2017-05-09T15:11:39-05:00 2016-06-30 GRANT THORNTON LLP 757 THIRD AVENUE 9TH FLOOR NEW YORK NY 10017 990 2015-07-01 453201480 ICAHN CHARTER SCHOOL 7 % RICHARD SANTIAGO ICAH 2127024300 767 FIFTH AVENUE Suite 4700 NEW YORK NY 10153 IRENE MARCH TREASURER 9146147060 2017-05-08 true QI WEN LIANG SR MGR P01270238 2125990100 2015 2021-01-29 14:40:06Z Gail Golden-Icahn 767 Fifth Avenue 4700 NEW YORK NY 10153 2496972 false X www.icahncharterschool7.org X 2013 NY TO USE A RIGOROUS ACADEMIC PROGRAM TO PREPARE STUDENTS WITH SKILLS AND KNOWLEDGE TO PARTICIPATE IN RIGOROUS ACADEMIC ENVIRONMENTS AND DEVELOP A SENSE OF PERSONAL RESPONSIBILITY 7 6 40 8 0 286773 106822 1951917 2388375 90 874 875 901 2239655 2496972 0 0 0 0 1453042 1688981 0 0 0 643974 780081 2097016 2469062 142639 27910 724025 863284 308806 420155 415219 443129 X THE MISSION OF ICAHN CHARTER SCHOOLS IS TO USE THE CORE KNOWLEDGE CURRICULUM, DEVELOPED BY E.D. HIRSCH, TO PROVIDE STUDENTS WITH A RIGOROUS ACADEMIC PROGRAM OFFERED IN AN EXTENDED DAY/YEAR SETTING. STUDENTS WILL GRADUATE ARMED WITH THE SKILLS AND KNOWLEDGE TO PARTICIPATE SUCCESSFULLY IN THE MOST RIGOROUS ACADEMIC ENVIRONMENTS, AND WILL HAVE A SENSE OF PERSONAL AND COMMUNITY RESPONSIBILITY. false false 2100877 2388375 SUPPORT FOR EDUCATION EXPENSES AND GENERAL OPERATION EXPENSES FOR ICAHN CHARTER SCHOOL 7 WHICH PROVIDES GENERAL AND SPECIAL EDUCATION FOR 172 STUDENTS, ON THE AVERAGE 2100877 true true false false false false false false false false true false false true true true true false true false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 0 0 40 true false false false false false false false false false false X 7 6 false false false false false true false true true false false true true true true true true true true false X RICHARD SANTIAGO 7187168105 1525 BROOK AVE BRONX NY 10457 X GAIL GOLDEN-ICAHN CHAIRPERSON/PRESIDENT 1.0 7.0 X X 0 0 0 JULIE CLARK GOODYEAR SECRETARY/TRUSTEE 4.0 56.0 X X 0 308133 15462 SEYMOUR FLIEGEL TRUSTEE 1.0 7.0 X 0 0 0 ROBERT SANCHO TRUSTEE 1.0 6.0 X 0 0 0 KAREN MANDELBAUM TRUSTEE 1.0 6.0 X 0 0 0 EDWARD J SHANAHAN TRUSTEE 1.0 7.0 X 0 0 0 JENNIFER ALSTON-EVANS TRUSTEE/PARENT REPRESENTATIVE 1.0 X 0 0 0 IRENE MARCH TREASURER 1.0 6.0 X 0 0 0 KEITH COZZA ASST. TREASURER - THRU 09/2015 1.0 6.0 X 0 0 0 JEFFREY LITT SUPERINTENDENT 5.0 50.0 X 35888 352082 11000 DANIEL GARCIA DEPUTY SUPERINTENDENT 5.0 50.0 X 22792 223600 11000 RICHARD SANTIAGO DEPY SUPERINTENDENT OF FINANCE 5.0 50.0 X 23429 229859 32715 LAURA M SULLIVAN PRINCIPAL - THRU 03/2016 40.0 X 136910 0 6939 219019 1113674 77116 1 false true false 0 106822 106822 NYSED CAPITATION PAYMENTS 900099 2388375 2388375 2388375 874 874 0 0 0 0 0 0 0 0 0 BOOK FAIR REVENUE 900099 901 901 901 2496972 2388375 1775 0 0 0 0 90385 90385 0 1307910 1084058 223852 21218 12155 9063 159103 121079 38024 110365 92658 17707 0 0 32993 27714 5279 0 0 0 19555 