Highlighted filing

2017

Revenue$1,645,258
Expenses$1,450,938
Net Income$194,320
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$1,645,258
Mission and Program Overview

Mission

The hope academy is committed

The hope academy is committed to an educational model focusing on the academic and social success of each individual, preparing students to meet the challenges of secondary education and to become lifelong learners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Total Assets$0$0→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$0$0→ $0
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Angela HoltCurrent Head of SchoolFT$27,882$27,882
Margaret KnowltonSuperintendentPT$10,000$10,000

Board Members and Trustees

NameTitle
Mayor Charles a LombardiChairperson
Mayor Jorge O ElorzaVice Chairperson
Amanda McmullenDirector
David SluterDirector
Michael a Rocchio MdDirector
Bianca RodriguezDirector/founder
Courtney HawkinsDirector/mayor Designee
Deana TineoElected Parent Member
Matthew HarveyElected Parent Member
Michael DeragonElected Parent Member
John KellySecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,104,243
Program Service Revenue
$541,015
Investment Income
$0
Other Revenue
$0
All Other Contributions
$789
Change in Net Assets
$194,320

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,645,258
Total Revenue per Audited Statements
$1,645,258
Total Revenue per Form 990
$1,645,258
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$757,328
Other Expenses$693,610
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$461,731$0$0$461,731
Occupancy$197,775$27,225$0$225,000
Current Officers, Directors, Trustees, and Key Employees$135,042$63,654$0$198,696
Office Expenses$61,260$8,433$0$69,693
Other Employee Benefits$49,635$0$0$49,635
Payroll Taxes$43,823$0$0$43,823
Insurance$6,545$901$0$7,446
Pension Plan Contributions$3,443$0$0$3,443
Other Expenses$0$476$0$476
Total Functional Expenses$1,350,249$100,689$0$1,450,938

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,450,938
Total Expenses per Audited Statements$1,450,938
Total Expenses per Form 990$1,450,938
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Hope Academy
EIN
46-4845929
Phone
4015339100
Address
1000 EDDY ST, PROVIDENCE, RI 02905

Signing Officer

Name
Angela Holt
Title
Head of School
Phone
4015339100
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Ri
Voting Board Members
11
Independent Board Members
11
Employees
21
Volunteers
0

Preparer

Firm
Parmelee Poirier & Associates LLP
Address
469 Centerville Road Suite 203, Warwick, RI 02886
Preparer
Bernard a Poirier CPA
Phone
4017380010
Supplemental Narrative

Additional Explanations

Pt VI, Line 15B

“Salary adjustments are not automatic and are dependent upon the approval of the annual budget by the Board of Directors and the employee's performance and job responsibilities. The Head of School may recommend no increase depending on the employee's performance or the salary level of the position. Special salary adjustments may be made at the time of a promotion, demotion, for increased job responsibilities or based on market modifications. Salaries are generally reviewed annually. Any salary increase is based on merit and The Hope Academy's fiscal condition.”

Pt VI, Line 15A

“The superintendent evaluates the Head of School and recommends merit increases as a result.”

Pt VI, Line 12C

“All new employees sign a written conflict of interest statement at the time of hire. Conflict of interest is discussed at the orientation all new employees go through before they begin work. Employees are required to disclose conflicts of interests as they arise.”

Pt VI, Line 11B

“The 990 is reviewed by officers and ratified by the full board of directors.”

Pt X

“Hope Academy began the year with a bank account of cash overdrawn by $617. The $617 was for bank service fees. At this point in time, the organization did not yet receive any funding and was able to successfully negotiate the removal these service charges later within the fiscal year.”

Financial Statement Notes

Pt IV, Line 2B

“The hope academy is a custodian for student activity funds. Money is received from students and the pto organization to be held for future activities.”

