Civic Intelligence

Kings Academy Inc.

990 • Fiscal year 2015 • EIN 73-1705212

Aug 01, 2014 to Jul 31, 2015 • Filed on Jun 14, 2016

Organization Profilewww.kingsacademy.edu.jo
245 PARK AVENUE 39th FloorNew York, NY 10167

(646) 383-4976

Siviq Scores

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

Liabilities / Assets

20th percentile

0.02x

Higher debt load relative to assets than 20% of similar nonprofits.

2015 filings • NTEE B • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

67th percentile

0.40x

Higher debt load relative to revenue than 67% of similar nonprofits.

2015 filings • NTEE B • $5M-$10M nonprofits • Source year 2015

Net Margin

1st percentile

-461%

Higher net margin than 1% of similar nonprofits.

2015 filings • NTEE B • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

2015 filings • NTEE B • $5M-$10M nonprofits • Source year 2015

Asset Growth

6th percentile

-16%

Faster asset growth than 6% of similar nonprofits.

2015 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

6th percentile

-31%

Faster revenue growth than 6% of similar nonprofits.

2015 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets20th percentile

Assets

Down

$5,510,891

Down $1,061,321 (-16%) from 2014

Net Assets

Down

$5,382,821

Down $1,090,121 (-17%) from 2014

Liabilities

Up

$128,070

Up $28,800 (+29%) from 2014

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin1st percentile

Revenue

Down

$318,909

Down $145,864 (-31%) from 2014

Expenses

Up

$1,788,347

Up $1,442,037 (+416%) from 2014

Net Income

Down

-$1,469,438

Down $1,587,901 (-1340%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$15M$10M$5.0M$0Assets 2011: $5,066,771Liabilities 2011: $473,151Net Assets 2011: $4,593,6202011Assets 2012: $7,561,237Liabilities 2012: $458,992Net Assets 2012: $7,102,2452012Assets 2013: $6,587,595Liabilities 2013: $132,379Net Assets 2013: $6,455,2162013Assets 2014: $6,572,212Liabilities 2014: $99,270Net Assets 2014: $6,472,9422014Assets 2015: $5,510,891Liabilities 2015: $128,070Net Assets 2015: $5,382,8212015Assets 2016: $6,802,749Liabilities 2016: $181,144Net Assets 2016: $6,621,6052016Assets 2017: $7,283,049Liabilities 2017: $43,884Net Assets 2017: $7,239,1652017Assets 2018: $7,195,790Liabilities 2018: $68,416Net Assets 2018: $7,127,3742018Assets 2019: $6,997,886Liabilities 2019: $84,956Net Assets 2019: $6,912,9302019Assets 2020: $7,838,054Liabilities 2020: $238,009Net Assets 2020: $7,600,0452020Assets 2021: $8,160,544Liabilities 2021: $793,196Net Assets 2021: $7,367,3482021Assets 2022: $11,657,097Liabilities 2022: $2,968,378Net Assets 2022: $8,688,7192022Assets 2023: $10,984,473Liabilities 2023: $141,736Net Assets 2023: $10,842,7372023Assets 2024: $11,985,195Liabilities 2024: $120,735Net Assets 2024: $11,864,4602024

Highlighted filing

2015

Assets$5,510,891
Liabilities$128,070
Net Assets$5,382,821
Open 2015 Filing

Operations Trend

Revenue Growth6th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2011: $664,444Expenses 2011: $711,370Net Income 2011: -$46,9262011Expenses 2012: $786,2042012Revenue 2013: $263,831Expenses 2013: $1,020,861Net Income 2013: -$757,0302013Revenue 2014: $464,773Expenses 2014: $346,310Net Income 2014: $118,4632014Revenue 2015: $318,909Expenses 2015: $1,788,347Net Income 2015: -$1,469,4382015Revenue 2016: $1,870,995Expenses 2016: $657,756Net Income 2016: $1,213,2392016Revenue 2017: $3,519,717Expenses 2017: $2,902,157Net Income 2017: $617,5602017Revenue 2018: $430,297Expenses 2018: $482,874Net Income 2018: -$52,5772018Revenue 2019: $292,075Expenses 2019: $476,307Net Income 2019: -$184,2322019Revenue 2020: $1,363,206Expenses 2020: $637,201Net Income 2020: $726,0052020Revenue 2021: $276,804Expenses 2021: $551,160Net Income 2021: -$274,3562021Revenue 2022: $1,966,644Expenses 2022: $638,855Net Income 2022: $1,327,7892022Revenue 2023: $3,107,434Expenses 2023: $685,324Net Income 2023: $2,422,1102023Revenue 2024: $730,576Expenses 2024: $49,492Net Income 2024: $681,0842024

Highlighted filing

2015

Revenue$318,909
Expenses$1,788,347
Net Income-$1,469,438
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2014 to Jul 31, 2015
Signed
Jun 14, 2016
Return Version
2014v6.0
Gross Receipts
$318,909
Mission and Program Overview

