Civic Intelligence

Exalt Education Inc.

990 • Fiscal year 2017 • EIN 45-2973628

Jul 01, 2016 to Jun 30, 2017 • Filed on Dec 12, 2018

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

94th percentile

1.21x

Higher debt load relative to assets than 94% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

83rd percentile

0.81x

Higher debt load relative to revenue than 83% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

37th percentile

-0.6%

Higher net margin than 37% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

62nd percentile

$85,340

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 7.6% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

68th percentile

15%

Faster revenue growth than 68% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$756,837

Up $77,738 (+11%) from 2016

Net Assets

Up

-$158,621

Up $652,279 (+80%) from 2016

Liabilities

Down

$915,458

Down $574,541 (-39%) from 2016

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin37th percentile

Revenue

Up

$1,127,447

Up $144,331 (+15%) from 2016

Expenses

Down

$1,133,823

Down $747,141 (-40%) from 2016

Net Income

Up

-$6,376

Up $891,472 (+99%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2017

Assets$756,837
Liabilities$915,458
Net Assets-$158,621
Open 2017 Filing

Operations Trend

Revenue Growth68th 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

2017

Revenue$1,127,447
Expenses$1,133,823
Net Income-$6,376
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Dec 12, 2018
Return Version
2016v3.1
Gross Receipts
$1,127,447
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$286,880$226,342▼ $60,538
Other Notes and Loans Receivable, Net$344,190$198,669▼ $145,521
Accounts Receivable$158,395--
Total Assets$839,465$756,837▼ $82,628
Other Assets Total$50,000$331,826▲ $281,826
Liabilities
Mortgage Notes Payable Secured by Investment Property$900,000$900,000→ $0
Other Liabilities$16,986--
Accounts Payable and Accrued Expenses$74,724$15,458▼ $59,266
Total Liabilities$991,710$915,458▼ $76,252
Net Assets / Fund Balance
Temporarily Rstr Net Assets$8,000$8,000→ $0
Unrestricted Net Assets$-160,245$-166,621▼ $6,376
Total Net Assets Fund Balance$-152,245$-158,621▼ $6,376
Total Liabilities and Net Assets / Fund Balance$839,465$756,837▼ $82,628

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$50,000--
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christina LongCAOFT$80,088$5,252$85,340
Dennis TiedeExecutive DiFT$75,208-$75,208
Saliha QaziFinance DireFT$23,958$2,054$26,012

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
$1,105,568
Investment Income
$21,879
Other Revenue
$0
Change in Net Assets
$-6,376
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$839,499
Other Expenses$292,324
Grants and Similar Amounts Paid$2,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$309,727$57,597-$367,324
Current Officers, Directors, Trustees, and Key Employees$143,880$102,190-$246,070
Comp Disqual Persons$103,817--$103,817
Fees for Services Legal-$84,500-$84,500
Payroll Taxes$55,362$7,338-$62,700
Other Employee Benefits$51,544$8,044-$59,588
Office Expenses-$32,550-$32,550
All Other Expenses$1,551$24,910-$26,461
Occupancy-$20,303-$20,303
Insurance-$18,734-$18,734
Fees for Services Accounting-$15,150-$15,150
Travel$14,949--$14,949
Advertising-$14,687-$14,687
Other Expenses$5,873$1,743-$7,616
Fees for Services Other$3,017$3,277-$6,294
Grants to Domestic Orgs$2,000--$2,000
Total Functional Expenses$725,000$408,823$0$1,133,823
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 8B

“Exalt does not have any other active comittees.”

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
Executive Director
Phone
5016831855
Signed
2018-12-12

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, Page 1, Item B

“Form 990 is being amended to reflect values based on audited financials, which were finalized after the due date of the original return. Form 990 and all supporting schedules have been impacted by these changes.”

Form 990, Page 12, Part XII, Line 2C

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

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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/Total509Grp/CurrentTaxYearMinus3YearsAmt0985122
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0486112
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt150000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INTERCOMPANY
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSITS ASSET
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS BEING AMENDED TO REFLECT VALUES BASED ON AUDITED FINANCIALS, WHICH WERE FINALIZED AFTER THE DUE DATE OF THE ORIGINAL RETURN. FORM 990 AND ALL SUPPORTING SCHEDULES HAVE BEEN IMPACTED BY THESE CHANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXALT DOES NOT HAVE ANY OTHER ACTIVE COMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PLACED OUT ON THE WEBSITE FOR BOARD MEMBERS TO REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL BOARD MEMBERS ARE REQUIRED ANNUALLY TO COMPLETE A DISCLOSURE FORM TO DISCLOSE ANY INTEREST THEY MAY HAVE THAT MIGHT BE A CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A 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/ExplanationTxt5A 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/ExplanationTxt6AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE BOARD SOLICITED AUDIT FEE QUOTES AND REVIEWED RESUMES THAT BEST FIT THEIR NEEDS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 12, PART XII, LINE 2C
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1PORTLAND CHARTER PARTNERS
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1475181333
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0AR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1OR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SUPPORT OR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1SUPPORT OR
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt11818 N TAYLOR ST STE 353
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LITTLE ROCK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1LITTLE ROCK
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990/SchoolOperatingInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalLiabilitiesGrp/BOYAmt0991710
IRS990/TotalLiabilitiesGrp/EOYAmt0915458

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$756,837
Liabilities
$915,458
Net assets
-$158,621
Revenue
$1,127,447
Expenses
$1,133,823
Net income
-$6,376
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