Civic Intelligence

Success in Education Foundation

990 • Fiscal year 2020 • EIN 45-3567196

Jul 01, 2019 to Jun 30, 2020 • Filed on May 12, 2021

111 East Broadway Ste 900Salt Lake City, UT 84111

(801) 257-3414

Siviq Scores

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

Liabilities / Assets

69th percentile

0.27x

Higher debt load relative to assets than 69% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

63rd percentile

0.23x

Higher debt load relative to revenue than 63% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

49th percentile

4.9%

Higher net margin than 49% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

89th percentile

$186,265

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

77th percentile

26%

Faster asset growth than 77% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

39th percentile

-5.0%

Faster revenue growth than 39% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$2,174,463

Up $454,558 (+26%) from 2019

Net Assets

Up

$1,576,749

Up $289,540 (+22%) from 2019

Liabilities

Up

$597,714

Up $165,018 (+38%) from 2019

Revenue

Down

$2,592,136

Down $136,477 (-5.0%) from 2019

Expenses

Down

$2,465,394

Down $5,470 (-0.2%) from 2019

Net Income

Down

$126,742

Down $131,007 (-51%) from 2019

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2012: $440,816Liabilities 2012: $244,443Net Assets 2012: $196,3732012Assets 2013: $556,687Liabilities 2013: $440,980Net Assets 2013: $115,7072013Assets 2014: $521,277Liabilities 2014: $226,357Net Assets 2014: $294,9202014Assets 2015: $672,484Liabilities 2015: $228,435Net Assets 2015: $444,0492015Assets 2016: $794,435Liabilities 2016: $195,507Net Assets 2016: $598,9282016Assets 2017: $1,674,834Liabilities 2017: $675,078Net Assets 2017: $999,7562017Assets 2018: $1,454,070Liabilities 2018: $397,997Net Assets 2018: $1,056,0732018Assets 2019: $1,719,905Liabilities 2019: $432,696Net Assets 2019: $1,287,2092019Assets 2020: $2,174,463Liabilities 2020: $597,714Net Assets 2020: $1,576,7492020Assets 2021: $7,564,005Liabilities 2021: $747,987Net Assets 2021: $6,816,0182021Assets 2022: $6,961,359Liabilities 2022: $337,062Net Assets 2022: $6,624,2972022Assets 2023: $5,601,782Liabilities 2023: $259,160Net Assets 2023: $5,342,6222023Assets 2024: $5,009,401Liabilities 2024: $335,323Net Assets 2024: $4,674,0782024

Highlighted filing

2020

Assets$2,174,463
Liabilities$597,714
Net Assets$1,576,749

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2012: $572,870Expenses 2012: $376,497Net Income 2012: $196,3732012Expenses 2013: $971,0402013Revenue 2014: $1,391,337Expenses 2014: $1,534,124Net Income 2014: -$142,7872014Revenue 2015: $1,596,656Expenses 2015: $1,447,527Net Income 2015: $149,1292015Revenue 2016: $1,714,819Expenses 2016: $1,559,940Net Income 2016: $154,8792016Revenue 2017: $2,098,469Expenses 2017: $1,697,641Net Income 2017: $400,8282017Revenue 2018: $2,091,149Expenses 2018: $2,034,832Net Income 2018: $56,3172018Revenue 2019: $2,728,613Expenses 2019: $2,470,864Net Income 2019: $257,7492019Revenue 2020: $2,592,136Expenses 2020: $2,465,394Net Income 2020: $126,7422020Revenue 2021: $8,489,669Expenses 2021: $3,250,400Net Income 2021: $5,239,2692021Revenue 2022: $3,601,243Expenses 2022: $3,923,905Net Income 2022: -$322,6622022Revenue 2023: $3,510,674Expenses 2023: $4,792,349Net Income 2023: -$1,281,6752023Revenue 2024: $3,948,717Expenses 2024: $4,617,237Net Income 2024: -$668,5202024

Highlighted filing

2020

Revenue$2,592,136
Expenses$2,465,394
Net Income$126,742
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 12, 2021
Return Version
2019v5.0
Gross Receipts
$2,687,987
Mission and Program Overview

Mission

Promote excellence in education and help utah students prepare for post- secondary education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$405,619$1,191,246▲ $785,627
Pledges and Grants Receivable$909,925$559,500▼ $350,425
Intangible Assets$349,014$320,790▼ $28,224
Prepaid Expenses and Deferred Charges$20,622$62,913▲ $42,291
Land, Buildings, and Equipment, Net$34,725$23,250▼ $11,475
Accounts Receivable-$16,764-
Total Assets$1,719,905$2,174,463▲ $454,558
Liabilities
Grants Payable$334,369$255,571▼ $78,798
Accounts Payable and Accrued Expenses$69,067$184,664▲ $115,597
Other Liabilities-$129,184-
Deferred Revenue$29,260$28,295▼ $965
Total Liabilities$432,696$597,714▲ $165,018
Net Assets / Fund Balance
Net Assets With Donor Restrictions$883,972$914,237▲ $30,265
Net Assets Without Donor Restrictions$403,237$662,512▲ $259,275
Total Net Assets Fund Balance$1,287,209$1,576,749▲ $289,540
Total Liabilities and Net Assets / Fund Balance$1,719,905$2,174,463▲ $454,558

