Civic Intelligence

River Springs Charter School Inc.

990 • Fiscal year 2015 • EIN 20-5069467

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 08, 2016

43466 Business Park DriveTemecula, CA 92590

(951) 252-8800

Siviq Scores

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

Liabilities / Assets

85th percentile

0.77x

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

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

60th percentile

0.47x

Higher debt load relative to revenue than 60% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

43rd percentile

2.0%

Higher net margin than 43% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

22nd percentile

$146,421

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

75th percentile

9.6%

Faster asset growth than 75% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

70th percentile

12%

Faster revenue growth than 70% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Assets

Up

$27,535,817

Up $2,411,476 (+9.6%) from 2014

Net Assets

Up

$6,458,185

Up $899,725 (+16%) from 2014

Liabilities

Up

$21,077,632

Up $1,511,751 (+7.7%) from 2014

Revenue

Up

$44,472,672

Up $4,647,991 (+12%) from 2014

Expenses

Up

$43,572,947

Up $5,081,216 (+13%) from 2014

Net Income

Down

$899,725

Down $433,225 (-33%) from 2014

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $10,667,035Liabilities 2010: $8,348,668Net Assets 2010: $2,318,3672010Assets 2011: $15,165,480Liabilities 2011: $12,563,093Net Assets 2011: $2,602,3872011Assets 2012: $28,022,749Liabilities 2012: $25,191,560Net Assets 2012: $2,831,1892012Assets 2013: $29,323,501Liabilities 2013: $25,097,991Net Assets 2013: $4,225,5102013Assets 2014: $25,124,341Liabilities 2014: $19,565,881Net Assets 2014: $5,558,4602014Assets 2015: $27,535,817Liabilities 2015: $21,077,632Net Assets 2015: $6,458,1852015Assets 2016: $41,923,890Liabilities 2016: $30,899,883Net Assets 2016: $11,024,0072016Assets 2017: $40,704,175Liabilities 2017: $28,901,978Net Assets 2017: $11,802,1972017Assets 2018: $65,244,323Liabilities 2018: $53,001,161Net Assets 2018: $12,243,1622018Assets 2019: $66,211,878Liabilities 2019: $52,222,890Net Assets 2019: $13,988,9882019Assets 2020: $77,011,976Liabilities 2020: $59,628,014Net Assets 2020: $17,383,9622020Assets 2021: $93,652,592Liabilities 2021: $74,715,318Net Assets 2021: $18,937,2742021Assets 2022: $67,639,027Liabilities 2022: $39,343,623Net Assets 2022: $28,295,4042022Assets 2023: $140,055,400Liabilities 2023: $97,447,063Net Assets 2023: $42,608,3372023Assets 2024: $136,293,210Liabilities 2024: $90,818,995Net Assets 2024: $45,474,2152024

Highlighted filing

2015

Assets$27,535,817
Liabilities$21,077,632
Net Assets$6,458,185

Operations Trend

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

$150M$100M$50M$0Expenses 2010: $25,178,4692010Revenue 2011: $31,524,457Expenses 2011: $31,240,437Net Income 2011: $284,0202011Expenses 2012: $36,272,6782012Expenses 2013: $35,868,1242013Revenue 2014: $39,824,681Expenses 2014: $38,491,731Net Income 2014: $1,332,9502014Revenue 2015: $44,472,672Expenses 2015: $43,572,947Net Income 2015: $899,7252015Revenue 2016: $57,451,671Expenses 2016: $52,885,849Net Income 2016: $4,565,8222016Revenue 2017: $56,741,397Expenses 2017: $55,963,207Net Income 2017: $778,1902017Revenue 2018: $64,261,617Expenses 2018: $63,820,652Net Income 2018: $440,9652018Revenue 2019: $68,703,424Expenses 2019: $66,987,598Net Income 2019: $1,715,8262019Revenue 2020: $72,352,698Expenses 2020: $70,307,724Net Income 2020: $2,044,9742020Revenue 2021: $73,899,584Expenses 2021: $72,346,272Net Income 2021: $1,553,3122021Revenue 2022: $90,647,058Expenses 2022: $81,288,928Net Income 2022: $9,358,1302022Revenue 2023: $118,293,458Expenses 2023: $104,024,275Net Income 2023: $14,269,1832023Revenue 2024: $124,378,976Expenses 2024: $121,513,098Net Income 2024: $2,865,8782024

