Civic Intelligence

Horizon Science Acadamey Toledo

990 • Fiscal year 2019 • EIN 20-0524037

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 20, 2020

Organization Profilewww.horizontoledo.org
2600 W Sylvania AveToledo, OH 43613

(419) 474-3350

Siviq Scores

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

Liabilities / Assets

99th percentile

2.85x

Higher debt load relative to assets than 99% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

84th percentile

1.19x

Higher debt load relative to revenue than 84% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

68th percentile

11%

Higher net margin than 68% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

32nd percentile

$80,620

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

7th percentile

-14%

Faster asset growth than 7% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

56th percentile

5.9%

Faster revenue growth than 56% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$2,580,146

Down $422,169 (-14%) from 2018

Net Assets

Up

-$4,765,891

Up $687,558 (+13%) from 2018

Liabilities

Down

$7,346,037

Down $1,109,727 (-13%) from 2018

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin68th percentile

Revenue

Up

$6,162,600

Up $341,416 (+5.9%) from 2018

Expenses

Up

$5,475,042

Up $1,975,115 (+56%) from 2018

Net Income

Down

$687,558

Down $1,633,699 (-70%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$20M$10M$0-$10MAssets 2011: $194,459Liabilities 2011: $107,559Net Assets 2011: $86,9002011Assets 2012: $296,766Liabilities 2012: $511,297Net Assets 2012: -$214,5312012Assets 2013: $382,244Liabilities 2013: $325,262Net Assets 2013: $56,9822013Assets 2014: $711,868Liabilities 2014: $460,451Net Assets 2014: $251,4172014Assets 2015: $1,041,576Liabilities 2015: $6,954,815Net Assets 2015: -$5,913,2392015Assets 2016: $1,906,395Liabilities 2016: $7,829,944Net Assets 2016: -$5,923,5492016Assets 2017: $2,844,679Liabilities 2017: $9,146,362Net Assets 2017: -$6,301,6832017Assets 2018: $3,002,315Liabilities 2018: $8,455,764Net Assets 2018: -$5,453,4492018Assets 2019: $2,580,146Liabilities 2019: $7,346,037Net Assets 2019: -$4,765,8912019Assets 2020: $2,635,313Liabilities 2020: $7,503,598Net Assets 2020: -$4,868,2852020Assets 2021: $3,975,902Liabilities 2021: $7,126,552Net Assets 2021: -$3,150,6502021Assets 2022: $14,442,752Liabilities 2022: $16,009,784Net Assets 2022: -$1,567,0322022Assets 2023: $17,120,684Liabilities 2023: $16,240,765Net Assets 2023: $879,9192023Assets 2024: $16,690,350Liabilities 2024: $16,049,322Net Assets 2024: $641,0282024

Highlighted filing

2019

Assets$2,580,146
Liabilities$7,346,037
Net Assets-$4,765,891
Open 2019 Filing

Operations Trend

Revenue Growth56th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $2,278,504Expenses 2011: $2,373,591Net Income 2011: -$95,0872011Revenue 2012: $2,286,852Expenses 2012: $2,588,283Net Income 2012: -$301,4312012Revenue 2013: $4,886,051Expenses 2013: $4,614,537Net Income 2013: $271,5142013Revenue 2014: $5,786,242Expenses 2014: $5,591,758Net Income 2014: $194,4842014Revenue 2015: $6,129,244Expenses 2015: $6,037,216Net Income 2015: $92,0282015Revenue 2016: $6,157,240Expenses 2016: $6,167,550Net Income 2016: -$10,3102016Revenue 2017: $6,620,845Expenses 2017: $7,059,135Net Income 2017: -$438,2902017Revenue 2018: $5,821,184Expenses 2018: $3,499,927Net Income 2018: $2,321,2572018Revenue 2019: $6,162,600Expenses 2019: $5,475,042Net Income 2019: $687,5582019Revenue 2020: $5,951,574Expenses 2020: $6,053,968Net Income 2020: -$102,3942020Revenue 2021: $7,835,205Expenses 2021: $6,117,570Net Income 2021: $1,717,6352021Revenue 2022: $8,692,576Expenses 2022: $7,108,958Net Income 2022: $1,583,6182022Revenue 2023: $10,968,917Expenses 2023: $8,521,966Net Income 2023: $2,446,9512023Revenue 2024: $8,933,789Expenses 2024: $9,172,680Net Income 2024: -$238,8912024

