Civic Intelligence

Salem Academy Charter School Foundation Inc.

990 • Fiscal year 2019 • EIN 83-0368169

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 10, 2020

Organization ProfileN/A
45 Congress StreetSalem, MA 01970

(978) 744-2105

Siviq Scores

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

Liabilities / Assets

40th percentile

0.01x

Higher debt load relative to assets than 40% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

37th percentile

0.01x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

72nd percentile

16%

Higher net margin than 72% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

94th percentile

$159,650

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 24.2% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

80th percentile

24%

Faster asset growth than 80% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

84th percentile

44%

Faster revenue growth than 84% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$563,873

Up $108,103 (+24%) from 2018

Net Assets

Up

$558,628

Up $104,538 (+23%) from 2018

Liabilities

Up

$5,245

Up $3,565 (+212%) from 2018

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin72nd percentile

Revenue

Up

$659,633

Up $200,449 (+44%) from 2018

Expenses

Up

$555,095

Up $523,339 (+1648%) from 2018

Net Income

Down

$104,538

Down $322,890 (-76%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2010: $66,098Liabilities 2010: $4,4992010Assets 2011: $19,344Liabilities 2011: $10,308Net Assets 2011: $9,0362011Assets 2012: $13,201Liabilities 2012: $13,583Net Assets 2012: -$3822012Assets 2013: $164,283Liabilities 2013: $16,2382013Assets 2014: $8,192Liabilities 2014: $18,3312014Assets 2015: $39,218Liabilities 2015: $3,758Net Assets 2015: $35,4602015Assets 2016: $116,519Liabilities 2016: $41,245Net Assets 2016: $75,2742016Assets 2017: $149,857Liabilities 2017: $123,195Net Assets 2017: $26,6622017Assets 2018: $455,770Liabilities 2018: $1,680Net Assets 2018: $454,0902018Assets 2019: $563,873Liabilities 2019: $5,245Net Assets 2019: $558,6282019Assets 2020: $590,911Liabilities 2020: $5,245Net Assets 2020: $585,6662020Assets 2021: $108,454Liabilities 2021: $7,040Net Assets 2021: $101,4142021Assets 2022: $939,626Liabilities 2022: $136,097Net Assets 2022: $803,5292022Assets 2023: $948,260Liabilities 2023: $3,796Net Assets 2023: $944,4642023Assets 2024: $1,303,843Liabilities 2024: $1,426Net Assets 2024: $1,302,4172024Assets 2025: $1,644,600Liabilities 2025: $0Net Assets 2025: $1,644,6002025

Highlighted filing

2019

Assets$563,873
Liabilities$5,245
Net Assets$558,628
Open 2019 Filing

Operations Trend

Revenue Growth84th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2010: $188,363Expenses 2010: $181,576Net Income 2010: $6,7872010Expenses 2011: $256,7502011Expenses 2012: $335,2732012Revenue 2013: $194,765Expenses 2013: $46,338Net Income 2013: $148,4272013Revenue 2014: $64,395Expenses 2014: $222,579Net Income 2014: -$158,1842014Revenue 2015: $101,267Expenses 2015: $55,668Net Income 2015: $45,5992015Revenue 2016: $116,566Expenses 2016: $76,752Net Income 2016: $39,8142016Revenue 2017: $112,681Expenses 2017: $161,293Net Income 2017: -$48,6122017Revenue 2018: $459,184Expenses 2018: $31,756Net Income 2018: $427,4282018Revenue 2019: $659,633Expenses 2019: $555,095Net Income 2019: $104,5382019Revenue 2020: $670,437Expenses 2020: $643,399Net Income 2020: $27,0382020Revenue 2021: $115,919Expenses 2021: $600,171Net Income 2021: -$484,2522021Revenue 2022: $1,469,394Expenses 2022: $767,279Net Income 2022: $702,1152022Revenue 2023: $866,381Expenses 2023: $725,446Net Income 2023: $140,9352023Revenue 2024: $1,100,120Expenses 2024: $742,167Net Income 2024: $357,9532024Revenue 2025: $1,117,215Expenses 2025: $775,032Net Income 2025: $342,1832025

Highlighted filing

2019

Revenue$659,633
Expenses$555,095
Net Income$104,538
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 10, 2020
Return Version
2018v3.1
Gross Receipts
$659,633
Mission and Program Overview

Mission

To support the activities of salem academy charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$455,730$563,873▲ $108,143
Accounts Receivable$40$0▼ $40
Total Assets$455,770$563,873▲ $108,103
Liabilities
Accounts Payable and Accrued Expenses$1,680$5,245▲ $3,565
Total Liabilities$1,680$5,245▲ $3,565
Net Assets / Fund Balance
Temporarily Rstr Net Assets$429,014$525,637▲ $96,623
Unrestricted Net Assets$25,076$32,991▲ $7,915
Total Net Assets Fund Balance$454,090$558,628▲ $104,538
Total Liabilities and Net Assets / Fund Balance$455,770$563,873▲ $108,103
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleOtherTotal
Stephanie CallahanBoard Member$144,000$144,000

