Progressive Equity Charter Inc.

990 • Fiscal year 2015 • EIN 80-0496070

Jul 01, 2014 to Jun 30, 2015 • Filed on Apr 19, 2016

Organization Profile N/A

1000 42nd StreetOakland, CA 94608

(510) 655-0540

Siviq Scores

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

0.59x

Higher debt load relative to assets than 82% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

8.43x

Higher debt load relative to revenue than 97% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

77%

Higher net margin than 97% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

No value available

This filing does not contain officer compensation rows.

Source year 2015

1.2%

Faster asset growth than 52% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

-33%

Faster revenue growth than 9% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet

Liabilities / Assets82nd percentile

Assets

$4,717,198

Up $56,198 (+1.2%) from 2014

Net Assets

$1,950,351

Up $253,486 (+15%) from 2014

Liabilities

Down

$2,766,847

Down $197,288 (-6.7%) from 2014

Revenue And Expenses

Liabilities / Revenue97th percentile Net Margin97th percentile

Revenue

Down

$328,200

Down $160,601 (-33%) from 2014

Expenses

Down

$74,714

Down $141,205 (-65%) from 2014

Net Income

Down

$253,486

Down $19,396 (-7.1%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

Highlighted filing

2015

Assets$4,717,198

Liabilities$2,766,847

Net Assets$1,950,351

Open 2015 Filing

Operations Trend

Revenue Growth9th percentile

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

Highlighted filing

2015

Revenue$328,200

Expenses$74,714

Net Income$253,486

Open 2015 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2014 to Jun 30, 2015
Signed: Apr 19, 2016
Return Version: 2014v6.0
Gross Receipts: $328,200

Mission and Program Overview

Mission

The mission and primary purposes of the corporation are to facilitate the development of charter schools; to lease, own, manage, and maintain an educational institution; to provide charter school facilities and operational and other support to charter schools; to assist philanthropists and foundations in accelerating the growth of high quality charter schools; and to provide and otherwise obtain or assist in obtaining charter school financing. Additionally, the corporation may engage in any activities that are reasonably related to or in furtherance of its stated charitable and public purposes, or in any other charitable activities.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Land, Buildings, and Equipment, Net	$4,490,801	$4,416,897	▼ $73,904
Cash and Non-Interest-Bearing Accounts	$170,199	$300,301	▲ $130,102
Total Assets	$4,661,000	$4,717,198	▲ $56,198
Liabilities
Mortgage Notes Payable Secured by Investment Property	$2,964,115	$2,766,827	▼ $197,288
Accounts Payable and Accrued Expenses	$20	$20	→ $0
Total Liabilities	$2,964,135	$2,766,847	▼ $197,288
Net Assets / Fund Balance
Unrestricted Net Assets	$1,696,865	$1,950,351	▲ $253,486
Total Net Assets Fund Balance	$1,696,865	$1,950,351	▲ $253,486
Total Liabilities and Net Assets / Fund Balance	$4,661,000	$4,717,198	▲ $56,198

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$2,216,897	$398,069	$2,614,966
Land	$2,200,000	-	$2,200,000

Compensation and Service Providers

Top Officer PayScore unavailable

Board Members and Trustees

Name	Title
Richard Trafford-owen	President
Kristin Blair Hull	Director
Deborah J Owen	Secretary
Adam D Kaye	Treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $0
Program Service Revenue: $324,000
Investment Income: $0
Other Revenue: $4,200
Change in Net Assets: $253,486

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$74,714
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Salaries, Compensation, and Employee Benefits	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Depreciation Depletion	$73,904	-	-	$73,904
Fees for Services Accounting	$800	-	-	$800
Fees for Services Other	$10	-	-	$10
Total Functional Expenses	$74,714	$0	$0	$74,714

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
Professional Fundraising Fees	$0

Political and Lobbying Activity

Political campaign activity: No
Lobbying activity: No
Subject to proxy tax: No

Related Organizations and Partnerships

Related Tax-Exempt Organizations

Organization	Location	Activity	Code	Public Charity	Controlled
North Oakland Community Charter	Oakland, CA	Charter	501c3	2	No

Disregarded Entities

Entity	Location	Activity	Income	Assets	Controller
1000 42nd Street LLC	Oakland, CA	Property	$324,000	$4,602,584	Na

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: 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, Page 6, Part VI, Line 11B

“A copy of the form 990 is presented to the board for comments and/or approval prior to filing the form.”

Form 990, Page 6, Part VI, Line 12C

“Officers and directors are required to disclose any conflicts of interest on an annual basis.”

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

“Compensation arrangements are approved in advance of paying compensation. Compensation date and terms are documented in writing. Comparable compensation by similar organizations, current compensation surveys compiled by independent firms, or actual written offers from similarly situated organizations are considered when determining compensation. The organization does not currently have any compensation arrangements.”

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

“Compensation arrangements are approved in advance of paying compensation. Compensation date and terms are documented in writing. Comparable compensation by similar organizations, current compensation surveys compiled by independent firms, or actual written offers from similarly situated organizations are considered when determining compensation. The organization does not currently have any compensation arrangements.”

