2011-11-14T13:11:05-06:00 2011-06-30 Raffa PC 1899 L Street NW Suite 900 Washington DC 20036 990 2010-07-01 020550253 DC Preparatory Academy DCPR 2026354590 707 Edgewood Street NE Washington DC 20017 Emily K Lawson 2026354590 2011-11-14 1 Frank H Smith 2028225000 2011-11-14 2010 2016-03-07 17:11:31Z Emily K Lawson 707 Edgewood Street NE Washington DC 20017 16648534 0 X www.dcprep.org X 2001 DC D.C. Preparatory Academy is a public charter school serving students in Washington, DC. 15 14 211 35 0 0 13630405 16010435 359003 501096 573 -22688 20626 21133 14010607 16509976 23000 21950 0 0 8149225 9478183 0 0 167640 4773749 5179613 12945974 14679746 1064633 1830230 24776654 24619209 17546913 15472188 7229741 9147021 X D.C. Preparatory Academy's (DC Prep) mission is to provide early childhood, elementary, and middle school students in Washington, DC, with an outstanding education emphasizing academics, character and leadership. 0 0 12348288 21950 501096 In the fall of 2003, DC Prep opened its first campus: a small middle school with 100 students in 4th and 5th grade. Over the past eight years the school has expanded significantly, growing to three campuses and, in the 2011-12 school year, will serve 1,000 students. The Edgewood Elementary Campus enrolls children in preschool - 3rd grade; the Edgewood Middle Campus serves 4th-8th graders. DC Prep's newest campus, Benning Elementary, currently enrolls children in preschool - 2nd grade and will add 3rd grade next year.DC Prep's students have shown significant academic gains. On the 2011 DC-CAS, 72% of students overall were proficient or advanced in reading and 85% proficient or advanced in math. Our 8th graders - the students who have been at DC Prep the longest - posted even more impressive scores, with 100% proficient or advanced in reading, and 100% achieving those levels in math. Another powerful metric of our students' academic and personal achievement is their high school and college acceptance rate. The majority of the class of 2011 will attend a selective college-prep high school. Schools to which DC Prep students were offered admission include Georgetown Visitation, The Field School, Stuart Hall, Foxcroft Academy, Don Bosco Cristo Rey, DeMatha Catholic High School, School Without Walls, and Banneker High School. The remaining students are enrolling in charter schools known for their rigor and college focus. In the spring of 2011, DC Prep's first class of alumni graduated from high school. The majority of the class enrolled in college for the fall of 2011. DC Prep's alumni have been accepted to 42 different colleges and universities, including George Mason, Georgetown, University of Virginia, William and Mary, Hampton, Morehouse, Rochester Institute of Technology, Pine Manor, North Carolina A&T, and Cal Arts.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. 12348288 1 1 0 0 0 0 0 0 0 1 0 0 0 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 0 1 46 0 1 211 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 2.00 X X 0 0 0 S Joseph Bruno CPA 1.00 X X 0 0 0 Arthur McKee PhD 2.00 X X 0 0 0 Katherine Boone 1.00 X 0 0 0 Lisa Dixon 1.00 X 0 0 0 Michela English 1.00 X 0 0 0 Patrick Gross 1.00 X 0 0 0 Deborah McGriff 1.00 X 0 0 0 Carol Pensky 1.00 X 0 0 0 Jerome Powell 1.00 X 0 0 0 Eric Price 1.00 X 0 0 0 Jonathan Prince 1.00 X 0 0 0 Rev Donald Robinson 1.00 X 0 0 0 Valerie R Wayne 1.00 X 0 0 0 Emily K Lawson 40.00 X X 144943 0 6938 David Leahy 40.00 X 160505 0 13402 Wendy Scott 40.00 X 88164 0 9731 Cheaz Porter 40.00 X 109817 0 17744 Elizabeth Ibby Jeppson 40.00 X 111424 0 5303 Katie Severn 40.00 X 112593 0 19713 727446 0 72831 5 0 1 0 Revolution Foods 8383 Capwell Drive San Francisco CA 94621 Student meals 513316 End to End Solutions 714 G Street SE Suite 201 Washington DC 20003 Special education group therapy 422336 Service Master JGW 7941-L2 Angus Court Springfield VA 22153 Janitorial services 262136 GoldStar LLC 2000 P Street Suite 620 Washington DC 20036 Accounting services 163065 Dynamic Network Solutions 5067 Lake Circle West Columbia MD 21044 IT consulting services 128044 5 14405490 1604945 128659 16010435 Cafeteria revenue 900099 329535 329535 Parent payments 900099 132900 132900 E-rate program 900099 19849 19849 Medicaid program 900099 15500 15500 School store sales 900099 3312 3312 501096 845 845 115025 138558 -23533 -23533 -23533 Other income 900099 21133 21133 21133 16509976 501096 0 -1555 21950 21950 362179 14276 328728 19175 7791353 6768566 946703 76084 120798 105324 15209 265 534976 461723 68223 5030 668877 562691 99000 7186 66709 18333 48376 239993 239993 68178 62278 5900 238152 