Civic Intelligence

Exalt Education Inc.

990 • Fiscal year 2015 • EIN 45-2973628

Jul 01, 2014 to Jun 30, 2015 • Filed on May 12, 2016

Organization ProfileWWW.EXALTEDUCATION.ORG
6111 W 83rd StreetLittle Rock, AR 72209

(501) 683-1855

Siviq Scores

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

Liabilities / Assets

89th percentile

0.92x

Higher debt load relative to assets than 89% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

81st percentile

0.70x

Higher debt load relative to revenue than 81% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

74th percentile

15%

Higher net margin than 74% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

81st percentile

$138,600

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 10.3% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

86th percentile

30%

Faster asset growth than 86% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

84th percentile

34%

Faster revenue growth than 84% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$1,026,449

Up $237,519 (+30%) from 2014

Net Assets

Up

$86,948

Up $216,471 (+167%) from 2014

Liabilities

Up

$939,501

Up $21,048 (+2.3%) from 2014

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin74th percentile

Revenue

Up

$1,340,783

Up $341,903 (+34%) from 2014

Expenses

Down

$1,140,426

Down $405,566 (-26%) from 2014

Net Income

Up

$200,357

Up $747,469 (+137%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$2.0M$1.0M$0-$1.0MAssets 2013: $1,365,846Liabilities 2013: $948,257Net Assets 2013: $417,5892013Assets 2014: $788,930Liabilities 2014: $918,453Net Assets 2014: -$129,5232014Assets 2015: $1,026,449Liabilities 2015: $939,501Net Assets 2015: $86,9482015Assets 2016: $679,099Liabilities 2016: $1,489,999Net Assets 2016: -$810,9002016Assets 2017: $756,837Liabilities 2017: $915,458Net Assets 2017: -$158,6212017Assets 2018: $565,523Liabilities 2018: $829,595Net Assets 2018: -$264,0722018Assets 2019: $759,508Liabilities 2019: $1,096,341Net Assets 2019: -$336,8332019Assets 2020: $535,522Liabilities 2020: $646,949Net Assets 2020: -$111,4272020Assets 2021: $728,923Liabilities 2021: $485,613Net Assets 2021: $243,3102021Assets 2022: $643,228Liabilities 2022: $78,488Net Assets 2022: $564,7402022Assets 2023: $945,851Liabilities 2023: $95,962Net Assets 2023: $849,8892023Assets 2025: $1,152,164Liabilities 2025: $198,708Net Assets 2025: $953,4562025

Highlighted filing

2015

Assets$1,026,449
Liabilities$939,501
Net Assets$86,948
Open 2015 Filing

Operations Trend

Revenue Growth84th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2013: $519,872Expenses 2013: $1,315,336Net Income 2013: -$795,4642013Revenue 2014: $998,880Expenses 2014: $1,545,992Net Income 2014: -$547,1122014Revenue 2015: $1,340,783Expenses 2015: $1,140,426Net Income 2015: $200,3572015Revenue 2016: $983,116Expenses 2016: $1,880,964Net Income 2016: -$897,8482016Revenue 2017: $1,127,447Expenses 2017: $1,133,823Net Income 2017: -$6,3762017Revenue 2018: $957,285Expenses 2018: $1,062,736Net Income 2018: -$105,4512018Revenue 2019: $727,368Expenses 2019: $800,129Net Income 2019: -$72,7612019Revenue 2020: $863,471Expenses 2020: $638,065Net Income 2020: $225,4062020Revenue 2021: $874,087Expenses 2021: $656,657Net Income 2021: $217,4302021Revenue 2022: $968,527Expenses 2022: $647,097Net Income 2022: $321,4302022Revenue 2023: $1,038,000Expenses 2023: $871,580Net Income 2023: $166,4202023Revenue 2025: $1,258,337Expenses 2025: $1,058,810Net Income 2025: $199,5272025

Highlighted filing

2015

Revenue$1,340,783
Expenses$1,140,426
Net Income$200,357
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 12, 2016
Return Version
2014v6.0
Gross Receipts
$1,340,783
Mission and Program Overview

Mission

Exalt's mission is to prepare students from underserved communities for competitive colleges and universities.

