Civic Intelligence

Lcfef Summer School

990 • Fiscal year 2023 • EIN 45-5474501

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

Organization ProfileWWW.LCFEF.ORG
4490 Cornishon Avenue 211LA Canada, CA 91011

(818) 952-4268

Siviq Scores

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

Liabilities / Assets

89th percentile

0.46x

Higher debt load relative to assets than 89% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

0.48x

Higher debt load relative to revenue than 92% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

65th percentile

12%

Higher net margin than 65% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

12th percentile

-45%

Faster asset growth than 12% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

43rd percentile

-1.1%

Faster revenue growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$347,822

Down $285,007 (-45%) from 2022

Net Assets

Up

$188,322

Up $40,724 (+28%) from 2022

Liabilities

Down

$159,500

Down $325,731 (-67%) from 2022

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin65th percentile

Revenue

Down

$332,942

Down $3,688 (-1.1%) from 2022

Expenses

Down

$292,218

Down $16,167 (-5.2%) from 2022

Net Income

Up

$40,724

Up $12,479 (+44%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$800K$600K$400K$200K$0Assets 2013: $227,170Liabilities 2013: $178,358Net Assets 2013: $48,8122013Assets 2014: $198,130Liabilities 2014: $159,466Net Assets 2014: $38,6642014Assets 2015: $217,892Liabilities 2015: $200,398Net Assets 2015: $17,4942015Assets 2016: $292,240Liabilities 2016: $174,906Net Assets 2016: $117,3342016Assets 2017: $260,131Liabilities 2017: $127,068Net Assets 2017: $133,0632017Assets 2018: $410,743Liabilities 2018: $253,498Net Assets 2018: $157,2452018Assets 2019: $461,965Liabilities 2019: $342,387Net Assets 2019: $119,5782019Assets 2020: $502,993Liabilities 2020: $388,581Net Assets 2020: $114,4122020Assets 2021: $581,863Liabilities 2021: $462,510Net Assets 2021: $119,3532021Assets 2022: $632,829Liabilities 2022: $485,231Net Assets 2022: $147,5982022Assets 2023: $347,822Liabilities 2023: $159,500Net Assets 2023: $188,3222023Assets 2024: $357,853Liabilities 2024: $111,594Net Assets 2024: $246,2592024

Highlighted filing

2023

Assets$347,822
Liabilities$159,500
Net Assets$188,322
Open 2023 Filing

Operations Trend

Revenue Growth43rd percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2013: $262,108Expenses 2013: $234,630Net Income 2013: $27,4782013Revenue 2014: $218,117Expenses 2014: $227,510Net Income 2014: -$9,3932014Revenue 2015: $241,460Expenses 2015: $262,630Net Income 2015: -$21,1702015Revenue 2016: $324,427Expenses 2016: $224,587Net Income 2016: $99,8402016Revenue 2017: $271,857Expenses 2017: $256,128Net Income 2017: $15,7292017Revenue 2018: $270,218Expenses 2018: $246,036Net Income 2018: $24,1822018Revenue 2019: $217,808Expenses 2019: $255,475Net Income 2019: -$37,6672019Revenue 2020: $269,935Expenses 2020: $275,101Net Income 2020: -$5,1662020Revenue 2021: $296,683Expenses 2021: $291,742Net Income 2021: $4,9412021Revenue 2022: $336,630Expenses 2022: $308,385Net Income 2022: $28,2452022Revenue 2023: $332,942Expenses 2023: $292,218Net Income 2023: $40,7242023Revenue 2024: $319,242Expenses 2024: $261,305Net Income 2024: $57,9372024

Highlighted filing

2023

Revenue$332,942
Expenses$292,218
Net Income$40,724
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$332,942
Mission and Program Overview

Mission

The primary purpose of the lcfef summer school is to provide a high quality, rigorous 9-12 selection of course offerings to allow students to both improve their academic standing (remedial students) as well as allowing other students to accelerate and enhance their academic program. A secondary purpose of the lcfef summer school is to contribute any net income from the summer school program to the la canada unified school district to help further the educational programs for all la canada students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$632,829$339,876▼ $292,953
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$632,829$347,822▼ $285,007
Other Assets Total-$7,946-
Liabilities
Other Liabilities$311,694--
Deferred Revenue$173,537$159,500▼ $14,037
Total Liabilities$485,231$159,500▼ $325,731
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$147,598$188,322▲ $40,724
Total Net Assets Fund Balance$147,598$188,322▲ $40,724
Total Liabilities and Net Assets / Fund Balance$632,829$347,822▼ $285,007
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Jinny DalbeckPresident
Barry ReedVice President
Christie ClarksonDirector
Joann MerrickDirector
Sheila DunbarDirector
Todd AndrewsSecretary
Welby LaiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$332,942
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$40,724

