Civic Intelligence

Ilead Charter Schools

990 • Fiscal year 2015 • EIN 45-4768181

Jul 01, 2014 to Jun 30, 2015 • Filed on Apr 19, 2016

Organization ProfileWWW.ILEADCHARTERSCHOOL.ORG
254 East Avenue K-4Lancaster, CA 93535

(661) 722-4287

Siviq Scores

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

Liabilities / Assets

71st percentile

0.34x

Higher debt load relative to assets than 71% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

46th percentile

0.09x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

60th percentile

6.4%

Higher net margin than 60% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

82nd percentile

$143,147

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

24th percentile

-4.6%

Faster asset growth than 24% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

90th percentile

59%

Faster revenue growth than 90% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$1,067,305

Down $51,964 (-4.6%) from 2014

Net Assets

Up

$707,681

Up $259,093 (+58%) from 2014

Liabilities

Down

$359,624

Down $311,057 (-46%) from 2014

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin60th percentile

Revenue

Up

$4,077,000

Up $1,518,390 (+59%) from 2014

Expenses

Up

$3,817,907

Up $1,595,602 (+72%) from 2014

Net Income

Down

$259,093

Down $77,212 (-23%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$30M$20M$10M$0Assets 2013: $604,233Liabilities 2013: $491,950Net Assets 2013: $112,2832013Assets 2014: $1,119,269Liabilities 2014: $670,681Net Assets 2014: $448,5882014Assets 2015: $1,067,305Liabilities 2015: $359,624Net Assets 2015: $707,6812015Assets 2016: $1,460,793Liabilities 2016: $322,357Net Assets 2016: $1,138,4362016Assets 2017: $1,770,330Liabilities 2017: $220,454Net Assets 2017: $1,549,8762017Assets 2018: $2,285,129Liabilities 2018: $1,058,498Net Assets 2018: $1,226,6312018Assets 2019: $2,860,147Liabilities 2019: $1,618,717Net Assets 2019: $1,241,4302019Assets 2020: $4,185,362Liabilities 2020: $1,340,028Net Assets 2020: $2,845,3342020Assets 2021: $7,716,419Liabilities 2021: $3,907,261Net Assets 2021: $3,809,1582021Assets 2022: $8,104,102Liabilities 2022: $2,392,573Net Assets 2022: $5,711,5292022Assets 2023: $24,159,950Liabilities 2023: $18,030,444Net Assets 2023: $6,129,5062023

Highlighted filing

2015

Assets$1,067,305
Liabilities$359,624
Net Assets$707,681
Open 2015 Filing

Operations Trend

Revenue Growth90th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2013: $1,184,026Expenses 2013: $1,071,269Net Income 2013: $112,7572013Revenue 2014: $2,558,610Expenses 2014: $2,222,305Net Income 2014: $336,3052014Revenue 2015: $4,077,000Expenses 2015: $3,817,907Net Income 2015: $259,0932015Revenue 2016: $5,494,318Expenses 2016: $5,063,563Net Income 2016: $430,7552016Revenue 2017: $6,433,530Expenses 2017: $6,022,090Net Income 2017: $411,4402017Revenue 2018: $6,784,304Expenses 2018: $7,107,549Net Income 2018: -$323,2452018Revenue 2019: $8,068,788Expenses 2019: $8,053,989Net Income 2019: $14,7992019Revenue 2020: $9,552,331Expenses 2020: $7,948,427Net Income 2020: $1,603,9042020Revenue 2021: $10,479,618Expenses 2021: $9,515,794Net Income 2021: $963,8242021Revenue 2022: $10,685,623Expenses 2022: $9,466,560Net Income 2022: $1,219,0632022Revenue 2023: $12,060,632Expenses 2023: $11,642,655Net Income 2023: $417,9772023

Highlighted filing

2015

Revenue$4,077,000
Expenses$3,817,907
Net Income$259,093
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Apr 19, 2016
Return Version
2014v6.0
Gross Receipts
$4,077,000
Mission and Program Overview

Mission

The mission of ilead lancaster charter school is to empower students to become conscientious, compassionate, and responsible citizens of the world.

The mission of ilead lancaster charter school is free to think. Inspired to lead.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$755,581$827,005▲ $71,424
Cash and Non-Interest-Bearing Accounts$363,688$240,300▼ $123,388
Total Assets$1,119,269$1,067,305▼ $51,964
Liabilities
Other Liabilities-$175,000-
Accounts Payable and Accrued Expenses$545,681$122,124▼ $423,557
Unsecured Notes Loans Payable$125,000$62,500▼ $62,500
Total Liabilities$670,681$359,624▼ $311,057
Net Assets / Fund Balance
Unrestricted Net Assets$448,588$707,681▲ $259,093
Total Net Assets Fund Balance$448,588$707,681▲ $259,093
Total Liabilities and Net Assets / Fund Balance$1,119,269$1,067,305▼ $51,964
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dawn EvensonPresident--$143,147$143,147
Lynn BoopSec/treas/prFT$100,000$15,564$115,564
Keith FaulknerDirector--$74,742$74,742
Zenaida MoralesDirectorFT$41,000$9,470$50,470

Board Members and Trustees

NameTitle
QIANA O'LEARYDirector
Latorra SaxtonVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$3,997,340
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$79,660
All Other Contributions
$33,557
Change in Net Assets
$259,093

