Civic Intelligence

Synergy Academies

990 • Fiscal year 2014 • EIN 20-0672173

Jul 01, 2013 to Jun 30, 2014 • Filed on Mar 23, 2015

Organization ProfileWWW.WEARESYNERGY.ORG

View Organization Page

PO Box 7899990016

(323) 235-7960

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.04x

Higher debt load relative to assets than 22% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

11th percentile

0.03x

Higher debt load relative to revenue than 11% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

73rd percentile

13%

Higher net margin than 73% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

44th percentile

$153,565

Higher top officer pay than 44% of similar nonprofits.

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

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

83rd percentile

17%

Faster asset growth than 83% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

82nd percentile

27%

Faster revenue growth than 82% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Up

$8,643,112

Up $1,254,566 (+17%) from 2013

Net Assets

Up

$8,327,645

Up $1,623,210 (+24%) from 2013

Liabilities

Down

$315,467

Down $368,644 (-54%) from 2013

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin73rd percentile

Revenue

$12,085,563

No earlier filing loaded for comparison.

Expenses

Up

$10,462,353

Up $1,825,881 (+21%) from 2013

Net Income

$1,623,210

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$30M$20M$10M$0Assets 2011: $2,959,037Liabilities 2011: $602,182Net Assets 2011: $2,356,8552011Assets 2012: $5,533,080Liabilities 2012: $764,840Net Assets 2012: $4,768,2402012Assets 2013: $7,388,546Liabilities 2013: $684,111Net Assets 2013: $6,704,4352013Assets 2014: $8,643,112Liabilities 2014: $315,467Net Assets 2014: $8,327,6452014Assets 2015: $9,936,074Liabilities 2015: $678,836Net Assets 2015: $9,257,2382015Assets 2016: $11,056,694Liabilities 2016: $762,338Net Assets 2016: $10,294,3562016Assets 2017: $12,401,565Liabilities 2017: $887,213Net Assets 2017: $11,514,3522017Assets 2018: $13,260,922Liabilities 2018: $402,998Net Assets 2018: $12,857,9242018Assets 2019: $15,032,055Liabilities 2019: $947,313Net Assets 2019: $14,084,7422019Assets 2020: $16,950,650Liabilities 2020: $1,352,064Net Assets 2020: $15,598,5862020Assets 2021: $20,132,785Liabilities 2021: $1,961,777Net Assets 2021: $18,171,0082021Assets 2022: $22,403,920Liabilities 2022: $2,551,594Net Assets 2022: $19,852,3262022Assets 2023: $28,614,480Liabilities 2023: $7,018,676Net Assets 2023: $21,595,8042023

Highlighted filing

2014

Assets$8,643,112
Liabilities$315,467
Net Assets$8,327,645
Open 2014 Filing

Operations Trend

Revenue Growth82nd percentile

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

$30M$20M$10M$0Revenue 2011: $5,939,880Expenses 2011: $4,893,995Net Income 2011: $1,045,8852011Expenses 2012: $7,325,5662012Expenses 2013: $8,636,4722013Revenue 2014: $12,085,563Expenses 2014: $10,462,353Net Income 2014: $1,623,2102014Revenue 2015: $13,879,884Expenses 2015: $12,950,291Net Income 2015: $929,5932015Revenue 2016: $16,478,011Expenses 2016: $15,440,893Net Income 2016: $1,037,1182016Revenue 2017: $17,023,101Expenses 2017: $15,803,105Net Income 2017: $1,219,9962017Revenue 2018: $17,526,220Expenses 2018: $16,182,648Net Income 2018: $1,343,5722018Revenue 2019: $18,415,183Expenses 2019: $17,188,365Net Income 2019: $1,226,8182019Revenue 2020: $18,663,937Expenses 2020: $17,150,093Net Income 2020: $1,513,8442020Revenue 2021: $19,751,709Expenses 2021: $17,179,287Net Income 2021: $2,572,4222021Revenue 2022: $21,618,793Expenses 2022: $19,909,661Net Income 2022: $1,709,1322022Revenue 2023: $25,797,227Expenses 2023: $23,980,688Net Income 2023: $1,816,5392023

Highlighted filing

2014

Revenue$12,085,563
Expenses$10,462,353
Net Income$1,623,210
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Mar 23, 2015
Return Version
2013v4.0
Gross Receipts
$12,100,727
Mission and Program Overview

Mission

We work together as a community to disrupt educational inequity by providing high quality instruction, support, and access for all students to excel.

