2023-05-15T14:49:14-05:00 2022-06-30 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2021-07-01 020550253 DC PREPARATORY ACADEMY DCPR 2026354590 707 EDGEWOOD STREET NE WASHINGTON DC 20017 LAURA MAESTAS CHIEF EXECUTIVE OFFICER 2026354590 2023-05-12 1 LAURA MAESTAS 999009999 FRANK H SMITH P00639053 2022274000 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z LAURA MAESTAS 707 EDGEWOOD STREET NE WASHINGTON DC 20017 91716858 0 X WWW.DCPREP.ORG X 2001 DC DC PREP IS A NETWORK OF PUBLIC CHARTER SCHOOLS SERVING STUDENTS IN WASHINGTON, DC. 14 14 442 85 0 0 47794694 52281061 652291 1713360 16381 8270970 47503 59284 48510869 62324675 392265 400484 0 0 29479483 33941716 0 0 429034 12904303 18944123 42776051 53286323 5734818 9038352 90604234 111305629 64821796 72029070 25782438 39276559 X DC PREP'S MISSION IS TO BRIDGE THE EDUCATIONAL DIVIDE IN WASHINGTON, DC BY INCREASING THE NUMBER OF STUDENTS FROM UNDERSERVED COMMUNITIES WITH THE ACADEMIC PREPARATION AND PERSONAL CHARACTER TO SUCCEED IN COMPETITIVE HIGH SCHOOLS AND COLLEGES. 0 0 44911257 400484 583531 AT DC PREP, OUR VISION IS THAT EVERY CHILD WILL BE PREPARED ACADEMICALLY AND SOCIALLY FOR A SUCCESSFUL FUTURE. WE HAVE BIG DREAMS FOR OUR STUDENTS AND MAKE THOSE DREAMS A REALITY THROUGH DAILY EFFORT, FOCUS AND SUPPORT OF ONE ANOTHER AND OUR STUDENTS AND FAMILIES. DC PREP CURRENTLY OPERATES SIX TUITION-FREE PUBLIC CHARTER SCHOOLS THAT ARE OPEN TO ANY CHILD IN WASHINGTON, ENROLLING MORE THAN 2,100 STUDENTS IN GRADES PRESCHOOL THROUGH 8TH GRADE. HISTORICALLY, 89% OF DC PREP STUDENTS ARE AFRICAN-AMERICAN AND 7% ARE HISPANIC; OVER 80% OF STUDENTS LIVE IN POVERTY, AS MEASURED BY ELIGIBILITY FOR FREE/REDUCED PRICE MEALS.DC PREP HAS A TWIN FOCUS ON HIGH QUALITY ACADEMICS AND SOCIAL-EMOTIONAL GROWTH. DURING OUR 20 YEARS AS A CHARTER NETWORK, WE HAVE ACHIEVED SIGNIFICANT RESULTS ACROSS THREE KEY AREAS: QUALITY REPORTS, OSSE REPORT CARDS, AND ALUMNI SUCCESS. EACH YEAR, THE DC PUBLIC CHARTER SCHOOL BOARD ISSUES AN OVERALL RANKING OF SCHOOLS' ACADEMIC AND CULTURE PROGRESS, RANKING EACH SCHOOL BETWEEN TIER 1 (THE HIGHEST) AND TIER 3 (THE LOWEST). ALL FIVE DC PREP CAMPUSES EARNED A TIER 1 RANKING ON THE 2019 SCHOOL QUALITY REPORTS, THE HIGHEST RANKING. ADDITIONALLY, AEC RECEIVED ONE OF THE HIGHEST SCORES IN THE CITY. THE DC OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION RELEASES AN ANNUAL ASSESSMENT OF SCHOOL PERFORMANCE. THIS SERVES AS A COMPREHENSIVE OVERVIEW OF HOW SCHOOLS ARE PREPARING STUDENTS FOR OVERALL SUCCESS. IN ITS INAUGURAL YEAR, OSSE AWARDED ALL ELIGIBLE DC PREP CAMPUSES FOUR STARS. ALL DC PUBLIC CHARTER SCHOOLS MUST UNDERGO THE ACCREDITATION PROCESS