2015-12-17T12:54:13-06:00 2015-06-30 462108854 KENDALL PREBOLA AND JONES LLC PO BOX 259 BEDFORD PA 155220259 990 2014-07-01 204394596 EXCEL ACADEMY PUBLIC CHARTER SCHOOL EXCE 2023730097 2501 MARTIN LUTHER KING JR AVE SE WASHINGTON DC 20020 JOHN HANSEN CHIEF FINANCIAL OFFICER 2023730097 2015-12-17 1 RICHARD M JONES CPA P00621721 8146231880 2015-12-17 X 2014 2016-03-07 17:11:31Z JOHN HANSEN 2501 MARTIN LUTHER KING JR AVE SE WASHINGTON DC 20020 13638557 0 X EXCELPCS.ORG X 2006 DC THE PUBLIC CHARTER SCHOOL OPERATES AS PART OF THE DISTRICT OF COLUMBIA PUBLIC SCHOOL SYSTEM WITH ITS PURPOSE OF PROVIDING AN OUTSTANDING ACADEMIC EDUCATION TO PRE-SCHOOL TO EIGHTH GRADE GIRLS IN THE DISTRICT OF COLUMBIA. IN AN EFFORT TO IMPACT THE INTER-GENERATIONAL PATTERNS OF POVERTY, EXCEL ACADEMY HAS BEEN ORGANIZED TO PROVIDE AN EXCELLENT ACADEMIC AND COMPLEMENTARY SOCIAL AND ENRICHMENT PROGRAM TO PREPARE SCHOLARS TO SUCCEED AND EFFECTIVELY COMPETE IN HIGHLY COMPETITIVE HIGH SCHOOLS, COLLEGES, AND UNIVERSITIES. 7 7 150 10 0 0 1403655 1553822 9333236 12055425 5864 29310 -8453 0 10734302 13638557 0 0 0 0 6234451 7034162 0 0 228103 4382599 5023467 10617050 12057629 117252 1580928 3197388 4688355 977068 1019922 2220320 3668433 X THE PUBLIC CHARTER SCHOOL OPERATES AS PART OF THE DISTRICT OF COLUMBIA PUBLIC SCHOOL SYSTEM WITH ITS PURPOSE OF PROVIDING AN OUTSTANDING ACADEMIC EDUCATION TO PRE-SCHOOL TO EIGHTH GRADE GIRLS IN THE DISTRICT OF COLUMBIA. EXCEL ACADEMY HAS BEEN ORGANIZED TO PROVIDE AN EXCELLENT ACADEMIC AND COMPLEMENTARY SOCIAL AND ENRICHMENT PROGRAM TO PREPARE SCHOLARS TO SUCCEED AND EFFECTIVELY COMPETE IN HIGHLY COMPETITIVE HIGH SCHOOLS, COLLEGES, AND UNIVERSITIES. 0 0 10331723 12055425 THE EXCEL ACADEMY PUBLIC CHARTER SCHOOL STRIVES TO IMPACT THE INTER-GENERATIONAL PATTERNS OF POVERTY BY PROVIDING AN EXCELLENT ACADEMIC PROGRAM WITH A COMPLIMENTARY SOCIAL AND CHARACTER ENRICHMENT PROGRAM. THE CURRICULUM AND PROGRAM STRUCTURE PREPARES SCHOLARS TO SUCCEED AND EQUIPS THEM TO EFFECTIVELY COMPETE IN HIGHLY COMPETITIVE HIGH SCHOOLS, COLLEGES AND UNIVERSITIES. EXCEL ACADEMY PROVIDES A FULL ACADEMIC DAY COMPLEMENTED BY AN INTERNALLY OPERATED AFTER SCHOOL PROGRAM. 10331723 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 33 0 1 150 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JOHN HANSEN 2023730097 2501 MARTIN LUTHER KING JR AVE SE WASHINGTON DC 20020 DEBORAH LOCKHART CHAIR OF THE BOARD 4.00 X X 0 0 0 VALERIE HOLT TREASURER 4.00 X X 0 0 0 PAMELA MONTGOMERY SECRETARY 4.00 X X 0 0 0 ELIZABETH HEIDER VICE-CHAIR 3.00 X 0 0 0 MICHAEL BEALE MEMBER 2.00 X 0 0 0 LAURA CALDWELL MEMBER 2.00 X 0 0 0 DR EDWIN WITT POWELL MEMBER 2.00 X 0 0 0 MALCOLM POOLE MEMBER 2.00 X 0 0 0 BRIDGET BOND MEMBER 2.00 X 0 0 0 VITO JOHN GERMINARIO MEMBER 2.00 X 0 0 0 JOHN BARRON MEMBER 2.00 X 0 0 0 DAYO AKINSHEYE EXECUTIVE PRINCIPAL 40.00 X 7637 0 432 LELA JOHNSON CHIEF OF SCHOOL CULTURE AND STUDENT LIFE 40.00 X 105444 0 7467 PAMELA GREEN EX OFFICIO & CEO 40.00 X 48516 0 2979 PHILIP MITCHELL CHIEF OPERATING OFFICER 40.00 X 79583 0 2535 CLARENCE PINEDA DIRECTOR OF BUSINESS AND FINANCE 40.00 X 85069 0 10976 KAYE SAVAGE EX OFFICIO & CEO 40.00 X X 152187 0 5716 LAVONNE TALIAFERRO-BUNCH CEO/HEAD