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,077,000
Total Revenue per Audited Statements
$4,077,000
Total Revenue per Form 990
$4,077,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,042,425
Other Expenses$1,775,482
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,337,968$196,623-$1,534,591
Occupancy$696,508--$696,508
Fees for Services Management-$524,609-$524,609
Other Employee Benefits$155,116$29,469-$184,585
Current Officers, Directors, Trustees, and Key Employees$166,034--$166,034
Payroll Taxes$78,391$19,645-$98,036
Office Expenses$63,139$4,768-$67,907
Pension Plan Contributions$59,179--$59,179
Fees for Services Other$50,783$7,252-$58,035
Insurance-$39,446-$39,446
Other Expenses$36,008$10,282-$36,008
Information Technology$20,290--$20,290
Conferences and Meetings$20,009--$20,009
Advertising$11,080--$11,080
Interest-$10,587-$10,587
Travel$1,527--$1,527
Total Functional Expenses$2,975,226$842,681$0$3,817,907

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,817,907
Total Expenses per Audited Statements$3,817,907
Total Expenses per Form 990$3,817,907
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
Line of Credit$175,000
Governance and Compliance

Governance Checklist

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

“A copy of the form 990 is presented to the board for comments and/or approval prior to filing the form.”

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

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees considering the proposed transaction or arrangement. The board shall decide if a conflict of interest exists.”

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

“Human resources performs market research based on industry and size when determining compensation for officers or key employees of the organization. The board reviews and approves the compensation amounts.”

Form 990, Page 6, Part VI, Line 19

“These documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Ilead Charter Schools
EIN
45-4768181
Phone
6617224287
Address
254 EAST AVENUE K-4, LANCASTER, CA 93535

Signing Officer

Name
Dawn Evenson
Title
President
Phone
6617224287
Signed
2016-04-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dawn Evenson
Formed
2012
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
5
Employees
85
Volunteers
150

Preparer

Firm
Vicenti Lloyd & Stutzman
Address
2210 E ROUTE 66 STE 100, GLENDORA, CA 91740-4676
Preparer
Wade Mcmullen CPA
Phone
6268577300
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The school is a non-profit entity exempt from the payment of income taxes under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. Accordingly, no provision has been made for income taxes. Management has determined that all income tax positions are more likely than not of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. The school files informational returns in the u.s. Federal jurisdiction, and the state of california. The statute of limitations for federal and california state purposes is generally three and four years, respectively.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS A NON-PROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. THE SCHOOL FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF CALIFORNIA. THE STATUTE OF LIMITATIONS FOR FEDERAL AND CALIFORNIA STATE PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY.
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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE CHARTER MAKES ITS NONDISCRIMINATORY POLICY KNOWN THROUGH ITS WEBSITE AND ON THE STUDENTS' APPLICATIONS. THE CHARTER DRAWS ITS STUDENTS FROM THE LOCAL COMMUNITY, AND CURRENTLY ENROLLS STUDENTS FROM VARIOUS RACIAL MINORITY GROUPS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1AS A PUBLIC CHARTER SCHOOL, THE CHARTER SCHOOL RECEIVES A PER ADA FEE FROM THE CALIFORNIA DEPARTMENT OF EDUCATION FOR EVERY PUPIL ATTENDING THE SCHOOL. ADDITIONALLY, CHARTER IS ELIGIBLE FOR LOCAL, STATE, FEDERAL PROGRAMS, AND CALIFORNIA LOTTERY FUNDS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PRESENTED TO THE BOARD FOR COMMENTS AND/OR APPROVAL PRIOR TO FILING THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. THE BOARD SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HUMAN RESOURCES PERFORMS MARKET RESEARCH BASED ON INDUSTRY AND SIZE WHEN DETERMINING COMPENSATION FOR OFFICERS OR KEY EMPLOYEES OF THE ORGANIZATION. THE BOARD REVIEWS AND APPROVES THE COMPENSATION AMOUNTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0842681
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02975226
IRS990/TotalFunctionalExpensesGrp/TotalAmt03817907
IRS990/TotalGrossUBIAmt00
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IRS990/WebsiteAddressTxt0WWW.ILEADCHARTERSCHOOL.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-08-17 19:52:53Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0DAWN EVENSON
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ReturnHeader/BusinessOfficerGrp/SignatureDt02016-04-19
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02210 E ROUTE 66 STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLENDORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
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ReturnHeader/PreparerPersonGrp/PreparationDt02016-04-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WADE MCMULLEN CPA

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,067,305
Liabilities
$359,624
Net assets
$707,681
Revenue
$4,077,000
Expenses
$3,817,907
Net income
$259,093
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$24.2$18.0$6.13$12.1$11.6$0.42
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.10$2.39$5.71$10.7$9.47$1.22
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.72$3.91$3.81$10.5$9.52$0.96
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.19$1.34$2.85$9.55$7.95$1.60
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.86$1.62$1.24$8.07$8.05$0.01
2018Summary only. Only limited summary data is available for this year.$2.29$1.06$1.23$6.78$7.11$0.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.77$0.22$1.55$6.43$6.02$0.41
2016Detailed filing. Detailed filing data is available for this year.$1.46$0.32$1.14$5.49$5.06$0.43
2015Detailed filing. Detailed filing data is available for this year.$1.07$0.36$0.71$4.08$3.82$0.26
2014Detailed filing. Detailed filing data is available for this year.$1.12$0.67$0.45$2.56$2.22$0.34
2013Summary only. Only limited summary data is available for this year.$0.60$0.49$0.11$1.18$1.07$0.11