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IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt0580900
IRS990/PYProgramServiceRevenueAmt0370739
IRS990/PYRevenuesLessExpensesAmt0-16681
IRS990/PYSalariesCompEmpBnftPaidAmt0597214
IRS990/PYTotalExpensesAmt01178114
IRS990/PYTotalRevenueAmt01161433
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0194320
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01527307
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BeginningBalanceAmt0667
IRS990ScheduleD/EndingBalanceAmt0667
IRS990ScheduleD/ExpensesSubtotalAmt01450938
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/RevenueSubtotalAmt01645258
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE HOPE ACADEMY IS A CUSTODIAN FOR STUDENT ACTIVITY FUNDS. MONEY IS RECEIVED FROM STUDENTS AND THE PTO ORGANIZATION TO BE HELD FOR FUTURE ACTIVITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt IV, Line 2b
IRS990ScheduleD/TotalExpensesPerForm990Amt01450938
IRS990ScheduleD/TotalRevenuePerForm990Amt01645258
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01645258
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01450938
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0false
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0HOPE ACADEMY COMMUNICATES ITS RACIALLY NONDISCRIMINATORY POLICY DIRECTLY ON THE APPLICATION FOR ADMISSION. HOPE ACADEMY COMMUNICATES ITS RACIALLY NONDISCRIMINATORY POLICY DIRECTLY ON THE APPLICATION FOR ADMISSION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt14B - THE HOPE ACADEMY DOES NOT OFFER SCHOLARSHIPS OR FINANCIAL ASSISTANCE. IT IS A PUBLIC SCHOOL WITHOUT TUITIONS;ADMISSION IS BASED ON LOTTERY. THE HOPE ACADEMY HAVE NOT, AS OF YET, SOLICITED CONTRIBUTIONS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION RECEIVED A CHARTER SCHOOL PLANNING & IMPLEMENTATION GRANT FROM FEDERAL SOURCES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 4d
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Salary adjustments are not automatic and are dependent upon the approval of the annual budget by the Board of Directors and the employee's performance and job responsibilities. The Head of School may recommend no increase depending on the employee's performance or the salary level of the position. Special salary adjustments may be made at the time of a promotion, demotion, for increased job responsibilities or based on market modifications. Salaries are generally reviewed annually. Any salary increase is based on merit and The Hope Academy's fiscal condition.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The superintendent evaluates the Head of School and recommends merit increases as a result.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All new employees sign a written conflict of interest statement at the time of hire. Conflict of interest is discussed at the orientation all new employees go through before they begin work. Employees are required to disclose conflicts of interests as they arise.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The 990 is reviewed by officers and ratified by the full board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Hope Academy began the year with a bank account of cash overdrawn by $617. The $617 was for bank service fees. At this point in time, the organization did not yet receive any funding and was able to successfully negotiate the removal these service charges later within the fiscal year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt X
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01104243
IRS990/TotalEmployeeCnt021
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0100689
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01350249
IRS990/TotalFunctionalExpensesGrp/TotalAmt01450938
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalProgramServiceExpensesAmt01350249
IRS990/TotalProgramServiceRevenueAmt0541015
IRS990/TotalReportableCompFromOrgAmt037882
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0541015
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01645258
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt01000 EDDY ST
IRS990/USAddress/CityNm0PROVIDENCE
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002905
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ANGELA HOLT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEAD OF SCHOOL
ReturnHeader/BusinessOfficerGrp/PhoneNum04015339100
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOPE ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0HOPE
ReturnHeader/Filer/EIN0464845929
ReturnHeader/Filer/PhoneNum04015339100
ReturnHeader/Filer/USAddress/AddressLine1Txt01000 EDDY ST
ReturnHeader/Filer/USAddress/CityNm0PROVIDENCE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
ReturnHeader/Filer/USAddress/ZIPCd002905
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B7CB439509BAFF20FD023089775D04074B92C03C
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.97.28.154
ReturnHeader/FilingSecurityInformation/IPDt02017-12-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$1,645,258
Expenses
$1,450,938
Net income
$194,320
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.02$2.81$2.21$6.55$6.41$0.15
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.92$3.86$2.07$6.38$5.74$0.64
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.64$0.17$1.47$5.15$4.96$0.19
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$0.30$1.28$4.61$4.17$0.44
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$0.59$0.84$3.55$3.38$0.17
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.20$0.67$2.99$2.79$0.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.15$0.47$2.23$2.07$0.16
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.65$1.45$0.19
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$1.16$1.18$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.05$0.05$0.01$0.81$0.80$0.01