2012-11-05T16:11:16-06:00 2012-06-30 521511275 Raffa PC 1899 L Street NW Suite 900 Washington DC 20036 990 2011-07-01 020550253 DC Preparatory Academy DCPR 2026354590 707 Edgewood Street NE Washington DC 20017 Emily K Lawson 2026354590 2012-11-05 1 Frank H Smith P00639053 2028225000 2012-11-02 2011 2016-02-24 21:20:13Z Emily K Lawson 707 Edgewood Street NE Washington DC 20017 18944285 0 X www.dcprep.org X 2001 DC DC Prep is a network of public charter schools serving students in Washington, DC. 14 13 268 50 0 0 16010435 17876415 501096 831774 -22688 1277 21133 18461 16509976 18727927 21950 0 0 0 9478183 11210975 0 0 176312 5179613 5460876 14679746 16671851 1830230 2056076 24619209 26387799 15472188 15115781 9147021 11272018 X D.C. Preparatory Academy's (DC Prep) mission is to provide early childhood, elementary, and middle school students in Washington, DC, with an outstanding education emphasizing academics, character and leadership. 0 0 13774253 831774 In the fall of 2003, DC Prep opened its first campus: a small middle school with 100 students in 4th and 5th grade. Over the past nine years the school has expanded significantly, growing to three campuses and, in the 2012-13 school year, will serve 1,140 students. The Edgewood Elementary Campus enrolls children in preschool - 3rd grade; the Edgewood Middle Campus serves 4th-8th graders. DC Prep's third campus, Benning Elementary, enrolls children in preschool - 3rd grade.DC Prep's students are dramatically outperforming their peers in both regular public and charter schools. Based on data from the 2012 DC-CAS, DC Prep is now the #1 network of charter schools in Washington. The Edgewood Middle Campus continues to be the highest performing public charter school in the city, and our Edgewood Elementary is the highest-performing elementary school east of Rock Creek Park, with 76% of 3rd graders proficient in Reading and 72% proficient in Math. Proficiency levels among Edgewood Elementary 3rd graders who have been at DC Prep since pre-kindergarten are even higher and rival those of the top performing schools in Ward 3.Another powerful metric of our students' academic and personal achievement is their high school and college acceptance rate. To date, every DC Prep graduate (n=191) has been offered admission to a college-prep high school and over 80% of this year's graduating class will attend a selective independent, parochial, or public magnet school. The remaining students are enrolling in charter schools known for their rigor and college focus. Additionally, 90% of the students in DC Prep's first two 8th grade graduating classes (Classes of 2007 and 2008) have earned their high school diplomas (almost double the graduation rate of students in DCPS), and this fall over 70% of students in both classes are enrolled in college. DC Prep's alumni have been accepted to 42 different colleges and universities, including George Mason, Georgetown, Gettysburg, University of Virginia, College of William and Mary, Hampton, Morehouse, Rochester Institute of Technology, North Carolina A&T, and Cal Arts.We intend to continue to increase the percentage of students in each graduating class who are bound for the highest caliber high schools, ensuring that all students are on track for bright academic futures in rigorous high schools and colleges. 13774253 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 45 0 1 268 1 0 0 0 0 0 0 0 0 0 0 X 14 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Wendy Scott 2026354590 707 Edgewood Street NE Washington DC 20017 LeRoy Terry Eakin III 5.00 X X 0 0 0 S Joseph Bruno CPA 1.00 X X 0 0 0 Arthur McKee PhD 3.00 X X 0 0 0 Bobby Baldwin 1.00 X 0 0 0 Katherine Boone 1.00 X 0 0 0 Lisa Dixon 1.00 X 0 0 0 Michela English 2.00 X 0 0 0 Patrick Gross 2.00 X 0 0 0 Judy Kovler 1.00 X 0 0 0 Deborah McGriff 1.00 X 0 0 0 Carol Pensky 1.00 X 0 0 0 Jerome Powell 1.00 X 0 0 0 Eric Price 1.00 X 0 0 0 Jonathan Prince 1.00 X 0 0 0 Valerie R Wayne 2.00 X 0 0 0 Emily K Lawson 40.00 X X 142162 0 7386 Wendy Scott 40.00 X 117835 0 11086 Elizabeth Ibby Jeppson 40.00 X 113356 0 5153 Alicia Robinson 40.00 X 101702 0 8453 Nicole Bryan 40.00 X 110824 0 9862 Katie Severn 40.00 X 125735 0 18778 711614 0 60718 6 0 0 0 MCN Build 3143 N Street NW Washington DC 20007 Construction services 714610 Revolution Foods 8383 Capwell Drive San Francisco CA 94621 Student meals 528386 End to End Solutions for Special Ed 714 G St SE Suite 201 Washington DC 20003 Special education group therapy 354428 Service Master JGW 7941-L2 Angus Court Springfield VA 22153 Janitorial services 257427 GoldStar LLC 2000 P Street Suite 620 Washington DC 20036 Accounting services 167583 6 16626284 1250131 215749 17876415 Cafeteria revenue 900099 394248 394248 Parent payments 900099 279114 279114 Child subsidy program 900099 127739 127739 Medicaid program 900099 17284 17284 E-rate program 