Civic Intelligence

Living Stones Academy

990 • Fiscal year 2020 • EIN 27-1110309

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

Organization ProfileWWW.LIVINGSTONESGR.ORG
1415 Lyon NEGrand Rapids, MI 49503

(616) 803-9654

Siviq Scores

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

Liabilities / Assets

56th percentile

0.14x

Higher debt load relative to assets than 56% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

61st percentile

0.22x

Higher debt load relative to revenue than 61% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

44th percentile

2.8%

Higher net margin than 44% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

62nd percentile

12%

Faster asset growth than 62% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

77th percentile

24%

Faster revenue growth than 77% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$2,174,108

Up $235,016 (+12%) from 2019

Net Assets

Up

$1,864,064

Up $40,070 (+2.2%) from 2019

Liabilities

Up

$310,044

Up $194,946 (+169%) from 2019

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin44th percentile

Revenue

Up

$1,411,567

Up $269,899 (+24%) from 2019

Expenses

Up

$1,371,497

Up $228,399 (+20%) from 2019

Net Income

Up

$40,070

Up $41,500 (+2902%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $34,446Liabilities 2011: $5,417Net Assets 2011: $29,0292011Assets 2012: $9,943Liabilities 2012: $10,877Net Assets 2012: -$9342012Assets 2013: $18,811Liabilities 2013: $9,233Net Assets 2013: $9,5782013Assets 2015: $564,949Liabilities 2015: $576,682Net Assets 2015: -$11,7332015Assets 2016: $632,463Liabilities 2016: $604,670Net Assets 2016: $27,7932016Assets 2017: $1,273,447Liabilities 2017: $150,128Net Assets 2017: $1,123,3192017Assets 2018: $1,942,478Liabilities 2018: $117,054Net Assets 2018: $1,825,4242018Assets 2019: $1,939,092Liabilities 2019: $115,098Net Assets 2019: $1,823,9942019Assets 2020: $2,174,108Liabilities 2020: $310,044Net Assets 2020: $1,864,0642020Assets 2021: $3,554,647Liabilities 2021: $195,047Net Assets 2021: $3,359,6002021Assets 2022: $4,698,370Liabilities 2022: $65,019Net Assets 2022: $4,633,3512022Assets 2023: $7,064,549Liabilities 2023: $189,999Net Assets 2023: $6,874,5502023Assets 2024: $7,214,307Liabilities 2024: $243,015Net Assets 2024: $6,971,2922024

Highlighted filing

2020

Assets$2,174,108
Liabilities$310,044
Net Assets$1,864,064
Open 2020 Filing

Operations Trend

Revenue Growth77th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $308,1372011Expenses 2012: $435,1572012Revenue 2013: $490,521Expenses 2013: $480,013Net Income 2013: $10,5082013Revenue 2015: $622,423Expenses 2015: $676,367Net Income 2015: -$53,9442015Revenue 2016: $724,905Expenses 2016: $685,379Net Income 2016: $39,5262016Revenue 2017: $1,986,379Expenses 2017: $890,853Net Income 2017: $1,095,5262017Revenue 2018: $1,658,125Expenses 2018: $956,020Net Income 2018: $702,1052018Revenue 2019: $1,141,668Expenses 2019: $1,143,098Net Income 2019: -$1,4302019Revenue 2020: $1,411,567Expenses 2020: $1,371,497Net Income 2020: $40,0702020Revenue 2021: $3,075,271Expenses 2021: $1,579,735Net Income 2021: $1,495,5362021Revenue 2022: $3,153,836Expenses 2022: $1,880,084Net Income 2022: $1,273,7522022Revenue 2023: $4,443,123Expenses 2023: $2,176,924Net Income 2023: $2,266,1992023Revenue 2024: $2,566,313Expenses 2024: $2,469,571Net Income 2024: $96,7422024

