Civic Intelligence

Akiba Foundation

990 • Fiscal year 2019 • EIN 27-1865925

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 21, 2020

Organization ProfileN/A
12324 Merit DriveDallas, TX 75251

(214) 295-3400

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

1st percentile

-487%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

57th percentile

5.1%

Faster asset growth than 57% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-81%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$5,211,950

Up $253,744 (+5.1%) from 2018

Net Assets

Up

$5,211,950

Up $253,744 (+5.1%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin1st percentile

Revenue

Down

$77,076

Down $320,365 (-81%) from 2018

Expenses

Up

$452,756

Up $208,185 (+85%) from 2018

Net Income

Down

-$375,680

Down $528,550 (-346%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$6.0M$4.0M$2.0M$0Assets 2012: $4,624,847Liabilities 2012: $0Net Assets 2012: $4,624,8472012Assets 2013: $4,555,484Liabilities 2013: $0Net Assets 2013: $4,555,4842013Assets 2014: $4,964,308Liabilities 2014: $0Net Assets 2014: $4,964,3082014Assets 2015: $4,998,296Liabilities 2015: $0Net Assets 2015: $4,998,2962015Assets 2016: $4,883,448Liabilities 2016: $0Net Assets 2016: $4,883,4482016Assets 2018: $4,958,206Liabilities 2018: $0Net Assets 2018: $4,958,2062018Assets 2019: $5,211,950Liabilities 2019: $0Net Assets 2019: $5,211,9502019Assets 2020: $5,176,878Liabilities 2020: $0Net Assets 2020: $5,176,8782020Assets 2021: $5,310,833Liabilities 2021: $0Net Assets 2021: $5,310,8332021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2019

Assets$5,211,950
Liabilities$0
Net Assets$5,211,950
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.0M$500K$0-$500KExpenses 2012: $204,5692012Expenses 2013: $256,7182013Revenue 2014: $578,483Expenses 2014: $169,659Net Income 2014: $408,8242014Revenue 2015: $282,383Expenses 2015: $242,610Net Income 2015: $39,7732015Revenue 2016: $135,187Expenses 2016: $250,034Net Income 2016: -$114,8472016Revenue 2018: $397,441Expenses 2018: $244,571Net Income 2018: $152,8702018Revenue 2019: $77,076Expenses 2019: $452,756Net Income 2019: -$375,6802019Revenue 2020: $216,639Expenses 2020: $251,711Net Income 2020: -$35,0722020Revenue 2021: $382,196Expenses 2021: $248,241Net Income 2021: $133,9552021Revenue 2022: $265,867Expenses 2022: $138,202Net Income 2022: $127,6652022

Highlighted filing

2019

Revenue$77,076
Expenses$452,756
Net Income-$375,680
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 21, 2020
Return Version
2018v3.1
Gross Receipts
$116,250
Mission and Program Overview

Mission

Sole purpose is for the benefit of akiba academy of dallas

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$4,905,842$4,905,842→ $0
Investments in Publicly Traded Securities$4,815,350$4,825,774▲ $10,424
Cash and Non-Interest-Bearing Accounts$142,856$386,176▲ $243,320
Rtn Earn Endowment Incm Other Fnds$52,364$306,108▲ $253,744
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$4,958,206$5,211,950▲ $253,744
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,958,206$5,211,950▲ $253,744
Total Liabilities and Net Assets / Fund Balance$4,958,206$5,211,950▲ $253,744
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Andrew SchultzPresident
Jaynie Schultz RomanerVice President
Ann RosenbergOfficer
Batsheva SchwartzOfficer
Danny GutmanOfficer
Debbie KatzOfficer
Helene SchusslerOfficer
Josh HochschulerOfficer
Lizzy Rosenberg GriefOfficer
Richard RohanOfficer
Steven P RosenbergSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$77,076
Other Revenue
$0
Change in Net Assets
$-375,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$452,756
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$425,844--$425,844
Fees for Service Investment Mgmnt Fees-$26,912-$26,912
Total Functional Expenses$425,844$26,912$0$452,756
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A draft of the form 990 was reviewed by the director of finance, any corrections are made by the auditors. The audited financial statements were reviewed by the entire board.”

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

“Each director, principle officer and member of a committee affirmed their compliance with the conflict of interest policy. The foundation reviewed to ensure that it operates in a manner consistent with charitable purposes and did not engage in activities that could jeopardize its tax-exempt status.”

