Civic Intelligence

Chaps Academy Inc

990 • Fiscal year 2017 • EIN 45-0530019

Jan 01, 2017 to Dec 31, 2017 • Filed on Sep 12, 2018

N5367 Mayflower RoadShiocton, WI 54170

(920) 986-3003

Siviq Scores

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

Liabilities / Assets

78th percentile

0.32x

Higher debt load relative to assets than 78% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

85th percentile

0.51x

Higher debt load relative to revenue than 85% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

7th percentile

-38%

Higher net margin than 7% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

68th percentile

$55,385

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 9.2% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

10th percentile

-17%

Faster asset growth than 10% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

6th percentile

-40%

Faster revenue growth than 6% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Down

$953,347

Down $201,423 (-17%) from 2016

Net Assets

Down

$644,435

Down $229,467 (-26%) from 2016

Liabilities

Up

$308,912

Up $28,044 (+10.0%) from 2016

Revenue

Down

$602,325

Down $394,498 (-40%) from 2016

Expenses

Down

$831,792

Down $223,928 (-21%) from 2016

Net Income

Down

-$229,467

Down $170,570 (-290%) from 2016

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,510,215Liabilities 2010: $276,229Net Assets 2010: $1,233,9862010Assets 2011: $1,414,825Liabilities 2011: $175,694Net Assets 2011: $1,239,1312011Assets 2012: $1,367,090Liabilities 2012: $135,378Net Assets 2012: $1,231,7122012Assets 2013: $960,543Liabilities 2013: $174,005Net Assets 2013: $786,5382013Assets 2014: $1,141,885Liabilities 2014: $387,424Net Assets 2014: $754,4612014Assets 2015: $1,169,348Liabilities 2015: $236,549Net Assets 2015: $932,7992015Assets 2016: $1,154,770Liabilities 2016: $280,868Net Assets 2016: $873,9022016Assets 2017: $953,347Liabilities 2017: $308,912Net Assets 2017: $644,4352017

Highlighted filing

2017

Assets$953,347
Liabilities$308,912
Net Assets$644,435

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $467,0652010Revenue 2011: $889,852Expenses 2011: $884,707Net Income 2011: $5,1452011Revenue 2012: $990,125Expenses 2012: $997,544Net Income 2012: -$7,4192012Revenue 2013: $938,959Expenses 2013: $1,150,214Net Income 2013: -$211,2552013Revenue 2014: $1,320,812Expenses 2014: $1,381,504Net Income 2014: -$60,6922014Revenue 2015: $1,556,496Expenses 2015: $1,378,158Net Income 2015: $178,3382015Revenue 2016: $996,823Expenses 2016: $1,055,720Net Income 2016: -$58,8972016Revenue 2017: $602,325Expenses 2017: $831,792Net Income 2017: -$229,4672017

Highlighted filing

2017

Revenue$602,325
Expenses$831,792
Net Income-$229,467
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Sep 12, 2018
Return Version
2017v2.3
Gross Receipts
$602,325
Mission and Program Overview

Mission

To serve children and families dealing with emotional and/orbehavioral difficulties through the use of equine-assisted activities.

To serve children and families dealing with emotional and/or behavioral difficulties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$860,895$814,156▼ $46,739
Loans From Officers Directors$180,181$247,506▲ $67,325
Accounts Receivable$62,999$61,933▼ $1,066
Cash and Non-Interest-Bearing Accounts$67,819$49,620▼ $18,199
Investments in Publicly Traded Securities$5,245$6,108▲ $863
Pledges and Grants Receivable$48,840$5,000▼ $43,840
Prepaid Expenses and Deferred Charges$657$0▼ $657
Total Assets$1,154,770$953,347▼ $201,423
Other Assets Total$108,315$16,530▼ $91,785
Liabilities
Accounts Payable and Accrued Expenses$45,362$61,406▲ $16,044
Unsecured Notes Loans Payable$55,325$0▼ $55,325
Total Liabilities$280,868$308,912▲ $28,044
Net Assets / Fund Balance
Unrestricted Net Assets$711,747$589,249▼ $122,498
Temporarily Rstr Net Assets$157,155$50,186▼ $106,969
Permanently Rstr Net Assets$5,000$5,000→ $0
Total Net Assets Fund Balance$873,902$644,435▼ $229,467
Total Liabilities and Net Assets / Fund Balance$1,154,770$953,347▼ $201,423

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$749,323$367,668$1,116,991
Equipment$29,946$69,322$99,268
Land$34,115-$34,115
Other Land Buildings$772$1,755$2,527

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$5,245-▲ $863-$6,108
2016$4,906-▲ $339-$5,245
2015-$5,000▼ $94-$4,906
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kelly WisnefskeFormer Executive DirectorFT$55,385$55,385
Kristin LoweExecutive DirectorFT$14,972$14,972

