Civic Intelligence

Oklahoma Skynet Inc.

990 • Fiscal year 2018 • EIN 45-2682519

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 25, 2019

1160 S Douglas BlvdMidwest City, OK 73130

(405) 259-9478

Siviq Scores

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

Liabilities / Assets

92nd percentile

1.00x

Higher debt load relative to assets than 92% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

43rd percentile

0.17x

Higher debt load relative to revenue than 43% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

34th percentile

-0.2%

Higher net margin than 34% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

3rd percentile

-24%

Faster asset growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

26th percentile

-4.3%

Faster revenue growth than 26% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Down

$1,996,661

Down $627,943 (-24%) from 2017

Net Assets

Down

$4,060

Down $24,215 (-86%) from 2017

Liabilities

Down

$1,992,601

Down $603,728 (-23%) from 2017

Revenue

Down

$11,459,494

Down $509,612 (-4.3%) from 2017

Expenses

Down

$11,483,709

Down $506,340 (-4.2%) from 2017

Net Income

Down

-$24,215

Down $3,272 (-16%) from 2017

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2012: $717,386Liabilities 2012: $717,386Net Assets 2012: $02012Assets 2013: $2,868,734Liabilities 2013: $2,868,734Net Assets 2013: $02013Assets 2014: $1,480,782Liabilities 2014: $1,409,855Net Assets 2014: $70,9272014Assets 2015: $3,372,823Liabilities 2015: $3,311,950Net Assets 2015: $60,8732015Assets 2016: $2,282,067Liabilities 2016: $2,232,849Net Assets 2016: $49,2182016Assets 2017: $2,624,604Liabilities 2017: $2,596,329Net Assets 2017: $28,2752017Assets 2018: $1,996,661Liabilities 2018: $1,992,601Net Assets 2018: $4,0602018Assets 2019: $2,093,467Liabilities 2019: $2,087,147Net Assets 2019: $6,3202019Assets 2020: $2,583,789Liabilities 2020: $2,562,482Net Assets 2020: $21,3072020Assets 2021: $2,376,480Liabilities 2021: $2,360,573Net Assets 2021: $15,9072021Assets 2022: $2,705,940Liabilities 2022: $2,695,900Net Assets 2022: $10,0402022Assets 2023: $4,695,688Liabilities 2023: $4,664,108Net Assets 2023: $31,5802023Assets 2024: $4,152,979Liabilities 2024: $3,897,779Net Assets 2024: $255,2002024Assets 2025: $3,091,772Liabilities 2025: $2,672,413Net Assets 2025: $419,3592025

Highlighted filing

2018

Assets$1,996,661
Liabilities$1,992,601
Net Assets$4,060

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2012: $1,900,5652012Revenue 2013: $10,303,924Expenses 2013: $10,303,924Net Income 2013: $02013Revenue 2014: $12,157,736Expenses 2014: $12,086,809Net Income 2014: $70,9272014Revenue 2015: $11,322,726Expenses 2015: $11,332,780Net Income 2015: -$10,0542015Revenue 2016: $12,109,954Expenses 2016: $12,121,609Net Income 2016: -$11,6552016Revenue 2017: $11,969,106Expenses 2017: $11,990,049Net Income 2017: -$20,9432017Revenue 2018: $11,459,494Expenses 2018: $11,483,709Net Income 2018: -$24,2152018Revenue 2019: $15,645,446Expenses 2019: $15,643,186Net Income 2019: $2,2602019Revenue 2020: $16,866,315Expenses 2020: $16,851,328Net Income 2020: $14,9872020Revenue 2021: $23,209,561Expenses 2021: $23,214,961Net Income 2021: -$5,4002021Revenue 2022: $22,911,561Expenses 2022: $22,917,428Net Income 2022: -$5,8672022Revenue 2023: $26,343,968Expenses 2023: $26,322,428Net Income 2023: $21,5402023Revenue 2024: $28,937,390Expenses 2024: $28,713,770Net Income 2024: $223,6202024Revenue 2025: $29,443,971Expenses 2025: $29,279,812Net Income 2025: $164,1592025

Highlighted filing

2018

Revenue$11,459,494
Expenses$11,483,709
Net Income-$24,215
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 25, 2019
Return Version
2017v2.2
Gross Receipts
$11,459,494
Mission and Program Overview

Mission

Oklahoma virtual charter academy, a public charter school, uses the k12.com curriculum to offer oklahoma students in grades k-12 an exceptional learning experience.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,123,203$1,996,661▼ $126,542
Savings and Temporary Cash Investments$501,401--
Total Assets$2,624,604$1,996,661▼ $627,943
Liabilities
Other Liabilities$2,596,329$1,992,601▼ $603,728
Total Liabilities$2,596,329$1,992,601▼ $603,728
Net Assets / Fund Balance
Unrestricted Net Assets$28,275$4,060▼ $24,215
Total Net Assets Fund Balance$28,275$4,060▼ $24,215
Total Liabilities and Net Assets / Fund Balance$2,624,604$1,996,661▼ $627,943
Compensation and Service Providers

