Civic Intelligence

Kipp Enc Public Schools

990 • Fiscal year 2022 • EIN 74-2991314

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 19, 2023

Organization ProfileN/A
320 Pleasant Hill RoadGaston, NC 27832

(252) 308-6932

Siviq Scores

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

Liabilities / Assets

77th percentile

0.72x

Higher debt load relative to assets than 77% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

62nd percentile

0.73x

Higher debt load relative to revenue than 62% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Net Margin

64th percentile

15%

Higher net margin than 64% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

48th percentile

$208,492

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2022 filings • NTEE B • $25M-$50M nonprofits • Source year 2022

Asset Growth

64th percentile

6.0%

Faster asset growth than 64% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

19th percentile

-14%

Faster revenue growth than 19% of similar nonprofits.

2022 filings • NTEE B • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$38,149,898

Up $2,156,323 (+6.0%) from 2021

Net Assets

Up

$10,768,179

Up $5,888,306 (+121%) from 2021

Liabilities

Down

$27,381,719

Down $3,731,983 (-12%) from 2021

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin64th percentile

Revenue

Down

$37,517,125

Down $5,893,136 (-14%) from 2021

Expenses

Up

$31,774,066

Up $6,771,195 (+27%) from 2021

Net Income

Down

$5,743,059

Down $12,664,331 (-69%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$60M$40M$20M$0-$20MAssets 2011: $9,307,585Liabilities 2011: $7,343,768Net Assets 2011: $1,963,8172011Assets 2012: $10,022,634Liabilities 2012: $7,183,875Net Assets 2012: $2,838,7592012Assets 2013: $14,942,817Liabilities 2013: $11,819,622Net Assets 2013: $3,123,1952013Assets 2014: $15,940,377Liabilities 2014: $12,351,099Net Assets 2014: $3,589,2782014Assets 2015: $18,187,723Liabilities 2015: $13,020,433Net Assets 2015: $5,167,2902015Assets 2016: $26,417,727Liabilities 2016: $19,760,104Net Assets 2016: $6,657,6232016Assets 2017: $33,779,860Liabilities 2017: $26,758,358Net Assets 2017: $7,021,5022017Assets 2018: $33,384,816Liabilities 2018: $52,092,860Net Assets 2018: -$18,708,0442018Assets 2019: $38,547,620Liabilities 2019: $51,740,086Net Assets 2019: -$13,192,4662019Assets 2020: $41,136,404Liabilities 2020: $54,663,921Net Assets 2020: -$13,527,5172020Assets 2021: $35,993,575Liabilities 2021: $31,113,702Net Assets 2021: $4,879,8732021Assets 2022: $38,149,898Liabilities 2022: $27,381,719Net Assets 2022: $10,768,1792022Assets 2023: $36,320,408Liabilities 2023: $24,155,375Net Assets 2023: $12,165,0332023Assets 2024: $30,661,988Liabilities 2024: $18,428,912Net Assets 2024: $12,233,0762024

Highlighted filing

2022

Assets$38,149,898
Liabilities$27,381,719
Net Assets$10,768,179
Open 2022 Filing

Operations Trend

Revenue Growth19th percentile

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

$60M$40M$20M$0-$20MRevenue 2011: $6,869,292Expenses 2011: $6,625,361Net Income 2011: $243,9312011Revenue 2012: $7,266,725Expenses 2012: $6,390,628Net Income 2012: $876,0972012Revenue 2013: $7,757,039Expenses 2013: $7,482,163Net Income 2013: $274,8762013Revenue 2014: $9,201,809Expenses 2014: $8,758,360Net Income 2014: $443,4492014Revenue 2015: $13,756,193Expenses 2015: $11,195,330Net Income 2015: $2,560,8632015Revenue 2016: $17,704,669Expenses 2016: $15,871,605Net Income 2016: $1,833,0642016Revenue 2017: $18,741,283Expenses 2017: $18,392,435Net Income 2017: $348,8482017Revenue 2018: $22,759,160Expenses 2018: $24,848,694Net Income 2018: -$2,089,5342018Revenue 2019: $24,215,626Expenses 2019: $26,164,825Net Income 2019: -$1,949,1992019Revenue 2020: $25,545,092Expenses 2020: $25,677,336Net Income 2020: -$132,2442020Revenue 2021: $43,410,261Expenses 2021: $25,002,871Net Income 2021: $18,407,3902021Revenue 2022: $37,517,125Expenses 2022: $31,774,066Net Income 2022: $5,743,0592022Revenue 2023: $36,021,378Expenses 2023: $34,832,473Net Income 2023: $1,188,9052023Revenue 2024: $35,337,576Expenses 2024: $35,356,294Net Income 2024: -$18,7182024

Highlighted filing

2022

Revenue$37,517,125
Expenses$31,774,066
Net Income$5,743,059
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 19, 2023
Return Version
2021v4.1
Gross Receipts
$37,517,125
Mission and Program Overview

Mission

Operation of north carolina public charter schools.

