Civic Intelligence

Kipp Socal Public Schools

990 • Fiscal year 2016 • EIN 26-1607268

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 16, 2017

3601 East First StreetLos Angeles, CA 90063

(213) 489-4461

Siviq Scores

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

Liabilities / Assets

21st percentile

0.07x

Higher debt load relative to assets than 21% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

10th percentile

0.05x

Higher debt load relative to revenue than 10% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Net Margin

82nd percentile

20%

Higher net margin than 82% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

33rd percentile

$256,847

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Asset Growth

94th percentile

32%

Faster asset growth than 94% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

88th percentile

26%

Faster revenue growth than 88% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Assets

Up

$60,068,267

Up $14,686,820 (+32%) from 2015

Net Assets

Up

$56,072,980

Up $14,572,811 (+35%) from 2015

Liabilities

Up

$3,995,287

Up $114,009 (+2.9%) from 2015

Revenue

Up

$73,480,479

Up $15,359,675 (+26%) from 2015

Expenses

Up

$58,878,455

Up $14,081,354 (+31%) from 2015

Net Income

Up

$14,602,024

Up $1,278,321 (+9.6%) from 2015

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2013: $16,169,287Liabilities 2013: $3,968,262Net Assets 2013: $12,201,0252013Assets 2014: $31,660,475Liabilities 2014: $3,492,830Net Assets 2014: $28,167,6452014Assets 2015: $45,381,447Liabilities 2015: $3,881,278Net Assets 2015: $41,500,1692015Assets 2016: $60,068,267Liabilities 2016: $3,995,287Net Assets 2016: $56,072,9802016Assets 2017: $72,695,659Liabilities 2017: $4,503,315Net Assets 2017: $68,192,3442017Assets 2018: $89,317,669Liabilities 2018: $5,572,750Net Assets 2018: $83,744,9192018Assets 2020: $110,207,863Liabilities 2020: $15,442,356Net Assets 2020: $94,765,5072020Assets 2021: $124,148,972Liabilities 2021: $20,539,187Net Assets 2021: $103,609,7852021Assets 2022: $153,373,380Liabilities 2022: $26,799,839Net Assets 2022: $126,573,5412022Assets 2024: $431,410,477Liabilities 2024: $291,375,688Net Assets 2024: $140,034,7892024

Highlighted filing

2016

Assets$60,068,267
Liabilities$3,995,287
Net Assets$56,072,980

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2013: $24,033,1772013Revenue 2014: $49,304,617Expenses 2014: $33,384,981Net Income 2014: $15,919,6362014Revenue 2015: $58,120,804Expenses 2015: $44,797,101Net Income 2015: $13,323,7032015Revenue 2016: $73,480,479Expenses 2016: $58,878,455Net Income 2016: $14,602,0242016Revenue 2017: $85,951,446Expenses 2017: $74,049,040Net Income 2017: $11,902,4062017Revenue 2018: $102,109,881Expenses 2018: $86,743,540Net Income 2018: $15,366,3412018Revenue 2020: $123,578,222Expenses 2020: $119,212,219Net Income 2020: $4,366,0032020Revenue 2021: $140,910,132Expenses 2021: $132,245,208Net Income 2021: $8,664,9242021Revenue 2022: $192,640,939Expenses 2022: $172,680,707Net Income 2022: $19,960,2322022Revenue 2024: $220,583,100Expenses 2024: $222,583,340Net Income 2024: -$2,000,2402024

Highlighted filing

2016

Revenue$73,480,479
Expenses$58,878,455
Net Income$14,602,024
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 16, 2017
Return Version
2015v3.0
Gross Receipts
$73,576,598
Mission and Program Overview

Mission

Together with families and communities, we create joyful, academically excellent schools that prepare students with the skills and confidence to pursue the paths they choose - college, career and beyond - so they can lead fulfilling lives and create a more just world.

