Civic Intelligence

Denovo Inc.

990 • Fiscal year 2018 • EIN 61-1757919

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 07, 2019

Organization ProfileWWW.ASCENDACADEMYCHARTER.COM
5251 Coconut Creek ParkwayMargate, FL 33063

(954) 978-4555

Siviq Scores

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

Liabilities / Assets

100th percentile

5.37x

Higher debt load relative to assets than 100% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

80th percentile

0.58x

Higher debt load relative to revenue than 80% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

41st percentile

0.3%

Higher net margin than 41% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

70th percentile

$104,108

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

79th percentile

16%

Faster asset growth than 79% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

20th percentile

-12%

Faster revenue growth than 20% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets100th percentile

Assets

Up

$169,235

Up $23,678 (+16%) from 2017

Net Assets

Up

-$739,024

Up $4,775 (+0.6%) from 2017

Liabilities

Up

$908,259

Up $18,903 (+2.1%) from 2017

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin41st percentile

Revenue

Down

$1,558,478

Down $214,084 (-12%) from 2017

Expenses

Down

$1,553,703

Down $286,038 (-16%) from 2017

Net Income

Up

$4,775

Up $71,954 (+107%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2016: $236,649Liabilities 2016: $913,269Net Assets 2016: -$676,6202016Assets 2017: $145,557Liabilities 2017: $889,356Net Assets 2017: -$743,7992017Assets 2018: $169,235Liabilities 2018: $908,259Net Assets 2018: -$739,0242018Assets 2019: $204,481Liabilities 2019: $912,125Net Assets 2019: -$707,6442019Assets 2020: $284,010Liabilities 2020: $1,095,918Net Assets 2020: -$811,9082020Assets 2021: $236,945Liabilities 2021: $876,704Net Assets 2021: -$639,7592021Assets 2022: $5,551,756Liabilities 2022: $6,155,062Net Assets 2022: -$603,3062022Assets 2023: $5,506,940Liabilities 2023: $5,244,919Net Assets 2023: $262,0212023Assets 2024: $5,616,505Liabilities 2024: $5,088,247Net Assets 2024: $528,2582024

Highlighted filing

2018

Assets$169,235
Liabilities$908,259
Net Assets-$739,024
Open 2018 Filing

Operations Trend

Revenue Growth20th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $1,159,509Expenses 2016: $1,686,484Net Income 2016: -$526,9752016Revenue 2017: $1,772,562Expenses 2017: $1,839,741Net Income 2017: -$67,1792017Revenue 2018: $1,558,478Expenses 2018: $1,553,703Net Income 2018: $4,7752018Revenue 2019: $1,936,889Expenses 2019: $1,905,509Net Income 2019: $31,3802019Revenue 2020: $2,040,985Expenses 2020: $2,145,249Net Income 2020: -$104,2642020Revenue 2021: $2,135,169Expenses 2021: $2,159,966Net Income 2021: -$24,7972021Revenue 2022: $2,174,002Expenses 2022: $2,137,549Net Income 2022: $36,4532022Revenue 2023: $3,032,429Expenses 2023: $2,167,102Net Income 2023: $865,3272023Revenue 2024: $2,863,353Expenses 2024: $2,597,116Net Income 2024: $266,2372024

Highlighted filing

2018

Revenue$1,558,478
Expenses$1,553,703
Net Income$4,775
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 7, 2019
Return Version
2017v2.3
Gross Receipts
$1,558,478
Mission and Program Overview

Mission

Ascend career academy (the school) is organized and is to operate exclusively as a not for profit charter school to provide an education to individuals 9th through 12th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$72,272$128,345▲ $56,073
Land, Buildings, and Equipment, Net$73,285$37,060▼ $36,225
Accounts Receivable-$3,830-
Total Assets$145,557$169,235▲ $23,678
Liabilities
Unsecured Notes Loans Payable$857,468$857,468→ $0
Accounts Payable and Accrued Expenses$31,888$50,791▲ $18,903
Total Liabilities$889,356$908,259▲ $18,903
Net Assets / Fund Balance
Unrestricted Net Assets$-743,799$-739,024▲ $4,775
Total Net Assets Fund Balance$-743,799$-739,024▲ $4,775
Total Liabilities and Net Assets / Fund Balance$145,557$169,235▲ $23,678

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$37,060$84,095$121,155
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Vincent AlessiPrincipalFT$104,108$104,108

Board Members and Trustees

NameTitle
Greg DumontPresident
Cheryl LeontiBoard Member
Sayra HughesBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$154,588
Program Service Revenue
$1,403,890
Investment Income
$0
Other Revenue
$0
All Other Contributions
$122,963
Change in Net Assets
$4,775

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,558,478
Total Revenue per Audited Statements
$1,558,478
Total Revenue per Form 990
$1,558,478
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$847,675
Other Expenses$706,028
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$656,955$57,763-$714,718
Occupancy$237,798$59,449-$297,247
Payroll Taxes$76,189--$76,189
Fees for Services Management$68,367--$68,367
Fees for Services Other$64,568$3,313-$67,881
Other Employee Benefits$56,768--$56,768
Travel$31,342$8,222-$39,564
Depreciation Depletion$28,980$7,245-$36,225
Insurance$15,581$3,808-$19,389
Fees for Services Accounting$14,054$3,514-$17,568
Office Expenses$4,639$1,160-$5,799
Other Expenses$4,605$1,151-$5,756
All Other Expenses$2,580--$2,580
Total Functional Expenses$1,403,300$150,403$0$1,553,703

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,553,703
Total Expenses per Audited Statements$1,553,703
Total Expenses per Form 990$1,553,703
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
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

“The board of directors was provided a copy of form 990 for detail review prior to filing.”

