Civic Intelligence

Vertex Nonprofit Organization Inc

990 • Fiscal year 2019 • EIN 45-2831378

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 04, 2020

Organization ProfileWWW.VERTEXNP.COM

View Organization Page

530 South 1750 EastPrice, UT 84501

(435) 650-2066

Siviq Scores

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

Liabilities / Assets

97th percentile

1.30x

Higher debt load relative to assets than 97% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

95th percentile

7.39x

Higher debt load relative to revenue than 95% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

74th percentile

15%

Higher net margin than 74% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

19th percentile

$90,026

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

1st percentile

-41%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

89th percentile

46%

Faster revenue growth than 89% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$16,963,038

Down $11,854,834 (-41%) from 2018

Net Assets

Down

-$5,009,102

Down $229,799 (-4.8%) from 2018

Liabilities

Down

$21,972,140

Down $11,625,035 (-35%) from 2018

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin74th percentile

Revenue

Up

$2,972,217

Up $934,201 (+46%) from 2018

Expenses

Up

$2,539,895

Up $902,285 (+55%) from 2018

Net Income

Up

$432,322

Up $31,916 (+8.0%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$80M$60M$40M$20M$0-$20MAssets 2014: $47,707,013Liabilities 2014: $47,140,671Net Assets 2014: $566,3422014Assets 2015: $63,921,974Liabilities 2015: $66,704,657Net Assets 2015: -$2,782,6832015Assets 2016: $65,386,830Liabilities 2016: $68,024,825Net Assets 2016: -$2,637,9952016Assets 2017: $29,100,926Liabilities 2017: $34,418,281Net Assets 2017: -$5,317,3552017Assets 2018: $28,817,872Liabilities 2018: $33,597,175Net Assets 2018: -$4,779,3032018Assets 2019: $16,963,038Liabilities 2019: $21,972,140Net Assets 2019: -$5,009,1022019Assets 2020: $2,419,718Liabilities 2020: $0Net Assets 2020: $2,419,7182020Assets 2021: $1,479,743Liabilities 2021: $0Net Assets 2021: $1,479,7432021Assets 2022: $1,584,741Liabilities 2022: $0Net Assets 2022: $1,584,7412022Assets 2023: $882,408Liabilities 2023: $0Net Assets 2023: $882,4082023Assets 2024: $947,315Liabilities 2024: $0Net Assets 2024: $947,3152024

Highlighted filing

2019

Assets$16,963,038
Liabilities$21,972,140
Net Assets-$5,009,102
Open 2019 Filing

Operations Trend

Revenue Growth89th percentile

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

$10M$5.0M$0-$5.0MRevenue 2014: $1,042,671Expenses 2014: $1,426,709Net Income 2014: -$384,0382014Revenue 2015: $1,396,127Expenses 2015: $4,745,152Net Income 2015: -$3,349,0252015Revenue 2016: $2,576,497Expenses 2016: $2,431,809Net Income 2016: $144,6882016Revenue 2017: $704,052Expenses 2017: $3,383,412Net Income 2017: -$2,679,3602017Revenue 2018: $2,038,016Expenses 2018: $1,637,610Net Income 2018: $400,4062018Revenue 2019: $2,972,217Expenses 2019: $2,539,895Net Income 2019: $432,3222019Revenue 2020: $8,346,772Expenses 2020: $920,633Net Income 2020: $7,426,1392020Revenue 2021: $570,803Expenses 2021: $1,510,778Net Income 2021: -$939,9752021Revenue 2022: $874,492Expenses 2022: $769,494Net Income 2022: $104,9982022Revenue 2023: $1,095,724Expenses 2023: $1,798,057Net Income 2023: -$702,3332023Revenue 2024: $935,392Expenses 2024: $870,436Net Income 2024: $64,9562024

Highlighted filing

2019

Revenue$2,972,217
Expenses$2,539,895
Net Income$432,322
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 4, 2020
Return Version
2018v3.2
Gross Receipts
$2,972,217
Mission and Program Overview

