2025-05-14T08:31:34-05:00 2024-06-30 202153727 SB & COMPANY LLC 10200 GRAND CENTRAL AVE SUITE 250 OWINGS MILLS MD 21117 990 2023-07-01 760718215 EAGLE ACADEMY PUBLIC CHARTER SCHOOL EAGL 2025442646 400 VIRGINIA AVE SW SUITE 710 WASHINGTON DC 20024 JENNIFER LEONARD ACTING CHIEF FINANCIAL OFFICER 2025442646 2025-05-14 1 0 TIANA WYNN P00644231 4105840060 2023 2025-03-06 01:10:19Z JENNIFER LEONARD 400 VIRGINIA AVE SW SUITE 710 WASHINGTON DC 20024 15434899 0 X WWW.EAGLEACADEMYPCS.ORG X 2003 DC TO BUILD THE FOUNDATION FOR A PROMISING FUTURE FOR ALL STUDENTS IN A RICH, ROBUST LEARNING ENVIRONMENT THAT FOSTERS CREATIVITY, PROBLEM-SOLVING ABILITIES, EMPHASIZING COGNITIVE, SOCIAL, AND EMOTIONAL GROWTH BY ENGAGING CHILDREN AS ACTIVE LEARNERS. 7 7 196 0 0 0 7929377 3687472 10744987 11661943 31145 21168 484250 64316 19189759 15434899 0 0 0 0 12100798 12085784 0 0 251396 8460838 8385256 20561636 20471040 -1371877 -5036141 32514175 27102792 22412516 22037274 10101659 5065518 X ON AUGUST 20, 2024, THE SCHOOL'S BOARD OF TRUSTEES (THE BOARD) VOTED TO RELINQUISH THE SCHOOL'S CHARTER AND THE SCHOOL IS CURRENTLY GOING THROUGH DISSOLUTION. THE SCHOOL HAD SUFFERED SIGNIFICANT LOSSES FROM OPERATIONS DUE TO DECLINING ENROLLMENT. DURING THE YEARS ENDED JUNE 30, 2024 AND 2023, THE SCHOOL HAD LOSSES OF APPROXIMATELY $5.0 MILLION AND $1.4 MILLION, RESPECTIVELY, AS EXPENSES CONTINUED TO OUTPACE REVENUE. EFFECTIVE AUGUST 20, 2024, THE SCHOOL'S BASIS OF ACCOUNTING CHANGED TO THE LIQUIDATION BASIS OF ACCOUNTING. 0 0 15070702 11661943 THE SCHOOL PROVIDES EDUCATIONAL OPPORTUNITIES TO POOR AND DISADVANTAGED CHILDREN FROM PRESCHOOL TO THIRD GRADE IN POVERTY IMPACTED HOUSEHOLDS AND ECONOMICALLY DISTRESSED COMMUNITIES IN THE DISTRICT OF COLUMBIA. THE SCHOOL SEEKS TO DEVELOP A SOLID ACADEMIC FOUNDATION FOR EACH STUDENT THROUGH AN INFUSION OF LEARNING TECHNOLOGY THAT ALL STUDENTS AND TEACHERS USE IN THE CLASSROOM. 15070702 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 94 0 1 196 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X JENNIFER LEONARD 2025442646 400 VIRGINIA AVE SW SUITE 710 WASHINGTON DC 20024 AARON LETNER BOARD CHAIR 2.00 X X 0 0 0 AISHAH BRISCOE TREASURER, TRUSTEE 1.00 X X 0 0 0 KEISHA MIMS TRUSTEE 1.00 X 0 0 0 DIONNE BUSSEY-READER TRUSTEE 1.00 X 0 0 0 ANGELLE KWEMO TRUSTEE 1.00 X 0 0 0 SHARNETTA BOONE-RUFFIN TRUSTEE 1.00 X 0 0 0 JACQUELINE DAVIS TRUSTEE 1.00 X 0 0 0 JOE SMITH CHIEF EXECUTIVE OFFICER AND TRUSTEE (01/24 - 05/24 40.00 X 290000 0 23337 SABRINA O'GILVIE DEPUTY CHIEF EXECUTIVE OFFICER AND TRUSTEE (05/24) 40.00 X 220000 0 6738 ALSTON KAREN MARIA X 40.00 X 148351 0 10740 ROBINSON SHARMEL MARGUIT X 40.00 X 137772 0 702 TRIGUEIROS EDUARDO X 40.00 X 123358 0 6960 HAMMETT MELISSA X 40.00 X 121690 0 10693 MCCOLLUM BUTLER PAMELA X 40.00 X 119218 0 0 MAYRA MARTINEZ-FERNANDEZ DEPUTY COO FRO ADVANCEMENT 40.00 X 183512 0 618 TRENICE JETT-JONES COO/SPECIAL EDUCATION DIRECTOR 40.00 X 165000 0 7032 1508901 0 66820 10 0 1 0 WATERMARK BUZZARD POINT 1900 HALF STREET SW WASHINGTON DC 20024 RENT 885919 CAREFIRST BLUE CROSS PO BOX 70250 PHILADELPHIA PA 19176 HEALTH INUSRANCE 858377 JOHN MARSHALL BANK 11 NORTH WASHINGTON STREET SUITE 1 ROCKVILLE MD 20850 DEBT 595775 EDUCATIONAL SOLUTIONS 18503 FAIRFIELD STREET DETROIT MI 48221 LITERACY INTERVIONIST/CLASS MENTOR 498899 CRYSTAL