Civic Intelligence

Success in Education Foundation

990 • Fiscal year 2021 • EIN 45-3567196

Jul 01, 2020 to Jun 30, 2021 • Filed on May 09, 2022

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

46th percentile

0.10x

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

37th percentile

0.09x

Higher debt load relative to revenue than 37% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

91st percentile

62%

Higher net margin than 91% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

75th percentile

$191,812

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

98th percentile

248%

Faster asset growth than 98% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

95th percentile

228%

Faster revenue growth than 95% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$7,564,005

Up $5,389,542 (+248%) from 2020

Net Assets

Up

$6,816,018

Up $5,239,269 (+332%) from 2020

Liabilities

Up

$747,987

Up $150,273 (+25%) from 2020

Revenue

Up

$8,489,669

Up $5,897,533 (+228%) from 2020

Expenses

Up

$3,250,400

Up $785,006 (+32%) from 2020

Net Income

Up

$5,239,269

Up $5,112,527 (+4034%) from 2020

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

2021

Assets$7,564,005
Liabilities$747,987
Net Assets$6,816,018

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

2021

Revenue$8,489,669
Expenses$3,250,400
Net Income$5,239,269
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 9, 2022
Return Version
2020v4.0
Gross Receipts
$8,698,331
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$1,191,246$4,034,232▲ $2,842,986
Intangible Assets$320,790$2,855,278▲ $2,534,488
Pledges and Grants Receivable$559,500$533,166▼ $26,334
Savings and Temporary Cash Investments-$60,205-
Land, Buildings, and Equipment, Net$23,250$35,168▲ $11,918
Prepaid Expenses and Deferred Charges$62,913$27,712▼ $35,201
Accounts Receivable$16,764$18,244▲ $1,480
Total Assets$2,174,463$7,564,005▲ $5,389,542
Liabilities
Grants Payable$255,571$331,032▲ $75,461
Accounts Payable and Accrued Expenses$184,664$304,683▲ $120,019
Other Liabilities$129,184--
Deferred Revenue$28,295$112,272▲ $83,977
Total Liabilities$597,714$747,987▲ $150,273
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$662,512$5,176,054▲ $4,513,542
Net Assets With Donor Restrictions$914,237$1,639,964▲ $725,727
Total Net Assets Fund Balance$1,576,749$6,816,018▲ $5,239,269
Total Liabilities and Net Assets / Fund Balance$2,174,463$7,564,005▲ $5,389,542

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$22,885$20,430$43,315
Equipment$12,283$1,753$14,036
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard L FolkersonPresident/exFT$178,243$13,569$191,812
Richard L FolkersonPresident/exec Director-$143,243$48,569$191,812
Kaitlin DietrichSecretaryFT$49,269-$49,269

Board Members and Trustees

NameTitle
Katharine B GarffChair
Dave WoolstenhulmeBoard Member
David PetersenBoard Member
James JardineBoard Member
Jeff StephensBoard Member
Jesselie B AndersonBoard Member
Nolan E KarrasBoard Member
Patricia JonesBoard Member
Richard E KendallBoard Member
Ron JibsonBoard Member
Trent KaufmanBoard Member
Jim CampbellTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Hoverstate 20Web Design21031 VENTURA BLVD SUITE 320, 1665 ALDER STREET5251 UNIVERSITY OF, Woodland Hills, CA 91364$2,110,100
University Of OregonPlatform DeveloCOLLEGE OF EDUCATION ATTN COE FINAN, Eugene, OR 97403$980,000
Spinoff LLCVideoproduction111 EAST BROADWAY SUITE 900, Salt Lake City, UT 84111$200,000
Cicero ResearchPortal Developm35 N RIO GRANDE, Salt Lake City, UT 84101$122,865
Revenue and Support

Revenue Composition

Contributions and Grants
$8,485,189
Program Service Revenue
$0
Investment Income
$4,480
Other Revenue
$0
All Other Contributions
$7,698,123
Change in Net Assets
$5,239,269