900099 10747 10747 2642 2642 831774 1886 1886 215749 216358 -609 -609 -609 Other income 900099 18461 18461 18461 18727927 831774 0 19738 326657 19128 288401 19128 9375933 7947973 1359556 68404 173158 141167 31583 408 538820 466644 68959 3217 796407 660556 129166 6685 96834 25783 71051 272576 272576 19944 350 14390 5204 291652 204156 43748 43748 138016 113547 23233 1236 1611725 1575064 27496 9165 2546 1232 1219 95 623699 551297 68869 3533 73138 60171 12312 655 Direct student costs 1430038 1430038 Dues/Fees/Fines 263679 221314 40512 1853 Staff related expenses 224338 102916 112493 8929 Prof. development 193928 147575 43574 2779 218763 105342 112148 1273 16671851 13774253 2721286 176312 4556751 6606450 392070 392835 1698181 1311418 850498 443207 280895 465114 20210176 3503594 16355563 16706582 485251 462193 24619209 26387799 899576 1080485 302211 208816 14130000 13755000 140401 71480 15472188 15115781 X 7385639 9602885 1761382 1669133 9147021 11272018 24619209 26387799 X 2056076 68921 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1685820 1685820 17210768 2452453 14758315 8670 5780 2890 1304918 1045361 259557 16706582 Interest rate swap liability 71480 71480 18727927 16671851 2056076 68921 68921 2124997 18811193 68921 14345 83266 18727927 0 18727927 16686196 14345 14345 16671851 0 16671851 Description of Uncertain Tax Positions Under FIN 48: Part X: DC Prep performed an evaluation of uncertain tax positions for the year ended June 30, 2012, and determined that there are 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 Explanation of Nondiscriminatory Policy Publication 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. Explanation of Government Financial Assistance Schedule E, Part I, Line 6 DC Prep is a public charter school and received federal funds from the U.S. Department of Education, the United States Congress, and from the federal Child Care and Development Fund Block Grant through the District of Columbia Office of State Superintendent of Education. DC Prep also received federal funds from the Federal Communications Commission, U.S. Department of Health and Human Services, and the U.S. Department of Agriculture through the D.C. Public Schools, Division of Food & Nutrition Services, State Agency. District of Columbia 536001131 254839J38 2005-06-15 5500000 Repay outstanding notes used to purchase/renovate the first school building 0 0 0 District of Columbia 536001131 254839W25 2007-06-26 9580000 Refinance and finance purchase and renovation of the second school building 0 0 0 5500000 198106 5301894 2005 0 0 1 1 9580000 278787 9301213 2007 0 0 1 1 0 0 0 1 1 0.00000 0.00000 0.00000 1 0 0 0 1 1 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 0 1 0 0 0 0 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). In addition, the legal fees for the letter of credit provider's council in the amount of $42,000 were included in the bond yield calculation as a qualified guarantee. 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 4 215749 Fair market value 0 0 0 Form 990, Part VI, Section B, line 11 Information to complete the federal Form 990 is provided to the preparer by DC Prep's contracted accounting service, its COO and CEO. Once the initial draft Form 990 is completed, it is circulated to the Finance and Real Estate Committee of the Board of Directors for review. The Finance and Real Estate Committee is responsible for recurring in-depth review of the organization's financials. The federal Form 990 is also circulated to the full Board of Directors prior to submission to the Internal Revenue Service. Form 990, Part VI, Section B, line 12c Members of the Board of the Directors and key employees complete a conflict of interest form on an annual basis that is reviewed by the CEO for any potential conflicts. DC Prep also reminds employees of the policy in the employee manual, which employees acknowledge receiving each year. Any board member who believes him or herself to have a conflict of interest in a decision on a specific matter is required to recuse him 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 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 has since provided a written description of that discussion that includes those board members present and acknowledges their unanimous decision. No members present in the session had a conflict of interest with the arrangement. To draw up its recommendation for compensation, the Governance Committee made use of data of comparable organizations (multiple-campus charter schools) drawn up by NewSchools Venture Fund, an independent 501(c)(3) which makes charitable grants to high performing education organizations and which conducts research on charter schools. The data showed that the CEO's compensation was 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. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 68,921.