Civic Intelligence

Exalt Education Inc.

990 • Fiscal year 2018 • EIN 45-2973628

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2019

Organization ProfileWWW.EXALTEDUCATION.ORG
1818 N Taylor St Ste 353Little Rock, AR 72207

(501) 683-1855

Siviq Scores

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

Liabilities / Assets

96th percentile

1.47x

Higher debt load relative to assets than 96% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

89th percentile

0.87x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

20th percentile

-11%

Higher net margin than 20% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

7th percentile

-25%

Faster asset growth than 7% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

19th percentile

-15%

Faster revenue growth than 19% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$565,523

Down $191,314 (-25%) from 2017

Net Assets

Down

-$264,072

Down $105,451 (-66%) from 2017

Liabilities

Down

$829,595

Down $85,863 (-9.4%) from 2017

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin20th percentile

Revenue

Down

$957,285

Down $170,162 (-15%) from 2017

Expenses

Down

$1,062,736

Down $71,087 (-6.3%) from 2017

Net Income

Down

-$105,451

Down $99,075 (-1554%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth7th 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

2018

Assets$565,523
Liabilities$829,595
Net Assets-$264,072
Open 2018 Filing

Operations Trend

Revenue Growth19th 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

2018

Revenue$957,285
Expenses$1,062,736
Net Income-$105,451
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2019
Return Version
2017v2.3
Gross Receipts
$957,285
Mission and Program Overview

Mission

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

Advanced careers by managing public charter schools that accelerate their academic learning and holistic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$226,342$221,544▼ $4,798
Other Notes and Loans Receivable, Net$198,669$160,822▼ $37,847
Accounts Receivable-$106,249-
Prepaid Expenses and Deferred Charges-$43,894-
Total Assets$756,837$565,523▼ $191,314
Other Assets Total$331,826$33,014▼ $298,812
Liabilities
Mortgage Notes Payable Secured by Investment Property$900,000$900,000→ $0
Accounts Payable and Accrued Expenses$15,458$-70,405▼ $85,863
Total Liabilities$915,458$829,595▼ $85,863
Net Assets / Fund Balance
Temporarily Rstr Net Assets$8,000$8,000→ $0
Unrestricted Net Assets$-166,621$-272,072▼ $105,451
Total Net Assets Fund Balance$-158,621$-264,072▼ $105,451
Total Liabilities and Net Assets / Fund Balance$756,837$565,523▼ $191,314

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$-16,986--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christian YarberryExecutive DiFT$100,963$11,939$112,902
Christina LongCAOFT$95,594$5,944$101,538
Dennis TiedeCOOFT$95,000-$95,000

Board Members and Trustees

NameTitle
Bonnie JohnsonBoard Chair
Benjamin LindquistVice-chair
Jeff LauxSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$944,843
Investment Income
$12,442
Other Revenue
$0
Change in Net Assets
$-105,451
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$798,818
Other Expenses$261,918
Grants and Similar Amounts Paid$2,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$274,702$59,385-$334,087
Current Officers, Directors, Trustees, and Key Employees$211,517$102,963-$314,480
Other Employee Benefits$71,495$7,506-$79,001
Payroll Taxes$55,982$15,268-$71,250
Fees for Services Other$63,287--$63,287
Fees for Services Legal-$57,621-$57,621
Travel$46,919--$46,919
Fees for Services Accounting-$27,130-$27,130
Office Expenses-$8,009-$8,009
Occupancy-$5,291-$5,291
Insurance-$4,575-$4,575
Other Expenses$14,729$2,094-$2,094
Grants to Domestic Orgs$2,000--$2,000
Advertising-$180-$180
Total Functional Expenses$740,631$322,105$0$1,062,736
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
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

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

Form 990, Page 6, Part VI, 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, Page 6, Part VI, Line 15A

“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, Page 6, Part VI, Line 15B

“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, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Exalt Education Inc
EIN
45-2973628
Phone
5016831855
Address
1818 N TAYLOR ST STE 353, LITTLE ROCK, AR 72207

Signing Officer

Name
Dennis Tiede
Title
COO
Phone
5016831855
Signed
2019-05-15

Organization Details

Principal Officer
Dennis Tiede
Formed
2011
Legal Domicile
Ar
Voting Board Members
3
Independent Board Members
3
Employees
15
Volunteers
3

Preparer

Firm
Hudson Cisne & Co Llp
Address
11025 ANDERSON DR STE 300, LITTLE ROCK, AR 72212-2472
Preparer
Rami Kassissieh
Phone
5012211000
Supplemental Narrative

Additional Explanations

Form 990, Part XII

“Question 2b: this is answered "yes", however at the time of filing the return, the audit was not yet completed or issued.”

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$565,523
Liabilities
$829,595
Net assets
-$264,072
Revenue
$957,285
Expenses
$1,062,736
Net income
-$105,451
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