Civic Intelligence

Learning Schools of Texas

990 • Fiscal year 2018 • EIN 46-1667725

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 13, 2018

PO Box 1390Helotes, TX 78023

(210) 774-9284

Siviq Scores

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

Liabilities / Assets

67th percentile

0.23x

Higher debt load relative to assets than 67% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

33rd percentile

0.04x

Higher debt load relative to revenue than 33% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

11th percentile

-26%

Higher net margin than 11% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

69th percentile

$100,875

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

1st percentile

-79%

Faster asset growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

13th percentile

-23%

Faster revenue growth than 13% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$390,014

Down $1,450,654 (-79%) from 2017

Net Assets

Down

$298,384

Down $663,058 (-69%) from 2017

Liabilities

Down

$91,630

Down $787,596 (-90%) from 2017

Revenue

Down

$2,510,258

Down $733,023 (-23%) from 2017

Expenses

Up

$3,173,316

Up $349,786 (+12%) from 2017

Net Income

Down

-$663,058

Down $1,082,809 (-258%) from 2017

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2014: $337,000Liabilities 2014: $9,786Net Assets 2014: $327,2142014Assets 2015: $778,427Liabilities 2015: $73,486Net Assets 2015: $704,9412015Assets 2016: $1,416,097Liabilities 2016: $874,406Net Assets 2016: $541,6912016Assets 2017: $1,840,668Liabilities 2017: $879,226Net Assets 2017: $961,4422017Assets 2018: $390,014Liabilities 2018: $91,630Net Assets 2018: $298,3842018Assets 2019: $178,123Liabilities 2019: $1,886Net Assets 2019: $176,2372019Assets 2020: $0Net Assets 2020: $02020

Highlighted filing

2018

Assets$390,014
Liabilities$91,630
Net Assets$298,384

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $634,000Expenses 2014: $306,786Net Income 2014: $327,2142014Revenue 2015: $915,415Expenses 2015: $464,927Net Income 2015: $450,4882015Revenue 2016: $2,880,269Expenses 2016: $3,043,519Net Income 2016: -$163,2502016Revenue 2017: $3,243,281Expenses 2017: $2,823,530Net Income 2017: $419,7512017Revenue 2018: $2,510,258Expenses 2018: $3,173,316Net Income 2018: -$663,0582018Revenue 2019: $17,560Expenses 2019: $139,707Net Income 2019: -$122,1472019Expenses 2020: $176,2372020

Highlighted filing

2018

Revenue$2,510,258
Expenses$3,173,316
Net Income-$663,058
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 13, 2018
Return Version
2017v2.3
Gross Receipts
$2,993,384
Mission and Program Overview

Mission

Learning schools of texas is a tuition-free public charter school that is successfully educating 6-12th grade students in a safe, student-focused environment.

Tuition-free public charter school operation

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$615,132--
Pledges and Grants Receivable$395,001$221,392▼ $173,609
Cash and Non-Interest-Bearing Accounts$558,230$161,619▼ $396,611
Prepaid Expenses and Deferred Charges$54,379$5,000▼ $49,379
Accounts Receivable-$2,003-
Total Assets$1,840,668$390,014▼ $1,450,654
Other Assets Total$217,926--
Liabilities
Mortgage Notes Payable Secured by Investment Property$800,000--
Accounts Payable and Accrued Expenses$79,226$80,547▲ $1,321
Other Liabilities-$11,083-
Total Liabilities$879,226$91,630▼ $787,596
Net Assets / Fund Balance
Unrestricted Net Assets$961,442$298,384▼ $663,058
Total Net Assets Fund Balance$961,442$298,384▼ $663,058
Total Liabilities and Net Assets / Fund Balance$1,840,668$390,014▼ $1,450,654
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nick FleegeCOOFT$93,383$7,492$100,875
Rick OgstonSuperintendeFT$50,000-$50,000

Board Members and Trustees

NameTitle
Brandon SealeBoard Chairm
Don SoiferTrustee
Felix OdigieTrustee
Katy DavidTrustee
Martin RicoTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$2,851,178
Program Service Revenue
$29,471
Investment Income
$-383,126
Other Revenue
$12,735
All Other Contributions
$718,271
Change in Net Assets
$-663,058

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,510,258
Total Revenue per Audited Statements
$2,510,258
Total Revenue per Form 990
$2,510,258
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,861,474
Salaries, Compensation, and Employee Benefits$1,311,842
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$628,110$340,064-$968,174
Occupancy$906,928$23,525-$930,453
Fees for Services Other$314,081$21,769-$335,850
Depreciation Depletion$196,591--$196,591
Current Officers, Directors, Trustees, and Key Employees$125,906$31,477-$157,383
Other Employee Benefits$118,501$8,123-$126,624
Office Expenses-$76,695-$76,695
Pension Plan Contributions$33,951$5,674-$39,625
Interest$34,889--$34,889
Insurance-$30,904-$30,904
Payroll Taxes$11,386$8,650-$20,036
Travel$13,099$2,229-$15,328
Fees for Services Legal-$14,800-$14,800
Fees for Services Accounting-$12,400-$12,400
Other Expenses$7,442$14,814-$7,442
Total Functional Expenses$2,582,192$591,124$0$3,173,316

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,173,316
Total Expenses per Audited Statements$3,173,316
Total Expenses per Form 990$3,173,316
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
Payroll Deductions$11,083
Governance and Compliance

Governance Checklist

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

The board is provided a copy of the 990 for review and approval.

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

Each director, principal officer and member of a committee with board delegated powers shall annually review and sign a conflict of interest statement. Upon any disclosure of a conflict - the interested person is excused from the meeting. The remaining board or committee members then decide if a conflict of interest exists by a two-thirds vote - they will then proceed accordingly and evaluate all of the alternatives.