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$23,250$11,575$34,825
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard L FolkersonPresident/exFT$173,431$12,834$186,265
Richard L FolkersonPresident/exec Director-$143,431$42,834$186,265
Kaitlin DietrichSecretary-$58,750$4,930$63,680

Board Members and Trustees

NameTitle
Katharine B GarffChair
Alan HallBoard Member
James S JardineBoard Member
Jesselie B AndersonBoard Member
Linda MariottiBoard Member
Nolan E KarrasBoard Member
Richard E KendallBoard Member
Jim CampbellTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Hoverstate 20Web Design21031 VENTURA BLVD SUITE 320, Woodland Hills, CA 91364$545,335
Revenue and Support

Revenue Composition

Contributions and Grants
$2,585,730
Program Service Revenue
$0
Investment Income
$406
Other Revenue
$6,000
All Other Contributions
$2,405,855
Change in Net Assets
$126,742

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table14,500$291,564Redemption Value
Clothing and Household Goods-$77,455-
Other Non Cash Contri Table199$59,000Cash Value
Total Noncash Contributions14,699$428,019-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,592,136
Revenue Not Reported on Form 990
$143,194
Total Revenue per Audited Statements
$2,735,330
Total Revenue per Form 990
$2,592,136
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,336,638
Salaries, Compensation, and Employee Benefits$830,482
Total Fundraising Expense$348,125
Grants and Similar Amounts Paid$298,274
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$306,351$63,718$187,158$557,227
Depreciation Depletion$369,373--$369,373
Grants to Domestic Individuals$298,274--$298,274
Current Officers, Directors, Trustees, and Key Employees$114,613$23,839$70,020$208,472
Information Technology$185,979$1,792$4,746$192,517
Office Expenses$85,295$4,289$20,725$110,309
Fees for Services Other$89,772$1,196$730$91,698
Fees for Services Legal$59,831--$59,831
Payroll Taxes$29,364$6,107$17,939$53,410
Travel$17,720$2,352$13,861$33,933
Other Expenses$6,199$449$15,955$22,603
Fees for Services Accounting-$21,500-$21,500
Insurance$7,891$1,751$5,224$14,866
Advertising$9,072$2,355$979$12,406
Other Employee Benefits$6,253$1,300$3,820$11,373
Conferences and Meetings$5,661$751$4,429$10,841
All Other Expenses-$6,164-$6,164
Total Functional Expenses$1,960,151$157,118$348,125$2,465,394

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,608,588
Expenses per Audited Statements$2,465,394
Total Expenses per Form 990$2,465,394
Expenses Not Reported on Form 990$143,194
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$95,851
Fundraising Gross Income$95,851
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fishing the Gre$275,726$95,851$85,798$10,053
Total Events$275,726$95,851$95,851-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advance$129,184
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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, Page 6, Part VI, Line 2

Katharine b. Garff richard folkerson family relationship

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

The board members receive copies of the audit report and the form 990. The form 990 is reconciled to the audited financial statements and reviewed by the officers of the foundation.

Form 990, Page 6, Part VI, Line 19

The organization's governing document and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Success in Education Foundation
EIN
45-3567196
Phone
8012573414
Address
111 EAST BROADWAY STE 900, SALT LAKE CITY, UT 84111

Signing Officer

Name
Richard L Folkerson
Title
President/exec Director
Phone
8012573414
Signed
2021-05-12

Organization Details

Principal Officer
Richard L Folkerson
Formed
2012
Legal Domicile
Ut
Voting Board Members
8
Independent Board Members
7
Employees
13
Volunteers
100

Preparer

Firm
Larson & Company Pc
Address
11240 S RIVER HEIGHTS DR SUITE 300, SOUTH JORDAN, UT 84095-5123
Preparer
Richard Scoresby CPA
Phone
8013131900
Supplemental Narrative

Additional Explanations

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

Keys to success: the goal of the program is to inspire change in the students' lives by motivating, connecting, and rewarding them for their improvements in educational performance. In the fall of 2018, the keys to success app was launched to provide students with scholarships, internships, and other career opportunities personalized to their chosen career interests. Students can track their progress, receive push notifications, and use additional tools like the act prep and fasfa help to help them unlock their future. The more students interact with the app, the more points students earn that can be redeemed for awesome prizes. The app makes it easy for parents to engage with their students' future, goals, and career interests. The 2019-2020 school year ended with 30,000 student app downloads and with 134 million in scholarships/tuition waivers available in the app. During the school year, academic scholarships were awarded to 175 students. The keys to success program also sponsored 74 virtual assemblies and 1 television event. The program provided 74 grand prizes of 300 apple gift cards plus 1 grand prize of a free car overall for the achievement of educational related goals. Over 30,000 key cards were distributed by teachers and redeemed for prizes on the keys to success app. It is estimated that hundreds of thousands of high school students have benefited from this program.

