Civic Intelligence

Kings Academy Inc.

990 • Fiscal year 2021 • EIN 73-1705212

Aug 01, 2020 to Jul 31, 2021 • Filed on Jun 14, 2022

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

30th percentile

0.10x

Higher debt load relative to assets than 30% of similar nonprofits.

2021 filings • NTEE B • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

2.87x

Higher debt load relative to revenue than 92% of similar nonprofits.

2021 filings • NTEE B • $5M-$10M nonprofits • Source year 2021

Net Margin

3rd percentile

-99%

Higher net margin than 3% of similar nonprofits.

2021 filings • NTEE B • $5M-$10M nonprofits • Source year 2021

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.

2021 filings • NTEE B • $5M-$10M nonprofits • Source year 2021

Asset Growth

35th percentile

4.1%

Faster asset growth than 35% of similar nonprofits.

2021 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

2nd percentile

-80%

Faster revenue growth than 2% of similar nonprofits.

2021 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$8,160,544

Up $322,490 (+4.1%) from 2020

Net Assets

Down

$7,367,348

Down $232,697 (-3.1%) from 2020

Liabilities

Up

$793,196

Up $555,187 (+233%) from 2020

Revenue

Down

$276,804

Down $1,086,402 (-80%) from 2020

Expenses

Down

$551,160

Down $86,041 (-14%) from 2020

Net Income

Down

-$274,356

Down $1,000,361 (-138%) from 2020

Historical Trend

Balance Sheet Trend

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

2021

Assets$8,160,544
Liabilities$793,196
Net Assets$7,367,348

Operations Trend

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

2021

Revenue$276,804
Expenses$551,160
Net Income-$274,356
Jump To
Filing Snapshot
Filing Period
Aug 1, 2020 to Jul 31, 2021
Signed
Jun 14, 2022
Return Version
2020v4.0
Gross Receipts
$276,804
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,678,928$3,907,119▲ $1,228,191
Investments in Publicly Traded Securities$3,565,705$3,678,235▲ $112,530
Pledges and Grants Receivable$1,405,369$488,096▼ $917,273
Accounts Receivable$49,912$69,223▲ $19,311
Cash and Non-Interest-Bearing Accounts$132,790$13,311▼ $119,479
Prepaid Expenses and Deferred Charges$790--
Total Assets$7,838,054$8,160,544▲ $322,490
Other Assets Total$4,560$4,560→ $0
Liabilities
Other Liabilities$185,610$715,695▲ $530,085
Accounts Payable and Accrued Expenses$52,399$77,501▲ $25,102
Total Liabilities$238,009$793,196▲ $555,187
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,114,617$5,114,617→ $0
Net Assets Without Donor Restrictions$2,485,428$2,252,731▼ $232,697
Total Net Assets Fund Balance$7,600,045$7,367,348▼ $232,697
Total Liabilities and Net Assets / Fund Balance$7,838,054$8,160,544▲ $322,490

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$4,701,927$70,871▲ $189,406-$4,835,166
2019$4,535,776$117,885▲ $184,724$53,464$4,701,927
2018$4,463,127$26,077▲ $179,272$132,700$4,535,776
2017$4,365,950$42,276▲ $177,816$122,915$4,463,127
2016$4,265,329$100,548▲ $156,319$92,708$4,429,488
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$120,932
Program Service Revenue
$0
Investment Income
$156,660
Other Revenue
$-788
All Other Contributions
$120,932
Change in Net Assets
$-274,356

Audited Revenue Reconciliation

Revenue per Audited Statements
$276,804
Revenue Not Reported on Form 990
$41,659
Total Revenue per Audited Statements
$318,463
Total Revenue per Form 990
$276,804
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$428,225
Other Expenses$122,935
Total Fundraising Expense$9,385
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$428,225--$428,225
Fees for Services Accounting-$66,800-$66,800
Fees for Services Legal-$20,000-$20,000
Office Expenses-$3,523$8,057$11,580
Interest-$9,338-$9,338
Other Expenses-$6,470-$6,470
Insurance-$6,091-$6,091
Occupancy-$1,328$1,328$2,656
Total Functional Expenses$428,225$113,550$9,385$551,160

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$551,160
Total Expenses per Audited Statements$551,160
Total Expenses per Form 990$551,160
International Activity

International Summary

Offices
1
Spending
$428,225

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
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Middle East and North AfricaGrantmakingGrantmaking1-$428,225
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
Due To/from Ka Jordan$715,695
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

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, Page 6, Part VI, Line 12C

Each trustee, principal officer and member of the 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 organizaitons federal tax exemption, the organizations must engage primarily in activities which accomplish one or more of the organizations tax exempt purposes.

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

The organization uses the approval by the board or compensation committee to establish the compensation of the organization's top management official, as applicable.

Form 990, Page 6, Part VI, Line 19

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
Phone
6463834976
Address
245 PARK AVENUE 39TH FLOOR, NEW YORK, NY 10167

Signing Officer

Name
Randa Qunsol
Title
Executive Director
Phone
6463834976
Signed
2022-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ali Kolaghassi
Formed
2005
Legal Domicile
Ny
Voting Board Members
16
Independent Board Members
16
Employees
0

Preparer

Firm
Deleon & Stang Cpas and Advisors
Address
100 LAKEFOREST BLVD STE 650, GAITHERSBURG, MD 20877-2609
Preparer
Ryan Crabbs CPA
Phone
3019489825
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.

Form 990, Part V, Line 4B

JORDAN

Financial Statement Notes

Schedule D, Page 3, Part X

King's academy, inc. Is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes has been reflected in the organization's financial statements. King's academy, inc. Believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. Federal and state tax returns may be subject to audit for three years after filing, hence king's academy, inc.'s tax returns for 2017 onward are open to examination.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8CHAIRMAN & P
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt14LEGAL COUNSE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17EXECUTIVE DI
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IRS990/MissionDesc0KING'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.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0KING'S ACADEMY, INC. IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. KING'S ACADEMY, INC. BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. FEDERAL AND STATE TAX RETURNS MAY BE SUBJECT TO AUDIT FOR THREE YEARS AFTER FILING, HENCE KING'S ACADEMY, INC.'S TAX RETURNS FOR 2017 ONWARD ARE OPEN TO EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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Document Assets

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Filings

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