Civic Intelligence

Lincoln Learning Solutions Inc.

990 • Fiscal year 2021 • EIN 26-0125828

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

294 Massachusetts AvenueRochester, PA 15074

(724) 764-7200

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.04x

Higher debt load relative to assets than 22% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

23rd percentile

0.12x

Higher debt load relative to revenue than 23% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

46th percentile

9.4%

Higher net margin than 46% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

54th percentile

$359,918

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

39th percentile

7.8%

Faster asset growth than 39% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

39th percentile

5.9%

Faster revenue growth than 39% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Assets

Up

$75,574,659

Up $5,479,645 (+7.8%) from 2020

Net Assets

Up

$72,587,107

Up $4,437,146 (+6.5%) from 2020

Liabilities

Up

$2,987,552

Up $1,042,499 (+54%) from 2020

Revenue

Up

$25,553,728

Up $1,431,476 (+5.9%) from 2020

Expenses

Down

$23,146,610

Down $8,721,539 (-27%) from 2020

Net Income

Up

$2,407,118

Up $10,153,015 (+131%) from 2020

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2011: $30,228,760Liabilities 2011: $7,400,826Net Assets 2011: $22,827,9342011Assets 2013: $53,568,238Liabilities 2013: $6,096,323Net Assets 2013: $47,471,9152013Assets 2014: $62,741,566Liabilities 2014: $2,919,333Net Assets 2014: $59,822,2332014Assets 2016: $80,014,442Liabilities 2016: $7,935,148Net Assets 2016: $72,079,2942016Assets 2017: $84,351,782Liabilities 2017: $5,644,063Net Assets 2017: $78,707,7192017Assets 2018: $86,987,947Liabilities 2018: $5,219,307Net Assets 2018: $81,768,6402018Assets 2019: $80,171,460Liabilities 2019: $4,699,901Net Assets 2019: $75,471,5592019Assets 2020: $70,095,014Liabilities 2020: $1,945,053Net Assets 2020: $68,149,9612020Assets 2021: $75,574,659Liabilities 2021: $2,987,552Net Assets 2021: $72,587,1072021Assets 2022: $74,277,686Liabilities 2022: $2,272,607Net Assets 2022: $72,005,0792022Assets 2024: $64,611,888Liabilities 2024: $2,534,591Net Assets 2024: $62,077,2972024

Highlighted filing

2021

Assets$75,574,659
Liabilities$2,987,552
Net Assets$72,587,107

Operations Trend

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

$40M$20M$0-$20MExpenses 2011: $24,962,2152011Expenses 2013: $25,250,9572013Revenue 2014: $34,715,046Expenses 2014: $22,258,762Net Income 2014: $12,456,2842014Revenue 2016: $37,103,100Expenses 2016: $28,034,576Net Income 2016: $9,068,5242016Revenue 2017: $33,896,683Expenses 2017: $27,689,164Net Income 2017: $6,207,5192017Revenue 2018: $26,674,942Expenses 2018: $23,567,600Net Income 2018: $3,107,3422018Revenue 2019: $26,422,075Expenses 2019: $33,107,335Net Income 2019: -$6,685,2602019Revenue 2020: $24,122,252Expenses 2020: $31,868,149Net Income 2020: -$7,745,8972020Revenue 2021: $25,553,728Expenses 2021: $23,146,610Net Income 2021: $2,407,1182021Revenue 2022: $26,156,816Expenses 2022: $23,482,805Net Income 2022: $2,674,0112022Revenue 2024: $21,151,524Expenses 2024: $23,948,278Net Income 2024: -$2,796,7542024

Highlighted filing

2021

Revenue$25,553,728
Expenses$23,146,610
Net Income$2,407,118
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.2
Gross Receipts
$50,945,549
Mission and Program Overview

Mission

The national network of digital schools foundation provides educational instruction to schools and school districts.

