Civic Intelligence

Value Schools Foundation

990 • Fiscal year 2021 • EIN 45-5233028

Jul 01, 2020 to Jun 30, 2021 • Filed on May 12, 2022

Organization ProfileWWW.VALUESCHOOLS.COM
680 Wilshire Place No 315Los Angeles, CA 90005

(213) 388-8695

Siviq Scores

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

Liabilities / Assets

90th percentile

0.88x

Higher debt load relative to assets than 90% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

95th percentile

6.24x

Higher debt load relative to revenue than 95% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

77th percentile

34%

Higher net margin than 77% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

31st percentile

$178,775

Higher top officer pay than 31% of similar nonprofits.

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

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

90th percentile

42%

Faster asset growth than 90% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

77th percentile

44%

Faster revenue growth than 77% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$36,190,570

Up $10,662,114 (+42%) from 2020

Net Assets

Up

$4,502,162

Up $1,729,122 (+62%) from 2020

Liabilities

Up

$31,688,408

Up $8,932,992 (+39%) from 2020

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin77th percentile

Revenue

Up

$5,076,003

Up $1,543,316 (+44%) from 2020

Expenses

Down

$3,346,881

Down $7,707 (-0.2%) from 2020

Net Income

Up

$1,729,122

Up $1,551,023 (+871%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$60M$40M$20M$0Assets 2014: $18,133,775Liabilities 2014: $15,052,960Net Assets 2014: $3,080,8152014Assets 2015: $17,622,912Liabilities 2015: $14,530,904Net Assets 2015: $3,092,0082015Assets 2016: $17,058,051Liabilities 2016: $14,441,326Net Assets 2016: $2,616,7252016Assets 2017: $25,777,604Liabilities 2017: $23,018,696Net Assets 2017: $2,758,9082017Assets 2018: $25,039,973Liabilities 2018: $22,362,917Net Assets 2018: $2,677,0562018Assets 2019: $25,241,389Liabilities 2019: $22,646,448Net Assets 2019: $2,594,9412019Assets 2020: $25,528,456Liabilities 2020: $22,755,416Net Assets 2020: $2,773,0402020Assets 2021: $36,190,570Liabilities 2021: $31,688,408Net Assets 2021: $4,502,1622021Assets 2022: $37,084,101Liabilities 2022: $32,636,948Net Assets 2022: $4,447,1532022Assets 2023: $55,686,775Liabilities 2023: $50,993,916Net Assets 2023: $4,692,8592023Assets 2024: $54,632,028Liabilities 2024: $50,378,377Net Assets 2024: $4,253,6512024

Highlighted filing

2021

Assets$36,190,570
Liabilities$31,688,408
Net Assets$4,502,162
Open 2021 Filing

Operations Trend

Revenue Growth77th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $4,056,667Expenses 2014: $1,015,672Net Income 2014: $3,040,9952014Revenue 2015: $1,215,379Expenses 2015: $1,214,137Net Income 2015: $1,2422015Revenue 2016: $1,247,996Expenses 2016: $1,714,164Net Income 2016: -$466,1682016Revenue 2017: $1,949,460Expenses 2017: $1,841,477Net Income 2017: $107,9832017Revenue 2018: $2,327,774Expenses 2018: $2,412,142Net Income 2018: -$84,3682018Revenue 2019: $2,808,066Expenses 2019: $2,890,181Net Income 2019: -$82,1152019Revenue 2020: $3,532,687Expenses 2020: $3,354,588Net Income 2020: $178,0992020Revenue 2021: $5,076,003Expenses 2021: $3,346,881Net Income 2021: $1,729,1222021Revenue 2022: $4,234,349Expenses 2022: $4,289,358Net Income 2022: -$55,0092022Revenue 2023: $4,676,645Expenses 2023: $4,430,939Net Income 2023: $245,7062023Revenue 2024: $4,009,314Expenses 2024: $4,448,522Net Income 2024: -$439,2082024

Highlighted filing

2021

Revenue$5,076,003
Expenses$3,346,881
Net Income$1,729,122
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.2
Gross Receipts
$5,323,503
Mission and Program Overview

Mission

Value schools foundation facilitates the development of charter schools, to lease, own, manage, maitain and operate an educational institution, to provide charter school facilities and operational and other support to charter schools, to assist philanthropists and foundations in accelerating the growth of high quality charter schools, and to provide and otherwise obtain or assist in obtaining charter school financing.

