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1 | KIPP Massachusetts Public Charter Schools | ||||||||||||||||||||||||||
2 | Balance Sheet | ||||||||||||||||||||||||||
3 | As of January 31, 2023 | ||||||||||||||||||||||||||
4 | As of Date: | 2/20/2024 | |||||||||||||||||||||||||
5 | |||||||||||||||||||||||||||
6 | 30 Lynn School | 40 Boston School | 29 MA Fund | 39 Lynn Fund | 49 Boston Fund | All Locations | |||||||||||||||||||||
7 | Year To Date | Year To Date | Year To Date | Year To Date | Year To Date | Year To Date | |||||||||||||||||||||
8 | 1/31/2024 | 1/31/2024 | 1/31/2024 | 1/31/2024 | 1/31/2024 | 1/31/2024 | |||||||||||||||||||||
9 | Actual | Actual | Actual | Actual | Actual | Actual | |||||||||||||||||||||
10 | Assets | ||||||||||||||||||||||||||
11 | Current Assets | ||||||||||||||||||||||||||
12 | Cash and cash equivalents | ||||||||||||||||||||||||||
13 | 10000 - Citizens Bank KIPP Academy Lynn *0730 | 68,190.64 | 0.00 | 0.00 | 0.00 | 0.00 | 68,190.64 | ||||||||||||||||||||
14 | 10100 - Citizens Bank KIPP Academy Boston *5828 | 0.00 | 1,057,262.39 | 0.00 | 0.00 | 0.00 | 1,057,262.39 | ||||||||||||||||||||
15 | 10110 - Citizens Bank KIPP Academy Boston MMDA *5613 | 0.00 | 2,534,574.81 | 0.00 | 0.00 | 0.00 | 2,534,574.81 | ||||||||||||||||||||
16 | 10200 - Citizens Bank KIPP MA Fund *8653 | 0.00 | 0.00 | 975.66 | 0.00 | 0.00 | 975.66 | ||||||||||||||||||||
17 | 10210 - Citizens Bank KIPP MA Fund MMDA *5664 | 0.00 | 0.00 | 1,875,920.97 | 0.00 | 0.00 | 1,875,920.97 | ||||||||||||||||||||
18 | 10300 - Citizens Bank KIPP Lynn Fund *8831 | 0.00 | 0.00 | 0.00 | 43,081.46 | 0.00 | 43,081.46 | ||||||||||||||||||||
19 | 10310 - Citizens Bank KIPP Lynn Fund MMDA *5656 | 0.00 | 0.00 | 0.00 | 710,307.30 | 0.00 | 710,307.30 | ||||||||||||||||||||
20 | 10320 - Citizens Bank KIPP Lynn Fund CapEx *2767 | 0.00 | 0.00 | 0.00 | 299,201.14 | 0.00 | 299,201.14 | ||||||||||||||||||||
21 | 10400 - Citizens Bank KIPP Boston Fund *8645 | 0.00 | 0.00 | 0.00 | 0.00 | 96,805.53 | 96,805.53 | ||||||||||||||||||||
22 | 10410 - Citizens Bank KIPP Boston Fund MMDA *5648 | 0.00 | 0.00 | 0.00 | 0.00 | 2,939,161.01 | 2,939,161.01 | ||||||||||||||||||||
23 | 10420 - Citizens Bank KIPP Boston Fund CapEx *2775 | 0.00 | 0.00 | 0.00 | 0.00 | 99,916.68 | 99,916.68 | ||||||||||||||||||||
24 | 11000 - PEX Account - Lynn | 5,468.06 | 0.00 | 0.00 | 0.00 | 0.00 | 5,468.06 | ||||||||||||||||||||
25 | 11100 - PEX Account - Boston | 0.00 | 5,156.06 | 0.00 | 0.00 | 0.00 | 5,156.06 | ||||||||||||||||||||
26 | Total Cash and cash equivalents | 73,658.70 | 3,596,993.26 | 1,876,896.63 | 1,052,589.90 | 3,135,883.22 | 9,736,021.71 | ||||||||||||||||||||
27 | Grants and Accounts Receivable | ||||||||||||||||||||||||||
28 | 12993 - Pledges Receivable | 0.00 | 0.00 | 125,000.00 | 0.00 | 0.00 | 125,000.00 | ||||||||||||||||||||
