Civic Intelligence

Sol Aureus College Preparatory

990 • Fiscal year 2019 • EIN 35-2191462

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 15, 2020

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

66th percentile

0.21x

Higher debt load relative to assets than 66% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

64th percentile

0.18x

Higher debt load relative to revenue than 64% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

75th percentile

18%

Higher net margin than 75% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

74th percentile

$114,380

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

81st percentile

22%

Faster asset growth than 81% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

80th percentile

28%

Faster revenue growth than 80% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$3,352,998

Up $605,162 (+22%) from 2018

Net Assets

Up

$2,644,254

Up $689,985 (+35%) from 2018

Liabilities

Down

$708,744

Down $84,823 (-11%) from 2018

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin75th percentile

Revenue

Up

$3,919,432

Up $852,254 (+28%) from 2018

Expenses

Up

$3,229,447

Up $184,001 (+6.0%) from 2018

Net Income

Up

$689,985

Up $668,253 (+3075%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth81st 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

2019

Assets$3,352,998
Liabilities$708,744
Net Assets$2,644,254
Open 2019 Filing

Operations Trend

Revenue Growth80th 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

2019

Revenue$3,919,432
Expenses$3,229,447
Net Income$689,985
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 15, 2020
Return Version
2018v3.1
Gross Receipts
$3,919,432
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
Land, Buildings, and Equipment, Net$1,330,872$1,693,031▲ $362,159
Pledges and Grants Receivable$524,667$1,118,266▲ $593,599
Cash and Non-Interest-Bearing Accounts$851,945$502,679▼ $349,266
Prepaid Expenses and Deferred Charges$38,865$39,022▲ $157
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$2,747,836$3,352,998▲ $605,162
Other Assets Total$1,487$0▼ $1,487
Liabilities
Accounts Payable and Accrued Expenses$793,567$708,744▼ $84,823
Total Liabilities$793,567$708,744▼ $84,823
Net Assets / Fund Balance
Unrestricted Net Assets$1,692,116$2,366,538▲ $674,422
Temporarily Rstr Net Assets$262,153$277,716▲ $15,563
Total Net Assets Fund Balance$1,954,269$2,644,254▲ $689,985
Total Liabilities and Net Assets / Fund Balance$2,747,836$3,352,998▲ $605,162

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,269,469$117,575-
Other Land Buildings$414,761--
Equipment$8,801$16,519-
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Judy YangDirector CurriculumFT$114,380$114,380
Norman HernandezDirector OperationsFT$114,380$114,380

Board Members and Trustees

NameTitle
David MackBoard Chair
Deepak AswaniVice Chair
Deborah Lottmember
Leeann Johnsonmember
Lisa Limcacomember
Norm MarshallMember
Robert J Ferrimanmember
Sarah EllisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,912,911
Program Service Revenue
$6,521
Investment Income
$0
Other Revenue
$0
All Other Contributions
$47,032
Change in Net Assets
$689,985

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,919,432
Total Revenue per Audited Statements
$3,919,432
Total Revenue per Form 990
$3,919,432
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,166,354
Other Expenses$1,063,093
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,308,207$213,204-$1,521,411
Other Employee Benefits$333,020$83,163-$416,183
Occupancy$187,702$46,927-$234,629
Current Officers, Directors, Trustees, and Key Employees$114,380$114,380-$228,760
All Other Expenses$70,992$37,233-$108,225
Depreciation Depletion$68,055$3,582-$71,637
Other Expenses$34,692$5,308-$34,692
Insurance$24,216$6,054-$30,270
Information Technology$20,488$2,280-$22,768
Fees for Services Accounting-$17,300-$17,300
Travel$5,952$1,488-$7,440
Fees for Services Other-$5,950-$5,950
Fees for Services Legal-$2,279-$2,279
Total Functional Expenses$2,690,299$539,148$0$3,229,447

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,229,447
Total Expenses per Audited Statements$3,229,447
Total Expenses per Form 990$3,229,447
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
Director Operations
Signed
2020-07-15
Discuss with paid preparer
Yes

Organization Details

Formed
2003
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
35
Volunteers
28

Preparer

Firm
Nelson & Associates CPAs
Address
9245 Laguna Springs Dr Ste 200, Elk Grove, CA 95758
Preparer
Michelle Nelson CPA CFE MST
Phone
9162996800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Organization, pursuant to a determination letter from the Internal Revenue Service, is exempt from Federal and State income taxes under Section 501(c)(3) of the Internal Revenue code and Section 23701(d) of the California Revenue and Taxation Code.The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Organization and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities at June 30, 2019.”

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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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IRS990/OtherExpensesGrp/TotalAmt171789
IRS990/OtherExpensesGrp/TotalAmt251896
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IRS990/OtherSalariesAndWagesGrp/TotalAmt01521411
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0414761
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization, pursuant to a determination letter from the Internal Revenue Service, is exempt from Federal and State income taxes under Section 501(c)(3) of the Internal Revenue code and Section 23701(d) of the California Revenue and Taxation Code.The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Organization and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities at June 30, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalExpensesPerForm990Amt03229447
IRS990ScheduleD/TotalRevenuePerForm990Amt03919432
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IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
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
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Around 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Principals' compensation is compared to other persons in the same line of work. This process is done and reviewed by the independent board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization makes it governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/StatesWhereCopyOfReturnIsFldCd0CA
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$3,352,998
Liabilities
$708,744
Net assets
$2,644,254
Revenue
$3,919,432
Expenses
$3,229,447
Net income
$689,985
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
2019Detailed filing. Detailed filing data is available for this year.$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