2021-05-06T12:21:37-05:00 2020-06-30 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2019-07-01 020550253 DC PREPARATORY ACADEMY DCPR 2026354590 707 EDGEWOOD STREET NE WASHINGTON DC 20017 LAURA MAESTAS CHIEF EXECUTIVE OFFICER 2026354590 2021-05-05 1 FRANK H SMITH P00639053 2022274000 2021-05-05 2019 2022-09-23 18:48:47Z LAURA MAESTAS 707 EDGEWOOD STREET NE WASHINGTON DC 20017 49242577 0 X WWW.DCPREP.ORG X 2001 DC DC PREP IS A NETWORK OF PUBLIC CHARTER SCHOOLS SERVING STUDENTS IN WASHINGTON, DC. 16 16 473 85 0 0 41519296 47831053 1677513 1173965 315563 208046 33742 29513 43546114 49242577 175149 377500 0 0 28902498 29297163 0 0 248705 13737165 13581111 42814812 43255774 731302 5986803 80940475 85864133 66555690 65994263 14384785 19869870 X DC PREP'S MISSION IS TO BRIDGE THE EDUCATIONAL DIVIDE IN WASHINGTON, DC BY INCREASING THE NUMBER OF STUDENTS FROM UNDERSERVED COMMUNITIES WITH THE ACADEMIC PREPARATION AND PERSONAL CHARACTER TO SUCCEED IN COMPETITIVE HIGH SCHOOLS AND COLLEGES. 0 0 36826972 377500 1173965 D.C. PREPARATORY ACADEMY'S (DC PREP) MISSION IS TO BRIDGE THE EDUCATIONAL DIVIDE IN THE NATION'S CAPITAL BY INCREASING THE NUMBER OF STUDENTS FROM UNDERSERVED COMMUNITIES WITH THE ACADEMIC PREPARATION AND PERSONAL CHARACTER TO SUCCEED IN COMPETITIVE HIGH SCHOOLS AND COLLEGES. DC PREP CURRENTLY OPERATES FIVE TUITION-FREE PUBLIC CHARTER SCHOOLS THAT ARE OPEN TO ANY CHILD IN WASHINGTON, ENROLLING MORE THAN 2,000 STUDENTS IN GRADES PRESCHOOL THROUGH 8TH GRADE. HISTORICALLY, 98% OF DC PREP STUDENTS ARE AFRICAN-AMERICAN AND 2% ARE HISPANIC; OVER 80% OF STUDENTS LIVE IN POVERTY, AS MEASURED BY ELIGIBILITY FOR FREE/REDUCED PRICE MEALS.PARTNERSHIP FOR ASSESSMENT OF COLLEGE AND CAREER READINESS (PARCC) IS THE ANNUAL EDUCATIONAL ASSESSMENT THAT MEASURES PUBLIC SCHOOL STUDENTS' PROGRESS TOWARD MASTERY OF THE COMMON CORE STATE STANDARDS, AND IS CONSIDERED A RELIABLE PREDICTOR OF COLLEGE AND CAREER READINESS. PARCC EVALUATES EACH STUDENT'S PERFORMANCE ON A 5-POINT SCALE, WITH LEVEL 4+ DEMONSTRATING PROFICIENCY. BASED ON PARCC PROFICIENCY LEVELS, DC PREP CONTINUES TO BE THE HIGHEST-PERFORMING NETWORK OF PUBLIC CHARTER SCHOOLS IN WASHINGTON FOR THE EIGHTH CONSECUTIVE YEAR. IN ADDITION, FOR THE FIFTH YEAR IN A ROW, DC PREP HAS THE HIGHEST COMBINED ELA AND MATH PROFICIENCY IN THE CITY FOR STUDENTS IN THE ECONOMICALLY-DISADVANTAGED SUBGROUP - THE VERY CHILDREN IT IS OUR MISSION TO SERVE.EVEN MORE IMPORTANT, AND ALIGNED WITH DC PREP'S MISSION, EVERY DC PREP 8TH GRADE GRADUATE (600+) HAS BEEN ACCEPTED BY A COLLEGE-PREP HIGH SCHOOL, WITH OVER TWO-THIRDS