Civic Intelligence

Lefferts Gardens Charter School

990 • Fiscal year 2015 • EIN 80-0527503

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 10, 2016

601 Parkside Avenue 4th FloorBrooklyn, NY 11226

(718) 284-1480

Siviq Scores

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

Liabilities / Assets

55th percentile

0.23x

Higher debt load relative to assets than 55% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

37th percentile

0.11x

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

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

71st percentile

12%

Higher net margin than 71% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

67th percentile

$161,310

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

93rd percentile

51%

Faster asset growth than 93% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

80th percentile

22%

Faster revenue growth than 80% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Up

$3,226,826

Up $1,089,841 (+51%) from 2014

Net Assets

Up

$2,481,622

Up $857,201 (+53%) from 2014

Liabilities

Up

$745,204

Up $232,640 (+45%) from 2014

Revenue

Up

$6,979,925

Up $1,245,081 (+22%) from 2014

Expenses

Up

$6,122,724

Up $1,285,091 (+27%) from 2014

Net Income

Down

$857,201

Down $40,010 (-4.5%) from 2014

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $838,307Liabilities 2011: $166,106Net Assets 2011: $672,2012011Assets 2012: $899,973Liabilities 2012: $249,230Net Assets 2012: $650,7432012Assets 2013: $1,223,999Liabilities 2013: $496,789Net Assets 2013: $727,2102013Assets 2014: $2,136,985Liabilities 2014: $512,564Net Assets 2014: $1,624,4212014Assets 2015: $3,226,826Liabilities 2015: $745,204Net Assets 2015: $2,481,6222015Assets 2016: $3,236,107Liabilities 2016: $1,025,592Net Assets 2016: $2,210,5152016Assets 2017: $2,008,316Liabilities 2017: $7,554Net Assets 2017: $2,000,7622017Assets 2018: $1,991,853Liabilities 2018: $7,554Net Assets 2018: $1,984,2992018Assets 2019: $1,985,925Liabilities 2019: $9,795Net Assets 2019: $1,976,1302019Assets 2020: $1,978,144Liabilities 2020: $7,553Net Assets 2020: $1,970,5912020Assets 2021: $1,941,050Liabilities 2021: $0Net Assets 2021: $1,941,0502021Assets 2022: $1,934,075Liabilities 2022: $3,254Net Assets 2022: $1,930,8212022

Highlighted filing

2015

Assets$3,226,826
Liabilities$745,204
Net Assets$2,481,622

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,992,1602011Expenses 2012: $3,925,2682012Expenses 2013: $4,743,3672013Revenue 2014: $5,734,844Expenses 2014: $4,837,633Net Income 2014: $897,2112014Revenue 2015: $6,979,925Expenses 2015: $6,122,724Net Income 2015: $857,2012015Revenue 2016: $7,003,756Expenses 2016: $6,872,948Net Income 2016: $130,8082016Revenue 2017: $5,595Expenses 2017: $215,348Net Income 2017: -$209,7532017Revenue 2018: $953Expenses 2018: $17,416Net Income 2018: -$16,4632018Revenue 2019: $912Expenses 2019: $9,081Net Income 2019: -$8,1692019Revenue 2020: $661Expenses 2020: $6,200Net Income 2020: -$5,5392020Revenue 2021: $295Expenses 2021: $29,836Net Income 2021: -$29,5412021Revenue 2022: $254Expenses 2022: $10,483Net Income 2022: -$10,2292022

Highlighted filing

2015

Revenue$6,979,925
Expenses$6,122,724
Net Income$857,201
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 10, 2016
Return Version
2014v6.0
Gross Receipts
$6,979,925
Mission and Program Overview

Mission

The Lefferts Gardens Charter School develops academically motivated and civic-minded students who have the educational foundation to succeed in competitive high schools and college programs. The school's focus on environmental science provides the framework for inquiry-based learning and the development of literacy. Collaborations with leading Brooklyn environmental institutions bring rich experiences from outside the classroom, and provide the context to understand, and care for, the world in which we live.