To empower learning communities by providing them with products, strategies and services aligned with proven educational practices.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$16,785,188$18,498,667▲ $1,713,479
Investments in Publicly Traded Securities$11,466,002$14,668,136▲ $3,202,134
Investments Other Securities$12,866,708$12,866,708→ $0
Cash and Non-Interest-Bearing Accounts$2,953,690$7,594,385▲ $4,640,695
Other Notes and Loans Receivable, Net$6,040,477$5,740,439▼ $300,038
Inventories for Sale or Use$5,398,635$5,111,312▼ $287,323
Intangible Assets$8,797,826$3,915,405▼ $4,882,421
Land, Buildings, and Equipment, Net$3,629,575$3,465,909▼ $163,666
Prepaid Expenses and Deferred Charges$1,612,524$2,566,337▲ $953,813
Accounts Receivable$220,942$1,133,916▲ $912,974
Total Assets$70,095,014$75,574,659▲ $5,479,645
Other Assets Total$323,447$13,445▼ $310,002
Liabilities
Accounts Payable and Accrued Expenses$974,158$1,789,732▲ $815,574
Grants Payable$629,896$938,759▲ $308,863
Mortgage Notes Payable Secured by Investment Property$301,799$259,061▼ $42,738
Deferred Revenue$39,200$0▼ $39,200
Total Liabilities$1,945,053$2,987,552▲ $1,042,499
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$68,149,961$72,587,107▲ $4,437,146
Total Net Assets Fund Balance$68,149,961$72,587,107▲ $4,437,146
Total Liabilities and Net Assets / Fund Balance$70,095,014$75,574,659▲ $5,479,645

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,861,312$1,323,557$4,184,869
Equipment$286,319$1,240,374$1,526,693
Other Land Buildings$0$774,174$774,174
Land$288,479-$288,479
Leasehold Improvements$29,799$123,312$153,111
Closely Held Equity Interests$12,866,708--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert C ClementsChairman/president/CEOFT$328,902$31,016$359,918
Daryl CareChief Technology OfficerFT$224,853$30,315$255,168
Craig McmillenChief Financial OfficerFT$224,853$10,373$235,226
Rachel BookChief Sales and Marketing OfficerFT$155,623$25,789$181,412
David WhiteheadIt ExecutiveFT$139,203$23,648$162,851
Charles ThayerVP of Academic AffairsFT$135,016$25,454$160,470
James JoplinDirector of Enterprise ArchitectureFT$133,246$12,852$146,098
Derinda RivettiHuman ResourcesFT$129,208$13,364$142,572
Linette VoytovichExecutive/ops TeamFT$129,514$1,557$131,071
Connie HowardDirectorPT$32,433-$32,433
Bruce BoliverTreasurerPT$31,957-$31,957
Gerald GumpfDirectorPT$30,292-$30,292
Robert L Dusch JrSecretaryPT$30,292-$30,292

Highest Paid Contractors

ContractorServicesLocationCompensation
Sla Professionals LLCTechnology Consulting2266 W NEW ORLEANS STREET, Broken Arrow, OK 74014$880,160
Bookpal LLCCirriculum Book Wholesaler18101 VON KARMAN AVENUE SUITE 120, Irvine, CA 92612$739,890
Landmark Media Enterprises LLCOperating System Backups For Data ProtecPO BOX 645209, Pittsburgh, PA 15264$354,700
Mcmillen Urick Tocci And JonesLegal Services2131 BRODHEAD ROAD, Aliquippa, PA 15001$318,308
Edustaff LLCSubstitute Teacher Staffing120 BROCKTON DR SE SUITE 200, Grand Rapids, MI 49512$225,304
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$9,441,315
Investment Income
$1,199,464
Other Revenue
$14,912,949
Change in Net Assets
$2,407,118
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$17,216,030
Other Expenses$5,737,367
Grants and Similar Amounts Paid$193,213
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,133,572$1,839,805-$11,973,377
Other Employee Benefits$1,869,492$279,768-$2,149,260
Information Technology$1,446,970$301,081-$1,748,051
Fees for Services Other$1,014,802$549,610-$1,564,412
Current Officers, Directors, Trustees, and Key Employees$766,206$766,206-$1,532,412
Payroll Taxes$881,161$193,267-$1,074,428
Occupancy$634,417$211,472-$845,889
Pension Plan Contributions$417,537$69,016-$486,553
Fees for Services Legal-$323,982-$323,982
Office Expenses$174,455$52,368-$226,823
Insurance$149,619$55,288-$204,907
Grants to Domestic Orgs$193,213--$193,213
Depreciation Depletion-$184,792-$184,792
Advertising$48,858$117,820-$166,678
Fees for Service Investment Mgmnt Fees-$77,964-$77,964
Travel$29,817$23,275-$53,092
Interest-$17,572-$17,572
Conferences and Meetings$3,732$6,939-$10,671
Other Expenses$5,199$2,291-$2,291
Fees for Services Lobbying-$1,733-$1,733
Total Functional Expenses$17,769,050$5,377,560$0$23,146,610
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
United Way of Beaver CountyMonaca, PA501(c)(3)Support Operations$50,000
Beaver County Educational TrustBeaver, PA501(c)(3)Support Operations$45,000
Mars Home for YouthMars, PA501(c)(3)Support Operations$18,226
MIDLAND WOMEN'S CIVIC CLUB--Support Operations$15,000
Foundation for Free Enterprise EducationErie, PA501(c)(3)Support Operations$5,000
Midland Borough School DistrictMidland, PAGovernmentSupport Operations$0
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
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Craig Mcmillen, CFO Is Closely Related to Mulitple Attorneys of FirmLegal ServicesNo$318,308
Casey ClementsCasey Clements Is the Son of Robert Clements, Board Member/presidentCompensationNo$47,400
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 35% controlled entity
No
Business relationship with family members
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is made available to all board members for review and approval prior to filing.