Highlighted filing

2020

Revenue$1,411,567
Expenses$1,371,497
Net Income$40,070
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.1
Gross Receipts
$1,411,567
Mission and Program Overview

Mission

To be an accessible, faith-based, neighborhood school that strives to work together as a community to provide a transformational education for children in grades pk-6 with an emphasis on academic achievement and a goal to reflect the racial and socioeconomic diversity of the city

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$866,630$1,189,585▲ $322,955
Land, Buildings, and Equipment, Net$993,448$955,641▼ $37,807
Prepaid Expenses and Deferred Charges$13,223$15,572▲ $2,349
Pledges and Grants Receivable$62,866$11,650▼ $51,216
Accounts Receivable$2,925$1,660▼ $1,265
Total Assets$1,939,092$2,174,108▲ $235,016
Liabilities
Unsecured Notes Loans Payable-$169,700-
Other Liabilities$79,682$107,708▲ $28,026
Deferred Revenue$27,040$26,336▼ $704
Accounts Payable and Accrued Expenses$8,376$6,300▼ $2,076
Total Liabilities$115,098$310,044▲ $194,946
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,148,135$1,093,900▼ $54,235
Net Assets With Donor Restrictions$675,859$770,164▲ $94,305
Total Net Assets Fund Balance$1,823,994$1,864,064▲ $40,070
Total Liabilities and Net Assets / Fund Balance$1,939,092$2,174,108▲ $235,016

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$658,741$112,491-
Other Land Buildings$4,484--
Land$56,250--
Equipment$236,166$69,972-
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Jeremy DerooPresident
Mark MulderBoard Member
Michelle LargeBoard Member
Sai-quan JacksonBoard Member
Sarah RoelofsBoard Member
Sara KnoesterSecretary
Brian KrosschellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$723,541
Program Service Revenue
$688,026
Investment Income
$0
Other Revenue
$0
All Other Contributions
$723,541
Change in Net Assets
$40,070

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,411,567
Total Revenue per Audited Statements
$1,411,567
Total Revenue per Form 990
$1,411,567
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$974,677
Other Expenses$396,820
Total Fundraising Expense$81,870
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$614,874$165,543$7,883$788,300
Other Employee Benefits$89,576$32,168$3,225$124,969
Office Expenses$9,903$30,291$68,860$109,054
Other Expenses$83,531$1,405-$84,936
Payroll Taxes$42,408$11,706$595$54,709
Depreciation Depletion$48,303$2,542-$50,845
Occupancy$44,155$2,324-$46,479
Fees for Services Accounting-$39,850-$39,850
Information Technology$24,069$1,148-$25,217
Insurance$11,061$582-$11,643
Advertising-$8,561-$8,561
Pension Plan Contributions$4,689$1,809$201$6,699
Conferences and Meetings$6,019--$6,019
Travel-$2,070$109$2,179
Fees for Services Legal-$1,200-$1,200
Fees for Services Other$111-$997$1,108
Total Functional Expenses$988,428$301,199$81,870$1,371,497

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,371,497
Total Expenses per Audited Statements$1,371,497
Total Expenses per Form 990$1,371,497
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
Accrued Payroll Payroll Taxes Whld$107,708
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
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 governing body review Part VI line 11

“Draft of 990 sent to board members for review and comment prior to filing”

CEO executive director top management comp Part VI line 15A

“Our compensation was determined by a review of other christian schools in the region, consultation with christian schools international of which we are a member, and, on a case-by-case basis compensation must fall within guidelines established by the board. Compensation is reviewed annually during the budgeting process and approved by the board of directors.”

Other officer or key employee compensation Part VI line 15B

“Our compensation was determined by a review of other christian schools in the region, consultation with christian schools international of which we are a member, and, on a case-by-case basis compensation must fall within guidelines established by the board. Compensation is reviewed annually during the budgeting process and approved by the board of directors.”

