Civic Intelligence

Kaleidoscope Foundation Inc

990 • Fiscal year 2014 • EIN 26-0586046

Jan 01, 2014 to Dec 31, 2014 • Filed on Jun 29, 2015

Organization Profilewww.kaleidoscope-foundation.org
104 Yellow Wood CircleMooresville, NC 28115

(704) 237-5300

Siviq Scores

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

Liabilities / Assets

67th percentile

0.03x

Higher debt load relative to assets than 67% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

72nd percentile

0.03x

Higher debt load relative to revenue than 72% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

9th percentile

-44%

Higher net margin than 9% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

99th percentile

$130,570

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 64.4% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

17th percentile

-24%

Faster asset growth than 17% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

11th percentile

-42%

Faster revenue growth than 11% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$256,318

Down $82,960 (-24%) from 2013

Net Assets

Down

$249,666

Down $88,230 (-26%) from 2013

Liabilities

Up

$6,652

Up $5,270 (+381%) from 2013

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin9th percentile

Revenue

Down

$202,659

Down $145,827 (-42%) from 2013

Expenses

Down

$290,889

Down $653,503 (-69%) from 2013

Net Income

Up

-$88,230

Up $507,676 (+85%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$1.0M$500K$0Assets 2011: $510,669Liabilities 2011: $0Net Assets 2011: $510,6692011Assets 2012: $956,877Liabilities 2012: $0Net Assets 2012: $956,8772012Assets 2013: $339,278Liabilities 2013: $1,382Net Assets 2013: $337,8962013Assets 2014: $256,318Liabilities 2014: $6,652Net Assets 2014: $249,6662014Assets 2015: $0Liabilities 2015: $0Net Assets 2015: $02015

Highlighted filing

2014

Assets$256,318
Liabilities$6,652
Net Assets$249,666
Open 2014 Filing

Operations Trend

Revenue Growth11th percentile

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

$1.0M$500K$0-$500K-$1.0MExpenses 2011: $89,6052011Expenses 2012: $17,6642012Revenue 2013: $348,486Expenses 2013: $944,392Net Income 2013: -$595,9062013Revenue 2014: $202,659Expenses 2014: $290,889Net Income 2014: -$88,2302014Revenue 2015: $110,886Expenses 2015: $360,552Net Income 2015: -$249,6662015

Highlighted filing

2014

Revenue$202,659
Expenses$290,889
Net Income-$88,230
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jun 29, 2015
Return Version
2014v5.0
Gross Receipts
$220,460
Mission and Program Overview

Mission

Support the activities of Pine Lake Preparatory, a tax-exempt, public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$332,493$256,318▼ $76,175
Accounts Receivable$4,400--
Pledges and Grants Receivable$2,385--
Total Assets$339,278$256,318▼ $82,960
Liabilities
Accounts Payable and Accrued Expenses$1,382$6,652▲ $5,270
Total Liabilities$1,382$6,652▲ $5,270
Net Assets / Fund Balance
Unrestricted Net Assets$337,896$249,666▼ $88,230
Total Net Assets Fund Balance$337,896$249,666▼ $88,230
Total Liabilities and Net Assets / Fund Balance$339,278$256,318▼ $82,960
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Chris TerrillBoard MemberPT$130,570$130,570

Board Members and Trustees

NameTitle
Sara ThomasChair
Theresa SteighnerVice Chair
Ashley ChiltonBoard Member
Ginger HouseBoard Member
Jeff HouseBoard Member
Kristen SutekBoard Member
Kristi ThomasBoard Member
Pamela ShirleyBoard Member
Robert D'AmelioBoard Member
Scott BroermannBoard Member
Jennifer SherwoodSecretary
Leigh Ann JohnsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$175,620
Program Service Revenue
$0
Investment Income
$304
Other Revenue
$26,735
Change in Net Assets
$-88,230

Audited Revenue Reconciliation

Revenue per Audited Statements
$202,659
Revenue Not Reported on Form 990
$17,801
Total Revenue per Audited Statements
$220,460
Total Revenue per Form 990
$202,659
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$290,889
Total Fundraising Expense$85,586
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other--$67,083$67,083
Office Expenses-$9,278-$9,278
Fees for Services Accounting-$7,012-$7,012
All Other Expenses$943--$943
Other Expenses$187,295-$821$821
Advertising$775--$775
Total Functional Expenses$189,013$16,290$85,586$290,889

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$308,690
Expenses per Audited Statements$290,889
Total Expenses per Form 990$290,889
Expenses Not Reported on Form 990$17,801
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$44,536
Fundraising Direct Expenses$17,801
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$44,536$44,536$17,801$26,735
Total Events$44,536$44,536$17,801$26,735
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The board of directors must review and approve the 990 prior to filing. The drafted 990 is emailed to all board members prior to filing and members are asked to review and vote to accept or reject the return.”

