2015-01-29T13:22:59-06:00 2014-06-30 521511275 RAFFA PC 1899 L STREET NW SUITE 900 WASHINGTON DC 20036 990 2013-07-01 020550253 DC PREPARATORY ACADEMY DCPR 2026354590 707 EDGEWOOD STREET NE WASHINGTON DC 20017 EMILY LAWSON FOUNDER AND CHIEF EXECUTIVE OFFICER 2026354590 2015-01-29 1 FRANK H SMITH P00639053 2028225000 2015-01-29 2013 2016-02-25 16:41:14Z EMILY LAWSON 707 EDGEWOOD STREET NE WASHINGTON DC 20017 22655806 0 X WWW.DCPREP.ORG X 2001 DC DC PREP IS A NETWORK OF PUBLIC CHARTER SCHOOLS SERVING STUDENTS IN WASHINGTON, DC. 15 14 300 54 0 0 20347740 21661836 900160 991657 609 587 35873 1726 21284382 22655806 20183 42457 0 0 13949039 16104731 0 0 243963 5934191 6097549 19903413 22244737 1380969 411069 27935635 49630589 15213322 36558455 12722313 13072134 X D.C. PREPARATORY ACADEMY'S (DC PREP) MISSION 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 & COLLEGES. 0 0 18228656 42457 991655 IN THE FALL OF 2003, DC PREP - A PUBLIC CHARTER SCHOOL - OPENED ITS FIRST CAMPUS: A SMALL MIDDLE SCHOOL WITH 100 STUDENTS IN 4TH AND 5TH GRADE. OVER THE PAST DECADE THE SCHOOL HAS EXPANDED SIGNIFICANTLY, GROWING TO FOUR CAMPUSES SERVING 1,300 STUDENTS IN PRESCHOOL - 8TH GRADE. NINETY-EIGHT PERCENT 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. DC PREP'S STUDENTS ARE DRAMATICALLY OUTPERFORMING THEIR PEERS IN BOTH REGULAR PUBLIC AND CHARTER SCHOOLS, AND BASED ON DATA FROM THE 2014 DC-CAS, DC PREP IS THE HIGHEST-PERFORMING NETWORK OF CHARTER SCHOOLS IN WASHINGTON FOR THE THIRD CONSECUTIVE YEAR. THE EDGEWOOD MIDDLE CAMPUS CONTINUES TO BE THE #1 PUBLIC CHARTER SCHOOL IN THE CITY, AND OUR EDGEWOOD ELEMENTARY, A 2013 NATIONAL BLUE RIBBON SCHOOL, IS THE #1 PUBLIC CHARTER ELEMENTARY SCHOOL IN THE CITY. THE OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION DESIGNATED THREE DC PREP CAMPUSES THE EDGEWOOD MIDDLE CAMPUS, BENNING MIDDLE CAMPUS, AND BENNING ELEMENTARY CAMPUS AS "REWARD" SCHOOLS, THE HIGHEST LEVEL OF DISTINCTION; AND, THE DC PUBLIC CHARTER SCHOOL BOARD'S LIST OF THE TEN HIGHEST-PERFORMING CHARTER SCHOOLS IN THE CITY INCLUDES EDGEWOOD MIDDLE CAMPUS, BENNING MIDDLE CAMPUS, AND EDGEWOOD ELEMENTARY CAMPUS, AND THE LIST OF THE TOP TEN SCHOOLS WITH THE GREATEST ONE-YEAR GAINS INCLUDES BENNING ELEMENTARY CAMPUS. ANOTHER POWERFUL METRIC OF OUR STUDENTS' ACADEMIC AND PERSONAL ACHIEVEMENT IS THEIR HIGH SCHOOL AND COLLEGE ACCEPTANCE RATE. TO DATE, EVERY DC PREP GRADUATE (N=275) HAS BEEN OFFERED ADMISSION TO A COLLEGE-PREP HIGH SCHOOL AND OVER 60% HAVE BEEN OFFERED ADMISSION TO A SELECTIVE INDEPENDENT, PAROCHIAL, OR PUBLIC MAGNET SCHOOL. THE REMAINING STUDENTS ENROLL IN CHARTER SCHOOLS KNOWN FOR THEIR RIGOR AND COLLEGE FOCUS. ADDITIONALLY, 95% OF THE STUDENTS IN DC PREP'S FIRST FOUR 8TH GRADE GRADUATING CLASSES (CLASSES OF 2007, 2008, 2009, AND 2010) HAVE EARNED THEIR HIGH SCHOOL DIPLOMAS (ALMOST DOUBLE THE GRADUATION RATE OF STUDENTS IN DCPS), AND 80% HAVE MATRICULATED TO COLLEGE, ENROLLING IN SCHOOLS SUCH AS GEORGE MASON, GEORGETOWN, GETTYSBURG, HAMPTON, VANDERBILT, UNIVERSITY OF MARYLAND, AND HOWARD. WE INTEND TO CONTINUE TO INCREASE THE PERCENTAGE OF STUDENTS IN EACH GRADUATING CLASS WHO ARE BOUND FOR THE HIGHEST CALIBER HIGH SCHOOLS, ENSURING THAT ALL STUDENTS ARE ON TRACK FOR BRIGHT ACADEMIC FUTURES IN RIGOROUS HIGH SCHOOLS AND COLLEGES. 