Operation of North Carolina Public Charter Schools

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$27,843,635$26,110,562▼ $1,733,073
Cash and Non-Interest-Bearing Accounts$7,326,845$8,076,237▲ $749,392
Accounts Receivable$220,737$2,228,167▲ $2,007,430
Savings and Temporary Cash Investments$334,981$1,434,337▲ $1,099,356
Prepaid Expenses and Deferred Charges$1,627$34,845▲ $33,218
Total Assets$35,993,575$38,149,898▲ $2,156,323
Other Assets Total$265,750$265,750→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$30,691,828$26,270,161▼ $4,421,667
Accounts Payable and Accrued Expenses$382,374$1,111,558▲ $729,184
Deferred Revenue$39,500--
Other Liabilities$0$0→ $0
Total Liabilities$31,113,702$27,381,719▼ $3,731,983
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,763,029$6,813,871▲ $5,050,842
Net Assets With Donor Restrictions$3,116,844$3,954,308▲ $837,464
Total Net Assets Fund Balance$4,879,873$10,768,179▲ $5,888,306
Total Liabilities and Net Assets / Fund Balance$35,993,575$38,149,898▲ $2,156,323

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$22,508,643$8,832,535$31,341,178
Equipment$1,363,475$4,521,910$5,885,385
Leasehold Improvements$1,315,059$675,371$1,990,430
Land$923,385-$923,385
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-CEOFT$109,000$99,492$208,492
---$208,492-$208,492
-School Director - HalifaxFT$82,064-$82,064
-School Director - GastonFT$75,086-$75,086

Board Members and Trustees

NameTitle
-Chair
-School Director - Durham
-Member

Highest Paid Contractors

ContractorServicesLocationCompensation
-Educational consulting307 7th Ave 9th Floor, New York, NY 10001$160,705
Bostock EducationConsulting1034 Bay Street, Santa Monica, CA 90405$116,290
Charter Success PartnersFinancial ServicesPO Box 71092, Durham, NC 27704$105,697
Igneous SolutionsLicensure consulting8 Willard Place Unit B, Montclair, NJ 07042$103,075
Revenue and Support

Revenue Composition

Contributions and Grants
$34,110,794
Program Service Revenue
$240,095
Investment Income
$6,924
Other Revenue
$3,159,312
All Other Contributions
$475,923
Change in Net Assets
$5,743,059

Audited Revenue Reconciliation

Revenue per Audited Statements
$37,517,125
Total Revenue per Audited Statements
$37,517,125
Total Revenue per Form 990
$37,517,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$15,948,399
Other Expenses$15,825,667
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,028,063$2,532,144$0$12,560,207
Depreciation Depletion$1,198,810$908,010$0$2,106,820
Other Employee Benefits$1,418,136$183,814$0$1,601,950
All Other Expenses$278,329$813,280$0$1,091,609
Payroll Taxes$844,991$206,441$0$1,051,432
Interest$0$884,015$0$884,015
Current Officers, Directors, Trustees, and Key Employees$571,093$0$0$571,093
Office Expenses$365,266$165,494$0$530,760
Occupancy$0$462,938$0$462,938
Other Expenses$0$373,706$0$373,706
Conferences and Meetings$200,697$0$0$200,697
Insurance$0$171,058$0$171,058
Pension Plan Contributions$147,269$16,448$0$163,717
Travel$34,077$0$0$34,077
Advertising$0$27,177$0$27,177
Fees for Services Accounting$0$3,390$0$3,390
Total Functional Expenses$17,180,484$14,593,582$0$31,774,066

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$31,774,066
Total Expenses per Audited Statements$31,774,066
Total Expenses per Form 990$31,774,066
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
Net pension liability$0
Net OPEB liability$0
Pension deferrals$0
OPEB deferrals$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Filing and Contact Details

Filer

Filer Name
Kipp Enc Public Schools
EIN
74-2991314
Phone
2523086932
Address
320 PLEASANT HILL ROAD, GASTON, NC 27832

Signing Officer

Name
Michael Stimpfel
Title
CFO
Phone
2523086932
Signed
2023-03-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Stimpfel
Formed
2001
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
358
Volunteers
100

Preparer

Firm
Darrell L Keller CPA PA
Address
PO Box 1028, Kings Mountain, NC 28086
Preparer
Darrell L Keller
Phone
7047390771
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“990 Reviewed by board and finance committee prior to filing”

Pt VI, Line 12C

“Board reviews conflict of interest policy annually. Any conflicts or potential conflicts of interest are reviewed by the board. Board members recuse themselves from any discussion/decision that may involve a conflict of interest”

Pt VI, Line 15A

“Compensation of top management officials is approved by the board and is based on comparability data and performance.”

Pt VI, Line 19

“Governing documents, school policies, and financial statements are available for viewing by the public at the organization's office, upon request.”

Pt XI

“Restatement for correction of prior auditor's balances and capital expenditures $13,192,466”

Pt VI, Line 15B

“Compensation of key employees is approved by board and based on comparability data and performance.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt12School Dir - Durham
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16670
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2254140
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$38,149,898
Liabilities
$27,381,719
Net assets
$10,768,179
Revenue
$37,517,125
Expenses
$31,774,066
Net income
$5,743,059
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.7$18.4$12.2$35.3$35.4$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.3$24.2$12.2$36.0$34.8$1.19
2022Detailed filing. Detailed filing data is available for this year.$38.1$27.4$10.8$37.5$31.8$5.74
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.0$31.1$4.88$43.4$25.0$18.4
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.1$54.7$13.5$25.5$25.7$0.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.5$51.7$13.2$24.2$26.2$1.95
2018Detailed filing. Detailed filing data is available for this year.$33.4$52.1$18.7$22.8$24.8$2.09
2017Detailed filing. Detailed filing data is available for this year.$33.8$26.8$7.02$18.7$18.4$0.35
2016Detailed filing. Detailed filing data is available for this year.$26.4$19.8$6.66$17.7$15.9$1.83
2015Summary only. Only limited summary data is available for this year.$18.2$13.0$5.17$13.8$11.2$2.56
2014Summary only. Only limited summary data is available for this year.$15.9$12.4$3.59$9.20$8.76$0.44
2013Summary only. Only limited summary data is available for this year.$14.9$11.8$3.12$7.76$7.48$0.27
2012Summary only. Only limited summary data is available for this year.$10.0$7.18$2.84$7.27$6.39$0.88
2011Summary only. Only limited summary data is available for this year.$9.31$7.34$1.96$6.87$6.63$0.24