Civic Intelligence

Aerostem Academy Inc.

990 • Fiscal year 2021 • EIN 32-0570253

Jul 01, 2020 to Jun 30, 2021 • Filed on Apr 27, 2022

82 Second StreetYuba City, CA 95991

(530) 742-2531

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.87x

Higher debt load relative to assets than 92% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

81st percentile

0.58x

Higher debt load relative to revenue than 81% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

48th percentile

12%

Higher net margin than 48% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

69th percentile

$98,614

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

89th percentile

60%

Faster asset growth than 89% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

51st percentile

13%

Faster revenue growth than 51% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

$1,220,114

No earlier filing loaded for comparison.

Net Assets

$157,701

No earlier filing loaded for comparison.

Liabilities

$1,062,413

No earlier filing loaded for comparison.

Revenue

$1,825,401

No earlier filing loaded for comparison.

Expenses

$1,614,931

No earlier filing loaded for comparison.

Net Income

$210,470

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.

$1.5M$1.0M$500K$0-$500KAssets 2021: $1,220,114Liabilities 2021: $1,062,413Net Assets 2021: $157,7012021Assets 2022: $917,830Liabilities 2022: $747,094Net Assets 2022: $170,7362022Assets 2024: $1,181,626Liabilities 2024: $1,245,451Net Assets 2024: -$63,8252024

Highlighted filing

2021

Assets$1,220,114
Liabilities$1,062,413
Net Assets$157,701

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2021: $1,825,401Expenses 2021: $1,614,931Net Income 2021: $210,4702021Revenue 2022: $2,545,608Expenses 2022: $2,532,573Net Income 2022: $13,0352022Revenue 2024: $2,148,318Expenses 2024: $2,303,488Net Income 2024: -$155,1702024

Highlighted filing

2021

Revenue$1,825,401
Expenses$1,614,931
Net Income$210,470
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 27, 2022
Return Version
2020v4.2
Gross Receipts
$1,825,401
Mission and Program Overview

Mission

Aerostem academy prepares students of today for the growing college and career opportunities of tomorrow. By exploring science, technology, engineering, and mathematics ("stem") through the lens of aerospace, students gain the knowledge... (continued on schedule o)and skills necessary to contribute to a dynamic, technology-intensive economy. Aerostem academy creates a culture of character and collaboration in close partnership with college and professional communities. The educational program encourages imagination, incorporates experiential learning, and provides opportunities to engineer solutions.

Operation of a public charter high school exploring stem areas through aerospace

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$256,790$686,494▲ $429,704
Land, Buildings, and Equipment, Net$499,771$381,008▼ $118,763
Rtn Earn Endowment Incm Other Fnds$-52,769$157,701▲ $210,470
Cash and Non-Interest-Bearing Accounts$5,309$140,873▲ $135,564
Prepaid Expenses and Deferred Charges-$11,739-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$761,870$1,220,114▲ $458,244
Liabilities
Unsecured Notes Loans Payable$725,000$600,000▼ $125,000
Mortgage Notes Payable Secured by Investment Property-$272,201-
Accounts Payable and Accrued Expenses$89,639$125,655▲ $36,016
Deferred Revenue$0$64,557▲ $64,557
Total Liabilities$814,639$1,062,413▲ $247,774
Net Assets / Fund Balance
Total Net Assets Fund Balance$-52,769$157,701▲ $210,470
Total Liabilities and Net Assets / Fund Balance$761,870$1,220,114▲ $458,244

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$337,751$225,168$562,919
Equipment$43,257$18,537$61,794
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathy SmithExecutive DirectorFT$75,970$22,644$98,614

Board Members and Trustees

NameTitle
David HeslopPresident
Karen PetersMember
Leslie SandersMember
Suzanne BrownMember
Dallan ReeseSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,817,256
Program Service Revenue
$178
Investment Income
$0
Other Revenue
$7,967
All Other Contributions
$130,273
Change in Net Assets
$210,470

