Civic Intelligence

Alice King Community School Foundation

990 • Fiscal year 2017 • EIN 26-0902688

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

Organization ProfileWWW.AKCSFOUNDATION.ORG
8009 Mountain Rd Pl NEAlbuquerque, NM 87110

(505) 883-2727

Siviq Scores

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

Liabilities / Assets

94th percentile

1.05x

Higher debt load relative to assets than 94% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

98th percentile

21.05x

Higher debt load relative to revenue than 98% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Net Margin

3rd percentile

-76%

Higher net margin than 3% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Balance Sheet
Liabilities / Assets94th percentile

Assets

$6,758,184

No earlier filing loaded for comparison.

Net Assets

-$354,370

No earlier filing loaded for comparison.

Liabilities

$7,112,554

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin3rd percentile

Revenue

$337,950

No earlier filing loaded for comparison.

Expenses

$595,556

No earlier filing loaded for comparison.

Net Income

-$257,606

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MAssets 2017: $6,758,184Liabilities 2017: $7,112,554Net Assets 2017: -$354,3702017Assets 2018: $6,505,716Liabilities 2018: $6,994,525Net Assets 2018: -$488,8092018Assets 2019: $6,383,894Liabilities 2019: $6,913,505Net Assets 2019: -$529,6112019Assets 2020: $6,248,891Liabilities 2020: $6,827,321Net Assets 2020: -$578,4302020Assets 2021: $6,111,128Liabilities 2021: $6,733,665Net Assets 2021: -$622,5372021Assets 2022: $12,600,111Liabilities 2022: $13,102,640Net Assets 2022: -$502,5292022Assets 2023: $12,389,661Liabilities 2023: $12,741,211Net Assets 2023: -$351,5502023Assets 2024: $12,215,740Liabilities 2024: $12,375,751Net Assets 2024: -$160,0112024

Highlighted filing

2017

Assets$6,758,184
Liabilities$7,112,554
Net Assets-$354,370
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2017: $337,950Expenses 2017: $595,556Net Income 2017: -$257,6062017Revenue 2018: $457,991Expenses 2018: $592,430Net Income 2018: -$134,4392018Revenue 2019: $536,815Expenses 2019: $577,617Net Income 2019: -$40,8022019Revenue 2020: $525,481Expenses 2020: $574,300Net Income 2020: -$48,8192020Revenue 2021: $537,077Expenses 2021: $581,186Net Income 2021: -$44,1092021Revenue 2022: $696,454Expenses 2022: $576,446Net Income 2022: $120,0082022Revenue 2023: $718,800Expenses 2023: $567,821Net Income 2023: $150,9792023Revenue 2024: $748,653Expenses 2024: $557,114Net Income 2024: $191,5392024

Highlighted filing

2017

Revenue$337,950
Expenses$595,556
Net Income-$257,606
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.1
Gross Receipts
$337,950
Mission and Program Overview

Mission

The foundation was formed to provide funding and other means of support to akcs, to provide a school where students thrive academically and socially through a strong educational program based upon a structured curriculum supported by discipline and mutual respect. The initial and continuing focus of the foundations is to support the educational pursuits of students by providing funding for programming, facility enhancements and supplemental facility resources. Realizing that alice king community school and its families benefit from participation in the greater community the foundation also endeavors to provide opportunities to enrich the quality of life in the surrounding region.

1)the foundation was formed to provide funding and other means of support to akcs, to provide a school where students thrive academically and socially through a strong educational program based upon a structured curriculum supported by discipline and mutual respect. The initial and continuing focus of the foundations is to support the educational pursuits of students by providing funding for programming, facility enhancements and supplemental facility resources. Realizing that alice king community school and its families benefit from participation in the greater community the foundation also endeavors to provide opportunities to enrich the quality of life in the surrounding region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,408,888$5,782,912▲ $3,374,024
Savings and Temporary Cash Investments$4,480,149$949,167▼ $3,530,982
Cash and Non-Interest-Bearing Accounts$71,263$26,105▼ $45,158
Total Assets$6,960,300$6,758,184▼ $202,116
Liabilities
Tax Exempt Bond Liabilities$6,855,000$6,855,000→ $0
Other Liabilities$75,806$216,588▲ $140,782
Accounts Payable and Accrued Expenses$126,258$40,966▼ $85,292
Total Liabilities$7,057,064$7,112,554▲ $55,490
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$126,050-
Unrestricted Net Assets$-96,764$-480,420▼ $383,656
Total Net Assets Fund Balance$-96,764$-354,370▼ $257,606
Total Liabilities and Net Assets / Fund Balance$6,960,300$6,758,184▼ $202,116

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,332,912$90,388$5,423,300
Land$450,000-$450,000
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Carlos Rey RomeroPresident
Jennifer DennisonSecretary
Benjamin a Martinez CPATreasurer
Joshua AllisonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$11,115
Program Service Revenue
$322,686
Investment Income
$0
Other Revenue
$4,149
All Other Contributions
$5,878
Change in Net Assets
$-257,606