Governing documents etc available to public Part VI line 19

“990 and governing documents available to the public upon reqest”

Filing and Contact Details

Filer

Filer Name
Living Stones Academy
EIN
27-1110309
Address
1415 LYON NE, GRAND RAPIDS, MI 49503

Signing Officer

Name
Brian Krosschell
Title
Treasurer
Phone
6168039654
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
8
Employees
32
Volunteers
156

Preparer

Firm
Eastown Financial Services Inc
Address
1514 WEALTHY ST SE SUITE 226, GRAND RAPIDS, MI 49506
Preparer
Andrew C Bos
Phone
6162339773
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1-641695
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0236166
IRS990ScheduleD/EquipmentGrp/DepreciationAmt069972
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0306138
IRS990ScheduleD/ExpensesSubtotalAmt01371497
IRS990ScheduleD/LandGrp/BookValueAmt056250
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt056250
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt0955641
IRS990ScheduleD/TotalExpensesPerForm990Amt01371497
IRS990ScheduleD/TotalLiabilityAmt0107708
IRS990ScheduleD/TotalRevenuePerForm990Amt01411567
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01371497
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DRAFT OF 990 SENT TO BOARD MEMBERS FOR REVIEW AND COMMENT PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OUR COMPENSATION WAS DETERMINED BY A REVIEW OF OTHER CHRISTIAN SCHOOLS IN THE REGION, CONSULTATION WITH CHRISTIAN SCHOOLS INTERNATIONAL OF WHICH WE ARE A MEMBER, AND, ON A CASE-BY-CASE BASIS COMPENSATION MUST FALL WITHIN GUIDELINES ESTABLISHED BY THE BOARD. COMPENSATION IS REVIEWED ANNUALLY DURING THE BUDGETING PROCESS AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OUR COMPENSATION WAS DETERMINED BY A REVIEW OF OTHER CHRISTIAN SCHOOLS IN THE REGION, CONSULTATION WITH CHRISTIAN SCHOOLS INTERNATIONAL OF WHICH WE ARE A MEMBER, AND, ON A CASE-BY-CASE BASIS COMPENSATION MUST FALL WITHIN GUIDELINES ESTABLISHED BY THE BOARD. COMPENSATION IS REVIEWED ANNUALLY DURING THE BUDGETING PROCESS AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3990 AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt081870
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0301199
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0988428
IRS990/TotalFunctionalExpensesGrp/TotalAmt01371497
IRS990/TotalGrossUBIAmt00
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IRS990/TravelGrp/ManagementAndGeneralAmt02070
IRS990/TravelGrp/TotalAmt02179
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0169700
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.LIVINGSTONESGR.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN KROSSCHELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06168039654
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIVING STONES ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0LIVI
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
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ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-20

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,174,108
Liabilities
$310,044
Net assets
$1,864,064
Revenue
$1,411,567
Expenses
$1,371,497
Net income
$40,070
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.21$0.24$6.97$2.57$2.47$0.10
2023Detailed filing. Detailed filing data is available for this year.$7.06$0.19$6.87$4.44$2.18$2.27
2022Detailed filing. Detailed filing data is available for this year.$4.70$0.07$4.63$3.15$1.88$1.27
2021Detailed filing. Detailed filing data is available for this year.$3.55$0.20$3.36$3.08$1.58$1.50
2020Detailed filing. Detailed filing data is available for this year.$2.17$0.31$1.86$1.41$1.37$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.94$0.12$1.82$1.14$1.14$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.94$0.12$1.83$1.66$0.96$0.70
2017Detailed filing. Detailed filing data is available for this year.$1.27$0.15$1.12$1.99$0.89$1.10
2016Detailed filing. Detailed filing data is available for this year.$0.63$0.60$0.03$0.72$0.69$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.56$0.58$0.01$0.62$0.68$0.05
2013Detailed filing. Detailed filing data is available for this year.$0.02$0.01$0.01$0.49$0.48$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.01$0.00$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.03$0.01$0.03$0.31