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,825,401
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,825,401
Total Revenue per Form 990
$1,825,401
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$810,121
Other Expenses$804,810
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$350,085$106,330-$456,415
Occupancy$133,945$75,650-$209,595
Pension Plan Contributions$81,837$38,499-$120,336
Other Employee Benefits$77,105$42,087-$119,192
Depreciation Depletion$75,897$42,866-$118,763
Current Officers, Directors, Trustees, and Key Employees-$91,392-$91,392
Fees for Services Other$56,074$15,817-$71,891
Fees for Services Accounting$3,840$46,168-$50,008
Insurance-$36,744-$36,744
Interest$18,021$12,642-$30,663
Office Expenses$19,491$10,674-$30,165
Fees for Services Legal$15,450$8,726-$24,176
Payroll Taxes$12,211$10,575-$22,786
Other Expenses$10,784$6,090-$16,874
Advertising$8,166$4,612-$12,778
Information Technology$4,633$2,617-$7,250
Conferences and Meetings$3,202$1,809-$5,011
Total Functional Expenses$1,046,788$568,143$0$1,614,931

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,614,931
Total Expenses per Audited Statements$1,614,931
Total Expenses per Form 990$1,614,931
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
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
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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 organization will engage with a cpa for tax preparation services. A draft of the tax return will be provided to the executive director for review and approval. The final tax return will be provided to the board for formal acceptance at a public board meeting.

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

All members of the governing board annually file a statement of economic interests (form 700) disclosing those types of investments, interests in real property, sources of income, and business positions that may affect their decision-making. The audit committee monitors compliance and reminds trustees to self-monitor.

Form 990, Part VI, Section B, Line 15

Compensation for the executive director and other key employees is approved by the board of directors and executed by use of a written employment contract.

Form 990, Part VI, Section C, Line 19

Governing documents, financial statements and the conflict of interest policy are available upon request.

Filing and Contact Details

Filer

Filer Name
Aerostem Academy Inc
EIN
32-0570253
Phone
5307422531
Address
82 SECOND STREET, YUBA CITY, CA 95991

Signing Officer

Name
Kathy Smith
Title
Executive Director
Phone
5307422531
Signed
2022-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Board President
Formed
2017
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
22
Volunteers
5

Preparer

Firm
Christy White Associates
Address
348 OLIVE STREET, SAN DIEGO, CA 92103
Preparer
Marcy Kearney
Phone
6192708222
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