29 | 12994 - Tuition Receivable | 2,478,283.00 | 1,355,130.00 | 0.00 | 0.00 | 0.00 | 3,833,413.00 | ||||||||||||||||||||
30 | 12996 - Nutrition Receivable | 198,517.27 | 102,224.94 | 0.00 | 0.00 | 0.00 | 300,742.21 | ||||||||||||||||||||
31 | 12997 - Medicaid Receivable | 12,126.77 | 4,405.70 | 0.00 | 0.00 | 0.00 | 16,532.47 | ||||||||||||||||||||
32 | 12998 - Grants Receivable | 524,182.50 | 461,259.00 | 0.00 | 0.00 | 0.00 | 985,441.50 | ||||||||||||||||||||
33 | 13000 - Accounts Receivable | 0.00 | 0.00 | 30,000.00 | 0.00 | 0.00 | 30,000.00 | ||||||||||||||||||||
34 | 13100 - Due From Employees | 314.03 | 160.55 | 0.00 | 0.00 | 0.00 | 474.58 | ||||||||||||||||||||
35 | Total Grants and Accounts Receivable | 3,213,423.57 | 1,923,180.19 | 155,000.00 | 0.00 | 0.00 | 5,291,603.76 | ||||||||||||||||||||
36 | Due (to) from | ||||||||||||||||||||||||||
37 | 14000 - Inter Fund Due to Due from | (373,236.72) | (181,806.91) | 125,043.63 | 465,000.00 | (35,000.00) | 0.00 | ||||||||||||||||||||
38 | Total Due (to) from | (373,236.72) | (181,806.91) | 125,043.63 | 465,000.00 | (35,000.00) | 0.00 | ||||||||||||||||||||
39 | Total Current Assets | 2,913,845.55 | 5,338,366.54 | 2,156,940.26 | 1,517,589.90 | 3,100,883.22 | 15,027,625.47 | ||||||||||||||||||||
40 | KIPP_Noncurrent Assets | ||||||||||||||||||||||||||
41 | Intercompany Note Receivable | ||||||||||||||||||||||||||
42 | 17000 - QLICI Intercompany Note Receivable - Lynn Charter | 0.00 | 0.00 | 0.00 | 14,794,496.05 | 0.00 | 14,794,496.05 | ||||||||||||||||||||
43 | 25000 - QLICI Intercompany Note Payable - Lynn Fund | (14,794,496.05) | 0.00 | 0.00 | 0.00 | 0.00 | (14,794,496.05) | ||||||||||||||||||||
44 | Total Intercompany Note Receivable | (14,794,496.05) | 0.00 | 0.00 | 14,794,496.05 | 0.00 | 0.00 | ||||||||||||||||||||
45 | Intercompany Lease Receivable (Payable) | ||||||||||||||||||||||||||
46 | 17100 - Right to Use Asset - High Rock | 2,757,597.25 | 0.00 | 0.00 | 0.00 | 0.00 | 2,757,597.25 | ||||||||||||||||||||
47 | 17200 - Right to Use Asset - Babson | 0.00 | 15,369,292.00 | 0.00 | 0.00 | 0.00 | 15,369,292.00 | ||||||||||||||||||||
48 | 17300 - Right to Use Asset - Wheeler | 24,484,090.20 | 0.00 | 0.00 | 0.00 | 0.00 | 24,484,090.20 | ||||||||||||||||||||
49 | 17400 - Capital Asset Receivable - High Rock | 0.00 | 0.00 | 0.00 | 2,851,614.71 | 0.00 | 2,851,614.71 | ||||||||||||||||||||
50 | 17500 - Capital Asset Receivable - Babson | 0.00 | 0.00 | 0.00 | 0.00 | 15,800,326.81 | 15,800,326.81 | ||||||||||||||||||||
51 | 17600 - Capital Asset Receivable - Wheeler | 0.00 | 0.00 | 0.00 | 25,170,752.59 | 0.00 | 25,170,752.59 | ||||||||||||||||||||
52 | 25100 - Deferred Cash Inflow - High Rock | 0.00 | 0.00 | 0.00 | (2,757,597.25) | 0.00 | (2,757,597.25) | ||||||||||||||||||||