Form 990, Part VI, Section C, Line 19

“The organization considered requests for the documents on a case-by-case basis, and in cases in which the organization agreed to make documents available, offered to make them available for inspection, either in the organization's administrative offices, or at the offices of a designated agent, as determined by the organization.”

Filing and Contact Details

Filer

Filer Name
Akiba Foundation
EIN
27-1865925
Phone
2142953400
Address
12324 MERIT DRIVE, DALLAS, TX 75251

Signing Officer

Name
Andrew Schultz
Title
President
Phone
2142953400
Signed
2020-01-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Schultz
Formed
2009
Legal Domicile
TX
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
Bland Garvey Pc
Address
2600 N CENTRAL EXPY 550, RICHARDSON, TX 75080-2007
Preparer
Laura Zerger
Phone
9722312503
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Prior period adjustment to adjust cost basis of securities to actual 629,424.”

Financial Statement Notes

PART X, LINE 2:

“The school is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Accordingly, no provision for federal income taxes has been made. The school files the required annual federal informational return for tax-exempt organizations. The school is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations for years prior to june 30, 2016.”

Raw XML Appendix399 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/Form990ScheduleAPartVIGrp/ExplanationTxt0THE AKIBA FOUNDATION SOLELY BENEIFTS AKIBA ACADEMY OF DALLAS. THE FOUNDATION MAKES AN ANNUAL DISTRIBUTION TO THE ACADEMY FOR TUITION ASSISTANCE TO STUDENTS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES HAS BEEN MADE. THE SCHOOL FILES THE REQUIRED ANNUAL FEDERAL INFORMATIONAL RETURN FOR TAX-EXEMPT ORGANIZATIONS. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2016.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF THE FORM 990 WAS REVIEWED BY THE DIRECTOR OF FINANCE, ANY CORRECTIONS ARE MADE BY THE AUDITORS. THE AUDITED FINANCIAL STATEMENTS WERE REVIEWED BY THE ENTIRE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR, PRINCIPLE OFFICER AND MEMBER OF A COMMITTEE AFFIRMED THEIR COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THE FOUNDATION REVIEWED TO ENSURE THAT IT OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DID NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION CONSIDERED REQUESTS FOR THE DOCUMENTS ON A CASE-BY-CASE BASIS, AND IN CASES IN WHICH THE ORGANIZATION AGREED TO MAKE DOCUMENTS AVAILABLE, OFFERED TO MAKE THEM AVAILABLE FOR INSPECTION, EITHER IN THE ORGANIZATION'S ADMINISTRATIVE OFFICES, OR AT THE OFFICES OF A DESIGNATED AGENT, AS DETERMINED BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PRIOR PERIOD ADJUSTMENT TO ADJUST COST BASIS OF SECURITIES TO ACTUAL 629,424.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
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IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt05211950
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026912
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0425844
IRS990/TotalFunctionalExpensesGrp/TotalAmt0452756
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IRS990/VotingMembersGoverningBodyCnt011
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IRS990/WebsiteAddressTxt0N/A
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02600 N CENTRAL EXPY 550
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RICHARDSON
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0750802007
ReturnHeader/PreparerPersonGrp/PhoneNum09722312503
ReturnHeader/PreparerPersonGrp/PreparationDt02020-01-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAURA ZERGER
ReturnHeader/ReturnTs02020-01-27T16:01:02-06:00
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ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,211,950
Liabilities
$0
Net assets
$5,211,950
Revenue
$77,076
Expenses
$452,756
Net income
-$375,680
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.27$0.14$0.13
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.31$0.00$5.31$0.38$0.25$0.13
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.18$0.00$5.18$0.22$0.25$0.04
2019Detailed filing. Detailed filing data is available for this year.$5.21$0.00$5.21$0.08$0.45$0.38
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.96$0.00$4.96$0.40$0.24$0.15
2016Detailed filing. Detailed filing data is available for this year.$4.88$0.00$4.88$0.14$0.25$0.11
2015Detailed filing. Detailed filing data is available for this year.$5.00$0.00$5.00$0.28$0.24$0.04
2014Detailed filing. Detailed filing data is available for this year.$4.96$0.00$4.96$0.58$0.17$0.41
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.56$0.00$4.56$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.62$0.00$4.62$0.20