Civic Intelligence

Horizon Academy Foundation

EIN 45-3364070 • 501(c)3 • Albuquerque, NM

Profile

The purpose for which the corporation is organized is to receive and maintain a fund or funds of real or personal property, or both, and subject to the restrictions and limitations hereinafter set forth, to use and apply the whole or any part of the income there from the principal thereof exclusively for the purpose of supporting the public education purposes of horizon academy west charter school, a new mexico public charter school, providing suitable facilities for the operation of the school, and for other charitable, religious, scientific, literary, or educational purposes permissible for exempt organizations under section 501(c)(3) of the internal revenue code of 1986 and the regulations promulgated hereunder, as they now exist or as they may hereafter be amended.

3021 Todos Santos NWAlbuquerque, NM 87120

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

1.12x

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

NTEE B • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

96th percentile

9.68x

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

NTEE B • $5M-$10M nonprofits • Source year 2024

Net Margin

78th percentile

22%

Higher net margin than 78% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE B • $5M-$10M nonprofits • Source year 2024

Asset Growth

36th percentile

-0.3%

Faster asset growth than 36% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

3.9%

Faster revenue growth than 45% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$5,343,984

Down $13,900 (-0.3%) from 2023

Liabilities

Down

$5,977,244

Down $148,093 (-2.4%) from 2023

Net Assets

Up

-$633,260

Up $134,193 (+17%) from 2023

Operations
Liabilities / Revenue96th percentileNet Margin78th percentile

Revenue

Up

$617,725

Up $23,362 (+3.9%) from 2023

Expenses

Down

$483,532

Down $29,737 (-5.8%) from 2023

Net Income

Up

$134,193

Up $53,099 (+65%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth36th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2012: $54,811Liabilities 2012: $50,0002012Assets 2013: $6,273,572Liabilities 2013: $6,666,734Net Assets 2013: -$393,1622013Assets 2014: $5,974,669Liabilities 2014: $6,713,361Net Assets 2014: -$738,6922014Assets 2015: $5,854,363Liabilities 2015: $6,622,526Net Assets 2015: -$768,1632015Assets 2016: $5,765,179Liabilities 2016: $6,557,051Net Assets 2016: -$791,8722016Assets 2017: $5,772,711Liabilities 2017: $6,604,844Net Assets 2017: -$832,1332017Assets 2018: $5,702,726Liabilities 2018: $6,667,599Net Assets 2018: -$964,8732018Assets 2019: $5,636,648Liabilities 2019: $6,570,936Net Assets 2019: -$934,2882019Assets 2020: $5,536,022Liabilities 2020: $6,469,798Net Assets 2020: -$933,7762020Assets 2021: $5,468,641Liabilities 2021: $6,362,349Net Assets 2021: -$893,7082021Assets 2022: $5,396,790Liabilities 2022: $6,245,337Net Assets 2022: -$848,5472022Assets 2023: $5,357,884Liabilities 2023: $6,125,337Net Assets 2023: -$767,4532023Assets 2024: $5,343,984Liabilities 2024: $5,977,244Net Assets 2024: -$633,2602024

Highlighted filing

2024

Assets$5,343,984
Liabilities$5,977,244
Net Assets-$633,260
Open 2024 Filing

Operations Trend

Revenue Growth45th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2012: $5,100Expenses 2012: $289Net Income 2012: $4,8112012Expenses 2013: $398,2072013Revenue 2014: $457,086Expenses 2014: $802,616Net Income 2014: -$345,5302014Revenue 2015: $514,524Expenses 2015: $544,005Net Income 2015: -$29,4812015Revenue 2016: $540,392Expenses 2016: $564,101Net Income 2016: -$23,7092016Revenue 2017: $547,458Expenses 2017: $587,719Net Income 2017: -$40,2612017Revenue 2018: $566,386Expenses 2018: $546,640Net Income 2018: $19,7462018Revenue 2019: $576,440Expenses 2019: $545,855Net Income 2019: $30,5852019Revenue 2020: $569,915Expenses 2020: $569,403Net Income 2020: $5122020Revenue 2021: $563,103Expenses 2021: $523,035Net Income 2021: $40,0682021Revenue 2022: $563,194Expenses 2022: $518,033Net Income 2022: $45,1612022Revenue 2023: $594,363Expenses 2023: $513,269Net Income 2023: $81,0942023Revenue 2024: $617,725Expenses 2024: $483,532Net Income 2024: $134,1932024

