Civic Intelligence

Chesapeake Academy Foundation

990 • Fiscal year 2014 • EIN 52-1203663

Jun 01, 2013 to May 31, 2014 • Filed on Nov 12, 2014

Organization ProfileWWW.CHESAPEAKEACADEMY.ORG

View Organization Page

PO Box 822480

(804) 438-5575

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2014

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

1st percentile

-3968%

Higher net margin than 1% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

46th percentile

-0.6%

Faster revenue growth than 46% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $786,474 (-100%) from 2013

Net Assets

Down

$0

Down $786,474 (-100%) from 2013

Liabilities

Flat

$0

Flat from 2013

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin1st percentile

Revenue

Down

$22,857

Down $145 (-0.6%) from 2013

Expenses

Up

$929,897

Up $866,791 (+1374%) from 2013

Net Income

Down

-$907,040

Down $866,936 (-2162%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$1.0M$500K$0Assets 2011: $801,355Liabilities 2011: $0Net Assets 2011: $801,3552011Assets 2012: $752,935Liabilities 2012: $0Net Assets 2012: $752,9352012Assets 2013: $786,474Liabilities 2013: $0Net Assets 2013: $786,4742013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2014

Assets$0
Liabilities$0
Net Assets$0
Open 2014 Filing

Operations Trend

Revenue Growth46th percentile

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

$1.0M$500K$0-$500K-$1.0MExpenses 2011: $56,7542011Expenses 2012: $45,4742012Revenue 2013: $23,002Expenses 2013: $63,106Net Income 2013: -$40,1042013Revenue 2014: $22,857Expenses 2014: $929,897Net Income 2014: -$907,0402014

Highlighted filing

2014

Revenue$22,857
Expenses$929,897
Net Income-$907,040
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2013 to May 31, 2014
Signed
Nov 12, 2014
Return Version
2013v3.0
Gross Receipts
$22,857
Mission and Program Overview

Mission

To support chesapeake academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$785,368$0▼ $785,368
Cash and Non-Interest-Bearing Accounts$1,106$0▼ $1,106
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$786,474$0▼ $786,474
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$481,563$0▼ $481,563
Temporarily Rstr Net Assets$158,993$0▼ $158,993
Permanently Rstr Net Assets$145,918$0▼ $145,918
Total Net Assets Fund Balance$786,474$0▼ $786,474
Total Liabilities and Net Assets / Fund Balance$786,474$0▼ $786,474

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$150,918----
2013$144,318$6,600--$150,918
Compensation and Service Providers
Top Officer Pay74th percentile

Board Members and Trustees

NameTitle
Charles ChasePresident
Bo BraggDirector
Jeff SzyperskiDirector
Joe SarnowskiDirector
Lance FrankeDirector
Peter CammarataDirector
Randy GrahamDirector
Deborah M CookHead of School
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$22,857
Other Revenue
$0
Change in Net Assets
$-907,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$926,325
Other Expenses$3,572
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$926,325--$926,325
Fees for Service Investment Mgmnt Fees-$3,572-$3,572
Total Functional Expenses$926,325$3,572$0$929,897
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
54-0793534-501(c)(3)TO SUPPORT CHESAPEAKE ACADEMY, INC. BY POLICY 5% OF THE THREE YEAR TRAILING AVERAGE IS DISTRIBUTED TO THE ACADEMY FOR DESIGNATED USE. MORE CAN BE DISTRIBUTED IF THE BOARD DEEMS IT NECESSARY.$926,325
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Chesapeake BankPresident of Bank Is Board MemberFoundation Banks With Chesapeake BankNo-

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
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The form 990 was approved by board members and management prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The board members are required to submit a form documenting any conflicts of interest that may exist. If there are changes to the board outside of regular elections, any new members are required to submit their form when they begin serving on the board.”

Form 990, Part VI, Section C, Line 19

“The organization's form 990 can be made available upon request. The organization's form 1023 is available upon request.”

Filing and Contact Details

Filer

EIN
52-1203663
Phone
8044385575

Signing Officer

Name
Deborah M Cook
Title
Head of School
Phone
8044385575
Signed
2014-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deborah M Cook
Formed
1980
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Preparer
Olivia a Hutton CPA
Phone
8045531900
Raw XML Appendix392 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/Form990ProvidedToGvrnBodyInd01
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IRS990/FSAuditedInd01
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IRS990/GrantsToOrganizationsInd01
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IRS990/IndoorTanningServicesInd00
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IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
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IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/State0VA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCode022480
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0PERSON(S) INVOLVED: BO BRAGG, LANCE FRANKE, JEFF SZYPERSKI, DEBORAH M. COOK
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1EXPLANATION OF INVOLVEMENT: ALL PARTIES ABOVE ARE ON THE BOARD OF TRUSTEES OF CHESAPEAKE ACADEMY, INC., THE ORGRANIZATION THAT RECEIVED ALL THE FOUNDATION'S ASSETS. ADDITIONALLY, DEBORAH COOK IS EMPLOYED AS THE HEAD OF SCHOOL AT CHESAPEAKE ACADEMY.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2E:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 2E:
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WAS APPROVED BY BOARD MEMBERS AND MANAGEMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MEMBERS ARE REQUIRED TO SUBMIT A FORM DOCUMENTING ANY CONFLICTS OF INTEREST THAT MAY EXIST. IF THERE ARE CHANGES TO THE BOARD OUTSIDE OF REGULAR ELECTIONS, ANY NEW MEMBERS ARE REQUIRED TO SUBMIT THEIR FORM WHEN THEY BEGIN SERVING ON THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S FORM 990 CAN BE MADE AVAILABLE UPON REQUEST. THE ORGANIZATION'S FORM 1023 IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
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IRS990ScheduleR/PaidEmployeesSharingInd00
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IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DEBORAH M COOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEAD OF SCHOOL
ReturnHeader/BusinessOfficerGrp/PhoneNum08044385575
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-12
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10YOUNT HYDE & BARBOUR PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine109954 MAYLAND DRIVE SUITE 2300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0RICHMOND
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ReturnHeader/PreparerPersonGrp/PhoneNum08045531900
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0OLIVIA A HUTTON CPA
ReturnHeader/ReturnTs02014-11-12T12:12:47-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-05-20
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$22,857
Expenses
$929,897
Net income
-$907,040
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.23$9.30$9.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.86$0.00$7.86$0.23$0.63$0.40
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.53$0.00$7.53$0.45
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.01$0.00$8.01$0.57