Civic Intelligence

Bright Star Education Group

990 • Fiscal year 2018 • EIN 46-3566533

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

Organization ProfileBRIGHTSTARSCHOOLS.ORG
2636 S Mansfield AvenueLos Angeles, CA 90016

(323) 954-9957

Siviq Scores

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

Liabilities / Assets

84th percentile

0.74x

Higher debt load relative to assets than 84% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

91st percentile

3.25x

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

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

87th percentile

38%

Higher net margin than 87% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

41st percentile

$216,581

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

99th percentile

387%

Faster asset growth than 99% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

95th percentile

130%

Faster revenue growth than 95% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$36,459,196

Up $28,975,492 (+387%) from 2017

Net Assets

Up

$9,648,137

Up $3,155,157 (+49%) from 2017

Liabilities

Up

$26,811,059

Up $25,820,335 (+2606%) from 2017

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin87th percentile

Revenue

Up

$8,256,472

Up $4,668,511 (+130%) from 2017

Expenses

Up

$5,101,315

Up $1,303,482 (+34%) from 2017

Net Income

Up

$3,155,157

Up $3,365,029 (+1603%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$80M$60M$40M$20M$0Assets 2014: $7,937,507Liabilities 2014: $216,710Net Assets 2014: $7,720,7972014Assets 2015: $6,579,084Liabilities 2015: $64,495Net Assets 2015: $6,514,5892015Assets 2016: $6,780,319Liabilities 2016: $77,467Net Assets 2016: $6,702,8522016Assets 2017: $7,483,704Liabilities 2017: $990,724Net Assets 2017: $6,492,9802017Assets 2018: $36,459,196Liabilities 2018: $26,811,059Net Assets 2018: $9,648,1372018Assets 2019: $36,143,015Liabilities 2019: $26,874,109Net Assets 2019: $9,268,9062019Assets 2020: $43,145,964Liabilities 2020: $29,474,435Net Assets 2020: $13,671,5292020Assets 2021: $41,717,301Liabilities 2021: $29,193,593Net Assets 2021: $12,523,7082021Assets 2022: $48,594,863Liabilities 2022: $35,480,692Net Assets 2022: $13,114,1712022Assets 2023: $72,669,383Liabilities 2023: $62,509,913Net Assets 2023: $10,159,4702023Assets 2024: $70,011,918Liabilities 2024: $61,401,722Net Assets 2024: $8,610,1962024

Highlighted filing

2018

Assets$36,459,196
Liabilities$26,811,059
Net Assets$9,648,137
Open 2018 Filing

Operations Trend

Revenue Growth95th percentile

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

$10M$5.0M$0-$5.0MRevenue 2014: $1,247,065Expenses 2014: $1,266,261Net Income 2014: -$19,1962014Revenue 2015: $2,519,009Expenses 2015: $3,725,217Net Income 2015: -$1,206,2082015Revenue 2016: $2,930,384Expenses 2016: $2,742,121Net Income 2016: $188,2632016Revenue 2017: $3,587,961Expenses 2017: $3,797,833Net Income 2017: -$209,8722017Revenue 2018: $8,256,472Expenses 2018: $5,101,315Net Income 2018: $3,155,1572018Revenue 2019: $772,142Expenses 2019: $2,883,288Net Income 2019: -$2,111,1462019Revenue 2020: $3,134,673Expenses 2020: $4,383,290Net Income 2020: -$1,248,6172020Revenue 2021: $3,030,526Expenses 2021: $4,178,347Net Income 2021: -$1,147,8212021Revenue 2022: $3,700,945Expenses 2022: $4,763,355Net Income 2022: -$1,062,4102022Revenue 2023: $3,050,794Expenses 2023: $6,005,495Net Income 2023: -$2,954,7012023Revenue 2024: $3,264,464Expenses 2024: $4,813,738Net Income 2024: -$1,549,2742024

Highlighted filing

2018

Revenue$8,256,472
Expenses$5,101,315
Net Income$3,155,157
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$8,256,472
Mission and Program Overview

Mission

Bright star education group is a nonprofit organization that provides a full range of back office and business services to bright star schools, a nonprofit whose mission is to provide holistic, inclusive support for all students to achieve academic excellence and grow their unique talents so that they find joy and fulfillment in higher education, career, and life.

To provides a full range of back office and business services to bright star schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$5,116,120$27,905,192▲ $22,789,072
Land, Buildings, and Equipment, Net$135,389$3,845,934▲ $3,710,545
Prepaid Expenses and Deferred Charges$1,191,374$3,192,068▲ $2,000,694
Accounts Receivable$1,040,821$1,516,002▲ $475,181
Total Assets$7,483,704$36,459,196▲ $28,975,492
Liabilities
Tax Exempt Bond Liabilities-$25,276,197-
Accounts Payable and Accrued Expenses$75,348$919,117▲ $843,769
Other Liabilities$915,376$615,745▼ $299,631
Total Liabilities$990,724$26,811,059▲ $25,820,335
Net Assets / Fund Balance
Unrestricted Net Assets$6,492,980$9,648,137▲ $3,155,157
Total Net Assets Fund Balance$6,492,980$9,648,137▲ $3,155,157
Total Liabilities and Net Assets / Fund Balance$7,483,704$36,459,196▲ $28,975,492

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,474,422-$3,474,422
Leasehold Improvements$371,512$24,181$395,693
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Veronica YuVP OperationsPT$120,725$9,258$129,983
China HabteControllerPT$122,945$5,238$128,183
Jaime HernandezDirector of Information TechPT$118,250$4,405$122,655

