Civic Intelligence

Launchpad Development Five LLC

990 • Fiscal year 2019 • EIN 27-5083413

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 18, 2020

Organization ProfileN/A
350 Twin Dolphin Drive 109Redwood City, CA 94065

(877) 806-0920

Siviq Scores

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

Liabilities / Assets

79th percentile

0.97x

Higher debt load relative to assets than 79% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

73rd percentile

12.10x

Higher debt load relative to revenue than 73% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2019

Net Margin

77th percentile

65%

Higher net margin than 77% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

76th percentile

$314,087

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 44.7% of source-year revenue.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2019

Asset Growth

84th percentile

6.4%

Faster asset growth than 84% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

8th percentile

-68%

Faster revenue growth than 8% of similar nonprofits.

2019 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$8,764,800

Up $530,376 (+6.4%) from 2018

Net Assets

Up

$261,357

Up $456,132 (+234%) from 2018

Liabilities

Up

$8,503,443

Up $74,244 (+0.9%) from 2018

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin77th percentile

Revenue

Down

$702,628

Down $1,495,961 (-68%) from 2018

Expenses

Down

$246,496

Down $16,167 (-6.2%) from 2018

Net Income

Down

$456,132

Down $1,479,794 (-76%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

2019

Assets$8,764,800
Liabilities$8,503,443
Net Assets$261,357
Open 2019 Filing

Operations Trend

Revenue Growth8th percentile

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

2019

Revenue$702,628
Expenses$246,496
Net Income$456,132
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 18, 2020
Return Version
2018v3.1
Gross Receipts
$702,628
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$7,393,889$7,209,050▼ $184,839
Cash and Non-Interest-Bearing Accounts$839,678$1,420,516▲ $580,838
Prepaid Expenses and Deferred Charges$857--
Total Assets$8,234,424$8,764,800▲ $530,376
Other Assets Total$0$135,234▲ $135,234
Liabilities
Other Liabilities$8,416,940$7,816,312▼ $600,628
Accounts Payable and Accrued Expenses$12,259$687,131▲ $674,872
Total Liabilities$8,429,199$8,503,443▲ $74,244
Net Assets / Fund Balance
Unrestricted Net Assets$-194,775$261,357▲ $456,132
Total Net Assets Fund Balance$-194,775$261,357▲ $456,132
Total Liabilities and Net Assets / Fund Balance$8,234,424$8,764,800▲ $530,376

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,099,544$1,457,491$6,557,035
Land$2,109,506-$2,109,506
Equipment$0$100,317$100,317
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Keysha BaileyBoard Chair
Cam TurnerMember Ldc
Jeffrey WinakerMember Ldc
Ron DuncansonMember Ldc
Tadd MillerMember Ldc
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$702,615
Investment Income
$13
Other Revenue
$0
Change in Net Assets
$456,132
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$246,496
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
Depreciation Depletion$184,840--$184,840
Occupancy$33,322--$33,322
Insurance$16,999--$16,999
Office Expenses$11,325--$11,325
Fees for Services Accounting$10--$10
Total Functional Expenses$246,496$0$0$246,496
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
Intracompany Payable$7,716,312
Security Deposits$100,000
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, Part VI, Section A, 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, Part VI, Section A, Line 8B

“There are no committees delegated by the board.”

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

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

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

“Monitoring is performed regularly by the officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters.”

Form 990, Part VI, Section C, 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

Filer Name
Launchpad Development Five LLC
EIN
27-5083413
Phone
8778060920
Address
350 TWIN DOLPHIN DRIVE 109, REDWOOD CITY, CA 94065

Signing Officer

Name
Keysha Bailey
Title
Board Chair
Phone
8778060920
Signed
2020-06-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Keysha Bailey
Formed
2009
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Wade Mcmullen CPA
Phone
6268577300
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed since the prior year.”

Financial Statement Notes

PART X, LINE 2:

“Launchpad development company and its affiliates is comprised of various non-profit entities exempt from the payment of income taxes under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. Accordingly, no provision has been made for income taxes related to these entities. 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.”

Raw XML Appendix398 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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTRACOMPANY PAYABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LAUNCHPAD DEVELOPMENT COMPANY AND ITS AFFILIATES IS COMPRISED OF VARIOUS NON-PROFIT ENTITIES EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES RELATED TO THESE ENTITIES. 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 FORM 990 IS PREPARED BY THE ORGANIZATION'S OUTSIDE PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE A DRAFT OF THE RETURN IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT WITH ANY CHANGES OR REVISIONS INCORPORATED INTO THE FILING. THE REVISED RETURN IS THEN SUBMITTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL PRIOR TO SUBMITTING TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MONITORING IS PERFORMED REGULARLY BY THE OFFICERS TO IDENTIFY POTENTIAL CONFLICTS OF INTEREST. ANY QUESTION OF A CONFLICT IS ADDRESSED WITH THE INTERESTED PERSON, WHO IS REQUIRED TO DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST AND BE AFFORDED THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD AND EXECUTIVE DIRECTOR. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE APPROPRIATE ACTION IS TAKEN, INCLUDING LIMITATIONS TO THE INDIVIDUAL'S INFLUENCE ON RELATED BUSINESS MATTERS.
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/ExplanationTxt5THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3ROCKETSHIP EDUCATION DC PUBLIC CHARTER SCHOOLS
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd3CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt3CHARTER SCHOOL
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt2LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt3LINE 2
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2REDWOOD CITY
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd3CA
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IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt08764800
IRS990/TotalAssetsGrp/BOYAmt08234424
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IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0246496
IRS990/TotalGrossUBIAmt00
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IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/FilingSecurityInformation/IPTm013:36:04
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02210 EAST ROUTE 66
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLENDORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091740
ReturnHeader/PreparerPersonGrp/PhoneNum06268577300
ReturnHeader/PreparerPersonGrp/PreparationDt02020-06-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WADE MCMULLEN CPA
ReturnHeader/ReturnTs02020-06-23T10:28:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$8,764,800
Liabilities
$8,503,443
Net assets
$261,357
Revenue
$702,628
Expenses
$246,496
Net income
$456,132
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.95$10.7$2.71$0.69$0.60$0.08
2023Detailed filing. Detailed filing data is available for this year.$7.93$10.7$2.79$1.30$0.75$0.54
2022Detailed filing. Detailed filing data is available for this year.$7.94$11.3$3.33$0.75$0.78$0.03
2021Detailed filing. Detailed filing data is available for this year.$8.07$11.4$3.30$0.75$0.79$0.05
2020Detailed filing. Detailed filing data is available for this year.$8.38$11.3$2.91$0.77$0.80$0.03
2019Detailed filing. Detailed filing data is available for this year.$8.76$8.50$0.26$0.70$0.25$0.46
2018Detailed filing. Detailed filing data is available for this year.$8.23$8.43$0.19$2.20$0.26$1.94
2017Detailed filing. Detailed filing data is available for this year.$8.11$10.2$2.13$0.82$0.88$0.06
2016Detailed filing. Detailed filing data is available for this year.$8.11$10.2$2.07$0.98$0.83$0.15
2015Detailed filing. Detailed filing data is available for this year.$8.47$10.1$1.67$0.85$0.83$0.03
2014Detailed filing. Detailed filing data is available for this year.$9.57$10.3$0.72$1.00$0.90$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.65$10.3$0.63$0.86
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$10.3$0.13$0.76