OFFERED ADMISSION TO SELECTIVE SCHOOLS INCLUDING BENJAMIN BANNEKER, CHOATE ROSEMARY HALL, THE FIELD SCHOOL, GEORGETOWN PREP, THE HILL SCHOOL, MARET, PHILLIPS EXETER ACADEMY, ST. ALBANS, SIDWELL FRIENDS SCHOOL, AND SCHOOL WITHOUT WALLS, AMONG OTHERS. OUR STUDENTS HAVE GONE ON TO GRADUATE FROM HIGH SCHOOL AT AN AVERAGE RATE OF 97%, SIGNIFICANTLY HIGHER THAN THE DCPS AVERAGE OF 65% AND THE NATIONAL AVERAGE OF 83%. IN ADDITION, OUR STUDENTS GRADUATE FROM COLLEGE AT ROUGHLY 3X THE RATE OF THEIR PEERS NATIONALLY (27% OF OUR 2009 8TH GRADERS HAVE NOW GRADUATED FROM COLLEGE VS 11% OF STUDENTS FROM FAMILIES IN THE BOTTOM 40% OF HOUSEHOLD WEALTH); BASED ON CURRENT COLLEGE MATRICULATION & COLLEGE PERSISTENCE RATES, WE ANTICIPATE THAT OUR ALUMNI'S COLLEGE GRADUATION RATE WILL CONTINUE TO INCREASE IN THE NEXT FEW YEARS.ULTIMATELY, DC PREP HOPES TO PLAY A MAJOR ROLE IN IMPROVING PUBLIC EDUCATION IN DC AND IN THE COUNTRY. WE ARE PARTICULARLY COMMITTED TO SERVING THE STUDENTS OF WASHINGTON DC'S WARDS 5, 7 & 8. CHILDREN IN THESE WARDS HAVE HISTORICALLY HAD ACCESS TO FEWER HIGH-QUALITY PUBLIC SCHOOL OPTIONS - AN UNACCEPTABLE BARRIER TO OPPORTUNITY. WE BELIEVE THAT ALL STUDENTS HAVE A RIGHT TO A GREAT EDUCATION AND THAT, WITH ACCESS TO EFFECTIVE SCHOOLS, ALL STUDENTS CAN ACHIEVE GREAT OUTCOMES. WE BELIEVE THAT OUR WORK DEMONSTRATES EXACTLY THAT. 36826972 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 94 0 1 473 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DANIEL ENGLENDER 2026354590 707 EDGEWOOD STREET NE WASHINGTON DC 20017 KATIE SEVERN PRESIDENT AND ACADEMIC OFFICER 40.00 X 226444 0 18174 LAURA MAESTAS CHIEF EXECUTIVE OFFICER 40.00 2.00 X 204589 0 11437 DANIEL ENGLENDER CHIEF OPER OFFICER/CFO/TREASURER 40.00 2.00 X 177659 0 15470 TARA O'FLAHERTY SENIOR DIRECTOR OF SCHOOLS 40.00 X 150048 0 15082 SURAJ PATEL CHIEF TALENT OFFICER 40.00 X 142657 0 12651 ERIN WALDRON PRINCIPAL 40.00 X 139822 0 13369 CASSIE PERGAMENT SENIOR DIRECTOR OF PROGRAM 40.00 X 135033 0 8091 SHAUNTE EDMONDS DIRECTOR OF SCHOOLS 40.00 X 132437 0 6438 MICHELA ENGLISH CHAIR 5.00 X X 0 0 0 BRIAN JONES VICE CHAIR 1.00 X X 0 0 0 VALERIE ROCKEFELLER WAYNE SECRETARY 1.00 X X 0 0 0 JENNY ABRAMSON DIRECTOR 1.00 X 0 0 0 PATRICK CLOWNEY DIRECTOR 1.00 1.00 X 0 0 0 HADLEY COOPER DIRECTOR 1.00 X 0 0 0 NICOLE DAVY DIRECTOR 1.00 X 0 0 0 CHARIS DRANT DIRECTOR 1.00 X 0 0 0 LE ROY EAKIN III DIRECTOR 1.00 5.00 X 0 0 0 MERCEDES KEARNEY DIRECTOR 1.00 X 0 0 0 JUDY LANSING KOVLER DIRECTOR 1.00 X 0 0 0 EMILY K LAWSON DIRECTOR 1.00 X 0 0 0 MAURA MARINO DIRECTOR 1.00 X 0 0 0 ARTHUR MCKEE DIRECTOR 1.00 