Civic Intelligence

Foundation Preparatory Charter School

990 • Fiscal year 2016 • EIN 46-4910477

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

Organization Profilewww.foundationpreparatory.org

View Organization Page

7301 Dwyer RoadNew Orleans, LA 70129

(504) 434-0521

Siviq Scores

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

Liabilities / Assets

86th percentile

0.60x

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

61st percentile

0.08x

Higher debt load relative to revenue than 61% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

18th percentile

-14%

Higher net margin than 18% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

86th percentile

$91,558

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

3rd percentile

-50%

Faster asset growth than 3% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

99th percentile

448%

Faster revenue growth than 99% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$114,955

Down $113,949 (-50%) from 2015

Net Assets

Up

$45,457

Up $58,182 (+457%) from 2015

Liabilities

Down

$69,498

Down $172,131 (-71%) from 2015

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin18th percentile

Revenue

Up

$874,716

Up $714,960 (+448%) from 2015

Expenses

Up

$996,079

Up $823,598 (+478%) from 2015

Net Income

Down

-$121,363

Down $108,638 (-854%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2015: $228,904Liabilities 2015: $241,629Net Assets 2015: -$12,7252015Assets 2016: $114,955Liabilities 2016: $69,498Net Assets 2016: $45,4572016Assets 2017: $601,443Liabilities 2017: $80,789Net Assets 2017: $520,6542017Assets 2018: $581,604Liabilities 2018: $152,024Net Assets 2018: $429,5802018Assets 2019: $510,571Liabilities 2019: $247,050Net Assets 2019: $263,5212019Assets 2020: $1,164,762Liabilities 2020: $248,775Net Assets 2020: $915,9872020

Highlighted filing

2016

Assets$114,955
Liabilities$69,498
Net Assets$45,457
Open 2016 Filing

Operations Trend

Revenue Growth99th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $159,756Expenses 2015: $172,481Net Income 2015: -$12,7252015Revenue 2016: $874,716Expenses 2016: $996,079Net Income 2016: -$121,3632016Revenue 2017: $1,956,878Expenses 2017: $1,481,681Net Income 2017: $475,1972017Revenue 2018: $1,756,495Expenses 2018: $1,847,569Net Income 2018: -$91,0742018Revenue 2019: $2,048,283Expenses 2019: $2,214,342Net Income 2019: -$166,0592019Revenue 2020: $4,373,116Expenses 2020: $3,720,650Net Income 2020: $652,4662020

Highlighted filing

2016

Revenue$874,716
Expenses$996,079
Net Income-$121,363
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 15, 2016
Return Version
2015v2.0
Gross Receipts
$894,411
Mission and Program Overview

Mission

To provide an excellent, equitable education to all students, regardless of demographic profile or previous academic history.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$193,200$67,681▼ $125,519
Accounts Receivable-$29,974-
Prepaid Expenses and Deferred Charges-$10,439-
Land, Buildings, and Equipment, Net$19,695$6,861▼ $12,834
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$228,904$114,955▼ $113,949
Other Assets Total$16,009$0▼ $16,009
Liabilities
Deferred Revenue$179,545--
Other Liabilities$32,926$50,881▲ $17,955
Accounts Payable and Accrued Expenses$29,158$18,617▼ $10,541
Total Liabilities$241,629$69,498▼ $172,131
Net Assets / Fund Balance
Unrestricted Net Assets$-12,725$45,457▲ $58,182
Total Net Assets Fund Balance$-12,725$45,457▲ $58,182
Total Liabilities and Net Assets / Fund Balance$228,904$114,955▼ $113,949

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,861$1,960$8,821
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Myrialis KingSchool LeaderFT$91,558$91,558

Board Members and Trustees

NameTitle
Matthew ShermanPresident
Amy VanderhooftDirector
Barkley RaffertyDirector
Dante GreenDirector
Eric JensenDirector
Erin LuetkemeierDirector
Mark HeckDirector
Shannon CianDirector
Nicholas MoranSecretary
Scott ChampagneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$512,719
Program Service Revenue
$361,997
Investment Income
$0
Other Revenue
$0
All Other Contributions
$418,031
Change in Net Assets
$-121,363

