Civic Intelligence

Starfall Education Foundation

990 • Fiscal year 2022 • EIN 46-4463460

Jul 01, 2021 to Jun 30, 2022 • Filed on May 02, 2023

4900 Nautilus CT NBoulder, CO 80301

(303) 284-1309

Siviq Scores

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

Liabilities / Assets

24th percentile

0.03x

Higher debt load relative to assets than 24% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

31st percentile

0.10x

Higher debt load relative to revenue than 31% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

61st percentile

13%

Higher net margin than 61% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

56th percentile

$195,520

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

27th percentile

-6.6%

Faster asset growth than 27% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

66th percentile

14%

Faster revenue growth than 66% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$23,216,970

Down $1,629,135 (-6.6%) from 2021

Net Assets

Down

$22,464,465

Down $1,663,578 (-6.9%) from 2021

Liabilities

Up

$752,505

Up $34,443 (+4.8%) from 2021

Revenue

Up

$7,767,938

Up $974,464 (+14%) from 2021

Expenses

Up

$6,794,562

Up $210,299 (+3.2%) from 2021

Net Income

Up

$973,376

Up $764,165 (+365%) from 2021

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2015: $468Liabilities 2015: $4,082Net Assets 2015: -$3,6142015Assets 2016: $27,320,713Liabilities 2016: $401,224Net Assets 2016: $26,919,4892016Assets 2017: $29,634,596Liabilities 2017: $650,536Net Assets 2017: $28,984,0602017Assets 2018: $22,690,449Liabilities 2018: $442,071Net Assets 2018: $22,248,3782018Assets 2019: $22,835,463Liabilities 2019: $513,737Net Assets 2019: $22,321,7262019Assets 2020: $23,360,929Liabilities 2020: $522,181Net Assets 2020: $22,838,7482020Assets 2021: $24,846,105Liabilities 2021: $718,062Net Assets 2021: $24,128,0432021Assets 2022: $23,216,970Liabilities 2022: $752,505Net Assets 2022: $22,464,4652022Assets 2023: $23,868,379Liabilities 2023: $673,638Net Assets 2023: $23,194,7412023Assets 2024: $25,730,375Liabilities 2024: $835,887Net Assets 2024: $24,894,4882024

Highlighted filing

2022

Assets$23,216,970
Liabilities$752,505
Net Assets$22,464,465

Operations Trend

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

$40M$30M$20M$10M$0-$10MRevenue 2015: $2,500Expenses 2015: $10,571Net Income 2015: -$8,0712015Revenue 2016: $30,675,763Expenses 2016: $3,752,661Net Income 2016: $26,923,1022016Revenue 2017: $7,040,470Expenses 2017: $4,941,978Net Income 2017: $2,098,4922017Revenue 2018: $6,786,476Expenses 2018: $7,931,041Net Income 2018: -$1,144,5652018Revenue 2019: $6,466,144Expenses 2019: $6,397,020Net Income 2019: $69,1242019Revenue 2020: $7,522,820Expenses 2020: $7,162,050Net Income 2020: $360,7702020Revenue 2021: $6,793,474Expenses 2021: $6,584,263Net Income 2021: $209,2112021Revenue 2022: $7,767,938Expenses 2022: $6,794,562Net Income 2022: $973,3762022Revenue 2023: $6,957,004Expenses 2023: $7,270,919Net Income 2023: -$313,9152023Revenue 2024: $7,128,304Expenses 2024: $6,886,218Net Income 2024: $242,0862024

Highlighted filing

2022

Revenue$7,767,938
Expenses$6,794,562
Net Income$973,376
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 2, 2023
Return Version
2021v4.2
Gross Receipts
$16,100,071
Mission and Program Overview

Mission

To provide free and low-cost innovative academic educational resources whereby children have fun learning through exploration, gain self-confidence, and develop an understanding and compassion for diversity and the environment.

