Civic Intelligence

Park Place School Inc

990 • Fiscal year 2017 • EIN 54-1965765

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 24, 2018

422 Shirley AvenueNorfolk, VA 23517

(757) 624-3473

Siviq Scores

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

Liabilities / Assets

40th percentile

0.01x

Higher debt load relative to assets than 40% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

41st percentile

0.02x

Higher debt load relative to revenue than 41% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

19th percentile

-11%

Higher net margin than 19% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

77th percentile

$70,000

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 13.6% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

81st percentile

25%

Faster asset growth than 81% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2017

Revenue Growth

52nd percentile

5.9%

Faster revenue growth than 52% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2017

Assets

Up

$716,286

Up $257,782 (+56%) from 2015

Net Assets

Up

$707,978

Up $253,056 (+56%) from 2015

Liabilities

Up

$8,308

Up $4,726 (+132%) from 2015

Revenue

Up

$514,228

Up $55,323 (+12%) from 2015

Expenses

Up

$570,006

Up $73,827 (+15%) from 2015

Net Income

Down

-$55,778

Down $18,504 (-50%) from 2015

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2010: $554,610Liabilities 2010: $72,223Net Assets 2010: $482,3872010Assets 2011: $430,647Liabilities 2011: $96,968Net Assets 2011: $333,6792011Assets 2012: $367,288Liabilities 2012: $101,063Net Assets 2012: $266,2252012Assets 2013: $461,856Liabilities 2013: $63,781Net Assets 2013: $398,0752013Assets 2014: $531,542Liabilities 2014: $39,344Net Assets 2014: $492,1982014Assets 2015: $458,504Liabilities 2015: $3,582Net Assets 2015: $454,9222015Assets 2017: $716,286Liabilities 2017: $8,308Net Assets 2017: $707,9782017Assets 2018: $750,315Liabilities 2018: $14,414Net Assets 2018: $735,9012018Assets 2019: $725,910Liabilities 2019: $6,015Net Assets 2019: $719,8952019Assets 2020: $514,410Liabilities 2020: $100,273Net Assets 2020: $414,1372020Assets 2021: $525,331Liabilities 2021: $0Net Assets 2021: $525,3312021Assets 2022: $414,956Liabilities 2022: $0Net Assets 2022: $414,9562022Assets 2023: $593,883Liabilities 2023: $37,918Net Assets 2023: $555,9652023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2017

Assets$716,286
Liabilities$8,308
Net Assets$707,978

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $306,9862010Expenses 2011: $433,8282011Expenses 2012: $383,7922012Revenue 2013: $285,686Expenses 2013: $159,305Net Income 2013: $126,3812013Revenue 2014: $600,043Expenses 2014: $505,920Net Income 2014: $94,1232014Revenue 2015: $458,905Expenses 2015: $496,179Net Income 2015: -$37,2742015Revenue 2017: $514,228Expenses 2017: $570,006Net Income 2017: -$55,7782017Revenue 2018: $604,649Expenses 2018: $588,662Net Income 2018: $15,9872018Revenue 2019: $671,334Expenses 2019: $686,043Net Income 2019: -$14,7092019Revenue 2020: $397,601Expenses 2020: $703,359Net Income 2020: -$305,7582020Revenue 2021: $752,546Expenses 2021: $641,352Net Income 2021: $111,1942021Revenue 2022: $617,371Expenses 2022: $727,746Net Income 2022: -$110,3752022Revenue 2023: $1,004,716Expenses 2023: $857,721Net Income 2023: $146,9952023Revenue 2024: $518,312Expenses 2024: $830,783Net Income 2024: -$312,4712024

Highlighted filing

2017

Revenue$514,228
Expenses$570,006
Net Income-$55,778
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 24, 2018
Return Version
2016v3.0
Gross Receipts
$514,228
Mission and Program Overview

Mission

The mission of park place school in collaboration with community partners, is to build strong academic and spiritual foundations in students to prepare them for success.