18228656 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 35 0 1 300 1 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X WENDY SCOTT 2026354590 707 EDGEWOOD STREET NE WASHINGTON DC 20017 LEROY TERRY EAKIN III CHAIR 5.00 X X 0 0 0 ERIC PRICE TREASURER 1.00 X X 0 0 0 ARTHUR MCKEE PHD SECRETARY 1.00 X X 0 0 0 JENNY ABRAMSON DIRECTOR 1.00 X 0 0 0 BOBBY BALDWIN DIRECTOR 1.00 X 0 0 0 KATHERINE BOONE DIRECTOR 1.00 X 0 0 0 LISA DIXON DIRECTOR 1.00 X 0 0 0 MICHELA ENGLISH DIRECTOR 1.00 X 0 0 0 PATRICK GROSS DIRECTOR 1.00 X 0 0 0 BRIAN JONES DIRECTOR 1.00 X 0 0 0 JUDY KOVLER DIRECTOR 1.00 X 0 0 0 MAURA MARINO DIRECTOR 1.00 X 0 0 0 CAROL PENSKY DIRECTOR 1.00 X 0 0 0 VALERIE R WAYNE DIRECTOR 1.00 X 0 0 0 EMILY K LAWSON - FOUNDERCEO CEO (10/2013 TO PRESENT) 40.00 X X 145486 0 7372 ENRIQUE CRUZ CEO (09/2012-10/2013) 40.00 X 225839 0 662 WENDY SCOTT CHIEF OPERATING OFFICER 40.00 X 153737 0 12688 KATIE SEVERN CHIEF ACADEMIC OFFICER 40.00 X 174003 0 14346 NICOLE BRYAN PRINCIPAL/MANAGING DIRECTOR OF EARLY CHILDHOOD 40.00 X 137037 0 11018 ELIZABETH IBBY JEPPSON DIRECTOR OF RESOURCE DEVEL 40.00 X 120842 0 4715 RAYMOND WEEDEN PRINCIPAL 40.00 X 120211 0 10473 TARA O'FLAHERTY LEADERSHIP SUPPORT SPECIALIST 40.00 X 113563 0 6438 CASSIE PERGAMENT PRINCIPAL 40.00 X 101376 0 12107 1292094 0 79819 9 0 1 0 SHINBERG LEVINAS 4733 BETHESDA AVENUE SUITE 550 BETHESDA MD 20814 ARCHITECTURAL AND ENGINEERING SERVICES 710156 REVOLUTION FOODS PO BOX 742759 LOS ANGELES CA 90074 FOOD SERVICES 602840 END-TO-END SOLUTIONS FOR SPECIAL EDUCATI 714 G ST SE 201 WASHINGTON DC 20003 SPECIAL EDUCATION SERVICES 325206 SERVICEMASTER JGW 7491-L2 ANGUS COURT SPRINGFIELD VA 22153 JANITORIAL SERVICES 292322 GOLDSTAR LLC 2000 P STREET NW SUITE 620 WASHINGTON DC 20036 ACCOUNTING SERVICES 188260 7 20231752 1430084 214161 21661836 CAFETERIA REVENUE 900099 526447 526447 PARENT PAYMENTS 900099 186427 186427 CHILD DEVELOPMENT CNTR 900099 143903 143903 TANF PROGRAM 900099 98685 98685 E-RATE PROGRAM 900099 22444 22444 13751 13751 991657 587 587 OTHER INCOME 900099 1726 1726 1726 22655806 991657 0 2313 42457 42457 718923 95236 589700 33987 13132554 11125993 1905495 101066 265451 219255 42988 3208 884181 762212 116320 5649 1103622 908426 185382 9814 77000 26000 51000 229119 229119 19079 16500 2579 371741 260217 55759 55765 301123 244790 53400 2933 1880516 1843325 27894 9297 770517 669719 97026 3772 130271 105900 23102 1269 DIRECT STUDENT COSTS 1425994 1425994 DUES/FEES/FINES 286669 227358 57517 1794 STAFF RELATED EXPENSES 225387 129860 88833 6694 PROF. DEVELOPMENT 224121 135642 82415 6064 156012 6272 149668 72 22244737 18228656 3772118 243963 7648771 7929999 400122 410617 1228788 832433 787239 1556424 452605 345976 40698619 4686843 16827248 36011776 590862 2543364 27935635 49630589 1625671 11690012 225497 352395 13360000 12950000 0 11502646 2154 63402 15213322 36558455 X 11015235 11903610 1707078 1168524 12722313 13072134 27935635 49630589 411069 -61248 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1685820 1685820 