Audited Revenue Reconciliation

Revenue per Audited Statements
$874,716
Total Revenue per Audited Statements
$874,716
Total Revenue per Form 990
$874,716
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$498,379
Other Expenses$497,700
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$295,211$25,841-$321,052
Fees for Services Other$73,855$47,686-$121,541
Current Officers, Directors, Trustees, and Key Employees$91,558--$91,558
All Other Expenses$64,029$14,585-$78,614
Other Employee Benefits$39,699$6,722-$46,421
Payroll Taxes$35,427$3,921-$39,348
Occupancy$27,882$6,970-$34,852
Other Expenses$33,924$23,982-$33,924
Insurance$13,681$3,420-$17,101
Travel$5,962--$5,962
Depreciation Depletion$1,568$392-$1,960
Total Functional Expenses$862,560$133,519$0$996,079

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$996,079
Total Expenses per Audited Statements$996,079
Total Expenses per Form 990$996,079
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long term debt$26,666
Accrued expenses$24,215
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
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, Line 11B: Form 990 Review Process

“The president and secretary/treasurer are presented with a copy of the filing for review. The 990 is made available to the board members upon request.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Foundation Preparatory Charter School
EIN
46-4910477
Phone
5044340521
Address
7301 Dwyer Road, New Orleans, LA 70129

Signing Officer

Name
Myrialis King
Title
School Leader
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
La
Voting Board Members
10
Independent Board Members
0
Employees
12

Preparer

Firm
Daigrepont & Brian APAC
Address
910 S Acadian Thruway, Baton Rouge, LA 70806
Preparer
Michael B Loveless CPA
Phone
2259273760
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The School accounts for income taxes in accordance with FASB ASC 740-10, Accounting for Uncertainty in Income Taxes. Management believes it has no material uncertain tax positions and, accordingly, has not recognized a liability for any unrecognized tax benefits.”

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IRS990/OtherExpensesGrp/TotalAmt237168
IRS990/OtherExpensesGrp/TotalAmt333924
IRS990/OtherLiabilitiesGrp/BOYAmt032926
IRS990/OtherLiabilitiesGrp/EOYAmt050881
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt025841
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0295211
IRS990/OtherSalariesAndWagesGrp/TotalAmt0321052
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03921
IRS990/PayrollTaxesGrp/ProgramServicesAmt035427
IRS990/PayrollTaxesGrp/TotalAmt039348
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010439
IRS990/PriorPeriodAdjustmentsAmt0179545
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Minimum Foundation Progra
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0361997
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0361997
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0159756
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt085013
IRS990/PYRevenuesLessExpensesAmt0-12725
IRS990/PYSalariesCompEmpBnftPaidAmt087468
IRS990/PYTotalExpensesAmt0172481
IRS990/PYTotalRevenueAmt0159756
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-121363
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0361997
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt06861
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01960
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08821
IRS990ScheduleD/ExpensesSubtotalAmt0996079
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt024215
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt126666
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued expenses
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Long term debt
IRS990ScheduleD/RevenueSubtotalAmt0874716
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School accounts for income taxes in accordance with FASB ASC 740-10, Accounting for Uncertainty in Income Taxes. Management believes it has no material uncertain tax positions and, accordingly, has not recognized a liability for any unrecognized tax benefits.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06861
IRS990ScheduleD/TotalExpensesPerForm990Amt0996079
IRS990ScheduleD/TotalLiabilityAmt050881
IRS990ScheduleD/TotalRevenuePerForm990Amt0874716
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0874716
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0996079
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0DURING FISCAL YEAR 15-16, FOUNDATION PREPARATORY RECEIVED LOCAL, STATE, AND FEDERAL FUNDING UNDER A VARIETY OF PROGRAMS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Nondiscriminatory policy is listed on enrollment forms, all brochures and printed media, and on the website.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT AND SECRETARY/TREASURER ARE PRESENTED WITH A COPY OF THE FILING FOR REVIEW. THE 990 IS MADE AVAILABLE TO THE BOARD MEMBERS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0228904
IRS990/TotalAssetsEOYAmt0114955
IRS990/TotalAssetsGrp/BOYAmt0228904
IRS990/TotalAssetsGrp/EOYAmt0114955
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0512719

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
$114,955
Liabilities
$69,498
Net assets
$45,457
Revenue
$874,716
Expenses
$996,079
Net income
-$121,363
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.16$0.25$0.92$4.37$3.72$0.65
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.51$0.25$0.26$2.05$2.21$0.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.58$0.15$0.43$1.76$1.85$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.60$0.08$0.52$1.96$1.48$0.48
2016Detailed filing. Detailed filing data is available for this year.$0.11$0.07$0.05$0.87$1.00$0.12
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.23$0.24$0.01$0.16$0.17$0.01