Civic Intelligence

The Exploration Foundation

990 • Fiscal year 2018 • EIN 20-8992248

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

Organization ProfileEXPLORATIONFOUND.ORG
73-4460 Queen Kaahumanu Hwy 105Kailua Kona, HI 96740-2636

(808) 327-4751

Siviq Scores

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

Liabilities / Assets

86th percentile

0.80x

Higher debt load relative to assets than 86% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

9.74x

Higher debt load relative to revenue than 96% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

80th percentile

23%

Higher net margin than 80% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

38th percentile

$95,980

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 15.5% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

26th percentile

-3.6%

Faster asset growth than 26% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

3.1%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$7,586,311

Down $284,911 (-3.6%) from 2017

Net Assets

Up

$1,541,974

Up $142,536 (+10%) from 2017

Liabilities

Down

$6,044,337

Down $427,447 (-6.6%) from 2017

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin80th percentile

Revenue

Up

$620,533

Up $18,378 (+3.1%) from 2017

Expenses

Down

$477,997

Down $35,581 (-6.9%) from 2017

Net Income

Up

$142,536

Up $53,959 (+61%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$10M$5.0M$0Assets 2011: $93,502Liabilities 2011: $1,194Net Assets 2011: $92,3082011Assets 2012: $93,502Liabilities 2012: $1,194Net Assets 2012: $92,3082012Assets 2013: $2,270,062Liabilities 2013: $602,069Net Assets 2013: $1,667,9932013Assets 2014: $7,187,826Liabilities 2014: $5,513,676Net Assets 2014: $1,674,1502014Assets 2015: $7,705,326Liabilities 2015: $6,254,231Net Assets 2015: $1,451,0952015Assets 2016: $8,061,384Liabilities 2016: $6,750,523Net Assets 2016: $1,310,8612016Assets 2017: $7,871,222Liabilities 2017: $6,471,784Net Assets 2017: $1,399,4382017Assets 2018: $7,586,311Liabilities 2018: $6,044,337Net Assets 2018: $1,541,9742018Assets 2019: $7,529,053Liabilities 2019: $5,886,908Net Assets 2019: $1,642,1452019Assets 2020: $7,005,563Liabilities 2020: $5,223,387Net Assets 2020: $1,782,1762020Assets 2021: $6,689,700Liabilities 2021: $4,751,875Net Assets 2021: $1,937,8252021Assets 2022: $6,415,023Liabilities 2022: $4,432,395Net Assets 2022: $1,982,6282022Assets 2023: $6,250,594Liabilities 2023: $4,276,719Net Assets 2023: $1,973,8752023Assets 2024: $6,110,252Liabilities 2024: $4,114,412Net Assets 2024: $1,995,8402024

Highlighted filing

2018

Assets$7,586,311
Liabilities$6,044,337
Net Assets$1,541,974
Open 2018 Filing

Operations Trend

Revenue Growth48th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $133,3362011Revenue 2012: $162,926Expenses 2012: $133,336Net Income 2012: $29,5902012Expenses 2013: $6,4512013Revenue 2014: $115,815Expenses 2014: $109,658Net Income 2014: $6,1572014Revenue 2015: $278,367Expenses 2015: $501,422Net Income 2015: -$223,0552015Revenue 2016: $327,119Expenses 2016: $467,353Net Income 2016: -$140,2342016Revenue 2017: $602,155Expenses 2017: $513,578Net Income 2017: $88,5772017Revenue 2018: $620,533Expenses 2018: $477,997Net Income 2018: $142,5362018Revenue 2019: $602,111Expenses 2019: $484,596Net Income 2019: $117,5152019Revenue 2020: $606,920Expenses 2020: $466,889Net Income 2020: $140,0312020Revenue 2021: $607,946Expenses 2021: $452,297Net Income 2021: $155,6492021Revenue 2022: $475,606Expenses 2022: $430,803Net Income 2022: $44,8032022Revenue 2023: $427,926Expenses 2023: $436,679Net Income 2023: -$8,7532023Revenue 2024: $498,811Expenses 2024: $476,846Net Income 2024: $21,9652024

Highlighted filing

2018

Revenue$620,533
Expenses$477,997
Net Income$142,536
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$620,533
Mission and Program Overview

Mission

Support west hawaii exploration academy public charter school and to foster dissemination of the school's best practices and other educational reform initiatives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,571,589$7,282,278▼ $289,311
Savings and Temporary Cash Investments$171,004$177,040▲ $6,036
Cash and Non-Interest-Bearing Accounts$117,425$126,993▲ $9,568
Accounts Receivable$11,204--
Total Assets$7,871,222$7,586,311▼ $284,911
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,136,634$5,005,454▼ $131,180
Deferred Revenue$1,330,003$1,038,883▼ $291,120
Accounts Payable and Accrued Expenses$5,147--
Total Liabilities$6,471,784$6,044,337▼ $427,447
Net Assets / Fund Balance
Unrestricted Net Assets$1,395,045$1,531,593▲ $136,548
Temporarily Rstr Net Assets$4,393$10,381▲ $5,988
Total Net Assets Fund Balance$1,399,438$1,541,974▲ $142,536
Total Liabilities and Net Assets / Fund Balance$7,871,222$7,586,311▼ $284,911

