Civic Intelligence

The Hope Academy

990 • Fiscal year 2019 • EIN 46-4845929

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 12, 2019

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

67th percentile

0.23x

Higher debt load relative to assets than 67% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

45th percentile

0.07x

Higher debt load relative to revenue than 45% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

59th percentile

6.7%

Higher net margin than 59% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

67th percentile

$97,389

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

89th percentile

39%

Faster asset growth than 89% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

83rd percentile

34%

Faster revenue growth than 83% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$872,035

Up $246,852 (+39%) from 2018

Net Assets

Up

$673,628

Up $201,524 (+43%) from 2018

Liabilities

Up

$198,407

Up $45,328 (+30%) from 2018

Revenue

Up

$2,991,310

Up $756,345 (+34%) from 2018

Expenses

Up

$2,789,786

Up $715,859 (+35%) from 2018

Net Income

Up

$201,524

Up $40,486 (+25%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$872,035
Liabilities$198,407
Net Assets$673,628

Operations Trend

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

2019

Revenue$2,991,310
Expenses$2,789,786
Net Income$201,524
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 12, 2019
Return Version
2018v3.1
Gross Receipts
$2,991,310
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 student to meet the challenges of secondary education and to become lifelong learners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$517,670$445,138▼ $72,532
Savings and Temporary Cash Investments-$251,557-
Accounts Receivable$69,845$140,565▲ $70,720
Prepaid Expenses and Deferred Charges$3,668$775▼ $2,893
Total Assets$625,183$872,035▲ $246,852
Other Assets Total$34,000$34,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$153,079$198,407▲ $45,328
Total Liabilities$153,079$198,407▲ $45,328
Net Assets / Fund Balance
Unrestricted Net Assets$470,273$671,797▲ $201,524
Temporarily Rstr Net Assets$1,831$1,831→ $0
Total Net Assets Fund Balance$472,104$673,628▲ $201,524
Total Liabilities and Net Assets / Fund Balance$625,183$872,035▲ $246,852

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$34,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Angela HoltCurrent Head of SchoolFT$97,389$97,389
Tom ConlonBusiness ManagerPT$65,130$65,130
Margaret KnowltonSuperintendentPT$12,077$12,077

Board Members and Trustees

NameTitle
Mayor Charles a LombardiChairperson
Mayor Jorge O ElorzaVice Chairperson
Francisco R RamirezDirector
Mark MarcantanoDirector
Maryelyn AcevedoDirector
Matthew BuchananDirector
Matthew ShumateDirector
Rose Mary GrantDirector
Bianca RodriguezDirector/founder
Michael DeragonElected Parent Member
John KellySecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,034,525
Program Service Revenue
$955,229
Investment Income
$1,556
Other Revenue
$0
All Other Contributions
$12,514
Change in Net Assets
$201,524

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,991,310
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,991,310
Total Revenue per Form 990
$2,991,310
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,670,295
Other Expenses$1,119,491
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,126,224$48,450$0$1,174,674
Occupancy$526,965$24,000$0$550,965
Other Expenses$145,811$110,863$0$256,674
Other Employee Benefits$207,008$14,605$0$221,613
Current Officers, Directors, Trustees, and Key Employees$99,395$75,201$0$174,596
Information Technology$94,708$28,019$0$122,727
Payroll Taxes$90,186$9,226$0$99,412
Office Expenses$47,266$1,696$0$48,962
Insurance$0$12,209$0$12,209
Conferences and Meetings$8,215$0$0$8,215
Total Functional Expenses$2,451,837$337,949$0$2,789,786

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,789,786
Total Expenses per Audited Statements$2,789,786
Total Expenses per Form 990$2,789,786
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
No
Annual disclosure for covered persons
Yes
Audit committee
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
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
2019-11-12
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Ri
Voting Board Members
11
Independent Board Members
11
Employees
49
Volunteers
0

Preparer

Firm
Ppa 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.

Financial Statement Notes

Pt IV, Line 1B

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/OtherExpensesGrp/ManagementAndGeneralAmt013680
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1110863
IRS990/OtherExpensesGrp/ProgramServicesAmt0106059
IRS990/OtherExpensesGrp/ProgramServicesAmt1145811
IRS990/OtherExpensesGrp/TotalAmt0119739
IRS990/OtherExpensesGrp/TotalAmt1256674
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt048450
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01126224
IRS990/OtherSalariesAndWagesGrp/TotalAmt01174674
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt09226
IRS990/PayrollTaxesGrp/ProgramServicesAmt090186
IRS990/PayrollTaxesGrp/TotalAmt099412
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03668
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0775
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0ANGELA HOLT
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/BusinessCd1611110
IRS990/ProgramServiceRevenueGrp/BusinessCd2611110
IRS990/ProgramServiceRevenueGrp/Desc0TUITIONS
IRS990/ProgramServiceRevenueGrp/Desc1FOOD SALES
IRS990/ProgramServiceRevenueGrp/Desc2OTHER REVENUE
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/ExclusionAmt20
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0945401
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt19817
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt211
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProgSrvcAccomActy2Grp/Desc0SCHOOL FOOD SERVICE FUND THE HOPE ACADEMY PROVIDES BREAKFAST & LUNCH FOR ITS STUDENTS. FEES ARE ASSESSED BASED ON INCOME LEVEL. REVENUES ALSO COME FROM FEDERAL PROGRAMS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt078578
IRS990/ProgSrvcAccomActy2Grp/GrantAmt068761
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt09817
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01514281
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt0838140
IRS990/PYProgramServiceRevenueAmt0775618
IRS990/PYRevenuesLessExpensesAmt0215972
IRS990/PYSalariesCompEmpBnftPaidAmt01235787
IRS990/PYTotalExpensesAmt02073927
IRS990/PYTotalRevenueAmt02289899
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0201524
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0946968
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0251557
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/AdditionsDuringYearAmt0759
IRS990ScheduleD/AgentTrusteeEtcInd0true
IRS990ScheduleD/BeginningBalanceAmt011210
IRS990ScheduleD/DistributionsDuringYearAmt00
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/EndingBalanceAmt011969
IRS990ScheduleD/ExpensesSubtotalAmt02789786
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/NetUnrealizedGainsInvstAmt00
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt034000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSITS
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueSubtotalAmt02991310
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 1b
IRS990ScheduleD/TotalBookValueOtherAssetsAmt034000
IRS990ScheduleD/TotalExpensesPerForm990Amt02789786
IRS990ScheduleD/TotalRevenuePerForm990Amt02991310
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02991310
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02789786
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/ExplanationTxt04b - 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/ExplanationTxt1HOPE 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/ExplanationTxt2NO FINANCIAL AID HAS EVER BEEN REVOKED OR SUSPENDED
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 4d
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 3
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/FormAndLineReferenceDesc0Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 11b
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0RI
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01831
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt01831
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0625183
IRS990/TotalAssetsEOYAmt0872035
IRS990/TotalAssetsGrp/BOYAmt0625183
IRS990/TotalAssetsGrp/EOYAmt0872035
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02034525
IRS990/TotalEmployeeCnt049
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0337949
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02451837
IRS990/TotalFunctionalExpensesGrp/TotalAmt02789786
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0153079
IRS990/TotalLiabilitiesEOYAmt0198407
IRS990/TotalLiabilitiesGrp/BOYAmt0153079
IRS990/TotalLiabilitiesGrp/EOYAmt0198407
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0472104
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0673628
IRS990/TotalOtherCompensationAmt00

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