Board Members and Trustees

NameTitle
Terry HopperPresident
Pam LoweVice President
Heather ReedClerk
Carla MaloyMember
Frank NelsonMember

Highest Paid Contractors

ContractorServicesLocationCompensation
K12 IncManagement2300 CORP PARK DRIVE, Herndon, VA 20171$10,888,404
Revenue and Support

Revenue Composition

Contributions and Grants
$11,426,846
Program Service Revenue
$19,152
Investment Income
$2,159
Other Revenue
$11,337
Change in Net Assets
$-24,215

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,459,494
Total Revenue per Audited Statements
$11,459,494
Total Revenue per Form 990
$11,459,494
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,483,709
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
Fees for Services Other$5,051,036$114,326-$5,165,362
Occupancy$4,034,026$1,858-$4,035,884
Fees for Services Management-$331,413-$331,413
Information Technology$133,823$2,873-$136,696
Travel$86,940$10,749-$97,689
Insurance-$48,299-$48,299
Fees for Services Accounting-$10,900-$10,900
Other Expenses$8,826$13,949-$8,826
Conferences and Meetings$1,300$975-$2,275
Office Expenses$750$422-$1,172
Advertising-$165-$165
Total Functional Expenses$10,895,534$588,175$0$11,483,709

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,483,709
Total Expenses per Audited Statements$11,483,709
Total Expenses per Form 990$11,483,709
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

Other Reported Liabilities

LiabilityAmount
Encumbrances$1,161,826
Warrants Payable$826,504
Funds Held for School Orgs$4,271
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
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 governing body review Part VI line 11

The form 990 was provided electronically to each board member with sufficient time to review and provide feedback prior to filing with the irs.

Conflict of interest policy compliance Part VI line 12C

An annual disclosure policy is included in the board policies, and states: annual disclosure form: all affected persons shall complete and file a conflict of interest disclosure statement, in the form attached to this policy, to the secretary of the board annually within thirty days of the start of the fiscal year. The secretary shall review the forms in conjunction with the chair and vice chair and is responsible for ensuring compliance with this policy as to all matters that come before the board. The secretary shall inform the chair and vice chair in writing of those individuals who fail to timely furnish the annual disclosure form.

CEO executive director top management comp Part VI line 15A

The organizations top administrative official is paid as part of the organizations services agreement with the management company, which is an independent entity from the organization that is filing this form 990. Compensation of the top administrative official of the organization is established by the vice president of operations in conjunction with human resources, after reviewing comparability data.

Governing documents etc available to public Part VI line 19

Conflict of interest policies were discussed and signed during public meetings, financial documents were filed with the county clerk, audit documents are posted on the state of oklahomas website. Board policies and governing documents were discussed and adopted during a public meeting.

Filing and Contact Details

Filer

Filer Name
Oklahoma Skynet Inc
EIN
45-2682519
Address
1160 S DOUGLAS BLVD, MIDWEST CITY, OK 73130
Doing Business As
Oklahoma Virtual Charter Acade

Signing Officer

Name
Sheryl Tatum
Title
Head of Schools
Phone
4052599478
Signed
2019-04-25
Discuss with paid preparer
Yes

Organization Details

Formed
2011
Legal Domicile
Ok
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Jenkins & Kemper CPAs PC
Address
116 W Breckenridge Ave, Bixby, OK 74008
Preparer
Jack Jenkins
Phone
9183664440
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

Line 11g consists of fees paid for services relating to the curriculum and software used by the virtual school.

