Civic Intelligence

Hirsch Academy a Challenge Foundation Academy Inc.

990 • Fiscal year 2021 • EIN 45-3066114

Jul 01, 2020 to Jun 30, 2021 • Filed on May 12, 2022

6535 E Osborn Rd Ste 41Scottsdale, AZ 85251

(480) 488-9362

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.15x

Higher debt load relative to assets than 62% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

46th percentile

0.07x

Higher debt load relative to revenue than 46% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

31st percentile

2.6%

Higher net margin than 31% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

63rd percentile

$86,030

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

45th percentile

7.2%

Faster asset growth than 45% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

31st percentile

-0.5%

Faster revenue growth than 31% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$909,482

Up $60,905 (+7.2%) from 2020

Net Assets

Up

$773,847

Up $49,333 (+6.8%) from 2020

Liabilities

Up

$135,635

Up $11,572 (+9.3%) from 2020

Revenue

Down

$1,867,297

Down $8,758 (-0.5%) from 2020

Expenses

Up

$1,817,964

Up $123,125 (+7.3%) from 2020

Net Income

Down

$49,333

Down $131,883 (-73%) from 2020

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2014: $193,812Liabilities 2014: $268,708Net Assets 2014: -$74,8962014Assets 2015: $747,417Liabilities 2015: $375,332Net Assets 2015: $372,0852015Assets 2016: $1,197,374Liabilities 2016: $445,977Net Assets 2016: $751,3972016Assets 2017: $1,211,533Liabilities 2017: $408,752Net Assets 2017: $802,7812017Assets 2018: $1,070,647Liabilities 2018: $296,274Net Assets 2018: $774,3732018Assets 2019: $852,400Liabilities 2019: $309,102Net Assets 2019: $543,2982019Assets 2020: $848,577Liabilities 2020: $124,063Net Assets 2020: $724,5142020Assets 2021: $909,482Liabilities 2021: $135,635Net Assets 2021: $773,8472021Assets 2022: $1,007,957Liabilities 2022: $161,641Net Assets 2022: $846,3162022Assets 2023: $1,206,716Liabilities 2023: $397,076Net Assets 2023: $809,6402023Assets 2024: $927,458Liabilities 2024: $113,701Net Assets 2024: $813,7572024

Highlighted filing

2021

Assets$909,482
Liabilities$135,635
Net Assets$773,847

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $630,413Expenses 2014: $705,409Net Income 2014: -$74,9962014Revenue 2015: $1,480,280Expenses 2015: $1,033,299Net Income 2015: $446,9812015Revenue 2016: $1,698,246Expenses 2016: $1,318,934Net Income 2016: $379,3122016Revenue 2017: $1,442,421Expenses 2017: $1,391,037Net Income 2017: $51,3842017Revenue 2018: $1,543,040Expenses 2018: $1,571,448Net Income 2018: -$28,4082018Revenue 2019: $1,552,036Expenses 2019: $1,776,038Net Income 2019: -$224,0022019Revenue 2020: $1,876,055Expenses 2020: $1,694,839Net Income 2020: $181,2162020Revenue 2021: $1,867,297Expenses 2021: $1,817,964Net Income 2021: $49,3332021Revenue 2022: $2,314,354Expenses 2022: $2,241,885Net Income 2022: $72,4692022Revenue 2023: $2,344,656Expenses 2023: $2,381,332Net Income 2023: -$36,6762023Revenue 2024: $2,345,409Expenses 2024: $2,341,292Net Income 2024: $4,1172024

Highlighted filing

2021

Revenue$1,867,297
Expenses$1,817,964
Net Income$49,333
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.0
Gross Receipts
$1,867,297
Mission and Program Overview

Mission

Cfa partners with students, families, and community to provide an excellent and equitable classical education for the development of thoughtful, highly literate citizens. Our students are prepared for the pursuit of personal excellence, for college, and for a lifetime as positive contributors in their community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$673,779$747,572▲ $73,793
Land, Buildings, and Equipment, Net$69,005$70,804▲ $1,799
Pledges and Grants Receivable$62,654$54,512▼ $8,142
Prepaid Expenses and Deferred Charges$23,082$30,054▲ $6,972
Accounts Receivable$9,836--
Total Assets$848,577$909,482▲ $60,905
Other Assets Total$10,221$6,540▼ $3,681
Liabilities
Accounts Payable and Accrued Expenses$80,313$86,317▲ $6,004
Deferred Revenue$11,211$26,871▲ $15,660
Other Liabilities$32,539$22,447▼ $10,092
Total Liabilities$124,063$135,635▲ $11,572
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$486,614$567,230▲ $80,616
Net Assets With Donor Restrictions$237,900$206,617▼ $31,283
Total Net Assets Fund Balance$724,514$773,847▲ $49,333
Total Liabilities and Net Assets / Fund Balance$848,577$909,482▲ $60,905

