Civic Intelligence

Launchpad Development Five LLC

990 • Fiscal year 2014 • EIN 27-5083413

Jul 01, 2013 to Jun 30, 2014 • Filed on May 29, 2015

350 Twin Dolphin DriveRoom/Suite 10994065

(877) 806-0920

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.08x

Higher debt load relative to assets than 93% of similar nonprofits.

2014 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

75th percentile

10.25x

Higher debt load relative to revenue than 75% of similar nonprofits.

2014 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2014

Net Margin

48th percentile

10%

Higher net margin than 48% of similar nonprofits.

2014 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

75th percentile

$283,379

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 28.2% of source-year revenue.

2014 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2014

Asset Growth

50th percentile

-0.8%

Faster asset growth than 50% of similar nonprofits.

2014 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Assets

Down

$9,574,967

Down $75,871 (-0.8%) from 2013

Net Assets

Down

-$723,178

Down $97,684 (-16%) from 2013

Liabilities

Up

$10,298,145

Up $21,813 (+0.2%) from 2013

Revenue

$1,004,982

No earlier filing loaded for comparison.

Expenses

Up

$902,666

Up $42,060 (+4.9%) from 2013

Net Income

$102,316

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.

$15M$10M$5.0M$0-$5.0MAssets 2012: $10,162,804Liabilities 2012: $10,289,433Net Assets 2012: -$126,6292012Assets 2013: $9,650,838Liabilities 2013: $10,276,332Net Assets 2013: -$625,4942013Assets 2014: $9,574,967Liabilities 2014: $10,298,145Net Assets 2014: -$723,1782014Assets 2015: $8,466,355Liabilities 2015: $10,137,387Net Assets 2015: -$1,671,0322015Assets 2016: $8,110,867Liabilities 2016: $10,179,395Net Assets 2016: -$2,068,5282016Assets 2017: $8,114,814Liabilities 2017: $10,245,515Net Assets 2017: -$2,130,7012017Assets 2018: $8,234,424Liabilities 2018: $8,429,199Net Assets 2018: -$194,7752018Assets 2019: $8,764,800Liabilities 2019: $8,503,443Net Assets 2019: $261,3572019Assets 2020: $8,384,491Liabilities 2020: $11,289,736Net Assets 2020: -$2,905,2452020Assets 2021: $8,071,814Liabilities 2021: $11,373,547Net Assets 2021: -$3,301,7332021Assets 2022: $7,944,175Liabilities 2022: $11,276,201Net Assets 2022: -$3,332,0262022Assets 2023: $7,932,512Liabilities 2023: $10,722,141Net Assets 2023: -$2,789,6292023Assets 2024: $7,950,615Liabilities 2024: $10,656,068Net Assets 2024: -$2,705,4532024

Highlighted filing

2014

Assets$9,574,967
Liabilities$10,298,145
Net Assets-$723,178

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $764,2862012Expenses 2013: $860,6062013Revenue 2014: $1,004,982Expenses 2014: $902,666Net Income 2014: $102,3162014Revenue 2015: $854,663Expenses 2015: $827,317Net Income 2015: $27,3462015Revenue 2016: $979,386Expenses 2016: $826,882Net Income 2016: $152,5042016Revenue 2017: $821,476Expenses 2017: $883,649Net Income 2017: -$62,1732017Revenue 2018: $2,198,589Expenses 2018: $262,663Net Income 2018: $1,935,9262018Revenue 2019: $702,628Expenses 2019: $246,496Net Income 2019: $456,1322019Revenue 2020: $767,147Expenses 2020: $795,202Net Income 2020: -$28,0552020Revenue 2021: $746,991Expenses 2021: $793,572Net Income 2021: -$46,5812021Revenue 2022: $747,814Expenses 2022: $778,107Net Income 2022: -$30,2932022Revenue 2023: $1,297,142Expenses 2023: $754,745Net Income 2023: $542,3972023Revenue 2024: $686,231Expenses 2024: $602,055Net Income 2024: $84,1762024

Highlighted filing

2014

Revenue$1,004,982
Expenses$902,666
Net Income$102,316
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 29, 2015
Return Version
2013v4.0
Gross Receipts
$1,004,982
Mission and Program Overview

