Civic Intelligence

Foundation Preparatory Charter School

990 • Fiscal year 2020 • EIN 46-4910477

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 18, 2020

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

64th percentile

0.21x

Higher debt load relative to assets than 64% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

35th percentile

0.06x

Higher debt load relative to revenue than 35% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

67th percentile

15%

Higher net margin than 67% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$63,215

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

94th percentile

128%

Faster asset growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

93rd percentile

114%

Faster revenue growth than 93% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$1,164,762

Up $654,191 (+128%) from 2019

Net Assets

Up

$915,987

Up $652,466 (+248%) from 2019

Liabilities

Up

$248,775

Up $1,725 (+0.7%) from 2019

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin67th percentile

Revenue

Up

$4,373,116

Up $2,324,833 (+114%) from 2019

Expenses

Up

$3,720,650

Up $1,506,308 (+68%) from 2019

Net Income

Up

$652,466

Up $818,525 (+493%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth94th 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

2020

Assets$1,164,762
Liabilities$248,775
Net Assets$915,987
Open 2020 Filing

Operations Trend

Revenue Growth93rd 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

2020

Revenue$4,373,116
Expenses$3,720,650
Net Income$652,466
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 18, 2020
Return Version
2019v5.0
Gross Receipts
$4,373,116
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$406,919$652,325▲ $245,406
Accounts Receivable$88,648$512,437▲ $423,789
Prepaid Expenses and Deferred Charges$12,977$0▼ $12,977
Land, Buildings, and Equipment, Net$2,027$0▼ $2,027
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$510,571$1,164,762▲ $654,191
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$29,657$248,775▲ $219,118
Other Liabilities$217,393--
Total Liabilities$247,050$248,775▲ $1,725
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$222,044$894,654▲ $672,610
Net Assets With Donor Restrictions$41,477$21,333▼ $20,144
Total Net Assets Fund Balance$263,521$915,987▲ $652,466
Total Liabilities and Net Assets / Fund Balance$510,571$1,164,762▲ $654,191

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$23,671$23,671
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Myrialis KingSchool LeaderFT$63,215$63,215

Board Members and Trustees

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

Highest Paid Contractors

ContractorServicesLocationCompensation
WR Transport LLCTransportation824 Kathy St, Gretna, LA 70056$257,575
Revolution FoodsFood Service2438 Augusta St, Kenner, LA 70062$186,341
LA Department of EducationLEA and Admin Fees1201 North Third St, Baton Rouge, LA 70802$172,518
Revenue and Support

Revenue Composition

Contributions and Grants
$1,603,977
Program Service Revenue
$2,769,139
Investment Income
$0
Other Revenue
$0
All Other Contributions
$617,870
Change in Net Assets
$652,466

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,373,116
Total Revenue per Audited Statements
$4,373,116
Total Revenue per Form 990
$4,373,116
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,058,362
Other Expenses$1,262,288
Grants and Similar Amounts Paid$400,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,537,002$77,803-$1,614,805
Fees for Services Other$208,950$197,824-$406,774
Grants to Domestic Orgs$400,000--$400,000
Other Employee Benefits$211,499$22,181-$233,680
Payroll Taxes$128,948$17,714-$146,662
Other Expenses$96,527$24,132-$120,659
All Other Expenses$51,032$13,512-$64,544
Current Officers, Directors, Trustees, and Key Employees$63,215--$63,215
Insurance$38,802$9,700-$48,502
Depreciation Depletion$1,621$405-$2,026
Travel$1,228--$1,228
Total Functional Expenses$3,327,055$393,595$0$3,720,650

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,720,650
Total Expenses per Audited Statements$3,720,650
Total Expenses per Form 990$3,720,650
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Community Academies of NONew Orleans, LA-Creating a new charter alliance$400,000
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Brooke Wyatt
Title
President
Signed
2020-11-18
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
La
Voting Board Members
9
Independent Board Members
0
Employees
55

Preparer

Firm
Daigrepont & Brian APAC
Address
910 S Acadian Thruway, Baton Rouge, LA 70806
Preparer
John M Goodwin 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/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt022181
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0211499
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0233680
IRS990/OtherExpensesGrp/Desc0Transportation
IRS990/OtherExpensesGrp/Desc1Food service
IRS990/OtherExpensesGrp/Desc2Repairs and Maintenance
IRS990/OtherExpensesGrp/Desc3Utilities
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt030324
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt124132
IRS990/OtherExpensesGrp/ProgramServicesAmt0257575
IRS990/OtherExpensesGrp/ProgramServicesAmt1209359
IRS990/OtherExpensesGrp/ProgramServicesAmt2121297
IRS990/OtherExpensesGrp/ProgramServicesAmt396527
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IRS990/OtherExpensesGrp/TotalAmt1209359
IRS990/OtherExpensesGrp/TotalAmt2151621
IRS990/OtherExpensesGrp/TotalAmt3120659
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IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt077803
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01537002
IRS990/OtherSalariesAndWagesGrp/TotalAmt01614805
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt017714
IRS990/PayrollTaxesGrp/ProgramServicesAmt0128948
IRS990/PayrollTaxesGrp/TotalAmt0146662
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Minimum Foundation Progra
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02769139
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02769139
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0384969
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0983976
IRS990/PYProgramServiceRevenueAmt01663314
IRS990/PYRevenuesLessExpensesAmt0-166059
IRS990/PYSalariesCompEmpBnftPaidAmt01230366
IRS990/PYTotalExpensesAmt02214342
IRS990/PYTotalRevenueAmt02048283
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0652466
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02769139
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
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt023671
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt023671
IRS990ScheduleD/ExpensesSubtotalAmt03720650
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt04373116
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/TotalExpensesPerForm990Amt03720650
IRS990ScheduleD/TotalRevenuePerForm990Amt04373116
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04373116
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03720650
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
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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
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0400000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Creating a new charter alliance
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Community Academies of NO
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03121 St Bernard Ave
IRS990ScheduleI/RecipientTable/USAddress/CityNm0New Orleans
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0LA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd070119
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0Cash
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IRS990ScheduleI/TotalOtherOrgCnt01
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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
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,164,762
Liabilities
$248,775
Net assets
$915,987
Revenue
$4,373,116
Expenses
$3,720,650
Net income
$652,466
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$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