Civic Intelligence

New Designs Charter School

990 • Fiscal year 2015 • EIN 71-0940292

Jul 01, 2014 to Jun 30, 2015 • Filed on May 16, 2016

2303 Figueroa WayLos Angeles, CA 90043

(213) 765-0130

Siviq Scores

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

Liabilities / Assets

74th percentile

0.56x

Higher debt load relative to assets than 74% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

50th percentile

0.25x

Higher debt load relative to revenue than 50% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

50th percentile

2.9%

Higher net margin than 50% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

57th percentile

$192,708

Higher top officer pay than 57% of similar nonprofits.

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

2nd percentile

-30%

Faster asset growth than 2% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

73rd percentile

14%

Faster revenue growth than 73% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Assets

Down

$5,951,280

Down $2,417,774 (-29%) from 2013

Net Assets

Down

$2,625,026

Down $356,064 (-12%) from 2013

Liabilities

Down

$3,326,254

Down $2,061,710 (-38%) from 2013

Revenue

$13,505,680

No earlier filing loaded for comparison.

Expenses

Up

$13,110,702

Up $3,183,159 (+32%) from 2013

Net Income

$394,978

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $5,648,231Liabilities 2010: $5,032,968Net Assets 2010: $615,2632010Assets 2013: $8,369,054Liabilities 2013: $5,387,964Net Assets 2013: $2,981,0902013Assets 2015: $5,951,280Liabilities 2015: $3,326,254Net Assets 2015: $2,625,0262015Assets 2019: $13,628,436Liabilities 2019: $5,113,337Net Assets 2019: $8,515,0992019Assets 2020: $10,610,248Liabilities 2020: $1,880,874Net Assets 2020: $8,729,3742020Assets 2021: $56,545,069Liabilities 2021: $44,767,241Net Assets 2021: $11,777,8282021Assets 2022: $57,866,509Liabilities 2022: $45,784,672Net Assets 2022: $12,081,8372022Assets 2023: $104,852,558Liabilities 2023: $91,578,124Net Assets 2023: $13,274,4342023Assets 2024: $111,747,050Liabilities 2024: $96,357,157Net Assets 2024: $15,389,8932024

Highlighted filing

2015

Assets$5,951,280
Liabilities$3,326,254
Net Assets$2,625,026

Operations Trend

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

$30M$20M$10M$0Expenses 2010: $7,736,2052010Expenses 2013: $9,927,5432013Revenue 2015: $13,505,680Expenses 2015: $13,110,702Net Income 2015: $394,9782015Revenue 2019: $19,468,965Expenses 2019: $17,915,640Net Income 2019: $1,553,3252019Revenue 2020: $19,534,900Expenses 2020: $19,223,502Net Income 2020: $311,3982020Revenue 2021: $20,507,111Expenses 2021: $17,787,213Net Income 2021: $2,719,8982021Revenue 2022: $22,376,572Expenses 2022: $22,072,563Net Income 2022: $304,0092022Revenue 2023: $23,432,981Expenses 2023: $22,240,384Net Income 2023: $1,192,5972023Revenue 2024: $25,394,834Expenses 2024: $23,279,375Net Income 2024: $2,115,4592024

Highlighted filing

2015

Revenue$13,505,680
Expenses$13,110,702
Net Income$394,978
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 16, 2016
Return Version
2014v6.0
Gross Receipts
$13,505,680
Mission and Program Overview

Mission

EDUCATIONAL

New Designs Charter School is a charter school located in Los Angeles, CA that provides educational activities for grades sixth through twelve.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,320,736$1,939,837▲ $619,101
Land, Buildings, and Equipment, Net$3,686,111$1,768,692▼ $1,917,419
Accounts Receivable$3,082,068$1,716,831▼ $1,365,237
Prepaid Expenses and Deferred Charges$51,732$247,363▲ $195,631
Total Assets$8,515,230$5,951,280▼ $2,563,950
Other Assets Total$374,583$278,557▼ $96,026
Liabilities
Unsecured Notes Loans Payable$3,611,914$1,697,067▼ $1,914,847
Other Liabilities-$972,069-
Accounts Payable and Accrued Expenses$1,406,642$331,530▼ $1,075,112
Deferred Revenue$344,060$325,588▼ $18,472
Total Liabilities$5,362,616$3,326,254▼ $2,036,362
Net Assets / Fund Balance
Unrestricted Net Assets$3,152,614$2,625,026▼ $527,588
Total Net Assets Fund Balance$3,152,614$2,625,026▼ $527,588
Total Liabilities and Net Assets / Fund Balance$8,515,230$5,951,280▼ $2,563,950

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,413,302$-539,859$4,559,554
Equipment$355,390-$355,390
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dr Yaw AutwumCEOFT$192,708$192,708

Board Members and Trustees

NameTitle
Andrea CockrumPresident
Lloyd McKinneyVice President
Diego AbbaMember
Edna MarroquinMember
Kojoe EssienMember
Derek AkrofiSecretary
Sheldon ZaslanskyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Don Williams Catering ServicesFood Services10345 Western Avenue Suite 79, Downey, CA 90241$660,919
Feed You Well IncFood ServicesPO Box 654, Burbank, CA 91503$379,171
-Accounting Services4221 Wilshire Boulevard, Los Angeles, CA 90010$256,912
Revenue and Support

Revenue Composition

Contributions and Grants
$13,505,680
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$100,000
Change in Net Assets
$394,978

