Civic Intelligence

Lake Pointe Academy Inc.

990 • Fiscal year 2019 • EIN 45-5628514

Aug 01, 2018 to Jul 31, 2019 • Filed on Nov 20, 2019

Organization ProfileWWW.LAKEPOINTEGRANBURY.ORG
1921 Acton HwyGranbury, TX 76049

(817) 937-4332

Siviq Scores

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

Liabilities / Assets

99th percentile

6.81x

Higher debt load relative to assets than 99% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

0.51x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

27th percentile

-7.3%

Higher net margin than 27% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

9th percentile

-49%

Faster asset growth than 9% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

71st percentile

19%

Faster revenue growth than 71% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets99th percentile

Assets

Flat

$24,642

Flat from 2019

Net Assets

Flat

-$143,264

Flat from 2019

Liabilities

Flat

$167,906

Flat from 2019

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin27th percentile

Revenue

Flat

$329,589

Flat from 2019

Expenses

Flat

$353,666

Flat from 2019

Net Income

Flat

-$24,077

Flat from 2019

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$300K$200K$100K$0-$100K-$200KAssets 2013: $5,010Liabilities 2013: $2,4692013Assets 2014: $1,612Liabilities 2014: $19,078Net Assets 2014: -$17,4662014Assets 2015: $30,960Liabilities 2015: $75,806Net Assets 2015: -$44,8462015Assets 2016: $38,008Liabilities 2016: $98,137Net Assets 2016: -$60,1292016Assets 2017: $58,406Liabilities 2017: $137,031Net Assets 2017: -$78,6252017Assets 2018: $48,356Liabilities 2018: $206,673Net Assets 2018: -$158,3172018Assets 2019: $24,642Liabilities 2019: $167,906Net Assets 2019: -$143,2642019Assets 2019: $24,642Liabilities 2019: $167,906Net Assets 2019: -$143,2642019Assets 2022: $1,760Liabilities 2022: $72,3072022Assets 2023: $3,305Liabilities 2023: $39,0942023Assets 2024: $5,915Liabilities 2024: $63,671Net Assets 2024: -$57,7562024

Highlighted filing

2019

Assets$24,642
Liabilities$167,906
Net Assets-$143,264
Open 2019 Filing

Operations Trend

Revenue Growth71st percentile

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

$400K$200K$0-$200KRevenue 2013: $79,522Expenses 2013: $76,981Net Income 2013: $2,5412013Revenue 2014: $177,427Expenses 2014: $197,433Net Income 2014: -$20,0062014Revenue 2015: $306,536Expenses 2015: $333,916Net Income 2015: -$27,3802015Revenue 2016: $172,696Expenses 2016: $187,979Net Income 2016: -$15,2832016Revenue 2017: $372,954Expenses 2017: $377,950Net Income 2017: -$4,9962017Revenue 2018: $277,426Expenses 2018: $357,118Net Income 2018: -$79,6922018Revenue 2019: $329,589Expenses 2019: $353,666Net Income 2019: -$24,0772019Revenue 2019: $329,589Expenses 2019: $353,666Net Income 2019: -$24,0772019Revenue 2022: $53,310Expenses 2022: $2,981Net Income 2022: $50,3292022Revenue 2023: $175,148Expenses 2023: $140,390Net Income 2023: $34,7582023Revenue 2024: $104,672Expenses 2024: $126,639Net Income 2024: -$21,9672024

Highlighted filing

2019

Revenue$329,589
Expenses$353,666
Net Income-$24,077
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
Nov 20, 2019
Return Version
2018v3.1
Gross Receipts
$329,589
Mission and Program Overview

Mission

The corporation is established as a school, organized for the purpose of providing primary and/or secondary academics, with an emphasis in teaching social, emotional, and behavioral skills for success in educational settings and adulthood.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$61,824$70,524▲ $8,700
Land, Buildings, and Equipment, Net$22,417$21,250▼ $1,167
Prepaid Expenses and Deferred Charges$13,318--
Cash and Non-Interest-Bearing Accounts$12,621$3,392▼ $9,229
Total Assets$48,356$24,642▼ $23,714
Liabilities
Other Liabilities$52,616$73,482▲ $20,866
Accounts Payable and Accrued Expenses$92,233$23,900▼ $68,333
Total Liabilities$206,673$167,906▼ $38,767
Net Assets / Fund Balance
Unrestricted Net Assets$-158,317$-143,264▲ $15,053
Total Net Assets Fund Balance$-158,317$-143,264▲ $15,053
Total Liabilities and Net Assets / Fund Balance$48,356$24,642▼ $23,714

