Civic Intelligence

Inner City Education Foundation

990 • Fiscal year 2016 • EIN 95-4548521

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 16, 2017

5120 W Goldleaf Circle 350Los Angeles, CA 90056

(323) 290-6900

Siviq Scores

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

Liabilities / Assets

49th percentile

0.26x

Higher debt load relative to assets than 49% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

27th percentile

0.14x

Higher debt load relative to revenue than 27% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

74th percentile

11%

Higher net margin than 74% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

47th percentile

$233,445

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

81st percentile

14%

Faster asset growth than 81% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

73rd percentile

11%

Faster revenue growth than 73% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Up

$24,859,401

Up $3,093,525 (+14%) from 2015

Net Assets

Up

$18,340,155

Up $5,468,730 (+42%) from 2015

Liabilities

Down

$6,519,246

Down $2,375,205 (-27%) from 2015

Revenue

Up

$47,872,157

Up $4,897,007 (+11%) from 2015

Expenses

Up

$42,403,427

Up $2,154,799 (+5.4%) from 2015

Net Income

Up

$5,468,730

Up $2,742,208 (+101%) from 2015

Historical Trend

Balance Sheet Trend

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

$100M$50M$0-$50MAssets 2010: $13,150,581Liabilities 2010: $26,135,181Net Assets 2010: -$12,984,6002010Assets 2011: $14,165,187Liabilities 2011: $23,661,728Net Assets 2011: -$9,496,5412011Assets 2012: $15,698,623Liabilities 2012: $19,395,656Net Assets 2012: -$3,697,0332012Assets 2013: $26,329,202Liabilities 2013: $19,048,150Net Assets 2013: $7,281,0522013Assets 2014: $21,217,586Liabilities 2014: $11,072,683Net Assets 2014: $10,144,9032014Assets 2015: $21,765,876Liabilities 2015: $8,894,451Net Assets 2015: $12,871,4252015Assets 2016: $24,859,401Liabilities 2016: $6,519,246Net Assets 2016: $18,340,1552016Assets 2017: $25,447,584Liabilities 2017: $5,936,682Net Assets 2017: $19,510,9022017Assets 2018: $26,332,346Liabilities 2018: $6,170,290Net Assets 2018: $20,162,0562018Assets 2019: $28,289,423Liabilities 2019: $5,739,639Net Assets 2019: $22,549,7842019Assets 2020: $24,831,978Liabilities 2020: $7,099,719Net Assets 2020: $17,732,2592020Assets 2021: $33,345,924Liabilities 2021: $8,025,023Net Assets 2021: $25,320,9012021Assets 2022: $35,733,948Liabilities 2022: $9,318,761Net Assets 2022: $26,415,1872022Assets 2023: $85,685,842Liabilities 2023: $58,097,565Net Assets 2023: $27,588,2772023Assets 2024: $85,378,857Liabilities 2024: $55,202,787Net Assets 2024: $30,176,0702024

Highlighted filing

2016

Assets$24,859,401
Liabilities$6,519,246
Net Assets$18,340,155

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $43,124,0092010Expenses 2011: $40,816,5992011Expenses 2012: $35,454,5272012Revenue 2013: $45,766,980Expenses 2013: $34,788,895Net Income 2013: $10,978,0852013Revenue 2014: $39,500,276Expenses 2014: $36,636,395Net Income 2014: $2,863,8812014Revenue 2015: $42,975,150Expenses 2015: $40,248,628Net Income 2015: $2,726,5222015Revenue 2016: $47,872,157Expenses 2016: $42,403,427Net Income 2016: $5,468,7302016Revenue 2017: $46,413,602Expenses 2017: $45,242,855Net Income 2017: $1,170,7472017Revenue 2018: $43,943,502Expenses 2018: $43,292,348Net Income 2018: $651,1542018Revenue 2019: $39,118,682Expenses 2019: $36,730,954Net Income 2019: $2,387,7282019Revenue 2020: $29,284,682Expenses 2020: $34,102,207Net Income 2020: -$4,817,5252020Revenue 2021: $41,820,831Expenses 2021: $34,232,189Net Income 2021: $7,588,6422021Revenue 2022: $43,441,114Expenses 2022: $42,346,828Net Income 2022: $1,094,2862022Revenue 2023: $51,343,367Expenses 2023: $50,170,277Net Income 2023: $1,173,0902023Revenue 2024: $55,808,501Expenses 2024: $53,220,708Net Income 2024: $2,587,7932024