OF SCHOOL 40.00 X 14281 0 99 492717 0 30204 2 0 1 0 METZ CULINARY MANAGEMENT INC TWO WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICES 726533 LYNCH DEVELOPMENT ADVISORS LLC 1508 U ST NW WASHINGTON DC 20009 FINANCE SERVICES 145944 CHESAPEAKE CHILDREN'S THERAPY CENTER 6506 LOISDALE ROAD SPRINGFIELD VA 22150 CLINICAL SERVICES 101280 3 1488958 64864 26717 1553822 PER-PUPIL FUNDING 900099 11974763 11974763 PROGRAM FEES, ETC 900099 80662 80662 12055425 3556 3556 25754 0 25754 25754 25754 13638557 12055425 0 29310 563816 294490 257510 11816 5609398 4980922 501363 127113 87571 77429 8106 2036 274965 243118 25453 6394 498412 426745 60430 11237 134373 115051 16292 3030 116327 13470 102857 126336 126336 377511 376122 1389 2170 2170 176373 145892 20658 9823 124531 106624 15099 2808 2057797 1761902 249499 46396 278958 238845 33823 6290 26874 23009 3259 606 STUDENT SUPPLIES, ETC. 702281 702281 FOOD SERVICE 593573 593573 0 0 STAFF DEVELOPMENT, ETC 166204 145588 20616 0 STAFF RECRUITING, ETC 90294 64185 25857 252 49865 20307 29256 302 12057629 10331723 1497803 228103 194053 201939 1691921 3201618 305440 224433 96260 71094 24345 11783 1546870 748826 722473 798044 162896 179444 3197388 4688355 951318 1014257 25750 5665 977068 1019922 X 2214363 3657243 5957 11190 2220320 3668433 3197388 4688355 X 1580928 -132815 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 353342 16434 336908 1193528 732392 461136 798044 X 13639207 650 650 13638557 0 13638557 12058279 650 650 12057629 0 12057629 PART X, LINE 2: IN JUNE 2006, THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED FASB ASC NO. 740-10 [FORMERLY INTERPRETATION NO. 48 (FIN 48)], ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH IS AN INTERPRETATION OF ASC 740'S (FORMERLY SFAS NO. 109), ACCOUNTING FOR INCOME TAXES. FASB ASC NO. 740-10 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN EXCEL ACADEMY PUBLIC CHARTER SCHOOL'S FINANCIAL STATEMENTS IN ACCORDANCE WITH ASC 740'S AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FASB ASC NO. 740-10 REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE EXCEL ACADEMY PUBLIC CHARTER SCHOOL'S TAX RETURN TO DETERMINE WHETHER THE TAX POSITIONS HAVE A "MORE-LIKELY-THAN-NOT" PROBABILITY OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. EXCEL ACADEMY PUBLIC CHARTER SCHOOL PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2015, 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. AS OF JUNE 30, 2015, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2011 THROUGH 2013 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE ORGANIZATION FILES TAX RETURNS. IT IS THE CHARTER SCHOOL'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. AS OF JUNE 30, 2015, THE CHARTER SCHOOL HAD NO ACCRUALS FOR INTEREST AND/OR PENALTIES. