Civic Intelligence

Rosefield Charter Elementary School Inc.

990 • Fiscal year 2014 • EIN 20-3249197

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

Organization ProfileWWW.IMAGINESCHOOLS.COM
12050 North Bullard Avenue85379

(623) 344-4300

Siviq Scores

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

Liabilities / Assets

98th percentile

1.43x

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

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

54th percentile

0.22x

Higher debt load relative to revenue than 54% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

43rd percentile

1.0%

Higher net margin than 43% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

64th percentile

7.2%

Faster asset growth than 64% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$829,430

Up $55,618 (+7.2%) from 2013

Net Assets

Up

-$355,694

Up $89,011 (+20%) from 2013

Liabilities

Down

$1,185,124

Down $33,393 (-2.7%) from 2013

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin43rd percentile

Revenue

$5,344,507

No earlier filing loaded for comparison.

Expenses

Down

$5,293,145

Down $19,696 (-0.4%) from 2013

Net Income

$51,362

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $522,925Liabilities 2010: $457,779Net Assets 2010: $65,1462010Assets 2011: $886,206Liabilities 2011: $633,892Net Assets 2011: $252,3142011Assets 2012: $1,039,828Liabilities 2012: $697,769Net Assets 2012: $342,0592012Assets 2013: $773,812Liabilities 2013: $1,218,517Net Assets 2013: -$444,7052013Assets 2014: $829,430Liabilities 2014: $1,185,124Net Assets 2014: -$355,6942014Assets 2015: $1,384,931Liabilities 2015: $1,640,603Net Assets 2015: -$255,6722015Assets 2016: $1,355,012Liabilities 2016: $1,563,915Net Assets 2016: -$208,9032016Assets 2017: $1,126,678Liabilities 2017: $1,232,541Net Assets 2017: -$105,8632017Assets 2018: $1,461,893Liabilities 2018: $1,512,847Net Assets 2018: -$50,9542018Assets 2019: $1,103,106Liabilities 2019: $1,080,948Net Assets 2019: $22,1582019Assets 2020: $1,224,546Liabilities 2020: $1,186,996Net Assets 2020: $37,5502020Assets 2021: $1,999,263Liabilities 2021: $1,866,316Net Assets 2021: $132,9472021Assets 2022: $1,977,354Liabilities 2022: $1,589,553Net Assets 2022: $387,8012022Assets 2023: $14,833,088Liabilities 2023: $14,364,105Net Assets 2023: $468,9832023Assets 2024: $14,002,259Liabilities 2024: $13,569,271Net Assets 2024: $432,9882024Assets 2025: $12,786,203Liabilities 2025: $13,238,087Net Assets 2025: -$451,8842025

Highlighted filing

2014

Assets$829,430
Liabilities$1,185,124
Net Assets-$355,694
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $5,020,1672010Expenses 2011: $5,079,8532011Expenses 2012: $5,252,4442012Expenses 2013: $5,312,8412013Revenue 2014: $5,344,507Expenses 2014: $5,293,145Net Income 2014: $51,3622014Revenue 2015: $5,340,930Expenses 2015: $5,240,908Net Income 2015: $100,0222015Revenue 2016: $5,638,070Expenses 2016: $5,591,301Net Income 2016: $46,7692016Revenue 2017: $5,543,813Expenses 2017: $5,440,773Net Income 2017: $103,0402017Revenue 2018: $5,617,665Expenses 2018: $5,802,610Net Income 2018: -$184,9452018Revenue 2019: $5,875,223Expenses 2019: $5,802,111Net Income 2019: $73,1122019Revenue 2020: $5,984,610Expenses 2020: $5,969,218Net Income 2020: $15,3922020Revenue 2021: $6,174,984Expenses 2021: $6,079,587Net Income 2021: $95,3972021Revenue 2022: $6,394,718Expenses 2022: $6,139,864Net Income 2022: $254,8542022Revenue 2023: $6,661,223Expenses 2023: $6,580,041Net Income 2023: $81,1822023Revenue 2024: $6,755,564Expenses 2024: $6,791,559Net Income 2024: -$35,9952024Revenue 2025: $5,863,196Expenses 2025: $6,748,068Net Income 2025: -$884,8722025