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 Table31$283,697Redemption Value
Other Non Cash Contri Table15$46,500Redemption Value
Other Non Cash Contri Table-$19,839Fair Market Value (FMV)
Total Noncash Contributions46$350,036-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,489,669
Revenue Not Reported on Form 990
$210,715
Total Revenue per Audited Statements
$8,700,384
Total Revenue per Form 990
$8,489,669
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,797,352
Salaries, Compensation, and Employee Benefits$1,201,048
Total Fundraising Expense$434,593
Grants and Similar Amounts Paid$252,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$481,702$98,391$248,619$828,712
Depreciation Depletion$643,693$1,752$175$645,620
Current Officers, Directors, Trustees, and Key Employees$150,701$30,812$77,898$259,411
Grants to Domestic Individuals$223,000--$223,000
Advertising$203,513$286-$203,799
Office Expenses$161,477$10,629$26,222$198,328
Information Technology$114,265$9,555$25,354$149,174
Fees for Services Other$90,106$12,674$6,248$109,028
Payroll Taxes$46,732$9,555$24,156$80,443
Fees for Services Legal$26,305$3,700$1,824$31,829
Other Employee Benefits$17,189$3,514$8,885$29,588
Grants to Domestic Orgs$29,000--$29,000
Travel$4,275$17,057$2,066$23,398
Other Expenses$3,997$13,629$2,160$19,786
Fees for Services Accounting$14,917$2,098$1,034$18,049
All Other Expenses$1,072$12,599$70$13,741
Conferences and Meetings$2,208$8,811$1,067$12,086
Insurance$6,041$2,069$3,481$11,591
Pension Plan Contributions$1,681$344$869$2,894
Occupancy-$205-$205
Total Functional Expenses$2,572,133$243,674$434,593$3,250,400

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,461,115
Expenses per Audited Statements$3,250,400
Total Expenses per Form 990$3,250,400
Expenses Not Reported on Form 990$210,715
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$208,662
Fundraising Gross Income$208,662
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Hole in One$442,143$68,561$40,222$28,339
Fishing the Gre$341,100$56,908$55,944$964
Total Events$866,436$208,662$208,662-
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
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
2022-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard L Folkerson
Formed
2012
Legal Domicile
Ut
Voting Board Members
12
Independent Board Members
11
Employees
13
Volunteers
150

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 2020-2021 school year ended with 63,700 student app downloads and with 160 million in scholarships/tuition waivers available in the app. During the school year, academic scholarships were awarded to 152 students. The keys to success program also sponsored 1 statewide assembly video, accompanied by virtual assembly livestreams for 180 schools, and 1 television event. The program provided 18,000 prizes and incentives for students, with one grand prize of a car giveaway.

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

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 for three years after the date 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/Desc0KEYS 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 2020-2021 SCHOOL YEAR ENDED WITH 63,700 STUDENT APP DOWNLOADS AND WITH 160 MILLION IN SCHOLARSHIPS/TUITION WAIVERS AVAILABLE IN THE APP. DURING THE SCHOOL YEAR, ACADEMIC SCHOLARSHIPS WERE AWARDED TO 152 STUDENTS. THE KEYS TO SUCCESS PROGRAM ALSO SPONSORED 1 STATEWIDE ASSEMBLY VIDEO, ACCOMPANIED BY VIRTUAL ASSEMBLY LIVESTREAMS FOR 180 SCHOOLS, AND 1 TELEVISION EVENT. THE PROGRAM PROVIDED 18,000 PRIZES AND INCENTIVES FOR STUDENTS, WITH ONE GRAND PRIZE OF A CAR GIVEAWAY.
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IRS990/ProgSrvcAccomActy3Grp/Desc0ROAD TO SUCCESS: THE GOAL OF THE PROGRAM IS TO PROVIDE INCENTIVES TO HELP STUDENTS ACHIEVE READING GOALS. DURING THE 2020-2021 SCHOOL YEAR, THE PROGRAM IS INVOLVED WITH 94 ELEMENTARY SCHOOLS, MORE THAN 16,000 STUDENTS AND 1,234 TEACHERS AND ADMINISTRATORS. THE PROGRAM HELPS TO IMPROVE LITERACY, VOCABULARY, AND COMMUNICATION SKILLS BY ENCOURAGING DAILY AND LIFELONG READING HABITS.
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