Civic Intelligence

Goal Academy

990 • Fiscal year 2018 • EIN 27-1151001

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 31, 2018

304 S VictoriaPueblo, CO 81003

(877) 776-4625

Siviq Scores

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

Liabilities / Assets

99th percentile

1.98x

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

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

90th percentile

3.16x

Higher debt load relative to revenue than 90% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

4th percentile

-56%

Higher net margin than 4% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

28th percentile

$173,434

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

11th percentile

-8.0%

Faster asset growth than 11% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

44th percentile

3.0%

Faster revenue growth than 44% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Assets

Up

$46,786,690

Up $29,264,483 (+167%) from 2016

Net Assets

Down

-$45,892,028

Down $29,151,701 (-174%) from 2016

Liabilities

Up

$92,678,718

Up $58,416,184 (+170%) from 2016

Revenue

Down

$29,368,952

Down $1,191,526 (-3.9%) from 2016

Expenses

Up

$45,872,653

Up $20,769,901 (+83%) from 2016

Net Income

Down

-$16,503,701

Down $21,961,427 (-402%) from 2016

Historical Trend

Balance Sheet Trend

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

$100M$50M$0-$50MAssets 2015: $8,743,155Liabilities 2015: $29,941,676Net Assets 2015: -$21,198,5212015Assets 2016: $17,522,207Liabilities 2016: $34,262,534Net Assets 2016: -$16,740,3272016Assets 2018: $46,786,690Liabilities 2018: $92,678,718Net Assets 2018: -$45,892,0282018Assets 2019: $35,999,323Liabilities 2019: $78,826,817Net Assets 2019: -$42,827,4942019Assets 2020: $33,148,143Liabilities 2020: $71,055,458Net Assets 2020: -$37,907,3152020Assets 2021: $58,555,630Liabilities 2021: $90,391,863Net Assets 2021: -$31,836,2332021Assets 2022: $51,570,908Liabilities 2022: $71,502,952Net Assets 2022: -$19,932,0442022Assets 2025: $66,171,203Liabilities 2025: $83,085,851Net Assets 2025: -$16,914,6482025

Highlighted filing

2018

Assets$46,786,690
Liabilities$92,678,718
Net Assets-$45,892,028

Operations Trend

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

$100M$50M$0-$50MRevenue 2015: $23,372,008Expenses 2015: $24,290,994Net Income 2015: -$918,9862015Revenue 2016: $30,560,478Expenses 2016: $25,102,752Net Income 2016: $5,457,7262016Revenue 2018: $29,368,952Expenses 2018: $45,872,653Net Income 2018: -$16,503,7012018Revenue 2019: $33,731,916Expenses 2019: $30,667,382Net Income 2019: $3,064,5342019Revenue 2020: $42,537,262Expenses 2020: $37,617,083Net Income 2020: $4,920,1792020Revenue 2021: $44,248,419Expenses 2021: $38,177,337Net Income 2021: $6,071,0822021Revenue 2022: $48,674,529Expenses 2022: $36,770,340Net Income 2022: $11,904,1892022Revenue 2025: $79,509,489Expenses 2025: $75,496,420Net Income 2025: $4,013,0692025

Highlighted filing

2018

Revenue$29,368,952
Expenses$45,872,653
Net Income-$16,503,701
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 31, 2018
Return Version
2017v2.3
Gross Receipts
$29,368,952
Mission and Program Overview

Mission

Online Charter School

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$14,772,724$15,661,846▲ $889,122
Land, Buildings, and Equipment, Net$659,395$1,087,120▲ $427,725
Inventories for Sale or Use$410,374$0▼ $410,374
Accounts Receivable$112,104$184,127▲ $72,023
Prepaid Expenses and Deferred Charges$19,964$5,437▼ $14,527
Total Assets$50,857,523$46,786,690▼ $4,070,833
Other Assets Total$34,882,962$29,848,160▼ $5,034,802
Liabilities
Other Liabilities$77,317,874$92,030,253▲ $14,712,379
Accounts Payable and Accrued Expenses$1,100,439$648,465▼ $451,974
Total Liabilities$78,418,313$92,678,718▲ $14,260,405
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,491,395$862,500▼ $628,895
Unrestricted Net Assets$-29,052,185$-46,754,528▼ $17,702,343
Total Net Assets Fund Balance$-27,560,790$-45,892,028▼ $18,331,238
Total Liabilities and Net Assets / Fund Balance$50,857,523$46,786,690▼ $4,070,833

