Civic Intelligence

Beacon Academy Inc.

990 • Fiscal year 2021 • EIN 73-1710051

Jul 01, 2020 to Jun 30, 2021 • Filed on Feb 09, 2022

814 South StreetBoston, MA 02131

(617) 423-2266

Siviq Scores

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

Liabilities / Assets

24th percentile

0.03x

Higher debt load relative to assets than 24% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

37th percentile

0.13x

Higher debt load relative to revenue than 37% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

85th percentile

48%

Higher net margin than 85% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

57th percentile

$191,763

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

79th percentile

26%

Faster asset growth than 79% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

4th percentile

-49%

Faster revenue growth than 4% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$18,410,775

Up $3,819,361 (+26%) from 2020

Net Assets

Up

$17,880,644

Up $3,409,229 (+24%) from 2020

Liabilities

Up

$530,131

Up $410,132 (+342%) from 2020

Revenue

Down

$4,161,339

Down $3,961,816 (-49%) from 2020

Expenses

Down

$2,183,603

Down $175,898 (-7.5%) from 2020

Net Income

Down

$1,977,736

Down $3,785,918 (-66%) from 2020

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $1,025,575Liabilities 2010: $28,923Net Assets 2010: $996,6522010Assets 2011: $1,484,857Liabilities 2011: $52,574Net Assets 2011: $1,432,2832011Assets 2012: $1,595,141Liabilities 2012: $44,036Net Assets 2012: $1,551,1052012Assets 2013: $2,057,786Liabilities 2013: $39,048Net Assets 2013: $2,018,7382013Assets 2014: $2,404,097Liabilities 2014: $40,231Net Assets 2014: $2,363,8662014Assets 2015: $4,399,495Liabilities 2015: $45,880Net Assets 2015: $4,353,6152015Assets 2016: $5,064,401Liabilities 2016: $59,486Net Assets 2016: $5,004,9152016Assets 2017: $5,790,221Liabilities 2017: $22,701Net Assets 2017: $5,767,5202017Assets 2018: $6,773,695Liabilities 2018: $6,602Net Assets 2018: $6,767,0932018Assets 2019: $8,701,504Liabilities 2019: $39,642Net Assets 2019: $8,661,8622019Assets 2020: $14,591,414Liabilities 2020: $119,999Net Assets 2020: $14,471,4152020Assets 2021: $18,410,775Liabilities 2021: $530,131Net Assets 2021: $17,880,6442021Assets 2022: $16,262,278Liabilities 2022: $145,372Net Assets 2022: $16,116,9062022Assets 2023: $16,438,161Liabilities 2023: $227,761Net Assets 2023: $16,210,4002023Assets 2024: $17,296,406Liabilities 2024: $96,777Net Assets 2024: $17,199,6292024Assets 2025: $17,845,976Liabilities 2025: $91,047Net Assets 2025: $17,754,9292025

Highlighted filing

2021

Assets$18,410,775
Liabilities$530,131
Net Assets$17,880,644

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $818,0352010Revenue 2011: $1,307,111Expenses 2011: $871,920Net Income 2011: $435,1912011Expenses 2012: $938,5502012Revenue 2013: $1,438,796Expenses 2013: $957,393Net Income 2013: $481,4032013Revenue 2014: $1,327,448Expenses 2014: $1,052,422Net Income 2014: $275,0262014Revenue 2015: $3,377,030Expenses 2015: $1,275,362Net Income 2015: $2,101,6682015Revenue 2016: $1,982,501Expenses 2016: $1,381,636Net Income 2016: $600,8652016Revenue 2017: $2,281,343Expenses 2017: $1,710,486Net Income 2017: $570,8572017Revenue 2018: $2,774,079Expenses 2018: $1,867,733Net Income 2018: $906,3462018Revenue 2019: $3,745,859Expenses 2019: $1,893,827Net Income 2019: $1,852,0322019Revenue 2020: $8,123,155Expenses 2020: $2,359,501Net Income 2020: $5,763,6542020Revenue 2021: $4,161,339Expenses 2021: $2,183,603Net Income 2021: $1,977,7362021Revenue 2022: $1,203,429Expenses 2022: $2,721,643Net Income 2022: -$1,518,2142022Revenue 2023: $2,404,954Expenses 2023: $2,846,121Net Income 2023: -$441,1672023Revenue 2024: $3,004,278Expenses 2024: $3,012,120Net Income 2024: -$7,8422024Revenue 2025: $4,615,940Expenses 2025: $3,377,105Net Income 2025: $1,238,8352025