Raw XML Appendix377 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt3MEMBER
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt011483709
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WAS PROVIDED ELECTRONICALLY TO EACH BOARD MEMBER WITH SUFFICIENT TIME TO REVIEW AND PROVIDE FEEDBACK PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AN ANNUAL DISCLOSURE POLICY IS INCLUDED IN THE BOARD POLICIES, AND STATES: ANNUAL DISCLOSURE FORM: ALL AFFECTED PERSONS SHALL COMPLETE AND FILE A CONFLICT OF INTEREST DISCLOSURE STATEMENT, IN THE FORM ATTACHED TO THIS POLICY, TO THE SECRETARY OF THE BOARD ANNUALLY WITHIN THIRTY DAYS OF THE START OF THE FISCAL YEAR. THE SECRETARY SHALL REVIEW THE FORMS IN CONJUNCTION WITH THE CHAIR AND VICE CHAIR AND IS RESPONSIBLE FOR ENSURING COMPLIANCE WITH THIS POLICY AS TO ALL MATTERS THAT COME BEFORE THE BOARD. THE SECRETARY SHALL INFORM THE CHAIR AND VICE CHAIR IN WRITING OF THOSE INDIVIDUALS WHO FAIL TO TIMELY FURNISH THE ANNUAL DISCLOSURE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATIONS TOP ADMINISTRATIVE OFFICIAL IS PAID AS PART OF THE ORGANIZATIONS SERVICES AGREEMENT WITH THE MANAGEMENT COMPANY, WHICH IS AN INDEPENDENT ENTITY FROM THE ORGANIZATION THAT IS FILING THIS FORM 990. COMPENSATION OF THE TOP ADMINISTRATIVE OFFICIAL OF THE ORGANIZATION IS ESTABLISHED BY THE VICE PRESIDENT OF OPERATIONS IN CONJUNCTION WITH HUMAN RESOURCES, AFTER REVIEWING COMPARABILITY DATA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST POLICIES WERE DISCUSSED AND SIGNED DURING PUBLIC MEETINGS, FINANCIAL DOCUMENTS WERE FILED WITH THE COUNTY CLERK, AUDIT DOCUMENTS ARE POSTED ON THE STATE OF OKLAHOMAS WEBSITE. BOARD POLICIES AND GOVERNING DOCUMENTS WERE DISCUSSED AND ADOPTED DURING A PUBLIC MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LINE 11G CONSISTS OF FEES PAID FOR SERVICES RELATING TO THE CURRICULUM AND SOFTWARE USED BY THE VIRTUAL SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4List of other fees for services expenses Part IX line 11g
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OK
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01996661
IRS990/TotalAssetsGrp/BOYAmt02624604
IRS990/TotalAssetsGrp/EOYAmt01996661
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IRS990/TotalContributionsAmt011426846
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0588175
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt010895534
IRS990/TotalFunctionalExpensesGrp/TotalAmt011483709
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02596329
IRS990/TotalLiabilitiesEOYAmt01992601
IRS990/TotalLiabilitiesGrp/BOYAmt02596329
IRS990/TotalLiabilitiesGrp/EOYAmt01992601
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04060
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt010895534
IRS990/TotalProgramServiceRevenueAmt019152
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt032648
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt011459494
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02624604
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01996661
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt010749
IRS990/TravelGrp/ProgramServicesAmt086940
IRS990/TravelGrp/TotalAmt097689
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt028275
IRS990/UnrestrictedNetAssetsGrp/EOYAmt04060
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.K12.COM/OVCA/HOME
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SHERYL TATUM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEAD OF SCHOOLS
ReturnHeader/BusinessOfficerGrp/PhoneNum04052599478
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OKLAHOMA SKYNET INC
ReturnHeader/Filer/BusinessNameControlTxt0OKLA
ReturnHeader/Filer/EIN0452682519
ReturnHeader/Filer/USAddress/AddressLine1Txt01160 S DOUGLAS BLVD
ReturnHeader/Filer/USAddress/CityNm0MIDWEST CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OK
ReturnHeader/Filer/USAddress/ZIPCd073130
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId04F33C467BE169E4A22AEB7B9F1E26C3F7AB37E00
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId04F33C467BE169E4A22AEB7B9F1E26C3F7AB37E00
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId07307452019116gn1r2hr
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-04-26
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.217.144.215
ReturnHeader/FilingSecurityInformation/IPDt02019-04-26
ReturnHeader/FilingSecurityInformation/IPTm011:20:32
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0731514558
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Jenkins & Kemper CPAs PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0116 W Breckenridge Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Bixby
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd074008
ReturnHeader/PreparerPersonGrp/PhoneNum09183664440
ReturnHeader/PreparerPersonGrp/PreparationDt02019-04-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jack Jenkins
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02019-04-26T10:36:13-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.09$2.67$0.42$29.4$29.3$0.16
2024Detailed filing. Detailed filing data is available for this year.$4.15$3.90$0.26$28.9$28.7$0.22
2023Detailed filing. Detailed filing data is available for this year.$4.70$4.66$0.03$26.3$26.3$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.71$2.70$0.01$22.9$22.9$0.01
2021Detailed filing. Detailed filing data is available for this year.$2.38$2.36$0.02$23.2$23.2$0.01
2020Detailed filing. Detailed filing data is available for this year.$2.58$2.56$0.02$16.9$16.9$0.01
2019Detailed filing. Detailed filing data is available for this year.$2.09$2.09$0.01$15.6$15.6$0.00
2018Detailed filing. Detailed filing data is available for this year.$2.00$1.99$0.00$11.5$11.5$0.02
2017Detailed filing. Detailed filing data is available for this year.$2.62$2.60$0.03$12.0$12.0$0.02
2016Detailed filing. Detailed filing data is available for this year.$2.28$2.23$0.05$12.1$12.1$0.01
2015Detailed filing. Detailed filing data is available for this year.$3.37$3.31$0.06$11.3$11.3$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.48$1.41$0.07$12.2$12.1$0.07
2013Summary only. Only limited summary data is available for this year.$2.87$2.87$0.00$10.3$10.3$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.72$0.00$1.90