Synergy academies' mission is to create and share solutions that eliminate the achievement gap. Synergy creates and shares solutions through the operation of urban public charter schools in south los angeles that implement a holistic approach to education, believe in collective accountability, and share best practices through professional collaboration.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,864,461$5,878,498▲ $3,014,037
Accounts Receivable$3,544,344$1,818,220▼ $1,726,124
Savings and Temporary Cash Investments$803,402$806,407▲ $3,005
Prepaid Expenses and Deferred Charges$121,841$106,052▼ $15,789
Land, Buildings, and Equipment, Net$54,498$33,935▼ $20,563
Total Assets$7,388,546$8,643,112▲ $1,254,566
Liabilities
Accounts Payable and Accrued Expenses$439,813$199,498▼ $240,315
Other Liabilities$244,298$115,969▼ $128,329
Total Liabilities$684,111$315,467▼ $368,644
Net Assets / Fund Balance
Unrestricted Net Assets$6,623,505$8,275,733▲ $1,652,228
Temporarily Rstr Net Assets$80,930$51,912▼ $29,018
Total Net Assets Fund Balance$6,704,435$8,327,645▲ $1,623,210
Total Liabilities and Net Assets / Fund Balance$7,388,546$8,643,112▲ $1,254,566

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$33,935$239,530$273,465
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Randolph PalisocChief AchievFT$141,369$12,196$153,565
Randolph PalisocChief Achievement of-$123,413$30,152$153,565
Margaret PalisocChief ExecutFT$123,096$21,284$144,380
Jennifer EppsAsst.chief aFT$109,189$22,389$131,578
Christina VogelDirector ofFT$77,890$10,349$88,239

Board Members and Trustees

NameTitle
Ashwin VasavadaChair
Eric MedinaVice Chair
Anil MuhammedMember
Brian HolmanMember
Charyn HarrisMember
David HyunMember
Jared SopkoMember
Joann KoplinMember
Jose GarciaMember
Kevin CoxMember
Masako CarpenterMember
Revenue and Support

Revenue Composition

Contributions and Grants
$12,062,976
Program Service Revenue
$0
Investment Income
$1,244
Other Revenue
$21,343
All Other Contributions
$223,905
Change in Net Assets
$1,623,210

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,085,563
Revenue Not Reported on Form 990
$15,164
Total Revenue per Audited Statements
$12,100,727
Total Revenue per Form 990
$12,085,563
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,899,422
Other Expenses$3,562,931
Total Fundraising Expense$34,480
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,854,920$398,458-$5,253,378
Fees for Services Other$577,146$129,367-$706,513
Other Employee Benefits$582,608$25,336-$607,944
Occupancy$517,860--$517,860
Pension Plan Contributions$408,843$35,045-$443,888
Current Officers, Directors, Trustees, and Key Employees$188,104$208,300-$396,404
Payroll Taxes$177,652$20,156-$197,808
Conferences and Meetings$149,382$6,760-$156,142
Office Expenses$47,753$72,468-$120,221
Fees for Services Management$86,893--$86,893
Insurance-$71,409-$71,409
Travel$56,312$14,485-$70,797
All Other Expenses$30,516$4,331$34,480$69,327
Fees for Services Accounting-$58,225-$58,225
Other Expenses$38,253--$38,253
Advertising$24,530$5,373-$29,903
Depreciation Depletion$20,563--$20,563
Fees for Services Legal-$3,839-$3,839
Information Technology-$1,670-$1,670
Total Functional Expenses$9,372,651$1,055,222$34,480$10,462,353

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$10,477,517
Expenses per Audited Statements$10,462,353
Total Expenses per Form 990$10,462,353
Expenses Not Reported on Form 990$15,164
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$18,964
Fundraising Direct Expenses$15,164
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$18,964$18,964$15,164$3,800
Total Events$18,964$18,964$15,164$3,800
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$115,969
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 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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Margaret palisoc randolph palisoc ceo/founder cao/founder husband and wife”

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

“The return is initially reviewed by mangement and then reviewed by the board prior to filing the return.”

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

“Synergy's officers, directors or trustees, and key employees complete form 700 each year to publicly disclose any potential conflicts of interest. Form 700 is a public document, and copies are retained at synergy acadmies and the originals are maintained by the los angeles unified school district.”

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

“Synergy acadmies has a compensation policy in which no management offical including directors and key employees may be compensated without board approval. In addition, the reasonableness of compensation will be reviewed to comparable data and the deliberation and decision of the reasonableness of the compensation will be documented in the corporate minute books. This process will review the fairness of any compensation to these top management officals upon their hire or change in compensation.”

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

“SEE ABOVE EXPLANATION.”

Form 990, Page 6, Part VI, Line 19

“The school provides its governing documents, conflict of interest policy and financial statements to the public upon request.”

Filing and Contact Details

Filer

EIN
20-0672173
Phone
3232357960

Signing Officer

Name
Christina Vogel
Title
Treasurer
Phone
3232357960
Signed
2015-03-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christina Vogel
Formed
2004
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
11
Employees
133
Volunteers
15

Preparer

Preparer
Derrick Debruyne CPA
Phone
6268577300
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

“Kinetic academy and synergy quantum academy”

FORM 990 - ORGANIZATION'S MISSION

“Synergy academies' mission is to create and share solutions that eliminate the achievement gap. Synergy creates and shares solutions through the operation of urban public charter schools in south los angeles that implement a holistic approach to education, believe in collective accountability, and share best practices through professional collaboration.”

