Civic Intelligence

Chesapeake Public Schools Educational Foundation

990 • Fiscal year 2016 • EIN 20-3655412

Jul 01, 2015 to Jun 30, 2016 • Filed on Aug 24, 2016

Organization ProfileCPSEF.ORG
312 Cedar RoadChesapeake, VA 23322

(757) 547-0153

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

9th percentile

-45%

Higher net margin than 9% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

18th percentile

-25%

Faster asset growth than 18% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

90th percentile

77%

Faster revenue growth than 90% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$389,174

Down $129,448 (-25%) from 2015

Net Assets

Down

$389,174

Down $129,448 (-25%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin9th percentile

Revenue

Up

$286,267

Up $124,085 (+77%) from 2015

Expenses

Up

$414,948

Up $343,564 (+481%) from 2015

Net Income

Down

-$128,681

Down $219,479 (-242%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$1.0M$500K$0Assets 2012: $304,486Liabilities 2012: $0Net Assets 2012: $304,4862012Assets 2013: $453,506Liabilities 2013: $0Net Assets 2013: $453,5062013Assets 2014: $428,632Liabilities 2014: $0Net Assets 2014: $428,6322014Assets 2015: $518,622Liabilities 2015: $0Net Assets 2015: $518,6222015Assets 2016: $389,174Liabilities 2016: $0Net Assets 2016: $389,1742016Assets 2017: $463,422Liabilities 2017: $0Net Assets 2017: $463,4222017Assets 2018: $496,247Liabilities 2018: $0Net Assets 2018: $496,2472018Assets 2019: $552,231Liabilities 2019: $0Net Assets 2019: $552,2312019Assets 2020: $608,322Liabilities 2020: $0Net Assets 2020: $608,3222020Assets 2021: $632,689Liabilities 2021: $0Net Assets 2021: $632,6892021Assets 2022: $669,533Liabilities 2022: $0Net Assets 2022: $669,5332022Assets 2023: $695,892Liabilities 2023: $0Net Assets 2023: $695,8922023Assets 2024: $810,262Liabilities 2024: $0Net Assets 2024: $810,2622024

Highlighted filing

2016

Assets$389,174
Liabilities$0
Net Assets$389,174
Open 2016 Filing

Operations Trend

Revenue Growth90th percentile

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

$600K$400K$200K$0-$200KRevenue 2012: $116,098Expenses 2012: $36,963Net Income 2012: $79,1352012Expenses 2013: $51,6452013Revenue 2014: $126,376Expenses 2014: $151,250Net Income 2014: -$24,8742014Revenue 2015: $162,182Expenses 2015: $71,384Net Income 2015: $90,7982015Revenue 2016: $286,267Expenses 2016: $414,948Net Income 2016: -$128,6812016Revenue 2017: $141,698Expenses 2017: $67,022Net Income 2017: $74,6762017Revenue 2018: $169,335Expenses 2018: $135,817Net Income 2018: $33,5182018Revenue 2019: $158,659Expenses 2019: $102,675Net Income 2019: $55,9842019Revenue 2020: $183,633Expenses 2020: $127,542Net Income 2020: $56,0912020Revenue 2021: $211,341Expenses 2021: $250,457Net Income 2021: -$39,1162021Revenue 2022: $237,858Expenses 2022: $135,197Net Income 2022: $102,6612022Revenue 2023: $228,511Expenses 2023: $212,718Net Income 2023: $15,7932023Revenue 2024: $300,116Expenses 2024: $211,485Net Income 2024: $88,6312024

Highlighted filing

2016

Revenue$286,267
Expenses$414,948
Net Income-$128,681
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Aug 24, 2016
Return Version
2015v2.1
Gross Receipts
$304,905
Mission and Program Overview

Mission

The mission of the chesapeake public schools educational foundation is to engage in activities that will establish scholarships, fund instructional initiatives, provide instructional materials, and improve chesapeake's educational facilities. This is accomplished through fund-raising events, donations from businesses, employees, private citizens, trusts, and endowments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$382,693$252,811▼ $129,882
Savings and Temporary Cash Investments$109,342$109,438▲ $96
Investments in Publicly Traded Securities$26,587$26,925▲ $338
Total Assets$518,622$389,174▼ $129,448
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$373,797$323,089▼ $50,708
Temporarily Rstr Net Assets$144,825$66,085▼ $78,740
Total Net Assets Fund Balance$518,622$389,174▼ $129,448
Total Liabilities and Net Assets / Fund Balance$518,622$389,174▼ $129,448
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Rg Buddy BagleyChairman
C Jeff BunnMember
Carolyn BernardMember
Catherine MagillMember
Charles HackworthMember
Doug SmithMember
James T RobertsMember
Jd Miles IvMember
Jesse WilliamsMember
John B Maddux JrMember
Larry BattleMember
Louis TayonMember
R Stephen Best SrMember
Rhonda BridgemanMember
Susan ArcherMember
Timothy H KerrMember
Dr Alan VaughnSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$231,308
Program Service Revenue
$3,328
Investment Income
$1,512
Other Revenue
$50,119
All Other Contributions
$226,482
Change in Net Assets
$-128,681

Audited Revenue Reconciliation

Revenue per Audited Statements
$286,267
Total Revenue per Audited Statements
$286,267
Total Revenue per Form 990
$286,267
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$383,859
Grants and Similar Amounts Paid$31,089
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$379,934--$379,934
Grants to Domestic Orgs$31,089--$31,089
Fees for Services Accounting-$3,000-$3,000
Insurance-$614-$614
Office Expenses-$311-$311
Total Functional Expenses$411,023$3,925$0$414,948

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$414,948
Total Expenses per Audited Statements$414,948
Total Expenses per Form 990$414,948
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$68,757
Fundraising Direct Expenses$18,638
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
State of the Sc$32,362$32,362$9,719$22,643
Golf Tournament$27,784$27,784$8,159$19,625
Total Events$67,582$67,582$18,638$48,944
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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
No

Governance Explanations

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

“Form 990 reviewed by board chairman and treasuere prior to filing.”