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 0 SCHEDULE E, PART I, LINE 3 THE SCHOOL IS A PUBLIC CHARTER SCHOOL AND IS OPERATING UNDER A CONTRACT WITH THE D.C. GOVERNMENT. REV. PROC. 75-50 DOES NOT APPLY TO PUBLIC CHARTER SCHOOLS. SCHEDULE E, PART I, LINE 4 THE SCHOOL IS A PUBLIC CHARTER SCHOOL AND IS OPERATING UNDER A CONTRACT WITH THE D.C. GOVERNMENT. REV. PROC. 75-50 DOES NOT APPLY TO PUBLIC CHARTER SCHOOLS. SCHEDULE E, PART I, LINE 6 THE EXCEL ACADEMY PUBLIC CHARTER SCHOOL RECEIVES PUBLIC FUNDS FROM THE DC GOVERNMENT BASED ON THE NUMBER OF STUDENTS THEY ENROLL ACCORDING TO THE UNIFORM PER STUDENT FUNDING FORMULA DEVELOPED BY THE MAYOR AND CITY COUNCIL. THIS PER PUPIL ALLOCATION IS SUPPLEMENTED WITH EXTRA FUNDS FOR STUDENTS WITH SPECIAL NEEDS. SCHEDULE E, PART I, LINE 7 THE SCHOOL IS A PUBLIC CHARTER SCHOOL AND IS OPERATING UNDER A CONTRACT WITH THE D.C. GOVERNMENT. REV. PROC. 75-50 DOES NOT APPLY TO PUBLIC CHARTER SCHOOLS. X X X X 1 0 0 0 0 0 0 0 0 KAYE SAVAGE EX OFFICIO & CEO 99978 0 14709 0 37500 0 0 0 5716 0 157903 0 0 0 PART I, LINE 4A KAYE SAVAGE - CHANGE OF CONTROL PAYMENT IN THE AMOUNT OF $37,500 X 26717 FEDERAL COMMODITIES 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE CHIEF EXECUTIVE OFFICER AND THE CHIEF OPERATING OFFICER REVIEW THE FORM 990 AND THEN FORWARD THE FORM 990 TO THE TREASURER FOR REVIEW AND PRESENTATION TO THE BOARD OF DIRECTORS FOR APPROVAL. ONCE APPROVED THE TREASURER NOTIFIES THE CHIEF EXECUTIVE OFFICER THAT THE 990 IS AUTHORIZED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY FOR ALL BOARD MEMBERS AND KEY EMPLOYEES. THE REVIEW REQUIRES DISCLOSURE OF ANY INTEREST BY ANYONE THAT MAY HAVE A CONFLICT OF INTEREST. AS THERE ARE CHANGES IN BOARD MEMBERS OR KEY EMPLOYEES THE POLICY IS DISCLOSED AND COMPLIED WITH. FORM 990, PART VI, SECTION B, LINE 15 THE CHIEF EXECUTIVE OFFICER'S COMPENSATION IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS AT A REGULAR MEETING. THERE IS A PERFORMANCE REVIEW AND A COMPARISON OF SALARY TO MARKET FOR DETERMINATION OF SALARY. OTHER EMPLOYEES ARE REVIEWED BY THE CHIEF EXECUTIVE OFFICER ANNUALLY REGARDING COMPENSATION AND REPORTED TO THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE AVAILABLE UPON REQUEST FOR INSPECTION AT THE SCHOOL AND A COPY MAY BE OBTAINED AT A COST PER COPY FOR REPRODUCTION. FORM 990, PART XI, LINE 9: ABANDONMENT OF PURCHASE OF LEASEHOLD INTEREST -132,815. FORM 990, PART XI, LINE 9 A PROVISION EXISTS IN THE CURRENT BUILDING LEASE, WHEREBY EXCEL ACADEMY HAD THE OPTION TO PURCHASE THE LEASEHOLD INTEREST IN THE BIRNEY ELEMENTARY SCHOOL PROVIDED THEY NOTIFY THE CHARTER SCHOOL INCUBATOR INITIATIVE WITHIN THREE YEARS OF THE DATE OF THE LEASE AGREEMENT, WHICH WAS SEPTEMBER 14, 2011. EXCEL ACADEMY NOTIFIED THE CHARTER SCHOOL INCUBATOR INITIATIVE OF THEIR DESIRE TO EXERCISE THE OPTION TO PURCHASE ITS LEASEHOLD INTEREST. ACCORDING TO THE LEASE AGREEMENT, THE PURCHASE PRICE IS TO CONSIST OF THE ENTIRE OUTSTANDING PRINCIPAL AND UNPAID ACCRUED INTEREST OWED ON ALL FINANCING AGAINST THE BIRNEY ELEMENTARY SCHOOL AS WELL AS A CANCELLATION FEE OF $467,352. EXCEL ACADEMY INCURRED COSTS OF $47,581 IN THE PROCESS OF OBTAINING FINANCING FROM A LOCAL INSTITUTION FOR THE PURPOSE OF BUYING OUT THE LEASE. THESE COSTS WERE RECORDED AS AN OTHER ASSET IN THE STATEMENT OF FINANCIAL POSITION AS OF JUNE 30, 2014. DURING THE YEAR ENDED JUNE 30, 2015, THE OPTION TO PURCHASE THE LEASEHOLD INTEREST WAS NOT EXERCISED AND THE RELATED FINANCING COSTS IN THE AMOUNT OF $47,581, AS WELL AS ADDITIONAL EXPENSES INCURRED FOR THE PURCHASE OF THE LEASEHOLD INTEREST IN THE AMOUNT OF $85,234, WERE EXPENSED.