EVERY FIVE YEARS TO REMAIN ELIGIBLE FOR OPERATION IN THE CITY. THE ACCREDITATION PROCESS IS CONDUCTED BY AN INDEPENDENT THIRD-PARTY ACCREDITATION ORGANIZATION TO EVALUATE AN LEA'S PERFORMANCE AGAINST A NUMBER OF PERFORMANCE STANDARDS EVALUATING LEADERSHIP, LEARNING, AND RESOURCE CAPACITY. IN ITS MOST RECENT ACCREDITATION REVIEW BY COGNIA, DC PREP EARNED AN INDEX OF EDUCATION QUALITY (IEQ) SCORE OF 387 OUT OF A POSSIBLE 400 POINTS. THE FIVE-YEAR AVERAGE OF INSTITUTIONS IN COGNIA'S ACCREDITATION NETWORK IS 278-283.DC PREP IS COMMITTED TO THE SUCCESS OF OUR ALUMNI IN HIGH SCHOOL AND THROUGH COLLEGE AND CAREER. OUR GOAL IS FOR ALL OF OUR STUDENTS TO MOVE TO AND THROUGH A STRONG POST-SECONDARY PATHWAY AND INTO AN INTEREST-ALIGNED CAREER THAT ALLOWS FOR ECONOMIC SELF-SUFFICIENCY. PREPNEXT SUPPORTS ALL DC PREP ALUMNI FOR 10 YEARS AFTER 8TH-GRADE GRADUATION THROUGHOUT THEIR EDUCATIONAL JOURNEYS AND THE START OF THEIR CAREERS, FOCUSING ESPECIALLY ON TIMES OF TRANSITION: 8TH TO 9TH GRADE, HIGH SCHOOL TO HIGHER EDUCATION, AND SCHOOL TO CAREER. EVERY DC PREP 8TH GRADE GRADUATE (600+) HAS BEEN ACCEPTED BY A COLLEGE-PREP HIGH SCHOOL, WITH OVER TWO-THIRDS OFFERED ADMISSION TO SELECTIVE SCHOOLS INCLUDING BENJAMIN BANNEKER, CHOATE ROSEMARY HALL, THE FIELD SCHOOL, GEORGETOWN PREP, THE HILL SCHOOL, MARET, PHILLIPS EXETER ACADEMY, ST. ALBANS, SIDWELL FRIENDS SCHOOL, AND SCHOOL WITHOUT WALLS, AMONG OTHERS. OUR STUDENTS HAVE GONE ON TO GRADUATE FROM HIGH SCHOOL AT AN AVERAGE RATE OF 95%, SIGNIFICANTLY HIGHER THAN THE DCPS AVERAGE OF 74% AND THE NATIONAL AVERAGE OF 84%. IN ADDITION, OF OUR ALUMNI WHO MATRICULATED TO COLLEGE, 42% SINCE 2007 AND 65% OF THE COLLEGE MATRICULANTS FROM OUR MOST RECENT CLASS HAVE GRADUATED COLLEGE WITHIN 6 YEARS, COMPARED TO 55% NATIONWIDE AND 11% FOR FIRST-GENERATION, LOW-INCOME STUDENTS OF COLOR. BASED ON CURRENT COLLEGE MATRICULATION & COLLEGE PERSISTENCE RATES, WE ANTICIPATE THAT OUR ALUMNI'S COLLEGE GRADUATION RATE WILL CONTINUE TO INCREASE IN THE NEXT FEW YEARS. 44911257 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 121 0 1 442 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DANIEL ENGLENDER 2026354590 707 EDGEWOOD STREET NE WASHINGTON DC 20017 PATRICK CLOWNEY CHAIR 5.00 X X 0 0 0 HADLEY COOPER SECRETARY 1.00 X X 0 0 0 JENNY ABRAMSON DIRECTOR 1.00 X 0 0 0 COLLETTE BRUCE DIRECTOR 1.00 X 0 0 0 NICOLE DAVY DIRECTOR - UNTIL 09/2022 1.00 X 0 0 0 LEROY TERRY EAKIN III DIRECTOR 1.00 1.00 X 0 0 0 MICHELA ENGLISH DIRECTOR 5.00 X 0 0 0 AHMAD HAJJ DIRECTOR 1.00 1.00 X 0 0 0 MERCEDES KEARNEY DIRECTOR 1.00 X 0 0 0 JUDY LANSING KOVLER DIRECTOR - UNTIL 09/2022 1.00 X 0 0 0 EMILY K LAWSON DIRECTOR 1.00 