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

Compensation recommendations for the ceo and top officials are based on experience and current market factors and are reviewed by a neutral third party management company.

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

Compensation recommendations for the officers and key employees are based on experience and current market factors and are reviewed by a neutral third party management company.

Form 990, Page 6, Part VI, Line 19

Governing documents are available on the tea's (texas education agency) website, as well as available by request to the school, whether the request be verbal or written.

Filing and Contact Details

Filer

Filer Name
Learning Schools of Texas
EIN
46-1667725
Phone
2107749284
Address
PO BOX 1390, HELOTES, TX 78023
Doing Business As
Carpe Diem Schools

Signing Officer

Name
Brandon Seale
Title
Board Chairman
Phone
2107749284
Signed
2018-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brandon Seale
Formed
2013
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
31
Volunteers
5

Preparer

Firm
Armstrong Vaughan & Associates Pc
Address
941 WEST BYRD BLVD STE 101, UNIVERSAL CITY, TX 78148
Preparer
Phil Vaughan
Phone
2106586229
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 3

The school was closed in june 2018. The corporation intends to shut down at the end of 2018.

Form 990, Part IX, Line 11G

Other professional fees 192,736 21,769 0 consulting 63,048 0 0 miscellaneous contracted serv 36,224 0 0 educational services 22,073 0 0 total 314,081 21,769 0

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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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0915415
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0634000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt010430937
IRS990ScheduleA/TotalSupportAmt010517709
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IRS990ScheduleD/ExpensesSubtotalAmt03173316
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt011083
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL DEDUCTIONS
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IRS990ScheduleD/TotalExpensesPerForm990Amt03173316
IRS990ScheduleD/TotalLiabilityAmt011083
IRS990ScheduleD/TotalRevenuePerForm990Amt02510258
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03173316
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PLACES AN ADVERTISEMENT REGARDING ITS POLICY OF NON-DISCRIMINATION WITH REGARDS TO ITS ADMISSION POLICY AND ITS HIRING OF STAFF IN A NEWSPAPER IN GENERAL CIRCULATION IN ITS SERVICE AREA AT LEAST ONCE A YEAR. THE POLICY IS ALSO DISCLOSED IN THE SCHOOL'S BROCHURE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVES FUNDS FROM THE TEXAS EDUCATION AGENCY UNDER THE FOUNDATION SCHOOL PROGRAM WHICH PROVIDES FUNDING IN SUPPORT OF THE ONGOING OPERATING COSTS OF PUBLIC SCHOOLS AND AID FOR THE REPAYMENT OF LONG-TERM DEBT ISSUED TO BUILD SCHOOL FACILITIES. FEDERAL GRANTS ARE ALSO RECEIVED FOR SCHOOL MEALS PROGRAMS, FUNDING FOR IMPROVING THE ACADEMIC ACHIEVMENT OF DISADVANTAGED STUDENTS AND STUDENTS WITH DISABILITIES AND A START-UP GRANT THAT PROVIDES FINANCIAL ASSISTANCE FOR THE PLANNING, PROGRAM DESIGN, AND INITIAL IMPLEMENTATION OF CHARTER SCHOOLS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleN/DirectorOfSuccessor2Ind0false
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0FURNITURE AND EQUIPMEN
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0BHCSDCPC MILITARY ROAD LLC
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02018-06-30
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IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0COST
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt06731 COLUMBIA GATEWAY DR
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0COLUMBIA
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL WAS CLOSED IN JUNE 2018. THE CORPORATION INTENDS TO SHUT DOWN AT THE END OF 2018.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD IS PROVIDED A COPY OF THE 990 FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY REVIEW AND SIGN A CONFLICT OF INTEREST STATEMENT. UPON ANY DISCLOSURE OF A CONFLICT - THE INTERESTED PERSON IS EXCUSED FROM THE MEETING. THE REMAINING BOARD OR COMMITTEE MEMBERS THEN DECIDE IF A CONFLICT OF INTEREST EXISTS BY A TWO-THIRDS VOTE - THEY WILL THEN PROCEED ACCORDINGLY AND EVALUATE ALL OF THE ALTERNATIVES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION RECOMMENDATIONS FOR THE CEO AND TOP OFFICIALS ARE BASED ON EXPERIENCE AND CURRENT MARKET FACTORS AND ARE REVIEWED BY A NEUTRAL THIRD PARTY MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION RECOMMENDATIONS FOR THE OFFICERS AND KEY EMPLOYEES ARE BASED ON EXPERIENCE AND CURRENT MARKET FACTORS AND ARE REVIEWED BY A NEUTRAL THIRD PARTY MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE AVAILABLE ON THE TEA'S (TEXAS EDUCATION AGENCY) WEBSITE, AS WELL AS AVAILABLE BY REQUEST TO THE SCHOOL, WHETHER THE REQUEST BE VERBAL OR WRITTEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OTHER PROFESSIONAL FEES 192,736 21,769 0 CONSULTING 63,048 0 0 MISCELLANEOUS CONTRACTED SERV 36,224 0 0 EDUCATIONAL SERVICES 22,073 0 0 TOTAL 314,081 21,769 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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IRS990/TotalLiabilitiesEOYAmt091630
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IRS990/TotalOtherCompensationAmt07492
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IRS990/TotalProgramServiceRevenueAmt029471
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0390014
IRS990/TravelGrp/ManagementAndGeneralAmt02229
IRS990/TravelGrp/ProgramServicesAmt013099
IRS990/TravelGrp/TotalAmt015328
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt0961442
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1390
IRS990/USAddress/CityNm0HELOTES
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02107749284
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEARNING SCHOOLS OF TEXAS
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