Civic Intelligence

The Pegasus School

990 • Fiscal year 2015 • EIN 33-0162184

Jul 01, 2014 to Jun 30, 2015 • Filed on May 13, 2016

19692 Lexington LaneHuntington Beach, CA 92646-3734

(714) 964-1224

Siviq Scores

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

Liabilities / Assets

77th percentile

0.62x

Higher debt load relative to assets than 77% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

79th percentile

1.04x

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

71st percentile

12%

Higher net margin than 71% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

45th percentile

$160,000

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

76th percentile

10%

Faster asset growth than 76% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

69th percentile

11%

Faster revenue growth than 69% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Assets

Up

$23,394,252

Up $2,208,821 (+10%) from 2014

Net Assets

Up

$8,989,978

Up $1,784,563 (+25%) from 2014

Liabilities

Up

$14,404,274

Up $424,258 (+3.0%) from 2014

Revenue

Up

$13,895,739

Up $1,373,622 (+11%) from 2014

Expenses

Down

$12,219,145

Down $127,063 (-1.0%) from 2014

Net Income

Up

$1,676,594

Up $1,500,685 (+853%) from 2014

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2013: $21,108,467Liabilities 2013: $14,472,491Net Assets 2013: $6,635,9762013Assets 2014: $21,185,431Liabilities 2014: $13,980,016Net Assets 2014: $7,205,4152014Assets 2015: $23,394,252Liabilities 2015: $14,404,274Net Assets 2015: $8,989,9782015Assets 2016: $25,196,938Liabilities 2016: $14,025,654Net Assets 2016: $11,171,2842016Assets 2018: $29,514,589Liabilities 2018: $14,477,045Net Assets 2018: $15,037,5442018Assets 2019: $36,209,562Liabilities 2019: $15,046,836Net Assets 2019: $21,162,7262019Assets 2020: $51,265,458Liabilities 2020: $27,059,578Net Assets 2020: $24,205,8802020Assets 2021: $52,646,483Liabilities 2021: $23,860,515Net Assets 2021: $28,785,9682021Assets 2022: $54,527,275Liabilities 2022: $22,217,685Net Assets 2022: $32,309,5902022

Highlighted filing

2015

Assets$23,394,252
Liabilities$14,404,274
Net Assets$8,989,978

Operations Trend

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

$30M$20M$10M$0Expenses 2013: $12,221,3602013Revenue 2014: $12,522,117Expenses 2014: $12,346,208Net Income 2014: $175,9092014Revenue 2015: $13,895,739Expenses 2015: $12,219,145Net Income 2015: $1,676,5942015Revenue 2016: $14,381,621Expenses 2016: $12,279,756Net Income 2016: $2,101,8652016Revenue 2018: $15,203,782Expenses 2018: $13,393,500Net Income 2018: $1,810,2822018Revenue 2019: $20,064,273Expenses 2019: $14,157,603Net Income 2019: $5,906,6702019Revenue 2020: $17,743,494Expenses 2020: $14,783,559Net Income 2020: $2,959,9352020Revenue 2021: $19,026,737Expenses 2021: $15,622,625Net Income 2021: $3,404,1122021Revenue 2022: $21,107,992Expenses 2022: $16,341,015Net Income 2022: $4,766,9772022

Highlighted filing

2015

Revenue$13,895,739
Expenses$12,219,145
Net Income$1,676,594
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 13, 2016
Return Version
2014v6.0
Gross Receipts
$14,063,469
Mission and Program Overview

Mission

The pegasus school is dedicated to academic excellence and to the development of lifelong learners.