To support the development of charter schools through purchasing and owning school's facilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,224,405$21,542,478▲ $2,318,073
Savings and Temporary Cash Investments$3,070,542$11,644,338▲ $8,573,796
Cash and Non-Interest-Bearing Accounts$697,367$701,333▲ $3,966
Investments in Publicly Traded Securities$247,500--
Prepaid Expenses and Deferred Charges$67,996$69,357▲ $1,361
Accounts Receivable$405,591$40,444▼ $365,147
Total Assets$25,528,456$36,190,570▲ $10,662,114
Other Assets Total$1,815,055$2,192,620▲ $377,565
Liabilities
Tax Exempt Bond Liabilities$19,890,850$28,699,510▲ $8,808,660
Other Liabilities$2,551,361$2,580,102▲ $28,741
Accounts Payable and Accrued Expenses$118,626$221,320▲ $102,694
Deferred Revenue$194,579$187,476▼ $7,103
Total Liabilities$22,755,416$31,688,408▲ $8,932,992
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,849,195$4,502,162▲ $2,652,967
Net Assets With Donor Restrictions$923,845$0▼ $923,845
Total Net Assets Fund Balance$2,773,040$4,502,162▲ $1,729,122
Total Liabilities and Net Assets / Fund Balance$25,528,456$36,190,570▲ $10,662,114

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$11,846,429$2,867,803$14,714,232
Land$5,512,676-$5,512,676
Other Land Buildings$3,521,416-$3,521,416
Buildings$631,906$236,965$868,871
Equipment$30,051$120,205$150,256
Other Assets Org$2,192,620--
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Grant CambridgeBoard Chair
David DoylePresident/CEO
Amanda SweeneyMember
Annie WuMember
James BrayMember
Jody FoldesyMember
Juan BustamanteMember
MATT O'CONNORMember
Naya BloomMember
Peter HildebrandtMember
Tom LeveeMember
Vince GonzalesMember
Rhonda HoffarthSecretary & Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Braver & Sauer InvestmentsFacility Lease750 NO BEVERLY GLEN, Los Angeles, CA 90077$475,328
Revenue and Support

Revenue Composition

Contributions and Grants
$2,422,122
Program Service Revenue
$2,655,001
Investment Income
$-9,411
Other Revenue
$8,291
All Other Contributions
$2,302,122
Change in Net Assets
$1,729,122

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,076,003
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,076,003
Total Revenue per Form 990
$5,076,003
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,107,420
Grants and Similar Amounts Paid$239,461
Total Fundraising Expense$8,750
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,637,474--$1,637,474
Occupancy$1,030,469--$1,030,469
Depreciation Depletion$553,360--$553,360
Grants to Domestic Orgs$239,461--$239,461
Other Expenses-$-122,633$8,750$-122,633
Total Functional Expenses$3,460,764$-122,633$8,750$3,346,881

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,346,881
Total Expenses per Audited Statements$3,346,881
Total Expenses per Form 990$3,346,881
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Value SchoolsLos Angeles, CA501 (c) (3)Contribution to School$239,461
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
Grant Funds Reserve$988,615
Bond Interest Payable$924,889
Deferred Rent Liability$654,132
Related Party Payable$12,466

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia School Finance Authority School Facility Revenue Bonds2013-08-08$12,870,000To acquire and construct the land and facilities for value schools
CCalifornia School Finance Authority School Facility Revenue Bonds2020-10-29$9,145,000To renovate facilities for value schools
BCalifornia School Finance Authority School Facility Revenue Bonds2016-12-01$8,090,000To renovate facilities for value schools

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$12,870,000-$790,000$257,400
C$9,145,000--$553,047
B$8,090,000-$60,000$40,450

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
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
No
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no committees with the authority to act upon the governing body.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

Form 990, Part VI, Section B, Line 12

“Monitoring is performed regularly by the officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters.”