Audited Revenue Reconciliation

Revenue per Audited Statements
$337,950
Total Revenue per Audited Statements
$337,950
Total Revenue per Form 990
$337,950
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$592,529
Grants and Similar Amounts Paid$3,027
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$437,988--$437,988
All Other Expenses$7,098--$7,098
Other Expenses$5,650--$5,650
Fees for Services Accounting$4,297--$4,297
Grants to Domestic Orgs$3,027--$3,027
Office Expenses$392--$392
Total Functional Expenses$595,556$0$0$595,556

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$595,556
Total Expenses per Audited Statements$595,556
Total Expenses per Form 990$595,556
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,450
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable$216,588

Bond Issues

BondIssuerIssuedIssue PricePurpose
BBond Issued Series 20162016-04-29$5,615,000PURCHASE/RENOVATE SCHOOL
ABond Issued Series 20162016-04-29$1,240,000PURCHASE/RENOVATE SCHOOL

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$5,615,000--$460,278
A$1,240,000--$101,647

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
Backup withholding compliance
No
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

“990 is approved by the board or directors”

Form 990, Page 6, Part VI, Line 19

“Form 1023, returns, and governing documents are made availale upon request.”

Filing and Contact Details

Filer

Filer Name
Alice King Community School
EIN
26-0902688
Address
8009 MOUNTAIN RD PL NE, ALBUQUERQUE, NM 87110

Signing Officer

Name
Benjamin a Martinez CPA
Title
Treasurer
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Benjamin a Martinez CPA
Formed
2008
Legal Domicile
Nm
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
10

Preparer

Firm
Carr Riggs & Ingram LLC
Address
2424 LOUISIANA BLVD NE STE 300, ALBUQUERQUE, NM 87110-4370
Preparer
Amy Cherne
Phone
5058832727
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“1)the foundation was formed to provide funding and other means of support to akcs, to provide a school where students thrive academically and socially through a strong educational program based upon a structured curriculum supported by discipline and mutual respect. The initial and continuing focus of the foundations is to support the educational pursuits of students by providing funding for programming, facility enhancements and supplemental facility resources. Realizing that alice king community school and its families benefit from participation in the greater community the foundation also endeavors to provide opportunities to enrich the quality of life in the surrounding region.”

Form 990, Page 2, Part III, Line 4D

“Depreciation expense of building.”

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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1BOND ISSUED SERIES 2016
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01)THE FOUNDATION WAS FORMED TO PROVIDE FUNDING AND OTHER MEANS OF SUPPORT TO AKCS, TO PROVIDE A SCHOOL WHERE STUDENTS THRIVE ACADEMICALLY AND SOCIALLY THROUGH A STRONG EDUCATIONAL PROGRAM BASED UPON A STRUCTURED CURRICULUM SUPPORTED BY DISCIPLINE AND MUTUAL RESPECT. THE INITIAL AND CONTINUING FOCUS OF THE FOUNDATIONS IS TO SUPPORT THE EDUCATIONAL PURSUITS OF STUDENTS BY PROVIDING FUNDING FOR PROGRAMMING, FACILITY ENHANCEMENTS AND SUPPLEMENTAL FACILITY RESOURCES. REALIZING THAT ALICE KING COMMUNITY SCHOOL AND ITS FAMILIES BENEFIT FROM PARTICIPATION IN THE GREATER COMMUNITY THE FOUNDATION ALSO ENDEAVORS TO PROVIDE OPPORTUNITIES TO ENRICH THE QUALITY OF LIFE IN THE SURROUNDING REGION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DEPRECIATION EXPENSE OF BUILDING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2990 IS APPROVED BY THE BOARD OR DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 1023, RETURNS, AND GOVERNING DOCUMENTS ARE MADE AVAILALE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BENJAMIN A MARTINEZ CPA
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,758,184
Liabilities
$7,112,554
Net assets
-$354,370
Revenue
$337,950
Expenses
$595,556
Net income
-$257,606
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.2$12.4$0.16$0.75$0.56$0.19
2023Detailed filing. Detailed filing data is available for this year.$12.4$12.7$0.35$0.72$0.57$0.15
2022Detailed filing. Detailed filing data is available for this year.$12.6$13.1$0.50$0.70$0.58$0.12
2021Detailed filing. Detailed filing data is available for this year.$6.11$6.73$0.62$0.54$0.58$0.04
2020Detailed filing. Detailed filing data is available for this year.$6.25$6.83$0.58$0.53$0.57$0.05
2019Detailed filing. Detailed filing data is available for this year.$6.38$6.91$0.53$0.54$0.58$0.04
2018Detailed filing. Detailed filing data is available for this year.$6.51$6.99$0.49$0.46$0.59$0.13
2017Detailed filing. Detailed filing data is available for this year.$6.76$7.11$0.35$0.34$0.60$0.26