Mission

It is the current intention of the Organization to use the contributions that it receives from the public to assist educational providers that the Organization shall determine to be appropriate recipients of funding.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$1,332,578$1,332,578→ $0
Land, Buildings, and Equipment, Net$945,860$945,860→ $0
Other Notes and Loans Receivable, Net$1,392,127$692,127▼ $700,000
Cash and Non-Interest-Bearing Accounts$178,852$446,679▲ $267,827
Prepaid Expenses and Deferred Charges$28,700--
Total Assets$28,564,170$16,963,038▼ $11,601,132
Other Assets Total$24,686,053$13,545,794▼ $11,140,259
Liabilities
Other Liabilities$33,997,324$21,967,321▼ $12,030,003
Accounts Payable and Accrued Expenses$8,270$4,819▼ $3,451
Total Liabilities$34,005,594$21,972,140▼ $12,033,454
Net Assets / Fund Balance
Temporarily Rstr Net Assets$950,380$950,380→ $0
Unrestricted Net Assets$-6,391,804$-5,959,482▲ $432,322
Total Net Assets Fund Balance$-5,441,424$-5,009,102▲ $432,322
Total Liabilities and Net Assets / Fund Balance$28,564,170$16,963,038▼ $11,601,132

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$942,509--
Equipment$3,351--
Other Assets Org$47,500--
Compensation and Service Providers
Top Officer Pay19th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jared HaddockPresidentFT$90,026$90,026
Mark MorleyLegal CounseFT$90,026$90,026
Revenue and Support

Revenue Composition

Contributions and Grants
$2,972,180
Program Service Revenue
$0
Investment Income
$37
Other Revenue
$0
All Other Contributions
$2,972,180
Change in Net Assets
$432,322
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,101,737
Salaries, Compensation, and Employee Benefits$438,158
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest-$245,777-$245,777
Current Officers, Directors, Trustees, and Key Employees$156,802--$156,802
Pension Plan Contributions$138,740--$138,740
Other Salaries and Wages$102,020--$102,020
Travel$12,241$12,241-$24,482
Other Employee Benefits$21,263--$21,263
Payroll Taxes$19,333--$19,333
Fees for Services Legal-$16,030-$16,030
Fees for Services Accounting-$15,147-$15,147
Fees for Services Other-$12,549-$12,549
Occupancy-$6,220-$6,220
Office Expenses$3,514--$3,514
All Other Expenses$1,390$1,719-$3,109
Other Expenses$1,801$13,315-$1,801
Insurance-$992-$992
Advertising$238--$238
Total Functional Expenses$2,215,905$323,990$0$2,539,895
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
Current Long Term Debt$10,074,997
Unearned Interest Income$7,092,324
Long Term Liabilities$4,800,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
No
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, Page 6, Part VI, Line 2

“Vertex nonprofit mtm, llc legal couns. Member brother”

Form 990, Page 6, Part VI, Line 8B

“YES”

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

“Form 990 is distributed via email.”

Form 990, Page 6, Part VI, Line 12C

“YES”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Vertex Nonprofit Organization
EIN
45-2831378
Phone
4356502066
Address
530 SOUTH 1750 EAST, PRICE, UT 84501

Signing Officer

Name
Jared Haddock
Title
President
Phone
4356502066
Signed
2020-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jared Haddock
Formed
2011
Voting Board Members
3
Independent Board Members
3
Employees
2
Volunteers
12

Preparer

Firm
Next Step Advisors LLC
Address
437 S BLUFF ST STE 301, SAINT GEORGE, UT 84770
Preparer
Doug Solstad CPA Cgma
Phone
4352758400
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

“In pursuit of its primary purpose, vertex nonprofit organization provides the following services: 1. Obtain financing for newly organized schools to have proper facilities until they can get their own rating. 2. Provide bond and disclosure services for these schools. 3. Lower the overall cost of their lease by developing more efficient ways to obtain financing. 4. Buy all schools or buildings at a discount in order to pass the savings to the school. 5. Provide donations and 0% interest rate loans to schools that need assistance. 6. Provide promotional videos of the schools for assistance in enrollment.”

