Civic Intelligence

Madison Highland Prep

990 • Fiscal year 2017 • EIN 46-2323366

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

Organization Profilewww.madisonhighlandprep.com
1431 E Campbell AvePhoenix, AZ 85014

(602) 745-3800

Siviq Scores

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

Liabilities / Assets

91st percentile

0.97x

Higher debt load relative to assets than 91% of similar nonprofits.

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

Liabilities / Revenue

63rd percentile

0.19x

Higher debt load relative to revenue than 63% of similar nonprofits.

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

Net Margin

45th percentile

1.3%

Higher net margin than 45% of similar nonprofits.

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

Top Officer Pay

60th percentile

$82,173

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

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

Asset Growth

87th percentile

33%

Faster asset growth than 87% of similar nonprofits.

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

Revenue Growth

86th percentile

47%

Faster revenue growth than 86% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$616,559

Up $153,070 (+33%) from 2016

Net Assets

Up

$19,342

Up $41,448 (+187%) from 2016

Liabilities

Up

$597,217

Up $111,622 (+23%) from 2016

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin45th percentile

Revenue

Up

$3,099,035

Up $995,910 (+47%) from 2016

Expenses

Up

$3,057,587

Up $1,174,568 (+62%) from 2016

Net Income

Down

$41,448

Down $178,658 (-81%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2014: $74,378Liabilities 2014: $113,548Net Assets 2014: -$39,1702014Assets 2015: $341,006Liabilities 2015: $583,218Net Assets 2015: -$242,2122015Assets 2016: $463,489Liabilities 2016: $485,595Net Assets 2016: -$22,1062016Assets 2017: $616,559Liabilities 2017: $597,217Net Assets 2017: $19,3422017Assets 2018: $1,133,319Liabilities 2018: $963,115Net Assets 2018: $170,2042018Assets 2019: $1,709,060Liabilities 2019: $1,287,603Net Assets 2019: $421,4572019Assets 2020: $2,144,941Liabilities 2020: $917,313Net Assets 2020: $1,227,6282020Assets 2021: $2,925,839Liabilities 2021: $578,518Net Assets 2021: $2,347,3212021Assets 2022: $3,382,016Liabilities 2022: $366,351Net Assets 2022: $3,015,6652022Assets 2023: $4,383,854Liabilities 2023: $650,970Net Assets 2023: $3,732,8842023Assets 2024: $4,932,262Liabilities 2024: $921,340Net Assets 2024: $4,010,9222024

Highlighted filing

2017

Assets$616,559
Liabilities$597,217
Net Assets$19,342
Open 2017 Filing

Operations Trend

Revenue Growth86th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $397,480Expenses 2014: $438,150Net Income 2014: -$40,6702014Revenue 2015: $1,144,603Expenses 2015: $1,358,022Net Income 2015: -$213,4192015Revenue 2016: $2,103,125Expenses 2016: $1,883,019Net Income 2016: $220,1062016Revenue 2017: $3,099,035Expenses 2017: $3,057,587Net Income 2017: $41,4482017Revenue 2018: $4,025,882Expenses 2018: $3,875,020Net Income 2018: $150,8622018Revenue 2019: $4,457,635Expenses 2019: $4,206,381Net Income 2019: $251,2542019Revenue 2020: $4,641,669Expenses 2020: $3,835,498Net Income 2020: $806,1712020Revenue 2021: $5,187,031Expenses 2021: $4,067,338Net Income 2021: $1,119,6932021Revenue 2022: $6,034,170Expenses 2022: $5,365,826Net Income 2022: $668,3442022Revenue 2023: $6,106,548Expenses 2023: $5,389,329Net Income 2023: $717,2192023Revenue 2024: $6,601,764Expenses 2024: $6,323,726Net Income 2024: $278,0382024

Highlighted filing

2017

Revenue$3,099,035
Expenses$3,057,587
Net Income$41,448
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.0
Gross Receipts
$3,099,035
Mission and Program Overview

Mission

To create opportunities for students and families to develop critical thinking skills that will ensure that they become successful members of an increasingly innovation-driven society and global marketplace.

To prepare students to succeed in the future global arena by emphasizing critical thinking and inquiry learning and tying course content to interrelated themes to increase relevance and application.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$148,589$421,668▲ $273,079
Loans From Officers Directors-$221,700-
Land, Buildings, and Equipment, Net$87,393$102,658▲ $15,265
Pledges and Grants Receivable$227,507$85,767▼ $141,740
Prepaid Expenses and Deferred Charges-$6,466-
Total Assets$463,489$616,559▲ $153,070
Liabilities
Accounts Payable and Accrued Expenses$373,630$283,221▼ $90,409
Other Liabilities$111,965--
Mortgage Notes Payable Secured by Investment Property-$92,296-
Total Liabilities$485,595$597,217▲ $111,622
Net Assets / Fund Balance
Unrestricted Net Assets$-22,106$19,342▲ $41,448
Total Net Assets Fund Balance$-22,106$19,342▲ $41,448
Total Liabilities and Net Assets / Fund Balance$463,489$616,559▲ $153,070