Highlighted filing

2016

Revenue$47,872,157
Expenses$42,403,427
Net Income$5,468,730
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 16, 2017
Return Version
2015v3.0
Gross Receipts
$47,872,157
Mission and Program Overview

Mission

To prepare all students to attend and compete at the top 100 colleges and universities in the nation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$6,290,921$9,771,568▲ $3,480,647
Land, Buildings, and Equipment, Net$8,761,352$7,327,346▼ $1,434,006
Accounts Receivable$6,230,945$7,270,195▲ $1,039,250
Prepaid Expenses and Deferred Charges$482,658$490,292▲ $7,634
Total Assets$21,765,876$24,859,401▲ $3,093,525
Liabilities
Accounts Payable and Accrued Expenses$3,020,345$4,198,180▲ $1,177,835
Unsecured Notes Loans Payable$4,289,294$2,194,711▼ $2,094,583
Deferred Revenue$1,584,812$126,355▼ $1,458,457
Total Liabilities$8,894,451$6,519,246▼ $2,375,205
Net Assets / Fund Balance
Unrestricted Net Assets$12,871,425$18,340,155▲ $5,468,730
Total Net Assets Fund Balance$12,871,425$18,340,155▲ $5,468,730
Total Liabilities and Net Assets / Fund Balance$21,765,876$24,859,401▲ $3,093,525

Asset Categories

AssetBook ValueDepreciationBasis
Land$4,550,000-$4,550,000
Other Land Buildings$2,460,939-$2,460,939
Equipment$283,408$2,058,207$2,341,615
Buildings$32,999$356,584$389,583
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Parker HudnutCEOFT$219,384$28,505$233,445
Greg BrendelCOO/CFOFT$167,907$5,569$173,476
Marie MorelockCAOFT$125,606$10,045$150,095
Ryan GomezChief SchoolFT$117,000$25,679$142,679
Shuron OwensSchool PrincFT$103,000$21,772$124,772
Stuart KrohnRugby DirectFT$105,000$11,346$116,346

Board Members and Trustees

NameTitle
David G MooreBoard Chairm
Brandon RobersonBoard Member
Tom StricklerBoard Member
Tramell JohnsonBoard Member
William Boutie LucasBoard Member
Ranie LambeBoard Secret

Highest Paid Contractors

ContractorServicesLocationCompensation
Better 4 You Meals INCFood Service5743 SMITHWAY STREET, Commerce, CA 90040$1,565,695
After-school-all-starsAfter School6501 FOUNTAIN AVENUE, Los Angeles, CA 90028$1,022,137
Bccgp Cal LLCBuilding Srvc8700 N SECOND STREET STE 201, Brighton, MI 48116$794,196
Wlc Architects INCBuilding Srvc1917 PALOMAR OAKS WAY, Carlsbad, CA 92008$577,737
Excellent Education DevelopmentBusiness Srvc11858 LA GRANGE AVE 2ND FLOOR, Los Angeles, CA 90028$496,412
Revenue and Support

Revenue Composition

Contributions and Grants
$44,898,839
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$2,973,318
All Other Contributions
$3,315,421
Change in Net Assets
$5,468,730

Audited Revenue Reconciliation

Revenue per Audited Statements
$47,872,157
Total Revenue per Audited Statements
$47,872,157
Total Revenue per Form 990
$47,872,157
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$22,064,084
Other Expenses$20,309,965
Total Fundraising Expense$116,668
Grants and Similar Amounts Paid$29,378
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$15,683,130$1,160,612-$16,843,742
Fees for Services Other$4,650,472$217,944-$4,868,416
Occupancy$4,320,253$164,533-$4,484,786
Other Expenses$2,599,033$24,711$116,668$2,623,744
Other Employee Benefits$2,115,744$167,011-$2,282,755
Pension Plan Contributions$1,603,127$7,014-$1,610,141
Office Expenses$751,472$261,411-$1,012,883
Payroll Taxes$732,428$119,426-$851,854
Fees for Services Legal$214,042$514,121-$728,163
Current Officers, Directors, Trustees, and Key Employees-$475,592-$475,592
Fees for Services Accounting-$475,000-$475,000
Travel$327,140$112,412-$439,552
Depreciation Depletion$204,233$71,280-$275,513
Insurance$209,122$23,300-$232,422
Conferences and Meetings$119,282$78,848-$198,130
Interest-$116,043-$116,043
Advertising$19,911$20,878-$40,789
Grants to Domestic Individuals$29,378--$29,378
Total Functional Expenses$36,286,944$5,999,815$116,668$42,403,427

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$42,403,427
Total Expenses per Audited Statements$42,403,427
Total Expenses per Form 990$42,403,427
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The cfo signs it, and reports the results of his review with the board of trustees.

