Civic Intelligence

Fulton Sunshine Academy

EIN 20-5753698 • 501(c)3 • Alpharetta, GA

Profile

To instill a love of learning in a nurturing environment through engaging and stimulating learning opportunitites in a school of choice.

PO Box 2730Alpharetta, GA 30023

www.fsaelementary.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

99th percentile

3.56x

Higher debt load relative to assets than 99% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

87th percentile

0.90x

Higher debt load relative to revenue than 87% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

20th percentile

-12%

Higher net margin than 20% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

74th percentile

15%

Faster asset growth than 74% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

30th percentile

-3.9%

Faster revenue growth than 30% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$1,025,324

Up $131,930 (+15%) from 2014

Liabilities

Up

$3,650,605

Up $3,622,691 (+12978%) from 2014

Net Assets

Down

-$2,625,281

Down $3,490,761 (-403%) from 2014

Revenue

Down

$4,039,252

Down $165,322 (-3.9%) from 2014

Expenses

Up

$4,531,045

Up $408,059 (+9.9%) from 2014

Net Income

Down

-$491,793

Down $573,381 (-703%) from 2014

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2011: $346,932Liabilities 2011: $84,421Net Assets 2011: $262,5112011Assets 2012: $514,960Liabilities 2012: $107,418Net Assets 2012: $407,5422012Assets 2013: $843,679Liabilities 2013: $59,787Net Assets 2013: $783,8922013Assets 2014: $893,394Liabilities 2014: $27,914Net Assets 2014: $865,4802014Assets 2015: $1,025,324Liabilities 2015: $3,650,605Net Assets 2015: -$2,625,2812015

Highlighted filing

2015

Assets$1,025,324
Liabilities$3,650,605
Net Assets-$2,625,281

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $2,866,0022011Expenses 2012: $3,543,5042012Expenses 2013: $3,809,6642013Revenue 2014: $4,204,574Expenses 2014: $4,122,986Net Income 2014: $81,5882014Revenue 2015: $4,039,252Expenses 2015: $4,531,045Net Income 2015: -$491,7932015

Highlighted filing

2015

Revenue$4,039,252
Expenses$4,531,045
Net Income-$491,793

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 15, 2016
Return Version
2014v6.0
Gross Receipts
$4,224,999
Mission and Program Overview

Mission

To instill a love of learning in a nurturing environment through engaging and stimulating learning opportunitites in a school of choice.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$225,212-
Land, Buildings, and Equipment, Net$192,611$0▼ $192,611
Cash and Non-Interest-Bearing Accounts$684,843$52,149▼ $632,694
Accounts Receivable$2,420$2,323▼ $97
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$893,394$1,025,324▲ $131,930
Other Assets Total$13,520$745,640▲ $732,120
Liabilities
Other Liabilities-$3,648,480-
Accounts Payable and Accrued Expenses$27,914$2,125▼ $25,789
Total Liabilities$27,914$3,650,605▲ $3,622,691
Net Assets / Fund Balance
Unrestricted Net Assets$865,480$-2,625,281▼ $3,490,761
Total Net Assets Fund Balance$865,480$-2,625,281▼ $3,490,761
Total Liabilities and Net Assets / Fund Balance$893,394$1,025,324▲ $131,930

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$745,640--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,964,978
Program Service Revenue
$259,854
Investment Income
$-185,620
Other Revenue
$40
All Other Contributions
$21,056
Change in Net Assets
$-491,793

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,039,252
Total Revenue per Audited Statements
$4,039,252
Total Revenue per Form 990
$4,039,252
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,941,131
Other Expenses$1,589,914
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,303,381$200,259-$2,503,640
Occupancy$814,379$7,751-$822,130
Pension Plan Contributions$270,381$40,499-$310,880
All Other Expenses$173,689$17,364-$191,053
Other Employee Benefits$70,353$10,512-$80,865
Other Expenses$53,512$6,725-$53,512
Depreciation Depletion$39,352$6,944-$46,296
Payroll Taxes$42,599$3,147-$45,746
Insurance$32,610$3,623-$36,233
Total Functional Expenses$4,186,662$344,383$0$4,531,045

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,531,045
Total Expenses per Audited Statements$4,531,045
Total Expenses per Form 990$4,531,045
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$2,520,040
Deferred Inflows of Resources$1,128,440
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, Part VI, Line 11B: Form 990 Review Process