Exalt's mission is to prepare students from underserved communities for competitive colleges and advanced careers by managing public charter schools that accelerate their academic learning and holistic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$597,957$475,842▼ $122,115
Cash and Non-Interest-Bearing Accounts$158,153$320,151▲ $161,998
Accounts Receivable$29,182$155,456▲ $126,274
Pledges and Grants Receivable-$25,000-
Prepaid Expenses and Deferred Charges$3,638$0▼ $3,638
Total Assets$788,930$1,026,449▲ $237,519
Other Assets Total$0$50,000▲ $50,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$900,000$900,000→ $0
Accounts Payable and Accrued Expenses$18,453$39,501▲ $21,048
Total Liabilities$918,453$939,501▲ $21,048
Net Assets / Fund Balance
Unrestricted Net Assets$-198,523$61,948▲ $260,471
Temporarily Rstr Net Assets$69,000$25,000▼ $44,000
Total Net Assets Fund Balance$-129,523$86,948▲ $216,471
Total Liabilities and Net Assets / Fund Balance$788,930$1,026,449▲ $237,519
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Benjamin LindquistCEOFT$138,600$138,600

Board Members and Trustees

NameTitle
Dennis SchwittersBoard Chair
Lee NuneryVice Chair
Bonnie JohnsonBoard Secretary
Jeff LauxBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$655,001
Program Service Revenue
$645,497
Investment Income
$40,285
Other Revenue
$0
All Other Contributions
$655,001
Change in Net Assets
$200,357

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,340,783
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,340,783
Total Revenue per Form 990
$1,340,783
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$881,723
Other Expenses$258,703
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$482,962$52,536-$535,498
Current Officers, Directors, Trustees, and Key Employees-$210,100-$210,100
Other Employee Benefits$52,404$28,992-$81,396
Fees for Services Legal-$61,471-$61,471
Payroll Taxes$34,637$20,092-$54,729
Fees for Services Other$37,637--$37,637
All Other Expenses$4,457$27,558-$32,015
Travel-$30,381-$30,381
Other Expenses$14,305$0-$14,305
Office Expenses-$10,309-$10,309
Insurance-$5,290-$5,290
Advertising-$3,742-$3,742
Occupancy-$2,109-$2,109
Fees for Services Accounting-$2,000-$2,000
Total Functional Expenses$640,995$499,431$0$1,140,426

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,140,426
Total Expenses per Audited Statements$1,140,426
Total Expenses per Form 990$1,140,426
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
Yes
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, Section A, Line 8B

“Exalt does not have any other active committees.”

Form 990, Part VI, Section B, Line 11

“Form 990 is placed out on the website for board members to review.”

Form 990, Part VI, Section B, Line 12C

“All board members are required annually to complete a disclosure form to disclose any interest they may have that might be a conflict.”

Form 990, Part VI, Section B, Line 15

“A market analysis was done of the key positions and a salary was offered to these employees based upon market data and the employees experience level.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Exalt Education Inc
EIN
45-2973628
Phone
5016831855
Address
6111 W 83RD STREET, LITTLE ROCK, AR 72209

Signing Officer

Name
Christian Yarberry
Title
Executive Director
Phone
5016831855
Signed
2016-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christian Yarberry
Formed
2011
Legal Domicile
Ar
Voting Board Members
4
Independent Board Members
4
Employees
14
Volunteers
0

Preparer

Firm
Hudson Cisne & Co Llp
Address
11025 ANDERSON DRIVE STE 300, LITTLE ROCK, AR 72212
Preparer
Rami Kassissieh
Phone
5012211000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The board solicited audit fee quotes and reviewed resumes that best fit their needs.”

