Northeast Academy Charter School in Denver, Colorado (CO)

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Northeast Academy Charter School
Employer Identification Number (EIN)412065280
Name of OrganizationNortheast Academy Charter School
In Care of NameConstance R Meadows
Address4895 Peoria St, Denver, CO 80239-2847
SubsectionEducational Organization
Ruling Date10/2005
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Tax Period06/2011
Assets$500,000 to $999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$800,350
Amount of Income$3,736,053
Form 990 Revenue Amount$3,736,053
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities:


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Amount of income in 2011: $3,736,053
This organization: 

 $3,736,053
Other organizations performing similar types of work: 

 $2,542,338

Assets in 2011: $800,350
Northeast Academy Charter School: 

 $800,350
Other organizations performing similar types of work: 

 $807,636

Expenses in 2011: $3,709,181
Northeast Academy Charter School: 

 $3,709,181
Other organizations performing similar types of work: 

 $2,510,452

Income to expenses ratio in 2011: 1.0
Northeast Academy Charter School: 

 1.0
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 100.0%
Northeast Academy Charter School: 

 100.0%
Other organizations performing similar types of work: 

 85.1%

Number of employees in 2007: 31
Northeast Academy Charter School: 

 31
Other organizations performing similar types of work: 

 40

Employees paid over $50,000 in 2007: 9.7%
Northeast Academy Charter School: 

 9.7%
Other organizations performing similar types of work: 

 9.7%

Grants share in income in 2011: 17.0%
Northeast Academy Charter School: 

 17.0%
Other organizations performing similar types of work: 

