Civic Intelligence

Emblaze Academy Charter School

990 • Fiscal year 2021 • EIN 82-1845353

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

1164 Garrison AveBronx, NY 10474

(929) 388-0011

Siviq Scores

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

Liabilities / Assets

65th percentile

0.73x

Higher debt load relative to assets than 65% of similar nonprofits.

2021 filings • NTEE B29 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

61st percentile

0.26x

Higher debt load relative to revenue than 61% of similar nonprofits.

2021 filings • NTEE B29 • $5M-$10M nonprofits • Source year 2021

Net Margin

67th percentile

12%

Higher net margin than 67% of similar nonprofits.

2021 filings • NTEE B29 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

54th percentile

$143,517

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2021 filings • NTEE B29 • $5M-$10M nonprofits • Source year 2021

Asset Growth

91st percentile

88%

Faster asset growth than 91% of similar nonprofits.

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

Revenue Growth

85th percentile

52%

Faster revenue growth than 85% of similar nonprofits.

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

Assets

Up

$2,542,913

Up $1,186,746 (+88%) from 2020

Net Assets

Up

$698,774

Up $855,588 (+546%) from 2020

Liabilities

Up

$1,844,139

Up $331,158 (+22%) from 2020

Revenue

Up

$7,053,620

Up $2,425,188 (+52%) from 2020

Expenses

Up

$6,198,032

Up $669,232 (+12%) from 2020

Net Income

Up

$855,588

Up $1,755,956 (+195%) from 2020

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2018: $314,223Liabilities 2018: $9,855Net Assets 2018: $304,3682018Assets 2019: $879,034Liabilities 2019: $135,480Net Assets 2019: $743,5542019Assets 2020: $1,356,167Liabilities 2020: $1,512,981Net Assets 2020: -$156,8142020Assets 2021: $2,542,913Liabilities 2021: $1,844,139Net Assets 2021: $698,7742021Assets 2022: $3,635,640Liabilities 2022: $2,598,652Net Assets 2022: $1,036,9882022Assets 2023: $29,055,835Liabilities 2023: $29,127,277Net Assets 2023: -$71,4422023Assets 2024: $27,773,343Liabilities 2024: $28,207,706Net Assets 2024: -$434,3632024Assets 2025: $26,389,469Liabilities 2025: $27,185,298Net Assets 2025: -$795,8292025

Highlighted filing

2021

Assets$2,542,913
Liabilities$1,844,139
Net Assets$698,774

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2018: $760,074Expenses 2018: $455,706Net Income 2018: $304,3682018Revenue 2019: $2,792,938Expenses 2019: $2,353,752Net Income 2019: $439,1862019Revenue 2020: $4,628,432Expenses 2020: $5,528,800Net Income 2020: -$900,3682020Revenue 2021: $7,053,620Expenses 2021: $6,198,032Net Income 2021: $855,5882021Revenue 2022: $7,535,458Expenses 2022: $7,197,244Net Income 2022: $338,2142022Revenue 2023: $5,980,202Expenses 2023: $7,088,632Net Income 2023: -$1,108,4302023Revenue 2024: $7,085,889Expenses 2024: $7,448,810Net Income 2024: -$362,9212024Revenue 2025: $6,471,459Expenses 2025: $6,832,925Net Income 2025: -$361,4662025

Highlighted filing

2021

Revenue$7,053,620
Expenses$6,198,032
Net Income$855,588
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 9, 2022
Return Version
2020v4.0
Gross Receipts
$7,053,620
Mission and Program Overview

Mission

Through rigorous curriculum and high quality instruction, provided within an invested and ambitious school community, Emblaze Academy Charter School prepares all students in grades five through eight to thrive in high school and graduate from the college of their choice.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$204,647$1,271,023▲ $1,066,376
Pledges and Grants Receivable$301,855$443,445▲ $141,590
Land, Buildings, and Equipment, Net$343,572$377,018▲ $33,446
Savings and Temporary Cash Investments$68,204$171,021▲ $102,817
Prepaid Expenses and Deferred Charges$217,055$130,406▼ $86,649
Accounts Receivable-$0-
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$1,356,167$2,542,913▲ $1,186,746
Other Assets Total$220,834$150,000▼ $70,834
Liabilities
Other Liabilities$1,036,863$1,608,499▲ $571,636
Unsecured Notes Loans Payable$338,725--
Accounts Payable and Accrued Expenses$137,393$235,640▲ $98,247
Total Liabilities$1,512,981$1,844,139▲ $331,158
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-156,814$698,774▲ $855,588
Total Net Assets Fund Balance$-156,814$698,774▲ $855,588
Total Liabilities and Net Assets / Fund Balance$1,356,167$2,542,913▲ $1,186,746

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$261,045$167,981$429,026
Equipment$115,973$51,675$167,648
Other Assets Org$150,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erienne RojasDirector of OperationsFT$132,043$11,474$143,517
Francesca LujanHead of SchoolFT$58,061$2,280$60,341

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$7,052,821
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$799
All Other Contributions
$176,579
Change in Net Assets
$855,588

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,053,620
Total Revenue per Audited Statements
$7,053,620
Total Revenue per Form 990
$7,053,620
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,345,594
Other Expenses$2,852,438
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,363,701$326,425-$2,690,126
Occupancy$2,063,008--$2,063,008
Other Employee Benefits$236,389$32,963-$269,352
Payroll Taxes$204,024$28,512-$232,536
Fees for Services Other$15,062$210,668-$225,730
Current Officers, Directors, Trustees, and Key Employees$108,188$19,092-$127,280
Depreciation Depletion$119,331--$119,331
Insurance$69,960$12,346-$82,306
Office Expenses-$63,809-$63,809
Other Expenses$52,684$64,403-$52,684
Pension Plan Contributions$23,075$3,225-$26,300
All Other Expenses$17,448$8,383-$25,831
Fees for Services Legal-$8,306-$8,306
Total Functional Expenses$5,354,617$843,415$0$6,198,032

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,198,032
Total Expenses per Audited Statements$6,198,032
Total Expenses per Form 990$6,198,032
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred rent$1,608,499
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

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

The school 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 15A: Compensation Review & Approval Process - CEO, Top Management

Each year, the compensation committee reviews comparable salaries based on a recognized study and reviews the performance of the Head of School 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 details of this process.

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

Available upon request.

Filing and Contact Details

Filer

Filer Name
Emblaze Academy Charter School
EIN
82-1845353
Phone
9293880011
Address
1164 Garrison Ave, Bronx, NY 10474

Signing Officer

Name
Erienne Rojas
Title
Head of School
Signed
2022-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Geraldo Vasquez
Formed
2018
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
47

Preparer

Firm
Schall & Ashenfarb Cpas LLC
Address
307 FIFTH AVE 15TH FL, NEW YORK, NY 10016
Preparer
Michael Schall
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 filings for periods ending June 30, 2018, the Schools initial filing, and later are subject to examination by applicable taxing authorities.

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IRS990/PrincipalOfficerNm0Geraldo Vasquez
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IRS990ScheduleD/RevenueSubtotalAmt07053620
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School does not believe its financial statements include any material, uncertain tax positions. Tax filings for periods ending June 30, 2018, the Schools initial filing, 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 includes its nondiscrimination statement in various organizational and programmatic documents including its employer handbook. The School makes the policy publicized in print and electronic media. A copy of the policy is made available upon request.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The School receives various government grants.
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
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The school 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Each year, the compensation committee reviews comparable salaries based on a recognized study and reviews the performance of the Head of School 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 details of this process.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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