Civic Intelligence

Excel Academy Rhode Island

990 • Fiscal year 2023 • EIN 87-4129135

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 30, 2024

Organization ProfileWWW.EXCELACADEMY.ORG/MASSACHUSETTS-SCHOOL
622 Woonasquatucket AveNorth Providence, RI 02911

(401) 680-6086

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.99x

Higher debt load relative to assets than 93% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

78th percentile

0.37x

Higher debt load relative to revenue than 78% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Net Margin

41st percentile

0.2%

Higher net margin than 41% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets93rd percentile

Assets

$1,300,193

No earlier filing loaded for comparison.

Net Assets

$7,909

No earlier filing loaded for comparison.

Liabilities

$1,292,284

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin41st percentile

Revenue

$3,494,734

No earlier filing loaded for comparison.

Expenses

$3,487,825

No earlier filing loaded for comparison.

Net Income

$6,909

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0Assets 2023: $1,300,193Liabilities 2023: $1,292,284Net Assets 2023: $7,9092023Assets 2024: $2,337,417Liabilities 2024: $2,316,120Net Assets 2024: $21,2972024

Highlighted filing

2023

Assets$1,300,193
Liabilities$1,292,284
Net Assets$7,909
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Revenue 2023: $3,494,734Expenses 2023: $3,487,825Net Income 2023: $6,9092023Revenue 2024: $4,928,819Expenses 2024: $4,915,431Net Income 2024: $13,3882024

Highlighted filing

2023

Revenue$3,494,734
Expenses$3,487,825
Net Income$6,909
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 30, 2024
Return Version
2022v5.0
Gross Receipts
$3,494,734
Mission and Program Overview

Mission

The mission of excel academy rhode island is to prepare students to succeed in high school and college, to apply their learning in solving relevant problems, and to engage productively in their community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,000$334,584▲ $333,584
Savings and Temporary Cash Investments-$108,097-
Accounts Receivable-$36,863-
Prepaid Expenses and Deferred Charges-$29,567-
Total Assets$1,000$1,300,193▲ $1,299,193
Other Assets Total$0$791,082▲ $791,082
Liabilities
Other Liabilities$0$1,097,866▲ $1,097,866
Accounts Payable and Accrued Expenses$0$194,418▲ $194,418
Total Liabilities$0$1,292,284▲ $1,292,284
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,000$7,909▲ $6,909
Total Net Assets Fund Balance$1,000$7,909▲ $6,909
Total Liabilities and Net Assets / Fund Balance$1,000$1,300,193▲ $1,299,193

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$143,216--
Compensation and Service Providers
Top Officer Pay38th percentile

Board Members and Trustees

NameTitle
Mayor Jorge ElorzaChair
Channavy ChhayVice Chair
Gary GoldbergBoard Member
Liz GiordanoBoard Member
Mayor Charles LombardiBoard Member
Mayor Maria RiveraClerk
Chiv HengTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Friends Of Excel Academy Charter SchoolManagement Fee58 MOORE STREET, East Boston, MA 02128$143,129
Revenue and Support

Revenue Composition

Contributions and Grants
$3,494,734
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,819,051
Change in Net Assets
$6,909

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,006,110
Revenue Not Reported on Financial Statements
$488,624
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$488,624
Total Revenue per Audited Statements
$3,006,110
Total Revenue per Form 990
$3,494,734
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,929,272
Salaries, Compensation, and Employee Benefits$1,558,553
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,341,655--$1,341,655
Occupancy$330,805--$330,805
Fees for Services Management-$283,605-$283,605
Office Expenses$144,124$3,292-$147,416
Other Employee Benefits$114,782--$114,782
Payroll Taxes$102,116--$102,116
Fees for Services Other$49,023$3,000-$52,023
Other Expenses$29,552--$29,552
Travel$5,790--$5,790
Total Functional Expenses$3,197,928$289,897$0$3,487,825

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,487,825
Expenses per Audited Statements$2,999,201
Total Expenses per Audited Statements$2,999,201
Expenses Not Reported on Financial Statements$488,624
Other Expense Adjustments$488,624
Expenses Not Reported on Form 990$0
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
Operating Lease Liability$647,866
Note Payable - Related Party$450,000
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
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Excel academy rhode island (the school) entered into a master service agreement with the friends of excel academy charter school, inc. (the foundation). Under the agreement, the foundation is authorized to provide the school with academic, financial, technological, curriculum, and operational support.”