Audited Revenue Reconciliation

Revenue per Audited Statements
$332,942
Total Revenue per Audited Statements
$332,942
Total Revenue per Form 990
$332,942
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$238,891
Other Expenses$53,327
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$219,571--$219,571
Insurance$20,705--$20,705
Payroll Taxes$19,320--$19,320
All Other Expenses$6,499--$6,499
Other Expenses$2,761--$2,761
Fees for Services Other$2,315--$2,315
Advertising$760--$760
Fees for Services Accounting$100--$100
Total Functional Expenses$292,218$0$0$292,218

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$292,218
Total Expenses per Audited Statements$292,218
Total Expenses per Form 990$292,218
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The tax return is reviewed by the treasurer, a member of the board of directors, before filing with the internal revenue service.”

Form 990, Part VI, Section B, Line 15A

“Certain members of the board of directors reviewed similar organizations and industry standards to determine a fair compensation.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Lcfef Summer School
EIN
45-5474501
Phone
8189524268
Address
4490 CORNISHON AVENUE 211, LA CANADA, CA 91011

Signing Officer

Name
Welby Lai
Title
Treasurer
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
2012
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
28

Preparer

Firm
Hutchinson and Bloodgood Llp
Address
550 N BRAND BLVD 14th Floor, GLENDALE, CA 91203
Preparer
Mica Miyamoto
Phone
8186375000
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Management has analyzed tax positions taken by the foundation and concluded that, as of june 30, 2023, there are no uncertain tax positions taken, or expected to be taken, that would require recognition of a liability or that would require disclosure in the consolidated financial statements.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS ANALYZED TAX POSITIONS TAKEN BY THE FOUNDATION AND CONCLUDED THAT, AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR THAT WOULD REQUIRE DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ADVERTISING IN LOCAL NEWSPAPER INCLUDED NONDISCRIMINATION POLICY.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TAX RETURN IS REVIEWED BY THE TREASURER, A MEMBER OF THE BOARD OF DIRECTORS, BEFORE FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CERTAIN MEMBERS OF THE BOARD OF DIRECTORS REVIEWED SIMILAR ORGANIZATIONS AND INDUSTRY STANDARDS TO DETERMINE A FAIR COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0FUNDRAISING & SUPPORT OF SCHOOL DISTRICT
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0347822
IRS990/TravelGrp/TotalAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04490 CORNISHON AVENUE 211
IRS990/USAddress/CityNm0LA CANADA
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IRS990/VotingMembersGoverningBodyCnt07
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IRS990/WebsiteAddressTxt0WWW.LCFEF.ORG
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$347,822
Liabilities
$159,500
Net assets
$188,322
Revenue
$332,942
Expenses
$292,218
Net income
$40,724
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.58$1.12$2.46$3.19$2.61$0.58
2023Detailed filing. Detailed filing data is available for this year.$3.48$1.60$1.88$3.33$2.92$0.41
2022Detailed filing. Detailed filing data is available for this year.$6.33$4.85$1.48$3.37$3.08$0.28
2021Detailed filing. Detailed filing data is available for this year.$5.82$4.63$1.19$2.97$2.92$0.05
2020Detailed filing. Detailed filing data is available for this year.$5.03$3.89$1.14$2.70$2.75$0.05
2019Detailed filing. Detailed filing data is available for this year.$4.62$3.42$1.20$2.18$2.55$0.38
2018Detailed filing. Detailed filing data is available for this year.$4.11$2.53$1.57$2.70$2.46$0.24
2017Detailed filing. Detailed filing data is available for this year.$2.60$1.27$1.33$2.72$2.56$0.16
2016Detailed filing. Detailed filing data is available for this year.$2.92$1.75$1.17$3.24$2.25$1.00
2015Detailed filing. Detailed filing data is available for this year.$2.18$2.00$0.17$2.41$2.63$0.21
2014Detailed filing. Detailed filing data is available for this year.$1.98$1.59$0.39$2.18$2.28$0.09
2013Summary only. Only limited summary data is available for this year.$2.27$1.78$0.49$2.62$2.35$0.27