The Lefferts Gardens Charter School develops academically motivated and civic-minded students who have the educational foundation to succeed in competitive high schools and college programs. See Schedule O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$931,723$1,342,717▲ $410,994
Savings and Temporary Cash Investments$705,129$1,276,041▲ $570,912
Land, Buildings, and Equipment, Net$415,999$342,928▼ $73,071
Pledges and Grants Receivable$21,331$194,471▲ $173,140
Prepaid Expenses and Deferred Charges$59,838$70,669▲ $10,831
Accounts Receivable$2,965$0▼ $2,965
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,136,985$3,226,826▲ $1,089,841
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$507,641$744,815▲ $237,174
Deferred Revenue$4,923$389▼ $4,534
Total Liabilities$512,564$745,204▲ $232,640
Net Assets / Fund Balance
Unrestricted Net Assets$1,624,421$2,481,622▲ $857,201
Total Net Assets Fund Balance$1,624,421$2,481,622▲ $857,201
Total Liabilities and Net Assets / Fund Balance$2,136,985$3,226,826▲ $1,089,841

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$342,928$436,868$779,796
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael WindramSchool LeaderFT$130,893$30,417$161,310
Wendy RamosDirector of OperationsFT$98,044$28,771$126,815

Board Members and Trustees

NameTitle
Tara HarrisonCo-Chair
Tim PrattCo-Chair
Charlotte BloombergTrustee
Haddy TaslimTrustee
Jasen NhambiuTrustee
Liza ZarifiTrustee
Monique JeffersonTrustee
Renee CicconeParent Rep.
Tobi ParksSecretary
Richard MaatheyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,978,353
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1,572
All Other Contributions
$14,341
Change in Net Assets
$857,201

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,979,925
Total Revenue per Audited Statements
$6,979,925
Total Revenue per Form 990
$6,979,925
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,943,415
Other Expenses$1,179,309
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,489,327$203,933-$3,693,260
Other Employee Benefits$547,177$44,569-$591,746
Payroll Taxes$312,407$25,447-$337,854
Current Officers, Directors, Trustees, and Key Employees$137,182$91,455-$228,637
Fees for Services Other$136,889$57,659-$194,548
Depreciation Depletion$146,681$11,948-$158,629
Fees for Services Management-$130,000-$130,000
Office Expenses$98,195$7,998-$106,193
Pension Plan Contributions$84,995$6,923-$91,918
All Other Expenses$47,603$14,307-$61,910
Other Expenses$32,548$2,651-$35,199
Insurance$30,452$2,480-$32,932
Fees for Services Legal-$11,387-$11,387
Total Functional Expenses$5,504,402$618,322$0$6,122,724

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,122,724
Total Expenses per Audited Statements$6,122,724
Total Expenses per Form 990$6,122,724
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Part VI, Line 11B: Form 990 Review Process

Management reviewed a draft of the form 990 with the treasurer and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization has a "board approved" conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Each year, the human resources committee reviews comparable salaries based on a recognized study and reviews the performance of the school leader, director of finance and other employees, to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. The minutes of the board of directors reflect the nature of this process.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Organizational documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Lefferts Gardens Charter School
EIN
80-0527503
Phone
7182841480
Address
601 Parkside Avenue 4th Floor, Brooklyn, NY 11226

Signing Officer

Name
Richard Maathey
Title
Treasurer
Signed
2016-02-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Maathey
Formed
2010
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
84

Preparer

Firm
Schall & Ashenfarb Cpas
Address
307 5th Ave 15th Floor, NEW YORK, NY 10016-6517
Preparer
David C Ashenfarb
Phone
2122682800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The School does not believe its financial statements include any material, uncertain tax positions. Tax returns for periods ending June 30, 2012 and later are subject to examination by applicable taxing authorities.

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IRS990/MissionDesc0The Lefferts Gardens Charter School develops academically motivated and civic-minded students who have the educational foundation to succeed in competitive high schools and college programs. The school's focus on environmental science provides the framework for inquiry-based learning and the development of literacy. Collaborations with leading Brooklyn environmental institutions bring rich experiences from outside the classroom, and provide the context to understand, and care for, the world in which we live.
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IRS990/PrincipalOfficerNm0Richard Maathey
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School does not believe its financial statements include any material, uncertain tax positions. Tax returns for periods ending June 30, 2012 and later are subject to examination by applicable taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The School publicized its racially nondiscrimantory policy in its handbook.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
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