 1.6%

Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$3,736,053
Contributions, Gifts, Grants and Other Similar Amounts$633,462
Program Service Revenue$3,062,406
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$4,911
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$35,274
Statement of Functional Expenses (for 2011)
Total functional expenses$3,709,181
Compensation of current officers, directors, trustees, and key employees$191,648
Other salaries and wages$1,520,369
Payroll taxes$24,824
Professional fundraising services$0
Other$1,972,340
Balance Sheet (for 2011)
Total assets$800,350
Total liabilities$175,605
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$175,605
Total net assets or fund balances$624,745
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Revenue, Expenses, and Changes in Net Assets or Fund Balances
2007
Total revenue$3,223,677
Contributions, gifts, grants, and similar amounts received$207,167
Contributions to donor advised funds$0
Direct public support$0
Indirect public support$0
Government contributions (grants)$207,167
Program service revenue including government fees and contracts$2,668,797
Membership dues and assessments$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$44,001
Net rental income or (loss)$303,712
Gross rents$303,712
Less: rental expenses$0
Other investment income$0
Gain or (loss) from sales of assets other than inventory$0
Gross amount from sales of assets other than inventory$0
Less: cost or other basis and sales expenses$0
Net income or (loss) from special events and activities$0
Gross revenue$0
Less: direct expenses other than fundraising expenses$0
Gross profit or (loss) from sales of inventory$0
Gross sales of inventory, less returns and allowances$0
Less: cost of goods sold$0
Other revenue$0
Total expenses$3,614,956
Program services$3,614,956
Management and general$0
Fundraising$0
Payments to affiliates$0
Net assets or fund balances at end of year$150,180
Excess or (deficit) for the year$-391,279
Net assets or fund balances at beginning of year$541,459
Other changes in net assets or fund balances$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,614,956$3,614,956$0$0
Grants paid from donor advised funds$0
Other grants and allocations$207,167
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$92,750$92,750$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$1,387,306$1,387,306$0$0
Pension plan contributions not included above$232,918$232,918$0$0
Employee benefits not included above$155,863$155,863$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$35,690$35,690$0$0
Legal fees$12,604$12,604$0$0
Supplies$218,931$218,931$0$0
Telephone$10,271$10,271$0$0
Postage and shipping$1,291$1,291$0$0
Occupancy$575,521$575,521$0$0
Equipment rental and maintenance$31,754$31,754$0$0
Printing and publications$21,654$21,654$0$0
Travel$5,247$5,247$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$237,708$237,708$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$388,281$388,281$0$0
Balance Sheets
2007
Total assets$5,509,926
Cash - non-interest-bearing$650,357
Savings and temporary cash investments$0
Accounts receivable less allowance for doubtful accounts$0
Pledges receivable less allowance for doubtful accounts$0
Grants receivable$0
Receivables from current and former officers, directors, trustees, and key employees$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0
Inventories for sale or use$0
Prepaid expenses and deferred charges$24,218
Investments - publicly-traded securities$0
Investments - other securities$0
Investments - land, buildings, and equipment less accumulated depreciation$4,612,903
Investments - other$0
Land, buildings, and equipment less accumulated depreciation$0
Other assets, including program-related investments$222,448
Total liabilities$5,359,746
Accounts payable and accrued expenses$204,746
Grants payable$0
Deferred revenue$0
Loans from officers, directors, trustees, and key employees$0
Tax-exempt bond liabilities$5,155,000
Mortgages and other notes payable$0
Other liabilities$0
Total liabilities and net assets/fund balances$5,509,926
Total net assets or fund balances$150,180
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2007
Total revenue$3,016,510
Total revenue, gains, and other support per audited financial statements$3,016,510
Other expenses$0
Net unrealized gains on investments$0
Donated services and use of facilities$0
Recoveries of prior year grants$0
Other$0
Other revenue$0
Investment expenses$0
Other$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2007
Total expenses$3,614,956
Total expenses and losses per audited financial statements$3,614,956
Other revenue$0
Donated services and use of facilities$0
Prior year adjustments$0
Losses$0
Other$0
Other expenses$0
Investment expenses$0
Other$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
45$90,000$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings8
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200631
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$3,016,510
Program service revenue
Program service revenue 1000000$000$0$2,417,757
Program service revenue 2000000$000$0$179,981
Program service revenue 3000000$000$0$26,229
Program service revenue 4000000$000$0$12,897
Program service revenue 5000000$000$0$31,933
000000$000$0$2,417,757
000000$000$0$179,981
000000$000$0$26,229
000000$000$0$12,897
000000$000$0$15,784
000000$000$0$16,149
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$44,001
Net rental income or (loss) from real estate
debt-financed property000000$000$0$303,712
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$56,000$0$0
$65,000$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
2006
Total$0
Gifts, grants, and contributions received$0
Membership fees received$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0
Net income from unrelated business activities not included above$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0
Other income$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Summit Academy Incorporated1285 E 13200 S, Draper, UT 84020-9000UT2005-05$6,769,855
2Peabody Charter School Inc3018 Calle Noguera, Santa Barbara, CA 93105-2848CA2009-08$6,466,030
3The Highlander Charter School42 Lexington Ave, Providence, RI 02907-1716RI2003-07$6,404,245
4Cheyenne Classical AcademyPo Box 984, Cheyenne, WY 82003WY2007-08$56,133
5Strive Preparatory Schools, West Denver Preparatory Charter Sch1825 S Federal Blvd, Denver, CO 80219-4905CO2006-03$25,060,079
6Goal Academy107 W 11th St, Pueblo, CO 81003-2801CO2011-04$16,250,695
7Soar Charter School4800 Telluride St Bldg 4, Denver, CO 80249-6803CO2010-04$9,565,378
8The New America School925 S Niagara St Ste 140, Denver, CO 80224-1683CO2004-04$9,372,800
9Atlas Preparatory School Inc1602 S Murray Blvd, Colorado Spgs, CO 80916-4501CO2009-04$7,517,383
10James Irwin Charter Schools5525 Astrozon Blvd, Colorado Spgs, CO 80916-4226CO2014-09$7,402,290
11Flagstaff Academy Inc2040 Miller Dr, Longmont, CO 80501-6748CO2014-07$7,279,454
12Prospect Ridge Academy550 E Thornton Pkway 140, Thornton, CO 80229CO2011-08$6,909,027
13Community Leadership Academy Inc4740 Table Mesa Dr, Boulder, CO 80305-4505CO2014-06$6,237,878
14Rocky Mountain Classical Academy1710 Piros Dr, Colorado Spgs, CO 80915-4307CO2008-03$5,947,227
15Ridgeview Classical Schools1800 S Lemay Ave, Fort Collins, CO 80525-1240CO2001-04$5,890,203
16Union Colony School2000 Clubhouse Dr, Greeley, CO 80634-3643CO2012-02$5,771,334
17Stargate Charter School3951 Cottonwood Lakes Blvd, Thornton, CO 80241-2187CO2002-03$5,032,906
18Lincoln Academy Charter School6980 Pierce St, Arvada, CO 80003CO2001-09$4,829,551
19Woodrow Wilson Academy Elementary School8300 W 94th Ave, Westminster, CO 80021-4590CO2000-12$4,620,375
20Vanguard Classical School Inc, Cp Charter School801 Yosemite St, Denver, CO 80230-6087CO2009-07$4,058,454
Number of organizations performing similar types of work
Alaska3
Arkansas13
Arizona190
California466
Colorado91
Connecticut15
District of Columbia51
Delaware19
Florida310
Georgia65
Hawaii6
Idaho37
Illinois40
Indiana69
Kansas2
Kentucky2
Louisiana69
Massachusetts12
Maryland35
Maine7
Michigan25
Minnesota131
Missouri28
Mississippi2
North Carolina76
Nebraska1
New Hampshire11
New Jersey55
New Mexico3
Nevada5
New York215
Ohio238
Oklahoma10
Oregon91
Pennsylvania126
Rhode Island14
South Carolina51
Tennessee43
Texas181
Utah75
Virginia5
Washington12
Wisconsin52
Wyoming4
Total2,956

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