Civic Intelligence

Innovative Arts Academy Charter School Incorporated

990 • Fiscal year 2017 • EIN 47-5567287

Jul 01, 2016 to Jun 30, 2017 • Filed on May 11, 2018

Organization Profilewww.iaacslv.net
1177 6th StreetWhitehall, PA 18052

(610) 403-2787

Siviq Scores

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

Liabilities / Assets

95th percentile

1.32x

Higher debt load relative to assets than 95% of similar nonprofits.

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

Liabilities / Revenue

63rd percentile

0.20x

Higher debt load relative to revenue than 63% of similar nonprofits.

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

Net Margin

27th percentile

-4.8%

Higher net margin than 27% of similar nonprofits.

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

Top Officer Pay

42nd percentile

$40,000

Higher top officer pay than 42% of similar nonprofits.

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

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

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Balance Sheet
Liabilities / Assets95th percentile

Assets

$439,502

No earlier filing loaded for comparison.

Net Assets

-$141,586

No earlier filing loaded for comparison.

Liabilities

$581,088

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin27th percentile

Revenue

$2,935,591

No earlier filing loaded for comparison.

Expenses

$3,077,177

No earlier filing loaded for comparison.

Net Income

-$141,586

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$20M$10M$0-$10MAssets 2017: $439,502Liabilities 2017: $581,088Net Assets 2017: -$141,5862017Assets 2018: $1,291,299Liabilities 2018: $474,481Net Assets 2018: $816,8182018Assets 2019: $2,418,888Liabilities 2019: $659,202Net Assets 2019: $1,759,6862019Assets 2020: $3,426,431Liabilities 2020: $561,344Net Assets 2020: $2,865,0872020Assets 2021: $4,716,894Liabilities 2021: $579,571Net Assets 2021: $4,137,3232021Assets 2022: $19,753,415Liabilities 2022: $17,198,198Net Assets 2022: $2,555,2172022Assets 2023: $19,995,952Liabilities 2023: $16,845,981Net Assets 2023: $3,149,9712023

Highlighted filing

2017

Assets$439,502
Liabilities$581,088
Net Assets-$141,586
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0-$5.0MRevenue 2017: $2,935,591Expenses 2017: $3,077,177Net Income 2017: -$141,5862017Revenue 2018: $5,301,076Expenses 2018: $4,342,672Net Income 2018: $958,4042018Revenue 2019: $7,811,127Expenses 2019: $6,868,259Net Income 2019: $942,8682019Revenue 2020: $7,742,659Expenses 2020: $6,637,258Net Income 2020: $1,105,4012020Revenue 2021: $8,334,519Expenses 2021: $7,062,283Net Income 2021: $1,272,2362021Revenue 2022: $9,401,988Expenses 2022: $8,260,138Net Income 2022: $1,141,8502022Revenue 2023: $9,589,274Expenses 2023: $9,039,520Net Income 2023: $549,7542023

Highlighted filing

2017

Revenue$2,935,591
Expenses$3,077,177
Net Income-$141,586
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 11, 2018
Return Version
2016v3.0
Gross Receipts
$2,935,591
Mission and Program Overview

Mission

Innovative Arts Academy Charter

Innovative Arts Academy Charter School believes that the arts encourage the kind of creative and critical thinking that allows children to succeed in other academic work. The vision of the school is focused on creating a meaningful and rewarding secondary education for students in grades 6 through 12 that will prepare graduates for their future careers and further education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$229,996-
Prepaid Expenses and Deferred Charges-$124,736-
Land, Buildings, and Equipment, Net-$63,995-
Cash and Non-Interest-Bearing Accounts-$20,775-
Total Assets$0$439,502▲ $439,502
Liabilities
Accounts Payable and Accrued Expenses-$481,088-
Mortgage Notes Payable Secured by Investment Property-$100,000-
Total Liabilities$0$581,088▲ $581,088
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$124,736-
Unrestricted Net Assets-$-266,322-
Total Net Assets Fund Balance$0$-141,586▼ $141,586
Total Liabilities and Net Assets / Fund Balance$0$439,502▲ $439,502

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$37,062$6,094$43,156
Leasehold Improvements$26,933-$26,933
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Stephen GabrylukCEOFT$40,000$40,000
Stephen Gabryluk--$40,000$40,000

Board Members and Trustees

NameTitle
Kelly BauerPresident
David RankBoard Trustee
Deborah LoprestiBoard Trustee
Mark ProstkoBoard Trustee
Douglas TaylorPrincipal
Danny YoussefTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Singularis IT LLCInformation Technology Services848 N Tacoma St, Allentown, PA 18109$102,399
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,935,591
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-141,586

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,935,591
Total Revenue per Audited Statements
$2,935,591
Total Revenue per Form 990
$2,935,591
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,941,823
Other Expenses$1,135,354
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,065,093$356,204$0$1,421,297
Occupancy$0$330,000$0$330,000
Other Employee Benefits$229,173$47,031$0$276,204
All Other Expenses$18,402$179,855$0$198,257
Fees for Services Other$56,052$137,071$0$193,123
Payroll Taxes$100,712$37,965$0$138,677
Fees for Services Legal$0$79,759$0$79,759
Other Expenses$78,628$0$0$78,628
Fees for Services Accounting$0$73,247$0$73,247
Pension Plan Contributions$51,028$14,617$0$65,645
Insurance$0$43,996$0$43,996
Current Officers, Directors, Trustees, and Key Employees$0$40,000$0$40,000
Advertising$0$30,561$0$30,561
Information Technology$0$25,528$0$25,528
Depreciation Depletion$4,871$1,223$0$6,094
Office Expenses$0$2,045$0$2,045
Travel$0$1,440$0$1,440
Interest$0$1,378$0$1,378
Total Functional Expenses$1,634,579$1,442,598$0$3,077,177

