Civic Intelligence

Santa Rosa Academy Inc

EIN 20-3165841 • 501(c)3 • Menifee, CA

Profile

To create a school that is highly regarded for academic excellence within a flexible and innovative learning environment that will effectively develop, sustain and enhance the skills necessary to be life long learners and productive citizens.

27587 LA Piedra RdMenifee, CA 92584

www.santarosaacademy.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

85th percentile

0.77x

Higher debt load relative to assets than 85% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

87th percentile

2.40x

Higher debt load relative to revenue than 87% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

28th percentile

-1.7%

Higher net margin than 28% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

88th percentile

27%

Faster asset growth than 88% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2025

Revenue Growth

30th percentile

-0.1%

Faster revenue growth than 30% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2025

Assets

Up

$80,869,913

Up $28,959,691 (+56%) from 2024

Liabilities

Up

$62,174,714

Up $29,395,721 (+90%) from 2024

Net Assets

Down

$18,695,199

Down $436,030 (-2.3%) from 2024

Revenue

Up

$25,950,401

Up $1,778,099 (+7.4%) from 2024

Expenses

Up

$26,386,431

Up $4,188,695 (+19%) from 2024

Net Income

Down

-$436,030

Down $2,410,596 (-122%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0Assets 2011: $2,555,636Liabilities 2011: $354,291Net Assets 2011: $2,201,3452011Assets 2012: $27,612,951Liabilities 2012: $24,614,790Net Assets 2012: $2,998,1612012Assets 2013: $28,959,417Liabilities 2013: $25,403,411Net Assets 2013: $3,556,0062013Assets 2014: $29,045,765Liabilities 2014: $24,753,770Net Assets 2014: $4,291,9952014Assets 2015: $29,688,099Liabilities 2015: $23,928,225Net Assets 2015: $5,759,8742015Assets 2016: $40,785,424Liabilities 2016: $34,543,745Net Assets 2016: $6,241,6792016Assets 2017: $43,252,406Liabilities 2017: $35,086,103Net Assets 2017: $8,166,3032017Assets 2018: $43,922,939Liabilities 2018: $34,400,286Net Assets 2018: $9,522,6532018Assets 2019: $45,873,620Liabilities 2019: $33,764,718Net Assets 2019: $12,108,9022019Assets 2020: $46,526,791Liabilities 2020: $34,502,059Net Assets 2020: $12,024,7322020Assets 2021: $45,217,494Liabilities 2021: $31,532,073Net Assets 2021: $13,685,4212021Assets 2022: $46,198,054Liabilities 2022: $35,264,429Net Assets 2022: $10,933,6252022Assets 2023: $50,137,247Liabilities 2023: $32,980,586Net Assets 2023: $17,156,6612023Assets 2024: $51,910,222Liabilities 2024: $32,778,993Net Assets 2024: $19,131,2292024Assets 2025: $80,869,913Liabilities 2025: $62,174,714Net Assets 2025: $18,695,1992025

Highlighted filing

2025

Assets$80,869,913
Liabilities$62,174,714
Net Assets$18,695,199

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MRevenue 2011: $4,914,408Expenses 2011: $3,946,077Net Income 2011: $968,3312011Revenue 2012: $6,356,397Expenses 2012: $5,559,581Net Income 2012: $796,8162012Revenue 2013: $6,754,831Expenses 2013: $6,196,986Net Income 2013: $557,8452013Revenue 2014: $9,430,403Expenses 2014: $8,694,414Net Income 2014: $735,9892014Revenue 2015: $12,099,192Expenses 2015: $10,629,939Net Income 2015: $1,469,2532015Revenue 2016: $14,850,347Expenses 2016: $14,368,542Net Income 2016: $481,8052016Revenue 2017: $15,139,934Expenses 2017: $13,215,310Net Income 2017: $1,924,6242017Revenue 2018: $15,101,751Expenses 2018: $13,727,116Net Income 2018: $1,374,6352018Revenue 2019: $16,802,482Expenses 2019: $14,446,310Net Income 2019: $2,356,1722019Revenue 2020: $16,735,808Expenses 2020: $15,804,405Net Income 2020: $931,4032020Revenue 2021: $17,964,141Expenses 2021: $16,303,452Net Income 2021: $1,660,6892021Revenue 2022: $16,730,823Expenses 2022: $19,482,619Net Income 2022: -$2,751,7962022Revenue 2023: $25,976,715Expenses 2023: $19,753,679Net Income 2023: $6,223,0362023Revenue 2024: $24,172,302Expenses 2024: $22,197,736Net Income 2024: $1,974,5662024Revenue 2025: $25,950,401Expenses 2025: $26,386,431Net Income 2025: -$436,0302025

