Civic Intelligence

Learning Schools of Texas

990 • Fiscal year 2017 • EIN 46-1667725

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 26, 2018

Organization ProfileWWW.CARPEDIEMWESTWOOD.COM
8038 W Military RdSan Antonio, TX 78227

(210) 774-9284

Siviq Scores

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

Liabilities / Assets

79th percentile

0.48x

Higher debt load relative to assets than 79% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

69th percentile

0.27x

Higher debt load relative to revenue than 69% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

70th percentile

13%

Higher net margin than 70% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

77th percentile

$120,270

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

86th percentile

30%

Faster asset growth than 86% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

65th percentile

13%

Faster revenue growth than 65% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$1,840,668

Up $424,571 (+30%) from 2016

Net Assets

Up

$961,442

Up $419,751 (+77%) from 2016

Liabilities

Up

$879,226

Up $4,820 (+0.6%) from 2016

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin70th percentile

Revenue

Up

$3,243,281

Up $363,012 (+13%) from 2016

Expenses

Down

$2,823,530

Down $219,989 (-7.2%) from 2016

Net Income

Up

$419,751

Up $583,001 (+357%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

2017

Assets$1,840,668
Liabilities$879,226
Net Assets$961,442
Open 2017 Filing

Operations Trend

Revenue Growth65th percentile

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

2017

Revenue$3,243,281
Expenses$2,823,530
Net Income$419,751
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 26, 2018
Return Version
2016v3.1
Gross Receipts
$3,243,281
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$703,232$615,132▼ $88,100
Cash and Non-Interest-Bearing Accounts$87,244$558,230▲ $470,986
Pledges and Grants Receivable$267,007$395,001▲ $127,994
Prepaid Expenses and Deferred Charges$118,604$54,379▼ $64,225
Total Assets$1,416,097$1,840,668▲ $424,571
Other Assets Total$240,010$217,926▼ $22,084
Liabilities
Mortgage Notes Payable Secured by Investment Property$760,000$800,000▲ $40,000
Accounts Payable and Accrued Expenses$114,406$79,226▼ $35,180
Total Liabilities$874,406$879,226▲ $4,820
Net Assets / Fund Balance
Unrestricted Net Assets$541,691$961,442▲ $419,751
Total Net Assets Fund Balance$541,691$961,442▲ $419,751
Total Liabilities and Net Assets / Fund Balance$1,416,097$1,840,668▲ $424,571

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$615,132$311,312$926,444
Other Assets Org$75,000--
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nick FleegeCOOFT$99,750$20,520$120,270
Rick OgstonSuperintendeFT$6,250-$6,250

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$3,236,197
Program Service Revenue
$6,064
Investment Income
$0
Other Revenue
$1,020
All Other Contributions
$255,538
Change in Net Assets
$419,751
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,652,969
Salaries, Compensation, and Employee Benefits$1,170,561
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$584,530$296,027-$880,557
Occupancy$689,381$23,001-$712,382
Fees for Services Other$189,196$141,288-$330,484
Office Expenses$145,848$37,795-$183,643
Depreciation Depletion$146,653--$146,653
Other Employee Benefits$92,696$22,094-$114,790
Current Officers, Directors, Trustees, and Key Employees$89,906$22,477-$112,383
Pension Plan Contributions$34,602$10,153-$44,755
Interest$40,896--$40,896
Insurance-$36,342-$36,342
Information Technology$18,380--$18,380
Payroll Taxes$11,224$6,852-$18,076
Fees for Services Legal-$16,737-$16,737
Fees for Services Accounting-$11,900-$11,900
Travel$6,443--$6,443
Other Expenses$750$2,950-$750
All Other Expenses$480--$480
Total Functional Expenses$2,195,914$627,616$0$2,823,530
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
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 superintendent is provided a copy of the 990 for review and approval. The board receives a copy for their information only.”

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
8038 W MILITARY RD, SAN ANTONIO, TX 78227
Doing Business As
Carpe Diem Schools

Signing Officer

Name
Rick Ogston
Title
Superintendent
Phone
2107749284
Signed
2018-02-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Ogston
Formed
2013
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
40
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, Part IX, Line 11G

“Other professional fees 87,881 32,958 0 consulting 0 108,330 0 miscellaneous contracted serv 60,778 0 0 educational services 40,537 0 0 total 189,196 141,288 0”

Form 990, Part XII

“A financial statement audit was not performed for the july 1, 2016 - june 30, 2017 fiscal year. However, an audit was performed for the september 1, 2016 - june 30, 2016 period for the texas education agency. Going forward, the financial statement audit will coincide with the tax return fiscal year.”

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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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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
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SUPERINTENDENT IS PROVIDED A COPY OF THE 990 FOR REVIEW AND APPROVAL. THE BOARD RECEIVES A COPY FOR THEIR INFORMATION ONLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH 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/ExplanationTxt2COMPENSATION 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/ExplanationTxt3COMPENSATION 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/ExplanationTxt4GOVERNING 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/ExplanationTxt5OTHER PROFESSIONAL FEES 87,881 32,958 0 CONSULTING 0 108,330 0 MISCELLANEOUS CONTRACTED SERV 60,778 0 0 EDUCATIONAL SERVICES 40,537 0 0 TOTAL 189,196 141,288 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6A FINANCIAL STATEMENT AUDIT WAS NOT PERFORMED FOR THE JULY 1, 2016 - JUNE 30, 2017 FISCAL YEAR. HOWEVER, AN AUDIT WAS PERFORMED FOR THE SEPTEMBER 1, 2016 - JUNE 30, 2016 PERIOD FOR THE TEXAS EDUCATION AGENCY. GOING FORWARD, THE FINANCIAL STATEMENT AUDIT WILL COINCIDE WITH THE TAX RETURN FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PHIL VAUGHAN
ReturnHeader/ReturnTs02018-02-27T08:26:04-06:00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,840,668
Liabilities
$879,226
Net assets
$961,442
Revenue
$3,243,281
Expenses
$2,823,530
Net income
$419,751
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.18
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$0.00$0.18$0.02$0.14$0.12
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.09$0.30$2.51$3.17$0.66
2017Detailed filing. Detailed filing data is available for this year.$1.84$0.88$0.96$3.24$2.82$0.42
2016Detailed filing. Detailed filing data is available for this year.$1.42$0.87$0.54$2.88$3.04$0.16
2015Summary only. Only limited summary data is available for this year.$0.78$0.07$0.70$0.92$0.46$0.45
2014Detailed filing. Detailed filing data is available for this year.$0.34$0.01$0.33$0.63$0.31$0.33