Civic Intelligence

Collegespring Inc.

990 • Fiscal year 2017 • EIN 27-0920698

Oct 01, 2016 to Sep 30, 2017 • Filed on Feb 08, 2018

1333 BroadwayOakland, CA 94612

(415) 230-0640

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.20x

Higher debt load relative to assets than 63% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

54th percentile

0.12x

Higher debt load relative to revenue than 54% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

68th percentile

11%

Higher net margin than 68% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

83rd percentile

$144,045

Higher top officer pay than 83% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

87th percentile

33%

Faster asset growth than 87% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

23rd percentile

-7.8%

Faster revenue growth than 23% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$2,370,162

Up $582,649 (+33%) from 2016

Net Assets

Up

$1,899,255

Up $549,057 (+41%) from 2016

Liabilities

Up

$470,907

Up $33,592 (+7.7%) from 2016

Revenue

Down

$3,857,604

Down $324,215 (-7.8%) from 2016

Expenses

Up

$3,429,359

Up $214,128 (+6.7%) from 2016

Net Income

Down

$428,245

Down $538,343 (-56%) from 2016

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2014: $968,931Liabilities 2014: $316,424Net Assets 2014: $652,5072014Assets 2015: $761,253Liabilities 2015: $377,643Net Assets 2015: $383,6102015Assets 2016: $1,787,513Liabilities 2016: $437,315Net Assets 2016: $1,350,1982016Assets 2017: $2,370,162Liabilities 2017: $470,907Net Assets 2017: $1,899,2552017Assets 2019: $2,224,164Liabilities 2019: $269,391Net Assets 2019: $1,954,7732019Assets 2021: $3,027,501Liabilities 2021: $264,124Net Assets 2021: $2,763,3772021Assets 2024: $2,676,266Liabilities 2024: $192,060Net Assets 2024: $2,484,2062024

Highlighted filing

2017

Assets$2,370,162
Liabilities$470,907
Net Assets$1,899,255

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $3,335,859Expenses 2014: $3,099,181Net Income 2014: $236,6782014Revenue 2015: $2,876,465Expenses 2015: $3,145,362Net Income 2015: -$268,8972015Revenue 2016: $4,181,819Expenses 2016: $3,215,231Net Income 2016: $966,5882016Revenue 2017: $3,857,604Expenses 2017: $3,429,359Net Income 2017: $428,2452017Revenue 2019: $4,286,309Expenses 2019: $3,977,776Net Income 2019: $308,5332019Revenue 2021: $2,763,117Expenses 2021: $2,563,396Net Income 2021: $199,7212021Revenue 2024: $2,624,939Expenses 2024: $3,196,529Net Income 2024: -$571,5902024

Highlighted filing

2017

Revenue$3,857,604
Expenses$3,429,359
Net Income$428,245
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Feb 8, 2018
Return Version
2016v3.0
Gross Receipts
$3,857,604
Mission and Program Overview

Mission

To narrow the college opportunity gap by offering a high-quality sat and college preparation program that lifts the aspirations and outcomes of low-income students and empowers them to act as beacons of what is possible for their communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,084,739$1,204,610▲ $119,871
Cash and Non-Interest-Bearing Accounts$534,845$535,950▲ $1,105
Savings and Temporary Cash Investments$49,535$467,184▲ $417,649
Accounts Receivable$76,958$107,176▲ $30,218
Prepaid Expenses and Deferred Charges$25,237$42,978▲ $17,741
Land, Buildings, and Equipment, Net$3,432$1,163▼ $2,269
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,787,513$2,370,162▲ $582,649
Other Assets Total$12,767$11,101▼ $1,666
Liabilities
Accounts Payable and Accrued Expenses$211,980$260,783▲ $48,803
Deferred Revenue$225,335$210,124▼ $15,211
Total Liabilities$437,315$470,907▲ $33,592
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,542,162$1,642,745▲ $100,583
Unrestricted Net Assets$-191,964$256,510▲ $448,474
Total Net Assets Fund Balance$1,350,198$1,899,255▲ $549,057
Total Liabilities and Net Assets / Fund Balance$1,787,513$2,370,162▲ $582,649

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$29,311$29,311
Other Land Buildings$1,163$5,798$6,961
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Garrett NeimanDirectorFT$144,045$144,045
Melissa H SilbermanSenior VPFT$103,701$103,701
Matthew AguiarCOOFT$76,754$76,754

Board Members and Trustees

NameTitle
Thomas FrielChairman
Alex TermanDirector
Avi DorfmanDirector
Julissa ArceDirector
Larry KubalDirector
Paul MartinoDirector
Ralph SuttonDirector
Todd PennerDirector
Yoon ChoiCEO
Mindy RogersSec and Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$2,866,008
Program Service Revenue
$984,615
Investment Income
$198
Other Revenue
$6,783
All Other Contributions
$2,866,008
Change in Net Assets
$428,245

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,857,604
Revenue Not Reported on Form 990
$120,812
Total Revenue per Audited Statements
$3,978,416
Total Revenue per Form 990
$3,857,604
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,345,248
Other Expenses$1,084,111
Total Fundraising Expense$697,196
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,295,850$100,412$390,953$1,787,215
Fees for Services Other$114,123$155,219$78,459$347,801
Current Officers, Directors, Trustees, and Key Employees$88,320$44,160$88,319$220,799
Other Employee Benefits$116,121$10,104$48,869$175,094
Payroll Taxes$110,188$18,006$33,946$162,140
Travel$119,532$17,110$20,569$157,211
Fees for Services Legal$106,884$13,308-$120,192
Occupancy$86,145$17,509$12,500$116,154
Fees for Services Accounting-$40,599-$40,599
Other Expenses$24,702$5,733$1,642$32,077
Insurance$5,397$784$1,826$8,007
Depreciation Depletion-$204$2,064$2,268
All Other Expenses$299$1,623-$1,922
Total Functional Expenses$2,281,282$450,881$697,196$3,429,359

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,550,171
Expenses per Audited Statements$3,429,359
Total Expenses per Form 990$3,429,359
Expenses Not Reported on Form 990$120,812
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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, Line 11B: Form 990 Review Process

The Board of Directors and officers of COLLEGESPRING, INC. will review and approve the Form 990 before it is filed.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

A formal review is done by the Board.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing documents, policies, and financial statements will be provided upon request.

Filing and Contact Details

Filer

Filer Name
Collegespring Inc
EIN
27-0920698
Phone
4152300640
Address
1333 BROADWAY, OAKLAND, CA 94612

Signing Officer

Name
Yoon Choi
Title
CEO
Signed
2018-02-08
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
CA
Voting Board Members
10
Independent Board Members
10
Employees
313

Preparer

Firm
Pfahnl & Hunt Accountancy Corp
Address
333 W Santa Clara St 900, San Jose, CA 95113
Preparer
Joseph W Pfahnl
Phone
4089939494
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Generally accepted accounting principles provide accounting and disclosure guidance about positions taken by an entity in its tax returns that might be uncertain. Management has considered its tax positions and believes that all of the positions taken in its federal and state exempt organization tax returns are more likely than not to be sustained upon examination. The organization's returns are subject to examination by the federal and state taxing authorities, generally for three and four years, respectively, after they are filed.

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