Civic Intelligence

Flagstaff Academy Inc.

990 • Fiscal year 2021 • EIN 02-0688420

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 17, 2021

Organization ProfileWWW.FLAGSTAFFACADEMY.ORG
2040 Miller DriveLongmont, CO 80501

(303) 651-7900

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

98th percentile

1.60x

Higher debt load relative to assets than 98% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

3.45x

Higher debt load relative to revenue than 92% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

77th percentile

33%

Higher net margin than 77% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

34th percentile

$130,595

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

50th percentile

10%

Faster asset growth than 50% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

23rd percentile

-4.5%

Faster revenue growth than 23% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$20,434,615

Up $1,870,107 (+10%) from 2020

Net Assets

Up

-$12,340,101

Up $3,112,707 (+20%) from 2020

Liabilities

Down

$32,774,716

Down $1,242,600 (-3.7%) from 2020

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin77th percentile

Revenue

Down

$9,499,399

Down $443,360 (-4.5%) from 2020

Expenses

Down

$6,386,692

Down $1,616,742 (-20%) from 2020

Net Income

Up

$3,112,707

Up $1,173,382 (+61%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0-$20MAssets 2013: $15,451,137Liabilities 2013: $14,289,060Net Assets 2013: $1,162,0772013Assets 2014: $15,217,558Liabilities 2014: $13,931,625Net Assets 2014: $1,285,9332014Assets 2015: $15,895,942Liabilities 2015: $24,427,524Net Assets 2015: -$8,531,5822015Assets 2016: $17,602,482Liabilities 2016: $26,841,455Net Assets 2016: -$9,238,9732016Assets 2017: $26,736,552Liabilities 2017: $39,813,757Net Assets 2017: -$13,077,2052017Assets 2018: $26,172,937Liabilities 2018: $44,374,458Net Assets 2018: -$18,201,5212018Assets 2019: $21,663,627Liabilities 2019: $39,472,614Net Assets 2019: -$17,808,9872019Assets 2020: $18,564,508Liabilities 2020: $34,017,316Net Assets 2020: -$15,452,8082020Assets 2021: $20,434,615Liabilities 2021: $32,774,716Net Assets 2021: -$12,340,1012021Assets 2022: $18,966,177Liabilities 2022: $27,602,278Net Assets 2022: -$8,636,1012022Assets 2023: $18,744,342Liabilities 2023: $27,353,650Net Assets 2023: -$8,609,3082023Assets 2024: $19,695,220Liabilities 2024: $27,737,029Net Assets 2024: -$8,041,8092024Assets 2025: $18,444,552Liabilities 2025: $25,947,944Net Assets 2025: -$7,503,3922025

Highlighted filing

2021

Assets$20,434,615
Liabilities$32,774,716
Net Assets-$12,340,101
Open 2021 Filing

Operations Trend

Revenue Growth23rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2013: $6,920,505Expenses 2013: $6,339,789Net Income 2013: $580,7162013Revenue 2014: $7,279,454Expenses 2014: $6,920,611Net Income 2014: $358,8432014Revenue 2015: $7,715,606Expenses 2015: $7,303,545Net Income 2015: $412,0612015Revenue 2016: $8,065,069Expenses 2016: $8,772,460Net Income 2016: -$707,3912016Revenue 2017: $8,793,688Expenses 2017: $12,631,920Net Income 2017: -$3,838,2322017Revenue 2018: $9,443,872Expenses 2018: $13,970,382Net Income 2018: -$4,526,5102018Revenue 2019: $9,448,161Expenses 2019: $9,055,627Net Income 2019: $392,5342019Revenue 2020: $9,942,759Expenses 2020: $8,003,434Net Income 2020: $1,939,3252020Revenue 2021: $9,499,399Expenses 2021: $6,386,692Net Income 2021: $3,112,7072021Revenue 2022: $9,522,253Expenses 2022: $5,818,253Net Income 2022: $3,704,0002022Revenue 2023: $10,856,184Expenses 2023: $10,829,391Net Income 2023: $26,7932023Revenue 2024: $11,157,434Expenses 2024: $10,589,935Net Income 2024: $567,4992024Revenue 2025: $11,275,990Expenses 2025: $10,737,573Net Income 2025: $538,4172025

Highlighted filing

2021

Revenue$9,499,399
Expenses$6,386,692
Net Income$3,112,707
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 17, 2021
Return Version
2020v4.0
Gross Receipts
$9,499,399
Mission and Program Overview

Mission

Operation of a charter school.

