Civic Intelligence

National Education Solutions

990 • Fiscal year 2015 • EIN 06-1703957

Jul 01, 2014 to Jun 30, 2015 • Filed on Jun 02, 2016

Organization ProfileWWW.COLORADOVIRTUALACADEMY.ORG
1526 Cole Blvd Ste 200Lakewood, CO 80401

(303) 255-4650

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.12x

Higher debt load relative to assets than 52% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

100th percentile

146.64x

Higher debt load relative to revenue than 100% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

1st percentile

-69256%

Higher net margin than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

1st percentile

-80%

Faster asset growth than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Down

$1,374,340

Down $5,541,746 (-80%) from 2014

Net Assets

Down

$1,213,472

Down $759,737 (-39%) from 2014

Liabilities

Down

$160,868

Down $4,782,009 (-97%) from 2014

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$1,097

Down $16,369,066 (-100%) from 2014

Expenses

Down

$760,834

Down $16,700,115 (-96%) from 2014

Net Income

Up

-$759,737

Up $331,049 (+30%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $6,483,629Liabilities 2011: $3,567,604Net Assets 2011: $2,916,0252011Assets 2012: $6,683,840Liabilities 2012: $3,648,382Net Assets 2012: $3,035,4582012Assets 2013: $6,863,872Liabilities 2013: $3,799,877Net Assets 2013: $3,063,9952013Assets 2014: $6,916,086Liabilities 2014: $4,942,877Net Assets 2014: $1,973,2092014Assets 2015: $1,374,340Liabilities 2015: $160,868Net Assets 2015: $1,213,4722015Assets 2016: $990,952Liabilities 2016: $58,070Net Assets 2016: $932,8822016

Highlighted filing

2015

Assets$1,374,340
Liabilities$160,868
Net Assets$1,213,472
Open 2015 Filing

Operations Trend

Revenue Growth1st percentile

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

$40M$30M$20M$10M$0-$10MExpenses 2011: $30,798,7122011Expenses 2012: $28,798,0512012Revenue 2013: $27,645,807Expenses 2013: $27,617,270Net Income 2013: $28,5372013Revenue 2014: $16,370,163Expenses 2014: $17,460,949Net Income 2014: -$1,090,7862014Revenue 2015: $1,097Expenses 2015: $760,834Net Income 2015: -$759,7372015Revenue 2016: $873Expenses 2016: $281,463Net Income 2016: -$280,5902016

Highlighted filing

2015

Revenue$1,097
Expenses$760,834
Net Income-$759,737
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jun 2, 2016
Return Version
2014v6.0
Gross Receipts
$1,097
Mission and Program Overview

Mission

To engage and inspire all students to innovate, achieve, and succeed in a safe, supportive and high quality educational environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,505,402$947,663▼ $557,739
Accounts Receivable$135,119$372,918▲ $237,799
Cash and Non-Interest-Bearing Accounts$5,219,350$34,169▼ $5,185,181
Land, Buildings, and Equipment, Net$31,115$0▼ $31,115
Prepaid Expenses and Deferred Charges$25,100$19,590▼ $5,510
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$6,916,086$1,374,340▼ $5,541,746
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$4,912,513$130,504▼ $4,782,009
Other Liabilities$30,364$30,364→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$4,942,877$160,868▼ $4,782,009
Net Assets / Fund Balance
Unrestricted Net Assets$1,184,980$1,213,472▲ $28,492
Temporarily Rstr Net Assets$788,229$0▼ $788,229
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$1,973,209$1,213,472▼ $759,737
Total Liabilities and Net Assets / Fund Balance$6,916,086$1,374,340▼ $5,541,746

