Civic Intelligence

Old Town Academy

990 • Fiscal year 2016 • EIN 27-4362839

Jul 01, 2015 to Jun 30, 2016 • Filed on May 12, 2017

2120 San Diego AvenueSan Diego, CA 92110

(619) 574-6225

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.35x

Higher debt load relative to assets than 72% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

43rd percentile

0.08x

Higher debt load relative to revenue than 43% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

58th percentile

4.9%

Higher net margin than 58% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

68th percentile

$96,966

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Assets

$493,037

No earlier filing loaded for comparison.

Net Assets

$319,947

No earlier filing loaded for comparison.

Liabilities

$173,090

No earlier filing loaded for comparison.

Revenue

$2,277,916

No earlier filing loaded for comparison.

Expenses

$2,165,227

No earlier filing loaded for comparison.

Net Income

$112,689

No earlier filing loaded for comparison.

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 2016: $493,037Liabilities 2016: $173,090Net Assets 2016: $319,9472016Assets 2017: $831,519Liabilities 2017: $104,207Net Assets 2017: $727,3122017Assets 2018: $1,380,195Liabilities 2018: $180,807Net Assets 2018: $1,199,3882018Assets 2019: $1,245,726Liabilities 2019: $92,166Net Assets 2019: $1,153,5602019Assets 2020: $1,382,344Liabilities 2020: $123,068Net Assets 2020: $1,259,2762020Assets 2021: $1,494,936Liabilities 2021: $233,206Net Assets 2021: $1,261,7302021Assets 2022: $1,521,109Liabilities 2022: $282,646Net Assets 2022: $1,238,4632022Assets 2023: $3,045,109Liabilities 2023: $1,818,823Net Assets 2023: $1,226,2862023Assets 2024: $2,635,610Liabilities 2024: $1,405,218Net Assets 2024: $1,230,3922024

Highlighted filing

2016

Assets$493,037
Liabilities$173,090
Net Assets$319,947

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $2,277,916Expenses 2016: $2,165,227Net Income 2016: $112,6892016Revenue 2017: $2,641,947Expenses 2017: $2,234,582Net Income 2017: $407,3652017Revenue 2018: $2,970,130Expenses 2018: $2,498,054Net Income 2018: $472,0762018Revenue 2019: $2,560,856Expenses 2019: $2,606,684Net Income 2019: -$45,8282019Revenue 2020: $2,635,998Expenses 2020: $2,530,282Net Income 2020: $105,7162020Revenue 2021: $2,699,177Expenses 2021: $2,696,723Net Income 2021: $2,4542021Revenue 2022: $2,838,069Expenses 2022: $2,861,336Net Income 2022: -$23,2672022Revenue 2023: $3,498,735Expenses 2023: $3,510,912Net Income 2023: -$12,1772023Revenue 2024: $3,652,295Expenses 2024: $3,648,188Net Income 2024: $4,1072024

Highlighted filing

2016

Revenue$2,277,916
Expenses$2,165,227
Net Income$112,689
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 12, 2017
Return Version
2015v3.0
Gross Receipts
$2,277,916
Mission and Program Overview

Mission

To graduate students with both the world-class core learning skills and the active learning habits-of-mind they will need to survive and thriv in high school and in the 21st century society.

Old Town Academy operates a public charter school providing educational services to students in grades K-8. Old Town Academy opened in Fall 2011 and is authorized by the San Diego Unified School District.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$171,266$342,154▲ $170,888
Land, Buildings, and Equipment, Net$45,043$56,201▲ $11,158
Savings and Temporary Cash Investments-$51,284-
Prepaid Expenses and Deferred Charges$35,630$36,459▲ $829
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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-
Cash and Non-Interest-Bearing Accounts$78,563$-41,411▼ $119,974
Total Assets$364,495$493,037▲ $128,542
Other Assets Total$33,993$48,350▲ $14,357
Liabilities
Accounts Payable and Accrued Expenses$140,092$173,090▲ $32,998
Unsecured Notes Loans Payable$65,899--
Total Liabilities$205,991$173,090▼ $32,901
Net Assets / Fund Balance
Unrestricted Net Assets$158,504$299,320▲ $140,816
Temporarily Rstr Net Assets-$20,627-
Total Net Assets Fund Balance$158,504$319,947▲ $161,443
Total Liabilities and Net Assets / Fund Balance$364,495$493,037▲ $128,542

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$48,237$109,654$157,891
Equipment$7,964$236$8,200
Other Assets Org$14,357--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Christopher CelentinoChair/president
Thomas E DonahueExecutive Director/Co-Founder
David CainMember
Kenneth MorrisMember
Kevin OlenickMember
Mireille Desrosiers-KutchukMember
Ryan CallanMember
Sandra GartlandMember
Trevor Wayne GarbMember
Anna SickSecretary
William BatchelorTri-valley Learning Corp CEO
Revenue and Support

Revenue Composition

Contributions and Grants
$2,277,687
Program Service Revenue
$0
Investment Income
$229
Other Revenue
$0
All Other Contributions
$5,967
Change in Net Assets
$112,689

