Civic Intelligence

Foundation Preparatory Charter School

990 • Fiscal year 2017 • EIN 46-4910477

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 12, 2018

Organization Profilewww.foundationpreparatory.org

View Organization Page

7301 Dwyer RoadNew Orleans, LA 70126

(504) 434-0521

Siviq Scores

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

Liabilities / Assets

56th percentile

0.13x

Higher debt load relative to assets than 56% of similar nonprofits.

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

Liabilities / Revenue

34th percentile

0.04x

Higher debt load relative to revenue than 34% of similar nonprofits.

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

Net Margin

81st percentile

24%

Higher net margin than 81% of similar nonprofits.

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

Top Officer Pay

61st percentile

$84,472

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

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

Asset Growth

99th percentile

423%

Faster asset growth than 99% of similar nonprofits.

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

Revenue Growth

94th percentile

124%

Faster revenue growth than 94% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$601,443

Up $486,488 (+423%) from 2016

Net Assets

Up

$520,654

Up $475,197 (+1045%) from 2016

Liabilities

Up

$80,789

Up $11,291 (+16%) from 2016

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin81st percentile

Revenue

Up

$1,956,878

Up $1,082,162 (+124%) from 2016

Expenses

Up

$1,481,681

Up $485,602 (+49%) from 2016

Net Income

Up

$475,197

Up $596,560 (+492%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth99th 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

2017

Assets$601,443
Liabilities$80,789
Net Assets$520,654
Open 2017 Filing

Operations Trend

Revenue Growth94th 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

2017

Revenue$1,956,878
Expenses$1,481,681
Net Income$475,197
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 12, 2018
Return Version
2016v3.0
Gross Receipts
$1,956,878
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$67,681$517,228▲ $449,547
Accounts Receivable$29,974$69,187▲ $39,213
Land, Buildings, and Equipment, Net$6,861$12,248▲ $5,387
Prepaid Expenses and Deferred Charges$10,439$2,780▼ $7,659
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$114,955$601,443▲ $486,488
Other Assets Total-$0-
Liabilities
Other Liabilities$50,881$75,278▲ $24,397
Accounts Payable and Accrued Expenses$18,617$5,511▼ $13,106
Total Liabilities$69,498$80,789▲ $11,291
Net Assets / Fund Balance
Unrestricted Net Assets$45,457$520,654▲ $475,197
Total Net Assets Fund Balance$45,457$520,654▲ $475,197
Total Liabilities and Net Assets / Fund Balance$114,955$601,443▲ $486,488

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,248$7,823$20,071
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Myrialis KingSchool LeaderFT$84,472$84,472

Board Members and Trustees

NameTitle
Matthew ShermanPresident
Daniel WaldmanDirector
Dante GreenDirector
Eric JensenDirector
Justin Van AlstyneDirector
Mark HeckDirector
Nicholas MoranSecretary
Scott ChampagneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,000,816
Program Service Revenue
$956,062
Investment Income
$0
Other Revenue
$0
All Other Contributions
$853,736
Change in Net Assets
$475,197

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,956,878
Total Revenue per Audited Statements
$1,956,878
Total Revenue per Form 990
$1,956,878
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$849,303
Other Expenses$632,378
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$580,067$31,501-$611,568
Fees for Services Other$143,743$54,234-$197,977
All Other Expenses$90,495$11,808-$102,303
Other Employee Benefits$81,225$10,369-$91,594
Current Officers, Directors, Trustees, and Key Employees$84,472--$84,472
Payroll Taxes$57,688$3,981-$61,669
Other Expenses$41,635$10,409-$52,044
Insurance$17,686$4,421-$22,107
Depreciation Depletion$4,690$1,173-$5,863
Travel$3,599--$3,599
Occupancy$2,260$565-$2,825
Total Functional Expenses$1,339,294$142,387$0$1,481,681

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,481,681
Total Expenses per Audited Statements$1,481,681
Total Expenses per Form 990$1,481,681
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
Accrued expenses$61,945
Long term debt$13,333
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 70126

Signing Officer

Name
Myrialis King
Title
School Leader
Signed
2018-03-12
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
La
Voting Board Members
8
Independent Board Members
0
Employees
21

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/ProgramServiceRevenueGrp/Desc0Minimum Foundation Progra
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0956062
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0956062
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IRS990/PYContributionsGrantsAmt0512719
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0497700
IRS990/PYProgramServiceRevenueAmt0361997
IRS990/PYRevenuesLessExpensesAmt0-121363
IRS990/PYSalariesCompEmpBnftPaidAmt0498379
IRS990/PYTotalExpensesAmt0996079
IRS990/PYTotalRevenueAmt0874716
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0475197
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0956062
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
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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/BookValueAmt012248
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07823
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt020071
IRS990ScheduleD/ExpensesSubtotalAmt01481681
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt061945
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt113333
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued expenses
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Long term debt
IRS990ScheduleD/RevenueSubtotalAmt01956878
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/TotalBookValueLandBuildingsAmt012248
IRS990ScheduleD/TotalExpensesPerForm990Amt01481681
IRS990ScheduleD/TotalLiabilityAmt075278
IRS990ScheduleD/TotalRevenuePerForm990Amt01956878
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01956878
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01481681
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 16-17, 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
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IRS990/TotalAssetsEOYAmt0601443
IRS990/TotalAssetsGrp/BOYAmt0114955
IRS990/TotalAssetsGrp/EOYAmt0601443
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01000816
IRS990/TotalEmployeeCnt021
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0142387
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01339294
IRS990/TotalFunctionalExpensesGrp/TotalAmt01481681
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt069498
IRS990/TotalLiabilitiesEOYAmt080789
IRS990/TotalLiabilitiesGrp/BOYAmt069498
IRS990/TotalLiabilitiesGrp/EOYAmt080789
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt045457
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0520654
IRS990/TotalProgramServiceExpensesAmt01339294
IRS990/TotalProgramServiceRevenueAmt0956062
IRS990/TotalReportableCompFromOrgAmt084472

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$601,443
Liabilities
$80,789
Net assets
$520,654
Revenue
$1,956,878
Expenses
$1,481,681
Net income
$475,197
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
2017Detailed filing. Detailed filing data is available for this year.$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