Civic Intelligence

Performing Arts Academy

990 • Fiscal year 2023 • EIN 45-4372479

Jan 01, 2023 to Dec 31, 2023 • Filed on Feb 09, 2024

5690 County Line Place Ste AHighlands Ranch, CO 80126

(303) 900-7041

Siviq Scores

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

Liabilities / Assets

76th percentile

0.33x

Higher debt load relative to assets than 76% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

66th percentile

0.21x

Higher debt load relative to revenue than 66% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

63rd percentile

11%

Higher net margin than 63% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

48th percentile

$50,821

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

34th percentile

-0.5%

Faster asset growth than 34% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

64th percentile

17%

Faster revenue growth than 64% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$804,514

Down $4,113 (-0.5%) from 2022

Net Assets

Up

$537,203

Up $140,116 (+35%) from 2022

Liabilities

Down

$267,311

Down $144,229 (-35%) from 2022

Revenue

Up

$1,268,207

Up $185,754 (+17%) from 2022

Expenses

Up

$1,128,091

Up $107,729 (+11%) from 2022

Net Income

Up

$140,116

Up $78,025 (+126%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2013: $19,655Liabilities 2013: $7,566Net Assets 2013: $12,0892013Assets 2014: $39,602Liabilities 2014: $15,381Net Assets 2014: $24,2212014Assets 2015: $138,299Liabilities 2015: $21,413Net Assets 2015: $116,8862015Assets 2016: $145,077Liabilities 2016: $23,560Net Assets 2016: $121,5172016Assets 2017: $161,294Liabilities 2017: $28,032Net Assets 2017: $133,2622017Assets 2018: $184,296Liabilities 2018: $44,306Net Assets 2018: $139,9902018Assets 2019: $267,791Liabilities 2019: $83,529Net Assets 2019: $184,2622019Assets 2020: $326,375Liabilities 2020: $94,045Net Assets 2020: $232,3302020Assets 2021: $432,362Liabilities 2021: $97,366Net Assets 2021: $334,9962021Assets 2022: $808,627Liabilities 2022: $411,540Net Assets 2022: $397,0872022Assets 2023: $804,514Liabilities 2023: $267,311Net Assets 2023: $537,2032023Assets 2024: $822,976Liabilities 2024: $200,987Net Assets 2024: $621,9892024Assets 2025: $1,258,360Liabilities 2025: $575,492Net Assets 2025: $682,8682025

Highlighted filing

2023

Assets$804,514
Liabilities$267,311
Net Assets$537,203

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Revenue 2013: $125,660Expenses 2013: $120,026Net Income 2013: $5,6342013Revenue 2014: $192,554Expenses 2014: $180,422Net Income 2014: $12,1322014Revenue 2015: $309,794Expenses 2015: $217,129Net Income 2015: $92,6652015Revenue 2016: $342,787Expenses 2016: $338,156Net Income 2016: $4,6312016Revenue 2017: $422,860Expenses 2017: $411,115Net Income 2017: $11,7452017Revenue 2018: $492,592Expenses 2018: $485,864Net Income 2018: $6,7282018Revenue 2019: $575,844Expenses 2019: $531,572Net Income 2019: $44,2722019Revenue 2020: $576,325Expenses 2020: $528,257Net Income 2020: $48,0682020Revenue 2021: $854,339Expenses 2021: $751,673Net Income 2021: $102,6662021Revenue 2022: $1,082,453Expenses 2022: $1,020,362Net Income 2022: $62,0912022Revenue 2023: $1,268,207Expenses 2023: $1,128,091Net Income 2023: $140,1162023Revenue 2024: $1,366,279Expenses 2024: $1,281,493Net Income 2024: $84,7862024Revenue 2025: $1,530,028Expenses 2025: $1,469,149Net Income 2025: $60,8792025

Highlighted filing

2023

Revenue$1,268,207
Expenses$1,128,091
Net Income$140,116
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Feb 9, 2024
Return Version
2023v4.0
Gross Receipts
$1,313,562
Mission and Program Overview

Mission

Creating a connected community, developing and building each student's character, and inspiring excellence through classes and productions. Experiencing the power of collective achievement provides a foundation on which our students build an awareness of their place in the world, while growing through creative opportunities, and deepening their understanding that together, we become more than we are individually.