53 | 25200 - Deferred Cash Inflow - Babson | 0.00 | 0.00 | 0.00 | 0.00 | (15,369,292.00) | (15,369,292.00) | ||||||||||||||||||||
54 | 25300 - Deferred Cash Inflow - Wheeler | 0.00 | 0.00 | 0.00 | (24,484,090.20) | 0.00 | (24,484,090.20) | ||||||||||||||||||||
55 | 25400 - Lease Liability - High Rock | (2,851,614.71) | 0.00 | 0.00 | 0.00 | 0.00 | (2,851,614.71) | ||||||||||||||||||||
56 | 25500 - Lease Liability - Babson | 0.00 | (15,800,326.81) | 0.00 | 0.00 | 0.00 | (15,800,326.81) | ||||||||||||||||||||
57 | 25600 - Lease Liability - Wheeler | (25,170,752.59) | 0.00 | 0.00 | 0.00 | 0.00 | (25,170,752.59) | ||||||||||||||||||||
58 | Total Intercompany Lease Receivable (Payable) | (780,679.85) | (431,034.81) | 0.00 | 780,679.85 | 431,034.81 | 0.00 | ||||||||||||||||||||
59 | Capital Assets, net | ||||||||||||||||||||||||||
60 | 15000 - Land - High Rock | 3,918,012.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,918,012.00 | ||||||||||||||||||||
61 | 15100 - Land - Babson | 0.00 | 0.00 | 0.00 | 0.00 | 2,110,848.00 | 2,110,848.00 | ||||||||||||||||||||
62 | 15200 - Land - Wheeler | 0.00 | 0.00 | 0.00 | 625,000.00 | 0.00 | 625,000.00 | ||||||||||||||||||||
63 | 15300 - Building - High Rock | 19,841,559.12 | 0.00 | 0.00 | 5,675,349.00 | 0.00 | 25,516,908.12 | ||||||||||||||||||||
64 | 15400 - Building - Babson | 0.00 | 0.00 | 0.00 | 0.00 | 20,496,268.93 | 20,496,268.93 | ||||||||||||||||||||
65 | 15500 - Building - Wheeler | 0.00 | 0.00 | 0.00 | 28,243,467.51 | 0.00 | 28,243,467.51 | ||||||||||||||||||||
66 | 15600 - Leasehold Improvements | 184,106.00 | 85,580.00 | 0.00 | 1,573,770.40 | 0.00 | 1,843,456.40 | ||||||||||||||||||||
67 | 15700 - Furniture (Capitalized) | 522,727.01 | 363,175.33 | 0.00 | 0.00 | 0.00 | 885,902.34 | ||||||||||||||||||||
68 | 15800 - Equipment (Capitalized) | 67,251.42 | 8,402.78 | 0.00 | 0.00 | 0.00 | 75,654.20 | ||||||||||||||||||||
69 | 15900 - Technology (Capitalized) | 119,884.49 | 0.00 | 0.00 | 135,182.83 | 0.00 | 255,067.32 | ||||||||||||||||||||
70 | 16000 - Furniture, Fixtures, and Equipment - Wheeler | 0.00 | 0.00 | 0.00 | 491,006.78 | 0.00 | 491,006.78 | ||||||||||||||||||||
71 | 16100 - Accumulated Depreciation - High Rock | (5,692,452.94) | 0.00 | 0.00 | (1,058,836.50) | 0.00 | (6,751,289.44) | ||||||||||||||||||||
72 | 16200 - Accumulated Depreciation - Babson | 0.00 | 0.00 | 0.00 | 0.00 | (4,334,684.32) | (4,334,684.32) | ||||||||||||||||||||
73 | 16300 - Accumulated Depreciation - Wheeler | 0.00 | 0.00 | 0.00 | (3,315,528.67) | 0.00 | (3,315,528.67) | ||||||||||||||||||||
74 | 16400 - Accumulated Depreciation - Leasehold Improvements | (132,663.30) | (50,366.75) | 0.00 | (55,712.26) | 0.00 | (238,742.31) | ||||||||||||||||||||
