Civic Intelligence

Watts Learning Center Inc

990 • Fiscal year 2016 • EIN 26-1910610

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 22, 2017

310 W 95th StLos Angeles, CA 90003

(323) 754-9900

Siviq Scores

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

Liabilities / Assets

80th percentile

0.62x

Higher debt load relative to assets than 80% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

94th percentile

5.74x

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

90th percentile

45%

Higher net margin than 90% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

50th percentile

1.6%

Faster asset growth than 50% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

95th percentile

114%

Faster revenue growth than 95% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Up

$6,909,566

Up $106,029 (+1.6%) from 2015

Net Assets

Up

$2,653,128

Up $330,025 (+14%) from 2015

Liabilities

Down

$4,256,438

Down $223,996 (-5.0%) from 2015

Revenue

Up

$741,083

Up $394,283 (+114%) from 2015

Expenses

Up

$411,058

Up $97,635 (+31%) from 2015

Net Income

Up

$330,025

Up $296,648 (+889%) from 2015

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2013: $6,731,644Liabilities 2013: $4,476,259Net Assets 2013: $2,255,3852013Assets 2014: $6,631,159Liabilities 2014: $4,341,433Net Assets 2014: $2,289,7262014Assets 2015: $6,803,537Liabilities 2015: $4,480,434Net Assets 2015: $2,323,1032015Assets 2016: $6,909,566Liabilities 2016: $4,256,438Net Assets 2016: $2,653,1282016Assets 2017: $9,432,095Liabilities 2017: $6,658,838Net Assets 2017: $2,773,2572017Assets 2018: $10,206,210Liabilities 2018: $7,458,888Net Assets 2018: $2,747,3222018Assets 2019: $10,011,296Liabilities 2019: $7,326,931Net Assets 2019: $2,684,3652019Assets 2020: $9,811,622Liabilities 2020: $7,183,672Net Assets 2020: $2,627,9502020Assets 2021: $9,611,649Liabilities 2021: $7,035,820Net Assets 2021: $2,575,8292021Assets 2022: $9,471,730Liabilities 2022: $6,941,492Net Assets 2022: $2,530,2382022Assets 2023: $9,337,036Liabilities 2023: $6,826,982Net Assets 2023: $2,510,0542023Assets 2024: $9,074,442Liabilities 2024: $6,709,068Net Assets 2024: $2,365,3742024Assets 2025: $8,903,806Liabilities 2025: $6,631,942Net Assets 2025: $2,271,8642025

Highlighted filing

2016

Assets$6,909,566
Liabilities$4,256,438
Net Assets$2,653,128

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2013: $318,8392013Revenue 2014: $347,299Expenses 2014: $312,958Net Income 2014: $34,3412014Revenue 2015: $346,800Expenses 2015: $313,423Net Income 2015: $33,3772015Revenue 2016: $741,083Expenses 2016: $411,058Net Income 2016: $330,0252016Revenue 2017: $431,562Expenses 2017: $311,433Net Income 2017: $120,1292017Revenue 2018: $420,006Expenses 2018: $445,941Net Income 2018: -$25,9352018Revenue 2019: $420,009Expenses 2019: $482,966Net Income 2019: -$62,9572019Revenue 2020: $420,017Expenses 2020: $476,432Net Income 2020: -$56,4152020Revenue 2021: $420,003Expenses 2021: $472,124Net Income 2021: -$52,1212021Revenue 2022: $420,012Expenses 2022: $465,603Net Income 2022: -$45,5912022Revenue 2023: $429,463Expenses 2023: $449,647Net Income 2023: -$20,1842023Revenue 2024: $432,669Expenses 2024: $577,349Net Income 2024: -$144,6802024Revenue 2025: $432,620Expenses 2025: $526,130Net Income 2025: -$93,5102025

Highlighted filing

2016

Revenue$741,083
Expenses$411,058
Net Income$330,025
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 22, 2017
Return Version
2015v3.0
Gross Receipts
$741,083
Mission and Program Overview