Teach the academic skills, foster the intellectual habits, and cultivate the character traits needed for our students to thrive in high school, college, and life. Through the success of our students, the kipp la team and family will serve as a model of excellence and collaborate with others to raise the quality of education in los angeles.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$21,170,921$34,238,402▲ $13,067,481
Accounts Receivable$10,698,333$7,549,591▼ $3,148,742
Cash and Non-Interest-Bearing Accounts$3,280,751$5,923,431▲ $2,642,680
Pledges and Grants Receivable$1,710,000$4,471,960▲ $2,761,960
Other Notes and Loans Receivable, Net$3,588,823$2,779,380▼ $809,443
Land, Buildings, and Equipment, Net$2,618,039$2,363,812▼ $254,227
Investments in Publicly Traded Securities$1,223,446$1,651,363▲ $427,917
Prepaid Expenses and Deferred Charges$445,896$327,390▼ $118,506
Total Assets$45,381,447$60,068,267▲ $14,686,820
Other Assets Total$645,238$762,938▲ $117,700
Liabilities
Accounts Payable and Accrued Expenses$2,422,916$2,452,993▲ $30,077
Deferred Revenue$458,362$1,042,294▲ $583,932
Mortgage Notes Payable Secured by Investment Property$500,000--
Other Liabilities$500,000$500,000→ $0
Total Liabilities$3,881,278$3,995,287▲ $114,009
Net Assets / Fund Balance
Unrestricted Net Assets$33,292,376$49,497,327▲ $16,204,951
Temporarily Rstr Net Assets$8,207,793$6,575,653▼ $1,632,140
Total Net Assets Fund Balance$41,500,169$56,072,980▲ $14,572,811
Total Liabilities and Net Assets / Fund Balance$45,381,447$60,068,267▲ $14,686,820

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,330,505$801,169$2,131,674
Land$631,848-$631,848
Buildings$246,109$14,477$260,586
Equipment$132,279$67,304$199,583
Other Land Buildings$23,071-$23,071
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marcia AaronExecutive DiFT$231,838$25,009$256,847
Marcia AaronExecutive Director-$231,838$25,009$256,847
Angella MartinezChief AcademFT$179,543$16,956$196,499
Angella MartinezChief Academic Offic-$179,543$16,956$196,499
Nicole ScottChief LegalFT$163,742$18,001$181,743
Nicole ScottChief Legal Affairs-$163,742$18,001$181,743
Matthew a PeskayChief of InnFT$152,733$14,815$167,548
Matthew a PeskayChief of Innovation-$152,733$14,815$167,548
Amber MedinaDirector ofFT$151,782$15,210$166,992
Amber MedinaDirector of Schools-$151,782$15,210$166,992
Sarah HughesChief of StaFT$147,977$18,633$166,610
Sarah HughesChief of Staff-$147,977$17,040$166,610
Kyle SalyerChief of FinFT$154,978$10,817$165,795
Kyle SalyerChief of Finance-$154,978$10,817$165,795
Jelena DobicAdvancementFT$151,497$5,330$156,827
Jelena DobicAdvancement Officer-$151,497$14,705$156,827
Margarita FlorezDirector ofFT$143,997$12,181$156,178
Margarita FlorezDirector of Learning-$143,997$4,399$156,178

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Tycho Services INCJanitorial3906 W BURBANK BLVD, Burbank, CA 91505$490,876
Haynes Building Service LLCJanitorial125 W MAPLE AVE, Monrovia, CA 91016$296,779
Leadership Advisory GroupConsulting1 LARK DRIVE, Las Flores, CA 92688$260,943
E & L ConstructionConstruction14050 CHERRY AVE 57, Fontana, CA 92337$185,012
Directed Education ServicesSpecial Ed21050 CALIFA ST, Woodland Hills, CA 91367$170,555
Revenue and Support

Revenue Composition

Contributions and Grants
$72,197,093
Program Service Revenue
$184,130
Investment Income
$67,042
Other Revenue
$1,032,214
All Other Contributions
$13,366,445
Change in Net Assets
$14,602,024

Audited Revenue Reconciliation

Revenue per Audited Statements
$73,480,479
Revenue Not Reported on Form 990
$66,906
Total Revenue per Audited Statements
$73,547,385
Total Revenue per Form 990
$73,480,479
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$35,978,805
Other Expenses$22,899,650
Total Fundraising Expense$1,097,652
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$25,143,327$3,181,959$493,568$28,818,854
Occupancy$6,851,681$321,144$50,384$7,223,209
Fees for Services Other$2,543,550$1,051,572$4,714$3,599,836
Other Expenses$3,478,743$564,235$206,792$3,478,743
Other Employee Benefits$2,731,154$505,699$70,285$3,307,138
Payroll Taxes$1,867,230$291,059$35,911$2,194,200
Information Technology$1,199,801$227,583$35,705$1,463,089
Current Officers, Directors, Trustees, and Key Employees-$870,425-$870,425
Office Expenses$747,075$94,819$6,405$848,299
Pension Plan Contributions$689,996$82,509$15,683$788,188
Conferences and Meetings$570,940$104,295$16,363$691,598
Fees for Services Management-$425,120-$425,120
Advertising$25,047$151,095$152,806$328,948
Depreciation Depletion$267,969$11,291$1,771$281,031
Insurance-$257,421-$257,421
Travel$139,526$46,305$7,265$193,096
Fees for Services Legal-$149,734-$149,734
Interest-$139,552-$139,552
Fees for Services Accounting-$80,891-$80,891
Total Functional Expenses$49,224,095$8,556,708$1,097,652$58,878,455