To provide free and low-cost innovative academic educational resources whereby ... See schedule o children have fun learning through exploration, gain self-confidence, and develop an understanding and compassion for diversity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$9,174,696$9,194,805▲ $20,109
Land, Buildings, and Equipment, Net$6,963,617$7,001,814▲ $38,197
Intangible Assets$6,825,561$4,647,862▼ $2,177,699
Inventories for Sale or Use$681,662$715,225▲ $33,563
Savings and Temporary Cash Investments$379,094$613,416▲ $234,322
Cash and Non-Interest-Bearing Accounts$513,726$587,738▲ $74,012
Accounts Receivable$236,127$301,508▲ $65,381
Prepaid Expenses and Deferred Charges$48,182$83,409▲ $35,227
Pledges and Grants Receivable$0--
Total Assets$24,846,105$23,216,970▼ $1,629,135
Other Assets Total$23,440$71,193▲ $47,753
Liabilities
Accounts Payable and Accrued Expenses$649,209$651,914▲ $2,705
Deferred Revenue$68,853$100,591▲ $31,738
Other Liabilities$0$0→ $0
Total Liabilities$718,062$752,505▲ $34,443
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,128,043$22,464,465▼ $1,663,578
Net Assets With Donor Restrictions$0--
Total Net Assets Fund Balance$24,128,043$22,464,465▼ $1,663,578
Total Liabilities and Net Assets / Fund Balance$24,846,105$23,216,970▼ $1,629,135

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,597,848$203,445$5,801,293
Land$1,177,955-$1,177,955
Equipment$42,642$845,927$888,569
Leasehold Improvements$183,369$4,723$188,092
Other Land Buildings$0--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Roger WilsonPresidentFT$166,136$29,384$195,520
Gina MorganManagerFT$128,117$18,480$146,597
Helen ParkerDirectorFT$124,350$18,272$142,622
Arthur MorganSr Software EngineerFT$107,490$17,242$124,732
Steven PatschkeIt DirectorFT$100,200$24,237$124,437

Board Members and Trustees

NameTitle
Stephen Schutz PhdChairman, CEO, Founder
Gina NoceraBoard Member
Greg HarfstBoard Member
Joel CitronBoard Member
Jordanna SchutzBoard Member
Myrna EstesBoard Member
Diana TempleAssistant Treasurer
Jay Grodin JdSecretary
Paul KnutsonTreasurer, Assistant Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Sps Studios INCFulfillment/hr2905 WILDERNESS PLACE, Boulder, CO 80301$222,769
Pa Hutchison CompanyPrinting400 PENN AVENUE, Jermin, PA 18433$153,663
UpworkContract Labor2625 AUGUSTINE DRIVE 601, Santa Clara, CA 95054$132,132
FedexShippingPO BOX 94515, Palatine, IL 60094$115,235
Revenue and Support

Revenue Composition

Contributions and Grants
$2,596,647
Program Service Revenue
$3,761,225
Investment Income
$1,235,249
Other Revenue
$174,817
Change in Net Assets
$973,376
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,491,786
Salaries, Compensation, and Employee Benefits$3,183,216
Grants and Similar Amounts Paid$119,560
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,358,393$8,513-$2,366,906
Depreciation Depletion$2,225,405$5,123-$2,230,528
Other Employee Benefits$351,921--$351,921
Fees for Services Other$165,013$69,300-$234,313
Current Officers, Directors, Trustees, and Key Employees$62,116$144,938-$207,054
Information Technology$175,246--$175,246
Occupancy$142,656$3,401-$146,057
Pension Plan Contributions$131,340$383-$131,723
Payroll Taxes$107,794$17,818-$125,612
Grants to Domestic Orgs$119,560--$119,560
Fees for Services Accounting-$96,696-$96,696
Insurance-$62,381-$62,381
All Other Expenses$11,614$49,808-$61,422
Fees for Services Legal-$31,206-$31,206
Fees for Service Investment Mgmnt Fees-$31,138-$31,138
Advertising$16,000--$16,000
Travel$6,138$6,140-$12,278
Other Expenses$13,400$11,832-$11,832
Office Expenses$9,439--$9,439
Interest$83--$83
Total Functional Expenses$6,249,703$544,859$0$6,794,562
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
RewildAustin, TX501 (c)(3)Designate Protected Area in Ecuador and Manage Conservation Areas in Peru$93,925
Natura International IncWashington, DC501 (c)(3)Protect Wetlands Area in Santiago De Estero Province, Central Argentina$25,000
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
-See Part VSee Part VNo$222,769
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 35% controlled entity
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Business relationships stephen schutz, jordanna schutz, jay grodin, paul knutson, and diana temple are employed at sps studios.