Highlighted filing

2025

Revenue$25,950,401
Expenses$26,386,431
Net Income-$436,030

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$80.9$62.2$18.7$26.0$26.4$0.44
2024Detailed filing. Detailed filing data is available for this year.$51.9$32.8$19.1$24.2$22.2$1.97
2023Detailed filing. Detailed filing data is available for this year.$50.1$33.0$17.2$26.0$19.8$6.22
2022Detailed filing. Detailed filing data is available for this year.$46.2$35.3$10.9$16.7$19.5$2.75
2021Detailed filing. Detailed filing data is available for this year.$45.2$31.5$13.7$18.0$16.3$1.66
2020Detailed filing. Detailed filing data is available for this year.$46.5$34.5$12.0$16.7$15.8$0.93
2019Detailed filing. Detailed filing data is available for this year.$45.9$33.8$12.1$16.8$14.4$2.36
2018Detailed filing. Detailed filing data is available for this year.$43.9$34.4$9.52$15.1$13.7$1.37
2017Detailed filing. Detailed filing data is available for this year.$43.3$35.1$8.17$15.1$13.2$1.92
2016Detailed filing. Detailed filing data is available for this year.$40.8$34.5$6.24$14.9$14.4$0.48
2015Detailed filing. Detailed filing data is available for this year.$29.7$23.9$5.76$12.1$10.6$1.47
2014Detailed filing. Detailed filing data is available for this year.$29.0$24.8$4.29$9.43$8.69$0.74
2013Summary only. Only limited summary data is available for this year.$29.0$25.4$3.56$6.75$6.20$0.56
2012Summary only. Only limited summary data is available for this year.$27.6$24.6$3.00$6.36$5.56$0.80
2011Summary only. Only limited summary data is available for this year.$2.56$0.35$2.20$4.91$3.95$0.97
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Jan 19, 2026
Return Version
2024v5.0
Gross Receipts
$25,950,401
Mission and Program Overview

Mission

Santa Rosa Academy is a nonprofit organization in the state of California. The organization was formed as a charter school pursuant to California Eduction Code Section 47600. The organization's primary exempt purpose is to provide quality education to students in kindergarten through twelth grade.

Our mission~to create a school that is highly regarded for academic excellence within a flexible and innovative learning environment that will effectively develop, sustain and enhance the skills necessary to be life long learners and productive citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$30,221,322$29,426,024▼ $795,298
Investments in Publicly Traded Securities$6,472,489$7,010,855▲ $538,366
Savings and Temporary Cash Investments$10,778,953$6,034,460▼ $4,744,493
Land, Buildings, and Equipment, Net$3,642,115$5,446,149▲ $1,804,034
Accounts Receivable$392,704$2,860,372▲ $2,467,668
Prepaid Expenses and Deferred Charges$402,639$208,766▼ $193,873
Total Assets$51,910,222$80,869,913▲ $28,959,691
Other Assets Total-$29,883,287-
Liabilities
Other Liabilities$770,893$30,648,728▲ $29,877,835
Tax Exempt Bond Liabilities$29,823,745$29,602,414▼ $221,331
Deferred Revenue$1,098,041$1,267,748▲ $169,707
Accounts Payable and Accrued Expenses$1,086,314$655,824▼ $430,490
Total Liabilities$32,778,993$62,174,714▲ $29,395,721
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,131,229$18,695,199▼ $436,030
Total Net Assets Fund Balance$19,131,229$18,695,199▼ $436,030
Total Liabilities and Net Assets / Fund Balance$51,910,222$80,869,913▲ $28,959,691

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,446,149$990,058$6,436,207
Other Assets Org$29,883,287--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Robert HenningsSuperintendeFT$244,701$18,625$263,326
Dr Robert HenningsSuperintendent-$244,701$18,625$263,326
Sondra EvansDirector ofFT$163,013$11,750$174,763
Sondra EvansDirector of Bs & Hr-$163,013$11,750$174,763
Anastasia BradshawDirector ofFT$152,333$11,750$164,083
Anastasia BradshawDirector of Ed & Ss-$152,333$11,750$164,083
Michael GrayAssistant DiFT$145,140$11,750$156,890
Michael GrayAssistant Director Prog D-$145,140$11,750$156,890

Board Members and Trustees

NameTitle
Kellie WeltyPresident/pa
Scott MasonMember-at-la
David FoustMember/commu
Nicole FarnumMember/commu
Eric RussellMember/paren
Terry ColeSecretary/co
Brooke SnellTreasurer/pa

Highest Paid Contractors

ContractorServicesLocationCompensation
Hansberger & KleinCleaning211 E POTTER ST, 27475 YNEZ RD SUITE 357, Lake Elsinore, CA 92530$478,734
Formation TechnologyLaw Corp27475 YNEZ RD SUITE 357, Temecula, CA 92584$251,937
-TechnologyPO BOX 890071, Temecula, CA 92589$170,680
Revenue and Support

Revenue Composition

Contributions and Grants
$23,281,421
Program Service Revenue
$1,559,842
Investment Income
$337,306
Other Revenue
$771,832
All Other Contributions
$1,201,213
Change in Net Assets
$-436,030
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$17,103,195
Other Expenses$9,283,236
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$9,960,638$1,184,505-$11,145,143
Other Employee Benefits$3,922,579$784,516-$4,707,095
Fees for Services Other$3,569,985$295,832-$3,865,817
Interest-$1,530,881-$1,530,881
Payroll Taxes$537,688$107,538-$645,226
Current Officers, Directors, Trustees, and Key Employees-$605,731-$605,731
Occupancy$365,601$91,400-$457,001
Depreciation Depletion$213,950$53,488-$267,438
Insurance$214,873$45,553-$260,426
Other Expenses$195,437$42,358-$237,795
All Other Expenses$166,143$44,621-$210,764
Travel$123,129$52,768-$175,897
Advertising$10,902$3,100-$14,002
Total Functional Expenses$21,066,440$5,319,991$0$26,386,431
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
Finance Lease Liability$29,883,287
Interest Payable$765,441