Highlighted filing

2015

Revenue$44,472,672
Expenses$43,572,947
Net Income$899,725
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 8, 2016
Return Version
2014v6.0
Gross Receipts
$44,474,214
Mission and Program Overview

Mission

River springs charter school, inc. Was established on june 13, 2006 as a nonprofit organization to provide non-classroom based education to students in grades k-12. The school provides services to students living in the following california counties: riverside, orange, san bernardino and san diego.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,170,198$11,405,212▲ $3,235,014
Accounts Receivable$8,064,734$3,562,133▼ $4,502,601
Savings and Temporary Cash Investments$7,092,197$1,906,810▼ $5,185,387
Other Notes and Loans Receivable, Net$500,000$1,700,000▲ $1,200,000
Prepaid Expenses and Deferred Charges$749,703$305,838▼ $443,865
Total Assets$25,124,341$27,535,817▲ $2,411,476
Other Assets Total$547,509$8,655,824▲ $8,108,315
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,000,000$18,000,000→ $0
Accounts Payable and Accrued Expenses$1,555,095$3,066,136▲ $1,511,041
Deferred Revenue-$10,268-
Other Liabilities$10,786$1,228▼ $9,558
Total Liabilities$19,565,881$21,077,632▲ $1,511,751
Net Assets / Fund Balance
Unrestricted Net Assets$5,528,399$6,458,185▲ $929,786
Temporarily Rstr Net Assets$30,061--
Total Net Assets Fund Balance$5,558,460$6,458,185▲ $899,725
Total Liabilities and Net Assets / Fund Balance$25,124,341$27,535,817▲ $2,411,476

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$4,130,036$1,712,403$5,842,439
Equipment$2,570,117$2,563,425$5,133,542
Buildings$3,822,453$81,995$3,904,448
Land$882,606-$882,606
Other Assets Org$8,655,824--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Debra DanielSr Director Pupil-$137,053$9,368$146,421
Dr Kathleen HermsmeyerSuperintendeFT$134,698-$134,698
Philip HermsmeyerDirector of-$130,252-$130,252
Deborah EsselChief Educ O-$116,456-$116,456
Amy Wright-podratzSr Director Bus &-$109,420-$109,420
Charlene PonzioVice Chair-$7,243-$7,243
Sheila RyleSecretary-$6,900-$6,900
Jennifer Mejares PhamChair-$5,836-$5,836

Board Members and Trustees

NameTitle
Carl BurkeDirector
Chuck VelaDirector
Jessica MercerDirector
Stephen DarrowDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Lsms Investments LLCRents15565 SLEEPY CREEK ROAD, El Cajon, CA 92021$642,063
Kalmia Development LLCRents43224 ORMSBY ROAD, Temecula, CA 92592$455,640
Spyglass 3050 Chicago LLCRents5920 CLARIDGE DRIVE, Riverside, CA 92056$453,045
Lfm LLCRents9541 WELK VIEW COURT, Escondido, CA 92026$294,823
Frank's Cleaning ServiceJanitorialPO BOX 890291, Temecula, CA 92589$278,158
Revenue and Support

Revenue Composition

Contributions and Grants
$42,068,897
Program Service Revenue
$0
Investment Income
$71,799
Other Revenue
$2,331,976
Change in Net Assets
$899,725