Form 990, Part VI, Section A, Line 2

Family relationships stephen schutz and jordanna schutz have a family relationship

Form 990, Part VI, Section B, Line 11B

Form 990 review process the form 990 is prepared by an independent accounting firm and then reviewed by the organization's management team. The final draft of the form is provided to the board of directors for their review prior to filing.

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

Conflict of interest policy enforcement & monitoring process a conflict of interest certification and disclosure form are sent to the board of directors and officers annually. The certifications and disclosure forms are reviewed by the board of directors to ensure they are compliant with the policy. If a conflict of interest is identified, the person having the conflict of interest shall not participate or attend any discussion relating to such interest. Violation of the conflict of interest policy may constitute cause for removal or termination of a director or officer.

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

Compensation review the organization takes into consideration a compensation report prepared by the university of denver to determine the compensation for the organization's president. The board of directors review the report and approves the compensation.

Form 990, Part VI, Section C, Line 18

The organization will provide the form 1023 and form 990 upon written request.

Form 990, Part VI, Section C, Line 19

Governing documents the organization will provide its governing documents upon written request.

Filing and Contact Details

Filer

Filer Name
Starfall Education Foundation
EIN
46-4463460
Phone
3032841309
Address
4900 NAUTILUS CT N, BOULDER, CO 80301

Signing Officer

Name
Stephen Schutz
Title
Chairman
Phone
8584568500
Signed
2023-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Schutz
Formed
2014
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
4
Employees
30
Volunteers
5

Preparer

Firm
Grant Thornton Llp
Address
75 STATE ST 13TH FLOOR, BOSTON, MA 02109
Preparer
Erin Couture
Phone
6177237900
Supplemental Narrative

Additional Explanations

Form 990, Part III - Program Service, Line 4A

The foundation, through its website starfall.com, offers free and low-cost interactive experiences whereby children can successfully learn through exploration. It continues the tradition of its predecessor, a social enterprise founded in 2002, as a place where children have fun learning to read. Currently, it includes the core subjects of language arts and mathematics for pre-k, kindergarten, and elementary school grade levels. It teaches through positive reinforcement to help children become confident and intrinsically motivated. The foundation produces and distributes the following educational services and materials for students, parents, teachers and schools: interactive games, videos, movies, e-books, audio books, educational songs, downloadable books, lesson plans, classroom curricula, printed books, practice books, electronic media and teaching tools. These are primarily distributed through the starfall.com website. Many of starfall s digital activities are also available on mobile apps. Starfall offers low-cost membership which expands its free content to include additional games, e-books, movies and songs. Benefits of annual membership include preferred and unlimited access to starfall.com from tablet, mobile phone or computer during a one year membership period. The foundation also maintains a free website at pumerosa.com to help spanish language speakers learn english.

FORM 990, PART XII, LINE 2C:

The foundation's two standing committees consisting of two members each did not exercise their authority to act on behalf. Instead, all committee business was discussed and voted on by the entire six member board and recorded in its minutes.

Financial Statement Notes

PART X, LINE 2:

The foundation follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The foundation is exempt from federal income tax under section 501(c)(3) of the internal revenue code, though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the code. The foundation has also been recognized by the california franchise tax board as exempt from california franchise and income taxes under section 23701d of the california revenue and taxation code. The foundation also has tax-exempt status in colorado. The foundation has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which it has nexus; and to identify and evaluate other matters that may be considered tax positions. The foundation has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements.

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