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$102,658$22,038$124,696
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Kerry ClarkPresident Executive DirectorFT$76,101$6,072$82,173

Board Members and Trustees

NameTitle
Don FlanaganDirector
Dr Wendy OakesDirector
Dr Don EnzDirector Officer
Dr Quinn KellisDirector Officer

Highest Paid Contractors

ContractorServicesLocationCompensation
Greenfield Education INCConsulting Services10240 N 86TH ST, Scottsdale, AZ 85258$673,160
Revenue and Support

Revenue Composition

Contributions and Grants
$3,034,664
Program Service Revenue
$64,371
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$41,448

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,099,035
Total Revenue per Audited Statements
$3,099,035
Total Revenue per Form 990
$3,099,035
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,941,509
Salaries, Compensation, and Employee Benefits$1,116,078
Total Fundraising Expense$33,658
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$709,616$183,537-$893,153
Fees for Services Management$291,154$348,348$33,658$673,160
Occupancy$339,331$87,766-$427,097
Fees for Services Other$193,082--$193,082
Office Expenses-$147,304-$147,304
Other Employee Benefits$72,595$18,776-$91,371
Depreciation Depletion$76,497--$76,497
Payroll Taxes$51,633$13,354-$64,987
Fees for Services Accounting-$60,978-$60,978
Other Expenses$54,068--$54,068
Pension Plan Contributions$29,314$7,582-$36,896
Current Officers, Directors, Trustees, and Key Employees-$29,671-$29,671
Conferences and Meetings$21,524--$21,524
Interest-$20,326-$20,326
Insurance-$10,973-$10,973
Fees for Services Legal-$10,750-$10,750
Information Technology-$4,675-$4,675
Travel$666--$666
Total Functional Expenses$2,079,889$944,040$33,658$3,057,587

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,057,587
Total Expenses per Audited Statements$3,057,587
Total Expenses per Form 990$3,057,587
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Kerry Clark is a common officerManagement AgreementYes$673,160

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$221,700-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Capital Lease Payable-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
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, Part VI, Section B, Line 11B

“The executive director of the school distributes a pdf copy of the 990 return to all board members for review and comment prior to being filed.at the first meeting of the board following the filing of the 990 with the irs, the complete form 990 is presented to the board by the schools lead officers with responsibility over the form 990s review thereafter, questions are taken and the form, its preparation, and its public relation impact is discussed.”

Form 990, Part VI, Section B, Line 12C

“At each board and committee meeting, if there is a discussion of selecting or engaging a vendor or service provider, all in attendance are asked to recuse themselves from this discussion if there could be a perceived conflict. Annually, the school reviews and discusses the conflict of interest policy and requests that each board member list and acknowledge any known conflicts.”

Form 990, Part VI, Section B, Line 15

“The board of directors review the compensation for the executive director by comparing their compensation to the compensation of individuals in like positions, in comparable organizations using forms 990, compensation studies, and other available data.the board then approves any changes in compensation based on this information. The organization has no other paid officers or employees meeting the definition of a key employee.”

Form 990, Part VI, Section C, Line 19

“The school will provide in a timely manner, copies of all governing documents, including its conflict of interest policies and financial statements, when requested in writing or in person.”

Filing and Contact Details

Filer

Filer Name
Madison Highland Prep
EIN
46-2323366
Phone
6027453800
Address
1431 E CAMPBELL AVE, PHOENIX, AZ 85014

Signing Officer

Name
Kerry Clark
Title
President Executive Director
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kerry Clark
Formed
2012
Legal Domicile
Az
Voting Board Members
5
Independent Board Members
4
Employees
26
Volunteers
15

Preparer

Firm
Sechler Morgan Cpas Pllc
Address
2418 W BARROW DRIVE, CHANDLER, AZ 85224
Preparer
Kristina Morgan CPA
Phone
6022302700
Supplemental Narrative