The pegasus school is dedicated to academic excellence and to the development of lifelong learners who are confident, careing and courageous.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,166,510$13,048,120▼ $118,390
Cash and Non-Interest-Bearing Accounts$3,063,642$5,574,271▲ $2,510,629
Investments in Publicly Traded Securities$3,092,335$4,389,874▲ $1,297,539
Investments Other Securities$1,122,960--
Prepaid Expenses and Deferred Charges$159,863$129,038▼ $30,825
Savings and Temporary Cash Investments$175,963$100,025▼ $75,938
Receivables From Officers Etc$80,000$0▼ $80,000
Accounts Receivable$69,169$26,767▼ $42,402
Total Assets$21,185,431$23,394,252▲ $2,208,821
Other Assets Total$254,989$126,157▼ $128,832
Liabilities
Tax Exempt Bond Liabilities$7,862,113$7,537,096▼ $325,017
Deferred Revenue$5,924,166$6,669,781▲ $745,615
Accounts Payable and Accrued Expenses$193,737$197,397▲ $3,660
Total Liabilities$13,980,016$14,404,274▲ $424,258
Net Assets / Fund Balance
Unrestricted Net Assets$3,030,307$4,698,338▲ $1,668,031
Permanently Rstr Net Assets$3,230,023$3,230,023→ $0
Temporarily Rstr Net Assets$945,085$1,061,617▲ $116,532
Total Net Assets Fund Balance$7,205,415$8,989,978▲ $1,784,563
Total Liabilities and Net Assets / Fund Balance$21,185,431$23,394,252▲ $2,208,821

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,477,240$3,625,535$10,102,775
Land$6,014,392-$6,014,392
Equipment$555,538$2,480,760$3,036,298
Other Land Buildings$950-$950

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$4,215,295$22,245▲ $175,401$822$4,389,874
2013$3,744,255-▲ $471,040-$4,215,295
2012$3,484,275-▲ $339,595$79,615$3,744,255
2011$3,342,799-▲ $163,976$22,500$3,484,275
2010$2,554,191$575,000▲ $213,608-$3,342,799
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jason LopezHead of School (since July 2014)FT$147,364$12,636$160,000
John ZurnHead of School (term July 2014)FT$125,829$26,608$152,437
Nancy ConklinAdmissions DirectorFT$133,292$2,975$136,267
Daniel RosenbergMiddle School DirectorFT$131,551$3,669$135,220
Sue HarrisonDevelopment DirectorFT$129,801$4,190$133,991
James ContiTeacherFT$105,971$5,280$111,251

Board Members and Trustees

NameTitle
Robert RiedlChair
Mike SmithVice-chair
Brian CullenTrustee
Carl KawabeTrustee
Cheryl LavenTrustee
Darin AndersonTrustee
Gary AllhusenTrustee
Gary RothTrustee
Julie FishmanTrustee
Michael MulroyTrustee
Mohamed El-erianTrustee
Rod TrujilloTrustee
Wendy BushTrustee
Zach FischerTrustee
Rene CoganTrustee(until Jan15)/CFO(since Feb15)

Highest Paid Contractors

ContractorServicesLocationCompensation
Fairway Investment Management LLCContracted Financial Services34 ROLLINGWOOD DRIVE, Rolling Hills, CA 90274$208,640
Jfk Transportation Co INCTransportation Services980 W 17TH STREET STE B, Santa Ana, CA 92706$192,900
Carothers Disante & FreudenbergerLegal Services2600 MICHELSON DRIVE STE 800, Irvine, CA 92612$168,570
Revenue and Support

Revenue Composition

Contributions and Grants
$1,002,347
Program Service Revenue
$11,927,499
Investment Income
$67,432
Other Revenue
$898,461
All Other Contributions
$845,289
Change in Net Assets
$1,676,594