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,268,972$1,007,403$8,276,375
Equipment$13,306$64,431$77,737
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleOtherTotal
Heather NakakuraVice-chair$95,980$95,980
Kathy PenwellSecretary$58,207$58,207

Board Members and Trustees

NameTitle
Laurence ScottChair
Andi Pawasat-losalioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$19,875
Program Service Revenue
$600,000
Investment Income
$138
Other Revenue
$520
All Other Contributions
$19,875
Change in Net Assets
$142,536

Audited Revenue Reconciliation

Revenue per Audited Statements
$620,533
Total Revenue per Audited Statements
$620,533
Total Revenue per Form 990
$620,533
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$477,997
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
Depreciation Depletion$289,311--$289,311
Interest$178,008--$178,008
Insurance$501$502-$1,003
Other Expenses$667--$667
Total Functional Expenses$477,495$502$0$477,997

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$477,997
Total Expenses per Audited Statements$477,997
Total Expenses per Form 990$477,997
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
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

“The board of directors reviews and approves the form 990 prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Forms 1023 and 990 are available upon request. Form 990 is available on guidestar.”

Filing and Contact Details

Filer

Filer Name
The Exploration Foundation
EIN
20-8992248
Phone
8083274751
Address
73-4460 QUEEN KAAHUMANU HWY 105, KAILUA KONA, HI 96740-2636

Signing Officer

Name
Heather Nakakura
Title
Vice-chair
Phone
8083274751
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laurence Scott
Formed
2008
Legal Domicile
Hi
Voting Board Members
4
Independent Board Members
2
Employees
0
Volunteers
4

Preparer

Firm
Carbonaro Cpas & Management Group
Address
1885 MAIN ST STE 408, WAILUKU, HI 96793
Preparer
Gretchen Kremeyer
Phone
8082425002
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is exempt from federal income taxes under section 501(c) (3) of the internal revenue code and applicable state law. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the organization and various positions related to the potential sources of unrelated business taxable income (ubit). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified, or recorded as liabilities for the year ended june 30, 2018 and 2017. The organization files its forms 990 in the u.s. Federal jurisdiction and the office of the state's attorney general for the state of hawai'i. The organization is generally no longer subject to examination by the internal revenue service for years before 2015.”

Raw XML Appendix374 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/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE LAW. THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE ORGANIZATION AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED, OR RECORDED AS LIABILITIES FOR THE YEAR ENDED JUNE 30, 2018 AND 2017. THE ORGANIZATION FILES ITS FORMS 990 IN THE U.S. FEDERAL JURISDICTION AND THE OFFICE OF THE STATE'S ATTORNEY GENERAL FOR THE STATE OF HAWAI'I. THE ORGANIZATION IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR YEARS BEFORE 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalRevenuePerForm990Amt0620533
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0620533
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORMS 1023 AND 990 ARE AVAILABLE UPON REQUEST. FORM 990 IS AVAILABLE ON GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE EXPLORATION FOUNDATION
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ReturnHeader/FilingSecurityInformation/IPDt02019-05-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm018:46:53
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0990303190
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CARBONARO CPAS & MANAGEMENT GROUP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01885 MAIN ST STE 408
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WAILUKU
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0HI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd096793
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GRETCHEN KREMEYER
ReturnHeader/ReturnTs02019-05-14T18:46:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,586,311
Liabilities
$6,044,337
Net assets
$1,541,974
Revenue
$620,533
Expenses
$477,997
Net income
$142,536
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.11$4.11$2.00$0.50$0.48$0.02
2023Detailed filing. Detailed filing data is available for this year.$6.25$4.28$1.97$0.43$0.44$0.01
2022Detailed filing. Detailed filing data is available for this year.$6.42$4.43$1.98$0.48$0.43$0.04
2021Detailed filing. Detailed filing data is available for this year.$6.69$4.75$1.94$0.61$0.45$0.16
2020Detailed filing. Detailed filing data is available for this year.$7.01$5.22$1.78$0.61$0.47$0.14
2019Detailed filing. Detailed filing data is available for this year.$7.53$5.89$1.64$0.60$0.48$0.12
2018Detailed filing. Detailed filing data is available for this year.$7.59$6.04$1.54$0.62$0.48$0.14
2017Detailed filing. Detailed filing data is available for this year.$7.87$6.47$1.40$0.60$0.51$0.09
2016Detailed filing. Detailed filing data is available for this year.$8.06$6.75$1.31$0.33$0.47$0.14
2015Detailed filing. Detailed filing data is available for this year.$7.71$6.25$1.45$0.28$0.50$0.22
2014Detailed filing. Detailed filing data is available for this year.$7.19$5.51$1.67$0.12$0.11$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.27$0.60$1.67$0.01
2012Summary only. Only limited summary data is available for this year.$0.09$0.00$0.09$0.16$0.13$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.00$0.09$0.13