Additional Explanations

Form 990, Part III, Section 1, Line 1

“Exempt purpose madison highland prep is a s.t.e.m. College- preparatory high school. The school features a rigorous academic program with an emphasis on 21st century preparation defined by critical thinking and inquiry learning. The school believes in tying course content to interrelated themes to increase relevance and application in the interest of preparing students to succeed in the future global arena”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CAPITAL LEASE PAYABLE
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
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IRS990ScheduleD/TotalExpensesPerForm990Amt03057587
IRS990ScheduleD/TotalRevenuePerForm990Amt03099035
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL RECEIVED REVENUE FROM THE ARIZONA CHARTER SCHOOLS PROGRAM, A PROGRAM OF THE ARIZONA DEPARTMENT OF EDUCATION, AND RECEIVED FEDERAL EDUCATION FUNDING UNDER TITLE 1 AND UNDER I.D.E.A. THROUGH THE ARIZONA DEPARTMENT OF EDUCATION.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0Greenfield Education
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Kerry Clark is a common officer
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0A/P-Mgmt Fees
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0673200
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Kerry Clark is a common officer
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL HAS ENTERED INTO A CHARTER SCHOOL MANAGEMENT AGREEMENT WITH AN ENTITY THAT IS OWNED BY THE EXECUTIVE DIRECTOR. THE AGREEMENT BEGAN DURING 2017 AND CALLS FOR THE ENTITY TO PROVIDE SCHOOL DEVELOPMENT, OVERSIGHT AND MANAGEMENT OF EDUCATIONAL PROGRAMS, CURRICULUM DEVELOPMENT, GRANT WRITING AND GRANT OVERSIGHT, FINANCIAL SERVICES, HUMAN RESOURCE SERVICES, INFORMATION SYSTEMS SUPPORT, AND FACILITIES MANAGEMENT IN EXCHANGE FOR TWENTY FIVE PERCENT OF STATE EQUALIZATION FUNDING. MANAGEMENT FEE EXPENSE FOR THE YEAR ENDING JUNE 30, 2017 TOTALED 673,160.OF WHICH 221,700 REMAINED UNPAID AT JUNE 30, 2017.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV Line 1
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXEMPT PURPOSE MADISON HIGHLAND PREP IS A S.T.E.M. COLLEGE- PREPARATORY HIGH SCHOOL. THE SCHOOL FEATURES A RIGOROUS ACADEMIC PROGRAM WITH AN EMPHASIS ON 21ST CENTURY PREPARATION DEFINED BY CRITICAL THINKING AND INQUIRY LEARNING. THE SCHOOL BELIEVES IN TYING COURSE CONTENT TO INTERRELATED THEMES TO INCREASE RELEVANCE AND APPLICATION IN THE INTEREST OF PREPARING STUDENTS TO SUCCEED IN THE FUTURE GLOBAL ARENA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR OF THE SCHOOL DISTRIBUTES A PDF COPY OF THE 990 RETURN TO ALL BOARD MEMBERS FOR REVIEW AND COMMENT PRIOR TO BEING FILED.AT THE FIRST MEETING OF THE BOARD FOLLOWING THE FILING OF THE 990 WITH THE IRS, THE COMPLETE FORM 990 IS PRESENTED TO THE BOARD BY THE SCHOOLS LEAD OFFICERS WITH RESPONSIBILITY OVER THE FORM 990S REVIEW THEREAFTER, QUESTIONS ARE TAKEN AND THE FORM, ITS PREPARATION, AND ITS PUBLIC RELATION IMPACT IS DISCUSSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AT EACH BOARD AND COMMITTEE MEETING, IF THERE IS A DISCUSSION OF SELECTING OR ENGAGING A VENDOR OR SERVICE PROVIDER, ALL IN ATTENDANCE ARE ASKED TO RECUSE THEMSELVES FROM THIS DISCUSSION IF THERE COULD BE A PERCEIVED CONFLICT. ANNUALLY, THE SCHOOL REVIEWS AND DISCUSSES THE CONFLICT OF INTEREST POLICY AND REQUESTS THAT EACH BOARD MEMBER LIST AND ACKNOWLEDGE ANY KNOWN CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEW THE COMPENSATION FOR THE EXECUTIVE DIRECTOR BY COMPARING THEIR COMPENSATION TO THE COMPENSATION OF INDIVIDUALS IN LIKE POSITIONS, IN COMPARABLE ORGANIZATIONS USING FORMS 990, COMPENSATION STUDIES, AND OTHER AVAILABLE DATA.THE BOARD THEN APPROVES ANY CHANGES IN COMPENSATION BASED ON THIS INFORMATION. THE ORGANIZATION HAS NO OTHER PAID OFFICERS OR EMPLOYEES MEETING THE DEFINITION OF A KEY EMPLOYEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE SCHOOL WILL PROVIDE IN A TIMELY MANNER, COPIES OF ALL GOVERNING DOCUMENTS, INCLUDING ITS CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS, WHEN REQUESTED IN WRITING OR IN PERSON.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Section 1, Line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
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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
$616,559
Liabilities
$597,217
Net assets
$19,342
Revenue
$3,099,035
Expenses
$3,057,587
Net income
$41,448
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.93$0.92$4.01$6.60$6.32$0.28
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.38$0.65$3.73$6.11$5.39$0.72
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.38$0.37$3.02$6.03$5.37$0.67
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.93$0.58$2.35$5.19$4.07$1.12
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.14$0.92$1.23$4.64$3.84$0.81
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.71$1.29$0.42$4.46$4.21$0.25
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.13$0.96$0.17$4.03$3.88$0.15
2017Detailed filing. Detailed filing data is available for this year.$0.62$0.60$0.02$3.10$3.06$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.46$0.49$0.02$2.10$1.88$0.22
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.58$0.24$1.14$1.36$0.21
2014Detailed filing. Detailed filing data is available for this year.$0.07$0.11$0.04$0.40$0.44$0.04