X 0 0 0 MAURA MARINO DIRECTOR - UNTIL 09/2022 1.00 X 0 0 0 STERLING THOMAS DIRECTOR 1.00 X 0 0 0 LISA CULLINS DIRECTOR 1.00 X 0 0 0 PAM STEPTOE DIRECTOR 1.00 X 0 0 0 DANIEL FINE DIRECTOR 1.00 X 0 0 0 CHEVALIER CLEAVES DIRECTOR 1.00 X 0 0 0 LAURA MAESTAS CHIEF EXECUTIVE OFFICER 40.00 2.00 X 214105 0 11972 DANIEL ENGLENDER CHIEF OPER OFFICER/CFO/TREASURER 40.00 2.00 X 189886 0 17487 KATIE SEVERN PRESIDENT AND ACADEMIC OFFICER 40.00 X 246023 0 21445 TARA O'FLAHERTY SENIOR DIRECTOR OF SCHOOLS 40.00 X 164379 0 16340 NEILS RIBEIRO-YEMOFIO CHIEF OF EXTERNAL AFFAIRS 40.00 X 155541 0 15765 MAURA ENGLENDER SENIOR DIRECTOR OF STUDENT SUPPORT 40.00 X 154031 0 14748 NEEMA DESAI PRINCIPAL 40.00 X 136278 0 14784 RACHEL MCCLAM PRINCIPAL 40.00 X 134821 0 14037 EMILY JOHANNSEN SENIOR DIRECTOR OF OPERATIONS 40.00 X 134483 0 14286 CASSIE PERGAMENT SENIOR DIRECTOR OF PROGRAM 40.00 X 129781 0 7596 1659328 0 148460 29 0 1 0 MCN BUILD 1214 28TH STREET NW WASHINGTON DC 20007 CONSTRUCTION SERVICES 1048173 END-TO-END SOLUTIONS FOR SPECIAL EDUCATI 714 G STREET SE SUITE 201 WASHINGTON DC 20003 SPECIAL EDUCATION SERVICES 784082 PMM COMPANIES 15938 DERWOOD POAD ROCKVILLE MD 20855 JANITORIAL AND FACILITY MGMT SERVICES 617788 EDOPS 1611 CONNECTICUT AVE NW 200 WASHINGTON DC 20009 ACCOUNTING, FACILITY SUPPORT SERVICES 473503 REVOLUTION FOODS PO BOX 742759 LOS ANGELES CA 90074 FOOD SERVICES 456770 16 50941913 1339148 304796 52281061 CAFETERIA REVENUE 900099 1191499 1191499 MEDICAID PROGRAM 900099 401458 401458 E-RATE PROGRAM 900099 120403 120403 1713360 29398 29398 37633755 29392183 8241572 8241572 8241572 MISCELLANEOUS 900099 59284 59284 59284 62324675 1713360 0 8330254 375000 375000 25484 25484 1117506 309893 747349 60264 27594738 23770000 3733067 91671 657412 564302 91118 1992 2233295 1958249 268639 6407 2338765 1970580 356466 11719 309389 248889 60500 678751 678751 59970 15478 44492 678843 467545 105649 105649 391403 328469 60890 2044 5557432 5486051 53536 17845 2778577 2663288 115289 231620 194378 36033 1209 DIRECT STUDENT COSTS 3765612 3765612 OTHER EXPENSES 2080783 1294660 716248 69875 PROF. DEVELOPMENT 876638 661216 206417 9005 STAFF RELATED EXPENSES 633193 478403 148240 6550 901912 349238 552362 312 53286323 44911257 7946032 429034 4488575 14947836 15070031 6269466 2862223 4786898 186403 289457 602846 532989 92501834 22745667 57152305 69756167 9999979 10011212 241872 4711604 90604234 111305629 2886850 11449676 37078 33745 9490000 37633755 52160763 22911894 247105 0 64821796 72029070 X 25087692 39102059 694746 174500 25782438 39276559 90604234 111305629 9038352 4455769 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 3323 0 0 3323 