Mission

Watts learning center inc.'s primary purpose is the financing, development, leasing and maintenance of school educational facilities for the support of watts learning center foundation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,470,013$6,625,450▲ $155,437
Savings and Temporary Cash Investments$327,746$244,844▼ $82,902
Prepaid Expenses and Deferred Charges-$39,272-
Total Assets$6,803,537$6,909,566▲ $106,029
Other Assets Total$5,778$0▼ $5,778
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,450,413$4,213,411▼ $237,002
Other Liabilities$23,243$35,836▲ $12,593
Accounts Payable and Accrued Expenses$6,778$7,191▲ $413
Total Liabilities$4,480,434$4,256,438▼ $223,996
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,323,103$2,653,128▲ $330,025
Total Net Assets Fund Balance$2,323,103$2,653,128▲ $330,025
Total Liabilities and Net Assets / Fund Balance$6,803,537$6,909,566▲ $106,029

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,833,085$848,155$5,681,240
Land$1,500,000-$1,500,000
Other Land Buildings$292,365-$292,365
Compensation and Service Providers

Board Members and Trustees

NameTitle
Eugene L FisherPresident
Justin SandersMember
Dr Owen KnoxSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Cunningham Group ArchitectureArchitecture201 MAIN ST SE SUITE 325, Minneapolis, MN 55414$150,370
Revenue and Support

Revenue Composition

Contributions and Grants
$400,000
Program Service Revenue
$341,083
Investment Income
$0
Other Revenue
$0
All Other Contributions
$400,000
Change in Net Assets
$330,025
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$411,058
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
Interest-$203,545-$203,545
Depreciation Depletion$113,625--$113,625
Other Expenses-$77,982-$77,982
Fees for Services Accounting-$15,818-$15,818
Office Expenses-$88-$88
Total Functional Expenses$113,625$297,433$0$411,058
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intercompany Payables$35,836
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The form 990 will be given to the board members for review and approval

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

All members must disclose annually any conflicts of interest, which are monitored by the executive director and the board. If a conflict arises the board member is asked to excuse himself or herself from all discussions and voting on the issue.

Form 990, Part VI, Section C, Line 19

All governing documents, policies, and financial statements are available upon request at the organization's location during normal business hours.

Filing and Contact Details

Filer

Filer Name
Watts Learning Center Inc
EIN
26-1910610
Phone
3237549900
Address
310 W 95TH ST, LOS ANGELES, CA 90003

Signing Officer

Name
Eugene L Fisher
Title
President
Phone
3237549900
Signed
2017-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eugene L Fisher
Formed
2007
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Vavrinektrineday & Co Llp
Address
10681 FOOTHILL BLVD SUITE 300, RANCHO CUCAMONGA, CA 91730
Preparer
Matthew S Miller
Phone
9094664410
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The corporation and the llc have adopted financial accounting standards board (fasb) accounting standards codification (asc) topic 740, that clarifies the accounting for uncertainty in tax positions taken or expected to be taken on a tax return and provides that the tax effects from uncertain tax position can be recognized in the financial statements only if, based on its merits, the position is more likely than not to be sustained on audit by the taxing authorities. Management believes that all tax positions taken to date are highly certain, and, accordingly, no accounting adjustment has been made to the financial statements.

Raw XML Appendix369 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 CORPORATION AND THE LLC HAVE ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) TOPIC 740, THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN AND PROVIDES THAT THE TAX EFFECTS FROM UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF, BASED ON ITS MERITS, THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT BY THE TAXING AUTHORITIES. MANAGEMENT BELIEVES THAT ALL TAX POSITIONS TAKEN TO DATE ARE HIGHLY CERTAIN, AND, ACCORDINGLY, NO ACCOUNTING ADJUSTMENT HAS BEEN MADE TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WILL BE GIVEN TO THE BOARD MEMBERS FOR REVIEW AND APPROVAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL MEMBERS MUST DISCLOSE ANNUALLY ANY CONFLICTS OF INTEREST, WHICH ARE MONITORED BY THE EXECUTIVE DIRECTOR AND THE BOARD. IF A CONFLICT ARISES THE BOARD MEMBER IS ASKED TO EXCUSE HIMSELF OR HERSELF FROM ALL DISCUSSIONS AND VOTING ON THE ISSUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S LOCATION DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-22
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ReturnHeader/PreparerPersonGrp/PhoneNum09094664410
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW S MILLER
ReturnHeader/ReturnTs02017-02-25T10:44:43-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

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