Civic Intelligence

Foundation Preparatory Charter School

990 • Fiscal year 2019 • EIN 46-4910477

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 18, 2019

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

81st percentile

0.48x

Higher debt load relative to assets than 81% of similar nonprofits.

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

Liabilities / Revenue

56th percentile

0.12x

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

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

Net Margin

23rd percentile

-8.1%

Higher net margin than 23% of similar nonprofits.

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

Top Officer Pay

61st percentile

$83,967

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

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

Asset Growth

10th percentile

-12%

Faster asset growth than 10% of similar nonprofits.

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

Revenue Growth

71st percentile

17%

Faster revenue growth than 71% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$510,571

Down $71,033 (-12%) from 2018

Net Assets

Down

$263,521

Down $166,059 (-39%) from 2018

Liabilities

Up

$247,050

Up $95,026 (+63%) from 2018

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin23rd percentile

Revenue

Up

$2,048,283

Up $291,788 (+17%) from 2018

Expenses

Up

$2,214,342

Up $366,773 (+20%) from 2018

Net Income

Down

-$166,059

Down $74,985 (-82%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth10th 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

2019

Assets$510,571
Liabilities$247,050
Net Assets$263,521
Open 2019 Filing

Operations Trend

Revenue Growth71st 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

2019

Revenue$2,048,283
Expenses$2,214,342
Net Income-$166,059
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 18, 2019
Return Version
2018v3.1
Gross Receipts
$2,048,283
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$450,342$406,919▼ $43,423
Accounts Receivable$114,004$88,648▼ $25,356
Prepaid Expenses and Deferred Charges$9,300$12,977▲ $3,677
Land, Buildings, and Equipment, Net$7,958$2,027▼ $5,931
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$581,604$510,571▼ $71,033
Other Assets Total-$0-
Liabilities
Other Liabilities$124,056$217,393▲ $93,337
Accounts Payable and Accrued Expenses$27,968$29,657▲ $1,689
Total Liabilities$152,024$247,050▲ $95,026
Net Assets / Fund Balance
Unrestricted Net Assets$384,930$222,044▼ $162,886
Temporarily Rstr Net Assets$44,650$41,477▼ $3,173
Total Net Assets Fund Balance$429,580$263,521▼ $166,059
Total Liabilities and Net Assets / Fund Balance$581,604$510,571▼ $71,033

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,027$21,644$23,671
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Myrialis KingSchool LeaderFT$83,967$83,967

Board Members and Trustees

NameTitle
Brooke WyattPresident
Daniel WaldmanDirector
Erin RigsbyDirector
Kristyna JonesDirector
Mark HeckDirector
Meghan TurnerDirector
Peter JonesDirector
Adrienne CelestinSecretary
Scott ChampagneTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Scholars FirstTransportation201 St Charles Ave, New Orleans, LA 70170$150,569
LA Department of EducationLEA and Admin Fees1201 North Third St, Baton Rouge, LA 70802$113,014
Revolution FoodsFood Service2438 Augusta St, Kenner, LA 70062$104,513
Revenue and Support

Revenue Composition

Contributions and Grants
$384,969
Program Service Revenue
$1,663,314
Investment Income
$0
Other Revenue
$0
All Other Contributions
$129,398
Change in Net Assets
$-166,059

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,048,283
Total Revenue per Audited Statements
$2,048,283
Total Revenue per Form 990
$2,048,283
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,230,366
Other Expenses$983,976
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$853,768$60,535-$914,303
Fees for Services Other$229,086$142,688-$371,774
Other Employee Benefits$136,654$11,378-$148,032
All Other Expenses$91,443$11,198-$102,641
Payroll Taxes$78,300$5,764-$84,064
Current Officers, Directors, Trustees, and Key Employees$83,967--$83,967
Other Expenses$58,199$14,550-$72,749
Insurance$27,946$6,986-$34,932
Occupancy$12,574$3,143-$15,717
Travel$13,144--$13,144
Depreciation Depletion$4,745$1,186-$5,931
Total Functional Expenses$1,937,060$277,282$0$2,214,342

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,214,342
Total Expenses per Audited Statements$2,214,342
Total Expenses per Form 990$2,214,342
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$217,392
Rounding$1
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
2019-11-18
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
La
Voting Board Members
9
Independent Board Members
0
Employees
29

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/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt03143
IRS990/OccupancyGrp/ProgramServicesAmt012574
IRS990/OccupancyGrp/TotalAmt015717
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt011378
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0136654
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0148032
IRS990/OtherExpensesGrp/Desc0Transportation
IRS990/OtherExpensesGrp/Desc1Food service
IRS990/OtherExpensesGrp/Desc2Utilities
IRS990/OtherExpensesGrp/Desc3Repairs and Maintenance
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt019854
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt114550
IRS990/OtherExpensesGrp/ProgramServicesAmt0150569
IRS990/OtherExpensesGrp/ProgramServicesAmt1117251
IRS990/OtherExpensesGrp/ProgramServicesAmt279414
IRS990/OtherExpensesGrp/ProgramServicesAmt358199
IRS990/OtherExpensesGrp/TotalAmt0150569
IRS990/OtherExpensesGrp/TotalAmt1117251
IRS990/OtherExpensesGrp/TotalAmt299268
IRS990/OtherExpensesGrp/TotalAmt372749
IRS990/OtherLiabilitiesGrp/BOYAmt0124056
IRS990/OtherLiabilitiesGrp/EOYAmt0217393
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt060535
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0853768
IRS990/OtherSalariesAndWagesGrp/TotalAmt0914303
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05764
IRS990/PayrollTaxesGrp/ProgramServicesAmt078300
IRS990/PayrollTaxesGrp/TotalAmt084064
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt09300
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt012977
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Minimum Foundation Progra
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01663314
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01663314
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0415279
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0816675
IRS990/PYProgramServiceRevenueAmt01341216
IRS990/PYRevenuesLessExpensesAmt0-91074
IRS990/PYSalariesCompEmpBnftPaidAmt01030894
IRS990/PYTotalExpensesAmt01847569
IRS990/PYTotalRevenueAmt01756495
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-166059
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01663314
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/BookValueAmt02027
IRS990ScheduleD/EquipmentGrp/DepreciationAmt021644
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt023671
IRS990ScheduleD/ExpensesSubtotalAmt02214342
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0217392
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued expenses
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Rounding
IRS990ScheduleD/RevenueSubtotalAmt02048283
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/TotalBookValueLandBuildingsAmt02027
IRS990ScheduleD/TotalExpensesPerForm990Amt02214342
IRS990ScheduleD/TotalLiabilityAmt0217393
IRS990ScheduleD/TotalRevenuePerForm990Amt02048283
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02048283
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02214342
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

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$510,571
Liabilities
$247,050
Net assets
$263,521
Revenue
$2,048,283
Expenses
$2,214,342
Net income
-$166,059
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
2019Detailed filing. Detailed filing data is available for this year.$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