Highlighted filing

2021

Revenue$4,161,339
Expenses$2,183,603
Net Income$1,977,736
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 9, 2022
Return Version
2020v4.1
Gross Receipts
$4,885,588
Mission and Program Overview

Mission

Beacon academy closes the opportunity gap for a group of greater boston's determined and inquisitive students. Through education and advocacy, our community supports students as they develop and embrace their identities and build lives of agency and impact.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,597,660$7,548,916▲ $1,951,256
Land, Buildings, and Equipment, Net$6,302$3,985,470▲ $3,979,168
Savings and Temporary Cash Investments$3,662,275$3,070,703▼ $591,572
Pledges and Grants Receivable$3,766,504$2,586,439▼ $1,180,065
Cash and Non-Interest-Bearing Accounts$1,498,852$1,142,418▼ $356,434
Accounts Receivable$0$50,602▲ $50,602
Prepaid Expenses and Deferred Charges$44,773$26,227▼ $18,546
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$14,591,414$18,410,775▲ $3,819,361
Other Assets Total$15,048$0▼ $15,048
Liabilities
Accounts Payable and Accrued Expenses$119,999$530,131▲ $410,132
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$119,999$530,131▲ $410,132
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,045,218$10,136,544▲ $2,091,326
Net Assets With Donor Restrictions$6,426,197$7,744,100▲ $1,317,903
Total Net Assets Fund Balance$14,471,415$17,880,644▲ $3,409,229
Total Liabilities and Net Assets / Fund Balance$14,591,414$18,410,775▲ $3,819,361

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,275,113-$2,275,113
Other Land Buildings$1,706,090-$1,706,090
Equipment$4,267$86,223$90,490

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$6,480,072$963,849▲ $1,459,946$235,125$8,668,742
2019$5,268,385$883,216▲ $140,402$171,931$6,120,072
2018$4,603,601$942,407▲ $233,891$151,514$5,628,385
2017$3,605,347$755,250▲ $243,004-$4,603,601
2016$2,482,166$912,421▲ $302,499$91,739$3,605,347
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cynthia LabaFounder & Head of SchoolFT$173,047$18,716$191,763
Marsha FeinbergFounder & SecretaryFT$173,047$14,925$187,972
Sarah SmithDean of StudentsFT$94,864$14,388$109,252
Eric NettDirector of EnrollmentFT$94,864$11,713$106,577
Keely JonesDirector of OperationsFT$94,864$11,713$106,577

Board Members and Trustees

NameTitle
Carolyn Mcclintock PeterChair Emerita
Amy MccarthyChair, Director
Kevin ParkeVice-chair , Director
Allyce NajimyDirector
Ann RyanDirector
Beth StonebrakerDirector
Cathy CormanDirector
Daphne Principe-griffinDirector
Deedie BouscarenDirector
ELAINE O'CONNELLDirector
Ellie LoughlinDirector
Georgia FeldmanDirector
Gretchen WarlandDirector
Janet BerkeleyDirector
Jen DolinsDirector
Jessica LutzkerDirector
Juan RodriguezDirector
Julie MckennaDirector
Kyle UmembaDirector
Lisa DiadamoDirector
Michael RubensteinDirector
Priscilla CohenDirector
Rebecca Mailer-howatDirector
Tasha OdemwingieDirector
Tony BrookeDirector
Victoria MunroeDirector
Katherine FisherDirector, Clerk
Anna AfeyanTreasurer , Director
Revenue and Support

