Civic Intelligence

Rosefield Charter Elementary School Inc.

990 • Fiscal year 2015 • EIN 20-3249197

Jul 01, 2014 to Jun 30, 2015 • Filed on Dec 31, 2015

Organization ProfileWWW.IMAGINESCHOOLS.COM
12050 North Bullard AvenueSurprise, AZ 85379

(623) 344-4300

Siviq Scores

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

Liabilities / Assets

95th percentile

1.18x

Higher debt load relative to assets than 95% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

61st percentile

0.31x

Higher debt load relative to revenue than 61% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

47th percentile

1.9%

Higher net margin than 47% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

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.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

95th percentile

67%

Faster asset growth than 95% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

38th percentile

-0.1%

Faster revenue growth than 38% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$1,384,931

Up $555,501 (+67%) from 2014

Net Assets

Up

-$255,672

Up $100,022 (+28%) from 2014

Liabilities

Up

$1,640,603

Up $455,479 (+38%) from 2014

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin47th percentile

Revenue

Down

$5,340,930

Down $3,577 (-0.1%) from 2014

Expenses

Down

$5,240,908

Down $52,237 (-1.0%) from 2014

Net Income

Up

$100,022

Up $48,660 (+95%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth95th 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

2015

Assets$1,384,931
Liabilities$1,640,603
Net Assets-$255,672
Open 2015 Filing

Operations Trend

Revenue Growth38th percentile

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

2015

Revenue$5,340,930
Expenses$5,240,908
Net Income$100,022
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Dec 31, 2015
Return Version
2014v6.0
Gross Receipts
$5,340,930
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$591,341$954,969▲ $363,628
Land, Buildings, and Equipment, Net$80,442$158,918▲ $78,476
Prepaid Expenses and Deferred Charges$30,245$30,765▲ $520
Accounts Receivable$4,150$22,586▲ $18,436
Total Assets$829,430$1,384,931▲ $555,501
Other Assets Total$123,252$217,693▲ $94,441
Liabilities
Other Liabilities$903,959$1,311,010▲ $407,051
Accounts Payable and Accrued Expenses$273,865$301,705▲ $27,840
Deferred Revenue$7,300$27,888▲ $20,588
Total Liabilities$1,185,124$1,640,603▲ $455,479
Net Assets / Fund Balance
Temporarily Rstr Net Assets$226,577$315,011▲ $88,434
Unrestricted Net Assets$-582,271$-570,683▲ $11,588
Total Net Assets Fund Balance$-355,694$-255,672▲ $100,022
Total Liabilities and Net Assets / Fund Balance$829,430$1,384,931▲ $555,501

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$48,025$78,995$127,020
Other Land Buildings$93,620$28,829$122,449
Leasehold Improvements$17,273$10,915$28,188
Other Assets Org$1,646--
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Dr Leonora KetyerChair
Michael TuckerBoard Member
Grizelda ValenzuelaSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Imagine Schools INCManagement Fee1005 N GLEBE ROAD SUITE 610, Arlington, VA 22201$509,189
Revenue and Support

Revenue Composition

Contributions and Grants
$4,871,491
Program Service Revenue
$451,039
Investment Income
$0
Other Revenue
$18,400
All Other Contributions
$2,648
Change in Net Assets
$100,022

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,340,930
Total Revenue per Audited Statements
$5,340,930
Total Revenue per Form 990
$5,340,930
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,240,908
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-$1,037,543-$1,037,543
Fees for Services Management-$594,054-$594,054
Fees for Services Other$119,720$8,790-$128,510
Office Expenses$32,501$75,170-$107,671
All Other Expenses$25,721$50,264-$75,985
Information Technology$46,099$7,183-$53,282
Insurance$7,601$41,451-$49,052
Depreciation Depletion-$36,161-$36,161
Other Expenses$24,853$468,464-$24,853
Interest-$21,044-$21,044
Advertising-$17,448-$17,448
Fees for Services Accounting-$10,400-$10,400
Travel-$6,330-$6,330
Fees for Services Legal-$3,171-$3,171
Total Functional Expenses$2,863,435$2,377,473$0$5,240,908

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,240,908
Total Expenses per Audited Statements$5,240,908
Total Expenses per Form 990$5,240,908
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
Due to Operating Company$786,029
Due to Schoolhouse Finance$329,948
NOTE PAYABLE DUE > 1 YEAR$185,088
NOTE PAYABLE DUE < 1 YEAR$9,945
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

Filer Name
Rosefield Charter Elem School Inc
EIN
20-3249197
Phone
6233444300
Address
12050 NORTH BULLARD AVENUE, SURPRISE, AZ 85379

Signing Officer

Name
Dr Leonora Ketyer
Title
Chair
Phone
6233444300
Signed
2015-12-31
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

Firm
Berman Hopkins Wright Laham Cpas & Assoc
Address
8035 SPYGLASS HILL RD, MELBOURNE, FL 32940
Preparer
Ross Whitley
Phone
3217572020
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

“AT ROSEFIELD”

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.”

Raw XML AppendixShowing 400 of 417 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/BookValueAmt0130310
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt185737
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt21646
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM OTHER AGENCIES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM OTHER SCHOOLS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DEPOSITS RECEIVABLE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO OPERATING COMPANY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO SCHOOLHOUSE FINANCE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2NOTE PAYABLE DUE > 1 YEAR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NOTE PAYABLE DUE < 1 YEAR
IRS990ScheduleD/RevenueSubtotalAmt05340930
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/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0217693
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IRS990ScheduleD/TotalLiabilityAmt01311010
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IRS990/ScheduleORequiredInd0true
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/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
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IRS990/USAddress/AddressLine1Txt012050 N BULLARD AVE
IRS990/USAddress/CityNm0SURPRISE
IRS990/USAddress/StateAbbreviationCd0AZ
IRS990/USAddress/ZIPCd085379
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IRS990/WebsiteAddressTxt0WWW.IMAGINESCHOOLS.COM
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ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DR LEONORA KETYER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum06233444300
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-12-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ROSEFIELD CHARTER ELEM SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0ROSE
ReturnHeader/Filer/EIN0203249197
ReturnHeader/Filer/PhoneNum06233444300
ReturnHeader/Filer/USAddress/AddressLine1Txt012050 NORTH BULLARD AVENUE

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,384,931
Liabilities
$1,640,603
Net assets
-$255,672
Revenue
$5,340,930
Expenses
$5,240,908
Net income
$100,022
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