0 PART II-B, LINE 1: IN FISCAL YEAR 2022, DC PREP ENGAGED IN THE FOLLOWING GRASSROOTS LOBBYING ACTIVITIES TO INFLUENCE LOCAL EDUCATION LEGISLATION AND INITIATIVES: MET WITH WARD 8 ANC REGARDING OPENING OF THE NEW CAMPUS, MET WITH DC COUNCIL MEMBERS, ATTENDED COMMUNITY MEETINGS, AND REQUESTED LETTERS SUPPORTING DC PREP. 4249945 4249945 41010406 9939921 31070485 27061924 8706650 18355274 5748676 4099096 1649580 14430883 14430883 69756167 X PART X, LINE 2: DC PREP PERFORMED AN EVALUATION OF UNCERTAINTY IN INCOME TAXES FOR THE YEARS ENDED JUNE 30, 2022 AND 2021, 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. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 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. SCHEDULE E, PART I, LINE 6 DC PREP IS A PUBLIC CHARTER SCHOOL AND RECEIVED FEDERAL FUNDS FROM THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES, U.S. DEPARTMENT OF EDUCATION, AND THE U.S. DEPARTMENT OF AGRICULTURE. 1 DC PREP SUPPORT CORPORATION 707 EDGEWOOD STREET NE WASHINGTON DC 20017 821574134 501(C)(3) 375000 0 SINKING FUND PAYMENTS FOR AEC'S LOAN 1 0 GIFT CARDS AND TEXT BOOK PURCHASES 53 19246 TUITION PAYMENTS 5 6238 PART I, LINE 2: A SCHOLARSHIP COMMITTEE (CURRENTLY MADE UP OF THE CEO, CHIEF OF EXTERNAL AFFAIRS, DIRECTOR OF HIGH SCHOOL PLACEMENT, DIRECTOR OF PREPNEXT, AND ALUMNI SUPPORT COUNSELORS) REVIEWS REQUESTS FROM THE FAMILIES OF ALUMNI STUDENTS WHO REQUIRE FINANCIAL SUPPORT IN ORDER TO ATTEND AN OUTSTANDING HIGH SCHOOL OR COLLEGE. IN ALL CASES, THE FUNDS ADDRESS THE SHORTFALL BETWEEN THE SCHOLARSHIP OFFER THE ALUMNI 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 FUNDS. X X X 0 0 0 0 0 0 0 1 0 KATIE SEVERN PRESIDENT AND ACADEMIC OFFICER 245523 0 500 0 0 0 12611 0 8834 0 267468 0 0 0 LAURA MAESTAS CHIEF EXECUTIVE OFFICER 213605 0 500 0 0 0 10724 0 1248 0 226077 0 0 0 DANIEL ENGLENDER CHIEF OPER OFFICER/CFO/TREASURER 189386 0 500 0 0 0 9760 0 7727 0 207373 0 0 0 TARA O'FLAHERTY SENIOR DIRECTOR OF SCHOOLS 163879 0 500 0 0 0 8613 0 7727 0 180719 0 0 0 NEILS RIBEIRO-YEMOFIO CHIEF OF EXTERNAL AFFAIRS 155041 0 500 0 0 0 8038 0 7727 0 171306 0 0 0 MAURA ENGLENDER SENIOR DIRECTOR OF STUDENT SUPPORT 153531 0 500 0 0 0 7724 0 7024 0 168779 0 0 0 NEEMA DESAI PRINCIPAL 134778 0 1500 0 0 0 7057 0 7727 0 151062 0 0 0 PART I, LINE 7 ALL BONUSES PAID TO DC PREP'S OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES LISTED IN FORM 990, PART VII, SECTION A FOR THE 2021 CALENDAR YEAR WERE BASED ON AN APPRAISAL OF HIS/HER PERFORMANCE FOR THE YEAR ENDED JUNE 30, 2022. A DISTRICT OF COLUMBIA 536001131 254839J38 2005-06-15 5500000 REPAY OUTSTANDING NOTES USED TO PURCHASE/RENOVATE THE FIRST