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

“Board members are required to report conflicts of interest when they arise.”

Form 990, Page 6, Part VI, Line 15A

“Compensation for directors and key employees was determined by the board of directors when the charter school application was established and has followed a very conservative increase per year if the budget allowed. Each year the board reviews the upcoming budget which includes any salary increases.”

Form 990, Page 6, Part VI, Line 15B

“Compensation for directors and key employees was determined by the board of directors when the charter school application was established and has followed a very conservative increase per year if the budget allowed. Each year the board reviews the upcoming budget which includes any salary increases.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy and the financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Denovo Inc
EIN
61-1757919
Address
5251 COCONUT CREEK PARKWAY, MARGATE, FL 33063

Signing Officer

Name
Greg Dumont
Title
President
Signed
2019-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Dumont
Formed
2013
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
19

Preparer

Firm
Mccrady & Associates Pllc
Address
107 WATER OAK LN, ALTAMONTE SPRINGS, FL 32714
Preparer
Stacy Mccrady
Phone
4079604429
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The school qualifies as a tax-exempt organization under internal revenue code section 501(c)(3), and is therefore, exempt from income taxes. Accordingly, no tax provision has been made in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related notes to the financial statements. The school's income tax return for the past three years 2016, 2015 and 2014 are subject to examination by tax authorities, and may change upon examination.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), AND IS THEREFORE, EXEMPT FROM INCOME TAXES. ACCORDINGLY, NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. ADDITIONALLY, NO UNCERTAIN TAX POSITIONS HAVE BEEN MADE REQUIRING DISCLOSURE IN THE RELATED NOTES TO THE FINANCIAL STATEMENTS. THE SCHOOL'S INCOME TAX RETURN FOR THE PAST THREE YEARS 2016, 2015 AND 2014 ARE SUBJECT TO EXAMINATION BY TAX AUTHORITIES, AND MAY CHANGE UPON EXAMINATION.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PUBLICIZED ITS RACIALLY NON DISCRIMINATORY POLICY THROUGH VARIOUS MEANS, INCLUDING NEWSPAPERS, GROUP PRESENTATION, AND DIRECT MAILINGS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1REVENUE ARE RECEIVED FROM THE FLORIDA DEPARTMENT OF EDUCATION UNDER THE FLORIDA EDUCATION FINANCE PROGRAM. THE AMOUNT RECEIVED IS BASED UPON THE NUMBER OF WEIGHTED FULL-TIME EQUIVALENT STUDENTS REPORTED BY THE SCHOOL DURING THE SURVEY PERIOD.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS WAS PROVIDED A COPY OF FORM 990 FOR DETAIL REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO REPORT CONFLICTS OF INTEREST WHEN THEY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR DIRECTORS AND KEY EMPLOYEES WAS DETERMINED BY THE BOARD OF DIRECTORS WHEN THE CHARTER SCHOOL APPLICATION WAS ESTABLISHED AND HAS FOLLOWED A VERY CONSERVATIVE INCREASE PER YEAR IF THE BUDGET ALLOWED. EACH YEAR THE BOARD REVIEWS THE UPCOMING BUDGET WHICH INCLUDES ANY SALARY INCREASES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION FOR DIRECTORS AND KEY EMPLOYEES WAS DETERMINED BY THE BOARD OF DIRECTORS WHEN THE CHARTER SCHOOL APPLICATION WAS ESTABLISHED AND HAS FOLLOWED A VERY CONSERVATIVE INCREASE PER YEAR IF THE BUDGET ALLOWED. EACH YEAR THE BOARD REVIEWS THE UPCOMING BUDGET WHICH INCLUDES ANY SALARY INCREASES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TempOrPermanentEndowmentsInd0false
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-07
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ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASCEND ACADEMY CHARTER
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ReturnHeader/FilingSecurityInformation/IPTm014:51:36
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0822180420
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCCRADY & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0107 WATER OAK LN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALTAMONTE SPRINGS
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032714
ReturnHeader/PreparerPersonGrp/PhoneNum04079604429
ReturnHeader/PreparerPersonGrp/PreparationDt02019-03-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STACY MCCRADY
ReturnHeader/ReturnTs02019-03-07T14:51:36-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$169,235
Liabilities
$908,259
Net assets
-$739,024
Revenue
$1,558,478
Expenses
$1,553,703
Net income
$4,775
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.62$5.09$0.53$2.86$2.60$0.27
2023Detailed filing. Detailed filing data is available for this year.$5.51$5.24$0.26$3.03$2.17$0.87
2022Detailed filing. Detailed filing data is available for this year.$5.55$6.16$0.60$2.17$2.14$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.24$0.88$0.64$2.14$2.16$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.28$1.10$0.81$2.04$2.15$0.10
2019Detailed filing. Detailed filing data is available for this year.$0.20$0.91$0.71$1.94$1.91$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.17$0.91$0.74$1.56$1.55$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.15$0.89$0.74$1.77$1.84$0.07
2016Summary only. Only limited summary data is available for this year.$0.24$0.91$0.68$1.16$1.69$0.53