Audited Revenue Reconciliation

Revenue per Audited Statements
$44,472,672
Total Revenue per Audited Statements
$44,472,672
Total Revenue per Form 990
$44,472,672
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$29,776,275
Other Expenses$13,796,672
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,428,706$6,739,421-$23,168,127
Occupancy$3,712,505$987,845-$4,700,350
Other Employee Benefits$2,176,292$1,037,135-$3,213,427
Pension Plan Contributions$1,435,719$706,932-$2,142,651
Fees for Services Other$1,879,896--$1,879,896
Depreciation Depletion-$1,244,045-$1,244,045
Interest-$1,242,299-$1,242,299
Payroll Taxes$779,347$318,046-$1,097,393
Conferences and Meetings$376,275--$376,275
Travel$264,679--$264,679
Fees for Services Legal-$258,345-$258,345
Office Expenses$240,667--$240,667
All Other Expenses$93,962$121,834-$215,796
Information Technology$179,931--$179,931
Advertising$164,905--$164,905
Current Officers, Directors, Trustees, and Key Employees$134,698$19,979-$154,677
Insurance-$119,271-$119,271
Other Expenses$322,301$91,241-$91,241
Fees for Services Accounting-$21,700-$21,700
Total Functional Expenses$30,041,326$13,531,621$0$43,572,947

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$43,572,947
Total Expenses per Audited Statements$43,572,947
Total Expenses per Form 990$43,572,947
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
Lease Deposits$1,228
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

Dr. Kathleen hermsmeyer phillip hermsmeyer superintende sr dir it family dr. Kathleen hermsmeyer diane anvari superintende human res family

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

A preliminary return is sent to the senior director of business & adminstration and an outside financial consultant for review. Questions and comments will be asked of the preparer and any changes will be made prior to filing if necessary.

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

All employees and board members are required to disclose any conflicts of interest annually. The board will review all conflicts. If any conflicts are presented, the employee/board member will be prohibited to participate in the boards deliberations and decisions in the transaction(s).

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

The initial salaries an any updated salary amounts for our management personnel are determined with the assistance of our independent administrative services provider, who assists us in analyzing competitive area salaries. All management salaries are calculated in conjuction with our compensation committee and are board-approved. The last year this was undertaken is the current 2013-14 fiscal year.

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

The initial salaries an any updated salary amounts for our management personnel are determined with the assistance of our independent administrative services provider, who assists us in analyzing competitive area salaries. All management salaries are calculated in conjuction with our compensation committee and are board-approved. The last year this was undertaken is the current 2013-14 fiscal year.

Form 990, Page 6, Part VI, Line 19

Many of the governing documents and conflict of interest policy is available on the school's website. All other governing documents and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
River Springs Charter School Inc
EIN
20-5069467
Phone
9512528800
Address
43466 BUSINESS PARK DRIVE, TEMECULA, CA 92590

Signing Officer

Name
Tanya Rogers CPA Mba Cfe
Title
Director of Business
Phone
9512528800
Signed
2016-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tanya Rogers CPA Mba Cfe
Formed
2006
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
765

Preparer

Firm
Feddersen & Company Llp
Address
28632 ROADSIDE DR STE 265, AGOURA HILLS, CA 91301-6300
Preparer
Joy a Buller
Phone
8187074111
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

River springs charter school, inc. Was established on june 13, 2006 as a nonprofit organization to provide non-classroom based education to students in grades k-12. The school provides services to students living in the following california counties: riverside, orange, san bernardino and san diego.