Form 990, Page 6, Part VI, Line 19

“Documents are readily available to the public upon request.”

Filing and Contact Details

Filer

Filer Name: Progressive Equity Charter Inc
EIN: 80-0496070
Phone: 5106550540
Address: 1000 42ND STREET, OAKLAND, CA 94608

Signing Officer

Name: Richard Trafford-owen
Title: Director
Phone: 5106550540
Signed: 2016-04-19
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Richard Trafford-owen
Formed: 2009
Legal Domicile: CA
Voting Board Members: 4
Independent Board Members: 4
Employees: 0

Preparer

Firm: Vicenti Lloyd & Stutzman
Address: 2210 E ROUTE 66 STE 100, GLENDORA, CA 91740-4676
Preparer: Wade Mcmullen CPA
Phone: 6268577300

Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission and primary purposes of the corporation are to facilitate the development of charter schools; to lease, own, manage, and maintain an educational institution; to provide charter school facilities and operational and other support to charter schools; to assist philanthropists and foundations in accelerating the growth of high quality charter schools; and to provide and otherwise obtain or assist in obtaining charter school financing. Additionally, the corporation may engage in any activities that are reasonably related to or in furtherance of its stated charitable and public purposes, or in any other charitable activities.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt	0	NORTH OAKLAND COMMUNITY CHARTER SCHOOL
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	THE MISSION AND PRIMARY PURPOSES OF THE CORPORATION ARE TO FACILITATE THE DEVELOPMENT OF CHARTER SCHOOLS; TO LEASE, OWN, MANAGE, AND MAINTAIN AN EDUCATIONAL INSTITUTION; TO PROVIDE CHARTER SCHOOL FACILITIES AND OPERATIONAL AND OTHER SUPPORT TO CHARTER SCHOOLS; TO ASSIST PHILANTHROPISTS AND FOUNDATIONS IN ACCELERATING THE GROWTH OF HIGH QUALITY CHARTER SCHOOLS; AND TO PROVIDE AND OTHERWISE OBTAIN OR ASSIST IN OBTAINING CHARTER SCHOOL FINANCING. ADDITIONALLY, THE CORPORATION MAY ENGAGE IN ANY ACTIVITIES THAT ARE REASONABLY RELATED TO OR IN FURTHERANCE OF ITS STATED CHARITABLE AND PUBLIC PURPOSES, OR IN ANY OTHER CHARITABLE ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	A COPY OF THE FORM 990 IS PRESENTED TO THE BOARD FOR COMMENTS AND/OR APPROVAL PRIOR TO FILING THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	COMPENSATION ARRANGEMENTS ARE APPROVED IN ADVANCE OF PAYING COMPENSATION. COMPENSATION DATE AND TERMS ARE DOCUMENTED IN WRITING. COMPARABLE COMPENSATION BY SIMILAR ORGANIZATIONS, CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS, OR ACTUAL WRITTEN OFFERS FROM SIMILARLY SITUATED ORGANIZATIONS ARE CONSIDERED WHEN DETERMINING COMPENSATION. THE ORGANIZATION DOES NOT CURRENTLY HAVE ANY COMPENSATION ARRANGEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	4	COMPENSATION ARRANGEMENTS ARE APPROVED IN ADVANCE OF PAYING COMPENSATION. COMPENSATION DATE AND TERMS ARE DOCUMENTED IN WRITING. COMPARABLE COMPENSATION BY SIMILAR ORGANIZATIONS, CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS, OR ACTUAL WRITTEN OFFERS FROM SIMILARLY SITUATED ORGANIZATIONS ARE CONSIDERED WHEN DETERMINING COMPENSATION. THE ORGANIZATION DOES NOT CURRENTLY HAVE ANY COMPENSATION ARRANGEMENTS.
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IRS990ScheduleR/AssetSaleToOtherOrgInd	0	false
IRS990ScheduleR/DivRelatedOrganizationInd	0	false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd	0	false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd	0	false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt	0	NA
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt	0	1000 42ND STREET LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN	0	800496070
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt	0	4602584
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd	0	CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt	0	PROPERTY
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt	0	324000
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt	0	1000 42ND STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm	0	OAKLAND
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd	0	CA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd	0	94608
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	0	false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt	0	NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt	0	NORTH OAKLAND COMMUNITY CHARTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN	0	943340838
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt	0	501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd	0	CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt	0	CHARTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt	0	2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt	0	1000 42ND STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm	0	OAKLAND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd	0	CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd	0	94608
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd	0	false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd	0	false
IRS990ScheduleR/PaidEmployeesSharingInd	0	false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd	0	false
IRS990ScheduleR/PerformOfServicesForOthOrgInd	0	false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd	0	false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd	0	false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd	0	false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd	0	true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd	0	false
IRS990ScheduleR/SharingOfFacilitiesInd	0	false
IRS990ScheduleR/TransferFromOtherOrgInd	0	false
IRS990ScheduleR/TransferToOtherOrgInd	0	false
IRS990/SchoolOperatingInd	0	false
IRS990/SignificantChangeInd	0	false
IRS990/SignificantNewProgramSrvcInd	0	false
IRS990/SubjectToProxyTaxInd	0	false
IRS990/TaxablePartyNotificationInd	0	false
IRS990/TaxExemptBondsInd	0	false
IRS990/TempOrPermanentEndowmentsInd	0	false
IRS990/TerminateOperationsInd	0	false
IRS990/TotalAssetsBOYAmt	0	4661000
IRS990/TotalAssetsEOYAmt	0	4717198
IRS990/TotalAssetsGrp/BOYAmt	0	4661000
IRS990/TotalAssetsGrp/EOYAmt	0	4717198
IRS990/TotalCompGreaterThan150KInd	0	false
IRS990/TotalEmployeeCnt	0	0
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt	0	0
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt	0	0
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt	0	74714
IRS990/TotalFunctionalExpensesGrp/TotalAmt	0	74714
IRS990/TotalGrossUBIAmt	0	0
IRS990/TotalLiabilitiesBOYAmt	0	2964135
IRS990/TotalLiabilitiesEOYAmt	0	2766847
IRS990/TotalLiabilitiesGrp/BOYAmt	0	2964135
IRS990/TotalLiabilitiesGrp/EOYAmt	0	2766847
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt	0	1696865
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt	0	1950351
IRS990/TotalProgramServiceExpensesAmt	0	74714
IRS990/TotalProgramServiceRevenueAmt	0	324000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt	0	328200
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt	0	328200
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt	0	4661000
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt	0	4717198
IRS990/TrnsfrExmptNonChrtblRltdOrgInd	0	false
IRS990/TypeOfOrganizationCorpInd	0	X
IRS990/UnrelatedBusIncmOverLimitInd	0	false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt	0	1696865
IRS990/UnrestrictedNetAssetsGrp/EOYAmt	0	1950351
IRS990/UponRequestInd	0	X
IRS990/USAddress/AddressLine1Txt	0	1000 4ND STREET
IRS990/USAddress/CityNm	0	OAKLAND
IRS990/USAddress/StateAbbreviationCd	0	CA
IRS990/USAddress/ZIPCd	0	94608
IRS990/VotingMembersGoverningBodyCnt	0	4
IRS990/VotingMembersIndependentCnt	0	4
IRS990/WebsiteAddressTxt	0	N/A
IRS990/WhistleblowerPolicyInd	0	false
ReturnHeader/BuildTS	0	2016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	true
ReturnHeader/BusinessOfficerGrp/PersonNm	0	RICHARD TRAFFORD-OWEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum	0	5106550540
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2016-04-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	PROGRESSIVE EQUITY CHARTER INC
ReturnHeader/Filer/BusinessNameControlTxt	0	PROG
ReturnHeader/Filer/EIN	0	800496070
ReturnHeader/Filer/PhoneNum	0	5106550540
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	1000 42ND STREET
ReturnHeader/Filer/USAddress/CityNm	0	OAKLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	CA
ReturnHeader/Filer/USAddress/ZIPCd	0	94608
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	952242818
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	VICENTI LLOYD & STUTZMAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	2210 E ROUTE 66 STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	GLENDORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	917404676
ReturnHeader/PreparerPersonGrp/PhoneNum	0	6268577300
ReturnHeader/PreparerPersonGrp/PreparationDt	0	2016-04-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	WADE MCMULLEN CPA
ReturnHeader/ReturnTs	0	2016-04-27T10:42:20-05:00
ReturnHeader/ReturnTypeCd	0	990
ReturnHeader/TaxPeriodBeginDt	0	2014-07-01
ReturnHeader/TaxPeriodEndDt	0	2015-06-30
ReturnHeader/TaxYr	0	2014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing

