INTERNATIONAL LEADERSHIP CHARTER SCHOOL: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- INTERNATIONAL LEADERSHIP CHARTER SCHOOL (EIN 74-3161540)
- Tax period
- 2019-07-01 to 2020-06-30
- Filed
- 2021-04-01
- IRS object ID
- 202100919349301100
- Schema version
- 2019v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-04-01T08:29:58-05:00 | ReturnTs |
| Tax Period End | 2020-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 161092347 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MENGEL METZGER BARR & CO LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 CHESTNUT STREET SUITE 1200 | AddressLine1Txt |
| City | ROCHESTER | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 14604 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 743161540 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INTERNATIONAL LEADERSHIP CHARTER | BusinessNameLine1Txt |
| Business Name Line2 | HIGH SCHOOL | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | INTE | BusinessNameControlTxt |
| Phone | 7185622300 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3030 RIVERDALE AVENUE | AddressLine1Txt |
| City | BRONX | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10463 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DR ELAINE RUIZ LOPEZ | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 7185622300 | PhoneNum |
| Signature | 2021-03-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JACQUELINE B LEE CPA | PreparerPersonNm |
| PTIN | P00842765 | PTIN |
| Phone | 5854231860 | PhoneNum |
| Preparation | 2021-03-09 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DR ELAINE RUIZ LOPEZ | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3030 RIVERDALE AVENUE | AddressLine1Txt |
| City | BRONX | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10463 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $6,579,537 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.ILCHS.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2006 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | THE INTERNATIONAL LEADERSHIP CHARTER SCHOOL ("THE SCHOOL"), A 501(C)(3) TAX-EXEMPT ORGANIZATION, IS A PUBLIC CHARTER HIGH SCHOOL LOCATED IN BRONX, NEW YORK. THE SCHOOL OPENED IN JANUARY 2006 AND CURRENTLY OPERATES CLASSES FOR NINTH TO TWELFTH GRADE. THE SCHOOL HAS AN EXTENDED SCHOOL DAY THAT FEATURES 60 AND 90 MINUTE CLASS PERIODS STUDENTS RECEIVE 180 MINUTES PER WEEK IN EACH CORE SUBJECT, WHICH, ACCORDING TO MANAGEMENT, IS VIEWED FAVORABLY BY BOTH PARENTS AND TEACHERS. FURTHER SUPPORTING STUDENTS, THE SCHOOL OFFERS AFTER-SCHOOL TUTORING, AND DURING JANUARY STUDENTS ARE REQUIRED TO ATTEND 'SATURDAY ACADEMY' FOR THREE HOURS. THE PURPOSE OF SATURDAY ACADEMY IS TO PROVIDE STUDENTS WITH SUBJECT INTENSIVE STUDY FOR REGENTS EXAMS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 52 | TotalEmployeeCnt |
| Total Volunteers | 7 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $345,913 | PYContributionsGrantsAmt |
| CY Contributions Grants | $320,453 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $5,669,269 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $6,229,939 | CYProgramServiceRevenueAmt |
| PY Investment Income | $35,941 | PYInvestmentIncomeAmt |
| CY Investment Income | $29,145 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $6,051,123 | PYTotalRevenueAmt |
| CY Total Revenue | $6,579,537 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,325,580 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,411,213 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,670,735 | PYOtherExpensesAmt |
| CY Other Expenses | $3,693,961 | CYOtherExpensesAmt |
| PY Total Expenses | $5,996,315 | PYTotalExpensesAmt |