Operation of a charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,266,987$8,960,930▼ $306,057
Cash and Non-Interest-Bearing Accounts$5,017,944$4,807,715▼ $210,229
Savings and Temporary Cash Investments$1,249,839$1,255,647▲ $5,808
Pledges and Grants Receivable-$240,641-
Prepaid Expenses and Deferred Charges$3,168$8,162▲ $4,994
Rtn Earn Endowment Incm Other Fnds$-15,452,808$-12,340,101▲ $3,112,707
Total Assets$18,564,508$20,434,615▲ $1,870,107
Other Assets Total$3,026,570$5,161,520▲ $2,134,950
Liabilities
Other Liabilities$20,628,030$19,630,134▼ $997,896
Unsecured Notes Loans Payable$13,311,858$12,943,477▼ $368,381
Accounts Payable and Accrued Expenses$42,212$167,814▲ $125,602
Deferred Revenue$35,216$33,291▼ $1,925
Total Liabilities$34,017,316$32,774,716▼ $1,242,600
Net Assets / Fund Balance
Total Net Assets Fund Balance$-15,452,808$-12,340,101▲ $3,112,707
Total Liabilities and Net Assets / Fund Balance$18,564,508$20,434,615▲ $1,870,107

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,655,967$3,755,433$12,411,400
Equipment$304,963$231,559$536,522
Other Assets Org$117,060--
Compensation and Service Providers
Top Officer Pay34th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Wayne GrangerExecutive DiFT$130,595$130,595

Board Members and Trustees

NameTitle
Katie NunleyPresident
Christina GodwinDirector
Jullie PrestopnikDirector
Timothy RumseyDirector
ELIZABETH O'HARASecretary
Brady ToothakerTreasurer
SEAN O'DONOHUEVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,345,933
Program Service Revenue
$7,731,644
Investment Income
$37,167
Other Revenue
$384,655
All Other Contributions
$105,422
Change in Net Assets
$3,112,707

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,499,399
Total Revenue per Audited Statements
$9,499,399
Total Revenue per Form 990
$9,499,399
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,761,110
Other Expenses$2,625,582
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,682,225$1,392,594-$5,074,819
Other Employee Benefits$482,580$220,203-$702,783
Occupancy-$537,408-$537,408
Interest-$511,738-$511,738
All Other Expenses$96,847$105,566-$202,413
Other Expenses$120,166$21,423-$120,166
Insurance-$98,786-$98,786
Fees for Services Other-$89,922-$89,922
Fees for Services Accounting-$48,827-$48,827
Advertising-$36,553-$36,553
Travel-$21,022-$21,022
Depreciation Depletion-$13,495-$13,495
Fees for Services Legal-$2,328-$2,328
Office Expenses-$561-$561
Pension Plan Contributions$-1,359,709$-656,783-$-2,016,492
Total Functional Expenses$3,333,139$3,053,553$0$6,386,692

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,386,692
Total Expenses per Audited Statements$6,386,692
Total Expenses per Form 990$6,386,692
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$12,901,375
Deferred Inflows Related to Pensions$5,594,617
Net Opeb Liability$469,148
Accrued Salaries and Benefits$452,124
Accrued Interest Payable$212,870
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 is reviewed by the organization's financial consultant”

Form 990, Page 6, Part VI, Line 12C

“Annual form is completed by each board member and retained in the organization's policy folder. Board members are reminded at each board meeting of the policy. Board members also inquire about the policy when sensitive topics arise.”

Form 990, Page 6, Part VI, Line 15A

“The executive director's performance is reviewed by the board of directors on an annual basis. The performance review is based on measurable goals established at the beginning of the year. Compensation is adjusted based on achievement of goals and overall performance.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, policies, financials statements, and various other fiscal transparencies disclosures and reports are available on the organization's website. In addition, documents are available at the organization's business office and can be released to the public upon completion of a public records release form.”

