Civic Intelligence

Knova Learning Oregon Knova Reynolds Public Charter School

990 • Fiscal year 2018 • EIN 26-4822611

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 01, 2018

740 SE 182nd AvePortland, OR 97223

(503) 708-9687

Siviq Scores

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

Liabilities / Assets

99th percentile

2.37x

Higher debt load relative to assets than 99% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

84th percentile

0.83x

Higher debt load relative to revenue than 84% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

27th percentile

-5.3%

Higher net margin than 27% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

69th percentile

$101,160

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

3rd percentile

-38%

Faster asset growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

19th percentile

-13%

Faster revenue growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$955,623

Down $579,573 (-38%) from 2017

Net Assets

Down

-$1,312,912

Down $146,133 (-13%) from 2017

Liabilities

Down

$2,268,535

Down $433,440 (-16%) from 2017

Revenue

Down

$2,739,034

Down $412,167 (-13%) from 2017

Expenses

Down

$2,885,167

Down $50,983 (-1.7%) from 2017

Net Income

Down

-$146,133

Down $361,184 (-168%) from 2017

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2013: $895,390Liabilities 2013: $1,189,181Net Assets 2013: -$293,7912013Assets 2014: $466,360Liabilities 2014: $878,624Net Assets 2014: -$412,2642014Assets 2015: $695,942Liabilities 2015: $1,209,802Net Assets 2015: -$513,8602015Assets 2016: $458,533Liabilities 2016: $1,840,363Net Assets 2016: -$1,381,8302016Assets 2017: $1,535,196Liabilities 2017: $2,701,975Net Assets 2017: -$1,166,7792017Assets 2018: $955,623Liabilities 2018: $2,268,535Net Assets 2018: -$1,312,9122018Assets 2019: $1,447,909Liabilities 2019: $2,374,537Net Assets 2019: -$926,6282019Assets 2020: $1,880,053Liabilities 2020: $2,867,707Net Assets 2020: -$987,6542020Assets 2021: $2,675,640Liabilities 2021: $2,865,940Net Assets 2021: -$190,3002021Assets 2022: $6,407,195Liabilities 2022: $6,158,350Net Assets 2022: $248,8452022Assets 2023: $7,958,166Liabilities 2023: $6,533,161Net Assets 2023: $1,425,0052023Assets 2024: $8,194,578Liabilities 2024: $6,214,017Net Assets 2024: $1,980,5612024

Highlighted filing

2018

Assets$955,623
Liabilities$2,268,535
Net Assets-$1,312,912

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2013: $2,061,5262013Revenue 2014: $2,736,274Expenses 2014: $2,854,747Net Income 2014: -$118,4732014Revenue 2015: $2,730,667Expenses 2015: $2,201,221Net Income 2015: $529,4462015Revenue 2016: $2,950,104Expenses 2016: $3,801,583Net Income 2016: -$851,4792016Revenue 2017: $3,151,201Expenses 2017: $2,936,150Net Income 2017: $215,0512017Revenue 2018: $2,739,034Expenses 2018: $2,885,167Net Income 2018: -$146,1332018Revenue 2019: $3,075,388Expenses 2019: $2,689,104Net Income 2019: $386,2842019Revenue 2020: $2,798,728Expenses 2020: $2,859,754Net Income 2020: -$61,0262020Revenue 2021: $3,436,072Expenses 2021: $2,652,188Net Income 2021: $783,8842021Revenue 2022: $3,314,708Expenses 2022: $2,875,563Net Income 2022: $439,1452022Revenue 2023: $7,647,357Expenses 2023: $6,471,197Net Income 2023: $1,176,1602023Revenue 2024: $5,913,073Expenses 2024: $5,357,517Net Income 2024: $555,5562024

Highlighted filing

2018

Revenue$2,739,034
Expenses$2,885,167
Net Income-$146,133
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 1, 2018
Return Version
2017v2.2
Gross Receipts
$2,739,034
Mission and Program Overview

Mission

Operation of a public charter school.