Form 990, Part VI, Section C, Line 19

“The governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Value Schools Foundation
EIN
45-5233028
Phone
2133888695
Address
680 WILSHIRE PLACE NO 315, LOS ANGELES, CA 90005

Signing Officer

Name
David Doyle
Title
President/CEO
Phone
2133888695
Signed
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Doyle
Formed
2012
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
11

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Derrick Debruyne CPA
Phone
6268577300
Supplemental Narrative

Additional Explanations

FORM 990. PART XII, LINE 2C:

“No changes in selection or oversight process from prior year.”

Financial Statement Notes

PART X, LINE 2:

“The foundation 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 foundation files an exempt organization return and applicable unrelated business income tax returns in the u.s. Federal jurisdiction and with the california franchise tax board.”

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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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IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0VALUE SCHOOLS FOUNDATION FACILITATES THE DEVELOPMENT OF CHARTER SCHOOLS, TO LEASE, OWN, MANAGE, MAINTAIN AND OPERATE AN EDUCATIONAL INSTITUTION, TO PROVIDE CHARTER SCHOOL FACILITIES AND OPERATIONAL AND OTHER SUPPORT TO CHARTER SCHOOLS, TO ASSIST PHILANTHROPISTS AND FOUNDATIONS IN ACCELERATING THE GROWTH OF HIGH QUALITY CHARTER SCHOOLS, AND TO PROVIDE AND OTHERWISE OBTAIN OR ASSIST IN OBTAINING CHARTER SCHOOL FINANCING.
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IRS990/PYOtherRevenueAmt00
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IRS990/PYRevenuesLessExpensesAmt0178099
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03532687
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01729122
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02655001
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03070542
IRS990/SavingsAndTempCashInvstGrp/EOYAmt011644338
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02422122
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01396901
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0705879
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0197950
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0438810
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt05161662
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0-9411
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt067364
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt039131
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt012648
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0142916
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt010381121
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IRS990ScheduleA/OtherIncome170Grp/TotalAmt08291
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/SubstantialContributorsTotAmt02234873
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0631906
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0236965
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0868871
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02867803
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2654132
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3988615
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BOND INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RELATED PARTY PAYABLE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3GRANT FUNDS RESERVE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION 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 FOUNDATION FILES AN EXEMPT ORGANIZATION RETURN AND APPLICABLE UNRELATED BUSINESS INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND WITH THE CALIFORNIA FRANCHISE TAX BOARD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501 (C) (3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0CONTRIBUTION TO SCHOOL
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,190,570
Liabilities
$31,688,408
Net assets
$4,502,162
Revenue
$5,076,003
Expenses
$3,346,881
Net income
$1,729,122
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.6$50.4$4.25$4.01$4.45$0.44
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$55.7$51.0$4.69$4.68$4.43$0.25
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.1$32.6$4.45$4.23$4.29$0.06
2021Detailed filing. Detailed filing data is available for this year.$36.2$31.7$4.50$5.08$3.35$1.73
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.5$22.8$2.77$3.53$3.35$0.18
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.2$22.6$2.59$2.81$2.89$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.0$22.4$2.68$2.33$2.41$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.8$23.0$2.76$1.95$1.84$0.11
2016Detailed filing. Detailed filing data is available for this year.$17.1$14.4$2.62$1.25$1.71$0.47
2015Detailed filing. Detailed filing data is available for this year.$17.6$14.5$3.09$1.22$1.21$0.00
2014Detailed filing. Detailed filing data is available for this year.$18.1$15.1$3.08$4.06$1.02$3.04