Filing and Contact Details

Filer

Filer Name
Flagstaff Academy
EIN
02-0688420
Phone
3036517900
Address
2040 MILLER DRIVE, LONGMONT, CO 80501

Signing Officer

Name
Katie Nunley
Title
President
Phone
3036517900
Signed
2021-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katie Nunley
Formed
2004
Legal Domicile
Co
Voting Board Members
7
Independent Board Members
7
Employees
134
Volunteers
25

Preparer

Firm
Prospective Business Solutions LLC
Address
26 W DRY CREEK CIRCLE SUITE 600, LITTLETON, CO 80120
Preparer
Uli Keeley CPA
Phone
7202176601
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IRS990/ProgramServiceRevenueGrp/Desc2TUITION AND FEES
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IRS990/PYTotalRevenueAmt09942759
IRS990/ReconcilationRevenueExpnssAmt03112707
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IRS990/RelatedEntityInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt03755433
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt012411400
IRS990ScheduleD/EquipmentGrp/BookValueAmt0304963
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0231559
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0536522
IRS990ScheduleD/ExpensesSubtotalAmt06386692
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03797552
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11246908
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2117060
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOWS RELATED TO PENSION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFERRED CHARGES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DEPOSITS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15594617
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2469148
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3452124
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4212870
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOWS RELATED TO PENSIONS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2NET OPEB LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED SALARIES AND BENEFITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4ACCRUED INTEREST PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt09499399
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08960930
IRS990ScheduleD/TotalBookValueOtherAssetsAmt05161520
IRS990ScheduleD/TotalExpensesPerForm990Amt06386692
IRS990ScheduleD/TotalLiabilityAmt019630134
IRS990ScheduleD/TotalRevenuePerForm990Amt09499399
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0false
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THESE POLICIES ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AND AT REQUEST.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVES PPR FUNDING AND OTHER FEDERAL AND STATE GRANTS FROM THE COLORADO DEPARTMENT OF EDUCATION
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS REVIEWED BY THE ORGANIZATION'S FINANCIAL CONSULTANT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUAL FORM IS COMPLETED BY EACH BOARD MEMBER AND RETAINED IN THE ORGANIZATION'S POLICY FOLDER. BOARD MEMBERS ARE REMINDED AT EACH BOARD MEETING OF THE POLICY. BOARD MEMBERS ALSO INQUIRE ABOUT THE POLICY WHEN SENSITIVE TOPICS ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR'S PERFORMANCE IS REVIEWED BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS. THE PERFORMANCE REVIEW IS BASED ON MEASURABLE GOALS ESTABLISHED AT THE BEGINNING OF THE YEAR. COMPENSATION IS ADJUSTED BASED ON ACHIEVEMENT OF GOALS AND OVERALL PERFORMANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, POLICIES, FINANCIALS STATEMENTS, AND VARIOUS OTHER FISCAL TRANSPARENCIES DISCLOSURES AND REPORTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. IN ADDITION, DOCUMENTS ARE AVAILABLE AT THE ORGANIZATION'S BUSINESS OFFICE AND CAN BE RELEASED TO THE PUBLIC UPON COMPLETION OF A PUBLIC RECORDS RELEASE FORM.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03333139
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IRS990/TotalProgramServiceRevenueAmt07731644
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09499399
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt020434615
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IRS990/TravelGrp/TotalAmt021022
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02040 MILLER DRIVE
IRS990/USAddress/CityNm0LONGMONT
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd080501
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IRS990/WebsiteAddressTxt0WWW.FLAGSTAFFACADEMY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KATIE NUNLEY

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$20,434,615
Liabilities
$32,774,716
Net assets
-$12,340,101
Revenue
$9,499,399
Expenses
$6,386,692
Net income
$3,112,707
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.4$25.9$7.50$11.3$10.7$0.54
2024Detailed filing. Detailed filing data is available for this year.$19.7$27.7$8.04$11.2$10.6$0.57
2023Detailed filing. Detailed filing data is available for this year.$18.7$27.4$8.61$10.9$10.8$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.0$27.6$8.64$9.52$5.82$3.70
2021Detailed filing. Detailed filing data is available for this year.$20.4$32.8$12.3$9.50$6.39$3.11
2020Summary only. Only limited summary data is available for this year.$18.6$34.0$15.5$9.94$8.00$1.94
2019Summary only. Only limited summary data is available for this year.$21.7$39.5$17.8$9.45$9.06$0.39
2018Summary only. Only limited summary data is available for this year.$26.2$44.4$18.2$9.44$14.0$4.53
2017Summary only. Only limited summary data is available for this year.$26.7$39.8$13.1$8.79$12.6$3.84
2016Summary only. Only limited summary data is available for this year.$17.6$26.8$9.24$8.07$8.77$0.71
2015Summary only. Only limited summary data is available for this year.$15.9$24.4$8.53$7.72$7.30$0.41
2014Summary only. Only limited summary data is available for this year.$15.2$13.9$1.29$7.28$6.92$0.36
2013Summary only. Only limited summary data is available for this year.$15.5$14.3$1.16$6.92$6.34$0.58