Kipp Academy Charter School
- Assets
- $3.1m
- Revenue
- $23.7m
- Investments
- $0.0
- Employees
- 104
- Location
- New York, NY
- Founding
- 07/2001
- Data as of
- 06/2022
- EIN
- 11-3550982
Organization Overview
Kipp Academy Charter School is located in New York, NY. The organization was established in 2001. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Kipp Academy Charter School employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kipp Academy Charter School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Kipp Academy Charter School generated $23.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $24.9m during the year ending 06/2022. While expenses have increased by 2.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AND MAINTAIN A PUBLIC SCHOOL CHARTERED BY THE NEW YORK STATE BOARD OF REGENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF THE CHARTER SCHOOL FOR APPROXIMATELY 1,100 STUDENTS ATTENDING KINDERGARTEN THROUGH GRADE 12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Manly Superintendent | Officer | 8 | $42,200 |
Alicia Johnson President / Chief Operating Officer | Officer | 2 | $0 |
Brian Zied Chief Financial Officer | Officer | 2 | $0 |
Natalie Webb Deputy Superintendent | Officer | 5 | $47,849 |
Allison Willis Managing Director, Middle Schools | Officer | 5 | $29,123 |
Barbara Depesa Assistant Prinicipal | 10 | $42,650 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kipp Nyc Llc Shared Services Team | 6/29/20 | $2,228,029 |
Paul Weiss Rifkind Wharton & Garrison Legal Services | 6/29/20 | $1,695,815 |
Mckool Smith Pc Legal Services | 6/29/20 | $831,571 |
Debevoise & Plimpton Llp Legal Services | 6/29/20 | $349,514 |
Bond Shoeneck And King P Llc Legal Services | 6/29/20 | $320,936 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,548,713 |
| All other contributions, gifts, grants, and similar amounts not included above | $42,802 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,591,515 |
| Total Program Service Revenue | $20,027,188 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,658,614 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,832 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $428,663 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,309,406 |
| Pension plan accruals and contributions | $497,537 |
| Other employee benefits | $1,884,291 |
| Payroll taxes | $954,005 |
| Fees for services: Management | $2,772,941 |
| Fees for services: Legal | $811,023 |
| Fees for services: Accounting | $23,014 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $252,619 |
| Advertising and promotion | $36,515 |
| Office expenses | $636,458 |
| Information technology | $862,888 |
| Royalties | $0 |
| Occupancy | $1,392,238 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $36,415 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,718 |
| Insurance | $186,465 |
| All other expenses | $286,683 |
| Total functional expenses | $24,906,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,565,935 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $762,244 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $395,353 |
| Net Land, buildings, and equipment | $392,754 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,116,286 |
| Accounts payable and accrued expenses | $833,002 |
| Grants payable | $0 |
| Deferred revenue | $247,682 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $4,000,000 |
| Other liabilities | $1,186,648 |
| Total liabilities | $6,267,332 |
| Net assets without donor restrictions | -$3,234,327 |
| Net assets with donor restrictions | $83,281 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,116,286 |