Civic Intelligence

Kennedy Charter Public Schools Inc

EIN 56-2052431 • 501(c)3 • Charlotte, NC

Profile

Kennedy charter public school is committed to equipping students with 21st century skills while focusing on scholarship, leadership, character, and civic responsibility.

617 N Summit AvenueCharlotte, NC 28215

www.kennedycharter.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2017

Liabilities / Revenue

62nd percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

95th percentile

80%

Higher net margin than 95% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

99th percentile

$198,333

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 495.7% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

10th percentile

-100%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

4th percentile

-99%

Faster revenue growth than 4% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Down

$0

Down $39,099 (-100%) from 2016

Liabilities

Down

$0

Down $78,082 (-100%) from 2016

Net Assets

Up

$0

Up $38,983 (+100%) from 2016

Revenue

Down

$40,014

Down $3,725,996 (-99%) from 2016

Expenses

Down

$7,945

Down $3,923,460 (-100%) from 2016

Net Income

Up

$32,069

Up $197,464 (+119%) from 2016

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$200K$0-$200KAssets 2010: $365,005Liabilities 2010: $137,379Net Assets 2010: $227,6262010Assets 2011: $272,814Liabilities 2011: $128,812Net Assets 2011: $144,0022011Assets 2012: $324,092Liabilities 2012: $113,753Net Assets 2012: $210,3392012Assets 2013: $279,619Liabilities 2013: $170,444Net Assets 2013: $109,1752013Assets 2014: $219,560Liabilities 2014: $155,733Net Assets 2014: $63,8272014Assets 2015: $280,583Liabilities 2015: $171,967Net Assets 2015: $108,6162015Assets 2016: $39,099Liabilities 2016: $78,082Net Assets 2016: -$38,9832016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2017

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,479,0322010Expenses 2011: $3,447,8262011Expenses 2012: $3,117,2182012Expenses 2013: $4,060,8962013Revenue 2014: $4,612,674Expenses 2014: $4,658,022Net Income 2014: -$45,3482014Revenue 2015: $5,028,211Expenses 2015: $4,983,422Net Income 2015: $44,7892015Revenue 2016: $3,766,010Expenses 2016: $3,931,405Net Income 2016: -$165,3952016Revenue 2017: $40,014Expenses 2017: $7,945Net Income 2017: $32,0692017

Highlighted filing

2017

Revenue$40,014
Expenses$7,945
Net Income$32,069

Filings

Latest Detailed Filing

The latest 2017 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2016 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 15, 2017
Return Version
2015v3.0
Gross Receipts
$3,766,010
Mission and Program Overview

Mission

On february 4, 2016, the north carolina state board of education voted not to renew the charter for kennedy charter public school which expired on june 30, 2016. The school closed on june 30, 2016 to students. Pursuant to north carolina statutes, all assets of the school were either transferred to charlotte-mecklenburg schools or purchased by elon homes & schools for children. All operations for kennedy charter public school were finalized by june 30, 2017.

Kennedy charter public school is committed to equipping students with 21st century skills while focusing on scholarship, leadership, character, and civic responsibility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$23,308$25,222▲ $1,914
Prepaid Expenses and Deferred Charges$15,083--
Accounts Receivable$114,647$13,877▼ $100,770
Cash and Non-Interest-Bearing Accounts$4,393--
Other Assets Total$123,152--
Total Assets$280,583$39,099▼ $241,484
Liabilities
Accounts Payable and Accrued Expenses$171,967$78,082▼ $93,885
Total Liabilities$171,967$78,082▼ $93,885
Net Assets / Fund Balance
Temporarily Rstr Net Assets$71,477--
Unrestricted Net Assets$37,139$-38,983▼ $76,122
Total Net Assets Fund Balance$108,616$-38,983▼ $147,599
Total Liabilities and Net Assets / Fund Balance$280,583$39,099▼ $241,484

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$25,222$20,904$46,126
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Jane GrosseVP Instituti-$154,420$154,420
Rose CooperCOO-$128,270$128,270
Edward H ChandlerHead of Scho$86,512-$86,512
Ronnie N ScottMs Principal$68,892-$68,892
Jewel D MaultsbyElem. School$61,013-$61,013
Alicia L HampHs Principal$60,008-$60,008
Elva C CooperEd. D, Head$46,304-$46,304

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$260,583
Program Service Revenue
$3,429,808
Investment Income
$0
Other Revenue
$75,619
All Other Contributions
$260,583
Change in Net Assets
$-165,395

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,766,010
Total Revenue per Audited Statements
$3,766,010
Total Revenue per Form 990
$3,766,010
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,852,492
Other Expenses$1,078,913
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,712,176$355,066-$2,067,242
Other Employee Benefits$262,596$67,060-$329,656
Pension Plan Contributions$245,409$67,858-$313,267
All Other Expenses$81,950$81,167-$163,117
Other Expenses$3,788$140,261-$144,049
Payroll Taxes$135,506$6,821-$142,327
Fees for Services Legal-$37,518-$37,518
Occupancy-$35,320-$35,320
Fees for Services Accounting-$11,600-$11,600
Travel$10,461--$10,461
Depreciation Depletion-$9,327-$9,327
Advertising-$5,825-$5,825
Total Functional Expenses$2,781,498$1,149,907$0$3,931,405

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,931,405
Total Expenses per Audited Statements$3,931,405
Total Expenses per Form 990$3,931,405
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
No
Annual disclosure for covered persons
No
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, Page 6, Part VI, Line 2

Frederick grosse jane grosse ceo/pres. Vp inst. Adv husband and wife

Form 990, Page 6, Part VI, Line 11B

Copies of the 990 were provided to the board of governors and management prior to filing by the third party preparer. The board reviewed the 990 via electronic means (email) and discussed the results of the return as necessary.