17226404 3336091 13890313 19990997 73736 19917261 1795398 1277016 518382 36011776 DEFERRED FINANCING COSTS, NET 922281 DEPOSITS 221083 DEBT SERVICE RESERVE FUND 1400000 2543364 INTEREST RATE SWAP LIABILITY 63402 63402 X 22632926 -61248 38368 -22880 22655806 0 22655806 22283105 38368 38368 22244737 0 22244737 PART X, LINE 2: DC PREP PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2014, 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 U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES, U.S. DEPARTMENT OF EDUCATION, AND THE U.S. DEPARTMENT OF AGRICULTURE. 1 HIGH SCHOOL SCHOLARSHIPS 8 42457 PART I, LINE 2: A SCHOLARSHIP COMMITTEE (CURRENTLY MADE UP OF THE CEO, DIRECTOR OF RESOURCE DEVELOPMENT, DIRECTOR OF ALUMNI SUPPORT, AND DIRECTOR OF HIGH SCHOOL PLACEMENT) REVIEWS REQUESTS FROM THE FAMILIES OF STUDENTS WHO REQUIRE FINANCIAL SUPPORT IN ORDER TO ATTEND AN OUTSTANDING HIGH SCHOOL. IN ALL CASES, THE FUNDS ADDRESS THE SHORTFALL BETWEEN THE SCHOLARSHIP OFFER THE 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 MONEY. X X X 1 0 0 0 0 0 0 1 0 EMILY K LAWSON - FOUNDERCEO CEO (10/2013 TO PRESENT) 145486 0 0 0 0 0 7206 0 166 0 152858 0 0 0 ENRIQUE CRUZ CEO (09/2012-10/2013) 185214 0 0 0 40625 0 0 0 662 0 226501 0 0 0 WENDY SCOTT CHIEF OPERATING OFFICER 143737 0 10000 0 0 0 7973 0 4715 0 166425 0 0 0 KATIE SEVERN CHIEF ACADEMIC OFFICER 154003 0 20000 0 0 0 9187 0 5159 0 188349 0 0 0 PART I, LINE 4A DURING THE YEAR ENDED JUNE 30, 2014, ENRIQUE CRUZ, CEO, RECEIVED A SEVERANCE PAYMENT OF $40,625. PART I, LINE 7 ALL BONUSES PAID TO DCPREP'S OFFICERS AND HIGHEST COMPENSATED EMPLOYEES LISTED IN FORM 990, PART VII WERE BASED ON AN APPRAISAL OF HIS/HER PERFORMANCE FOR THE YEAR ENDED JUNE 30, 2014. 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 5500000 198106 5301894 2005 0 0 1 1 B 9580000 278787 9301213 2007 0 0 1 1 A 0 0 0 1 1 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 1 1 0.00000 0.00000 0.00000 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: 07/29/2014 ISSUER NAME: DISTRICT OF COLUMBIA DATE THE REBATE COMPUTATION WAS PERFORMED: 07/29/2014 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). X 10923 FMV X 1 24670 FMV X IMPUTED INT. 1 178568 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 INFORMATION TO COMPLETE THE FEDERAL FORM 990 IS PROVIDED TO THE PREPARER BY DC PREP'S CONTRACTED ACCOUNTING SERVICE, ITS COO AND CEO. ONCE THE INITIAL DRAFT FORM 990 IS COMPLETED, IT IS CIRCULATED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF THE DIRECTORS AND KEY EMPLOYEES COMPLETE A CONFLICT OF INTEREST FORM ON AN ANNUAL BASIS THAT IS REVIEWED BY THE CEO FOR ANY POTENTIAL CONFLICTS. ANY BOARD MEMBER WHO BELIEVES HIM OR HERSELF TO HAVE A CONFLICT OF INTEREST IN A DECISION ON A SPECIFIC MATTER IS REQUIRED TO RECUSE HIM OR HERSELF FROM THE DISCUSSION AND VOTE ON SAID MATTER. DC PREP ALSO REMINDS EMPLOYEES OF THE POLICY IN THE EMPLOYEE MANUAL, WHICH EMPLOYEES ACKNOWLEDGE RECEIVING EACH YEAR. 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 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 HAS SINCE PROVIDED 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.