Highlighted filing

2014

Revenue$5,344,507
Expenses$5,293,145
Net Income$51,362
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 23, 2015
Return Version
2013v4.0
Gross Receipts
$5,345,296
Mission and Program Overview

Mission

To operate a charter school

To provide quality education to students in grades kindergarten through sixth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$607,100$591,341▼ $15,759
Land, Buildings, and Equipment, Net$83,037$80,442▼ $2,595
Other Notes and Loans Receivable, Net$36,919--
Prepaid Expenses and Deferred Charges$19,928$30,245▲ $10,317
Accounts Receivable$25,182$4,150▼ $21,032
Total Assets$773,812$829,430▲ $55,618
Other Assets Total$1,646$123,252▲ $121,606
Liabilities
Other Liabilities$839,808$903,959▲ $64,151
Accounts Payable and Accrued Expenses$378,709$273,865▼ $104,844
Deferred Revenue-$7,300-
Total Liabilities$1,218,517$1,185,124▼ $33,393
Net Assets / Fund Balance
Temporarily Rstr Net Assets$130,016$226,577▲ $96,561
Unrestricted Net Assets$-574,721$-582,271▼ $7,550
Total Net Assets Fund Balance$-444,705$-355,694▲ $89,011
Total Liabilities and Net Assets / Fund Balance$773,812$829,430▲ $55,618

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$59,054$67,966$127,020
Leasehold Improvements$21,388$6,800$28,188
Other Land Buildings-$7,812$7,812
Other Assets Org$1,646--
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Dr Leonora KetyerBoard Chair
Michael TuckerBoard Member
Grizelda ValenzuelaSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Imagine Schools INCManagement-$492,750
Revenue and Support

Revenue Composition

Contributions and Grants
$4,725,394
Program Service Revenue
$447,620
Investment Income
$0
Other Revenue
$171,493
All Other Contributions
$1,535
Change in Net Assets
$51,362

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,212,420
Revenue Not Reported on Financial Statements
$132,087
Other Revenue Adjustments
$132,087
Total Revenue per Audited Statements
$5,212,420
Total Revenue per Form 990
$5,344,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,293,145
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy-$1,039,783-$1,039,783
Fees for Services Management-$574,875-$574,875
Office Expenses$38,689$87,321-$126,010
Fees for Services Other$86,104$21,557-$107,661
All Other Expenses$29,557$52,847-$82,404
Information Technology$28,277$20,978-$49,255
Insurance$5,701$35,814-$41,515
Other Expenses$25,130$-6,365-$25,130
Interest-$21,935-$21,935
Depreciation Depletion-$18,989-$18,989
Fees for Services Accounting-$18,866-$18,866
Advertising-$9,947-$9,947
Travel-$5,787-$5,787
Fees for Services Legal-$3,498-$3,498
Total Functional Expenses$2,918,505$2,374,640$0$5,293,145

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,293,145
Total Expenses per Form 990$5,293,145
Total Expenses per Audited Statements$5,161,058
Expenses Not Reported on Form 990$-132,087
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$789
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
Due to Operating Company$513,633
NOTE PAYABLE DUE> 1 YEAR$195,033
Due to Leasing Company$186,337
NOTE PAYABLE DUE< 1 YEAR$8,956
Due to Other Schools-
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Imagine schools, inc. Provided comprehensive management services to the school including all staff.”

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

“The 990 is emailed to all board members before filing.”

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

“Conflicts are disclosed and discussed at board meetings.”

Form 990, Page 6, Part VI, Line 19

“All governing documents are available upon request at the school.”

