Civic Intelligence

Four Lakes Education Inc.

990 • Fiscal year 2015 • EIN 26-4055721

Jul 01, 2014 to Jun 30, 2015 • Filed on Apr 22, 2016

Organization ProfileWWW.K12.COM/WIVA
4709 Dale-curtin DriveMcfarland, WI 53558

(608) 838-9482

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.99x

Higher debt load relative to assets than 92% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

82nd percentile

1.21x

Higher debt load relative to revenue than 82% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

34th percentile

-0.1%

Higher net margin than 34% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

77th percentile

11%

Faster asset growth than 77% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

40th percentile

0.6%

Faster revenue growth than 40% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$15,414,710

Up $1,524,581 (+11%) from 2014

Net Assets

Down

$96,111

Down $125,062 (-57%) from 2014

Liabilities

Up

$15,318,599

Up $1,649,643 (+12%) from 2014

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin34th percentile

Revenue

Up

$12,680,859

Up $79,519 (+0.6%) from 2014

Expenses

Up

$12,692,655

Up $246,110 (+2.0%) from 2014

Net Income

Down

-$11,796

Down $166,591 (-108%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$30M$20M$10M$0Assets 2011: $566,263Liabilities 2011: $566,263Net Assets 2011: $02011Assets 2012: $3,944,551Liabilities 2012: $3,878,173Net Assets 2012: $66,3782012Assets 2013: $7,391,412Liabilities 2013: $7,325,034Net Assets 2013: $66,3782013Assets 2014: $13,890,129Liabilities 2014: $13,668,956Net Assets 2014: $221,1732014Assets 2015: $15,414,710Liabilities 2015: $15,318,599Net Assets 2015: $96,1112015Assets 2016: $13,595,934Liabilities 2016: $13,595,934Net Assets 2016: $02016Assets 2017: $16,049,750Liabilities 2017: $15,853,885Net Assets 2017: $195,8652017Assets 2018: $15,983,036Liabilities 2018: $15,031,177Net Assets 2018: $951,8592018Assets 2019: $10,634,209Liabilities 2019: $8,481,327Net Assets 2019: $2,152,8822019Assets 2020: $14,327,379Liabilities 2020: $10,532,089Net Assets 2020: $3,795,2902020Assets 2021: $20,219,187Liabilities 2021: $12,882,029Net Assets 2021: $7,337,1582021Assets 2022: $19,510,761Liabilities 2022: $12,420,041Net Assets 2022: $7,090,7202022Assets 2023: $21,174,145Liabilities 2023: $15,196,692Net Assets 2023: $5,977,4532023Assets 2024: $17,140,056Liabilities 2024: $13,748,626Net Assets 2024: $3,391,4302024

Highlighted filing

2015

Assets$15,414,710
Liabilities$15,318,599
Net Assets$96,111
Open 2015 Filing

Operations Trend

Revenue Growth40th percentile

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

$60M$40M$20M$0-$20MExpenses 2011: $4,836,8872011Expenses 2012: $6,594,6082012Expenses 2013: $11,909,1782013Revenue 2014: $12,601,340Expenses 2014: $12,446,545Net Income 2014: $154,7952014Revenue 2015: $12,680,859Expenses 2015: $12,692,655Net Income 2015: -$11,7962015Revenue 2016: $12,941,686Expenses 2016: $13,037,797Net Income 2016: -$96,1112016Revenue 2017: $14,891,642Expenses 2017: $14,695,777Net Income 2017: $195,8652017Revenue 2018: $15,524,388Expenses 2018: $14,768,394Net Income 2018: $755,9942018Revenue 2019: $18,143,516Expenses 2019: $16,942,493Net Income 2019: $1,201,0232019Revenue 2020: $24,187,699Expenses 2020: $22,545,291Net Income 2020: $1,642,4082020Revenue 2021: $36,128,677Expenses 2021: $32,586,809Net Income 2021: $3,541,8682021Revenue 2022: $31,025,737Expenses 2022: $31,272,175Net Income 2022: -$246,4382022Revenue 2023: $35,963,192Expenses 2023: $37,076,459Net Income 2023: -$1,113,2672023Revenue 2024: $39,649,168Expenses 2024: $42,235,191Net Income 2024: -$2,586,0232024

Highlighted filing

2015

Revenue$12,680,859
Expenses$12,692,655
Net Income-$11,796
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Apr 22, 2016
Return Version
2014v6.0
Gross Receipts
$12,680,859
Mission and Program Overview

Mission

Provide public charter school education.