Highlighted filing

2019

Revenue$6,162,600
Expenses$5,475,042
Net Income$687,558
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 20, 2020
Return Version
2018v3.3
Gross Receipts
$6,162,600
Mission and Program Overview

Mission

Horizon Science Academy Toledo is a public charter school that serving grades K through 12 for children in Toledo, OH. The school is a college prep school focusing on math, science and technology education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$2,575,169$2,120,888▼ $454,281
Land, Buildings, and Equipment, Net$325,958$275,860▼ $50,098
Cash and Non-Interest-Bearing Accounts-$143,194-
Pledges and Grants Receivable$97,953$33,219▼ $64,734
Accounts Receivable$3,235$6,985▲ $3,750
Total Assets$3,002,315$2,580,146▼ $422,169
Liabilities
Other Liabilities$7,392,201$5,650,160▼ $1,742,041
Deferred Revenue$590,188$1,385,358▲ $795,170
Accounts Payable and Accrued Expenses$473,375$310,519▼ $162,856
Total Liabilities$8,455,764$7,346,037▼ $1,109,727
Net Assets / Fund Balance
Unrestricted Net Assets$-5,453,449$-4,765,891▲ $687,558
Total Net Assets Fund Balance$-5,453,449$-4,765,891▲ $687,558
Total Liabilities and Net Assets / Fund Balance$3,002,315$2,580,146▼ $422,169

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$195,855$215,862$411,717
Leasehold Improvements$80,005$90,376$170,381
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Aydin KaraSchool PrincipalFT$80,620$80,620

Board Members and Trustees

NameTitle
Ziya BaghmanliBoard President
Bill BrownBoard Member
Heidi HatchBoard Member
Heidi Stenson-WilsonBoard Member
Jacqueline BlueittBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$6,090,868
Program Service Revenue
$71,732
Investment Income
$0
Other Revenue
$0
All Other Contributions
$442,055
Change in Net Assets
$687,558
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,800,053
Other Expenses$2,674,989
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,495,473--$2,495,473
Occupancy$905,788--$905,788
Fees for Services Management-$572,055-$572,055
Other Employee Benefits$329,463--$329,463
All Other Expenses$276,634--$276,634
Other Expenses$28,768$113,071-$113,071
Depreciation Depletion$84,915--$84,915
Comp Disqual Persons-$74,244-$74,244
Office Expenses$62,294--$62,294
Payroll Taxes$34,386--$34,386
Insurance$20,957--$20,957
Fees for Services Legal$18,005--$18,005
Travel-$8,259-$8,259
Advertising$7,722--$7,722
Interest$2,646--$2,646
Pension Plan Contributions$-133,513--$-133,513
Total Functional Expenses$4,707,413$767,629$0$5,475,042
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
Federal income taxes$5,322,392
Net Pension Liability$316,428
Net OPEB Liability$11,340
Capital Lease-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The School is in contract with Concept Schools Inc., an Illinois based not-for-profit organization to provide instructional, administrative and financial management. The Schools Superintendent and Treasurer are appointed and compensated by Concept Schools. Concept Schools also provide a wide range of services such as budgeting and financial oversight, School Management Database, quarterly OAT/OGT Practice tests, curriculum alignment, professional development and evaluation services for teachers, etc. In return of those services, the School transfers 10 of its total revenue to the management company. Financial Reports are presented to the School Board for approval in Board Meetings. All employment and major business decisions are also subject to the School Boards approval.”

Form 990, Part VI, Section B, Line 11B

“Form 990 is prepared by the School Treasurer and a copy is provided to the Board Members for review in the Board Meeting.”

Form 990, Part VI, Section B, Line 12C

“The Conflict of Interest Policy is part of the Schools By-Laws. The School Board consistently reviews and discusses any issues that might be in conflict with the policy in the Board Meetings. All operations of the School is also monitored by the Schools Sponsor and annually audited by the Auditors of State.”

Form 990, Part VI, Section B, Line 15

“All employment decisions and compensations are discussed and approved in the Board Meetings.”