Filing and Contact Details

Filer

EIN
20-3249197
Phone
6233444300

Signing Officer

Name
Dr Leonora Ketyer
Title
Board Chair
Phone
6233444300
Signed
2015-01-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Leonora Ketyer
Formed
2005
Legal Domicile
Az
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
225

Preparer

Preparer
Ross Whitley
Phone
3217572020
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

“AT ROSEFIELD”

Form 990, Part XI, Line 9

“Direct f/r expenses 789 negative expense reclass -132,876 direct f/r expenses -789 negative expense reclass 132,876”

Financial Statement Notes

Schedule D, Page 3, Part X

“The school qualifies as a tax-exempt organization under section 501(c)(3)of the internal revenue code. Accordingly, there is no provision for income taxes in the accompanying financial statements. In addition, the school qualifies for the charitable contribution deduction under section 170 of the code and has been classified as an organization that is not a private foundation under section 509(a)(2). Income determined to be unrelated business taxable income would be taxable. The school believes that it has appropriate support for any tax positions taken and as such, does not have any uncertain tax positions that are material to the financial statements. The school's return of organization exempt from income tax for the years ending june 30, 2011 and after are subject to examination by the major tax jurisdictions.”

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

“Direct f/r expenses -789 negative expense reclass 132,876”

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

“Direct f/r expenses 789 negative expense reclass -132,876”

Raw XML AppendixShowing 400 of 431 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/OtherAssetsOrgGrp/BookValueAmt090625
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt130981
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21646
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM OTHER AGENCIES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM OTHER SCHOOLS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DEPOSITS RECEIVABLE
IRS990ScheduleD/OtherExpensesIncludedAmt0-132087
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt07812
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt07812
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2186337
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt38956
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO OPERATING COMPANY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NOTE PAYABLE DUE> 1 YEAR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO LEASING COMPANY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NOTE PAYABLE DUE< 1 YEAR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4DUE TO OTHER SCHOOLS
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0132087
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3)OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THERE IS NO PROVISION FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. IN ADDITION, THE SCHOOL QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170 OF THE CODE AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). INCOME DETERMINED TO BE UNRELATED BUSINESS TAXABLE INCOME WOULD BE TAXABLE. THE SCHOOL BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE SCHOOL'S RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX FOR THE YEARS ENDING JUNE 30, 2011 AND AFTER ARE SUBJECT TO EXAMINATION BY THE MAJOR TAX JURISDICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIRECT F/R EXPENSES -789 NEGATIVE EXPENSE RECLASS 132,876
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2DIRECT F/R EXPENSES 789 NEGATIVE EXPENSE RECLASS -132,876
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt080442
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0123252
IRS990ScheduleD/TotalExpensesPerForm990Amt05293145
IRS990ScheduleD/TotalLiabilityAmt0903959
IRS990ScheduleD/TotalRevenuePerForm990Amt05344507
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05212420
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AT ROSEFIELD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IMAGINE SCHOOLS, INC. PROVIDED COMPREHENSIVE MANAGEMENT SERVICES TO THE SCHOOL INCLUDING ALL STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS EMAILED TO ALL BOARD MEMBERS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICTS ARE DISCLOSED AND DISCUSSED AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DIRECT F/R EXPENSES 789 NEGATIVE EXPENSE RECLASS -132,876 DIRECT F/R EXPENSES -789 NEGATIVE EXPENSE RECLASS 132,876
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$829,430
Liabilities
$1,185,124
Net assets
-$355,694
Revenue
$5,344,507
Expenses
$5,293,145
Net income
$51,362
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$12.8$13.2$0.45$5.86$6.75$0.88
2024Detailed filing. Detailed filing data is available for this year.$14.0$13.6$0.43$6.76$6.79$0.04
2023Detailed filing. Detailed filing data is available for this year.$14.8$14.4$0.47$6.66$6.58$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.98$1.59$0.39$6.39$6.14$0.25
2021Detailed filing. Detailed filing data is available for this year.$2.00$1.87$0.13$6.17$6.08$0.10
2020Detailed filing. Detailed filing data is available for this year.$1.22$1.19$0.04$5.98$5.97$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.10$1.08$0.02$5.88$5.80$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.46$1.51$0.05$5.62$5.80$0.18
2017Detailed filing. Detailed filing data is available for this year.$1.13$1.23$0.11$5.54$5.44$0.10
2016Detailed filing. Detailed filing data is available for this year.$1.36$1.56$0.21$5.64$5.59$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.38$1.64$0.26$5.34$5.24$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.83$1.19$0.36$5.34$5.29$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$1.22$0.44$5.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.70$0.34$5.25
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.63$0.25$5.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.46$0.07$5.02