Form 990, Page 2, Part III, Line 4D

“In pursuit of its primary purpose, vertex nonprofit organization provides the following services: 1. Obtain financing for newly organized schools to have proper facilities until they can get their own rating. 2. Provide bond and disclosure services for these schools. 3. Lower the overall cost of their lease by developing more efficient ways to obtain financing. 4. Buy all schools or buildings at a discount in order to pass the savings to the school. 5. Provide donations and 0% interest rate loans to schools that need assistance. 6. Provide promotional videos of the schools for assistance in enrollment.”

Raw XML Appendix358 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/ProgSrvcAccomActyOtherGrp/Desc0IN PURSUIT OF ITS PRIMARY PURPOSE, VERTEX NONPROFIT ORGANIZATION PROVIDES THE FOLLOWING SERVICES: 1. OBTAIN FINANCING FOR NEWLY ORGANIZED SCHOOLS TO HAVE PROPER FACILITIES UNTIL THEY CAN GET THEIR OWN RATING. 2. PROVIDE BOND AND DISCLOSURE SERVICES FOR THESE SCHOOLS. 3. LOWER THE OVERALL COST OF THEIR LEASE BY DEVELOPING MORE EFFICIENT WAYS TO OBTAIN FINANCING. 4. BUY ALL SCHOOLS OR BUILDINGS AT A DISCOUNT IN ORDER TO PASS THE SAVINGS TO THE SCHOOL. 5. PROVIDE DONATIONS AND 0% INTEREST RATE LOANS TO SCHOOLS THAT NEED ASSISTANCE. 6. PROVIDE PROMOTIONAL VIDEOS OF THE SCHOOLS FOR ASSISTANCE IN ENROLLMENT.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0REIMBURSEMENTS 202,902 LEASE PAYMENTS 723,210 RENTAL REVENUE 30,145
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN PURSUIT OF ITS PRIMARY PURPOSE, VERTEX NONPROFIT ORGANIZATION PROVIDES THE FOLLOWING SERVICES: 1. OBTAIN FINANCING FOR NEWLY ORGANIZED SCHOOLS TO HAVE PROPER FACILITIES UNTIL THEY CAN GET THEIR OWN RATING. 2. PROVIDE BOND AND DISCLOSURE SERVICES FOR THESE SCHOOLS. 3. LOWER THE OVERALL COST OF THEIR LEASE BY DEVELOPING MORE EFFICIENT WAYS TO OBTAIN FINANCING. 4. BUY ALL SCHOOLS OR BUILDINGS AT A DISCOUNT IN ORDER TO PASS THE SAVINGS TO THE SCHOOL. 5. PROVIDE DONATIONS AND 0% INTEREST RATE LOANS TO SCHOOLS THAT NEED ASSISTANCE. 6. PROVIDE PROMOTIONAL VIDEOS OF THE SCHOOLS FOR ASSISTANCE IN ENROLLMENT.
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ReturnHeader/TaxYr02018

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
$16,963,038
Liabilities
$21,972,140
Net assets
-$5,009,102
Revenue
$2,972,217
Expenses
$2,539,895
Net income
$432,322
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.00$0.95$0.94$0.87$0.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.88$0.00$0.88$1.10$1.80$0.70
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.58$0.00$1.58$0.87$0.77$0.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.48$0.00$1.48$0.57$1.51$0.94
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.42$0.00$2.42$8.35$0.92$7.43
2019Detailed filing. Detailed filing data is available for this year.$17.0$22.0$5.01$2.97$2.54$0.43
2018Summary only. Only limited summary data is available for this year.$28.8$33.6$4.78$2.04$1.64$0.40
2017Summary only. Only limited summary data is available for this year.$29.1$34.4$5.32$0.70$3.38$2.68
2016Summary only. Only limited summary data is available for this year.$65.4$68.0$2.64$2.58$2.43$0.14
2015Detailed filing. Detailed filing data is available for this year.$63.9$66.7$2.78$1.40$4.75$3.35
2014Detailed filing. Detailed filing data is available for this year.$47.7$47.1$0.57$1.04$1.43$0.38