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,895,739
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-452,756
Total Revenue per Audited Statements
$13,442,983
Total Revenue per Form 990
$13,895,739
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,687,471
Other Expenses$2,928,727
Grants and Similar Amounts Paid$602,947
Total Fundraising Expense$516,632
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,073,568$1,084,976$333,061$6,491,605
Other Employee Benefits$757,786$135,293$47,126$940,205
Grants to Domestic Individuals$602,947--$602,947
Payroll Taxes$377,569$91,280$16,596$485,445
Depreciation Depletion$363,400$95,439$15,974$474,813
Pension Plan Contributions$446,196$840$11,480$458,516
Occupancy$270,711$65,447$11,899$348,057
Current Officers, Directors, Trustees, and Key Employees$155,850$93,510$62,340$311,700
Interest$241,806--$241,806
Insurance$169,070$40,873$7,431$217,374
Fees for Services Legal-$197,966-$197,966
Fees for Services Other$107,947$44,806$4,744$157,497
Office Expenses$59,376$42,339$2,609$104,324
Information Technology$27,917$74,129$1,227$103,273
All Other Expenses$18,488$45,481$813$64,782
Fees for Services Accounting-$57,599-$57,599
Other Expenses$38,183$40,924$122$38,183
Advertising$27,043$6,538$1,189$34,770
Travel$474$115$21$610
Total Functional Expenses$9,584,958$2,117,555$516,632$12,219,145

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$12,219,145
Total Expenses per Audited Statements$11,658,420
Expenses per Audited Statements$11,616,198
Expenses Not Reported on Financial Statements$602,947
Other Expense Adjustments$602,947
Expenses Not Reported on Form 990$42,222
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$414,023
Fundraising Direct Expenses$167,730
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Benefit$497,939$341,447$54,108$287,339
Golf Tournament$23,126$22,560$15,845$6,715
Total Events$521,065$364,007$141,056$222,951
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 Officers, Directors, Trustees, and Key Employees$80,000$0▼ $80,000
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia Municipal Finance Authority2012-10-01$8,059,500REFINANCE PREVIOUS BONDS

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$8,059,500$7,476,530-$134,465

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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
Yes
Other officer compensation reviewed
No
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 A, Line 8B

The organization does not have any committees that have authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11

The form 990 is reviewed by executive committee of the board of trustee before being filed.

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

Any officer, trustee/director, or employee (including faculty and staff) or committee member shall make a prompt, full and frank disclosure of his or her interest to the chair, board of trustees/directors, or relevant committee prior to its acting on such contract or transaction. The board of trustees/directors or the head of school in the case of an employee, to which such disclosure is made shall thereupon determine, considering in its or his or her discretion the advice of legal counsel, whether the disclosure shows that a conflict of interest exists or can be construed to exist. If a conflict is deemed to exist, such person shall not vote on, nor use his or her personal influence on, nor participate (other than to present factual information or to respond to questions) in the discussions or deliberations or board vote with respect to such contract or transaction. The minutes of the meeting shall reflect the disclosure made, the vote thereon, and, where applicable, the abstention from voting and participation, and whether a quorum was present. Conflict of interest policy is stated in the personnel handbook for employees who are to sign an acknowledgement stating they have read and will comply with the policies covered by the employee handbook. Members of the board of trustees however are to sign an annual document identifying and notifying the governing board of any possible conflict of interest.

Form 990, Part VI, Section B, Line 15A

The school reviews comparative compensation from comparable national and local organizations when determining compensation. The board sets the head of school contract the head of school uses comparable data in setting the compensation of the other officers. The entire board reviews and approves the compensation of the head of school and the process is documented in the board minutes. Such review and approval shall occur annually, whenever the head's term of employment is renewed or extended, and the the head's compensation is modified. The process was last conducted in july 2014 for the head of school.

Form 990, Part VI, Section C, Line 19

The school's financial statements and conflict of interest policy form are available from the school upon request.

Filing and Contact Details

Filer

Filer Name
The Pegasus School
EIN
33-0162184
Phone
7149641224
Address
19692 LEXINGTON LANE, HUNTINGTON BEACH, CA 92646-3734

Signing Officer

Name
Rene Cogan
Title
CFO
Phone
7149641224
Signed
2016-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Lopez
Formed
1986
Legal Domicile
CA
Voting Board Members
14
Independent Board Members
14
Employees
183
Volunteers
50

Preparer

Firm
Cliftonlarsonallen Llp
Address
301 N LAKE AVE SUITE 900, PASADENA, CA 91101
Preparer
Bared Dilacar
Phone
6267933600
Supplemental Narrative

Additional Explanations

Part XII, Lince 2C

Process has not changed from previous years.