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

Code to success: the goal of the program is to bridge the gap between education and industry by getting students interested in programming and setting them on a successful education pathway in computer science. Provides students with the opportunity to access coding training modules, obtain one-on-one mentoring from experts and take advantage of networking opportunities to pursue internships through a summer coding boot camp. The program had 677 utah students participate in the 2021 program from 28 school districts. Academic scholarships were awarded to 24 students during the year. The program provided electronic code to success graduation certificates and high school credit for 258 utah students. Also, code to success provided digital idaho codes certificates for 157 idaho students. This certificate is accompanied with a letter of completion of the first three stackable credentials for those students who completed both coding foundations and dissecting react js courses during the six-week program. Stackable credentials and college credit are provided through bottega.

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation's returns of organization exempt from income tax (form 990) are subject to examination by the irs generally for three years after they were filed. The foundation believes it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements.

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IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
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IRS990/OtherExpensesGrp/Desc0PRIZE & AWARDS
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IRS990/PrincipalOfficerNm0RICHARD L FOLKERSON
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IRS990/ProgSrvcAccomActy2Grp/Desc0ROAD TO SUCCESS: THE GOAL OF THE PROGRAM IS TO PROVIDE INCENTIVES TO HELP STUDENTS ACHIEVE READING GOALS. THE PROGRAM IS INVOLVED WITH 120 ELEMENTARY SCHOOLS, MORE THAN 20,000 STUDENTS AND 1,500 TEACHERS AND ADMINISTRATORS. THE PROGRAM HELPS TO IMPROVE LITERACY, VOCABULARY, AND COMMUNICATION SKILLS BY ENCOURAGING DAILY AND LIFELONG READING HABITS. THE PROGRAM HAS SUPPLIED 6,000 BOOKS TO ELEMENTARY SCHOOLS AS WELL AS PROVIDED OVER 80,000 REWARDS FOR ACHIEVEMENT.
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IRS990/ProgSrvcAccomActy3Grp/Desc0CODE TO SUCCESS: THE GOAL OF THE PROGRAM IS TO BRIDGE THE GAP BETWEEN EDUCATION AND INDUSTRY BY GETTING STUDENTS INTERESTED IN PROGRAMMING AND SETTING THEM ON A SUCCESSFUL EDUCATION PATHWAY IN COMPUTER SCIENCE. PROVIDES STUDENTS WITH THE OPPORTUNITY TO ACCESS CODING TRAINING MODULES, OBTAIN ONE-ON-ONE MENTORING FROM EXPERTS AND TAKE ADVANTAGE OF NETWORKING OPPORTUNITIES TO PURSUE INTERNSHIPS THROUGH A SUMMER CODING BOOT CAMP. THE PROGRAM HAD 677 UTAH STUDENTS PARTICIPATE IN THE 2021 PROGRAM FROM 28 SCHOOL DISTRICTS. ACADEMIC SCHOLARSHIPS WERE AWARDED TO 24 STUDENTS DURING THE YEAR. THE PROGRAM PROVIDED ELECTRONIC CODE TO SUCCESS GRADUATION CERTIFICATES AND HIGH SCHOOL CREDIT FOR 258 UTAH STUDENTS. ALSO, CODE TO SUCCESS PROVIDED DIGITAL IDAHO CODES CERTIFICATES FOR 157 IDAHO STUDENTS. THIS CERTIFICATE IS ACCOMPANIED WITH A LETTER OF COMPLETION OF THE FIRST THREE STACKABLE CREDENTIALS FOR THOSE STUDENTS WHO COMPLETED BOTH CODING FOUNDATIONS AND DISSECTING REACT JS COURSES DURING THE SIX-WEEK PROGRAM. STACKABLE CREDENTIALS AND COLLEGE CREDIT ARE PROVIDED THROUGH BOTTEGA.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'S RETURNS OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) ARE SUBJECT TO EXAMINATION BY THE IRS GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. THE FOUNDATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FISHING THE GRE
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION RECEIVES SCHOLARSHIP MONIES FROM VARIOUS CONTRIBUTORS AND EDUCATIONAL INSTITUTIONS. THESE MONIES ARE HELD AND CONTROLLED BY THE FOUNDATION UNTIL SUCH TIME AS THE SCHOLARSHIPS ARE AWARDED. WHEN THE SCHOLARSHIPS ARE AWARDED, THE FOUNDATION RECORDS THE SCHOLARSHIP PAYABLE. WHEN ALL THE TERMS HAVE BEEN FULFILLED, THE FOUNDATION RECEIVES DOCUMENTATION FROM THE EDUCATIONAL INSTITUTION THAT THE RECEIPIENT HAS REGISTERED FOR CLASSES. PAYMENT IS THEN SENT DIRECTLY TO THE EDUCATIONAL INSTITUTION IN THE NAME OF THE SCHOLARSHIP RECEIPIENT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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