| CY Total Expenses | $6,105,174 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $54,808 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $474,363 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $22,713,425 | TotalAssetsBOYAmt |
| Total Assets EOY | $22,767,418 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $20,529,820 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $20,279,800 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,183,605 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $2,487,618 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE INTERNATIONAL LEADERSHIP CHARTER HIGH SCHOOL WILL IMPLEMENT AN ACADEMICALLY RIGOROUS COLLEGE PREPARATORY CURRICULUM THAT WILL ELEVATE STUDENTS' INTELLECTUAL CAPACITY, PROVIDE A SUPERIOR HIGH SCHOOL EDUCATION TO PREPARE OUR SCHOLARS FOR A HIGHER EDUCATION. OUR STUDENTS WILL MEET AND EXCEED CITY AND STATEWIDE ASSESSMENT AVERAGES ON THE NEW YORK STATE REGENTS EXAMINATIONS IN ENGLISH, HISTORY, MATHEMATICS AND SCIENCE. OUR GOAL IS TO CHANGE LIVES AND TRANSFORM COMMUNITIES, ONE SCHOLAR AT A TIME. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $5,226,829 | ExpenseAmt |
| Revenue | $6,229,939 | RevenueAmt |
| Desc | THE SCHOOL IMPLEMENTS AN ACADEMICALLY RIGOROUS REGENTS AND COLLEGE-PREPARATORY CURRICULUM THAT ELEVATES STUDENTS' INTELLECTUAL CAPACITY AND PROVIDES A SUPERIOR HIGH SCHOOL EDUCATION THAT HAS GAINED NATIONAL RECOGNITION PROVING THAT OUR ACADEMICALLY RIGOROUS PROGRAM IS EFFECTIVE, DEDICATED TO EMPOWERING TOMORROW'S LEADERS. FROM 2014 THROUGH THE PRESENT, THE SCHOOL PLACED IN THE TOP 1% OF HIGH SCHOOLS AND WAS THE RECIPIENT OF A BRONZE AWARD FROM THE US NEWS & WORLD REPORT FOR BEST HIGH SCHOOLS 2013. NATIONALLY THE SCHOOL'S ACADEMIC PROGRAM HAS PRODUCED A SCHOOL WITH AN AVERAGE GRADUATION RATE OF 95% (THE MAJORITY OF WHOM MATRICULATED INTO A 4-YEAR COLLEGE OR UNIVERSITY) AND REGENT EXAM SCORES HIGHER THAN SCHOOLS IN ITS DISTRICT AND THE STATE ON MARCH 21, 2013. THE SCHOOL BECAME THE FIRST CHARTER SCHOOL TO SUCCESSFULLY CLOSE ON A $17,750,000 MUNICIPAL BOND FINANCING ISSUED BY BUILD NYC FOR A NEW FACILITY. WE HAVE A STRATEGIC 18 MONTH PLAN FOR THE DESIGN AND CONSTRUCTION OF A STATE OF THE ART SCHOOL FACILITY. THE NEW FACILITY WILL BE A 28,500 SQUARE FOOT, THREE-STORY, STATE OF THE ART FACILITY THAT WILL CONTAIN 17 CLASSROOMS AND NINE FLEX ROOMS, SUPPORTING STUDENT ACTIVITIES AND DEVELOPMENT SPACE, AND WITH THE CAPACITY TO ACCOMMODATE APPROXIMATELY 400 STUDENTS. THIS WILL ALLOW THE SCHOOL TO EXPAND ITS STUDENT CURRENT ENROLLMENT TO 400 STUDENTS. THE NEW FACILITY WILL BE LOCATED ON TWO CONTIGUOUS PARCELS TOTALING 15,400 SQUARE FEET AT 322 WEST 231ST STREET IN THE KINGSBRIDGE NEIGHBORHOOD OF THE BRONX. | Desc |
| Total Program Service Expenses | $5,226,829 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 7 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 52 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DR ELAINE RUIZ LOPEZ CEO | PersonNm |
| Phone | 7185622300 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3030 RIVERDALE AVE | AddressLine1Txt |
| City | BRONX | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10463 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (8 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| YAHIRA RICARDO | ||||||
| PARENT MEMBER | 2.50 | Yes (X) | $0 | $0 | $0 | |
| MARIA GARCIA | ||||||
| PARENT MEMBER | 2.50 | Yes (X) | $0 | $0 | $0 | |
| ADDY RIVAS | ||||||
| MEMBER | 2.50 | Yes (X) | $0 | $0 | $0 | |
| DOREEN BERMUDEZ | ||||||
| SECRETARY | 2.50 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| VAGNES DE LA ROSA | ||||||
| CHAIR | 2.50 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| ANNY RIVAS | ||||||