Highlighted filing

2024

Revenue$617,725
Expenses$483,532
Net Income$134,193
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$5,343,984
Liabilities
$5,977,244
Net assets
-$633,260
Revenue
$617,725
Expenses
$483,532
Net income
$134,193
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.34$5.98$0.63$0.62$0.48$0.13
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.36$6.13$0.77$0.59$0.51$0.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.40$6.25$0.85$0.56$0.52$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.47$6.36$0.89$0.56$0.52$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.54$6.47$0.93$0.57$0.57$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.64$6.57$0.93$0.58$0.55$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.70$6.67$0.96$0.57$0.55$0.02
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.77$6.60$0.83$0.55$0.59$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.77$6.56$0.79$0.54$0.56$0.02
2015Detailed filing. Detailed filing data is available for this year.$5.85$6.62$0.77$0.51$0.54$0.03
2014Detailed filing. Detailed filing data is available for this year.$5.97$6.71$0.74$0.46$0.80$0.35
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.27$6.67$0.39$0.40
2012Summary only. Only limited summary data is available for this year.$0.05$0.05$0.01$0.00$0.00
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 10, 2022
Return Version
2020v4.0
Gross Receipts
$563,103
Mission and Program Overview

Mission

The purpose for which the corporation is organized is to receive and maintain a fund or funds of real or personal property, or both, and subject to the restrictions and limitations hereinafter set forth, to use and apply the whole or any part of the income there from the principal thereof exclusively for the purpose of supporting the public education purposes of horizon academy west charter school, a new mexico public charter school, providing suitable facilities for the operation of the school, and for other charitable, religious, scientific, literary, or educational purposes permissible for exempt organizations under section 501(c)(3) of the internal revenue code of 1986 and the regulations promulgated hereunder, as they now exist or as they may hereafter be amended.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,494,064$4,358,357▼ $135,707
Cash and Non-Interest-Bearing Accounts$11,493$25,326▲ $13,833
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$5,536,022$5,468,641▼ $67,381
Other Assets Total$1,030,465$1,084,958▲ $54,493
Liabilities
Tax Exempt Bond Liabilities$6,215,000$6,110,000▼ $105,000
Other Liabilities$130,736$130,736→ $0
Accounts Payable and Accrued Expenses$124,062$121,613▼ $2,449
Total Liabilities$6,469,798$6,362,349▼ $107,449
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-933,776$-893,708▲ $40,068
Total Net Assets Fund Balance$-933,776$-893,708▲ $40,068
Total Liabilities and Net Assets / Fund Balance$5,536,022$5,468,641▼ $67,381

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,097,906$1,026,177-
Land$164,000--
Leasehold Improvements$96,451$17,615-
Other Assets Org$1,084,958--
Compensation and Service Providers
Top Officer Pay27th percentile

Board Members and Trustees

NameTitle
Cynthia CarterPresident
Mary Jane BesanteDirector
Jessica MedinaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$562,999
Investment Income
$104
Other Revenue
$0
Change in Net Assets
$40,068

Audited Revenue Reconciliation

Revenue per Audited Statements
$563,103
Total Revenue per Audited Statements
$563,103
Total Revenue per Form 990
$563,103
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$523,035
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$365,756--$365,756
Depreciation Depletion$135,706--$135,706
Fees for Services Accounting$12,020--$12,020
Insurance$3,028--$3,028
Other Expenses$10--$10
Total Functional Expenses$523,035$0$0$523,035

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$523,035
Total Expenses per Audited Statements$523,035
Total Expenses per Form 990$523,035
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advanced Lease Payments$130,736

Bond Issues

BondIssuerIssuedIssue PricePurpose
BPublic Finance Authority2012-10-04$5,875,000Purchase & construction of bui
APublic Finance Authority2012-10-04$840,000Purchase & construction of bui

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$5,745,000--$197,294
A$840,000--$28,598

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Review process consists of board president performing a review and providing approval prior to filing with irs.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Horizon Academy Foundation
EIN
45-3364070
Phone
5059980459
Address
3021 TODOS SANTOS NW, ALBUQUERQUE, NM 87120

Signing Officer

Name
Cynthia Carter
Title
President
Signed
2022-02-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cynthia Carter
Formed
2011
Legal Domicile
Nm
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Cordova CPAs LLC
Address
1109 El Alhambra NW, Albuquerque, NM 87107
Preparer
Robert Cordova
Phone
5052649794
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“REQUEST FOR PROPOSAL”

Raw XML AppendixShowing 400 of 474 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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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0ARBITRAGE REBATE COMPLIANCE EVALUATION DATE: November 20, 2020
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0PURCHASE & CONSTRUCTION OF BUI
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEW PROCESS CONSISTS OF BOARD PRESIDENT PERFORMING A REVIEW AND PROVIDING APPROVAL PRIOR TO FILING WITH IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REQUEST FOR PROPOSAL
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part XII, Line 2: Change of Oversight or Selection Process
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