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,505,680
Total Revenue per Audited Statements
$13,505,680
Total Revenue per Form 990
$13,505,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,937,515
Salaries, Compensation, and Employee Benefits$6,173,187
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,744,857--$4,744,857
Occupancy$1,939,114--$1,939,114
Other Employee Benefits$1,235,622--$1,235,622
Interest$307,173--$307,173
Other Expenses$281,813--$281,813
Current Officers, Directors, Trustees, and Key Employees$192,708--$192,708
All Other Expenses$5,053--$5,053
Total Functional Expenses$13,110,702$0$0$13,110,702

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,090,880
Total Expenses per Audited Statements$13,090,880
Total Expenses per Form 990$13,090,880
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$591,950
Accrued liabilities$349,098
Payroll liabilities - IRS$33,502
Other liabilities-
Intercompany$-2,481
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
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
No

Governance Explanations

Form 990, Part VI, Line 11B

Organizations Procedd To Review Form 990 - The tax return is prepared by our audit firm and it is reveiwed by the Director of Finance and the CEO. The tax return is then reviewed by the finance committe and approved by the board of directors.

Form 990, Part VI, Line 12C

Enforcement of Conflicts Policy - any action before the board that benefits any voting member will be addressed by having that board member leave the meeting during deliberation and voting on the item that benefits that member of the board. The baord also requires each member to complete a Form700 on a annual basis.

Form 990, Part VI, Line 15A

Compensation Process for Top Official - An independent organization recommends compensation based on comparable CEO compensation of similar organizations in the industry that are of the same size as New Designs Charter Schools. The board approves the recommendation by the independent organization.

Form 990, Part VI, Line 15B

Compensation Process for Officers - An Independent organization recommends compensation of similar organizations in the industry that are of the same size as New Designs Charter Schools. The Board approves the recommendation by the independent organization.

Form 990, Part VI, Line Line 19

Governing Documents Disclosure Explanation - All Governing documents are maintained in our office and are available for review upon request.

Filing and Contact Details

Filer

Filer Name
New Designs Charter School
EIN
71-0940292
Phone
2137650130
Address
2303 Figueroa Way, Los Angeles, CA 90043

Signing Officer

Name
Yaw adutwum
Title
Excutive Director
Phone
2137650130
Signed
2016-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Yaw Adutwum CEO
Formed
2003
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
151

Preparer

Firm
MTB Accountancy Group An Accountancy Corporation
Address
5120 Goldleaf Circle Suite 180, Los Angeles, CA 90056
Preparer
Samyr D Codio Principal
Phone
3232964366
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0247363
IRS990/PrincipalOfficerNm0Dr Yaw Adutwum CEO
IRS990/PriorPeriodAdjustmentsAmt0-922566
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt011881489
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt05750018
IRS990/PYRevenuesLessExpensesAmt0171523
IRS990/PYSalariesCompEmpBnftPaidAmt05959948
IRS990/PYTotalExpensesAmt011709966
IRS990/PYTotalRevenueAmt011881489
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0394978
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt013505680
IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
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/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0355390
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0355390
IRS990ScheduleD/ExpensesSubtotalAmt013090880
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01413302
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0-539859
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt04559554
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0591950
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt133502
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2349098
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3-2481
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Payroll liabilities - IRS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Accrued liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Intercompany
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Other liabilities
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt013505680
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01768692
IRS990ScheduleD/TotalExpensesPerForm990Amt013090880
IRS990ScheduleD/TotalLiabilityAmt0972069
IRS990ScheduleD/TotalRevenuePerForm990Amt013505680
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt013505680
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt013090880
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0192708
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Dr Yaw Autwum
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0192708
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Organizations Procedd To Review Form 990 - The tax return is prepared by our audit firm and it is reveiwed by the Director of Finance and the CEO. The tax return is then reviewed by the finance committe and approved by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Enforcement of Conflicts Policy - any action before the board that benefits any voting member will be addressed by having that board member leave the meeting during deliberation and voting on the item that benefits that member of the board. The baord also requires each member to complete a Form700 on a annual basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation Process for Top Official - An independent organization recommends compensation based on comparable CEO compensation of similar organizations in the industry that are of the same size as New Designs Charter Schools. The board approves the recommendation by the independent organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation Process for Officers - An Independent organization recommends compensation of similar organizations in the industry that are of the same size as New Designs Charter Schools. The Board approves the recommendation by the independent organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Governing Documents Disclosure Explanation - All Governing documents are maintained in our office and are available for review upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08515230
IRS990/TotalAssetsEOYAmt05951280
IRS990/TotalAssetsGrp/BOYAmt08515230
IRS990/TotalAssetsGrp/EOYAmt05951280
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt013505680
IRS990/TotalEmployeeCnt0151
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt013110702
IRS990/TotalFunctionalExpensesGrp/TotalAmt013110702
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt03326254
IRS990/TotalLiabilitiesGrp/BOYAmt05362616
IRS990/TotalLiabilitiesGrp/EOYAmt03326254
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03152614
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02625026
IRS990/TotalProgramServiceExpensesAmt013110702
IRS990/TotalReportableCompFromOrgAmt0192708
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt013505680
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08515230
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05951280
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03152614
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02625026
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt03611914
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01697067
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02303 S Figueroa Way
IRS990/USAddress/CityNm0Los Angeles
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090047

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