SCHOOL BUILDING 0 0 0 B DISTRICT OF COLUMBIA 536001131 254839W25 2007-06-26 9580000 REFINANCE AND FINANCE PURCHASE AND RENOVATION OF THE SECOND SCHOOL BUILDING 0 0 0 C DISTRICT OF COLUMBIA 536001131 2021-12-15 52000000 REPAY OUTSANDING BONDS (A AND B) AND NMTC LOANS AND FINANCE RENOVATION OF SC 0 0 0 A 5500000 198106 5301894 2005 0 0 1 1 B 9580000 278787 9301213 2007 0 0 1 1 C 37633755 652939 36980816 2022 1 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 0 B 0 0 0 1 1 0 0 0 0 C 0 1 1 0 1 1 EAGLE BANK 0 0 0 0 0 A 0 B 0 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: DISTRICT OF COLUMBIA DATE THE REBATE COMPUTATION WAS PERFORMED: 06/15/2016 ISSUER NAME: DISTRICT OF COLUMBIA DATE THE REBATE COMPUTATION WAS PERFORMED: 06/26/2020 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). 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 6 304796 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE INFORMATION TO COMPLETE THE FEDERAL FORM 990 IS PROVIDED TO THE PREPARER BY DC PREP'S CONTRACTED ACCOUNTING SERVICE, IT'S SENIOR DIRECTOR OF FINANCE AND REAL ESTATE, CFO AND CEO. ONCE THE INITIAL DRAFT FEDERAL FORM 990 IS COMPLETED, IT IS CIRCULATED TO THE AUDIT COMMITTEE FOR REVIEW AND ACCEPTANCE, FOLLOWED BY THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE MEMBERS OF DC PREP'S BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES COMPLETE A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS THAT IS REVIEWED BY THE BOARD CHAIRMAN AND CEO FOR ANY POTENTIAL CONFLICTS. ANY BOARD MEMBER WHO BELIEVES HIMSELF OR HERSELF TO HAVE A CONFLICT OF INTEREST IN A DECISION ON A SPECIFIC MATTER IS REQUIRED TO RECUSE HIMSELF 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 ORGANIZATION INDUSTRY, TO DETERMINE ANNUAL COMPENSATION OF OFFICERS AND KEY EMPLOYEES. COMPENSATION OF THE CEO IS PRESENTED TO THE BOARD OF DIRECTORS 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 MAINTAINS A WRITTEN DESCRIPTION OF THAT DISCUSSION THAT INCLUDES THOSE BOARD MEMBERS PRESENT AND ACKNOWLEDGES THEIR UNANIMOUS DECISION. TO DRAW UP ITS RECOMMENDATION FOR COMPENSATION, THE GOVERNANCE COMMITTEE MAKES USE OF DATA OF COMPARABLE ORGANIZATIONS (MULTIPLE-CAMPUS CHARTER SCHOOLS) BASED ON RESEARCH CONDUCTED ON CHARTER SCHOOLS BY EDUCATION ORGANIZATIONS AND GROUPS. THE DATA SHOWS THAT THE CEO'S COMPENSATION IS 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. DC PREP SUPPORT CORPORATION 707 EDGEWOOD STREET NE WASHINGTON DC 20017 821574134 TO SUPPORT D.C. PREPARATORY ACADEMY DC 501(C)(3) LINE 12A, I DC PREPARATORY ACADEMY 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DC PREP SUPPORT CORPORATION B 375000 COST VALUE