The president/executive director reviews the 990 return and gives the recommendation for approval to the board. The board then approves the 990 return for submission.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The president/executive director monitors conflict of interest with staff. The board then monitores all potential situations with the executive director. No conflicts of interest were noted during fye 6/30/15.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

No compensation is paid to executive director or other top management.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

No other officers or key employees received compensation during fye 6/30/15.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing documents, financial statements and school policies may be obtained by written request to: p.o. Box 2730, alpharetta, ga 30076

Filing and Contact Details

Filer

Filer Name
Fulton Sunshine Academy
EIN
20-5753698
Phone
4042470532
Address
PO Box 2730, Alpharetta, GA 30023

Signing Officer

Name
Metin Oguzmert
Title
President
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Metin Oguzmert
Formed
2010
Legal Domicile
Ga
Voting Board Members
5
Independent Board Members
5
Employees
87
Volunteers
95

Preparer

Firm
Fricke & Associates PC
Address
3295 River Exchange Dr Ste 275, Norcross, GA 30092
Preparer
William T Fricke CPA
Phone
7702162226
Supplemental Narrative

Additional Explanations

Amended Explanation

Original return was prepared from the organization's books and filed by the previous 990 tax return preparer. Fricke & associates, p.c. Was engaged to perform an annual audit for the fiscal year ended june 30, 2015 and based on adjustements reflected within the audit an amended return for the tax period was required.

Financial Statement Notes

Part X : FIN48 Footnote

The School is a nonprofit corporation that is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no income taxes are reflected in the accompanying financial statements. The School does not receive any income from unrelated business activities and is not required to file a federal Exempt Organization Business Income Tax Return (Form 990-T) and therefore has no uncertain tax positions that are material to the financial statements.

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IRS990/ReportOtherLiabilitiesInd0true
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0225212
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0745640
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOWS OF RESOURCES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01128440
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12520040
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/RevenueSubtotalAmt04039252
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is a nonprofit corporation that is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no income taxes are reflected in the accompanying financial statements. The School does not receive any income from unrelated business activities and is not required to file a federal Exempt Organization Business Income Tax Return (Form 990-T) and therefore has no uncertain tax positions that are material to the financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0745640
IRS990ScheduleD/TotalExpensesPerForm990Amt04531045
IRS990ScheduleD/TotalLiabilityAmt03648480
IRS990ScheduleD/TotalRevenuePerForm990Amt04039252
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04039252
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04531045
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0true
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0On November 20, 2014, the Fulton County School Board voted unanimously to deny the charter renewal application for the Fulton Sunshine Academy. The existing charter expired on June 30, 2015 at which point the School ceased operations.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT/EXECUTIVE DIRECTOR REVIEWS THE 990 RETURN AND GIVES THE RECOMMENDATION FOR APPROVAL TO THE BOARD. THE BOARD THEN APPROVES THE 990 RETURN FOR SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT/EXECUTIVE DIRECTOR MONITORS CONFLICT OF INTEREST WITH STAFF. THE BOARD THEN MONITORES ALL POTENTIAL SITUATIONS WITH THE EXECUTIVE DIRECTOR. NO CONFLICTS OF INTEREST WERE NOTED DURING FYE 6/30/15.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO COMPENSATION IS PAID TO EXECUTIVE DIRECTOR OR OTHER TOP MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO OTHER OFFICERS OR KEY EMPLOYEES RECEIVED COMPENSATION DURING FYE 6/30/15.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND SCHOOL POLICIES MAY BE OBTAINED BY WRITTEN REQUEST TO: P.O. BOX 2730, ALPHARETTA, GA 30076
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ORIGINAL RETURN WAS PREPARED FROM THE ORGANIZATION'S BOOKS AND FILED BY THE PREVIOUS 990 TAX RETURN PREPARER. FRICKE & ASSOCIATES, P.C. WAS ENGAGED TO PERFORM AN ANNUAL AUDIT FOR THE FISCAL YEAR ENDED JUNE 30, 2015 AND BASED ON ADJUSTEMENTS REFLECTED WITHIN THE AUDIT AN AMENDED RETURN FOR THE TAX PERIOD WAS REQUIRED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Amended Explanation
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04186662
IRS990/TotalFunctionalExpensesGrp/TotalAmt04531045
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt027914
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IRS990/TotalLiabilitiesGrp/BOYAmt027914
IRS990/TotalLiabilitiesGrp/EOYAmt03650605
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04039252
IRS990/TotalVolunteersCnt095
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IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2625281
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 2730
IRS990/USAddress/CityNm0ALPHARETTA

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