| TREASURER | 2.50 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| NATALIE LOZADA | ||||||
| MEMBER | 2.50 | Yes (X) | $0 | $0 | $0 | |
| DR ELAINE RUIZ LOPEZ | ||||||
| CEO | 60.00 | $226,880 | $0 | $24,210 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $226,880 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $24,210 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| REVOLUTION FOODS INC | |||||
| PO BOX 742759 | LOS ANGELES | CA | 90074 | SCHOOL MEALS | $272,063 |
| WINFIELD SECURITY | |||||
| 57 WEST 38TH STREET 5TH FLOOR | NEW YORK | NY | 10018 | SECURITY SERVICES | $191,680 |
| ACCOUNTING SOLUTIONS OF NEW YORK INC | |||||
| 16 RYAN STREET | SYOSSET | NY | 11791 | ACCOUNTING FEES | $102,142 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $285,951 | GovernmentGrantsAmt |
| All Other Contributions | $34,502 | AllOtherContributionsAmt |
| Total Contributions | $320,453 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PER PUPIL FUNDING | Desc |
| Business | 611110 | BusinessCd |
| Total Revenue Column | $6,229,939 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,229,939 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $6,229,939 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $29,145 | TotalRevenueColumnAmt |
| Exclusion | $29,145 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,579,537 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,229,939 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $29,145 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $257,706 | TotalAmt |
| Program Services | $193,279 | ProgramServicesAmt |
| Management And General | $64,427 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,814,598 | TotalAmt |
| Program Services | $1,662,883 | ProgramServicesAmt |
| Management And General | $151,715 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,421 | TotalAmt |
| Program Services | $12,960 | ProgramServicesAmt |
| Management And General | $1,461 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $153,184 | TotalAmt |
| Program Services | $141,406 | ProgramServicesAmt |
| Management And General | $11,778 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $171,304 | TotalAmt |
| Program Services | $153,950 | ProgramServicesAmt |
| Management And General | $17,354 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,679 | TotalAmt |
| Management And General | $74,679 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $146,043 | TotalAmt |
| Management And General | $146,043 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $365,652 | TotalAmt |
| Program Services | $333,934 | ProgramServicesAmt |
| Management And General | $31,718 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $111,803 | TotalAmt |
| Program Services | $95,033 | ProgramServicesAmt |
| Management And General | $16,770 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $73,269 | TotalAmt |
| Program Services | $62,279 | ProgramServicesAmt |
| Management And General | $10,990 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $94,103 | TotalAmt |
| Program Services | $79,988 | ProgramServicesAmt |
| Management And General | $14,115 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,282,981 | TotalAmt |
| Program Services | $1,090,534 | ProgramServicesAmt |
| Management And General | $192,447 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,445 | TotalAmt |
| Program Services | $2,078 | ProgramServicesAmt |
| Management And General | $367 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $525,587 | TotalAmt |
| Program Services | $446,749 | ProgramServicesAmt |
| Management And General | $78,838 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $135,739 | TotalAmt |
