Kipp Academy Charter School
- Assets
- $4.9m
- Revenue
- $23.8m
- Investments
- $0.0
- Employees
- 84
- Location
- New York, NY
- Founding
- 07/2001
- Data as of
- 06/2021
- 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 06/2021, Kipp Academy Charter School employed 84 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 06/2021, Kipp Academy Charter School generated $23.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $21.6m during the year ending 06/2021. While expenses have increased by 0.8% per year over the past 6 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
2021
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 4,100 STUDENTS ATTENDING KINDERGARTEN THROUGH GRADE 12. IN FY21, THE SCHOOL STARTED IN A REMOTE SETTING AND WENT BACK TO A FULLY IN-PERSON MODEL DURING THE YEAR, CONTINUED INVESTMENTS IN TECHNOLOGY AND OTHER RESOURCES TO SUPPORT REMOTE LEARNING AND SAFE IN-PERSON EDUCATION FOR STUDENTS WERE SUSTAINED DURING THE FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francis Corcoran Principal | Officer | 40 | $174,918 |
David Nieder Teacher | 40 | $155,312 | |
James Manly Superintendent | Officer | 8 | $47,061 |
Barbara Depesa Assistant Prinicipal | 10 | $42,187 | |
Allison Willis Managing Director, Middle Schools | Officer | 10 | $39,748 |
Hugh Chen Teacher, Dir Of Oper, Lower Schools | 10 | $36,487 |
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 |
Kipp Nyc Llc Shared Services Team | 6/29/20 | $2,228,029 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,288,628 |
| All other contributions, gifts, grants, and similar amounts not included above | $105,628 |
| Noncash contributions included in lines 1a–1f | $10,986 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,394,256 |
| Total Program Service Revenue | $19,399,666 |
| Investment income | $53 |
| 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 | $23,793,975 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $371,430 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,836,470 |
| Pension plan accruals and contributions | $681,142 |
| Other employee benefits | $1,821,228 |
| Payroll taxes | $908,463 |
| Fees for services: Management | $2,551,805 |
| Fees for services: Legal | $212,571 |
| Fees for services: Accounting | $21,866 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $139,227 |
| Advertising and promotion | $47,554 |
| Office expenses | $734,547 |
| Information technology | $668,188 |
| Royalties | $0 |
| Occupancy | $533,343 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $61,100 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $171,141 |
| Insurance | $164,367 |
| All other expenses | $66,361 |
| Total functional expenses | $21,607,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,832,390 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $390,668 |
| 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 | $1,480,557 |
| Net Land, buildings, and equipment | $223,291 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,926,906 |
| Accounts payable and accrued expenses | $767,887 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,062,579 |
| Total liabilities | $6,830,466 |
| Net assets without donor restrictions | -$1,950,169 |
| Net assets with donor restrictions | $46,609 |
| 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 | $4,926,906 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kipp Academy Charter School has recieved totaling $1,000,000.
| Awarding Organization | Amount |
|---|---|
Kipp New York Inc New York, NY PURPOSE: OPERATIONS GRANTS | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Hill School Pottstown, PA | $339,549,890 | $89,638,080 |
Regents Of The Mercersburg College Mercersburg, PA | $535,140,744 | $49,172,082 |
Kent School Corporation Kent, CT | $229,105,384 | $52,388,614 |
Hopkins School Incorporated New Haven, CT | $238,380,739 | $44,795,541 |
Middlesex School Concord, MA | $485,283,896 | $51,739,388 |
Trustees Of Thayer Academy Braintree, MA | $161,523,903 | $74,068,471 |
Tabor Academy Marion, MA | $131,644,395 | $42,865,044 |
Berkshire School Inc Sheffield, MA | $360,181,943 | $53,167,690 |
Norwich Free Academy Norwich, CT | $43,430,200 | $37,532,143 |
Blair Academy Blairstown, NJ | $256,075,147 | $54,316,334 |
St Marks School Of Southborough Inc Southborough, MA | $256,704,983 | $26,796,658 |
Beaver Country Day School Inc Chestnut Hill, MA | $85,211,798 | $37,690,859 |