Education - charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$13,225,612$14,950,419▲ $1,724,807
Accounts Receivable$651,497$450,312▼ $201,185
Land, Buildings, and Equipment, Net$4,709$7,988▲ $3,279
Prepaid Expenses and Deferred Charges$8,311$5,991▼ $2,320
Total Assets$13,890,129$15,414,710▲ $1,524,581
Liabilities
Accounts Payable and Accrued Expenses$13,668,956$15,318,599▲ $1,649,643
Total Liabilities$13,668,956$15,318,599▲ $1,649,643
Net Assets / Fund Balance
Unrestricted Net Assets$221,173$96,111▼ $125,062
Total Net Assets Fund Balance$221,173$96,111▼ $125,062
Total Liabilities and Net Assets / Fund Balance$13,890,129$15,414,710▲ $1,524,581

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,988$60,607$68,595
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Jerry DeschanePresident
David SachsMember
Dean GilleMember
Deborah JordahlMember
Christopher GreenSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
K12 Management INCEducational Products & Mgmt Services2300 CORPORATE PARK DRIVE SUITE 20, Herndon, VA 20171$2,843,261
Devon Health CareSpecial Education ServicesPO BOX 577, West Bend, WI 53095-0577$103,395
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,667,937
Investment Income
$0
Other Revenue
$12,922
Change in Net Assets
$-11,796

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,680,859
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$12,680,859
Total Revenue per Form 990
$12,680,859
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,310,099
Salaries, Compensation, and Employee Benefits$3,382,556
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,565,796--$2,565,796
Fees for Services Management-$2,491,137-$2,491,137
Information Technology$887,340--$887,340
Other Employee Benefits$816,760--$816,760
Fees for Services Other$127,337$572-$127,909
Office Expenses$36,171$70,101-$106,272
All Other Expenses$85,149--$85,149
Travel$48,359--$48,359
Other Expenses$45,309$9,182-$45,309
Occupancy-$35,606-$35,606
Insurance-$32,036-$32,036
Fees for Services Legal-$13,313-$13,313
Fees for Services Accounting-$9,600-$9,600
Conferences and Meetings$5,785--$5,785
Depreciation Depletion-$4,484-$4,484
Total Functional Expenses$10,026,624$2,666,031$0$12,692,655

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,692,655
Total Expenses per Audited Statements$12,692,655
Total Expenses per Form 990$12,692,655
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Management is primarily conducted by k12 managment inc., a company that provides virtual school curriculum and management to organizations throughout the united states.”

Form 990, Part VI, Section B, Line 11

“Head of school reviews the form 990 and related schedules, then compares the information with the accounting records and other organization data before filing.”

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

“Head of school monitors daily compliance through oversight. Board monitors management compliance through oversight.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, policies, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Four Lakes Education Inc
EIN
26-4055721
Phone
6088389482
Address
4709 DALE-CURTIN DRIVE, MCFARLAND, WI 53558
Doing Business As
Wisconsin Virtual Academy

Signing Officer

Name
Nicholaus D Sutherland Med
Title
Head of School
Phone
6088389482
Signed
2016-04-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicholaus D Sutherland
Formed
2009
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Smith & Gesteland Llp
Address
PO BOX 1764, MADISON, WI 53701
Preparer
Keith H Baumgartner
Phone
6088367500
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 2A & B

“All employees are leased from insperity peo services lp (an unrelated professional employer organization). Insperity submits all applicable taxes and returns under the insperity fein.”