Form 990, Part XI, Line 9

“Fundraising expense 15,164 fundraising expense -15,164”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is a non-profit entity exempt from the payment of income taxes under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. Accordingly, no provision has been made for income taxes. Management has determined that all income tax positions are more likely than not of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. Synergy files informational returns in the u.s. Federal jurisdiction, and the state of california. The statute of limitations for federal and california state purposes is generally three and four years, respectively.”

Schedule D, Page 4, Part XI, Line 2D

“Fundraising expense 15,164”

Schedule D, Page 4, Part XII, Line 2D

“Fundraising expense 15,164”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHIEF ACHIEV
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHIEF EXECUT
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR OF
IRS990/Form990PartVIISectionAGrp/TitleTxt14ASST.CHIEF A
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IRS990/MissionDesc0SYNERGY ACADEMIES' MISSION IS TO CREATE AND SHARE SOLUTIONS THAT ELIMINATE THE ACHIEVEMENT GAP. SYNERGY CREATES AND SHARES SOLUTIONS THROUGH THE OPERATION OF URBAN PUBLIC CHARTER SCHOOLS IN SOUTH LOS ANGELES THAT IMPLEMENT A HOLISTIC APPROACH TO EDUCATION, BELIEVE IN COLLECTIVE ACCOUNTABILITY, AND SHARE BEST PRACTICES THROUGH PROFESSIONAL COLLABORATION.
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IRS990/OtherExpensesGrp/Desc0INSTRUCTIONAL MATERIALS
IRS990/OtherExpensesGrp/Desc1AFTER-SCHOOL PROGRAMS
IRS990/OtherExpensesGrp/Desc2FIELD TRIPS
IRS990/OtherExpensesGrp/Desc3DUES AND MEMBERSHIPS
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IRS990/PrincipalOfficerNm0CHRISTINA VOGEL
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
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IRS990ScheduleD/RevenueNotReportedAmt015164
IRS990ScheduleD/RevenueSubtotalAmt012085563
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NON-PROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. SYNERGY FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF CALIFORNIA. THE STATUTE OF LIMITATIONS FOR FEDERAL AND CALIFORNIA STATE PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSE 15,164
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSE 15,164
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt033935
IRS990ScheduleD/TotalExpensesPerForm990Amt010462353
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IRS990ScheduleD/TotalRevenuePerForm990Amt012085563
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SYNERGY ACADEMIES MAKES ITS NONDISCRIMINATORY POLICY KNOWN THROUGH THEIR WEBSITE AND ON THE STUDENT'S APPLICATIONS. SYNERGY DRAWS ITS STUDENTS FROM THE LOCAL COMMUNITY, AND CURRENTLY ENROLLS STUDENTS OF RACIAL MINORITY GROUPS IN MEANINGFUL NUMBERS (92.5% LATINO, 7% AFRICAN-AMERICAN, AND .5% OTHER).
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1AS A CHARTER SCHOOL, SYNERGY ACADEMIES WILL RECEIVE A PER ADA FEE FROM THE CALIFORNIA DEPARTMENT OF EDUCATION FOR EVERY PUPIL ATTENDING THE SCHOOL. ADDITIONALLY, SYNERGY ACADEMIES IS ELIGIBLE FOR LOCAL, STATE, AND FEDERAL PROGRAMS, AND CALIFORNIA LOTTERY FUNDS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt018964
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0RANDOLPH PALISOC
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF ACHIEVEMENT OF
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0KINETIC ACADEMY AND SYNERGY QUANTUM ACADEMY

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,643,112
Liabilities
$315,467
Net assets
$8,327,645
Revenue
$12,085,563
Expenses
$10,462,353
Net income
$1,623,210
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$28.6$7.02$21.6$25.8$24.0$1.82
2022Summary only. Only limited summary data is available for this year.$22.4$2.55$19.9$21.6$19.9$1.71
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.1$1.96$18.2$19.8$17.2$2.57
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.0$1.35$15.6$18.7$17.2$1.51
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.0$0.95$14.1$18.4$17.2$1.23
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.3$0.40$12.9$17.5$16.2$1.34
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.4$0.89$11.5$17.0$15.8$1.22
2016Detailed filing. Detailed filing data is available for this year.$11.1$0.76$10.3$16.5$15.4$1.04
2015Summary only. Only limited summary data is available for this year.$9.94$0.68$9.26$13.9$13.0$0.93
2014Detailed filing. Detailed filing data is available for this year.$8.64$0.32$8.33$12.1$10.5$1.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.39$0.68$6.70$8.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.53$0.76$4.77$7.33
2011Summary only. Only limited summary data is available for this year.$2.96$0.60$2.36$5.94$4.89$1.05