To provide transformative character building experiences through performing arts education See Part III line 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$351,888$263,363▼ $88,525
Savings and Temporary Cash Investments$21,033$235,374▲ $214,341
Investments in Publicly Traded Securities$190,121$210,295▲ $20,174
Cash and Non-Interest-Bearing Accounts$181,687$43,421▼ $138,266
Prepaid Expenses and Deferred Charges$27,158$28,532▲ $1,374
Investments Other Securities$10,000$10,000→ $0
Accounts Receivable$18,392$5,181▼ $13,211
Total Assets$808,627$804,514▼ $4,113
Other Assets Total$8,348$8,348→ $0
Liabilities
Other Liabilities$297,683$187,885▼ $109,798
Deferred Revenue$97,958$65,194▼ $32,764
Accounts Payable and Accrued Expenses$15,899$14,232▼ $1,667
Total Liabilities$411,540$267,311▼ $144,229
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$226,610$297,731▲ $71,121
Net Assets With Donor Restrictions$170,477$239,472▲ $68,995
Total Net Assets Fund Balance$397,087$537,203▲ $140,116
Total Liabilities and Net Assets / Fund Balance$808,627$804,514▼ $4,113

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$75,478$60,570$136,048
Other Land Buildings$187,885--
Other Assets Org$8,348--
Other Securities$10,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
James RamseyExecutive DirectorPT$50,821$50,821

Board Members and Trustees

NameTitle
David RhodesBoard Chair
Marty DavidsonVice Chair
Elise CollinsDirector
Holly CoorsDirector
Rebecca GivensDirector
Chris BrendlingerSecretary
Ken FongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$532,510
Program Service Revenue
$701,113
Investment Income
$6,225
Other Revenue
$28,359
All Other Contributions
$159,288
Change in Net Assets
$140,116
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$649,612
Salaries, Compensation, and Employee Benefits$440,940
Total Fundraising Expense$78,193
Grants and Similar Amounts Paid$37,539
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$285,939$27,040$31,896$344,875
Occupancy$150,013$11,425$9,996$171,434
Advertising$58,679$972-$59,651
Current Officers, Directors, Trustees, and Key Employees$30,493$10,164$10,164$50,821
Grants to Domestic Individuals$37,539--$37,539
Payroll Taxes$28,524$3,354$3,791$35,669
Royalties$33,389--$33,389
Office Expenses$6,923$8,042$5,139$20,104
Fees for Services Other$6,000$5,800$5,800$17,600
Depreciation Depletion$15,574$644-$16,218
Other Expenses$10,340$3,642$1,176$15,158
Other Employee Benefits$125$9,038$412$9,575
All Other Expenses$2,481$3,102$2,844$8,427
Insurance$2,782$2,666$1,333$6,781
Information Technology$4,663$666$1,333$6,662
Total Functional Expenses$963,343$86,555$78,193$1,128,091
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$73,714
Fundraising Direct Expenses$45,355
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$128,639$65,483$2,771$62,712
Fr$55,347$8,231$5,186$3,045
Total Events$183,986$73,714$45,355$28,359
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating lease liability$187,885
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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

Part VI Line 11B

Reviewed and approved by the Executive Director and Finance Manager and

Part VI Line 11B

distributed to the Board of Directors.

Part VI Line 19

Upon request

Filing and Contact Details

Filer

Filer Name
Performing Arts Academy
EIN
45-4372479
In Care Of
% James Ramsey
Phone
3039007041
Address
5690 County Line Place Ste A, Highlands Ranch, CO 80126

Signing Officer

Name
James Ramsey
Title
Dr
Phone
3039007041
Signed
2024-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Rhodes Board Chair
Formed
2011
Legal Domicile
Co
Voting Board Members
7
Independent Board Members
7
Employees
13
Volunteers
39

Preparer

Firm
Cindy McGrorey CPA LLC
Address
1913 Catkins Court, Fort Collins, CO 80528
Preparer
Cynthia B Mcgrorey
Phone
9704813835
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