Form 990, Page 6, Part VI, Line 12C

Board candidates must disclose any potential conflicts of interest before their appointment to the board. This policy is reviewed annually with board members.

Form 990, Page 6, Part VI, Line 18

The organization will issue financial statements or tax return copies to interested parties upon request.

Form 990, Page 6, Part VI, Line 19

The organization will issue financial statements or tax return copies to interested parties upon request.

Filing and Contact Details

Filer

Filer Name
Kennedy Charter Public Schools Inc
EIN
56-2052431
Phone
7043692500
Address
617 N SUMMIT AVENUE, CHARLOTTE, NC 28215

Signing Officer

Name
Rev Dr Frederick G Grosse
Title
President
Phone
7043692500
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rev Dr Frederick G Grosse
Formed
1997
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
102

Preparer

Firm
Stout Stuart Mcgowen & King Llp
Address
PO BOX 1440, BURLINGTON, NC 27216-1440
Preparer
Patricia B Rhodes
Phone
3362267343
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Effective july 1, 2009, the organization adopted fasb asc 740, income taxes, which provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the consolidated financial statements. The guidance requires the evaluation of tax positions taken or expected to be taken in the organization's tax returns to determine whether the tax positions are more likely than not of being sustained by the applicable tax authority upon examination.

Raw XML AppendixShowing 400 of 501 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/OtherExpensesGrp/TotalAmt2163924
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IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherRevenueTotalAmt075619
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt067858
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0245409
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IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt020904
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt046126
IRS990ScheduleD/ExpensesSubtotalAmt03931405
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0EFFECTIVE JULY 1, 2009, THE ORGANIZATION ADOPTED FASB ASC 740, INCOME TAXES, WHICH PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED AND DISCLOSED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE GUIDANCE REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE ORGANIZATION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY UPON EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt03931405
IRS990ScheduleD/TotalRevenuePerForm990Amt03766010
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0KENNEDY CHARTER PUBLIC SCHOOL OPERATES AS A PUBLIC CHARTER SCHOOL AND IS FUNDED BY THE FEDERAL GRANTS, THE STATE OF NORTH CAROLINA, AND LOCAL GOVERNMENT. NORTH CAROLINA REQUIRES A POLICY OF NONDISCRIMINATION AND THE SCHOOL'S NONDISCRIMINATION POLICY IS DISCLOSED IN ALL SOLICITATIONS FOR STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0182871
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt199953
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0REV DR FREDERICK G GROSSE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JANE GROSSE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1VP INSTITUTIONAL ADV
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1154420
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0OTHER COMPENSATION FOR REV. DR. FREDERICK G. GROSSE: ELON HOMES & SCHOOLS FOR CHILDREN, THE RELATED PARENT ORGANIZATION FOR KENNEDY CHARTER PUBLIC SCHOOL, PROVIDED THE FOLLOWING FOR DR. GROSSE: UNUSED, ACCRUED VACATION PAYMENT (OFFERED TO ALL EMPLOYEES) - 22,195 AUTOMOBILE ALLOWANCE - 1,843 DR. GROSSE RECEIVED NO COMPENSATION FROM KENNEDY CHARTER PUBLIC SCHOOL. OTHER COMPENSATION FOR JANE GROSSE: ELON HOMES & SCHOOLS FOR CHILDREN, THE RELATED PARENT ORGANIZATION FOR KENNEDY CHARTER PUBLIC SCHOOL, PROVIDED THE FOLLOWING FOR JANE GROSSE: UNUSED, ACCRUED VACATION PAYMENT )OFFERED TO ALL EMPLOYEES) - 21,564 AUTOMOBILE ALLOWANCE - 1,503
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PART III
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FREDERICK GROSSE JANE GROSSE CEO/PRES. VP INST. ADV HUSBAND AND WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPIES OF THE 990 WERE PROVIDED TO THE BOARD OF GOVERNORS AND MANAGEMENT PRIOR TO FILING BY THE THIRD PARTY PREPARER. THE BOARD REVIEWED THE 990 VIA ELECTRONIC MEANS (EMAIL) AND DISCUSSED THE RESULTS OF THE RETURN AS NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD CANDIDATES MUST DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST BEFORE THEIR APPOINTMENT TO THE BOARD. THIS POLICY IS REVIEWED ANNUALLY WITH BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION WILL ISSUE FINANCIAL STATEMENTS OR TAX RETURN COPIES TO INTERESTED PARTIES UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION WILL ISSUE FINANCIAL STATEMENTS OR TAX RETURN COPIES TO INTERESTED PARTIES UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ELON HOMES AND SCHOOLS FOR CHILDREN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1BOYS TOWN MECKLENBURG COUNTY CAMPUS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2ELON HOMES CHILDREN'S FOUNDATION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1581609838
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2562011613
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROVIDE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1PROVIDES S
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2PROVIDE S
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt17
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt27
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 157
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1PO BOX 157

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