Civic Intelligence

Laverne Elementary Preparartory Academy Foundation

990 • Fiscal year 2021 • EIN 37-1854710

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 04, 2021

Organization ProfileN/A
9966 I AveHesperia, CA 92345

(760) 948-4333

Siviq Scores

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

Liabilities / Assets

90th percentile

0.88x

Higher debt load relative to assets than 90% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

93rd percentile

4.06x

Higher debt load relative to revenue than 93% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

95th percentile

77%

Higher net margin than 95% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

54th percentile

12%

Faster asset growth than 54% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

99th percentile

2592%

Faster revenue growth than 99% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$13,282,034

Up $1,391,088 (+12%) from 2020

Net Assets

Up

$1,538,803

Up $2,232,561 (+322%) from 2020

Liabilities

Down

$11,743,231

Down $841,473 (-6.7%) from 2020

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin95th percentile

Revenue

Up

$2,895,334

Up $2,787,789 (+2592%) from 2020

Expenses

Up

$662,773

Up $1 (+0.0%) from 2020

Net Income

Up

$2,232,561

Up $2,787,788 (+502%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2017: $1Liabilities 2017: $0Net Assets 2017: $02017Assets 2018: $1Liabilities 2018: $02018Assets 2019: $11,766,317Liabilities 2019: $11,904,848Net Assets 2019: -$138,5312019Assets 2020: $11,890,946Liabilities 2020: $12,584,704Net Assets 2020: -$693,7582020Assets 2021: $13,282,034Liabilities 2021: $11,743,231Net Assets 2021: $1,538,8032021

Highlighted filing

2021

Assets$13,282,034
Liabilities$11,743,231
Net Assets$1,538,803
Open 2021 Filing

Operations Trend

Revenue Growth99th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: $0Expenses 2018: $0Net Income 2018: $02018Revenue 2019: $71,203Expenses 2019: $209,734Net Income 2019: -$138,5312019Revenue 2020: $107,545Expenses 2020: $662,772Net Income 2020: -$555,2272020Revenue 2021: $2,895,334Expenses 2021: $662,773Net Income 2021: $2,232,5612021

Highlighted filing

2021

Revenue$2,895,334
Expenses$662,773
Net Income$2,232,561
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 4, 2021
Return Version
2020v4.0
Gross Receipts
$2,895,334
Mission and Program Overview

Mission

Educational and facilities support for laverne elementary preparatory academy

Provide supplemental education and facilites financial support for laverne elementary preparatory academy

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$12,345,967-
Land, Buildings, and Equipment, Net$10,954,961--
Savings and Temporary Cash Investments$935,985$936,067▲ $82
Total Assets$11,890,946$13,282,034▲ $1,391,088
Liabilities
Tax Exempt Bond Liabilities$11,900,897$11,743,231▼ $157,666
Deferred Revenue$683,807--
Total Liabilities$12,584,704$11,743,231▼ $841,473
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-693,758$1,538,803▲ $2,232,561
Total Net Assets Fund Balance$-693,758$1,538,803▲ $2,232,561
Total Liabilities and Net Assets / Fund Balance$11,890,946$13,282,034▲ $1,391,088
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Debra TarverCEO
Dan LeeCFO
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$114
Other Revenue
$2,895,220
Change in Net Assets
$2,232,561
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$662,773
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$615,438--$615,438
Depreciation Depletion$47,335--$47,335
Total Functional Expenses$662,773$0$0$662,773
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
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACharter School Lease Revenue Bonds2019-02-14$12,080,000FACILITIES PURCHASE

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A---$415,667

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
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
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“REQUEST FROM LEPA”

Filing and Contact Details

Filer

Filer Name
Laverne Elementary Prep Academy
EIN
37-1854710
Address
9966 I AVE, HESPERIA, CA 92345

Signing Officer

Name
Debra Tarver
Title
CEO
Phone
7609484333
Signed
2021-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Debra Tarver
Formed
2017
Legal Domicile
CA
Voting Board Members
2
Independent Board Members
2
Employees
0

Preparer

Firm
Silva & Silva Cpas
Address
3040 SATURN ST SUITE 107, BREA, CA 92821
Preparer
Lisa Silva CPA
Phone
7145297707
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ReturnHeader/Filer/BusinessNameControlTxt0LAVE
ReturnHeader/Filer/EIN0371854710
ReturnHeader/Filer/USAddress/AddressLine1Txt09966 I AVE
ReturnHeader/Filer/USAddress/CityNm0HESPERIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092345
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0952803203
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SILVA & SILVA CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03040 SATURN ST SUITE 107
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BREA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092821
ReturnHeader/PreparerPersonGrp/PhoneNum07145297707
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LISA SILVA CPA
ReturnHeader/ReturnTs02021-11-11T14:54:19-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DEBRA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TARVER
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,282,034
Liabilities
$11,743,231
Net assets
$1,538,803
Revenue
$2,895,334
Expenses
$662,773
Net income
$2,232,561
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$13.3$11.7$1.54$2.90$0.66$2.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.9$12.6$0.69$0.11$0.66$0.56
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.8$11.9$0.14$0.07$0.21$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.00$0.00