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

Conflicts of interest reviewed annual by management and the board.

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

The ceo salary is approved by the board of trustees.

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

Salaries for officers and trustees are approved by the board of trustees.

Form 990, Page 6, Part VI, Line 19

All governing documents are maintained at the corporate office and are available upon request.

Filing and Contact Details

Filer

Filer Name
Inner City Education Foundation
EIN
95-4548521
Phone
3232906900
Address
5120 W GOLDLEAF CIRCLE 350, LOS ANGELES, CA 90056
Doing Business As
Icef Public Schools

Signing Officer

Name
Parker Hudnut
Title
CEO
Phone
0323290690
Signed
2017-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Parker Hudnut
Formed
1995
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
6
Employees
539
Volunteers
650

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, Part IX, Line 11G

Other fees for services 1,548,295 217,944 0 instructional consulting 3,102,177 0 0

Financial Statement Notes

Schedule D, Page 3, Part X

Icef is a non-profit entity exempt from the payment of income taxes under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. Accordingly, no provision has been made for income taxes. Management has determined that all income tax positions are more likely than not of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. Icef files informational returns in the u.s. Federal jurisdiction, and the state of california. The statute of limitations for federal and california state purposes is generally three and four years, respectively.

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IRS990/Form990PartVIISectionAGrp/TitleTxt8CAO
IRS990/Form990PartVIISectionAGrp/TitleTxt9CHIEF SCHOOL
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IRS990/MissionDesc0TO PREPARE ALL STUDENTS TO ATTEND AND COMPETE AT THE TOP 100 COLLEGES AND UNIVERSITIES IN THE NATION.
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0356584
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt02058207
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IRS990ScheduleD/ExpensesSubtotalAmt042403427
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04550000
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ICEF IS A NON-PROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. ICEF FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF CALIFORNIA. THE STATUTE OF LIMITATIONS FOR FEDERAL AND CALIFORNIA STATE PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/MaintainRacialCompRecsInd0true
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IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ICEF PUBLIC SCHOOLS ANNUALLY BROADCAST AND ADVERTISES POLICY.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1AS PUBLIC CHARTER SCHOOLS, ICEF PUBLIC SCHOOLS RECEIVE A PER ADA FEE FROM THE CALIFORNIA DEPARTMENT OF EDUCATION FOR EVERY PUPIL ATTENDING THE SCHOOL. ADDITIONALLY, ICEF PUBLIC SCHOOLS ARE ELIGIBLE FOR LOCAL, STATE, FEDERAL PROGRAMS, AND CALIFORNIA LOTTERY FUNDS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt2125606
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PARKER HUDNUT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1GREG BRENDEL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2MARIE MORELOCK

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$85.4$55.2$30.2$55.8$53.2$2.59
2023Detailed filing. Detailed filing data is available for this year.$85.7$58.1$27.6$51.3$50.2$1.17
2022Detailed filing. Detailed filing data is available for this year.$35.7$9.32$26.4$43.4$42.3$1.09
2021Detailed filing. Detailed filing data is available for this year.$33.3$8.03$25.3$41.8$34.2$7.59
2020Detailed filing. Detailed filing data is available for this year.$24.8$7.10$17.7$29.3$34.1$4.82
2019Summary only. Only limited summary data is available for this year.$28.3$5.74$22.5$39.1$36.7$2.39
2018Detailed filing. Detailed filing data is available for this year.$26.3$6.17$20.2$43.9$43.3$0.65
2017Detailed filing. Detailed filing data is available for this year.$25.4$5.94$19.5$46.4$45.2$1.17
2016Detailed filing. Detailed filing data is available for this year.$24.9$6.52$18.3$47.9$42.4$5.47
2015Detailed filing. Detailed filing data is available for this year.$21.8$8.89$12.9$43.0$40.2$2.73
2014Detailed filing. Detailed filing data is available for this year.$21.2$11.1$10.1$39.5$36.6$2.86
2013Summary only. Only limited summary data is available for this year.$26.3$19.0$7.28$45.8$34.8$11.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.7$19.4$3.70$35.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.2$23.7$9.50$40.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.2$26.1$13.0$43.1