Park Place School serves at-risk students from 2nd-5th grade. We are a Christian private school funded entirely through donors. Our families are under the 300% poverty levels and do not pay tuition.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$394,459$348,220▼ $46,239
Land, Buildings, and Equipment, Net$238,544$227,614▼ $10,930
Total Assets$756,351$716,286▼ $40,065
Other Assets Total$123,348$140,452▲ $17,104
Liabilities
Accounts Payable and Accrued Expenses$4,697$8,308▲ $3,611
Total Liabilities$4,697$8,308▲ $3,611
Net Assets / Fund Balance
Unrestricted Net Assets$266,675$572,526▲ $305,851
Permanently Rstr Net Assets$102,125$102,125→ $0
Temporarily Rstr Net Assets$382,854$33,327▼ $349,527
Total Net Assets Fund Balance$751,654$707,978▼ $43,676
Total Liabilities and Net Assets / Fund Balance$756,351$716,286▼ $40,065

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$223,102$132,736$355,838
Equipment$4,512$18,863$23,375
Other Land Buildings$0$14,965$14,965
Other Assets Org$135,452--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Aimee Phillipsexecutive DirectorFT$70,000$70,000

Board Members and Trustees

NameTitle
Peter FraserPresident
Dora Lee Taylordirector
Karen Uptondirector
Kristin Barbourdirector
Mike Farissdirector
Robert Slaughterdirector
Roger Cheeksdirector
Melissa CockerillSecretary
Patrick FinnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$507,016
Program Service Revenue
$7,165
Investment Income
$47
Other Revenue
$0
All Other Contributions
$505,913
Change in Net Assets
$-55,778
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$318,605
Other Expenses$145,092
Grants and Similar Amounts Paid$106,309
Total Fundraising Expense$36,313
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$103,822$43,765$29,177$176,764
Current Officers, Directors, Trustees, and Key Employees$115,000--$115,000
Grants to Domestic Individuals$106,309--$106,309
Office Expenses$5,138$19,270$1,285$25,693
Occupancy$21,375$2,375-$23,750
Payroll Taxes$16,799$3,360$2,240$22,399
All Other Expenses$14,049-$3,167$17,216
Depreciation Depletion$10,930--$10,930
Other Expenses$5,789$5,480-$5,789
Information Technology$4,530--$4,530
Other Employee Benefits$3,332$666$444$4,442
Fees for Services Accounting$2,054--$2,054
Total Functional Expenses$458,777$74,916$36,313$570,006
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

The board of directors reviews the return prior to filing.

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

Employees are given handbooks at the time of employment and policies are gone over before each school year with employees, and discussed at board meetings. IN THE EVENT THAT A BOARD MEMBER HAS A POTENTIAL CONFLICT OF INTEREST DURING THE YEAR, SUCH BOARD MEMBER SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS OR VOTE ON THE MATTER.

Form 990, Part VI, Section B, line 15

The Board President and members approve the compensation of the director and principal. Contracts are drawn by the president. For key employees, Contracts are drawn by the director, and approved by the board president and members.

Form 990, Part VI, Section C, line 19

the organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Park Place School Inc
EIN
54-1965765
Phone
7576243473
Address
422 Shirley Avenue, Norfolk, VA 23517

Signing Officer

Name
Peter Fraser
Title
Board President
Phone
7576243473
Signed
2018-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Fraser
Formed
1999
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
13
Volunteers
13

Preparer

Firm
Cherry Bekaert Llp
Address
222 Central Park Ave Ste 1400, Virginia Beach, VA 23462
Preparer
Amanda Adams
Phone
7574562400
Supplemental Narrative

Additional Explanations

Form 990, Part III, line 2

In addition to daily instructions in core subject areas, our students have access to a counselor from Compass Youth, educational therapists from the National Instritute of Learning Development (NILD), health and physical education provided by the local YMCA, social and emotional training sessions with instructors from Regent University, and Title I services by NESI.