18413 1142 7432 6243 1189 186998 165215 21783 71269 59866 11403 0 0 12415 8398 4017 0 0 522 353 169 0 207488 179876 27612 24820 20849 3971 STAFF DEVELOPMENT 141265 141265 STUDENT SERVICES 65728 65728 FOOD SERVICE 4887 3363 1524 BANK SERVICE CHARGES 4264 2885 1379 445 374 71 2469062 2100877 368185 0 0 0 385818 581331 13514 59430 3401 11894 0 0 0 0 0 0 0 0 41974 50112 608743 494678 279318 114065 0 0 0 0 0 0 0 0 0 46452 724025 863284 220497 295111 0 0 69834 115102 0 0 0 0 0 0 0 0 0 0 18475 9942 308806 420155 X 415219 443129 0 0 0 0 415219 443129 724025 863284 27910 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 465044 385539 79505 143699 109139 34560 114065 DUE FROM SCHOOL DISTRICT 46452 46452 0 OBLIGATION UNDER CAPITAL LEASE 9942 9942 X 2605864 108892 108892 2496972 2496972 2577954 108892 108892 2469062 2469062 FIN 48 FOOTNOTE - PART X, LINE 2 THE CHARTER SCHOOL RECOGNIZES OR DERECOGNIZES A TAX POSITION BASED ON A "MORE LIKELY THAN NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE CHARTER SCHOOL EVALUATED ITS TAX POSITIONS AND CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WITHIN ITS FINANCIAL STATEMENTS. THE TAX YEARS ENDED 2013, 2014, 2015 AND 2016 ARE STILL OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. true true false true true true true false false false false false false false true false true SCHEDULE E, PART I, LINE 3 ICAHN CHARTER SCHOOL 7 IS A PUBLIC SCHOOL. PUBLIC SCHOOLS ARE NOT REQUIRED TO COMPLY WITH REVENUE PROCEDURE 75-50. SCHEDULE E, PART I, LINE 6 THE ICAHN CHARTER SCHOOL 7 RECEIVES FINANCIAL ASSISTANCE FROM THE NEW YORK STATE DEPARTMENT OF EDUCATION, THE NEW YORK CITY DEPARTMENT OF YOUTH AND COMMUNITY DEVELOPMENT, AND THE UNITED STATES DEPARTMENT OF EDUCATION. X X false false false false false false false true false JULIE CLARK GOODYEAR SECRETARY/TRUSTEE 0 262342 0 45000 0 791 0 1835 0 13627 0 323595 0 0 JEFFREY LITT SUPERINTENDENT 29655 290940 6013 58988 220 2154 1018 9982 0 0 36906 362064 0 0 DANIEL GARCIA DEPUTY SUPERINTENDENT 19797 194221 2775 27225 220 2154 1018 9982 0 0 23810 233582 0 0 RICHARD SANTIAGO DEPY SUPERINTENDENT OF FINANCE 19702 193295 3700 36300 27 264 1018 9982 21715 0 46162 239841 0 0 NON-FIXED PAYMENTS - PART I, LINE 7 THE BONUSES PAID TO JEFFREY LITT, DANIEL GARCIA, RICHARD SANTIAGO AND LAURA SULLIVAN ARE DETERMINED AT THE DISCRETION OF ICAHN CHARTER SCHOOL 7 BOARD OF DIRECTORS, AND THE BONUS PAID TO JULIE CLARK GOODYEAR IS DETERMINED AT THE DISCRETION OF THE BOARD OF DIRECTORS OF FOUNDATION FOR A GREATER OPPORTUNITY. THEREFORE, THE BONUSES ARE NON-FIXED PAYMENTS. GOVERNING BODY ELECTIONS - PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES OF THE SCHOOL SEEKS TO INCLUDE A PARENT REPRESENTATIVE ON THE BOARD WHO IS A PARENT OF AN ACTIVE SCHOOL STUDENT AND WHO IS AN OFFICER OF THE SCHOOL PARENTS' ASSOCIATION AND DESIGNATED BY THE ASSOCIATION TO REPRESENT IT. THIS PARENT ASSOCIATION BOARD TRUSTEE MEMBER HAS VOTING RIGHTS. 