Revenue Composition

Contributions and Grants
$3,853,796
Program Service Revenue
$1,048
Investment Income
$306,495
Other Revenue
$0
All Other Contributions
$3,266,865
Change in Net Assets
$1,977,736

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded8$136,425Fair Market Value
Other Non Cash Contri Table1$89,500Fair Market Value
Total Noncash Contributions9$225,925-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,161,339
Revenue Not Reported on Form 990
$1,520,993
Total Revenue per Audited Statements
$5,682,332
Total Revenue per Form 990
$4,161,339
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,327,280
Other Expenses$856,323
Total Fundraising Expense$85,977
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$720,768$75,126$42,337$838,231
Current Officers, Directors, Trustees, and Key Employees$266,188$27,745$15,636$309,569
Fees for Services Other$58,972$74,843$8$133,823
Office Expenses$53,247$57,604$314$111,165
Payroll Taxes$80,991$13,941$4,647$99,579
Other Employee Benefits$62,361$10,734$3,579$76,674
Fees for Services Accounting$23,569$29,912$4$53,485
Occupancy$40,667$7,000$2,333$50,000
Fees for Services Legal$8,098$10,279-$18,377
Insurance-$15,384-$15,384
Information Technology$8,550$6,148-$14,698
Other Expenses$9,000$3,233$16,677$12,233
Travel$5,087$876$292$6,255
Pension Plan Contributions$2,625$452$150$3,227
Depreciation Depletion-$2,035-$2,035
Advertising-$1,806-$1,806
Total Functional Expenses$1,760,508$337,118$85,977$2,183,603

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,273,103
Expenses per Audited Statements$2,183,603
Total Expenses per Form 990$2,183,603
Expenses Not Reported on Form 990$89,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$13,441
Fundraising Gross Income$13,441
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spr Celebration$600,372$13,441$13,441$0
Total Events$600,372$13,441$13,441-
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
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
Yes
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, Section A, Line 8B:

There are no other committees with authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11A:

Each member of the board of directors is provided with a copy of Form 990. Form 990 is reviewed by the head of school and the treasurer prior to filing.

Form 990, Part VI, Section B, Line 12C:

The Organization requires employees and board members to disclose actual or possible financial conflicts of interest when they arise. The Organization then takes the appropriate steps to resolve the conflict.

Form 990, Part VI, Section B, Line 15:

The head of school's compensation is determined after a review and evaluation by a subcommittee of the board of directors. Other employees are managed by the head of school and the board of directors approves final compensation of employees and officers.

Form 990, Part VI, Section C, Line 19:

The Organization makes its governing documents, conflict of interest policy and financial statements available upon request. The Organization also has its annual report and other information available via Guidestar.org

Filing and Contact Details

Filer

Filer Name
Beacon Academy Inc
EIN
73-1710051
In Care Of
% CHARLES E CARTER
Phone
6174232266
Address
814 South Street, BOSTON, MA 02131

Signing Officer

Name
Charles E Carter
Title
Head of School
Phone
6174232266
Signed
2022-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles E Carter
Formed
2005
Legal Domicile
Ma
Voting Board Members
30
Independent Board Members
28
Employees
17
Volunteers
20

Preparer

Firm
Withumsmithbrownpc
Address
155 SEAPORT BOULEVARD, BOSTON, MA 02210
Preparer
James D Browne
Phone
6172273333
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1, Description of Organization Mission

Beacon Academy provides a transformational year between 8th & 9th grades to promising, motivated and hard-working students from Boston and surrounding urban areas. Inspired by a challenging curriculum and stimulating co-curricular experiences, students learn vital academic skills and develop habits of mind that empower them to change the trajectory of their lives. They emerge as active learners with increased confidence,critical thinking skills, and broader vision, prepared to thrive at competitive, independent and public exam high schools that share our commitment to their success.