Board Members and Trustees

NameTitle
W Stevenson PalmerPresident
Jennifer LussierVice President
Kathy EgmontBoard Member
Leslie TuttleBoard Member
Nina V CohenBoard Member
Paige NalipinskiBoard Member
Rachel HuntBoard Member
EMILY O'BRIENClerk
Connie BurkeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$658,012
Program Service Revenue
$0
Investment Income
$1,621
Other Revenue
$0
All Other Contributions
$658,012
Change in Net Assets
$104,538
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$553,637
Other Expenses$1,458
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$553,637--$553,637
Fees for Services Other$1,458--$1,458
Total Functional Expenses$555,095$0$0$555,095
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Salem Acacemy Charter SchoolSalem, MA-Support the Charter School$553,637
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“The board does not have committees with authority to act on behalf of the governning body therefore there are no minutes.”

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

“The treasurer reviews the form 990 on behalf of the organization.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Salem Academy Charter School Foundation
EIN
83-0368169
Phone
9787442105
Address
45 CONGRESS STREET, SALEM, MA 01970

Signing Officer

Name
Kathy Egmont
Title
Executive Director
Phone
9787442105
Signed
2020-03-10
Discuss with paid preparer
No

Organization Details

Principal Officer
Kathy Egmont
Formed
2003
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Daniel Dennis & Company Llp
Address
990 WASHINGTON STREET, DEDHAM, MA 02026
Preparer
COLLEEN D'ALFONSO
Phone
6172629898
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The foundation evaluates its tax positions taken in its previously filed returns and those expected to be taken in its fiscal year 2019 returns, and believes they are more-likely-than-not of being sustained if examined by federal or state authorities. The foundation's fiscal year 2016-2018 tax returns remain subject to examination by federal and state tax authorities.”

Raw XML AppendixShowing 400 of 426 raw XML fields

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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION EVALUATES ITS TAX POSITIONS TAKEN IN ITS PREVIOUSLY FILED RETURNS AND THOSE EXPECTED TO BE TAKEN IN ITS FISCAL YEAR 2019 RETURNS, AND BELIEVES THEY ARE MORE-LIKELY-THAN-NOT OF BEING SUSTAINED IF EXAMINED BY FEDERAL OR STATE AUTHORITIES. THE FOUNDATION'S FISCAL YEAR 2016-2018 TAX RETURNS REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'S BOARD WORKS WITH THE MANAGMENT OF THE SCHOOL TO MONITOR THE CONTRIBUTIONS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0159650
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KATHY EGMONT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0BOARD MEMBER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0159650
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD DOES NOT HAVE COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNNING BODY THEREFORE THERE ARE NO MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TREASURER REVIEWS THE FORM 990 ON BEHALF OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SALEM ACADEMY CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0270054158
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0OPERATE A CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 6
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt045 CONGRESS STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SALEM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd001970
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd01
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0553637
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SALEM ACADMEY CHARTER SCHOOL
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0429014
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0525637
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0455770
IRS990/TotalAssetsEOYAmt0563873
IRS990/TotalAssetsGrp/BOYAmt0455770
IRS990/TotalAssetsGrp/EOYAmt0563873
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0658012
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0555095
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01680
IRS990/TotalLiabilitiesEOYAmt05245
IRS990/TotalLiabilitiesGrp/BOYAmt01680
IRS990/TotalLiabilitiesGrp/EOYAmt05245
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0454090
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0558628
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0555095
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01621
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0659633
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0455770
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0563873
IRS990/TotReportableCompRltdOrgAmt0303650
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt025076
IRS990/UnrestrictedNetAssetsGrp/EOYAmt032991
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt045 CONGRESS STREET
IRS990/USAddress/CityNm0SALEM
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001970
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd00
ReturnHeader/BusinessOfficerGrp/PersonNm0KATHY EGMONT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09787442105
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SALEM ACADEMY CHARTER SCHOOL FOUNDATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INC
ReturnHeader/Filer/BusinessNameControlTxt0SALE
ReturnHeader/Filer/EIN0830368169

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$563,873
Liabilities
$5,245
Net assets
$558,628
Revenue
$659,633
Expenses
$555,095
Net income
$104,538
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.64$0.00$1.64$1.12$0.78$0.34
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.30$0.00$1.30$1.10$0.74$0.36
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$0.00$0.94$0.87$0.73$0.14
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.94$0.14$0.80$1.47$0.77$0.70
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.11$0.01$0.10$0.12$0.60$0.48
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$0.01$0.59$0.67$0.64$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.56$0.01$0.56$0.66$0.56$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.46$0.00$0.45$0.46$0.03$0.43
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.15$0.12$0.03$0.11$0.16$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.12$0.04$0.08$0.12$0.08$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.10$0.06$0.05
2014Summary only. Only limited summary data is available for this year.$0.01$0.02$0.06$0.22$0.16
2013Summary only. Only limited summary data is available for this year.$0.16$0.02$0.19$0.05$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.01$0.00$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.01$0.01$0.26
2010Summary only. Only limited summary data is available for this year.$0.07$0.00$0.19$0.18$0.01