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

“Board members are required to disclose conflicts of interest and abstain from discussion and voting on matters involving a conflict. The Organization records in its minutes votes abstained due to conflicts.”

Form 990, Part VI, Section C, Line 19

“Governing documents including organizational documents, financial statements and tax returns are available for public inspection upon written request.”

Form 990, Part VIII, Line 1D

“Pine Lake Preparatory provided 26,250 to Kaleidoscope Foundation for funds Pine Lake Preparatory collected from various donors for the benefit of Kaleidoscope Foundation. The amount contributed was for reimbursement of fees Kaleidoscope Foundation paid to consultants for guidance related to a new capital campaign for the benefit of Pine Lake Preparatory and sponsored by Kaleidoscope Foundation.”

Form 990, Part VIII, Line 1G

“Kaleidoscope Foundation received two gifts of stock from donors. The shares were immediately liquidated and converted to cash equivalents per Kaleidoscope Foundation policy.”

Filing and Contact Details

Filer

Filer Name
Kaleidoscope Foundation Inc
EIN
26-0586046
Phone
7042375300
Address
104 Yellow Wood Circle, Mooresville, NC 28115

Signing Officer

Name
Leigh Ann Johnson
Title
Board Treasurer
Signed
2015-06-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sara Thomas
Formed
2009
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
20

Preparer

Firm
Rebekah Barr CPA PC
Address
5422 Boswellville Road, Wilson, NC 27893
Preparer
Rebekah Barr
Phone
2522306294
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Kaleidoscope Foundation paid two consulting firms to assist with and provide guidance to the board regarding feasibility for a new capital campaign and informatino and coaching for starting a campaign.”

Financial Statement Notes

XI 2D

“Direct special event fundraising expenses shown on line 8b of form 990 part VIII are shown separately on the audited financial statements.”

XII 2D

“Direct special event fundraising expenses shown on line 8b of form 990 part VIII are shown separately on the audited financial statements.”

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IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0187295
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Pine Lake Preparatory
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt0187295
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/ExpensesNotReportedAmt017801
IRS990ScheduleD/ExpensesSubtotalAmt0290889
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherExpensesIncludedAmt017801
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherRevenueAmt017801
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueNotReportedAmt017801
IRS990ScheduleD/RevenueSubtotalAmt0202659
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Direct special event fundraising expenses shown on line 8b of form 990 part VIII are shown separately on the audited financial statements.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Direct special event fundraising expenses shown on line 8b of form 990 part VIII are shown separately on the audited financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0XI 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1XII 2d
IRS990ScheduleD/TotalExpensesPerForm990Amt0290889
IRS990ScheduleD/TotalRevenuePerForm990Amt0202659
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0220460
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0308690
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt017801
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Golf Tournament
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt044536
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt044536
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt044536
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt044536
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt026735
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt017801
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt017801
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board of directors must review and approve the 990 prior to filing. The drafted 990 is emailed to all board members prior to filing and members are asked to review and vote to accept or reject the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members are required to disclose conflicts of interest and abstain from discussion and voting on matters involving a conflict. The Organization records in its minutes votes abstained due to conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents including organizational documents, financial statements and tax returns are available for public inspection upon written request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Pine Lake Preparatory provided 26,250 to Kaleidoscope Foundation for funds Pine Lake Preparatory collected from various donors for the benefit of Kaleidoscope Foundation. The amount contributed was for reimbursement of fees Kaleidoscope Foundation paid to consultants for guidance related to a new capital campaign for the benefit of Pine Lake Preparatory and sponsored by Kaleidoscope Foundation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Kaleidoscope Foundation received two gifts of stock from donors. The shares were immediately liquidated and converted to cash equivalents per Kaleidoscope Foundation policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Kaleidoscope Foundation paid two consulting firms to assist with and provide guidance to the board regarding feasibility for a new capital campaign and informatino and coaching for starting a campaign.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VIII, Line 1d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VIII, Line 1g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 11g
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Pine Lake Preparatory
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0061796895
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$256,318
Liabilities
$6,652
Net assets
$249,666
Revenue
$202,659
Expenses
$290,889
Net income
-$88,230
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.11$3.61$2.50
2014Detailed filing. Detailed filing data is available for this year.$2.56$0.07$2.50$2.03$2.91$0.88
2013Detailed filing. Detailed filing data is available for this year.$3.39$0.01$3.38$3.48$9.44$5.96
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.57$0.00$9.57$0.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.11$0.00$5.11$0.90