Civic Intelligence

Founders Educationa Legacy Inc

990 • Fiscal year 2016 • EIN 46-0693350

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 11, 2017

Organization ProfileN/A
5898 Jasper Ridge StLas Vegas, NV 89130

(702) 228-1175

Siviq Scores

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

Liabilities / Assets

94th percentile

0.95x

Higher debt load relative to assets than 94% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

93rd percentile

0.58x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

49th percentile

2.7%

Higher net margin than 49% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

98th percentile

479%

Faster asset growth than 98% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

41st percentile

-4.7%

Faster revenue growth than 41% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$157,668

Up $130,427 (+479%) from 2015

Net Assets

Up

$7,466

Up $6,966 (+1393%) from 2015

Liabilities

Up

$150,202

Up $123,461 (+462%) from 2015

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin49th percentile

Revenue

Down

$259,630

Down $12,794 (-4.7%) from 2015

Expenses

Down

$252,664

Down $19,260 (-7.1%) from 2015

Net Income

Up

$6,966

Up $6,466 (+1293%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$200K$150K$100K$50K$0-$50KAssets 2014: $42,457Liabilities 2014: $42,457Net Assets 2014: $02014Assets 2015: $27,241Liabilities 2015: $26,741Net Assets 2015: $5002015Assets 2016: $157,668Liabilities 2016: $150,202Net Assets 2016: $7,4662016Assets 2017: $128,474Liabilities 2017: $150,202Net Assets 2017: -$21,7282017Assets 2018: $10,758Liabilities 2018: $0Net Assets 2018: $10,7582018Assets 2019: $5,419Liabilities 2019: $22,194Net Assets 2019: -$16,7752019Assets 2020: $14,054Liabilities 2020: $28,954Net Assets 2020: -$14,9002020Assets 2021: $13,906Liabilities 2021: $17,450Net Assets 2021: -$3,5442021Assets 2022: $55,126Liabilities 2022: $43,255Net Assets 2022: $11,8712022Assets 2023: $68,914Liabilities 2023: $51,412Net Assets 2023: $17,5022023Assets 2024: $109,526Liabilities 2024: $69,845Net Assets 2024: $39,6812024

Highlighted filing

2016

Assets$157,668
Liabilities$150,202
Net Assets$7,466
Open 2016 Filing

Operations Trend

Revenue Growth41st percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $272,424Expenses 2015: $271,924Net Income 2015: $5002015Revenue 2016: $259,630Expenses 2016: $252,664Net Income 2016: $6,9662016Revenue 2017: $433,942Expenses 2017: $463,136Net Income 2017: -$29,1942017Revenue 2018: $383,323Expenses 2018: $350,837Net Income 2018: $32,4862018Revenue 2019: $198,995Expenses 2019: $226,528Net Income 2019: -$27,5332019Revenue 2020: $254,045Expenses 2020: $252,170Net Income 2020: $1,8752020Revenue 2021: $220,042Expenses 2021: $208,686Net Income 2021: $11,3562021Revenue 2022: $396,401Expenses 2022: $380,986Net Income 2022: $15,4152022Revenue 2023: $397,449Expenses 2023: $391,818Net Income 2023: $5,6312023Revenue 2024: $711,795Expenses 2024: $689,616Net Income 2024: $22,1792024

Highlighted filing

2016

Revenue$259,630
Expenses$252,664
Net Income$6,966
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 11, 2017
Return Version
2015v3.0
Gross Receipts
$259,630
Mission and Program Overview

Mission

To provide financial support to founders academy las vegas

To provide financial support to founders academy las vegas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$26,539$125,000▲ $98,461
Cash and Non-Interest-Bearing Accounts$702$16,668▲ $15,966
Land, Buildings, and Equipment, Net-$16,000-
Total Assets$27,241$157,668▲ $130,427
Liabilities
Unsecured Notes Loans Payable-$150,000-
Accounts Payable and Accrued Expenses$26,741$202▼ $26,539
Total Liabilities$26,741$150,202▲ $123,461
Net Assets / Fund Balance
Unrestricted Net Assets$500$7,466▲ $6,966
Total Net Assets Fund Balance$500$7,466▲ $6,966
Total Liabilities and Net Assets / Fund Balance$27,241$157,668▲ $130,427

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$16,000-$16,000
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Richard MorenoPresident
George MehocicSecretary/tr
Mark HesiakVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$49,241
Program Service Revenue
$210,389
Investment Income
$0
Other Revenue
$0
All Other Contributions
$49,241
Change in Net Assets
$6,966

Audited Revenue Reconciliation

Revenue per Audited Statements
$259,630
Total Revenue per Audited Statements
$259,630
Total Revenue per Form 990
$259,630
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$249,623
Other Expenses$3,041
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$230,320--$230,320
Payroll Taxes$15,144--$15,144
Other Employee Benefits$4,159--$4,159
Fees for Services Other-$3,041-$3,041
Total Functional Expenses$249,623$3,041$0$252,664

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$252,664
Total Expenses per Audited Statements$252,664
Total Expenses per Form 990$252,664
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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

“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 19

“The documents are readily available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Founders Education Legacy Inc
EIN
46-0693350
Phone
7022281175
Address
5898 JASPER RIDGE ST, LAS VEGAS, NV 89130

Signing Officer

Name
Richard Moreno
Title
President
Phone
7022281175
Signed
2017-02-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Moreno
Formed
2012
Legal Domicile
Nv
Voting Board Members
3
Independent Board Members
3
Employees
7
Volunteers
3

Preparer

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

Financial Statement Notes

Schedule D, Page 3, Part X

“"legacy is a non-profit entity exempt from the payment of income taxes under internalrevenue code section 501(c)(3). Accordingly, no provision has been made for income taxes.management has determined that all income tax positions are more likely than not of being sustainedupon potential audit or examination; therefore, no disclosures of uncertain income tax positions arerequired. Legacy files informational returns in the u.s. Federal jurisdiction and the statute of limitationsfor federal purposes is generally three years."”

Schedule D, Page 4, Part XIII

“Legacy is a non-profit entity exempt from the payment of income taxes under internal revenue code section 501(c)(3). 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. Legacy files informational returns in the u.s federal jurisdiction and the statute of limitations for federal purposes is generally three years.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0"LEGACY IS A NON-PROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNALREVENUE CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES.MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINEDUPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS AREREQUIRED. LEGACY FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION AND THE STATUTE OF LIMITATIONSFOR FEDERAL PURPOSES IS GENERALLY THREE YEARS."
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0917404676
ReturnHeader/PreparerPersonGrp/PhoneNum06268577300
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DERRICK DEBRUYNE CPA
ReturnHeader/ReturnTs02017-03-02T16:32:23-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$157,668
Liabilities
$150,202
Net assets
$7,466
Revenue
$259,630
Expenses
$252,664
Net income
$6,966
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.70$0.40$7.12$6.90$0.22
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.51$0.18$3.97$3.92$0.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.43$0.12$3.96$3.81$0.15
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.14$0.17$0.04$2.20$2.09$0.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.14$0.29$0.15$2.54$2.52$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.05$0.22$0.17$1.99$2.27$0.28
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.11$0.00$0.11$3.83$3.51$0.32
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.28$1.50$0.22$4.34$4.63$0.29
2016Detailed filing. Detailed filing data is available for this year.$1.58$1.50$0.07$2.60$2.53$0.07
2015Summary only. Only limited summary data is available for this year.$0.27$0.27$0.01$2.72$2.72$0.01
2014Summary only. Only limited summary data is available for this year.$0.42$0.42$0.00$0.00$0.00$0.00