Form 990, Part VI, Section C, Line 19

“The Schools Annual Audit Report is published on Auditors of States web site at http//www.ohioauditor.gov. All governing documents and the Schools Conflict of Interest Policy is available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Horizon Science Academy Toledo
EIN
20-0524037
Phone
4194743350
Address
2600 W Sylvania Ave, Toledo, OH 43613

Signing Officer

Name
Ramazan Celep
Title
Treasurer
Phone
8478243380
Signed
2020-04-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aydin Kara
Formed
2003
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
76

Preparer

Firm
Gueye and Associates CPA Inc
Address
2246 S HAMILTON RD SUITE 102, COLUMBUS, OH 43232
Preparer
Alioune Gueye
Phone
6143420297
Supplemental Narrative

Additional Explanations

Form 990, Part X, Line 25

“This is the amount of Net Pension Liability calculated according to GASB Statement No. 68 and 75.”

Raw XML Appendix388 raw XML fields

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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net OPEB Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Capital Lease
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
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IRS990ScheduleD/TotalLiabilityAmt05650160
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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The School receives federal and state grants. Total grants received was 5,648,814.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The School is in contract with Concept Schools Inc., an Illinois based not-for-profit organization to provide instructional, administrative and financial management. The Schools Superintendent and Treasurer are appointed and compensated by Concept Schools. Concept Schools also provide a wide range of services such as budgeting and financial oversight, School Management Database, quarterly OAT/OGT Practice tests, curriculum alignment, professional development and evaluation services for teachers, etc. In return of those services, the School transfers 10 of its total revenue to the management company. Financial Reports are presented to the School Board for approval in Board Meetings. All employment and major business decisions are also subject to the School Boards approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is prepared by the School Treasurer and a copy is provided to the Board Members for review in the Board Meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Conflict of Interest Policy is part of the Schools By-Laws. The School Board consistently reviews and discusses any issues that might be in conflict with the policy in the Board Meetings. All operations of the School is also monitored by the Schools Sponsor and annually audited by the Auditors of State.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All employment decisions and compensations are discussed and approved in the Board Meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Schools Annual Audit Report is published on Auditors of States web site at http//www.ohioauditor.gov. All governing documents and the Schools Conflict of Interest Policy is available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5This is the amount of Net Pension Liability calculated according to GASB Statement No. 68 and 75.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part X, Line 25
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IRS990/TotalFunctionalExpensesGrp/TotalAmt05475042
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt07346037
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-4765891
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IRS990/TravelGrp/ManagementAndGeneralAmt08259
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IRS990/WebsiteAddressTxt0www.horizontoledo.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Ramazan Celep
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum08478243380
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Horizon Science Academy Toledo
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.149.183.28
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ReturnHeader/FilingSecurityInformation/IPTm023:01:07
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GUEYE AND ASSOCIATES CPA INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02246 S HAMILTON RD SUITE 102
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COLUMBUS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd043232
ReturnHeader/PreparerPersonGrp/PhoneNum06143420297
ReturnHeader/PreparerPersonGrp/PreparationDt02020-04-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALIOUNE GUEYE
ReturnHeader/ReturnTs02020-04-20T07:14:49-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,580,146
Liabilities
$7,346,037
Net assets
-$4,765,891
Revenue
$6,162,600
Expenses
$5,475,042
Net income
$687,558
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.7$16.0$0.64$8.93$9.17$0.24
2023Detailed filing. Detailed filing data is available for this year.$17.1$16.2$0.88$11.0$8.52$2.45
2022Detailed filing. Detailed filing data is available for this year.$14.4$16.0$1.57$8.69$7.11$1.58
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.98$7.13$3.15$7.84$6.12$1.72
2020Detailed filing. Detailed filing data is available for this year.$2.64$7.50$4.87$5.95$6.05$0.10
2019Detailed filing. Detailed filing data is available for this year.$2.58$7.35$4.77$6.16$5.48$0.69
2018Summary only. Only limited summary data is available for this year.$3.00$8.46$5.45$5.82$3.50$2.32
2017Summary only. Only limited summary data is available for this year.$2.84$9.15$6.30$6.62$7.06$0.44
2016Summary only. Only limited summary data is available for this year.$1.91$7.83$5.92$6.16$6.17$0.01
2015Summary only. Only limited summary data is available for this year.$1.04$6.95$5.91$6.13$6.04$0.09
2014Summary only. Only limited summary data is available for this year.$0.71$0.46$0.25$5.79$5.59$0.19
2013Summary only. Only limited summary data is available for this year.$0.38$0.33$0.06$4.89$4.61$0.27
2012Summary only. Only limited summary data is available for this year.$0.30$0.51$0.21$2.29$2.59$0.30
2011Summary only. Only limited summary data is available for this year.$0.19$0.11$0.09$2.28$2.37$0.10