Form 990, Part VI, Section B, Line 12C

Board members and officers are required to disclose annually interests that could give rise to conflicts. They also review and complete a 990 disclosure questionnaire regarding related organizations on an annual basis.

Form 990, Part VI, Section B, Line 15

The organization utilizes the guidestar compensation report to gauge reasonableness of pay for the executive team. Any pay increases are reviewed and approved by the board.

Form 990, Part VI, Section C, Line 19

Governing documents and form 990 are available to the public upon request for a nominal copying fee. The financial statements for the organization are part of consolidated financial statements that include a for-profit entity; therefore, the financial statements are not offered to the public.

FORM 990, PART VIII, LINE 10:

The amounts reported on line 10 reflect revenue and expense derived from the sale of educational curriculum materials needed to further the organization's exempt purpose.

Filing and Contact Details

Filer

Filer Name
Lincoln Learning Solutions Inc
EIN
26-0125828
Phone
7247647200
Address
294 MASSACHUSETTS AVENUE, ROCHESTER, PA 15074

Signing Officer

Name
Craig Mcmillen
Title
Chief Financial Officer
Phone
7247647200
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Clements
Formed
2005
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
4
Employees
361
Volunteers
0

Preparer

Firm
Deluzio and Company Llp
Address
351 HARVEY AVENUE SUITE A, GREENSBURG, PA 15601-1911
Preparer
Lisa M Altschaffl CPA
Phone
7248388322
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The oversight process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization has evaluated its tax positions taken for all open years. Currently, the 2019, 2018 and 2017 tax years are open and subject to examination by the internal revenue service (irs) and the pennsylvania department of revenue. The organization is not currently under audit, nor has it been contacted by the irs or the pennsylvania department of revenue that it is subject to examination. As of june 30, 2021, no interest or penalties have been recorded. If interest and penalties were recorded, they would be included in income tax expense. Based on the evaluation of the organization's tax positions and elections, management believes all tax positions taken and elections made would be upheld under an examination. Therefore, no provision for the effects of uncertain income tax positions or elections has been recorded as of june 30, 2021.

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IRS990/Desc0LLS PROVIDES ITS EDUCATIONAL CURRICULUM AND MANAGEMENT SERVICES TO ADVANCE EDUCATION OPPORTUNITIES FOR ALL AND TO PROVIDE SUPPORT TO THE COMMUNITIES IN WHICH THE MANAGED SCHOOLS ARE LOCATED. ULTIMATELY, THROUGH GRANTS AND DISTRIBUTIONS TO THESE LOCAL COMMUNITIES, LLS WILL HELP CREATE BETTER COMMUNITIES FOR THE LOCAL STUDENTS FOR WHICH IT IS PROVIDING EDUCATIONAL INSTRUCTION.
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