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

“Conflict of interest statements signed annually by each board member.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Chesapeake Public Schools Education
EIN
20-3655412
Phone
7575470153
Address
312 CEDAR ROAD, CHESAPEAKE, VA 23322

Signing Officer

Name
Dr Alan Vaughn
Title
Secretary
Phone
7575470153
Signed
2016-08-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Alan Vaughn
Formed
2005
Legal Domicile
Va
Voting Board Members
17
Independent Board Members
16
Employees
0
Volunteers
40

Preparer

Firm
Wc Goldberg & Company Pc
Address
484 VIKING DR STE 160, VIRGINIA BEACH, VA 23452-7393
Preparer
Wendy C Goldberg CPA
Phone
7574203986
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of the chesapeake public schools educational foundation is to engage in activities that will establish scholarships, fund instructional initiatives, provide instructional materials, and improve chesapeake's educational facilities. This is accomplished through fund-raising events, donations from businesses, employees, private citizens, trusts, and endowments.”

Form 990, Page 1, Part I, Line 6

“Volunteers serve to assist the annual golf tournament and outreach in the community serving on the organization's blue ribbon committee.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation follows the statutory requirements for its income tax and accounting and generally avoids risks associated with tax positions that may be challenged upon examination. Management believes any liability resulting from taxing authorities imposing additional income taxes from activities deemed to be unrelated to the foundation's tax-exempt status would not have a material effect on the financial statements. Generally, the organizations tax returns remain open for federal income tax examination for three years from the date of filing.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION FOLLOWS THE STATUTORY REQUIREMENTS FOR ITS INCOME TAX AND ACCOUNTING AND GENERALLY AVOIDS RISKS ASSOCIATED WITH TAX POSITIONS THAT MAY BE CHALLENGED UPON EXAMINATION. MANAGEMENT BELIEVES ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING ADDITIONAL INCOME TAXES FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE FOUNDATION'S TAX-EXEMPT STATUS WOULD NOT HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. GENERALLY, THE ORGANIZATIONS TAX RETURNS REMAIN OPEN FOR FEDERAL INCOME TAX EXAMINATION FOR THREE YEARS FROM THE DATE OF FILING.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE CHESAPEAKE PUBLIC SCHOOLS EDUCATIONAL FOUNDATION IS TO ENGAGE IN ACTIVITIES THAT WILL ESTABLISH SCHOLARSHIPS, FUND INSTRUCTIONAL INITIATIVES, PROVIDE INSTRUCTIONAL MATERIALS, AND IMPROVE CHESAPEAKE'S EDUCATIONAL FACILITIES. THIS IS ACCOMPLISHED THROUGH FUND-RAISING EVENTS, DONATIONS FROM BUSINESSES, EMPLOYEES, PRIVATE CITIZENS, TRUSTS, AND ENDOWMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VOLUNTEERS SERVE TO ASSIST THE ANNUAL GOLF TOURNAMENT AND OUTREACH IN THE COMMUNITY SERVING ON THE ORGANIZATION'S BLUE RIBBON COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 REVIEWED BY BOARD CHAIRMAN AND TREASUERE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST STATEMENTS SIGNED ANNUALLY BY EACH BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/BusinessOfficerGrp/PersonNm0DR ALAN VAUGHN
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$389,174
Liabilities
$0
Net assets
$389,174
Revenue
$286,267
Expenses
$414,948
Net income
-$128,681
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.10$0.00$8.10$3.00$2.11$0.89
2023Detailed filing. Detailed filing data is available for this year.$6.96$0.00$6.96$2.29$2.13$0.16
2022Detailed filing. Detailed filing data is available for this year.$6.70$0.00$6.70$2.38$1.35$1.03
2021Detailed filing. Detailed filing data is available for this year.$6.33$0.00$6.33$2.11$2.50$0.39
2020Detailed filing. Detailed filing data is available for this year.$6.08$0.00$6.08$1.84$1.28$0.56
2019Detailed filing. Detailed filing data is available for this year.$5.52$0.00$5.52$1.59$1.03$0.56
2018Detailed filing. Detailed filing data is available for this year.$4.96$0.00$4.96$1.69$1.36$0.34
2017Detailed filing. Detailed filing data is available for this year.$4.63$0.00$4.63$1.42$0.67$0.75
2016Detailed filing. Detailed filing data is available for this year.$3.89$0.00$3.89$2.86$4.15$1.29
2015Detailed filing. Detailed filing data is available for this year.$5.19$0.00$5.19$1.62$0.71$0.91
2014Detailed filing. Detailed filing data is available for this year.$4.29$0.00$4.29$1.26$1.51$0.25
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.54$0.00$4.54$0.52
2012Summary only. Only limited summary data is available for this year.$3.04$0.00$3.04$1.16$0.37$0.79