Form 990, Part III, Line 1, Description of Organization Mission

Beacon Academy identifies, confronts and bridges the achievement gap between Boston's low-income urban students and their more affluent peers. Our mission is to change the trajectory of our students' lives through access to excellent educational opportunities. We provide an extra 14 months of full-time school for promising and motivated urban students who have completed the 8th grade, but who are underprepared for challenging independent high schools. Beacon has three essential components: our 14 month school, our alumni program and our strategic outreach to share best practices in educating urban youth. Beacon academy is the only school of its kind in the country. Our students arrive at Beacon Academy dramatically undereducated and underprepared. Many have never written formal essays and are missing key math skills and other basic knowledge. This lack of quality preparation perpetuates the cycle of poverty that characterizes too much of urban Boston and surrounding areas. Northeastern University's Report, "Getting to the Finish Line" states that only 7.5% of students of color from non-exam public schools will complete a two or four year degree within seven years of entering college. Further, the few who do move on to higher education are not adequately prepared and are often placed in remedial college classes. In contrast: 99% of our first 16 classes have graduated from high school. 84% of our college-age graduates are enrolled in college. 80% of Beacon's founding class is slated to graduate from four-year colleges within six years of starting. Collectively, our students have earned millions of dollars in high school and college scholarships. Beacon mitigates the crisis in education among economically disadvantaged youths through our intense academic program and our continued investment in our graduates.

Financial Statement Notes

Part X, Line 2 - Fin 48 Statement

The Organization is a non-profit organization that is exempt from income taxes under Section 501(C)(3) of the Internal Code. Accordingly, no provision for income taxes has been reflected in the Organization's financial statements. Under U.S. GAAP, the Organization must identify, recognize, measure and disclose in its financial statements the effects of any uncertain tax reporting positions that the Organization has taken or expects to take if it is possible that such positions would not be fully sustained upon review by the tax authorities. At June 30, 2021, the Organization had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. There were no tax related interest or tax penalties included in the financial statements.

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IRS990/Desc0The school- Over Beacon Academy's intensive 14 months, 8+ hour school days include intense and high level academic instruction, co-curricular programming, study halls and then 2-3 hours of homework. Beacon starts in July with five weeks of summer school, continues through the academic year, and a second summer of individually tailored academic and enrichment programs. Experienced teachers, small classes and an engaging, rigorous curriculum ensure that students gain at least two years of learning in one year to prepare them for success in the competitive secondary schools. In addition to intensive math, english and facing history courses, students take research and advocacy and mini courses in finance, french and health. Beacon students also participate in community service learning, nutrition and sports education and activities designed to increase their cultural fluency.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0FOUNDER & HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt1FOUNDER & SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2DEAN OF STUDENTS
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIR. OF ENROLLMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIR. OF OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIR, DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE-CHAIR , DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER , DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR, CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25CHAIR EMERITA
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$17.8$0.09$17.8$4.62$3.38$1.24
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.3$0.10$17.2$3.00$3.01$0.01
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.4$0.23$16.2$2.40$2.85$0.44
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.3$0.15$16.1$1.20$2.72$1.52
2021Detailed filing. Detailed filing data is available for this year.$18.4$0.53$17.9$4.16$2.18$1.98
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.6$0.12$14.5$8.12$2.36$5.76
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.70$0.04$8.66$3.75$1.89$1.85
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.77$0.01$6.77$2.77$1.87$0.91
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.79$0.02$5.77$2.28$1.71$0.57
2016Detailed filing. Detailed filing data is available for this year.$5.06$0.06$5.00$1.98$1.38$0.60
2015Detailed filing. Detailed filing data is available for this year.$4.40$0.05$4.35$3.38$1.28$2.10
2014Detailed filing. Detailed filing data is available for this year.$2.40$0.04$2.36$1.33$1.05$0.28
2013Summary only. Only limited summary data is available for this year.$2.06$0.04$2.02$1.44$0.96$0.48
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.60$0.04$1.55$0.94
2011Summary only. Only limited summary data is available for this year.$1.48$0.05$1.43$1.31$0.87$0.44
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.03$1.00$0.82
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • $10M-$25M nonprofits