Bond Issues

BondIssuerIssuedIssue PricePurpose
BCalifornia Municipal Fin Authority2022-05-03$21,405,000REFUNDING ISSUE
ACA Municipal Finance Authority2015-09-01$10,420,000Charter school facilities

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$24,367,795--$696,193
A$10,420,000$343,354$1,482,930$321,493

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 8B

The organization does not have a committee with authorty to act on its behalf.

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

Our tax preparer will prepare the tax return and send a draft copy to the chief business officer who will forward the draft copy to the board of directors for their approval before filing. Once approved, we will notify out tax preparer who will either e-file or or finalize the paper return for our mailing.

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

Members of the governing board shall file the original statement of financial interest form with santa rosa academy administriative office, which shall made and retain a copy and forward the original to the clerk of the board of supervisors of riverside county. All other individuals in designated positions required to submit a statement of financial interest within thirty (30) days after the effective date of this code. A person after the effective date of this code is appointed, promoted, or transferred to a designated position shall file a statement no less than ten (10) days before the person assumes the position unless an earlier assumption of the position is required by emergency circumstance certified by the stata rosa academy. This also applies to activities of santa rosa academy, llc.

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

The board shall designate a representative to negotiate with the executive director/principal on its behalf and shall consult legal coulnsel to draft the contract document. The board shall deliberate in closed session about the terms of the contract. Terms of the contract shall remain confidential until the ratification process commences. The board shall ratify the executive director/principal's contract in an open meeting, which shall be reflected in the board's minutes. Copies of the contract shall be available to the public upon request. There are no wage contracts associated with stanta rosa academy, llc.

Form 990, Page 6, Part VI, Line 19

The board intends the school to provide and person reasonable access to the public records of the school upon request during normal business hours and within the requirements of the state and federal laws. Such records shall be examined in the presence of the staff members regularly responsible for their maintenance. The school may charge for copies of public records or other materials requested by individuals or groups. The charges shall be based on actual cost of duplication as determined by the director or designee and as specified in procedures. Public access shall not be given to recoreds listed as exempt from public disclosure in the california public records act and other statutes.

Filing and Contact Details

Filer

Filer Name
Santa Rosa Academy Inc
EIN
20-3165841
Phone
9516722400
Address
27587 LA PIEDRA RD, MENIFEE, CA 92584

Signing Officer

Name
Dr Robert Hennings
Title
Superintendent
Phone
9516722400
Signed
2026-01-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Robert Hennings
Formed
2005
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
288
Volunteers
240

Preparer

Firm
Silva & Silva Cpas
Address
3040 SATURN ST STE 107, BREA, CA 92821
Preparer
Lisa Silva CPA
Phone
7143224672
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To create a school that is highly regarded for academic excellence within a flexible and innovative learning environment that will effectively develop, sustain and enhance the skills necessary to be life long learners and productive citizens.

Form 990, Part IX, Line 11G

Professional consulting 3,552,885 281,958 0 dues and memberships 17,100 13,874 0 total 3,569,985 295,832 0

Form 990, Part XI, Line 9

Rounding 0 bond payable 0

Financial Statement Notes

Schedule D, Page 3, Part X

Management believes that the organization has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.

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IRS990/MissionDesc0TO CREATE A SCHOOL THAT IS HIGHLY REGARDED FOR ACADEMIC EXCELLENCE WITHIN A FLEXIBLE AND INNOVATIVE LEARNING ENVIRONMENT THAT WILL EFFECTIVELY DEVELOP, SUSTAIN AND ENHANCE THE SKILLS NECESSARY TO BE LIFE LONG LEARNERS AND PRODUCTIVE CITIZENS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS A PUBLIC CHARTER SCHOOL AND THEREFORE IS NOT SUBJECT TO THE FORMAL COMPLIANCE WITH REVENUE PROCEDURE 75-50 AS LONG AS THE CHARTER AGREEMENT WITH THE STATE IS IN EFFECT. THE SCHOOL DOES INCLUDE INFORMATION REGARDING ITS NON-DISCRIMINATION PRACTICES IN ITS ENROLLMENT PACKAGES WHICH IS AVAILABLE ON THE SCHOOL WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1AS A PUBLIC CHARTER SCHOOL, THE SCHOOL DOES NOT PROVIDE SCHOLARSHIPS OR FINANCIAL AID.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2CALIFORNIA STATE APPORTIONMENT INCOME BASED ON STUDENT ATTENDANCE.
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DR ROBERT HENNINGS
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR OF BS & HR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2DIRECTOR OF ED & SS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3ASSISTANT DIR PROG D
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