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/Desc0OPERATION OF A PUBLIC CHARTER HIGH SCHOOL. AEROSTEM ACADEMY PROVIDES AN EDUCATIONAL MODEL FOR JUNIOR HIGH AND HIGH SCHOOL STUDENTS WHO VALUE LEARNING AND WANT TO PREPARE FOR THEIR FUTURE CAREER NOW. THE AEROSTEM ACADEMY PROGRAM PURSUES ITS OBJECTIVE: TO INTRODUCE STUDENTS TO THE CRITICAL NEED FOR SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS (STEM) KNOWLEDGE BY INTEGRATING STEM SKILLS INTO ALL SUBJECT AREAS. AS A RESULT, STUDENTS ATTACH VALUABLE, PERSONAL MEANING TO THEIR LEARNING IN THE GROWING TECHNOLOGICAL ECONOMY OF THE 21ST CENTURY.
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IRS990/MissionDesc0AEROSTEM ACADEMY PREPARES STUDENTS OF TODAY FOR THE GROWING COLLEGE AND CAREER OPPORTUNITIES OF TOMORROW. BY EXPLORING SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS ("STEM") THROUGH THE LENS OF AEROSPACE, STUDENTS GAIN THE KNOWLEDGE... (CONTINUED ON SCHEDULE O)AND SKILLS NECESSARY TO CONTRIBUTE TO A DYNAMIC, TECHNOLOGY-INTENSIVE ECONOMY. AEROSTEM ACADEMY CREATES A CULTURE OF CHARACTER AND COLLABORATION IN CLOSE PARTNERSHIP WITH COLLEGE AND PROFESSIONAL COMMUNITIES. THE EDUCATIONAL PROGRAM ENCOURAGES IMAGINATION, INCORPORATES EXPERIENTIAL LEARNING, AND PROVIDES OPPORTUNITIES TO ENGINEER SOLUTIONS.
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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/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt043257
IRS990ScheduleD/EquipmentGrp/DepreciationAmt018537
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt061794
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01614931
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0337751
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0225168
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0562919
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01825401
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, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0381008
IRS990ScheduleD/TotalExpensesPerForm990Amt01614931
IRS990ScheduleD/TotalRevenuePerForm990Amt01825401
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01825401
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01614931
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE 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/ExplanationTxt1THE ORGANIZATION IS A PUBLIC CHARTER SCHOOL WHICH OPERATES TUITION-FREE; THEREFORE, SCHOLARSHIPS AND FINANCIAL ASSISTANCE ARE NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION RECEIVES GOVERNMENTAL FUNDING FROM THE UNITIED STATES AND CALIFORNIA DEPARTMENTS OF EDUCATION AND THE COUNTY OF SUTTER, CALIFORNIA, AS PART OF ITS OPERATION AS A PUBLIC CHARTER SCHOOL.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION WILL ENGAGE WITH A CPA FOR TAX PREPARATION SERVICES. A DRAFT OF THE TAX RETURN WILL BE PROVIDED TO THE EXECUTIVE DIRECTOR FOR REVIEW AND APPROVAL. THE FINAL TAX RETURN WILL BE PROVIDED TO THE BOARD FOR FORMAL ACCEPTANCE AT A PUBLIC BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL MEMBERS OF THE GOVERNING BOARD ANNUALLY FILE A STATEMENT OF ECONOMIC INTERESTS (FORM 700) DISCLOSING THOSE TYPES OF INVESTMENTS, INTERESTS IN REAL PROPERTY, SOURCES OF INCOME, AND BUSINESS POSITIONS THAT MAY AFFECT THEIR DECISION-MAKING. THE AUDIT COMMITTEE MONITORS COMPLIANCE AND REMINDS TRUSTEES TO SELF-MONITOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR THE EXECUTIVE DIRECTOR AND OTHER KEY EMPLOYEES IS APPROVED BY THE BOARD OF DIRECTORS AND EXECUTED BY USE OF A WRITTEN EMPLOYMENT CONTRACT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.
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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0761870
IRS990/TotalAssetsEOYAmt01220114
IRS990/TotalAssetsGrp/BOYAmt0761870
IRS990/TotalAssetsGrp/EOYAmt01220114
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01817256
IRS990/TotalEmployeeCnt022
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0568143
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01046788
IRS990/TotalFunctionalExpensesGrp/TotalAmt01614931
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0814639
IRS990/TotalLiabilitiesEOYAmt01062413
IRS990/TotalLiabilitiesGrp/BOYAmt0814639
IRS990/TotalLiabilitiesGrp/EOYAmt01062413
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-52769
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0157701
IRS990/TotalOtherCompensationAmt022644
IRS990/TotalProgramServiceExpensesAmt01046788
IRS990/TotalProgramServiceRevenueAmt0178
IRS990/TotalReportableCompFromOrgAmt075970
IRS990/TotalRevenueGrp/ExclusionAmt07967
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0178
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01825401
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0761870
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01220114
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0725000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0600000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt082 SECOND STREET
IRS990/USAddress/CityNm0YUBA CITY
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd095991
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.AEROSTEM.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KATHY SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05307422531
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AEROSTEM ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0AERO
ReturnHeader/Filer/EIN0320570253
ReturnHeader/Filer/PhoneNum05307422531
ReturnHeader/Filer/USAddress/AddressLine1Txt082 SECOND STREET
ReturnHeader/Filer/USAddress/CityNm0YUBA CITY

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