Civic Intelligence

Jefferson Academy

990 • Fiscal year 2019 • EIN 26-2546736

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 27, 2020

1425 S Angel StreetKaysville, UT 84037

(801) 593-8200

Siviq Scores

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

Liabilities / Assets

95th percentile

1.14x

Higher debt load relative to assets than 95% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

91st percentile

3.04x

Higher debt load relative to revenue than 91% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

39th percentile

0.6%

Higher net margin than 39% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

13th percentile

$0

Higher top officer pay than 13% of similar nonprofits.

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

29th percentile

-1.1%

Faster asset growth than 29% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

50th percentile

3.9%

Faster revenue growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Down

$11,212,428

Down $119,625 (-1.1%) from 2018

Net Assets

Up

-$1,575,801

Up $23,829 (+1.5%) from 2018

Liabilities

Down

$12,788,229

Down $143,454 (-1.1%) from 2018

Revenue

Up

$4,200,194

Up $158,378 (+3.9%) from 2018

Expenses

Down

$4,176,365

Down $1,128,924 (-21%) from 2018

Net Income

Up

$23,829

Up $1,287,302 (+102%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2017: $11,639,942Liabilities 2017: $11,976,099Net Assets 2017: -$336,1572017Assets 2018: $11,332,053Liabilities 2018: $12,931,683Net Assets 2018: -$1,599,6302018Assets 2019: $11,212,428Liabilities 2019: $12,788,229Net Assets 2019: -$1,575,8012019Assets 2020: $11,263,808Liabilities 2020: $12,607,812Net Assets 2020: -$1,344,0042020Assets 2021: $11,457,187Liabilities 2021: $12,932,388Net Assets 2021: -$1,475,2012021Assets 2022: $10,751,087Liabilities 2022: $11,640,242Net Assets 2022: -$889,1552022Assets 2023: $10,911,005Liabilities 2023: $11,324,213Net Assets 2023: -$413,2082023Assets 2024: $11,489,781Liabilities 2024: $11,035,264Net Assets 2024: $454,5172024

Highlighted filing

2019

Assets$11,212,428
Liabilities$12,788,229
Net Assets-$1,575,801

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $3,757,772Expenses 2017: $4,031,122Net Income 2017: -$273,3502017Revenue 2018: $4,041,816Expenses 2018: $5,305,289Net Income 2018: -$1,263,4732018Revenue 2019: $4,200,194Expenses 2019: $4,176,365Net Income 2019: $23,8292019Revenue 2020: $4,400,715Expenses 2020: $4,168,918Net Income 2020: $231,7972020Revenue 2021: $5,427,068Expenses 2021: $5,035,971Net Income 2021: $391,0972021Revenue 2022: $5,862,727Expenses 2022: $5,276,681Net Income 2022: $586,0462022Revenue 2023: $5,671,637Expenses 2023: $5,195,690Net Income 2023: $475,9472023Revenue 2024: $6,245,237Expenses 2024: $5,377,512Net Income 2024: $867,7252024

Highlighted filing

2019

Revenue$4,200,194
Expenses$4,176,365
Net Income$23,829
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 27, 2020
Return Version
2018v3.1
Gross Receipts
$4,200,194
Mission and Program Overview

Mission

To offer a challenging and content-rich history-centered curriculum that incorporates the study of american citizenship and is based on the core knowledge sequence.

The education of students grades k-6.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,952,629$8,769,333▼ $183,296
Savings and Temporary Cash Investments$1,870,631$1,885,187▲ $14,556
Cash and Non-Interest-Bearing Accounts$462,483$507,627▲ $45,144
Accounts Receivable$46,310$50,281▲ $3,971
Total Assets$11,332,053$11,212,428▼ $119,625
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,367,662--
Tax Exempt Bond Liabilities-$12,231,459-
Accounts Payable and Accrued Expenses$564,021$556,770▼ $7,251
Total Liabilities$12,931,683$12,788,229▼ $143,454
Net Assets / Fund Balance
Unrestricted Net Assets$-1,599,630$-1,575,801▲ $23,829
Total Net Assets Fund Balance$-1,599,630$-1,575,801▲ $23,829
Total Liabilities and Net Assets / Fund Balance$11,332,053$11,212,428▼ $119,625

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,963,152$2,086,044-
Land$1,562,000--
Equipment$244,181$231,966-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Keith FacerBoard Chair
Alana WilsonBoard Member
Judy NixonBoard Member
Natalie AllmanBoard Member
Paul SmithBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Academica WestManagement Services290 N FLINT STREET, Kaysville, UT 84037$209,200
Revenue and Support

Revenue Composition

Contributions and Grants
$4,056,061
Program Service Revenue
$144,133
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$23,829

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,200,194
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,200,194
Total Revenue per Form 990
$4,200,194
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,176,365
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$720,977--$720,977
Depreciation Depletion$277,792--$277,792
Fees for Services Management$11,114$209,737-$220,851
All Other Expenses$199,375$4,439-$203,814
Fees for Services Other$134,879$79-$134,958
Other Expenses$116,659$23,410-$116,659
Advertising-$17,883-$17,883
Insurance-$16,650-$16,650
Travel$777$152-$929
Total Functional Expenses$3,711,136$465,229$0$4,176,365

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,176,365
Total Expenses per Audited Statements$4,176,365
Total Expenses per Form 990$4,176,365
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AUtah State Charter School Finance Authority2017-10-23$12,970,000Refinance of building debt

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$12,970,000--$460,200

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
Annual disclosure for covered persons
No
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
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 tax return is reviewed by the board, compared with the financial statements, then signed and submitted to the irs.