990 REVIEW - PART VI, LINE 11 THE FINANCIAL STATEMENTS WERE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM, WHICH ALSO REVIEWED THE FORM 990 PRIOR TO ITS COMPLETION AND FILING. THE FORM 990 IS PROVIDED TO THE TRUSTEES UPON COMPLETION OF THE INDEPENDENT AUDIT AND PRIOR TO FILING OF THE FORM 990. CONFLICT OF INTEREST POLICY - PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE SECRETARY OF THE ORGANIZATION SENDS THE OFFICERS, DIRECTORS, AND KEY EMPLOYEES A CONFLICT OF INTEREST DISCLOSURE QUESTIONNAIRE. AFTER BEING FILLED OUT, THE QUESTIONNAIRES ARE RETURNED TO THE SECRETARY, REVIEWED, AND MAINTAINED IN THE ORGANIZATION'S RECORDS FOR THE RELEVANT YEAR. IF THE BOARD OR A COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT AN INTERESTED PERSON HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT WILL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD HIM OR HER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE BOARD DETERMINES THAT THE INTERESTED PERSON HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT WILL TAKE APPROPRIATE ACTION WHICH MAY INCLUDE RECOMMENDATION TO THE BOARD FOR REMOVAL FROM THE BOARD OR TERMINATION OF EMPLOYMENT, AS WELL AS RECONSIDERATION OF WHETHER THE TRANSACTION OR ARRANGEMENT WAS IN THE BEST INTERESTS OF AND FAIR AND REASONABLE TO THE SCHOOL AT THE TIME IT WAS UNDERTAKEN. IF IT IS DETERMINED THAT THE TRANSACTION WAS NOT FAIR AND REASONABLE TO THE SCHOOL, THE SCHOOL IN ITS DISCRETION, MAY VOID THE CONTRACT AND/OR REQUIRE THE INTERESTED PERSON TO RESTORE THE SCHOOL TO THE FINANCIAL POSITION IT WOULD HAVE BEEN IN IF SUCH PERSON HAD BEEN DEALING UNDER THE HIGHEST FIDUCIARY STANDING. COMPENSATION REVIEW PROCESS - PART VI, LINE 15A AND 15B THE COMPENSATION PAID TO TOP MANAGEMENT OFFICIALS, OFFICERS, AND KEY EMPLOYEES IS REASONABLE BASED ON THE DUTIES AND RESPONSIBILITIES OF THE POSITIONS, THE TIME SPENT PERFORMING THEIR DUTIES, AND THEIR PERFORMANCE LEVEL. THIS IS DETERMINED BY CONDUCTING RESEARCH OF COMPENSATION FOR SIMILAR POSITIONS AT SIMILAR TYPES OF SCHOOLS. THE COMPENSATION FOR TOP MANAGEMENT OFFICIALS, OFFICERS, AND KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS ANNUALLY AND INCLUDED IN THE MINUTES. PUBLIC INFORMATION DISCLOSURE - PART VI, LINE 19 THE SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. HOWEVER, FORM 990 IS AVAILABLE UPON REQUEST. REPORTABLE COMPENSATION - PART VII, SECTION A, LINE 1A, COLUMNS D AND E ALL COMPENSATION LISTED IN COLUMNS D AND E FOR JEFFREY LITT, DANIEL GARCIA AND RICHARD SANTIAGO IS PAID AND W-2s ARE ISSUED OUT OF ICAHN CHARTER SCHOOL 1. THESE EMPLOYEES ALSO WORK FOR ICAHN CHARTER SCHOOLS 2-7 (RELATED ORGANIZATIONS). COMPENSATION IS ALLOCATED TO EACH OF THESE SCHOOLS AND ICAHN CHARTER SCHOOL 1 IS REIMBURSED ACCORDINGLY. 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