Raw XML Appendix393 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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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt01867
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt01649
IRS990ScheduleA/OtherIncome509Grp/TotalAmt04561
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt03248667
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0749453
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0485123
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0486112
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01527979
IRS990ScheduleA/Total509Grp/TotalAmt03248667
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0790783
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0498881
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0519872
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01562292
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03371828
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01140426
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01340783
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01140426
IRS990ScheduleD/TotalRevenuePerForm990Amt01340783
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01340783
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01140426
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXALT DOES NOT HAVE ANY OTHER ACTIVE COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PLACED OUT ON THE WEBSITE FOR BOARD MEMBERS TO REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS ARE REQUIRED ANNUALLY TO COMPLETE A DISCLOSURE FORM TO DISCLOSE ANY INTEREST THEY MAY HAVE THAT MIGHT BE A CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A MARKET ANALYSIS WAS DONE OF THE KEY POSITIONS AND A SALARY WAS OFFERED TO THESE EMPLOYEES BASED UPON MARKET DATA AND THE EMPLOYEES EXPERIENCE LEVEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD SOLICITED AUDIT FEE QUOTES AND REVIEWED RESUMES THAT BEST FIT THEIR NEEDS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0AR
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt069000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt025000
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0788930
IRS990/TotalAssetsEOYAmt01026449
IRS990/TotalAssetsGrp/BOYAmt0788930
IRS990/TotalAssetsGrp/EOYAmt01026449
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0655001
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0499431
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0640995
IRS990/TotalFunctionalExpensesGrp/TotalAmt01140426
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0918453
IRS990/TotalLiabilitiesEOYAmt0939501
IRS990/TotalLiabilitiesGrp/BOYAmt0918453
IRS990/TotalLiabilitiesGrp/EOYAmt0939501
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-129523
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt086948
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0640995
IRS990/TotalProgramServiceRevenueAmt0645497
IRS990/TotalReportableCompFromOrgAmt0138600
IRS990/TotalRevenueGrp/ExclusionAmt040285
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0645497
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01340783
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0788930
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01026449
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt030381
IRS990/TravelGrp/TotalAmt030381
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-198523
IRS990/UnrestrictedNetAssetsGrp/EOYAmt061948
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt06111 W 83RD STREET
IRS990/USAddress/CityNm0LITTLE ROCK
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072209
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.EXALTEDUCATION.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRISTIAN YARBERRY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05016831855
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EXALT EDUCATION INC
ReturnHeader/Filer/BusinessNameControlTxt0EXAL
ReturnHeader/Filer/EIN0452973628
ReturnHeader/Filer/PhoneNum05016831855
ReturnHeader/Filer/USAddress/AddressLine1Txt06111 W 83RD STREET
ReturnHeader/Filer/USAddress/CityNm0LITTLE ROCK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd072209
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710650689
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HUDSON CISNE & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011025 ANDERSON DRIVE STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LITTLE ROCK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd072212
ReturnHeader/PreparerPersonGrp/PhoneNum05012211000
ReturnHeader/PreparerPersonGrp/PreparationDt02016-05-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RAMI KASSISSIEH
ReturnHeader/ReturnTs02016-05-16T11:51:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,026,449
Liabilities
$939,501
Net assets
$86,948
Revenue
$1,340,783
Expenses
$1,140,426
Net income
$200,357
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.15$0.20$0.95$1.26$1.06$0.20
2023Summary only. Only limited summary data is available for this year.$0.95$0.10$0.85$1.04$0.87$0.17
2022Summary only. Only limited summary data is available for this year.$0.64$0.08$0.56$0.97$0.65$0.32
2021Summary only. Only limited summary data is available for this year.$0.73$0.49$0.24$0.87$0.66$0.22
2020Detailed filing. Detailed filing data is available for this year.$0.54$0.65$0.11$0.86$0.64$0.23
2019Detailed filing. Detailed filing data is available for this year.$0.76$1.10$0.34$0.73$0.80$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.57$0.83$0.26$0.96$1.06$0.11
2017Detailed filing. Detailed filing data is available for this year.$0.76$0.92$0.16$1.13$1.13$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.68$1.49$0.81$0.98$1.88$0.90
2015Detailed filing. Detailed filing data is available for this year.$1.03$0.94$0.09$1.34$1.14$0.20
2014Detailed filing. Detailed filing data is available for this year.$0.79$0.92$0.13$1.00$1.55$0.55
2013Summary only. Only limited summary data is available for this year.$1.37$0.95$0.42$0.52$1.32$0.80