Assets: $4,717,198
Liabilities: $2,766,847
Net assets: $1,950,351
Revenue: $328,200
Expenses: $74,714
Net income: $253,486

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.	$4.05	$2.13	$1.92	$0.41	$0.24	$0.17
2023Summary only. Only limited summary data is available for this year.	$3.97	$2.24	$1.72	$0.38	$0.35	$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$4.01	$1.39	$2.62	$0.38	$0.24	$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$4.07	$1.58	$2.49	$0.38	$0.24	$0.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$4.13	$1.78	$2.35	$0.38	$0.23	$0.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$4.19	$1.98	$2.21	$0.38	$0.28	$0.10
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.	$4.29	$2.17	$2.11	$0.36	$0.25	$0.12
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$4.37	$2.37	$2.00	$0.35	$0.24	$0.11
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$4.45	$2.57	$1.88	$0.34	$0.41	$0.07
2015Detailed filing. Detailed filing data is available for this year.	$4.72	$2.77	$1.95	$0.33	$0.07	$0.25
2014Detailed filing. Detailed filing data is available for this year.	$4.66	$2.96	$1.70	$0.49	$0.22	$0.27
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.	$4.77	$3.35	$1.42		$0.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.	$4.83	$3.43	$1.41		$0.33
2011Summary only. Only limited summary data is available for this year.	$4.92	$3.65	$1.27	$0.35	$0.29	$0.06