| Program Services | $115,378 | ProgramServicesAmt |
| Management And General | $20,361 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| STUDENT SERVICES | $233,315 | $233,315 | |
| FOOD SERVICE | $181,086 | $181,086 | |
| OTHER | $149,143 | $126,772 | $22,371 |
| REPAIRS & MAINTENANCE | $118,495 | $100,721 | $17,774 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $199,621 | TotalAmt |
| Program Services | $194,484 | ProgramServicesAmt |
| Management And General | $5,137 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,105,174 | TotalAmt |
| Program Services | $5,226,829 | ProgramServicesAmt |
| Management And General | $878,345 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $226,742 | BOYAmt |
| EOY | $222,970 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $177,131 | BOYAmt |
| EOY | $518,477 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $173,583 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,001 | BOYAmt |
| EOY | $19,639 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $21,023,282 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $2,448,160 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,989,359 | BOYAmt |
| EOY | $18,575,122 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,286,192 | BOYAmt |
| EOY | $3,257,627 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,713,425 | BOYAmt |
| EOY | $22,767,418 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $771,456 | BOYAmt |
| EOY | $768,231 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $169,578 | BOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,963,071 | BOYAmt |
| EOY | $18,571,838 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $368,500 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $625,715 | BOYAmt |
| EOY | $571,231 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,529,820 | BOYAmt |
| EOY | $20,279,800 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,183,605 | BOYAmt |
| EOY | $2,487,618 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,183,605 | BOYAmt |
| EOY | $2,487,618 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,713,425 | BOYAmt |
| EOY | $22,767,418 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $474,363 | ReconcilationRevenueExpnssAmt |
| Prior Period Adjustments | -$170,350 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,530,000 | OtherCostOrOtherBasisAmt |
| Book Value | $2,530,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $18,012,956 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,035,875 | DepreciationAmt |
| Book Value | $15,977,081 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $480,326 | OtherCostOrOtherBasisAmt |
| Depreciation | $412,285 | DepreciationAmt |
| Book Value | $68,041 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $18,575,122 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| RESTRICTED CASH | $3,182,178 |
| CASH IN ESCROW | $75,449 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $3,257,627 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ACCRUED INTEREST PAYABLE | Desc |
| Amt | $571,231 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $571,231 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $6,579,537 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $6,579,537 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $6,579,537 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $6,105,174 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $6,105,174 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $6,105,174 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE CHARTER SCHOOL IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE REGULATIONS AND,ACCORDINGLY, IS EXEMPT FROM FEDERAL AND STATE TAXES ON INCOME. THE CHARTER