166706 35723 35723 142220 118692 21876 1652 1591410 1560597 23110 7703 3239 624 2313 302 616987 556831 56565 3591 67188 56072 10335 781 Direct student costs 1468306 1468306 0 0 Dues/Fees/Fines 318022 244650 73372 0 Prof. development 127573 108191 18134 1248 Other expenses 97751 56233 39266 2252 Staff recuriting/hiring 69579 58523 10308 748 64306 64306 14679746 12348288 2163818 167640 41555 4556751 5015484 392070 1618376 1698181 475612 850498 269440 280895 19258558 2902995 16810528 16355563 545659 485251 24776654 24619209 861707 899576 191504 302211 14490000 14130000 1776251 227451 140401 17546913 15472188 X 5524887 7385639 1704854 1761382 7229741 9147021 24776654 24619209 X 1830230 87050 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1685820 1685820 16435935 2026377 14409558 8670 2890 5780 1128133 873728 254405 16355563 Interest rate swap liability 140401 140401 16509976 14679746 1830230 87050 87050 1917280 16786982 87050 189956 277006 16509976 0 16509976 14869702 189956 189956 14679746 0 14679746 Description of Uncertain Tax Positions Under FIN 48: Part X: DC Prep performed an evaluation of uncertain tax positions for the year ended June 30, 2011, and determined that there are 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 Explanation of Nondiscriminatory Policy Publication 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. Explanation of Government Financial Assistance Schedule E, Part I, Line 6 DC Prep is a public charter school and received federal funds from the U.S. Department of Education and the United States Congress through the District of Columbia Office of State Superintendent of Education. DC Prep also received federal funds from the Federal Communications Commission, U.S. Department of Health and Human Services, and the U.S. Department of Agriculture through the D.C. Public Schools, Division of Food & Nutrition Services, State Agency. 1 Scholarship award 5 21950 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, 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 0 0 0 0 0 0 0 1 0 Emily K Lawson 127443 0 17500 0 0 0 6276 0 662 0 151881 0 0 0 David Leahy 145505 0 15000 0 0 0 8092 0 5310 0 173907 0 0 0 Part I, Line 7 Any bonuses/merit pay received by officers and highest paid employees listed in Form 990, Part VII during the year ended June 30, 2011, were based on performance as identified by their supervisors and by the board of directors in the case of the CEO. District of Columbia 536001131 254839J38 2005-06-15 5500000 Repay outstanding notes used to purchase/renovate the first school building 0 0 0 District of Columbia 536001131 254839W25 2007-06-26 9580000 Refinance and finance purchase and renovation of the second school building 0 0 0 5500000 198106 5301894 2005 0 0 1 1 9580000 278787 9301213 2007 0 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 0 1 0 0 0 0 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). In addition, the legal fees for the letter of credit provider's council in the amount of $42,000 were included in the bond yield calculation as a qualified guarantee. 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 5 115025 Fair market value X 1 4964 Fair market value X Carpet 1 8670 Fair market value 0 0 0 Form 990, Part VI, Section B, line 11 Information to complete the Form 990 is provided to the preparer by DC Prep's contracted accounting service, its COO and CEO. Once the initial draft is completed, the 990 is circulated to the Finance and Real Estate Committee of the Board of Directors for review. The Finance and Real Estate Committee is responsible for recurring in-depth review of the organization's financials. The 990 is also circulated to the full board prior to submission. 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. The organization also reminds employees of the policy in the employee manual, which employees acknowledge receiving each year. 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. 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 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. No members present in the session had a conflict of interest with the arrangement. To draw up its recommendation for compensation, the Governance Committee made use of data of comparable organizations (multiple-campus charter schools) drawn up by NewSchools Venture Fund, an independent 501(c)(3) which makes charitable grants to high performing education organizations and which conducts research on charter schools. The data showed that the CEO's compensation was 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. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 87,050.