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

Conflicts of interest, if any, are discussed in monthly board meetings.

Form 990, Part VI, Section B, Line 15A

Director's salary is determined by the board based on experience and compensation at similarly sized charter schools.

Form 990, Part VI, Section C, Line 19

Documents required to be available for public inspection are available to the public upon request during regular business hours of the organization.

Form 990, Part VI, Section C, Line 18

Form 990 is available, upon request, during regular business hours of the organization.

Filing and Contact Details

Filer

Filer Name
Jefferson Academy
EIN
26-2546736
Phone
8015938200
Address
1425 S ANGEL STREET, KAYSVILLE, UT 84037

Signing Officer

Name
Keith Facer
Title
Board President
Phone
8015938200
Signed
2020-04-27

Organization Details

Principal Officer
Keith Facer
Formed
2008
Legal Domicile
Ut
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

FORM 990, PART V, LINE 2B:

All payroll related expenses are paid by helpside, inc. (ein: 84-1374112). As such, helpside submits payroll tax filings under their employer tax identification number for all withholding and payroll activity.

FORM 990, PART XII, LINE 2C:

The board of directors votes on an audit committee. Committee members are reviewed annually and modified as needed.

Financial Statement Notes

PART X, LINE 2:

The organization believes it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions material to the financial statements. The organization would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.

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IRS990ScheduleE/MaintainCpyOfAllSolInd00
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A STATE FUNDED CHARTER SCHOOL AND THUS FOLLOWS ALL FEDERAL AND STATE NONDISCRIMINATION POLICIES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS STATE FUNDED AND DOES NOT SOLICIT DONATIONS OR CONTRIBUTIONS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02017-10-23
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0261275269
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum0NONEAVAIL
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt012970000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0UTAH STATE CHARTER SCHOOL FINANCE AUTHORITY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0REFINANCE OF BUILDING DEBT
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt012571583
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt01098400
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0460200
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02017
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt012970000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL PAYROLL RELATED EXPENSES ARE PAID BY HELPSIDE, INC. (EIN: 84-1374112). AS SUCH, HELPSIDE SUBMITS PAYROLL TAX FILINGS UNDER THEIR EMPLOYER TAX IDENTIFICATION NUMBER FOR ALL WITHHOLDING AND PAYROLL ACTIVITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TAX RETURN IS REVIEWED BY THE BOARD, COMPARED WITH THE FINANCIAL STATEMENTS, THEN SIGNED AND SUBMITTED TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICTS OF INTEREST, IF ANY, ARE DISCUSSED IN MONTHLY BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTOR'S SALARY IS DETERMINED BY THE BOARD BASED ON EXPERIENCE AND COMPENSATION AT SIMILARLY SIZED CHARTER SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS REQUIRED TO BE AVAILABLE FOR PUBLIC INSPECTION ARE AVAILABLE TO THE PUBLIC UPON REQUEST DURING REGULAR BUSINESS HOURS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FORM 990 IS AVAILABLE, UPON REQUEST, DURING REGULAR BUSINESS HOURS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS VOTES ON AN AUDIT COMMITTEE. COMMITTEE MEMBERS ARE REVIEWED ANNUALLY AND MODIFIED AS NEEDED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V, LINE 2B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt012231459
IRS990/TaxExemptBondsInd01
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt011332053
IRS990/TotalAssetsEOYAmt011212428
IRS990/TotalAssetsGrp/BOYAmt011332053
IRS990/TotalAssetsGrp/EOYAmt011212428
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt04056061
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0465229
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03711136
IRS990/TotalFunctionalExpensesGrp/TotalAmt04176365
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012931683
IRS990/TotalLiabilitiesEOYAmt012788229
IRS990/TotalLiabilitiesGrp/BOYAmt012931683
IRS990/TotalLiabilitiesGrp/EOYAmt012788229
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1599630
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1575801
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03711136
IRS990/TotalProgramServiceRevenueAmt0144133
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0144133
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04200194
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011332053
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011212428
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0152
IRS990/TravelGrp/ProgramServicesAmt0777
IRS990/TravelGrp/TotalAmt0929
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1599630
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1575801
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01425 S ANGEL STREET
IRS990/USAddress/CityNm0KAYSVILLE
IRS990/USAddress/StateAbbreviationCd0UT
IRS990/USAddress/ZIPCd084037
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.JEFFERSONACADEMY.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KEITH FACER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08015938200
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0JEFFERSON ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0JEFF
ReturnHeader/Filer/EIN0262546736
ReturnHeader/Filer/PhoneNum08015938200
ReturnHeader/Filer/USAddress/AddressLine1Txt01425 S ANGEL STREET
ReturnHeader/Filer/USAddress/CityNm0KAYSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0UT

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