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,077,177
Total Expenses per Audited Statements$3,077,177
Total Expenses per Form 990$3,077,177
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Innovative Arts Academy Charter School
EIN
47-5567287
Phone
6104032787
Address
1177 6th Street, Whitehall, PA 18052

Signing Officer

Name
Danny Youssef
Title
Treasurer
Phone
6104032787
Signed
2018-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Danny Youssef
Formed
2016
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
5
Employees
53
Volunteers
5

Preparer

Firm
Repice & Taylor Inc
Address
2901 S 15TH ST, PHILADELPHIA, PA 19145-4916
Preparer
Anthony Repicecpa
Phone
2157557603
Supplemental Narrative

Additional Explanations

Pt VI, Line 3

“Business management duties are performed by Repice & Taylor, Inc.”

Pt VI, Line 11B

“Its is the policy of the school to provide the 990 to the full board of trustees prior to submission of the form to the IRS”

Pt VI, Line 12C

“Statement of financial interests are forwarded to PA State Ethics Commission on Form SEC-1”

Pt VI, Line 15A

“All compensation is reviewed and approved by the Board of Trustees”

Pt VI, Line 15B

“All compensation is reviewed and approved by the Board of Trustees”

Pt VI, Line 18

“Documents are available upon request”

Pt VI, Line 19

“Documents are available upon request”

Pt XII, Line 2C

“The Process for assuming responsibility for oversight of the audit of the organizations financial statements and selection of an Independent Accountant by those charged with Governance has not changed due tot he fact this is the first year of the school”

Form 990, Part IX, Line 24E

“Dues & Fees 14267. 0. 14267. 0.”

Form 990, Part IX, Line 24E

“Utilities 73129. 0. 73129. 0.”

Form 990, Part IX, Line 24E

“Maintenance & Repairs 42883. 0. 42883. 0.”

Form 990, Part IX, Line 24E

“Equipment Rentals 33475. 0. 33475. 0.”

Form 990, Part IX, Line 24E

“Telephone / Internet 3626. 0. 3626. 0.”

Form 990, Part IX, Line 24E

“Miscellaneous 12475. 0. 12475. 0.”

Form 990, Part IX, Line 24E

“Student Activities 11037. 11037. 0. 0.”

Form 990, Part IX, Line 24E

“Food Service Costs 7365. 7365. 0. 0.”

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IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/Desc0Local Revenue
IRS990/ProgramServiceRevenueGrp/Desc1State Revenue
IRS990/ProgramServiceRevenueGrp/Desc2Federal Revenue
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02734954
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt123444
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2177193
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-141586
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02935789
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt037062
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06094
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt043156
IRS990ScheduleD/ExpensesSubtotalAmt03077177
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt026933
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt026933
IRS990ScheduleD/RevenueSubtotalAmt02935591
IRS990ScheduleD/TotalBookValueLandBuildingsAmt063995
IRS990ScheduleD/TotalExpensesPerForm990Amt03077177
IRS990ScheduleD/TotalRevenuePerForm990Amt02935591
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02935591
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03077177
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/ExplanationTxt0CHARTER SCHOOL LAW PROHIBTS DISCRIMINATION
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVED FEDERAL AWARDS, STATE EXPENSE REIMBURSEMENTS, AND PER PUPIL FUNDING FROM LOCAL SCHOOL DISTRICTS IN THE LEHIGH VALLEY
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt040000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEPHEN GABRYLUK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt040000
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Business management duties are performed by Repice & Taylor, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Its is the policy of the school to provide the 990 to the full board of trustees prior to submission of the form to the IRS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Statement of financial interests are forwarded to PA State Ethics Commission on Form SEC-1
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All compensation is reviewed and approved by the Board of Trustees
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All compensation is reviewed and approved by the Board of Trustees
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Documents are available upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Documents are available upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The Process for assuming responsibility for oversight of the audit of the organizations financial statements and selection of an Independent Accountant by those charged with Governance has not changed due tot he fact this is the first year of the school
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Dues & Fees 14267. 0. 14267. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Utilities 73129. 0. 73129. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Maintenance & Repairs 42883. 0. 42883. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Equipment Rentals 33475. 0. 33475. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12Telephone / Internet 3626. 0. 3626. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13Miscellaneous 12475. 0. 12475. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14Student Activities 11037. 11037. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15Food Service Costs 7365. 7365. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Pt XII, Line 2c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc15Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0124736
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt0439502
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0439502
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt053
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01442598
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01634579
IRS990/TotalFunctionalExpensesGrp/TotalAmt03077177
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0581088
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0581088
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-141586
IRS990/TotalProgramServiceExpensesAmt01634579
IRS990/TotalProgramServiceRevenueAmt02935591
IRS990/TotalReportableCompFromOrgAmt040000

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$439,502
Liabilities
$581,088
Net assets
-$141,586
Revenue
$2,935,591
Expenses
$3,077,177
Net income
-$141,586
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$20.0$16.8$3.15$9.59$9.04$0.55
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.8$17.2$2.56$9.40$8.26$1.14
2021Summary only. Only limited summary data is available for this year.$4.72$0.58$4.14$8.33$7.06$1.27
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.43$0.56$2.87$7.74$6.64$1.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.42$0.66$1.76$7.81$6.87$0.94
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.29$0.47$0.82$5.30$4.34$0.96
2017Detailed filing. Detailed filing data is available for this year.$0.44$0.58$0.14$2.94$3.08$0.14