STAR ASSOCIATES 5016 DORSEY HALL DRIVE SUITE 202 ELLICOTT CITY MD 21043 ACCOUNTING 355815 5 3181034 506438 3687472 PER PUPIL REVENUE 611710 11383736 11383736 BEFORE AND AFTER CARE 611710 278207 278207 11661943 21168 21168 46398 0 46398 46398 46398 OTHER INCOME 900099 17918 17918 17918 15434899 11661943 0 85484 10340546 7187304 2989083 164159 1745238 1134405 581746 29087 935445 739002 187089 9354 164979 130333 32996 1650 118868 93924 23755 1189 38619 30509 7724 386 2107898 1665240 421579 21079 52273 41295 10455 523 88428 69858 17686 884 515220 407024 103044 5152 1512174 1265037 235369 11768 445776 352163 89155 4458 DIRECT STUDENT COSTS 1820719 1820719 BAD DEBT EXPENSE 415122 415122 ADMINISTRATIVE FEES 126467 99909 25293 1265 MISCELLANEOUS EXPENSE 27543 21557 5701 285 15725 12423 3145 157 20471040 15070702 5148942 251396 1211373 288137 1690472 556025 1669013 390214 40118 221971 31951 31645124 11030854 21749488 20614270 5931740 5222195 32514175 27102792 1373586 2157220 309659 273092 13774727 13278970 1000000 1000000 5954544 5327992 22412516 22037274 X 10101659 4984878 80640 10101659 5065518 32514175 27102792 -5036141 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 276301 276301 27697270 7970096 19727174 1430998 1166873 264125 2240555 1893885 346670 20614270 DEPOSITS 58833 RIGHT OF USE ASSETS, NET - OPERATING 5163362 5222195 LEASE LIABILITIES - OPERATING 5327992 5327992 X 15434899 0 15434899 0 15434899 20471040 0 20471040 0 20471040 PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), AS WELL AS APPLICABLE THE DISTRICT TAX LAWS. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE SCHOOL PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2024 AND 2023, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR WHICH MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF JUNE 30, 2024, THE STATUTE OF LIMITATIONS FOR FISCAL YEARS 2021 THROUGH 2024 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE SCHOOL FILES TAX RETURNS. IT IS THE SCHOOL'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 0 SCHEDULE E, PART I, LINE 3 THE SCHOOL HAS BEEN AND WILL CONTINUE TO BE AN EQUAL OPPORTUNITY EMPLOYEER. STEPS ARE TAKEN TO MAKE SURE THAT: A) PERSONS ARE RECRUITED, HIRED, ASSIGNED, AND PROMOTED WITHOUT REGARDED TO RACE, RELIGION, COLOR, NATIONAL ORIGIN, CITIZENSHIP, SEX, VETERAN STATUS, UNIFORM SERVICE MEMBER STATUS, AGE, DISABILITY OR ANY OTHER LEGALLY RECOGNIZED PROTECTED PERSONAL CHARACTERISTICS. B). SIMILARLY, ALL PERSONNEL ACTIONS, SUCH AS COMPENSATION, BENEFITS, TRANSFERS, LAYOFFS, AND RECALL FROM LAYOFFS, ACCESS TO TRAINING, EDUCATION, TUITION ASSISTANCE AND SOCIAL RECREATION PROGRAMS ARE ADMINISTERED WITHOUT REGARD TO RACE, RELIGION, COLOR, VETERAN STATUS, UNIFORM SERVICE MEMBER STATUS, NATIONAL ORIGIN, CITIZENSHIP, SEX, AGE, DISABILITY OR ANY OTHER LEGALLY RECOGNIZED PROTECTED PERSONAL CHARACTERISTICS. SCHEDULE E, PART I, LINE 6 AS A DISTRICT OF COLUMBIA PUBLIC CHARTER SCHOOL, EAGLE ACADEMY PUBLIC CHARTER SCHOOL HAS A FUNDING STREAM FROM THE DISTRICT OF COLUMBIA (UNIFORM PER STUDENT FUNDING) AND THE U.S. FEDERAL GOVERNMENT (FEDERAL GRANTS FOR EDUCATION AND OTHER PROGRAMS). SCHEDULE E, PART I, LINE 7 NOT APPLICABLE. FORM 990, SCHEDULE E, PART I, LINE 6: AS A DISTRICT OF COLUMBIA PUBLIC CHARTER SCHOOL, EAGLE ACADEMY PUBLIC CHARTER SCHOOL HAS A