Raw XML Appendix387 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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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt04236875
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt047360007
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt012922
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt04415
IRS990ScheduleA/OtherIncome509Grp/TotalAmt017337
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99960
IRS990ScheduleA/PublicSupportTotal509Amt047360007
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt012667937
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt012601340
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt011909178
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt05944677
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt04236875
IRS990ScheduleA/Total509Grp/TotalAmt047360007
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt012680859
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt012601340
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt011909178
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt05949092
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt04236875
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt047377344
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt07988
IRS990ScheduleD/EquipmentGrp/DepreciationAmt060607
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt068595
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt012692655
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt012680859
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07988
IRS990ScheduleD/TotalExpensesPerForm990Amt012692655
IRS990ScheduleD/TotalRevenuePerForm990Amt012680859
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012680859
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt012692655
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL EMPLOYEES ARE LEASED FROM INSPERITY PEO SERVICES LP (AN UNRELATED PROFESSIONAL EMPLOYER ORGANIZATION). INSPERITY SUBMITS ALL APPLICABLE TAXES AND RETURNS UNDER THE INSPERITY FEIN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT IS PRIMARILY CONDUCTED BY K12 MANAGMENT INC., A COMPANY THAT PROVIDES VIRTUAL SCHOOL CURRICULUM AND MANAGEMENT TO ORGANIZATIONS THROUGHOUT THE UNITED STATES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HEAD OF SCHOOL REVIEWS THE FORM 990 AND RELATED SCHEDULES, THEN COMPARES THE INFORMATION WITH THE ACCOUNTING RECORDS AND OTHER ORGANIZATION DATA BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3HEAD OF SCHOOL MONITORS DAILY COMPLIANCE THROUGH OVERSIGHT. BOARD MONITORS MANAGEMENT COMPLIANCE THROUGH OVERSIGHT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V, LINE 2A & B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt013890129
IRS990/TotalAssetsEOYAmt015414710
IRS990/TotalAssetsGrp/BOYAmt013890129
IRS990/TotalAssetsGrp/EOYAmt015414710
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02666031
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt010026624
IRS990/TotalFunctionalExpensesGrp/TotalAmt012692655
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013668956
IRS990/TotalLiabilitiesEOYAmt015318599
IRS990/TotalLiabilitiesGrp/BOYAmt013668956
IRS990/TotalLiabilitiesGrp/EOYAmt015318599
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0221173
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IRS990/TotalProgramServiceRevenueAmt012667937
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt012680859
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt013890129
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt015414710
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt048359
IRS990/TravelGrp/TotalAmt048359
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0221173
IRS990/UnrestrictedNetAssetsGrp/EOYAmt096111
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04709 DALE-CURTIN DRIVE
IRS990/USAddress/CityNm0MCFARLAND
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053558
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.K12.COM/WIVA
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NICHOLAUS D SUTHERLAND MED
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEAD OF SCHOOL
ReturnHeader/BusinessOfficerGrp/PhoneNum06088389482
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-04-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUR LAKES EDUCATION INC
ReturnHeader/Filer/BusinessNameControlTxt0FOUR
ReturnHeader/Filer/EIN0264055721
ReturnHeader/Filer/PhoneNum06088389482
ReturnHeader/Filer/USAddress/AddressLine1Txt04709 DALE-CURTIN DRIVE
ReturnHeader/Filer/USAddress/CityNm0MCFARLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053558
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390857178
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SMITH & GESTELAND LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1764
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MADISON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd053701
ReturnHeader/PreparerPersonGrp/PhoneNum06088367500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KEITH H BAUMGARTNER
ReturnHeader/ReturnTs02016-05-05T08:09:07-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,414,710
Liabilities
$15,318,599
Net assets
$96,111
Revenue
$12,680,859
Expenses
$12,692,655
Net income
-$11,796
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$17.1$13.7$3.39$39.6$42.2$2.59
2023Detailed filing. Detailed filing data is available for this year.$21.2$15.2$5.98$36.0$37.1$1.11
2022Detailed filing. Detailed filing data is available for this year.$19.5$12.4$7.09$31.0$31.3$0.25
2021Detailed filing. Detailed filing data is available for this year.$20.2$12.9$7.34$36.1$32.6$3.54
2020Detailed filing. Detailed filing data is available for this year.$14.3$10.5$3.80$24.2$22.5$1.64
2019Detailed filing. Detailed filing data is available for this year.$10.6$8.48$2.15$18.1$16.9$1.20
2018Detailed filing. Detailed filing data is available for this year.$16.0$15.0$0.95$15.5$14.8$0.76
2017Detailed filing. Detailed filing data is available for this year.$16.0$15.9$0.20$14.9$14.7$0.20
2016Detailed filing. Detailed filing data is available for this year.$13.6$13.6$0.00$12.9$13.0$0.10
2015Detailed filing. Detailed filing data is available for this year.$15.4$15.3$0.10$12.7$12.7$0.01
2014Detailed filing. Detailed filing data is available for this year.$13.9$13.7$0.22$12.6$12.4$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.39$7.33$0.07$11.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.94$3.88$0.07$6.59
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.57$0.00$4.84