Civic Intelligence

River Springs Charter School Inc.

990 • Fiscal year 2016 • EIN 20-5069467

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 06, 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

82nd percentile

0.74x

Higher debt load relative to assets than 82% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

56th percentile

0.54x

Higher debt load relative to revenue than 56% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Net Margin

68th percentile

7.9%

Higher net margin than 68% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

12th percentile

$152,730

Higher top officer pay than 12% of similar nonprofits.

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

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Asset Growth

97th percentile

52%

Faster asset growth than 97% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

89th percentile

29%

Faster revenue growth than 89% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Assets

Up

$41,923,890

Up $14,388,073 (+52%) from 2015

Net Assets

Up

$11,024,007

Up $4,565,822 (+71%) from 2015

Liabilities

Up

$30,899,883

Up $9,822,251 (+47%) from 2015

Revenue

Up

$57,451,671

Up $12,978,999 (+29%) from 2015

Expenses

Up

$52,885,849

Up $9,312,902 (+21%) from 2015

Net Income

Up

$4,565,822

Up $3,666,097 (+407%) from 2015

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

2016

Assets$41,923,890
Liabilities$30,899,883
Net Assets$11,024,007

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

2016

Revenue$57,451,671
Expenses$52,885,849
Net Income$4,565,822
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 6, 2016
Return Version
2015v3.0
Gross Receipts
$57,451,671
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$11,405,212$18,645,075▲ $7,239,863
Savings and Temporary Cash Investments$1,906,810$7,746,180▲ $5,839,370
Accounts Receivable$3,562,133$2,270,962▼ $1,291,171
Other Notes and Loans Receivable, Net$1,700,000--
Prepaid Expenses and Deferred Charges$305,838$17,835▼ $288,003
Total Assets$27,535,817$41,923,890▲ $14,388,073
Other Assets Total$8,655,824$13,243,838▲ $4,588,014
Liabilities
Tax Exempt Bond Liabilities-$28,350,000-
Mortgage Notes Payable Secured by Investment Property$18,000,000--
Accounts Payable and Accrued Expenses$3,066,136$3,428,373▲ $362,237
Deferred Revenue$10,268$126,240▲ $115,972
Other Liabilities$1,228$-1,004,730▼ $1,005,958
Total Liabilities$21,077,632$30,899,883▲ $9,822,251
Net Assets / Fund Balance
Unrestricted Net Assets$6,458,185$11,024,007▲ $4,565,822
Total Net Assets Fund Balance$6,458,185$11,024,007▲ $4,565,822
Total Liabilities and Net Assets / Fund Balance$27,535,817$41,923,890▲ $14,388,073

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,249,836$257,209$8,507,045
Leasehold Improvements$5,329,052$2,313,094$7,642,146
Equipment$2,719,698$3,434,354$6,154,052
Land$2,346,489-$2,346,489
Other Assets Org$494,334--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Kathleen HermsmeyerSuperintendePT$142,090$10,640$152,730
Dr Kathleen HermsmeyerSuperintendent-$142,090$10,640$152,730
Philip HermsmeyerAsst Super TPT$140,471$8,015$148,486
Debra DanielAsst Super PPT$140,447$7,874$148,321
Kelliann MarsagliaSchool PsychFT$120,507$8,880$129,387
Deborah EsselAsst Super EPT$121,612$6,790$128,402
Amy Wright-podratzAsst Super BPT$113,368$6,523$119,891
Jennifer Mejares PhamChair-$9,000-$9,000
Sheila RyleSecretary-$9,000-$9,000
Stephen DarrowDirector-$8,500-$8,500
Charles VelaDirector-$8,000-$8,000
Carl BurkeTreasurer-$7,750-$7,750
Charlene PonzioVice Chair-$7,000-$7,000
Jessica MercerDirector-$6,000-$6,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Benefit And Risk Management ServicesInsurance80 IRON POINT CIRCLE SUITE 200, Folsom, CA 95630$2,195,242
Lsms Investments LLCRents15565 SLEEPY CREEK ROAD, El Cajon, CA 92021$661,323
Keeton Construction Co INCConstruction41635 ENTERPRISE CIRCLE NORTH STE A, Temecula, CA 92590$629,828
Kalmia Development LLCRents43224 ORMSBY ROAD, Temecula, CA 92592$452,936
Spyglass 3050 Chicago LLCRents5920 CLARIDGE DRIVE, Riverside, CA 92056$439,639
Revenue and Support

Revenue Composition

Contributions and Grants
$53,278,812
Program Service Revenue
$0
Investment Income
$16,689
Other Revenue
$4,156,170
Change in Net Assets
$4,565,822

Audited Revenue Reconciliation

Revenue per Audited Statements
$57,451,671
Total Revenue per Audited Statements
$57,451,671
Total Revenue per Form 990
$57,451,671
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$35,710,884
Other Expenses$17,174,965
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$19,655,585$8,039,622-$27,695,207
Occupancy$3,611,393$1,381,914-$4,993,307
Other Employee Benefits$2,612,005$1,101,117-$3,713,122
Pension Plan Contributions$2,008,830$902,131-$2,910,961
Fees for Services Other$2,260,067--$2,260,067
Interest-$1,698,120-$1,698,120
Depreciation Depletion-$1,646,834-$1,646,834
Payroll Taxes$847,662$346,592-$1,194,254
Conferences and Meetings$457,065--$457,065
Insurance-$445,257-$445,257
All Other Expenses$92,550$311,349-$403,899
Office Expenses$314,332--$314,332
Travel$304,426--$304,426
Fees for Services Legal-$295,236-$295,236
Advertising$215,674--$215,674
Information Technology$198,284--$198,284
Current Officers, Directors, Trustees, and Key Employees$142,090$55,250-$197,340
Other Expenses$81,232$44,041-$125,273
Fees for Services Accounting-$21,774-$21,774
Total Functional Expenses$35,866,131$17,019,718$0$52,885,849

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$52,885,849
Total Expenses per Audited Statements$52,885,849
Total Expenses per Form 990$52,885,849
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$5,450
Bond-unamortized Issuance Costs$-1,010,180

Bond Issues

BondIssuerIssuedIssue PricePurpose
CRevenue Bond Series 2015a2015-11-24$22,360,000-
ARevenue Bond Series 2015a2015-11-24$3,000,000-
DRevenue Bond Series 2015a2015-11-24$2,500,000-
BRevenue Bond Series 2015b2015-11-24$490,000-

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----
B----
C----
D----

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
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
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 assistant superintendent of business 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 2015-16 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 2015-16 fiscal year.

Form 990, Page 6, Part VI, Line 19

Many of the governing documents and conflict of interest policy are 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
Dr Kathleen Hermsmeyer
Title
Superintendent
Phone
9512528800
Signed
2016-02-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Kathleen Hermsmeyer
Formed
2006
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
766

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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Document Assets

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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