Financial Statement Notes

PART V, LINE 4:

The pegasus vision fund was established to ensure the continued development of the school. The fund for innovation in teaching (fit) was established to support advances in classroom teaching that will benefit teachers and students alike. The bright stars fund is a tuition assistance fund that focuses on attracting and retaining the brightest students who may not otherwise be able to attend the pegasus school for financial reasons.

PART X, LINE 2:

The school has been granted exemption from income tax under sections 501(c)(3) of the internal revenue code and 23701(d) of the california revenue and taxation code. Accounting principles generally accepted in the united states of america provide accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. Management has considered its tax positions and believes all of the positions taken by the school are more likely than not to be sustained upon examination. The returns are subject to examination by federal and state taxing authorities generally three and four years, respectively, after they are filed.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

FINANCIAL AID -602,947.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 602,947.

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IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt173669
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt184190
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt195280
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IRS990/Form990PartVIISectionAGrp/PersonNm1MIKE SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm2GARY ALLHUSEN
IRS990/Form990PartVIISectionAGrp/PersonNm3DARIN ANDERSON
IRS990/Form990PartVIISectionAGrp/PersonNm4WENDY BUSH
IRS990/Form990PartVIISectionAGrp/PersonNm5RENE COGAN
IRS990/Form990PartVIISectionAGrp/PersonNm6BRIAN CULLEN
IRS990/Form990PartVIISectionAGrp/PersonNm7MOHAMED EL-ERIAN
IRS990/Form990PartVIISectionAGrp/PersonNm8ZACH FISCHER
IRS990/Form990PartVIISectionAGrp/PersonNm9JULIE FISHMAN
IRS990/Form990PartVIISectionAGrp/PersonNm10CARL KAWABE
IRS990/Form990PartVIISectionAGrp/PersonNm11CHERYL LAVEN
IRS990/Form990PartVIISectionAGrp/PersonNm12MICHAEL MULROY
IRS990/Form990PartVIISectionAGrp/PersonNm13GARY ROTH
IRS990/Form990PartVIISectionAGrp/PersonNm14ROD TRUJILLO
IRS990/Form990PartVIISectionAGrp/PersonNm15JASON LOPEZ
IRS990/Form990PartVIISectionAGrp/PersonNm16NANCY CONKLIN
IRS990/Form990PartVIISectionAGrp/PersonNm17DANIEL ROSENBERG
IRS990/Form990PartVIISectionAGrp/PersonNm18SUE HARRISON
IRS990/Form990PartVIISectionAGrp/PersonNm19JAMES CONTI
IRS990/Form990PartVIISectionAGrp/PersonNm20JOHN ZURN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE(UNTIL JAN15)/CFO(SINCE FEB15)
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15HEAD OF SCHOOL (SINCE JULY 2014)
IRS990/Form990PartVIISectionAGrp/TitleTxt16ADMISSIONS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17MIDDLE SCHOOL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DEVELOPMENT DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19TEACHER
IRS990/Form990PartVIISectionAGrp/TitleTxt20HEAD OF SCHOOL (TERM JULY 2014)
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IRS990/FormationYr01986
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IRS990/FSAuditedInd01
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE PEGASUS SCHOOL IS DEDICATED TO ACADEMIC EXCELLENCE AND TO THE DEVELOPMENT OF LIFELONG LEARNERS WHO ARE CONFIDENT, CARING AND COURAGEOUS.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0129038
IRS990/PrincipalOfficerNm0JASON LOPEZ
IRS990/ProfessionalFundraisingInd00

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