Board Members and Trustees

NameTitle
Andrew MurrChairman
Hrag HamalianExecutive Director
Dean IndotMember
Larry KleinMember
Marc MitchellMember
Michael SolomanMember
Scott LayfieldMember
James MinSecretary
Marguerite RangelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,965,095
Program Service Revenue
$3,110,847
Investment Income
$3,492
Other Revenue
$177,038
All Other Contributions
$411,000
Change in Net Assets
$3,155,157

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial1$4,021,763Fair Market Value (FMV)
Total Noncash Contributions1$4,021,763-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,256,472
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$8,256,472
Total Revenue per Form 990
$8,256,472
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,978,057
Salaries, Compensation, and Employee Benefits$2,123,258
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,691,482--$1,691,482
Occupancy$1,465,653--$1,465,653
Interest-$550,628-$550,628
Fees for Services Other$280,894--$280,894
Current Officers, Directors, Trustees, and Key Employees$149,222--$149,222
Other Employee Benefits$141,340--$141,340
Payroll Taxes$141,214--$141,214
Advertising$112,802--$112,802
Information Technology$105,051--$105,051
Office Expenses-$86,385-$86,385
Fees for Services Legal-$77,437-$77,437
Depreciation Depletion$24,181--$24,181
Other Expenses$12,406--$12,406
Travel-$10,427-$10,427
Insurance-$8,414-$8,414
All Other Expenses$855--$855
Total Functional Expenses$4,368,024$733,291$0$5,101,315

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,101,315
Total Expenses per Audited Statements$5,101,315
Total Expenses per Form 990$5,101,315
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Deferred Rent$615,745

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia School Finance Authority2017-12-21$26,262,365Construction of school facilities

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$26,262,365--$489,300

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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 draft form is reviewed and approved by the finance committee and the board.”

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

“Annual update of the disclosure. The organization has a strict policy against related party transactions.”

Form 990, Part VI, Section B, Line 15A

“Currently the compensation of the organization's key officers are reviewed and approved by the board. The board reviews and approves the budget after the actual salary adjustments are made.”

Form 990, Part VI, Section C, Line 19

“The governing documents, financial statements, 990, and conflict of interest policy for bright star education group are made available through the website, as well as available upon request at any of the school locations.”

Filing and Contact Details

Filer

Filer Name
Bright Star Education Group
EIN
46-3566533
Phone
3239549957
Address
2636 S MANSFIELD AVENUE, LOS ANGELES, CA 90016

Signing Officer

Name
China Habte
Title
Controller
Phone
3239549957
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hrag Hamalian
Formed
2013
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
7
Employees
26
Volunteers
0

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Wade Mcmullen CPA
Phone
6268577300
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Bseg is a non-profit entity exempt from the payment of income taxes under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. 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. Bseg files informational returns in the u.s. Federal jurisdiction, and the state of california.”

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IRS990/MissionDesc0BRIGHT STAR EDUCATION GROUP IS A NONPROFIT ORGANIZATION THAT PROVIDES A FULL RANGE OF BACK OFFICE AND BUSINESS SERVICES TO BRIGHT STAR SCHOOLS, A NON-PROFIT WHOSE MISSION IS TO PROVIDE HOLISTIC, INCLUSIVE SUPPORT FOR ALL STUDENTS TO ACHIEVE ACADEMIC EXCELLENCE AND GROW THEIR UNIQUE TALENTS SO THAT THEY FIND JOY AND FULFILLMENT IN HIGHER EDUCATION, CAREER, AND LIFE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NondeductibleContributionsInd00
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IRS990/OfficeExpensesGrp/TotalAmt086385
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd01
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/OtherExpensesGrp/Desc2HIRING EXPENSE
IRS990/OtherExpensesGrp/Desc3INSTRUCTIONAL MATERIALS
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PoliticalCampaignActyInd00
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IRS990/ProhibitedTaxShelterTransInd00
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IRS990/QuidProQuoContributionsInd00
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IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
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IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/CollegeOrganizationInd0X
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0615745
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED RENT
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt08256472
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BSEG IS A NON-PROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. 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. BSEG FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF CALIFORNIA.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt05101315
IRS990ScheduleD/TotalLiabilityAmt0615745
IRS990ScheduleD/TotalRevenuePerForm990Amt08256472
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08256472
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05101315
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0HRAG HAMALIAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0CURRENTLY THE COMPENSATION OF THE ORGANIZATION'S KEY OFFICERS ARE REVIEWED AND APPROVED BY THE BOARD. THE BOARD REVIEWS AND APPROVES THE BUDGET AFTER THE ACTUAL SALARY ADJUSTMENTS ARE MADE.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
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IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02017-12-21
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0680280917
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0CALIFORNIA SCHOOL FINANCE AUTHORITY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0CONSTRUCTION OF SCHOOL FACILITIES
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd00

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,459,196
Liabilities
$26,811,059
Net assets
$9,648,137
Revenue
$8,256,472
Expenses
$5,101,315
Net income
$3,155,157
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$70.0$61.4$8.61$3.26$4.81$1.55
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$72.7$62.5$10.2$3.05$6.01$2.95
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$48.6$35.5$13.1$3.70$4.76$1.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.7$29.2$12.5$3.03$4.18$1.15
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$43.1$29.5$13.7$3.13$4.38$1.25
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.1$26.9$9.27$0.77$2.88$2.11
2018Detailed filing. Detailed filing data is available for this year.$36.5$26.8$9.65$8.26$5.10$3.16
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.48$0.99$6.49$3.59$3.80$0.21
2016Detailed filing. Detailed filing data is available for this year.$6.78$0.08$6.70$2.93$2.74$0.19
2015Detailed filing. Detailed filing data is available for this year.$6.58$0.06$6.51$2.52$3.73$1.21
2014Detailed filing. Detailed filing data is available for this year.$7.94$0.22$7.72$1.25$1.27$0.02