75 | 16500 - Accumulated Depreciation - Furniture | (522,727.01) | (363,175.33) | 0.00 | 0.00 | 0.00 | (885,902.34) | ||||||||||||||||||||
76 | 16600 - Accumulated Depreciation - Equipment | (63,173.15) | (3,501.25) | 0.00 | 0.00 | 0.00 | (66,674.40) | ||||||||||||||||||||
77 | 16700 - Accumulated Depreciation - Technology | (119,884.49) | 0.00 | 0.00 | (135,182.83) | 0.00 | (255,067.32) | ||||||||||||||||||||
78 | 16800 - Accumulated Depreciation - FFE Wheeler | 0.00 | 0.00 | 0.00 | (449,366.77) | 0.00 | (449,366.77) | ||||||||||||||||||||
79 | Total Capital Assets, net | 18,122,639.15 | 40,114.78 | 0.00 | 31,729,149.49 | 18,272,432.61 | 68,164,336.03 | ||||||||||||||||||||
80 | edHealth Assets | ||||||||||||||||||||||||||
81 | 10500 - edHealth TD Bank Checking *3519 | 311,641.95 | 0.00 | 0.00 | 0.00 | 0.00 | 311,641.95 | ||||||||||||||||||||
82 | 10510 - edHealth Citizens Bank Money Market *3902 | 32,700.77 | 0.00 | 0.00 | 0.00 | 0.00 | 32,700.77 | ||||||||||||||||||||
83 | 18000 - Intercompany Prepaid Health Claims Contributions | (144,852.17) | 144,852.17 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||||
84 | 18100 - EdHealth Cumulative Subscriber Surplus | 397,227.84 | 143,522.16 | 0.00 | 0.00 | 0.00 | 540,750.00 | ||||||||||||||||||||
85 | Total edHealth Assets | 596,718.39 | 288,374.33 | 0.00 | 0.00 | 0.00 | 885,092.72 | ||||||||||||||||||||
86 | Total KIPP_Noncurrent Assets | 3,144,181.64 | (102,545.70) | 0.00 | 47,304,325.39 | 18,703,467.42 | 69,049,428.75 | ||||||||||||||||||||
87 | Total Assets | 6,058,027.19 | 5,235,820.84 | 2,156,940.26 | 48,821,915.29 | 21,804,350.64 | 84,077,054.22 | ||||||||||||||||||||
88 | Liabilities and Net Assets | ||||||||||||||||||||||||||
89 | Liabilities | ||||||||||||||||||||||||||
90 | Current Liabilities | ||||||||||||||||||||||||||
91 | Accounts payable and accrued expenses | ||||||||||||||||||||||||||
92 | 20000 - Accounts Payable | 447,189.61 | 286,128.94 | 0.00 | 0.00 | 0.00 | 733,318.55 | ||||||||||||||||||||
93 | 20100 - MTRS Grant Surcharge Payable | 38,057.00 | 49,145.00 | 0.00 | 0.00 | 0.00 | 87,202.00 | ||||||||||||||||||||
94 | 21000 - Payroll Services Payable | 3,930.00 | 1,400.00 | 0.00 | 0.00 | 0.00 | 5,330.00 | ||||||||||||||||||||
95 | 21200 - PFML Withholdings | 7,670.98 | 2,562.33 | 0.00 | 0.00 | 0.00 | 10,233.31 | ||||||||||||||||||||
96 | 21300 - 403B Payable | 4,800.00 | 1,172.00 | 0.00 | 0.00 | 0.00 | 5,972.00 | ||||||||||||||||||||
97 | 21500 - TASC Payable | 7,694.83 | 1,396.63 | 0.00 | 0.00 | 0.00 | 9,091.46 | ||||||||||||||||||||
98 | 21600 - OBRA Payable | 15,842.98 | 4,791.93 | 0.00 | 0.00 | 0.00 | 20,634.91 | ||||||||||||||||||||
99 | 21700 - MTRS Payable | 179,743.33 | 62,231.11 | 0.00 | 0.00 | 0.00 | 241,974.44 | ||||||||||||||||||||
100 | 21800 - EPARS Payable | 5,678.13 | 1,274.37 | 0.00 | 0.00 | 0.00 | 6,952.50 |