Financial Statement Notes

Part X, Line 2:

The School has evaluated the effect of GAAP on Accounting for Uncertainty in Income Taxes. The School is a not-for-profit organization and is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code. Management believes that the School continues to satisfy the requirements of a tax-exempt organization and, therefore, had no uncertain income tax positions at June 30, 2017.

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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-55778
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt07165
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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0223102
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0132736
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0355838
IRS990ScheduleD/EquipmentGrp/BookValueAmt04512
IRS990ScheduleD/EquipmentGrp/DepreciationAmt018863
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt023375
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1135452
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Beneficial Interest in Investments
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt014965
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt014965
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School has evaluated the effect of GAAP on Accounting for Uncertainty in Income Taxes. The School is a not-for-profit organization and is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code. Management believes that the School continues to satisfy the requirements of a tax-exempt organization and, therefore, had no uncertain income tax positions at June 30, 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0227614
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0140452
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S RACIALLY NON-DISCRIMINATORY POLICY TOWARDS STUDENTS IS PUBLISHED ANNUALLY THROUGH A PRINTED STATEMENT OF THE SCHOOL'S ADMINISTRATION POLICY in a student/parent handbook.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0106309
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt068
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The selection process for a scholarship is that the family meets the 300% of poverty guideline. The same guideline is used for free and reduced lunch.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0In addition to daily instructions in core subject areas, our students have access to a counselor from Compass Youth, educational therapists from the National Instritute of Learning Development (NILD), health and physical education provided by the local YMCA, social and emotional training sessions with instructors from Regent University, and Title I services by NESI.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The board of directors reviews the return prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Employees are given handbooks at the time of employment and policies are gone over before each school year with employees, and discussed at board meetings. IN THE EVENT THAT A BOARD MEMBER HAS A POTENTIAL CONFLICT OF INTEREST DURING THE YEAR, SUCH BOARD MEMBER SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS OR VOTE ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Board President and members approve the compensation of the director and principal. Contracts are drawn by the president. For key employees, Contracts are drawn by the director, and approved by the board president and members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4the organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0382854
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt033327
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0756351
IRS990/TotalAssetsEOYAmt0716286
IRS990/TotalAssetsGrp/BOYAmt0756351
IRS990/TotalAssetsGrp/EOYAmt0716286
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0507016
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt036313
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt074916
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0458777
IRS990/TotalFunctionalExpensesGrp/TotalAmt0570006
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04697
IRS990/TotalLiabilitiesEOYAmt08308
IRS990/TotalLiabilitiesGrp/BOYAmt04697
IRS990/TotalLiabilitiesGrp/EOYAmt08308
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0751654
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0707978
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0458777
IRS990/TotalProgramServiceRevenueAmt07165
IRS990/TotalReportableCompFromOrgAmt070000
IRS990/TotalRevenueGrp/ExclusionAmt047
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07165
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0514228
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0756351
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0716286
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0266675
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0572526
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0422 Shirley Avenue
IRS990/USAddress/CityNm0Norfolk
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023517
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0www.parkplaceschool.org
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Peter Fraser
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board President

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.52$0.83$0.31
2023Detailed filing. Detailed filing data is available for this year.$0.59$0.04$0.56$1.00$0.86$0.15
2022Detailed filing. Detailed filing data is available for this year.$0.41$0.00$0.41$0.62$0.73$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.53$0.00$0.53$0.75$0.64$0.11
2020Detailed filing. Detailed filing data is available for this year.$0.51$0.10$0.41$0.40$0.70$0.31
2019Detailed filing. Detailed filing data is available for this year.$0.73$0.01$0.72$0.67$0.69$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.75$0.01$0.74$0.60$0.59$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.72$0.01$0.71$0.51$0.57$0.06
2015Summary only. Only limited summary data is available for this year.$0.46$0.00$0.45$0.46$0.50$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.53$0.04$0.49$0.60$0.51$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.06$0.40$0.29$0.16$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.10$0.27$0.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.10$0.33$0.43
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.55$0.07$0.48$0.31