X 0 0 0 LARRY NUSSDORF DIRECTOR 1.00 X 0 0 0 CAROL PENSKY DIRECTOR 1.00 X 0 0 0 1308689 0 100712 16 0 1 0 END-TO-END SOLUTIONS FOR SPECIAL ED 714 G STREET SE 201 WASHINGTON DC 20003 SPECIAL EDUCATION SERVICES 1075562 REVOLUTION FOODS PO BOX 742759 LOS ANGELES CA 90074 FOOD SERVICES 1055382 PMM COMPANIES 15938 DERWOOD ROAD ROCKVILLE MD 20855 JANITORIAL AND FACILITIES MGMT. 549031 SWING EDUCATION INC DEPT LA 24916 PASADENA CA 91185 INSTRUCTIONAL SUPPORT SERVICES 524961 EDOPS 1611 CONNECTICUT AVENUE NW 200 WASHINGTON DC 20009 ACCOUNTING AND FACIL. SUPP. SERVICES 347894 11 43618893 4212160 23427 47831053 CAFETERIA REVENUE 900099 682940 682940 MEDICAID PROGRAM 900099 268267 268267 PARENT PAYMENTS 900099 165383 165383 E-RATE PROGRAM 900099 57272 57272 CHILD DEVELOPMENT CNTR 900099 65 65 38 38 1173965 208046 208046 MISCELLANEOUS 900099 29513 29513 29513 49242577 1173965 0 237559 375000 375000 2500 2500 667548 97640 548264 21644 24181448 21122710 2987115 71623 468107 391249 74556 2302 1971750 1761751 205802 4197 2008310 1720506 280468 7336 241492 19080 222412 518792 518792 108521 82443 26078 531913 372339 79787 79787 193919 165634 27554 731 4402299 4320551 62941 18807 2434691 2294422 136484 3785 207488 177225 29481 782 DIRECT STUDENT COSTS 2779499 2779499 PROF. DEVELOPMENT 575910 401483 167939 6488 DUES/FEES/FINES 490764 419264 69863 1637 AUTHORIZER FEES 402638 402638 693185 406119 283558 3508 43255774 36826972 6180097 248705 15650840 20722232 3671657 2238293 598589 3391746 1670403 608254 363066 322986 75761722 17415888 58738776 58345834 247144 234788 80940475 85864133 2434560 3441853 33745 33745 10595000 10055000 53492385 52038810 0 424855 66555690 65994263 X 13587108 17864530 797677 2005340 14384785 19869870 80940475 85864133 X 5986803 -424855 -76863 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 2059 0 0 2059 0 PART II-B, LINE 1: IN FISCAL YEAR 2020, DC PREP ENGAGED IN THE FOLLOWING GRASSROOTS LOBBYING ACTIVITIES TO INFLUENCE LOCAL EDUCATION LEGISLATION AND INITIATIVES: PRESENTED TO THE WARD 8 ANC REGARDING OPENING OF THE NEW CAMPUS, ATTENDING COMMUNITY MEETINGS TO DISCUSS BUILDING A NEW CAMPUS, AND REQUESTED LETTERS SUPPORTING DC PREP. 4249945 4249945 40630888 7796238 32834650 26835046 6486527 20348519 4045843 3133123 912720 58345834 INTEREST RATE SWAPS LIABILITY 424855 424855 X PART X, LINE 2: DC PREP PERFORMED AN EVALUATION OF UNCERTAINTY IN INCOME TAXES FOR THE YEARS ENDED JUNE 30, 2020 AND 2019, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 IN ALL MATERIALS, DC PREP IS DESCRIBED AS A PUBLIC SCHOOL, OPEN TO ALL ON A SPACE-AVAILABLE BASIS. SCHEDULE E, PART I, LINE 6 DC PREP IS A PUBLIC CHARTER SCHOOL AND RECEIVED FEDERAL FUNDS FROM THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES, U.S. DEPARTMENT OF EDUCATION, AND THE U.S. DEPARTMENT OF AGRICULTURE. 