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$67,280$242,882$310,162
Leasehold Improvements$3,524$128,722$132,246
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gina DisipioDirectorFT$81,800$4,230$86,030

Board Members and Trustees

NameTitle
Nadeen BoykinPresident
Ashley SpearDirector
Kevyn GriffenDirector
James Matt SandovalTeamcfa Rep
Revenue and Support

Revenue Composition

Contributions and Grants
$433,461
Program Service Revenue
$1,429,556
Investment Income
$0
Other Revenue
$4,280
All Other Contributions
$15,060
Change in Net Assets
$49,333

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,867,297
Total Revenue per Audited Statements
$1,867,297
Total Revenue per Form 990
$1,867,297
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,216,001
Other Expenses$601,963
Total Fundraising Expense$3,681
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$856,376$88,000-$944,376
Occupancy$174,036$62,485-$236,521
Other Employee Benefits$87,817$8,440-$96,257
Current Officers, Directors, Trustees, and Key Employees$74,178$7,622-$81,800
Payroll Taxes$71,156$7,284-$78,440
Fees for Services Other$45,396$27,379-$72,775
Travel$54,284$4,920-$59,204
Depreciation Depletion$28,556$9,519-$38,075
Fees for Services Accounting-$33,411-$33,411
Pension Plan Contributions$14,630$498-$15,128
Insurance-$13,576-$13,576
Other Expenses$500$4,372$3,681$8,553
Advertising-$6,730-$6,730
Interest-$4,962-$4,962
Total Functional Expenses$1,520,064$294,219$3,681$1,817,964

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,817,964
Total Expenses per Audited Statements$1,817,964
Total Expenses per Form 990$1,817,964
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
Capital Lease$22,447
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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, Page 6, Part VI, Line 11B

The 990 is prepared by our auditor and reviewed by the board upon completion.

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

Conflicts of interest are disclosed by the trustees, directors, and key employees annually and reviewed by the board for compliance related issues.

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

The board reviews comparative salary numbers from similiar organizations in size and purpose. The board deliberates on the proposed salary number and then votes at a public meeting.

Form 990, Page 6, Part VI, Line 19

Provided by request at the school's location.

Filing and Contact Details

Filer

Filer Name
Hirsch Academy a Challenge
EIN
45-3066114
Phone
4804889362
Address
6535 E OSBORN RD STE 41, SCOTTSDALE, AZ 85251

Signing Officer

Name
Nadeen Boykin
Title
President
Phone
4804889362
Signed
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nadeen Boykin
Formed
2012
Legal Domicile
Az
Voting Board Members
4
Independent Board Members
4
Employees
30
Volunteers
5

Preparer

Firm
Fester & Chapman Pllc
Address
9019 E BAHIA DR STE 100, SCOTTSDALE, AZ 85260
Preparer
Rachel R Locke CPA
Phone
6022643077
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Cfa partners with students, families, and community to provide an excellent and equitable classical education for the development of thoughtful, highly literate citizens. Our students are prepared for the pursuit of personal excellence, for college, and for a lifetime as positive contributors in their community.

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

All students at hirsch academy: cfa need and deserve an excellent and equitable education to become highly literate and contributing citizens. We have high expectations for all students, ensuring that all students needs are met. With the alignment of the common core state standards (ccss), arizona academic standards, core knowledge curriculum, challenge foundation philosophy, and best instructional practices, students are taught from an interdisciplinary perspective. Core knowledge is a classical curriculum with a strong focus on literacy across multiple subjects: english language arts (ela), math, science, social studies, the visual arts and music. Teacher selection is focused on selecting highly qualified teachers. We provide on-going support through a continuous improvement model. Regular data analysis, coaching from school leaders and through core knowledge foundation school visits, team mentoring through classroom instructional rounds, and applied professional development ensure effective instruction. Collaboration between parents, students, and staff is essential for high student achievement and is supported throughout the program at hirsch academy: cfa, making connections between content, meaningful understanding, and the effective use of common knowledge in society.