Board Members and Trustees

NameTitle
Mary DownsPresident
Carla BuboltzBoard Member
Dan BeganBoard Member
Erin TyinkBoard Member
Tom ProsserBoard Member
Jon FischerSecretary
Joan HutchisonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$255,351
Program Service Revenue
$346,035
Investment Income
$939
Other Revenue
$0
All Other Contributions
$255,351
Change in Net Assets
$-229,467
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$564,535
Other Expenses$267,257
Total Fundraising Expense$31,721
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$289,475$143,317$18,033$450,825
Current Officers, Directors, Trustees, and Key Employees$45,176$22,367$2,814$70,357
Depreciation Depletion-$60,259-$60,259
Occupancy$41,965$5,512$1,427$48,904
Payroll Taxes$27,837$13,781$1,735$43,353
Fees for Services Accounting$25,445$2,549$1,676$29,670
Insurance$16,307$1,321$926$18,554
Office Expenses$7,582$6,944$3,376$17,902
Fees for Services Other$4,734$475$312$5,521
Interest-$4,084-$4,084
Other Expenses$2,695$273$184$3,152
Advertising-$36$41$77
Total Functional Expenses$537,777$262,294$31,721$831,792
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
Loans from Officers, Directors, Trustees, and Key Employees$180,181$247,506▲ $67,325
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Explanation: the 990 is reviewed by the board of directors prior to filing.

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

Explanation: the executive director's compensation is subject to the review of the board of directors and is determined by comparison to similar organizations, degree requirements and years of experience.

Form 990, Part VI, Section C, Line 19

Explanation: governing body documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Chaps Academy Inc
EIN
45-0530019
Phone
9209863003
Address
N5367 MAYFLOWER ROAD, SHIOCTON, WI 54170

Signing Officer

Name
Mary Downs
Title
President
Phone
9209863003
Signed
2018-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Downs
Formed
2004
Legal Domicile
Wi
Voting Board Members
7
Independent Board Members
7
Employees
31
Volunteers
7

Preparer

Firm
Baker Tilly Virchow Krause Llp
Address
2201 E ENTERPRISE AVE, APPLETON, WI 54912-2459
Preparer
Troy Marine CPA
Phone
9207337385
Supplemental Narrative

Additional Explanations

Form 990 Part XII Line 2C-responsibility for Review Oversight

No changes from the prior year

FORM 990, PAGE 1, SECTION B:

To allow e-filing, "initial return" was checked. However, the organization terminated operations as of march 26, 2018 and filed a short year return for 2018.

Financial Statement Notes

PART V, LINE 4:

Endowment funds will be utilized for the general support of the organization while preserving and maintaining the initial investment.

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IRS990/PYSalariesCompEmpBnftPaidAmt0776774
IRS990/PYTotalExpensesAmt01055720
IRS990/PYTotalRevenueAmt0996823
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-229467
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0346035
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0255351
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0465977
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0578143
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0460164
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0317696
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02077331
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0939
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0443
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt052
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt013
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01448
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0346035
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0513482
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0978146
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0848712
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0573973
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt03260348
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0939
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0443
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt052
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt013
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01448
IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99970
IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt05337679
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0601386
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0979459
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01556289
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01308876
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0891669
IRS990ScheduleA/Total509Grp/TotalAmt05337679
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0602325
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0979902
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01556341
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01308889
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0891670
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05339127
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0749323
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0367668
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01116991
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt05245
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt06108
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0863
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt04906
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt05245
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0339
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt05000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt04906
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-94
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt029946
IRS990ScheduleD/EquipmentGrp/DepreciationAmt069322
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt099268
IRS990ScheduleD/LandGrp/BookValueAmt034115
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt034115
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0772
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01755
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02527
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ENDOWMENT FUNDS WILL BE UTILIZED FOR THE GENERAL SUPPORT OF THE ORGANIZATION WHILE PRESERVING AND MAINTAINING THE INITIAL INVESTMENT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0814156
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0247506
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0CASH FLOW FUNDING
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0177000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0BOB PAT ENDRIES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0BOARD MEMBERS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt0247506
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPLANATION: THE 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXPLANATION: THE EXECUTIVE DIRECTOR'S COMPENSATION IS SUBJECT TO THE REVIEW OF THE BOARD OF DIRECTORS AND IS DETERMINED BY COMPARISON TO SIMILAR ORGANIZATIONS, DEGREE REQUIREMENTS AND YEARS OF EXPERIENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXPLANATION: GOVERNING BODY DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO CHANGES FROM THE PRIOR YEAR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TO ALLOW E-FILING, "INITIAL RETURN" WAS CHECKED. HOWEVER, THE ORGANIZATION TERMINATED OPERATIONS AS OF MARCH 26, 2018 AND FILED A SHORT YEAR RETURN FOR 2018.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 PART XII LINE 2C-RESPONSIBILITY FOR REVIEW OVERSIGHT
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 1, SECTION B:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0WI
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0157155
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt050186
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01154770
IRS990/TotalAssetsEOYAmt0953347
IRS990/TotalAssetsGrp/BOYAmt01154770
IRS990/TotalAssetsGrp/EOYAmt0953347
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0255351
IRS990/TotalEmployeeCnt031
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt031721
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0262294
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0537777
IRS990/TotalFunctionalExpensesGrp/TotalAmt0831792
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0280868
IRS990/TotalLiabilitiesEOYAmt0308912
IRS990/TotalLiabilitiesGrp/BOYAmt0280868
IRS990/TotalLiabilitiesGrp/EOYAmt0308912
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0873902
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0644435
IRS990/TotalOtherCompensationAmt00

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