Civic Intelligence

Sol Aureus College Preparatory

990 • Fiscal year 2015 • EIN 35-2191462

Jul 01, 2014 to Jun 30, 2015 • Filed on Mar 23, 2016

Organization Profilewww.sacprep.org
6620 Gloria DriveSacramento, CA 95831

(916) 421-0600

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.22x

Higher debt load relative to assets than 63% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

57th percentile

0.15x

Higher debt load relative to revenue than 57% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

78th percentile

19%

Higher net margin than 78% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

65th percentile

$90,321

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

93rd percentile

62%

Faster asset growth than 93% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

73rd percentile

17%

Faster revenue growth than 73% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$1,442,805

Up $552,559 (+62%) from 2014

Net Assets

Up

$1,119,674

Up $364,662 (+48%) from 2014

Liabilities

Up

$323,131

Up $187,897 (+139%) from 2014

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin78th percentile

Revenue

Up

$2,110,437

Up $310,080 (+17%) from 2014

Expenses

Up

$1,706,175

Up $298,042 (+21%) from 2014

Net Income

Up

$404,262

Up $12,038 (+3.1%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$6.0M$4.0M$2.0M$0Assets 2013: $679,309Liabilities 2013: $316,521Net Assets 2013: $362,7882013Assets 2014: $890,246Liabilities 2014: $135,234Net Assets 2014: $755,0122014Assets 2015: $1,442,805Liabilities 2015: $323,131Net Assets 2015: $1,119,6742015Assets 2016: $1,902,070Liabilities 2016: $342,258Net Assets 2016: $1,559,8122016Assets 2017: $2,301,860Liabilities 2017: $369,323Net Assets 2017: $1,932,5372017Assets 2018: $2,747,836Liabilities 2018: $793,567Net Assets 2018: $1,954,2692018Assets 2019: $3,352,998Liabilities 2019: $708,744Net Assets 2019: $2,644,2542019Assets 2020: $4,034,356Liabilities 2020: $788,176Net Assets 2020: $3,246,1802020Assets 2021: $5,035,072Liabilities 2021: $1,410,848Net Assets 2021: $3,624,2242021Assets 2022: $4,248,061Liabilities 2022: $916,943Net Assets 2022: $3,331,1182022

Highlighted filing

2015

Assets$1,442,805
Liabilities$323,131
Net Assets$1,119,674
Open 2015 Filing

Operations Trend

Revenue Growth73rd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2013: $1,224,8562013Revenue 2014: $1,800,357Expenses 2014: $1,408,133Net Income 2014: $392,2242014Revenue 2015: $2,110,437Expenses 2015: $1,706,175Net Income 2015: $404,2622015Revenue 2016: $2,570,422Expenses 2016: $2,130,284Net Income 2016: $440,1382016Revenue 2017: $2,712,577Expenses 2017: $2,339,852Net Income 2017: $372,7252017Revenue 2018: $3,067,178Expenses 2018: $3,045,446Net Income 2018: $21,7322018Revenue 2019: $3,919,432Expenses 2019: $3,229,447Net Income 2019: $689,9852019Revenue 2020: $4,061,359Expenses 2020: $3,459,433Net Income 2020: $601,9262020Revenue 2021: $4,190,255Expenses 2021: $3,812,211Net Income 2021: $378,0442021Revenue 2022: $4,148,314Expenses 2022: $4,441,420Net Income 2022: -$293,1062022

Highlighted filing

2015

Revenue$2,110,437
Expenses$1,706,175
Net Income$404,262
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Mar 23, 2016
Return Version
2014v6.0
Gross Receipts
$2,110,437
Mission and Program Overview

Mission

A state public charter school whose purpose is to prepare its students with the knowledge, skills, and habits necessary to compete and be successful in college and in life.

A state public charter school who's purpose is to prepare its students with the knowledge, skills, and habits necessary to compete and be successful in college and in life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$549,650$949,039▲ $399,389
Pledges and Grants Receivable$324,146$456,292▲ $132,146
Prepaid Expenses and Deferred Charges$10,927$25,527▲ $14,600
Land, Buildings, and Equipment, Net$5,523$11,947▲ $6,424
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$890,246$1,442,805▲ $552,559
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$135,234$323,131▲ $187,897
Total Liabilities$135,234$323,131▲ $187,897
Net Assets / Fund Balance
Unrestricted Net Assets$697,030$1,064,088▲ $367,058
Temporarily Rstr Net Assets$57,982$55,586▼ $2,396
Total Net Assets Fund Balance$755,012$1,119,674▲ $364,662
Total Liabilities and Net Assets / Fund Balance$890,246$1,442,805▲ $552,559

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,947$4,538-
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Norman HernandezDirector OperationsFT$90,321$90,321
Judy YangDirector CurriculumFT$88,259$88,259

Board Members and Trustees

NameTitle
Pam SaltenbergerPresident
Jeffery Javinar JDVice President
Alice McAuliffeDirector
David MackDirector
Deborah LoftDirector
Deepak AswaniDirector
Deniqua SmithDirector
Robert J FerrimanDirector
Sarah EllisDirector
Virginia HargraveDirector
Nancy LawrenceSecretary
Sarah EllisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,106,445
Program Service Revenue
$3,992
Investment Income
$0
Other Revenue
$0
All Other Contributions
$36,804
Change in Net Assets
$404,262

