Civic Intelligence

The Pegasus School

990 • Fiscal year 2016 • EIN 33-0162184

Jul 01, 2015 to Jun 30, 2016 • Filed on May 10, 2017

Refreshing map…

19692 Lexington LnHuntington Beach, CA 92646

(714) 964-1224

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.56x

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

75th percentile

0.98x

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

77th percentile

15%

Higher net margin than 77% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

70th percentile

$345,402

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

69th percentile

7.7%

Faster asset growth than 69% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

52nd percentile

3.5%

Faster revenue growth than 52% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Up

$25,196,938

Up $1,802,686 (+7.7%) from 2015

Net Assets

Up

$11,171,284

Up $2,181,306 (+24%) from 2015

Liabilities

Down

$14,025,654

Down $378,620 (-2.6%) from 2015

Revenue

Up

$14,381,621

Up $485,882 (+3.5%) from 2015

Expenses

Up

$12,279,756

Up $60,611 (+0.5%) from 2015

Net Income

Up

$2,101,865

Up $425,271 (+25%) from 2015

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

2016

Assets$25,196,938
Liabilities$14,025,654
Net Assets$11,171,284

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

2016

Revenue$14,381,621
Expenses$12,279,756
Net Income$2,101,865
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 10, 2017
Return Version
2015v3.0
Gross Receipts
$14,565,049
Mission and Program Overview

Mission

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

The pegasus school is an academic community that inspires bright and motivated students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,048,120$12,957,616▼ $90,504
Cash and Non-Interest-Bearing Accounts$5,574,271$7,241,737▲ $1,667,466
Investments in Publicly Traded Securities$3,309,210$3,359,303▲ $50,093
Savings and Temporary Cash Investments$100,025$874,375▲ $774,350
Investments Other Securities$1,080,664$528,812▼ $551,852
Prepaid Expenses and Deferred Charges$129,038$214,082▲ $85,044
Accounts Receivable$26,767$21,013▼ $5,754
Total Assets$23,394,252$25,196,938▲ $1,802,686
Other Assets Total$126,157$0▼ $126,157
Liabilities
Tax Exempt Bond Liabilities$7,537,096$7,084,316▼ $452,780
Deferred Revenue$6,669,781$6,725,061▲ $55,280
Accounts Payable and Accrued Expenses$197,397$216,277▲ $18,880
Total Liabilities$14,404,274$14,025,654▼ $378,620
Net Assets / Fund Balance
Unrestricted Net Assets$4,698,338$6,763,957▲ $2,065,619
Permanently Rstr Net Assets$3,230,023$3,351,823▲ $121,800
Temporarily Rstr Net Assets$1,061,617$1,055,504▼ $6,113
Total Net Assets Fund Balance$8,989,978$11,171,284▲ $2,181,306
Total Liabilities and Net Assets / Fund Balance$23,394,252$25,196,938▲ $1,802,686

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,948,525$5,350,718$10,299,243
Land$6,014,392-$6,014,392
Equipment$1,903,148$1,129,476$3,032,624
Other Land Buildings$91,551$93,363$184,914

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$4,389,874$121,800▲ $150,771-$4,662,445
2014$4,215,295$22,245▲ $175,401$23,067$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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lopez JasonHead of SchoolFT$290,009$55,393$345,402
Cogan ReneCFOFT$181,927$51,297$233,224
Harrison SueDevelopment DirectorFT$136,687$21,410$158,097
Rosenberg DanielMiddle School DirectorFT$140,829$13,972$154,801
Conklin NancyAdmissions DirectorFT$135,947$14,673$150,620
Green JenniferLower School DirectorFT$106,445$38,815$145,260
Conti JamesTeacherFT$106,187$17,244$123,431

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Jfk Transportation Co INCDaily Bus Service980 W 17TH STREET STE B, Santa Ana, CA 92706$196,391
The La Marque Group LLCConstruction Contractor124 POINTE DR, Brea, CA 92821$121,828
Revenue and Support

Revenue Composition

Contributions and Grants
$981,073
Program Service Revenue
$12,476,313
Investment Income
$71,330
Other Revenue
$852,905
All Other Contributions
$672,545
Change in Net Assets
$2,101,865

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,381,621
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-435,905
Total Revenue per Audited Statements
$13,945,716
Total Revenue per Form 990
$14,381,621
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,956,017
Other Expenses$2,808,393
Total Fundraising Expense$596,662
Grants and Similar Amounts Paid$515,346
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,085,657$1,036,150$349,002$6,470,809
Other Employee Benefits$781,128$111,093$55,104$947,325
Current Officers, Directors, Trustees, and Key Employees$173,085$367,401$69,234$609,720
Grants to Domestic Individuals$515,346--$515,346
Payroll Taxes$397,867$90,171$20,038$508,076
Depreciation Depletion$370,252$85,443$18,987$474,682
Pension Plan Contributions$320,538$70,656$28,893$420,087
Occupancy$314,383$69,819$15,515$399,717
Interest$232,778--$232,778
Office Expenses$131,532$87,219$6,745$225,496
Insurance$172,638$39,840$8,853$221,331
All Other Expenses$187,233$6,790$1,509$195,532
Travel$182,532$146$33$182,711
Information Technology$118,458$27,336$6,075$151,869
Advertising$71,363$29,163$16,674$117,200
Fees for Services Legal-$77,157-$77,157
Fees for Services Other-$32,436-$32,436
Other Expenses$26,830--$26,830
Fees for Services Management-$23,304-$23,304
Fees for Services Accounting-$16,394-$16,394
Total Functional Expenses$9,512,576$2,170,518$596,662$12,279,756

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$12,279,756
Expenses per Audited Statements$11,764,410
Total Expenses per Audited Statements$11,764,410
Expenses Not Reported on Financial Statements$515,346
Other Expense Adjustments$515,346
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$359,266
Fundraising Direct Expenses$183,428
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Benefit$644,804$338,801$68,692$270,109
Golf Soiree$22,990$20,465$5,049$15,416
Total Events$667,794$359,266$183,428$175,838
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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$856,448$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
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 A, Line 1

The executive board consists of six members representing the committee chairs.

Form 990, Part VI, Section B, Line 11

Form 990 is reviewed by the executive board 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 15

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 is performed every spring.

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 LN, HUNTINGTON BEACH, CA 92646

Signing Officer

Name
Rene Cogan
Title
CFO
Phone
7149641224
Signed
2017-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Lopez
Formed
1986
Legal Domicile
CA
Voting Board Members
19
Independent Board Members
18
Employees
175
Volunteers
50

Preparer

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

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 -515,346.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 515,346.

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Filings

Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $25M-$50M nonprofits