FUNDING STREAM FROM THE DISTRICT OF COLUMBIA (UNIFORM PER STUDENT FUNDING) AND THE U.S. FEDERAL GOVERNMENT (FEDERAL GRANTS FOR EDUCATION AND OTHER PROGRAMS). X 0 0 0 0 0 0 0 0 0 JOE SMITH CHIEF EXECUTIVE OFFICER AND TRUSTEE 290000 0 0 0 0 0 0 0 23337 0 313337 0 0 0 SABRINA O'GILVIE DEPUTY CHIEF EXECUTIVE OFFICER AND T 220000 0 0 0 0 0 0 0 6738 0 226738 0 0 0 MAYRA MARTINEZ-FERNANDEZ DEPUTY COO FRO ADVANCEMENT 183512 0 0 0 0 0 0 0 618 0 184130 0 0 0 TRENICE JETT-JONES COO/SPECIAL EDUCATION DIRECTOR 165000 0 0 0 0 0 0 0 7032 0 172032 0 0 0 ALSTON KAREN MARIA X 148351 0 0 0 0 0 0 0 10740 0 159091 0 0 0 FORM 990, PART III, LINE 1 IN ACCORDANCE WITH 38 -1802.13A OF THE DISTRICT CODE REGARDING MANDATORY DISSOLUTION OF A NONPROFIT CORPORATION OPERATING A CHARTER SCHOOL, WHICH IS REFERENCED IN THE SCHOOL'S 2018 CHARTER RENEWAL, THE SCHOOL HAS UNDERTAKEN THE FOLLOWING STEPS: 1. WORKED WITH THE CHARTERING AUTHORITY TO DEVELOP AND EXECUTE A PLAN FOR: A. SCHEDULING A CLOSEOUT AUDIT - THIS WILL OCCUR AFTER THE CONCLUSION OF FISCAL YEAR 2025. B. LIQUIDATING THE CORPORATION'S UNENCUMBERED ASSETS - THE SCHOOL PLANS TO USE ALL OF ITS ASSETS TO SATISFY OUTSTANDING DEBTS; IT ALSO PLANS TO SELL ANY CURRENT PROPERTIES OWNED BY THE SCHOOL TO DO THE SAME. C. DISCHARGING THE CORPORATION'S DEBTS - THE SCHOOL TRANSFERRED AUTHORITY OVER ITS LEASE OF THE PROPERTY AT 3400 WHEELER RD, SE TO THE DISTRICT'S DEPARTMENT OF GENERAL SERVICES (DGS). DGS IN TURN PAID THE REMAINING BALANCE ON THE LOAN CONNECTED TO THIS PROPERTY, THEREBY DISCHARGING THE DEBT. THE SCHOOL IS IN THE PROCESS OF NEGOTIATING WITH THE BANK TO PROVIDE BACK CASH THE BANK FROZE WHILE THE SCHOOL WAS IN DEFAULT OF THE LOAN. THE FINAL AMOUNT WILL BE USED TO PAY CREDITORS. THE SCHOOL IS IN THE PROCESS OF FINALIZING ALL OUTSTANDING PAYABLES. D. DISTRIBUTING THE CORPORATION'S REMAINING ASSETS - ALL NON-CASH OR NON-CASH EQUIVALENT ASSETS (I.E. COMPUTER, EQUIPMENT AND MATERIALS) REQUIRED BY LAW WERE TRANSFERRED TO THE OFFICE OF THE STATE SUPERINTENDENT OF EDUCATION. ANY REMAINING ASSETS WERE MADE AVAILABLE FOR PICK UP OR DISPOSED OF IN JANUARY 2025. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS TYPICALLY REVIEWED BY THE DC PCSB CONTRACTED SUPPORT FOR EAGLE SCHOOL CLOSURE AND ACCOUNTING AS WELL AS THE BOARD OF DIRECTORS BEFORE FILING THE FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE MONITORING AND ENFORCEMENT OF THE CONFLICT OF INTEREST POLICY IS DONE BY POSING THE QUESTION ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S COMPENSATION POLICY IS OUTLINED IN THE EMPLOYEE HANDBOOK. THE EMPLOYEE HANDBOOK IS REVIEWED AND UPDATED ON AN ANNUAL BASIS AND APPROVED BY THE SCHOOL BOARD. THE ORGANIZATION'S COMPENSATION IS ALSO REVIEWED BY THE DISTRICT OF COLUMBIA PUBLIC CHARTER SCHOOL BOARD. THE ORGANIZATION USES A CONTRACTOR TO FACILITATE ITS HUMAN RESOURCES FUNCTION. DUE TO THE SCHOOL'S CLOSURE, CERTAIN COMPENSATION AMOUNTS WERE UNAVAILABLE AT THE TIME OF THE 990'S FILING. THESE AMOUNTS HAVE BEEN ESTIMATED USING THE BEST INFORMATION AVAILABLE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DISCLOSES ITS GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS THROUGH THE DISTRICT OF COLUMBIA PUBLIC CHARTER SCHOOL BOARD'S WEBSITE AND/OR UPON REQUEST. FORM 990, PART XII, LINE 2C: PROCESS THE SAME AS PRIOR YEAR.