Mission

King's academy psc is a jordanian charity that owns and operates king's academy, the school. In a setting rich in history and tradition, the academy is committed to providing a comprehensive college-preparatory education through a challenging curriculum in the arts and sciences; an integrated co-curricular program of athletics, activities and community service; and a nurturing residential environment. Our students will learn to be independent, creative and responsible thinkers within an ethical community that encourages young men and women with diverse backgrounds and beliefs to excel, to respect one another and to prepare for leadership.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$3,009,056$3,606,979▲ $597,923
Savings and Temporary Cash Investments$29,367$818,116▲ $788,749
Pledges and Grants Receivable$1,336,429$726,200▼ $610,229
Cash and Non-Interest-Bearing Accounts$1,055,275$132,234▼ $923,041
Accounts Receivable$12,315$24,435▲ $12,120
Prepaid Expenses and Deferred Charges$3,488$3,587▲ $99
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$6,572,212$5,510,891▼ $1,061,321
Other Assets Total$1,126,282$199,340▼ $926,942
Liabilities
Accounts Payable and Accrued Expenses$99,270$128,070▲ $28,800
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$99,270$128,070▲ $28,800
Net Assets / Fund Balance
Permanently Rstr Net Assets$3,628,647$3,574,629▼ $54,018
Temporarily Rstr Net Assets$1,424,384$2,996,766▲ $1,572,382
Unrestricted Net Assets$1,419,911$-1,188,574▼ $2,608,485
Total Net Assets Fund Balance$6,472,942$5,382,821▼ $1,090,121
Total Liabilities and Net Assets / Fund Balance$6,572,212$5,510,891▼ $1,061,321

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$3,606,979--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$3,717,892$31,850▲ $141,654$83,023$3,749,882
2013$3,037,057$673,761▲ $184,585$142,610$3,717,892
2012$3,022,280$25,000▲ $183,338$122,043$3,037,057
2011$2,728,336$201,550▲ $335,204$96,790$3,022,280
2010$2,728,336---$2,728,336
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Karim KawarChairman & President
Amin Badr El-dinTrustee
Michael HessTrustee
Mr Aqel BiltajiTrustee
Mr Bassem Al-SalemTrustee
Ms M Burch Tracy FordTrustee
Peter ShoemakerTrustee
Peter WeinbergTrustee
Talal K ShairTrustee
Tarek O AggadTrustee
Randa QunsolChief Financial Officer
David PondSecretary
George FauxTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$301,513
Program Service Revenue
$0
Investment Income
$17,851
Other Revenue
$-455
All Other Contributions
$301,513
Change in Net Assets
$-1,469,438
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,486,762
Other Expenses$234,263
Total Fundraising Expense$104,311
Salaries, Compensation, and Employee Benefits$67,322
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$1,486,762--$1,486,762
Fees for Services Accounting-$67,500-$67,500
Travel$19,539$20,132$19,539$59,210
Other Salaries and Wages-$5,500$49,500$55,000
Occupancy-$21,366$21,367$42,733
Fees for Services Legal-$21,000-$21,000
Office Expenses$2,035$16,147$2,815$20,997
Other Employee Benefits-$658$5,921$6,579
Payroll Taxes-$464$4,179$4,643
Pension Plan Contributions-$110$990$1,100
Other Expenses-$924-$924
Advertising-$500-$500
Total Functional Expenses$1,508,336$175,700$104,311$1,788,347
International Activity

International Summary

Spending
$1,486,762

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Middle East and North AfricaGrantmakingGrantmaking--$1,486,762
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
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, Line 11B

“Form 990 review process: the 990 is reviewed and approved by management and legal counsel prior to submission. A copy is then distributed to the board for their records after filing.”

Form 990, Part VI, Line 12

“Conflict of interest policy: each trustee, principal officer and member of a committee with board delegated powers shall annually sign a statement which affirms that such person has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that the organization is a charitable organization and that in order to maintain the organization's federal tax exemption, the organization must engage primarily in activities which accomplish one or more of the organization's tax exempt purposes.”

Form 990, Part VI, Line 15A

“Compensation procedures: the organization uses the approval by the board or compensation committee to establish the compensation of the organization's ceo/executive director.”

Form 990, Part VI, Line 19

“DOCUMENTS FOR PUBLIC INSPECTION: ALL GOVERNING DOCUMENTS, Conflict of Interest policy and Financial Statements OF THE ORGANIZATION ARE MADE AVAILABLE IMMEDIATELY UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
King's Academy Inc
EIN
73-1705212
In Care Of
% OWEN J FLANAGAN & CO
Phone
6463834976
Address
245 PARK AVENUE 39th Floor, New York, NY 10167

Signing Officer

Name
George Faux
Title
Treasurer
Phone
6463834976
Signed
2016-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bassem Al-Salem
Formed
2005
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
1
Volunteers
12

Preparer

Firm
Mitchell & Titus Llp
Address
ONE BATTERY PARK PLAZA, NEW YORK, NY 10004
Preparer
Frederick Davis
Phone
2127094500
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

“The organization's mission or most significant activities: king's academy, inc. Provides support through grants to king's academy psc (the "academy"), a college preparatory school. In a setting that is rich in history and tradition, the academy is committed to provide a comprehensive college-preparatory education through a challenging curriculum in the arts and sciences; an integrated co-curricular program of athletics, activities, and community service; and a nurturing residential environment. Our students will learn to be independent, creative, and responsible thinkers within an ethical community that encourages young men and women with diverse backgrounds and beliefs to excel, to respect one another, and to prepare for leadership.”