Operation of a charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$60,427$62,019▲ $1,592
Cash and Non-Interest-Bearing Accounts$217,752$48,742▼ $169,010
Accounts Receivable$22,899$43,309▲ $20,410
Savings and Temporary Cash Investments$34,542$34,514▼ $28
Total Assets$1,535,196$955,623▼ $579,573
Other Assets Total$1,199,576$767,039▼ $432,537
Liabilities
Other Liabilities$2,374,307$2,027,390▼ $346,917
Unsecured Notes Loans Payable$198,586--
Accounts Payable and Accrued Expenses$129,082$137,842▲ $8,760
Mortgage Notes Payable Secured by Investment Property-$103,303-
Total Liabilities$2,701,975$2,268,535▼ $433,440
Net Assets / Fund Balance
Unrestricted Net Assets$-1,166,779$-1,312,912▼ $146,133
Total Net Assets Fund Balance$-1,166,779$-1,312,912▼ $146,133
Total Liabilities and Net Assets / Fund Balance$1,535,196$955,623▼ $579,573

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$77,322$77,322
Other Assets Org$767,039--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Arielle HammondPrincipalFT$74,729$26,431$101,160
John NelsonExecutive DirectorFT$50,945$14,198$65,143

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,614,586
Program Service Revenue
$87,710
Investment Income
$0
Other Revenue
$36,738
Change in Net Assets
$-146,133

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,739,034
Total Revenue per Audited Statements
$2,739,034
Total Revenue per Form 990
$2,739,034
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,692,394
Other Expenses$1,192,773
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$729,497$231,173-$960,670
Occupancy-$476,175-$476,175
Pension Plan Contributions$229,467$84,296-$313,763
Current Officers, Directors, Trustees, and Key Employees-$180,691-$180,691
Other Employee Benefits$98,882$28,315-$127,197
Payroll Taxes$75,813$34,260-$110,073
Fees for Services Other$33,974$20,177-$54,151
Office Expenses-$51,509-$51,509
Fees for Services Accounting-$46,994-$46,994
Information Technology-$24,688-$24,688
Other Expenses$75,884$24,307-$24,307
Insurance-$19,511-$19,511
All Other Expenses$9,594$5,863-$15,457
Interest-$12,494-$12,494
Fees for Services Legal-$8,264-$8,264
Advertising-$7,003-$7,003
Travel-$1,881-$1,881
Total Functional Expenses$1,449,579$1,435,588$0$2,885,167

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,885,167
Total Expenses per Audited Statements$2,885,167
Total Expenses per Form 990$2,885,167
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
ExaltDual TdokesPaying Off LoanNo$107,419
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$1,702,048
Pension Related Deferrals$325,342
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
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
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

Two of the board members are senior executives of knova learnings largest lendor, exalt.

Committee meeting documentation Part VI line 8B

The governing body did not delegate authority to act on its behalf to an executive committee or similar committee ay any time during the organizations tax year.

Form 990 governing body review Part VI line 11

A copy of the draft of the 990 is available for all voting members of the board to review between three to five business days before it is signed and submitted to the internal revenue service. Each board member is notified and an electronic copy is available upon request.

Governing documents etc available to public Part VI line 19

The organizations governing documents, conflict of interest policy, and financial statements are generally not available to the public.

Filing and Contact Details

Filer

Filer Name
Knova Learning Oregon
EIN
26-4822611
Address
740 SE 182ND AVE, Portland, OR 97223
Doing Business As
Knova Reynolds Public Charter

Signing Officer

Name
Jerry Fladoos
Title
Board Chair
Phone
5039071023
Signed
2018-11-01
Discuss with paid preparer
No

Organization Details

Principal Officer
Jerry Fladoos
Formed
2009
Legal Domicile
Or
Voting Board Members
7
Independent Board Members
7
Employees
56
Volunteers
35

Preparer

Firm
Pauly Rogers and Co Pc
Address
12700 SW 72ND AVE, Portland, OR 97223
Preparer
Roy R Rogers
Phone
5036202632
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL RECEIVED ASSISTANCE FROM THE STATE DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1KNOVA LEARNING SCHOOL HAS A HANDBOOK THAT THEY HAND OUT AT REGISTRATION AND TO THE GENERAL PUBLIC AT TIME OF INQUIRY.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Governmental Agency Financial Aid (Questions 6a and 6b)
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY DID NOT DELEGATE AUTHORITY TO ACT ON ITS BEHALF TO AN EXECUTIVE COMMITTEE OR SIMILAR COMMITTEE AY ANY TIME DURING THE ORGANIZATIONS TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE DRAFT OF THE 990 IS AVAILABLE FOR ALL VOTING MEMBERS OF THE BOARD TO REVIEW BETWEEN THREE TO FIVE BUSINESS DAYS BEFORE IT IS SIGNED AND SUBMITTED TO THE INTERNAL REVENUE SERVICE. EACH BOARD MEMBER IS NOTIFIED AND AN ELECTRONIC COPY IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATIONS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE GENERALLY NOT AVAILABLE TO THE PUBLIC.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Committee meeting documentation Part VI line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-01
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