Mission

To construct, hold, and manage the facility used in the school operations of rocketship five elementary school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,009,707$8,828,820▼ $180,887
Cash and Non-Interest-Bearing Accounts$405,114$659,059▲ $253,945
Accounts Receivable$221,846$86,425▼ $135,421
Prepaid Expenses and Deferred Charges$14,171$663▼ $13,508
Total Assets$9,650,838$9,574,967▼ $75,871
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,975,000$9,975,000→ $0
Other Liabilities$250,000$250,000→ $0
Accounts Payable and Accrued Expenses$51,332$73,145▲ $21,813
Total Liabilities$10,276,332$10,298,145▲ $21,813
Net Assets / Fund Balance
Unrestricted Net Assets$-625,494$-723,178▼ $97,684
Total Net Assets Fund Balance$-625,494$-723,178▼ $97,684
Total Liabilities and Net Assets / Fund Balance$9,650,838$9,574,967▼ $75,871

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,665,812$564,466$7,230,278
Land$2,109,506-$2,109,506
Equipment$53,502$46,815$100,317
Compensation and Service Providers

Board Members and Trustees

NameTitle
Andrew SternBoard Chair
Cam TurnerMember Ldc
Jeffrey WinakerMember Ldc
Tadd MillerMember Ldc
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,004,982
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$102,316
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$902,666
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
Interest$602,053--$602,053
Depreciation Depletion$189,748--$189,748
Occupancy$96,346--$96,346
Insurance$12,833--$12,833
Fees for Services Accounting$1,500--$1,500
Office Expenses$186--$186
Total Functional Expenses$902,666$0$0$902,666
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$250,000
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, Page 6, Part VI, Line 6

Launchpad development company, a california non-profit organization under internal revenue code section 501(c)(3), is a single member of launchpad development five llc.

Form 990, Page 6, Part VI, Line 8B

There are no committees delegated by the board

Form 990, Page 6, Part VI, Line 11B

The member organization's board oversees the preparation of the information needed to prepare the 990 and review the form 990; the member organization's full board will approve it before it is submitted to the irs.

Form 990, Page 6, Part VI, Line 12C

All designated employees must file conflict of interest disclsoure by april 1st of each year. Conflicts are reviewed and determined by board of directors.

Form 990, Page 6, Part VI, Line 19

Our governing documents, conflict of interest policy, and board financial reports are available upon request. Our annual audited financial statements are available upon request.

Filing and Contact Details

Filer

EIN
27-5083413
Phone
8778060920

Signing Officer

Name
Andrew Stern
Title
Board Chair
Phone
8778060920
Signed
2015-05-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Stern
Formed
2009
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Preparer
Wade Mcmullen CPA
Phone
6268577300
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Distribution to launchpad development company -200,000

Financial Statement Notes

Schedule D, Page 3, Part X

Launchpad development five llc is organized as a 501(c)(2) exempt title holding company and provisions for income taxes have been recorded accordingly. Management has determined that all income tax positions are more likely than not (>50%) of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. The organization files all appropriate tax returns in the u.s. Federal jurisdiction, and the state of california.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LAUNCHPAD DEVELOPMENT FIVE LLC IS ORGANIZED AS A 501(C)(2) EXEMPT TITLE HOLDING COMPANY AND PROVISIONS FOR INCOME TAXES HAVE BEEN RECORDED ACCORDINGLY. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT (>50%) OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. THE ORGANIZATION FILES ALL APPROPRIATE TAX RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF CALIFORNIA.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LAUNCHPAD DEVELOPMENT COMPANY, A CALIFORNIA NON-PROFIT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), IS A SINGLE MEMBER OF LAUNCHPAD DEVELOPMENT FIVE LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO COMMITTEES DELEGATED BY THE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBER ORGANIZATION'S BOARD OVERSEES THE PREPARATION OF THE INFORMATION NEEDED TO PREPARE THE 990 AND REVIEW THE FORM 990; THE MEMBER ORGANIZATION'S FULL BOARD WILL APPROVE IT BEFORE IT IS SUBMITTED TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DESIGNATED EMPLOYEES MUST FILE CONFLICT OF INTEREST DISCLSOURE BY APRIL 1ST OF EACH YEAR. CONFLICTS ARE REVIEWED AND DETERMINED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OUR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND BOARD FINANCIAL REPORTS ARE AVAILABLE UPON REQUEST. OUR ANNUAL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DISTRIBUTION TO LAUNCHPAD DEVELOPMENT COMPANY -200,000
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine14LCI SUB-CDE IV LLC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10ROCKETSHIP EDUCATION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine12ROCLETSHIP EDUCATION WISCONSIN INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine13LAUNCHPAD DEVELOPMENT COMPANY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2CHARTER SC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3CHARTER SC
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