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,059,001$243,915$1,302,916
Buildings$28,119$5,964$34,083
Other Assets Org$29,743,964--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard MestasExecutive DirectorFT$144,951$28,483$173,434
Carolyn GeryChief Strategy & InnovatioFT$111,475$21,905$133,380
Duane NavaChief Officer of OperationsFT$108,941$21,407$130,348
Deborah MortonChief Financial OfficerFT$105,052$20,643$125,695
Karla AshDirector of AccountabilityFT$101,710$19,986$121,696
Jill ToussaintChief Learning & Engagement OfficerFT$100,700$19,788$120,488

Board Members and Trustees

NameTitle
Debbie RosePresident
Ted HernandezVice President
Bob VigilDirector
Burnie ZercherDirector
Luis ContrerasDirector
Ted Del DucaDirector
Dr Constance JonesExecutive Director
Marisol ReruchaSecretary
Brad RiceTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,359,397
Program Service Revenue
$27,892,102
Investment Income
$95,341
Other Revenue
$22,112
All Other Contributions
$12
Change in Net Assets
$-16,503,701

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,368,952
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$29,368,952
Total Revenue per Form 990
$29,368,952
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$36,164,926
Other Expenses$9,707,727
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Pension Plan Contributions$17,869,989$2,764,857-$20,634,846
Other Salaries and Wages$12,065,265$1,340,585-$13,405,850
Information Technology$1,043,834$115,982-$1,159,816
Other Employee Benefits$971,916$150,376-$1,122,292
Occupancy$958,887$106,543-$1,065,430
Current Officers, Directors, Trustees, and Key Employees$241,512$563,528-$805,040
All Other Expenses$566,383$40,160-$606,543
Other Expenses$366,624$40,736-$407,360
Advertising$287,991$31,999-$319,990
Fees for Services Legal$39,083$186,299-$225,382
Payroll Taxes$170,516$26,382-$196,898
Insurance$176,149$19,572-$195,721
Depreciation Depletion$192,126--$192,126
Travel$151,673$16,853-$168,526
Fees for Services Other-$153,834-$153,834
Office Expenses$101,048$11,228-$112,276
Fees for Service Investment Mgmnt Fees-$60,000-$60,000
Fees for Services Lobbying-$36,228-$36,228
Fees for Services Accounting-$20,500-$20,500
Total Functional Expenses$39,883,513$5,989,140$0$45,872,653

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$45,872,653
Total Expenses per Audited Statements$45,872,653
Total Expenses per Form 990$45,872,653
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liabilities$88,318,269
Deferred Inflows of Resources$3,711,984
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
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, Part VI, Section B, line 11B

The Director and the Board review the 990 before filing.

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

Board members, executive officers and key employees are required to disclose any conflicts on an annual basis.

Form 990, Part VI, Section B, line 15

Executive compensation was set by deliberation of the Board in conjunction with financial oversight from the local school district, the State of Colorado, and in compliance with all financial transparency laws and regulations. In setting the compensation, surveys of comparable online charter schools as well as benchmarking against conventional schools and similary related state and national organizations was used.

Form 990, Part VI, Section C, line 19

Financial information is available on the School's website.

Filing and Contact Details

Filer

Filer Name
GOAL Academy
EIN
27-1151001
Phone
8777764625
Address
304 S Victoria, Pueblo, CO 81003

Signing Officer

Name
Constance Jones
Title
Executive Director
Phone
8777764625
Signed
2018-10-31
Discuss with paid preparer
No

Organization Details

Principal Officer
Constance Jones
Formed
2009
Legal Domicile
Co
Voting Board Members
8
Independent Board Members
8
Employees
391
Volunteers
5

Preparer

Firm
Hoelting & Company Inc
Address
31 E Platte Ave Ste 300, Colorado Springs, CO 80903
Preparer
Thomas G Sistare
Phone
7196301091
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

The board of directors assumes responsibility for the oversight of the audit and selection of an independent accountant. This procedure has not changed from prior years.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt14Executive Director
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IRS990/MinutesOfCommitteesInd01
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IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
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IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
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IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0These policies are available upon request.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The School receives grant funding from the Colorado Department of Education.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E Line 6-Explanation of Aid or Assistance from Governmental Agency
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00

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