Financial Statement Notes

Form 990, Schedule D, Part V, Line 4

“Endowment funds are restricted to provide financial support for a specific purpose in perpetuity. Many endowment funds are designated for student scholarships or for faculty salaries. Other designations include support for visiting faculty and student activities.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chairman & President
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Treasurer
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IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
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IRS990/MissionDesc0KING'S ACADEMY, INC. PROVIDES SUPPORT THROUGH GRANTS TO KING'S ACADEMY PSC (THE "ACADEMY"), A COLLEGE PREPARATORY SCHOOL. IN A SETTING RICH IN HISTORY AND TRADITION, THE ACADEMY IS COMMITTED TO PROVIDING A COMPREHENSIVE COLLEGE-PREPARATORY EDUCATION THROUGH A CHALLENGING CURRICULUM IN THE ARTS AND SCIENCES; AN INTEGRATED CO-CURRICULAR PROGRAM OF ATHLETICS, ACTIVITIES, AND COMMUNITY SERVICE; AND A NURTURING RESIDENTIAL ENVIRONMENT. OUR STUDENTS WILL LEARN TO BE INDEPENDENT, CREATIVE, AND RESPONSIBLE THINKERS WITHIN AN ETHICAL COMMUNITY THAT ENCOURAGES YOUNG MEN AND WOMEN WITH DIVERSE BACKGROUNDS AND BELIEFS TO EXCEL, TO RESPECT ONE ANOTHER, AND TO PREPARE FOR LEADERSHIP.
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt06579
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IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS EXPENSES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1924
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IRS990/OtherExpensesGrp/TotalAmt1924
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IRS990/PayrollTaxesGrp/FundraisingAmt04179
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0464
IRS990/PayrollTaxesGrp/TotalAmt04643
IRS990/PensionPlanContributionsGrp/FundraisingAmt0990
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0110
IRS990/PensionPlanContributionsGrp/TotalAmt01100
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IRS990/PoliticalCampaignActyInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03587
IRS990/PrincipalOfficerNm0Bassem Al-Salem
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-1469438
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0-455
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt029367
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0818116
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0KING'S ACADEMY IS ACTIVELY SEEKING DONATIONS FROM THE PUBLIC IN ORDER TO PROVIDE SUPPORT TO AN ACADEMICALLY RICH COLLEGE PREPARATORY SCHOOL. THE ORGANIZATION HAS DEVELOPED A PLAN AND HIRED A STAFF PERSON TO EXPAND ITS DONOR BASE AS WELL AS INCREASE FUNDRAISING EFFORTS TO FURTHER SUPPORT EDUCATIONAL OPPORTUNITIES TO STUDENTS OF THE SCHOOL.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part II, Line 17a - 10%-facts-and-circumstances test - 2014
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,510,891
Liabilities
$128,070
Net assets
$5,382,821
Revenue
$318,909
Expenses
$1,788,347
Net income
-$1,469,438
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.0$0.12$11.9$0.73$0.05$0.68
2023Detailed filing. Detailed filing data is available for this year.$11.0$0.14$10.8$3.11$0.69$2.42
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$2.97$8.69$1.97$0.64$1.33
2021Detailed filing. Detailed filing data is available for this year.$8.16$0.79$7.37$0.28$0.55$0.27
2020Detailed filing. Detailed filing data is available for this year.$7.84$0.24$7.60$1.36$0.64$0.73
2019Detailed filing. Detailed filing data is available for this year.$7.00$0.08$6.91$0.29$0.48$0.18
2018Detailed filing. Detailed filing data is available for this year.$7.20$0.07$7.13$0.43$0.48$0.05
2017Detailed filing. Detailed filing data is available for this year.$7.28$0.04$7.24$3.52$2.90$0.62
2016Detailed filing. Detailed filing data is available for this year.$6.80$0.18$6.62$1.87$0.66$1.21
2015Detailed filing. Detailed filing data is available for this year.$5.51$0.13$5.38$0.32$1.79$1.47
2014Detailed filing. Detailed filing data is available for this year.$6.57$0.10$6.47$0.46$0.35$0.12
2013Summary only. Only limited summary data is available for this year.$6.59$0.13$6.46$0.26$1.02$0.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.56$0.46$7.10$0.79
2011Summary only. Only limited summary data is available for this year.$5.07$0.47$4.59$0.66$0.71$0.05