1 DC PREP SUPPORT CORPORATION 707 EDGEWOOD STREET NE WASHINGTON DC 20017 821574134 501(C)(3) 375000 SINKING FUND PAYMENTS FOR AEC'S LOAN 1 PART I, LINE 2: A SCHOLARSHIP COMMITTEE (CURRENTLY MADE UP OF THE CEO, CHIEF DEVELOPMENT OFFICER, DIRECTOR OF HIGH SCHOOL PLACEMENT, DIRECTOR OF PREPNEXT, AND ALUMNI SUPPORT COUNSELORS) REVIEWS REQUESTS FROM THE FAMILIES OF ALUMNI STUDENTS WHO REQUIRE FINANCIAL SUPPORT IN ORDER TO ATTEND AN OUTSTANDING HIGH SCHOOL OR COLLEGE. IN ALL CASES, THE FUNDS ADDRESS THE SHORTFALL BETWEEN THE SCHOLARSHIP OFFER THE ALUMNI STUDENT HAS RECEIVED FROM THE INSTITUTION AND THE ACTUAL COST OF TUITION AND ASSOCIATED COSTS. THE FUNDS ARE SENT DIRECTLY TO THE SCHOOL WITH A LETTER DETAILING THE PURPOSE OF THE FUNDS. X X X 0 0 0 0 0 0 0 0 0 KATIE SEVERN PRESIDENT AND ACADEMIC OFFICER 226444 0 0 0 0 0 11090 0 7084 0 244618 0 0 0 LAURA MAESTAS CHIEF EXECUTIVE OFFICER 204589 0 0 0 0 0 10248 0 1189 0 216026 0 0 0 DANIEL ENGLENDER CHIEF OPER OFFICER/CFO/TREASURER 177659 0 0 0 0 0 8933 0 6537 0 193129 0 0 0 TARA O'FLAHERTY SENIOR DIRECTOR OF SCHOOLS 150048 0 0 0 0 0 7998 0 7084 0 165130 0 0 0 SURAJ PATEL CHIEF TALENT OFFICER 142657 0 0 0 0 0 6854 0 5797 0 155308 0 0 0 ERIN WALDRON PRINCIPAL 139822 0 0 0 0 0 7004 0 6365 0 153191 0 0 0 A DISTRICT OF COLUMBIA 536001131 254839J38 2005-06-15 5500000 REPAY OUTSTANDING NOTES USED TO PURCHASE/RENOVATE THE FIRST SCHOOL BUILDING 0 0 0 B DISTRICT OF COLUMBIA 536001131 254839W25 2007-06-26 9580000 REFINANCE AND FINANCE PURCHASE AND RENOVATION OF THE SECOND SCHOOL BUILDING 0 0 0 A 2100000 5500000 198106 5301894 2005 0 0 1 1 B 2925000 9580000 278787 9301213 2007 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 0 B 0 0 0 1 1 0 0 0 0 A 0 B 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: DISTRICT OF COLUMBIA DATE THE REBATE COMPUTATION WAS PERFORMED: 06/15/2016 ISSUER NAME: DISTRICT OF COLUMBIA DATE THE REBATE COMPUTATION WAS PERFORMED: 06/26/2020 SCHEDULE K SUPPLENTAL INFORMATION SCHEDULE K, PART II, LINE 7: FOR THE 2005 SERIES BOND, INCLUDED IN THE TOTAL ISSUANCE COST FROM PROCEEDS ARE THE FOLLOWING: LETTER OF CREDIT FEES ($51,806), INTEREST RATE CAP ($15,400), AND CREDIT ENHANCEMENT FEES ($3,475). FOR THE 2007 SERIES BOND, INCLUDED IN THE TOTAL ISSUANCE COST FROM PROCEEDS ARE THE FOLLOWING: LETTER OF CREDIT FEES ($80,707) AND CREDIT ENHANCEMENT FEES ($5,519). FORM 990, PART VI, SECTION B, LINE 11B THE INFORMATION TO COMPLETE THE FEDERAL FORM 990 IS PROVIDED TO THE PREPARER BY DC PREP'S CONTRACTED ACCOUNTING SERVICE, IT'S SENIOR DIRECTOR OF FINANCE AND REAL ESTATE, CFO AND CEO. ONCE THE INITIAL DRAFT FEDERAL FORM 990 IS COMPLETED, IT IS CIRCULATED TO THE AUDIT COMMITTEE FOR REVIEW AND ACCEPTANCE, FOLLOWED BY THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF DC PREP'S BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES COMPLETE A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS THAT IS REVIEWED BY THE BOARD CHAIRMAN AND CEO FOR ANY POTENTIAL CONFLICTS. ANY BOARD MEMBER WHO BELIEVES HIMSELF OR HERSELF TO HAVE A CONFLICT OF INTEREST IN A DECISION ON A SPECIFIC MATTER IS REQUIRED TO RECUSE HIMSELF OR HERSELF FROM THE DISCUSSION AND VOTE ON SAID MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE CEO WORKS WITH MEMBERS OF THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS, USING COMPARATIVE COMPENSATION DATA OF ORGANIZATIONS OF SIMILAR SIZE IN THE CHARTER MANAGEMENT ORGANIZATION INDUSTRY, TO DETERMINE ANNUAL COMPENSATION OF OFFICERS AND KEY EMPLOYEES. COMPENSATION OF THE CEO IS PRESENTED TO THE BOARD OF DIRECTORS BY THE CHAIR OF THE GOVERNANCE COMMITTEE IN EXECUTIVE SESSION OF A REGULARLY SCHEDULED BOARD MEETING. THE CEO IS NOT PRESENT FOR THE DISCUSSION. AS IT TAKES PLACE IN EXECUTIVE SESSION, THE NOTES FROM THAT DISCUSSION ARE NOT A PART OF THE REGULAR MINUTES FOR THE BOARD MEETING. THE CHAIR OF THE GOVERNANCE COMMITTEE MAINTAINS A WRITTEN DESCRIPTION OF THAT DISCUSSION THAT INCLUDES THOSE BOARD MEMBERS PRESENT AND ACKNOWLEDGES THEIR UNANIMOUS DECISION. TO DRAW UP ITS RECOMMENDATION FOR COMPENSATION, THE GOVERNANCE COMMITTEE MAKES USE OF DATA OF COMPARABLE ORGANIZATIONS (MULTIPLE-CAMPUS CHARTER SCHOOLS) BASED ON RESEARCH CONDUCTED ON CHARTER SCHOOLS BY EDUCATION ORGANIZATIONS AND GROUPS. THE DATA SHOWS THAT THE CEO'S COMPENSATION IS GENERALLY IN LINE WITH ORGANIZATIONS OF SIMILAR SIZE AND ACHIEVEMENT. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. ALSO, MANY OF THE GOVERNING DOCUMENTS AND THE FINANCIAL STATEMENTS ARE AVAILABLE FROM THE DC PUBLIC CHARTER SCHOOL BOARD, DC PREP'S AUTHORIZER. FORM 990, PART XI, LINE 9: IMPUTED INTEREST -79,661. NET OF DONATED SERVICES REVENUE AND EXPENSES 2,798. DC PREP SUPPORT CORPORATION 707 EDGEWOOD STREET NE WASHINGTON DC 20017 821574134 TO SUPPORT D.C. PREPARATORY ACADEMY DC 501(C)(3) LINE 12A, I DC PREPARATORY ACADEMY 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DC PREP SUPPORT CORPORATION B 375000 COST VALUE