Civic Intelligence

Learning Springs Academy Inc.

990 • Fiscal year 2018 • EIN 46-4945669

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 17, 2019

Organization Profilewww.learningspringsacademy.com
1718 Andover LaneSan Jose, CA 95124

(408) 216-8867

Siviq Scores

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

Liabilities / Assets

98th percentile

2.10x

Higher debt load relative to assets than 98% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

77th percentile

0.24x

Higher debt load relative to revenue than 77% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

25th percentile

-7.0%

Higher net margin than 25% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

94th percentile

$156,058

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 23.1% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

99th percentile

873%

Faster asset growth than 99% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

35th percentile

-2.5%

Faster revenue growth than 35% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$75,861

Up $68,066 (+873%) from 2017

Net Assets

Down

-$83,647

Down $47,332 (-130%) from 2017

Liabilities

Up

$159,508

Up $115,398 (+262%) from 2017

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin25th percentile

Revenue

Down

$674,146

Down $17,562 (-2.5%) from 2017

Expenses

Down

$721,478

Down $79,190 (-9.9%) from 2017

Net Income

Up

-$47,332

Up $61,628 (+57%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$600K$400K$200K$0-$200K-$400KAssets 2015: $166,093Liabilities 2015: $0Net Assets 2015: $166,0932015Assets 2016: $72,645Liabilities 2016: $0Net Assets 2016: $72,6452016Assets 2017: $7,795Liabilities 2017: $44,110Net Assets 2017: -$36,3152017Assets 2018: $75,861Liabilities 2018: $159,508Net Assets 2018: -$83,6472018Assets 2019: $16,398Liabilities 2019: $239,550Net Assets 2019: -$223,1522019Assets 2020: $189,734Liabilities 2020: $469,911Net Assets 2020: -$280,1772020Assets 2021: $124,051Liabilities 2021: $390,439Net Assets 2021: -$266,3882021Assets 2022: $201,964Liabilities 2022: $399,076Net Assets 2022: -$197,1122022Assets 2023: $230,370Liabilities 2023: $397,732Net Assets 2023: -$167,3622023Assets 2024: $203,774Liabilities 2024: $318,470Net Assets 2024: -$114,6962024

Highlighted filing

2018

Assets$75,861
Liabilities$159,508
Net Assets-$83,647
Open 2018 Filing

Operations Trend

Revenue Growth35th percentile

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

$1.0M$500K$0-$500KRevenue 2015: $785,877Expenses 2015: $619,784Net Income 2015: $166,0932015Revenue 2016: $751,597Expenses 2016: $845,045Net Income 2016: -$93,4482016Revenue 2017: $691,708Expenses 2017: $800,668Net Income 2017: -$108,9602017Revenue 2018: $674,146Expenses 2018: $721,478Net Income 2018: -$47,3322018Revenue 2019: $401,843Expenses 2019: $541,348Net Income 2019: -$139,5052019Revenue 2020: $340,495Expenses 2020: $397,520Net Income 2020: -$57,0252020Revenue 2021: $413,829Expenses 2021: $400,040Net Income 2021: $13,7892021Revenue 2022: $595,818Expenses 2022: $526,542Net Income 2022: $69,2762022Revenue 2023: $542,875Expenses 2023: $513,125Net Income 2023: $29,7502023Revenue 2024: $570,626Expenses 2024: $517,960Net Income 2024: $52,6662024

Highlighted filing

2018

Revenue$674,146
Expenses$721,478
Net Income-$47,332
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 17, 2019
Return Version
2018v3.1
Gross Receipts
$674,146
Mission and Program Overview

Mission

To create child-centered, individualized, developmentally appropriate programs serving preschool children who are neurotypical and those with special needs and their families in an inclusion model.

To create child-centered, individualized, developmentally appropriateprograms serving preschool children who are neurotypical and thosewith special needs and their families in an inclusion model.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$70,359-
Land, Buildings, and Equipment, Net$7,795$5,502▼ $2,293
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$7,795$75,861▲ $68,066
Other Assets Total-$0-
Liabilities
Other Liabilities$44,110$159,508▲ $115,398
Total Liabilities$44,110$159,508▲ $115,398
Net Assets / Fund Balance
Unrestricted Net Assets$-36,315$-83,647▼ $47,332
Total Net Assets Fund Balance$-36,315$-83,647▼ $47,332
Total Liabilities and Net Assets / Fund Balance$7,795$75,861▲ $68,066

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,502$5,961$11,463
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
LUCIA D'SOUZAPresident & CEOFT$156,058$156,058

Board Members and Trustees

NameTitle
Benedict GomesSecretary
Muffie FultonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$674,146
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-47,332
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$506,964
Other Expenses$214,514
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$248,022$54,444-$302,466
Current Officers, Directors, Trustees, and Key Employees$127,968$28,090-$156,058
Payroll Taxes$30,660$6,730-$37,390
Other Employee Benefits$9,061$1,989-$11,050
Other Expenses$6,532$1,434-$7,966
Insurance$6,390$1,403-$7,793
Fees for Services Other$5,467$1,200-$6,667
Office Expenses$4,599$1,010-$5,609
Depreciation Depletion$1,880$413-$2,293
Fees for Services Accounting$1,792$393-$2,185
Conferences and Meetings$1,681$369-$2,050
All Other Expenses$1,490$327-$1,817
Fees for Services Legal$206$45-$251
Total Functional Expenses$591,612$129,866$0$721,478
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loans & Other Liabilities$155,688
Credit Cards Payable$3,820
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The draft copy of the return will be reviewed by the officers and directors.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents, tax returns, policies and financial statements are available to public upon request.”

