Civic Intelligence

Foundation Preparatory Charter School

990 • Fiscal year 2018 • EIN 46-4910477

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 14, 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

69th percentile

0.26x

Higher debt load relative to assets than 69% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

48th percentile

0.09x

Higher debt load relative to revenue than 48% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

27th percentile

-5.2%

Higher net margin than 27% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

61st percentile

$84,286

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

30th percentile

-3.3%

Faster asset growth than 30% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

21st percentile

-10%

Faster revenue growth than 21% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets69th percentile

Assets

Down

$581,604

Down $19,839 (-3.3%) from 2017

Net Assets

Down

$429,580

Down $91,074 (-17%) from 2017

Liabilities

Up

$152,024

Up $71,235 (+88%) from 2017

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin27th percentile

Revenue

Down

$1,756,495

Down $200,383 (-10%) from 2017

Expenses

Up

$1,847,569

Up $365,888 (+25%) from 2017

Net Income

Down

-$91,074

Down $566,271 (-119%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth30th 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

2018

Assets$581,604
Liabilities$152,024
Net Assets$429,580
Open 2018 Filing

Operations Trend

Revenue Growth21st 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

2018

Revenue$1,756,495
Expenses$1,847,569
Net Income-$91,074
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 14, 2018
Return Version
2017v2.2
Gross Receipts
$1,756,495
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$517,228$450,342▼ $66,886
Accounts Receivable$69,187$114,004▲ $44,817
Prepaid Expenses and Deferred Charges$2,780$9,300▲ $6,520
Land, Buildings, and Equipment, Net$12,248$7,958▼ $4,290
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$601,443$581,604▼ $19,839
Other Assets Total-$0-
Liabilities
Other Liabilities$75,278$124,056▲ $48,778
Accounts Payable and Accrued Expenses$5,511$27,968▲ $22,457
Total Liabilities$80,789$152,024▲ $71,235
Net Assets / Fund Balance
Unrestricted Net Assets$520,654$384,930▼ $135,724
Temporarily Rstr Net Assets-$44,650-
Total Net Assets Fund Balance$520,654$429,580▼ $91,074
Total Liabilities and Net Assets / Fund Balance$601,443$581,604▼ $19,839

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,958$15,713$23,671
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Myrialis KingSchool LeaderFT$84,286$84,286

Board Members and Trustees

NameTitle
Matthew ShermanPresident
Adrienne CelestinDirector
Dante GreenDirector
Eric JensenDirector
Mark HeckDirector
Nicholas MoranDirector
Peter JonesDirector
Scott ChampagneTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Scholars FirstTransportation201 St Charles Ave, New Orleans, LA 70170$145,090
Chartwells DiningFood ServicePO Box 417632, Boston, MA 02241$100,352
Revenue and Support

Revenue Composition

Contributions and Grants
$415,279
Program Service Revenue
$1,341,216
Investment Income
$0
Other Revenue
$0
All Other Contributions
$118,556
Change in Net Assets
$-91,074

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,756,495
Total Revenue per Audited Statements
$1,756,495
Total Revenue per Form 990
$1,756,495
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,030,894
Other Expenses$816,675
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$685,391$64,729-$750,120
Fees for Services Other$152,326$55,678-$208,004
Other Employee Benefits$115,331$11,063-$126,394
All Other Expenses$94,110$10,752-$104,862
Current Officers, Directors, Trustees, and Key Employees$84,286--$84,286
Payroll Taxes$64,852$5,242-$70,094
Other Expenses$41,906$10,476-$52,382
Fees for Services Management$20,644$30,967-$51,611
Insurance$23,257$5,814-$29,071
Depreciation Depletion$6,312$1,578-$7,890
Occupancy$5,166$1,292-$6,458
Fees for Services Legal$2,240$3,360-$5,600
Travel$2,891--$2,891
Total Functional Expenses$1,627,807$219,762$0$1,847,569

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,847,569
Total Expenses per Audited Statements$1,847,569
Total Expenses per Form 990$1,847,569
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$121,833
Long term debt$2,223
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
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
Scott Champagne
Title
Treasurer
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
La
Voting Board Members
8
Independent Board Members
0
Employees
27

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/Desc2Repairs and Maintenance
IRS990/OtherExpensesGrp/Desc3Utilities
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt018811
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt110476
IRS990/OtherExpensesGrp/ProgramServicesAmt0145090
IRS990/OtherExpensesGrp/ProgramServicesAmt1108759
IRS990/OtherExpensesGrp/ProgramServicesAmt275246
IRS990/OtherExpensesGrp/ProgramServicesAmt341906
IRS990/OtherExpensesGrp/TotalAmt0145090
IRS990/OtherExpensesGrp/TotalAmt1108759
IRS990/OtherExpensesGrp/TotalAmt294057
IRS990/OtherExpensesGrp/TotalAmt352382
IRS990/OtherLiabilitiesGrp/BOYAmt075278
IRS990/OtherLiabilitiesGrp/EOYAmt0124056
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt064729
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0685391
IRS990/OtherSalariesAndWagesGrp/TotalAmt0750120
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05242
IRS990/PayrollTaxesGrp/ProgramServicesAmt064852
IRS990/PayrollTaxesGrp/TotalAmt070094
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02780
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt09300
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Minimum Foundation Progra
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01341216
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01341216
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01000816
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0632378
IRS990/PYProgramServiceRevenueAmt0956062
IRS990/PYRevenuesLessExpensesAmt0475197
IRS990/PYSalariesCompEmpBnftPaidAmt0849303
IRS990/PYTotalExpensesAmt01481681
IRS990/PYTotalRevenueAmt01956878
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-91074
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01341216
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt07958
IRS990ScheduleD/EquipmentGrp/DepreciationAmt015713
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt023671
IRS990ScheduleD/ExpensesSubtotalAmt01847569
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0121833
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12223
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued expenses
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Long term debt
IRS990ScheduleD/RevenueSubtotalAmt01756495
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/TotalBookValueLandBuildingsAmt07958
IRS990ScheduleD/TotalExpensesPerForm990Amt01847569
IRS990ScheduleD/TotalLiabilityAmt0124056
IRS990ScheduleD/TotalRevenuePerForm990Amt01756495
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01756495
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01847569
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/ExplanationTxt0Nondiscriminatory policy is listed on enrollment forms, all brochures and printed media, and on the website.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1DURING FISCAL YEAR 17-18, FOUNDATION PREPARATORY RECEIVED LOCAL, STATE, AND FEDERAL FUNDING UNDER A VARIETY OF PROGRAMS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
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/TemporarilyRstrNetAssetsGrp/EOYAmt044650
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0601443
IRS990/TotalAssetsEOYAmt0581604
IRS990/TotalAssetsGrp/BOYAmt0601443
IRS990/TotalAssetsGrp/EOYAmt0581604
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0415279
IRS990/TotalEmployeeCnt027
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0219762
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01627807

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$581,604
Liabilities
$152,024
Net assets
$429,580
Revenue
$1,756,495
Expenses
$1,847,569
Net income
-$91,074
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
2018Detailed filing. Detailed filing data is available for this year.$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