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,277,916
Total Revenue per Audited Statements
$2,277,916
Total Revenue per Form 990
$2,277,916
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,263,585
Other Expenses$901,642
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$882,650$144,758-$1,027,408
Occupancy$454,252$74,499-$528,751
Pension Plan Contributions$103,671--$103,671
Fees for Services Other$89,281$11,534-$100,815
Other Employee Benefits$65,282$9,659-$74,941
Fees for Services Legal$50,337$8,256-$58,593
Payroll Taxes$49,888$7,677-$57,565
Office Expenses$20,312$12,673-$32,985
Depreciation Depletion$19,551$3,206-$22,757
Fees for Services Management$20,000--$20,000
Other Expenses$15,045$2,467-$17,512
Travel$8,026--$8,026
Insurance$4,183$686-$4,869
Interest-$2,247-$2,247
Total Functional Expenses$1,881,339$283,888$0$2,165,227

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,165,227
Total Expenses per Audited Statements$2,165,227
Total Expenses per Form 990$2,165,227
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
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Effective July 1, 2014, Old Town Academy became a member of the Tri-Valley Learning Corporation (TVLC) and entered into a memorandum of understanding for management services. The merger/combination with TVLC was formally rescinded effective December 10, 2015. All financial transactions were conducted by TVLC during the calendar year 2015. All Form 1099s were issued to independent contractors and Form W-2s issued by TVLC although contractors provided services and employees time and effort to Old Town Academy during the calendar year 2015.

Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents

Old Town Academy has revised it's organizational documents to remove any joint venture or membership with Tri-Valley Learning Corporation (TVLC). The merger/combination was formally rescinded with TVLC effective December 10, 2015.

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

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

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Old Town Academy
EIN
27-4362839
Phone
6195746225
Address
2120 San Diego Avenue, San Diego, CA 92110

Signing Officer

Name
John Centofranchi
Title
Principal
Signed
2017-05-12
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
0
Employees
0

Preparer

Firm
Christy White Associates
Address
348 Olive Street, San Diego, CA 92103
Preparer
Christy White CPA
Phone
6192708222
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Management believes all of its significant tax positions would be upheld under examination; therefore, no provision for income tax has been recorded.

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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt074499
IRS990/OccupancyGrp/ProgramServicesAmt0454252
IRS990/OccupancyGrp/TotalAmt0528751
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt012673
IRS990/OfficeExpensesGrp/ProgramServicesAmt020312
IRS990/OfficeExpensesGrp/TotalAmt032985
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt033993
IRS990/OtherAssetsTotalGrp/EOYAmt048350
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt09659
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt065282
IRS990/OtherEmployeeBenefitsGrp/TotalAmt074941
IRS990/OtherExpensesGrp/Desc0Books and Supplies
IRS990/OtherExpensesGrp/Desc1SPONSORING DISTRICT OVERSIGHT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06226
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12467
IRS990/OtherExpensesGrp/ProgramServicesAmt098861
IRS990/OtherExpensesGrp/ProgramServicesAmt115045
IRS990/OtherExpensesGrp/TotalAmt0105087
IRS990/OtherExpensesGrp/TotalAmt117512
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0144758
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0882650
IRS990/OtherSalariesAndWagesGrp/TotalAmt01027408
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07677
IRS990/PayrollTaxesGrp/ProgramServicesAmt049888
IRS990/PayrollTaxesGrp/TotalAmt057565
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0103671
IRS990/PensionPlanContributionsGrp/TotalAmt0103671
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt035630
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt036459
IRS990/PriorPeriodAdjustmentsAmt048754
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01603009
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0262
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IRS990/PYRevenuesLessExpensesAmt0-624651
IRS990/PYSalariesCompEmpBnftPaidAmt01170327
IRS990/PYTotalExpensesAmt02227922
IRS990/PYTotalRevenueAmt01603271
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0112689
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt0143741
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02277687
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt051284
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt07964
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0236
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08200
IRS990ScheduleD/ExpensesSubtotalAmt02165227
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt048237
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0109654
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0157891
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt033993
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt114357
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Employee advances
IRS990ScheduleD/RevenueSubtotalAmt02277916
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Management believes all of its significant tax positions would be upheld under examination; therefore, no provision for income tax has been recorded.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt056201
IRS990ScheduleD/TotalBookValueOtherAssetsAmt048350
IRS990ScheduleD/TotalExpensesPerForm990Amt02165227
IRS990ScheduleD/TotalRevenuePerForm990Amt02277916
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02277916
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02165227
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The Organization receives financial assistance from the California Department of Education and the County of San Diego, California as part of its operations a public charter school.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The nondiscriminatory policy is made known through information available on the school's website, within the chartering documents, and other correspondences with the general public.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2The Organization is a public charter school which operates tuition-free; therefore, scholarships and financial assistance do not apply and thus records for such aid are not maintained.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt046244
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt189256
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt04512
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt17710
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Thomas E Donahue
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1William Batchelor
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Director/Co-Founder
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TRI-VALLEY LEARNING CORP CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt050756
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt196966

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