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,110,437
Total Revenue per Audited Statements
$2,110,437
Total Revenue per Form 990
$2,110,437
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,050,376
Other Expenses$655,799
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$620,411$72,541-$692,952
Other Employee Benefits$152,068$32,106-$184,174
Current Officers, Directors, Trustees, and Key Employees$86,625$86,625-$173,250
Occupancy$124,256$31,064-$155,320
All Other Expenses$52,289$30,090-$82,379
Other Expenses$36,455$7,870-$36,455
Insurance$20,318$5,080-$25,398
Fees for Services Accounting-$16,800-$16,800
Information Technology$8,182$655-$8,837
Fees for Services Other$2,382$3,572-$5,954
Depreciation Depletion$2,796$699-$3,495
Fees for Services Legal-$2,170-$2,170
Travel$233$58-$291
Advertising$80--$80
Total Functional Expenses$1,410,482$295,693$0$1,706,175

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,706,175
Total Expenses per Audited Statements$1,706,175
Total Expenses per Form 990$1,706,175
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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, Line 11B: Form 990 Review Process

“The 990 is reviewed by the Finance Committee and the full board annually; Typically in the spring as it coincides with the tax filing and the board's annual retreat. A member of the finance committee is responsible for facilitating the completion of the 990 review, reviewing elements of the 990, and highlighting any changes since the last filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Around the time of the board retreat, the Conflict of Interest is reviewed by the full board. Members are asked to read and sign the agreement signifying that they have received, read, and reviewed the policy. Any contract or agreement is reviewed by the board before the director is allowed to execute an agreement. During the review process by the board, all members of the board, particularly the board chair and finance committee, are empowered to and regularly ask questions regarding potential conflict of interest. Most school business rarely, if ever, involve any overlapping relationships that would fall under the conflict of interest policy.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Principals' compensation is compared to other persons in the same line of work. This process is done and reviewed by the independent board.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The Organization makes it governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Sol Aureus College Preparatory
EIN
35-2191462
Phone
9164210600
Address
6620 Gloria Drive, Sacramento, CA 95831

Signing Officer

Name
Norman Hernandez
Title
Executive Director
Signed
2016-03-23
Discuss with paid preparer
Yes

Organization Details

Formed
2003
Legal Domicile
CA
Voting Board Members
12
Independent Board Members
12
Employees
23
Volunteers
20

Preparer

Firm
MANN URRUTIA NELSON CPAs & ASSOC LLP
Address
2901 Douglas Blvd Suite 290, Roseville, CA 95661-3824
Preparer
Michelle O Nelson CPA
Phone
9167744208
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“SAC Prep is a tax-exempt organization, under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the California Revenue and Taxation Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. However, SAC Prep files, when necessary, unrelated business income tax returns. SAC Prep has accounted for uncertainty in income taxes as required by the Accounting for Uncertainty in Income Taxes topic of the FASB Accounting Standards Codification. SAC Prep uses a comprehensive model for recognizing, and measuring, presenting and disclosing in the financial statements tax positions taken or expected to be taken on a tax return. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. The effect of applying this model and the resulting identification of uncertain tax positions, if any, were not considered significant for financial reporting purposes.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt13Dir. Curriculum
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IRS990/MissionDesc0A state public charter school who's purpose is to prepare its students with the knowledge, skills, and habits necessary to compete and be successful in college and in life.
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IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SAC Prep is a tax-exempt organization, under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the California Revenue and Taxation Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. However, SAC Prep files, when necessary, unrelated business income tax returns. SAC Prep has accounted for uncertainty in income taxes as required by the Accounting for Uncertainty in Income Taxes topic of the FASB Accounting Standards Codification. SAC Prep uses a comprehensive model for recognizing, and measuring, presenting and disclosing in the financial statements tax positions taken or expected to be taken on a tax return. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. The effect of applying this model and the resulting identification of uncertain tax positions, if any, were not considered significant for financial reporting purposes.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0During the Enrollment Process, Sol Aureus College Preparatory notifies all potential candidates and their parents in the "Admission Requirements Document" the following:Sol Aureus is a free public school that is open to all residents of the State of California. Sol Aureus does not discriminate on the basis of race, religion, gender, sexual orientation, national origin, disbility or any of the characteristics listed in Section 220 of the Education Code of the students and parents or guardians.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,442,805
Liabilities
$323,131
Net assets
$1,119,674
Revenue
$2,110,437
Expenses
$1,706,175
Net income
$404,262
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.25$0.92$3.33$4.15$4.44$0.29
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.04$1.41$3.62$4.19$3.81$0.38
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.03$0.79$3.25$4.06$3.46$0.60
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.35$0.71$2.64$3.92$3.23$0.69
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.75$0.79$1.95$3.07$3.05$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.30$0.37$1.93$2.71$2.34$0.37
2016Detailed filing. Detailed filing data is available for this year.$1.90$0.34$1.56$2.57$2.13$0.44
2015Detailed filing. Detailed filing data is available for this year.$1.44$0.32$1.12$2.11$1.71$0.40
2014Detailed filing. Detailed filing data is available for this year.$0.89$0.14$0.76$1.80$1.41$0.39
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.68$0.32$0.36$1.22