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IRS990/ProgramServiceRevenueGrp/Desc1CLASSROOM SITE FUNDS
IRS990/ProgramServiceRevenueGrp/Desc2INSTRUCTIONAL IMPROVEMENT FUN
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainScholarshipsRecsInd0false
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING STATEMENT IS POSTED ON THE ORGANIZATION'S WEBSITE: IT IS THE ROLE OF HIRSCH TO PROVIDE A SAFE AND SECURE LEARNING ENVIRONMENT FOR ALL ITS STUDENTS WITHOUT DISTINCTION BASED ON RACE, RELIGION, ETHNICITY, DISABILITY, GENDER, OR SEXUAL ORIENTATION. DISCRIMINATION, SEXUAL AND BIAS-MOTIVATED HARASSMENT, AND VIOLATIONS OF CIVIL RIGHTS DISRUPT THE EDUCATIONAL PROCESS AND WILL NOT BE TOLERATED AND WILL RESULT IN DISCIPLINARY ACTION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1NO SCHOLARSHIPS OR FINANCIAL ASSISTANCE IS AWARDED TO STUDENTS. THIS IS A PUBLIC SCHOOL FUNDED BY PUBLIC MONIES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION RECEIVED FUNDS FROM THE DEPARTMENT OF EDUCATION DURING THE YEAR.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CFA PARTNERS WITH STUDENTS, FAMILIES, AND COMMUNITY TO PROVIDE AN EXCELLENT AND EQUITABLE CLASSICAL EDUCATION FOR THE DEVELOPMENT OF THOUGHTFUL, HIGHLY LITERATE CITIZENS. OUR STUDENTS ARE PREPARED FOR THE PURSUIT OF PERSONAL EXCELLENCE, FOR COLLEGE, AND FOR A LIFETIME AS POSITIVE CONTRIBUTORS IN THEIR COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL STUDENTS AT HIRSCH ACADEMY: CFA NEED AND DESERVE AN EXCELLENT AND EQUITABLE EDUCATION TO BECOME HIGHLY LITERATE AND CONTRIBUTING CITIZENS. WE HAVE HIGH EXPECTATIONS FOR ALL STUDENTS, ENSURING THAT ALL STUDENTS NEEDS ARE MET. WITH THE ALIGNMENT OF THE COMMON CORE STATE STANDARDS (CCSS), ARIZONA ACADEMIC STANDARDS, CORE KNOWLEDGE CURRICULUM, CHALLENGE FOUNDATION PHILOSOPHY, AND BEST INSTRUCTIONAL PRACTICES, STUDENTS ARE TAUGHT FROM AN INTERDISCIPLINARY PERSPECTIVE. CORE KNOWLEDGE IS A CLASSICAL CURRICULUM WITH A STRONG FOCUS ON LITERACY ACROSS MULTIPLE SUBJECTS: ENGLISH LANGUAGE ARTS (ELA), MATH, SCIENCE, SOCIAL STUDIES, THE VISUAL ARTS AND MUSIC. TEACHER SELECTION IS FOCUSED ON SELECTING HIGHLY QUALIFIED TEACHERS. WE PROVIDE ON-GOING SUPPORT THROUGH A CONTINUOUS IMPROVEMENT MODEL. REGULAR DATA ANALYSIS, COACHING FROM SCHOOL LEADERS AND THROUGH CORE KNOWLEDGE FOUNDATION SCHOOL VISITS, TEAM MENTORING THROUGH CLASSROOM INSTRUCTIONAL ROUNDS, AND APPLIED PROFESSIONAL DEVELOPMENT ENSURE EFFECTIVE INSTRUCTION. COLLABORATION BETWEEN PARENTS, STUDENTS, AND STAFF IS ESSENTIAL FOR HIGH STUDENT ACHIEVEMENT AND IS SUPPORTED THROUGHOUT THE PROGRAM AT HIRSCH ACADEMY: CFA, MAKING CONNECTIONS BETWEEN CONTENT, MEANINGFUL UNDERSTANDING, AND THE EFFECTIVE USE OF COMMON KNOWLEDGE IN SOCIETY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS PREPARED BY OUR AUDITOR AND REVIEWED BY THE BOARD UPON COMPLETION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICTS OF INTEREST ARE DISCLOSED BY THE TRUSTEES, DIRECTORS, AND KEY EMPLOYEES ANNUALLY AND REVIEWED BY THE BOARD FOR COMPLIANCE RELATED ISSUES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD REVIEWS COMPARATIVE SALARY NUMBERS FROM SIMILIAR ORGANIZATIONS IN SIZE AND PURPOSE. THE BOARD DELIBERATES ON THE PROPOSED SALARY NUMBER AND THEN VOTES AT A PUBLIC MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROVIDED BY REQUEST AT THE SCHOOL'S LOCATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
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 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TEAMCFA FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1CFA PROPERTIES OF OREGON INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MANAGEMENT
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