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Bronzeville Academy Charter SC FY2020 filing

Chicago, ILUnknown exempt organization EIN 20-2173013Revenue $4.6M in FY2020

On file with the IRS4930 S Cottage Grove · Chicago, IL

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The organization operates a charter school.

85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $254K a year · 4% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$541K
96% of total assets
Concern: liabilities are 96% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.6M
Spent
$4.4M
To programs
85%
Net assets
$21K
By yearFY2020–FY2023
Revenue
$4.6M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$4.6M
FY2021$6.5M
FY2022$6.4M
FY2023$7.2M
Expenses
$4.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$4.4M
FY2021$5.7M
FY2022$6.6M
FY2023$6.9M
Net assets
$21K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$21K
FY2021$823K
FY2022$545K
FY2023$785K

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $3.7M Management & general 15% · $651K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
J Thornton
Vice President
$0Pt VII · Sec A
L Jefferson
President
$0Pt VII · Sec A
Lamarr Miller
Treasurer
$0Pt VII · Sec A
See Bronzeville Academy Charter SC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Operates a charter school for students.

Questions for Bronzeville Academy Charter SC

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Provided by the organization

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1 program · $4.4M · in their own filed words · FY2019
01

The organizataion operates a chareter school

$4.4Mprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$4.6M
Ln 12
Fees for servicesLn 2g$4.6M
Money outPt IX
$4.4M
Ln 25
Programscol B$3.7M
Managementcol C$651K
Owns and owesPt X
$21K
net assets · Ln 32
Cash and savingsLn 1–2$279K
Total assetsLn 16$562K
LiabilitiesLn 26$541K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$4.6M
Total revenueLn 12$4.6M
Assets in detailPt X, end of year
CashLn 1$279K
Cash and savings togetherLn 1–2$279K
Total assetsLn 16$562K
LiabilitiesLn 26$541K
Net assetsLn 32$21K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$279K
Total assetsLn 16$129K$562K
LiabilitiesLn 26$344K$541K
Net assetsLn 32−$214K$21K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Advertising and promotionLn 12$33K$33K
Office expensesLn 13$36K$36K
Information technologyLn 14$99K$99K
OccupancyLn 16$598K$586K$12K
TravelLn 17$94K$90K$5K
InterestLn 20$59K$59K
InsuranceLn 23$24K$21K$3K
Other expenses (24a–d)Ln 24$2.6M
All other expensesLn 24e$804K$687K$117K
Total functional expensesLn 25$4.4M$3.7M$651K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $7.2M$6.9M$258K$785K 990 PDF
FY2022 $6.4M$6.6M−$258K$545K 990 PDF
FY2021 $6.5M$5.7M$782K$823K 990 PDF
FY2020 Viewing $4.6M$4.4M$235K$21K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $4,616,175 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $3,433,605$4,616,175
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $3,433,605$4,616,175
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,126,478$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,781,575$4,380,861
I-18 Total expensesPrior year $3,908,053$4,380,861
I-19 Revenue less expensesPrior year −$474,448$235,314
Part VI · Governance 3 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,616,175 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,616,175$4,616,175
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $4,616,175$4,616,175
Part IX · Statement of functional expenses $4,380,861 across 9 lines filed
IX-12 Advertising and promotionManagement $33,222$33,222
IX-13 Office expensesManagement $35,547$35,547
IX-14 Information technologyManagement $99,377$99,377
IX-16 OccupancyPrograms $586,496 · Management $11,654$598,150
IX-17 TravelPrograms $89,568 · Management $4,716$94,284
IX-20 InterestManagement $59,047$59,047
IX-23 InsurancePrograms $20,955 · Management $2,858$23,813
IX-24 Other expenses (24a–d)$2,633,007
IX-24e All other expensesPrograms $687,269 · Management $117,145$804,414
IX-25 Total functional expensesPrograms $3,729,978 · Management $650,883 · Fundraising $0$4,380,861
Part X · Balance sheet $562,449 assets, 10 lines filed
X-1 Cash, non-interest-bearing$278,572
X-3 Pledges and grants receivable$129,505
X-9 Prepaid expenses and deferred chargesStart of year $90,126$154,372
X-16 Total assetsStart of year $129,393$562,449
X-17 Accounts payable and accrued expensesStart of year $343,666$35,406
X-24 Unsecured notes and loans payable$506,002
X-26 Total liabilitiesStart of year $343,666$541,408
X-27 Net assets without donor restrictionsStart of year −$214,273$21,041
X-32 Total net assets or fund balancesStart of year −$214,273$21,041
X-33 Total liabilities and net assetsStart of year $129,393$562,449
Part XI · Reconciliation of net assets $21,041 net assets at year end
XI-1 Total revenue$4,616,175
XI-2 Total expenses$4,380,861
XI-3 Revenue less expenses$235,314
XI-4 Net assets at start of year−$214,273
XI-10 Net assets at end of year$21,041

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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