SCHOOL FILES FORM 990 TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. THE TAX RETURNS FOR THE YEARS ENDED JUNE 30, 2017 THROUGH JUNE 30, 2020 ARE STILL SUBJECT TO POTENTIAL AUDIT BY THE IRS. MANAGEMENT OF THE CHARTER SCHOOL BELIEVES IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT HAS NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. | ExplanationTxt |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | THE SCHOOL IS REQUIRED TO ADHERE TO THE PROVISIONS OF SECTION 2854 (2) OF THE EDUCATION LAW TO GUIDE THE ADMISSION POLICIES AND PROCEDURES. THE SCHOOL IS OPEN TO ANY STUDENT WHO IS QUALIFIED UNDER THE LAWS OF NEW YORK FOR ADMISSION TO A PUBLIC SCHOOL. ADMISSION OF STUDENTS WILL BE NOT BE LIMITED ON THE BASIS OF INTELLECTUAL ABILITY, MEASURES OF ACHIEVEMENT OR APTITUDE, ATHLETIC ABILITY, DISABILITY, RACE, CREED, NATIONAL ORIGIN, RELIGION, ANCESTRY, PROFICIENCY IN ENGLISH OR ANY OTHER GROUND THAT WOULD BE UNLAWFUL. ADMISSION TO ILCHS IS FREE & OPEN TO ALL STUDENTS ELIGIBLE TO ATTEND PUBLIC SCHOOL IN NYC. |
| SCHEDULE E, PART I, LINE 6 | THE SCHOOL RECEIVES GOVERNMENT FUNDING IN THE FORM OF GOVERNMENT GRANTS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DR ELAINE RUIZ LOPEZ | PersonNm |
| Title | CEO | TitleTxt |
| Base Compensation Filing Org | $226,880 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $24,210 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $251,090 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (4 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| BUILD NYC RESOURCE CORP | ||||||||
| A | 454040561 | 12008EBC9 | 2013-03-01 | $2,920,000 | SPEC LIMITED REV OBLIGIATIONS | 0 | 0 | 0 |
| BUILD NYC RESOURCE CORP | ||||||||
| B | 454040561 | 12008EBD7 | 2013-03-01 | $5,360,000 | SPEC LIMITED REV OBLIGIATIONS | 0 | 0 | 0 |
| BUILD NYC RESOURCE CORP | ||||||||
| C | 454040561 | 12008EBB1 | 2013-03-01 | $9,470,000 | SPEC LIMITED REV OBLIGIATIONS | 0 | 0 | 0 |
| BUILD NYC RESOURCE CORP | ||||||||
| D | 454040561 | 12008ELU8 | 2016-07-15 | $2,905,000 | SPEC LIMITED REV OBLIGIATIONS | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (4 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | In Reserve FundInReserveFundAmt | Capitalized InterestCapitalizedInterestAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Capital ExpendituresCapitalExpendituresAmt | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd | UnspentUnspentAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|
| A | $1,460,000 | $17,750,000 | $1,289,650 | $1,306,400 | $624,890 | $14,529,060 | Yes (1) | 0 | 0 | 0 | |
| B | Yes (1) | 0 | 0 | 0 | |||||||
| C | 0 | 0 | 0 | 0 | |||||||
| D | $2,905,000 | $235,000 | $58,100 | $2,304,271 | 0 | 0 | 0 | 0 | $307,629 |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (4 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| C | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (4 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| C | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | Yes (1) |
Procedures Corrective Action ProceduresCorrectiveActionGrp (4 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | 0 |
| B | 0 |
| C | 0 |
| D | 0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART VI | FormAndLineReferenceDesc |