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$21,250$8,705$29,955
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Madalyn CanoPresident
Steve CanoEx-officio M
Jane Phillips Phd LcswMember
Stephanie SellersMember
Koree MasseyTreasurer
Jennifer Krone Ms PhdVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$42,475
Program Service Revenue
$273,544
Investment Income
$0
Other Revenue
$13,570
All Other Contributions
$42,475
Change in Net Assets
$-24,077
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$295,379
Other Expenses$58,287
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$267,818--$267,818
Payroll Taxes$27,561--$27,561
All Other Expenses$409$14,733-$15,142
Occupancy-$7,542-$7,542
Interest$4,537--$4,537
Other Expenses$6,340$3,726-$3,726
Office Expenses$3,131--$3,131
Insurance$3,081--$3,081
Depreciation Depletion$2,540--$2,540
Fees for Services Accounting$2,102--$2,102
Fees for Services Legal$500--$500
Total Functional Expenses$318,019$35,647$0$353,666
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
Loans from Officers, Directors, Trustees, and Key Employees$61,824$70,524▲ $8,700
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Short-term Notes - Credit Line$70,000
Payroll Liability$3,482
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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 11B

“Approved by governing board.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Lake Pointe Academy Inc
EIN
45-5628514
Address
1921 ACTON HWY, GRANBURY, TX 76049

Signing Officer

Name
Madalyn Cano
Title
President
Signed
2019-11-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Madalyn Cano
Formed
2012
Voting Board Members
5
Independent Board Members
5
Employees
13

Preparer

Firm
Willsher & Associates Pllc
Address
2305 EAST HIGHWAY 377, GRANBURY, TX 76049
Preparer
Molly Willsher CPA
Phone
8175735597
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The corporation is established as a school, organized for the purpose of providing primary and/or secondary academics, with an emphasis in teaching social, emotional, and behavioral skills for success in educational settings and adulthood.”

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

“Lake pointe academy provides a therapeutic educational program to students with autism spectrum disorders and other developmental conditions which affect or impede the student's ability to function or achieve success in a traditional academic environment.”

Form 990, Part XI, Line 9

“PRIOR PERIOD ADJ 39,130”

Raw XML Appendix355 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LAKE POINTE ACADEMY PROVIDES A THERAPEUTIC EDUCATIONAL PROGRAM TO STUDENTS WITH AUTISM SPECTRUM DISORDERS AND OTHER DEVELOPMENTAL CONDITIONS WHICH AFFECT OR IMPEDE THE STUDENT'S ABILITY TO FUNCTION OR ACHIEVE SUCCESS IN A TRADITIONAL ACADEMIC ENVIRONMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2APPROVED BY GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PRIOR PERIOD ADJ 39,130
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02020-11-06 18:47:13Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0MADALYN CANO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE POINTE ACADEMY INC
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ReturnHeader/FilingSecurityInformation/IPDt02020-03-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm018:32:20
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0263108401
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WILLSHER & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02305 EAST HIGHWAY 377
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRANBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076049
ReturnHeader/PreparerPersonGrp/PhoneNum08175735597
ReturnHeader/PreparerPersonGrp/PreparationDt02020-01-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MOLLY WILLSHER CPA
ReturnHeader/ReturnTs02020-03-16T18:32:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-08-01
ReturnHeader/TaxPeriodEndDt02019-07-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$24,642
Liabilities
$167,906
Net assets
-$143,264
Revenue
$329,589
Expenses
$353,666
Net income
-$24,077
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.06$0.64$0.58$1.05$1.27$0.22
2023Summary only. Only limited summary data is available for this year.$0.03$0.39$1.75$1.40$0.35
2022Summary only. Only limited summary data is available for this year.$0.02$0.72$0.53$0.03$0.50
2019Detailed filing. Detailed filing data is available for this year.$0.25$1.68$1.43$3.30$3.54$0.24
2019Summary only. Only limited summary data is available for this year.$0.25$1.68$1.43$3.30$3.54$0.24
2018Summary only. Only limited summary data is available for this year.$0.48$2.07$1.58$2.77$3.57$0.80
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$1.37$0.79$3.73$3.78$0.05
2016Summary only. Only limited summary data is available for this year.$0.38$0.98$0.60$1.73$1.88$0.15
2015Detailed filing. Detailed filing data is available for this year.$0.31$0.76$0.45$3.07$3.34$0.27
2014Detailed filing. Detailed filing data is available for this year.$0.02$0.19$0.17$1.77$1.97$0.20
2013Summary only. Only limited summary data is available for this year.$0.05$0.02$0.80$0.77$0.03