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

“Form 990 was reviewed by admin personnel before filing.”

Form 990, Part VI, Section B, Line 12C

“Annual meeting members reaffirmed conflict of interest policy and discuss whether violations have taken place.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Excel Academy Rhode Island
EIN
87-4129135
Phone
4016806086
Address
622 WOONASQUATUCKET AVE, NORTH PROVIDENCE, RI 02911

Signing Officer

Name
Channavy Chhay
Title
Vice Chair
Phone
4016806086
Signed
2024-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Channavy Chhay
Formed
2021
Legal Domicile
Ri
Voting Board Members
7
Independent Board Members
7
Employees
19
Volunteers
57

Preparer

Firm
Aafcpas Inc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
John Buckley CPA
Phone
5083669100
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The board of directors has oversight of the audit process.”

Financial Statement Notes

PART X, LINE 2:

“The school accounts for uncertainty in income taxes in accordance with accounting standards codification (asc) topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the financial statements regarding a tax position taken or expected to be taken in a tax return. The school has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the accompanying financial statements at june 30, 2023. The school's information returns are subject to examination by the federal and state jurisdictions.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“CAPITAL GRANTS 488,624.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Site search costs 488,624.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CAPITAL GRANTS 488,624.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SITE SEARCH COSTS 488,624.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02999201
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION'S WEBSITE
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1TITLE I, IIA AND IV FUNDS ARE ACCESSED THROUGH FRIENDS OF EXCEL ACADEMY CHARTER SCHOOL, INC., WHO PROVIDE PASS-THROUGH GRANTS TO EXCEL ACADEMY RHODE ISLAND.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXCEL ACADEMY RHODE ISLAND (THE SCHOOL) ENTERED INTO A MASTER SERVICE AGREEMENT WITH THE FRIENDS OF EXCEL ACADEMY CHARTER SCHOOL, INC. (THE FOUNDATION). UNDER THE AGREEMENT, THE FOUNDATION IS AUTHORIZED TO PROVIDE THE SCHOOL WITH ACADEMIC, FINANCIAL, TECHNOLOGICAL, CURRICULUM, AND OPERATIONAL SUPPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WAS REVIEWED BY ADMIN PERSONNEL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUAL MEETING MEMBERS REAFFIRMED CONFLICT OF INTEREST POLICY AND DISCUSS WHETHER VIOLATIONS HAVE TAKEN PLACE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS HAS OVERSIGHT OF THE AUDIT PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0RI
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01000
IRS990/TotalAssetsEOYAmt01300193
IRS990/TotalAssetsGrp/BOYAmt01000
IRS990/TotalAssetsGrp/EOYAmt01300193
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03494734
IRS990/TotalEmployeeCnt019
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0289897
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03197928
IRS990/TotalFunctionalExpensesGrp/TotalAmt03487825
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt01292284
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01292284
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01000
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07909
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03197928
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03494734
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt057
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01000
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01300193
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt05790
IRS990/TravelGrp/TotalAmt05790
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0622 WOONASQUATUCKET AVE
IRS990/USAddress/CityNm0NORTH PROVIDENCE
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002911
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0HTTPS://WWW.EXCELACADEMY.ORG/MASSACHUSETTS-SCHOOL
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHANNAVY CHHAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum04016806086
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EXCEL ACADEMY RHODE ISLAND
ReturnHeader/Filer/BusinessNameControlTxt0EXCE
ReturnHeader/Filer/EIN0874129135
ReturnHeader/Filer/PhoneNum04016806086
ReturnHeader/Filer/USAddress/AddressLine1Txt0622 WOONASQUATUCKET AVE
ReturnHeader/Filer/USAddress/CityNm0NORTH PROVIDENCE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0RI
ReturnHeader/Filer/USAddress/ZIPCd002911
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042571780
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0AAFCPAS INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 WASHINGTON STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WESTBOROUGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001581
ReturnHeader/PreparerPersonGrp/PhoneNum05083669100
ReturnHeader/PreparerPersonGrp/PreparationDt02024-04-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN BUCKLEY CPA
ReturnHeader/ReturnTs02024-05-01T08:37:43-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHANNAVY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CHHAY
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,300,193
Liabilities
$1,292,284
Net assets
$7,909
Revenue
$3,494,734
Expenses
$3,487,825
Net income
$6,909
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.34$2.32$0.02$4.93$4.92$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.30$1.29$0.01$3.49$3.49$0.01