| Explanation | ON MARCH 21, 2013, BUILD NYC RESOURCE CORPORATION PROVIDED CONSTRUCTION AND PERMANENT FINANCING THROUGH THE ISSUANCE OF $17,750,000 IN TAX-EXEMPT REVENUE BONDS (THE SERIES 2013 BONDS), WITH PRINCIPAL AMOUNTS, INTEREST RATES AND MATURITY DATES AS FOLLOWS PRINCIPAL, AMOUNTS, INTEREST RATES, DUE DATES - $ 2,920,000 5.00% JULY 1, 2023 $5,360,000 5.75% JULY 1, 2033 $9,470,000 6.00% JULY 1, 2043. THE PROCEEDS FROM THE SALE OF THE BONDS, TOGETHER WITH OTHER AVAILABLE FUNDS, WERE USED TO (1) REFINANCE OR REIMBURSE THE SCHOOL FOR CERTAIN COSTS OF ACQUIRING, CONSTRUCTING, RENOVATING, EQUIPPING AND FURNISHING ITS FUTURE EDUCATIONAL FACILITY, (2) FUND THE SERVICE RESERVE FUND ESTABLISHED UNDER THE INDENTURE IN AN AMOUNT EQUAL TO THE DEBT SERVICE RESERVE FUND REQUIREMENT OF THE BONDS, (3) COVER INTEREST ON THE BONDS DURING CONSTRUCTION FOR A PERIOD OF SIXTEEN MONTHS, AND ( 4) PAY CERTAIN COSTS OF ISSUING THE SERIES 2013 BONDS. THE BONDS ARE SECURED BY THE PLEDGE AND ASSIGNMENT TO THE TRUSTEE OF THE TRUST ESTATE FOR THE BENEFIT OF THE HOLDERS OF THE BONDS. THE OBLIGATIONS OF THE SCHOOL UNDER THE LOAN AGREEMENT ARE SECURED BY THE MORTGAGES ASSIGNED TO THE TRUSTEE FOR THE BENEFIT OF THE HOLDERS OF THE BONDS. INTEREST ON THE BONDS IS PAYABLE INITIALLY ON JULY 1, 2013 AND SEMIANNUALLY THEREAFTER ON EACH JANUARY 1ST AND JULY 1ST COMPUTED ON THE BASIS OF A 360-DAY YEAR OF TWELVE 30-DAY MONTHS. THE AMOUNT OF THE INTEREST THAT WAS CAPITALIZED AS IT RELATED TO THE FINANCING OF THE SCHOOLS FACILITY WAS $551,999 FOR THE YEAR ENDED JUNE 30, 2015. PRINCIPAL AND INTEREST PAYMENTS DUE ON THE BONDS BY FISCAL YEAR ARE AS FOLLOWS: FISCAL YEAR ENDED , PRINCIPAL, INTEREST, TOTAL - 2020 $425,000 $1,161,088 $1,586,088 2021 $450,000 $1,139,713 $1,589,713 2022 $475,000 $1,116,963 $1,591,963 2023 $425,000 $1,094,650 $1,519,650 2024 $445,000 $1,062,071 $1,507,071 AND THEREAFTER $ 17,630,000 $13,388,435 $31,018,435. INTERNATIONAL LEADERSHIP CHARTER SCHOOL USED THE PROCEEDS FROM THE SALE OF THE BONDS, TOGETHER WITH OTHER AVAILABLE FUNDS, WERE USED TO (1) REFINANCE OR REIMBURSE THE SCHOOL FOR CERTAIN COSTS OF ACQUIRING, CONSTRUCTING, RENOVATING, EQUIPPING AND FURNISHING ITS FUTURE EDUCATIONAL FACILITY, (2) FUND THE SERVICE RESERVE FUND ESTABLISHED UNDER THE INDENTURE IN AN AMOUNT EQUAL TO THE DEBT SERVICE RESERVE FUND REQUIREMENT OF THE BONDS, (3) COVER INTEREST ON THE BONDS DURING CONSTRUCTION FOR A PERIOD OF SIXTEEN MONTHS, AND (4) PAY CERTAIN COSTS OF ISSUING THE SERIES 2013 BONDS. THE BONDS ARE SECURED BY THE PLEDGE AND ASSIGNMENT TO THE TRUSTEE OF THE TRUST ESTATE FOR THE BENEFIT OF THE HOLDERS OF THE BONDS. THE OBLIGATIONS OF THE SCHOOL UNDER THE LOAN AGREEMENT ARE SECURED BY THE MORTGAGES ASSIGNED TO THE TRUSTEE FOR THE BENEFIT OF THE HOLDERS OF THE BONDS. ADDITIONAL BOND FINANCING OF $3,300,000 WAS OBTAINED ON JULY 15, 2016 TO PAY DOWN ADDITIONAL CONSTRUCTION COSTS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | A DRAFT OF THE FEDERAL FORM 990 IS FIRST REVIEWED BY THE FINANCE TEAM MANAGING OUR FINANCES AT ACCOUNTING SOLUTIONS OF NEW YORK, INC (AS PART OF OUR AGREEMENT WITH THEM). THE FINAL DRAFT OF THE FEDERAL FORM 990 IS THEN CIRCULATED TO BOARD MEMBERS FOR THEIR REVIEW AND COMMENTS PRIOR TO THE SIGNING AND FILING OF THE FEDERAL FORM 990 WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICY AND DISCLOSURE QUESTIONNAIRE ARE DISTRIBUTED TO ALL BOARD MEMBERS ON AN ANNUAL BASIS. ALL BOARD MEMBERS ARE REQUIRED TO COMPLETE AND SIGN THE QUESTIONNAIRE ON AN ANNUAL BASIS. WHEN A POTENTIAL CONFLICT IS IDENTIFIED, THE MATTER IS BROUGHT TO THE BOARD CHAIR FOR REVIEW. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE CEO SALARY IS DETERMINED BY A COMMITTEE OF THE BOARD WHICH BASES THE COMPENSATION ON THE SUCCESSFUL RENEWAL OF THE CHARTER SCHOOL AND GUIDED BY MULTI-YEAR EMPLOYMENT CONTRACT WITH THE CEO. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ALL FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND TAX RETURNS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. |
| FORM990, PART XII, LINE 2C: | THIS PROCESS IS CONSISTENT WITH PRIOR YEAR'S FILING |
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