Filing and Contact Details

Filer

Filer Name
Learning Springs Academy Inc
EIN
46-4945669
Phone
4082168867
Address
1718 ANDOVER LANE, SAN JOSE, CA 95124

Signing Officer

Name
LUCIA D'SOUZA
Title
CEO
Signed
2019-09-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
LUCIA D'SOUZA
Formed
2015
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
21
Volunteers
9

Preparer

Firm
Ash Varikkat & Associates CPA
Address
3375 Scott Blvd Ste 440, Santa Clara, CA 95054
Preparer
Ash Varikkat CPA
Phone
4082167444
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IRS990/Desc0The specific purposes of Learning Springs Academy, Inc.(hereinafter referred to as the LSA Inc.)are:* To create child-centered, individualized, developmentally appropriate programs serving preschool children who are neurotypical and those with social needs and their families in an inclusion model.* To build on respectful and nurturing interactions between teachers and children, and on each child's curiosity and creativity, we come together as a classroom community whose goal is to inspire a lifelong love of exploration, thought, and learning. LSA Inc's core values are inclusion, diversity, and fairness. LSA Inc. work in partnership with parents, communicating closely, encouraging family involvement in the program and offering support and education on issues relating to child development, special education, behavior management and care. LSA Inc. is also a learning center, where parents participate in their child's early education and learn about early childhood developmental stages and practices.Preschool special education services and other community supports and services for young children and their families assist preschoolers with special needs to develop the skills that will be the foundation for school success.* To provide ongoing high quality professional development opportunities that support and prepare our teachers to obtain a national credential and/or an academic degree in early childhood education or a related field.* To assess regularly the quality of the professional development experiences for early child care educators through surveys, interviews and parental input.* To foster collaborative partnerships with local, state, and national organizations also interested in advancing and promoting the importance and accessibility of quality child care for children with special needs.* To provide educational resources and support; to promote equal educational opportunities for all children with special learning needs.Preschool Program - We help families and children with special needs who have not been able to experience a successful school experience in a large school setting either in a public or private school environment. This allows parents to continue working without being called to pick up their child when he/she is having behavioral issues at school. We refer students for further assessments to their public schools when it is clear that a child needs further assistance. The goal of our preschool program is to implement early intervention support for children identified with special needs and to work with our neuro-typical children to ensure they are over prepared for Kindergarten.K1 Program we work with children who have been identified with special needs (Autism/Speech Delays/Anxiety/ADHD)who are very bright but need a small class setting with qualified staff who can mold the environment to ensure each childs support. Our goal is to eventually transition each child to a less restrictive setting.School Age Program we pick up children from neighborhood schools and provide parents and children with a safe structured setting where the children get help with their homework and are engaged in a structured STEAM rich environment allowing parents to continue working full time.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARDS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LOANS & OTHER LIABILITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05502
IRS990ScheduleD/TotalLiabilityAmt0159508
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0156058
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LUCIA D'SOUZA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0156058
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The draft copy of the return will be reviewed by the officers and directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Governing documents, tax returns, policies and financial statements are available to public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07795
IRS990/TotalAssetsEOYAmt075861
IRS990/TotalAssetsGrp/BOYAmt07795
IRS990/TotalAssetsGrp/EOYAmt075861
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0674146
IRS990/TotalEmployeeCnt021
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0129866
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0591612
IRS990/TotalFunctionalExpensesGrp/TotalAmt0721478
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt044110
IRS990/TotalLiabilitiesEOYAmt0159508
IRS990/TotalLiabilitiesGrp/BOYAmt044110
IRS990/TotalLiabilitiesGrp/EOYAmt0159508
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-36315
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-83647
IRS990/TotalProgramServiceExpensesAmt0591612
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt0156058
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0674146
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07795
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt075861
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-36315
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-83647
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01718 ANDOVER LANE
IRS990/USAddress/CityNm0SAN JOSE
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd095124
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0http://www.learningspringsacademy.com/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LUCIA D'SOUZA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-09-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEARNING SPRINGS ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0LEAR
ReturnHeader/Filer/EIN0464945669
ReturnHeader/Filer/PhoneNum04082168867
ReturnHeader/Filer/USAddress/AddressLine1Txt01718 ANDOVER LANE
ReturnHeader/Filer/USAddress/CityNm0SAN JOSE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd095124
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0262151024
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ASH VARIKKAT & ASSOCIATES CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03375 Scott Blvd Ste 440
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Santa Clara
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd095054
ReturnHeader/PreparerPersonGrp/PhoneNum04082167444
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ASH VARIKKAT CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02019-09-17T15:29:33-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$75,861
Liabilities
$159,508
Net assets
-$83,647
Revenue
$674,146
Expenses
$721,478
Net income
-$47,332
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.04$3.18$1.15$5.71$5.18$0.53
2023Summary only. Only limited summary data is available for this year.$2.30$3.98$1.67$5.43$5.13$0.30
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.02$3.99$1.97$5.96$5.27$0.69
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.24$3.90$2.66$4.14$4.00$0.14
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.90$4.70$2.80$3.40$3.98$0.57
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.16$2.40$2.23$4.02$5.41$1.40
2018Detailed filing. Detailed filing data is available for this year.$0.76$1.60$0.84$6.74$7.21$0.47
2017Summary only. Only limited summary data is available for this year.$0.08$0.44$0.36$6.92$8.01$1.09
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.00$0.73$7.52$8.45$0.93
2015Summary only. Only limited summary data is available for this year.$1.66$0.00$1.66$7.86$6.20$1.66