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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR OF
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IRS990/MissionDesc0RIVER SPRINGS CHARTER SCHOOL, INC. WAS ESTABLISHED ON JUNE 13, 2006 AS A NONPROFIT ORGANIZATION TO PROVIDE NON-CLASSROOM BASED EDUCATION TO STUDENTS IN GRADES K-12. THE SCHOOL PROVIDES SERVICES TO STUDENTS LIVING IN THE FOLLOWING CALIFORNIA COUNTIES: RIVERSIDE, ORANGE, SAN BERNARDINO AND SAN DIEGO.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RIVER SPRINGS CHARTER SCHOOL, INC. WAS ESTABLISHED ON JUNE 13, 2006 AS A NONPROFIT ORGANIZATION TO PROVIDE NON-CLASSROOM BASED EDUCATION TO STUDENTS IN GRADES K-12. THE SCHOOL PROVIDES SERVICES TO STUDENTS LIVING IN THE FOLLOWING CALIFORNIA COUNTIES: RIVERSIDE, ORANGE, SAN BERNARDINO AND SAN DIEGO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DR. KATHLEEN HERMSMEYER PHILLIP HERMSMEYER SUPERINTENDE SR DIR IT FAMILY DR. KATHLEEN HERMSMEYER DIANE ANVARI SUPERINTENDE HUMAN RES FAMILY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A PRELIMINARY RETURN IS SENT TO THE SENIOR DIRECTOR OF BUSINESS & ADMINSTRATION AND AN OUTSIDE FINANCIAL CONSULTANT FOR REVIEW. QUESTIONS AND COMMENTS WILL BE ASKED OF THE PREPARER AND ANY CHANGES WILL BE MADE PRIOR TO FILING IF NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL EMPLOYEES AND BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ANNUALLY. THE BOARD WILL REVIEW ALL CONFLICTS. IF ANY CONFLICTS ARE PRESENTED, THE EMPLOYEE/BOARD MEMBER WILL BE PROHIBITED TO PARTICIPATE IN THE BOARDS DELIBERATIONS AND DECISIONS IN THE TRANSACTION(S).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE INITIAL SALARIES AN ANY UPDATED SALARY AMOUNTS FOR OUR MANAGEMENT PERSONNEL ARE DETERMINED WITH THE ASSISTANCE OF OUR INDEPENDENT ADMINISTRATIVE SERVICES PROVIDER, WHO ASSISTS US IN ANALYZING COMPETITIVE AREA SALARIES. ALL MANAGEMENT SALARIES ARE CALCULATED IN CONJUCTION WITH OUR COMPENSATION COMMITTEE AND ARE BOARD-APPROVED. THE LAST YEAR THIS WAS UNDERTAKEN IS THE CURRENT 2013-14 FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE INITIAL SALARIES AN ANY UPDATED SALARY AMOUNTS FOR OUR MANAGEMENT PERSONNEL ARE DETERMINED WITH THE ASSISTANCE OF OUR INDEPENDENT ADMINISTRATIVE SERVICES PROVIDER, WHO ASSISTS US IN ANALYZING COMPETITIVE AREA SALARIES. ALL MANAGEMENT SALARIES ARE CALCULATED IN CONJUCTION WITH OUR COMPENSATION COMMITTEE AND ARE BOARD-APPROVED. THE LAST YEAR THIS WAS UNDERTAKEN IS THE CURRENT 2013-14 FISCAL YEAR.

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$136$90.8$45.5$124$122$2.87
2023Detailed filing. Detailed filing data is available for this year.$140$97.4$42.6$118$104$14.3
2022Detailed filing. Detailed filing data is available for this year.$67.6$39.3$28.3$90.6$81.3$9.36
2021Detailed filing. Detailed filing data is available for this year.$93.7$74.7$18.9$73.9$72.3$1.55
2020Detailed filing. Detailed filing data is available for this year.$77.0$59.6$17.4$72.4$70.3$2.04
2019Detailed filing. Detailed filing data is available for this year.$66.2$52.2$14.0$68.7$67.0$1.72
2018Detailed filing. Detailed filing data is available for this year.$65.2$53.0$12.2$64.3$63.8$0.44
2017Detailed filing. Detailed filing data is available for this year.$40.7$28.9$11.8$56.7$56.0$0.78
2016Detailed filing. Detailed filing data is available for this year.$41.9$30.9$11.0$57.5$52.9$4.57
2015Detailed filing. Detailed filing data is available for this year.$27.5$21.1$6.46$44.5$43.6$0.90
2014Detailed filing. Detailed filing data is available for this year.$25.1$19.6$5.56$39.8$38.5$1.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.3$25.1$4.23$35.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.0$25.2$2.83$36.3
2011Summary only. Only limited summary data is available for this year.$15.2$12.6$2.60$31.5$31.2$0.28
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$8.35$2.32$25.2