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$58,974,574
Expenses per Audited Statements$58,878,455
Total Expenses per Form 990$58,878,455
Expenses Not Reported on Form 990$96,119
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$100,522
Fundraising Direct Expenses$96,119
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Unmasked Event$59,155$59,155$11,580$47,575
Moka Event$36,647$36,647$10,590$26,057
Total Events$95,802$95,802$93,433$2,369
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Kipp Foundation Note Payable$500,000
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The organization has a single member, the kipp foundation.

Form 990, Page 6, Part VI, Line 7A

The single member has the exclusive right to remove and replace any member of the corporation's board of directors.

Form 990, Page 6, Part VI, Line 7B

The single member has the exclusive right to remove and replace any member of the corporation's board of directors. Additionally, certain actions of the board of directors may be subject to ratification by the single member.

Form 990, Page 6, Part VI, Line 11B

The form is prepared by our independent auditors based on information provided by kipp la schools. Following an iterative review by kipp la schools' senior professionals and our independent auditors, the tax return is reviewed by the full board of directors prior to submission.

Form 990, Page 6, Part VI, Line 12C

After disclosure of the financial interest and all material facts relating thereto, and after any discussion thereof, the interested person shall leave the board of directors' meeting while the financial interest is discussed and voted upon. The remaining board of directors shall decide if a conflict of interest exists.

Form 990, Page 6, Part VI, Line 15A

The board of directors approves the compensation of the executive director.

Form 990, Page 6, Part VI, Line 15B

The process includes review of comparability data, review and approval by the governance committee and executive director, and contemporaneous substantiation of the deliberation and decision.

Form 990, Page 6, Part VI, Line 19

All financial information is available on kipp la's website; additional documentation is available upon request.

Filing and Contact Details

Filer

Filer Name
Kipp La Schools
EIN
26-1607268
Phone
2134894461
Address
3601 EAST FIRST STREET, LOS ANGELES, CA 90063

Signing Officer

Name
Marcia Aaron
Title
Executive Director
Phone
2134894461
Signed
2017-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marcia Aaron
Formed
2008
Legal Domicile
CA
Voting Board Members
15
Independent Board Members
15
Employees
694
Volunteers
500

Preparer

Firm
Vicenti Lloyd & Stutzman
Address
2210 E ROUTE 66 STE 100, GLENDORA, CA 91740-4676
Preparer
Derrick Debruyne CPA
Phone
6268577300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Teach the academic skills, foster the intellectual habits, and cultivate the character traits needed for our students to thrive in high school, college, and life. Through the success of our students, the kipp la team and family will serve as a model of excellence and collaborate with others to raise the quality of education in los angeles.

Form 990, Part XI, Line 9

Fundraising events 96,119 fundraising expense -96,119

Financial Statement Notes

Schedule D, Page 3, Part X

Kipp la has evaluated its tax positions and the certainity as to whether those positions will be sustained in the event of an audit by taxing authorities at the federal and state levels. The primary tax positions evaluated are related to its continued qualification as a tax-exempt organization and whether there are unrelated business income activities conducted that would be taxable. Management has determined that all income tax positions are more likely than not of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. The statute of limitations for federal and california state purposes is generally three and four years, respectively.

Schedule D, Page 4, Part XI, Line 2D

Fundraising events 96,119

Schedule D, Page 4, Part XII, Line 2D

Fundraising expense 96,119

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IRS990/MissionDesc0TEACH THE ACADEMIC SKILLS, FOSTER THE INTELLECTUAL HABITS, AND CULTIVATE THE CHARACTER TRAITS NEEDED FOR OUR STUDENTS TO THRIVE IN HIGH SCHOOL, COLLEGE, AND LIFE. THROUGH THE SUCCESS OF OUR STUDENTS, THE KIPP LA TEAM AND FAMILY WILL SERVE AS A MODEL OF EXCELLENCE AND COLLABORATE WITH OTHERS TO RAISE THE QUALITY OF EDUCATION IN LOS ANGELES.
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