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$33,200$33,200
Equipment$0$17,741$17,741
Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Brian BissellPresident
Dave FosterDirector
Lew TaylorDirector
Caitlin AlexanderTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Lewis Roca RothgerberProfessional Services1200 Seventeenth St Suite 3000, Denver, CO 80202$175,022
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,097
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$-759,737
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$404,790
Other Expenses$356,044
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$304,675$0$0$304,675
Office Expenses$141,923$0$0$141,923
Other Employee Benefits$100,115$0$0$100,115
Occupancy$57,125$0$0$57,125
Depreciation Depletion$32,607$0$0$32,607
Advertising$29,088$0$0$29,088
Fees for Services Legal$0$29,044$0$29,044
Information Technology$27,692$0$0$27,692
Fees for Services Other$17,539$0$0$17,539
Fees for Services Accounting$0$9,150$0$9,150
Insurance$0$6,220$0$6,220
Conferences and Meetings$5,656$0$0$5,656
Total Functional Expenses$716,420$44,414$0$760,834
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Reserve for State Equalization Payable$30,364
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
No
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

Part VI, Section B, Line 11B

“The treasurer reviews the form 990 in detail. The board members are provided a copy and asked to review and provide feedback before filing.”

Part VI, Section B, Line 12C

“Any conflicts are written in a disclosure statement, signed and kept on file. All of our board members are also directors or officers of other schools and/or are engaged in businesses related to or compatible with the education and youth services industries. As such, they frequently conduct business with each other and on the same terms and conditions as they conduct business with others.”

Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
COVCS Inc
EIN
06-1703957
In Care Of
% Caitlin Alexander
Phone
3032554650
Address
1526 Cole Blvd Ste 200, Lakewood, CO 80401

Signing Officer

Name
Caitlin Alexander
Title
Treasurer
Phone
3032554580
Signed
2016-06-02

Organization Details

Principal Officer
Caitlin Alexander
Formed
2003
Legal Domicile
Co
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4
Supplemental Narrative

Additional Explanations

Part III, line 3

“COVCS ceased utilizing K12 curriculum and operation of Colorado Virtual Academy. COVCS continues to fulfill its mission by providing program and support services to Colorado online students in grades K-12.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0100115
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0100115
IRS990/OtherLiabilitiesGrp/BOYAmt030364
IRS990/OtherLiabilitiesGrp/EOYAmt030364
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0304675
IRS990/OtherSalariesAndWagesGrp/TotalAmt0304675
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/FundraisingAmt00
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt00
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt00
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt025100
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt019590
IRS990/PrincipalOfficerNm0Caitlin Alexander
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt016361844
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt08319
IRS990/PymtTravelEntrtnmntPubOfclGrp/FundraisingAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ProgramServicesAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt013617752
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-1090786
IRS990/PYSalariesCompEmpBnftPaidAmt03843197
IRS990/PYTotalExpensesAmt017460949
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt016370163
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-759737
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ReservesMaintainedAmt00
IRS990/RevenueAmt00
IRS990/RoyaltiesGrp/FundraisingAmt00
IRS990/RoyaltiesGrp/ManagementAndGeneralAmt00
IRS990/RoyaltiesGrp/ProgramServicesAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01505402
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0947663
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt017741
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt017741
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt033200
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt033200
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt030364
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RESERVE FOR STATE EQUALIZATION PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt030364
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0WEBSITE & PRINTED MATERIALS
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Part 1, line 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COVCS ceased utilizing K12 curriculum and operation of Colorado Virtual Academy. COVCS continues to fulfill its mission by providing program and support services to Colorado online students in grades K-12.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TREASURER REVIEWS THE FORM 990 IN DETAIL. THE BOARD MEMBERS ARE PROVIDED A COPY AND ASKED TO REVIEW AND PROVIDE FEEDBACK BEFORE FILING.

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,374,340
Liabilities
$160,868
Net assets
$1,213,472
Revenue
$1,097
Expenses
$760,834
Net income
-$759,737
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.99$0.06$0.93$0.00$0.28$0.28
2015Detailed filing. Detailed filing data is available for this year.$1.37$0.16$1.21$0.00$0.76$0.76
2014Detailed filing. Detailed filing data is available for this year.$6.92$4.94$1.97$16.4$17.5$1.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.86$3.80$3.06$27.6$27.6$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.68$3.65$3.04$28.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.48$3.57$2.92$30.8
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $1M-$5M nonprofits