Civic Intelligence

Vega Collegiate Academy

990 • Fiscal year 2018 • EIN 47-2103502

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 24, 2019

1345 Macon StreetAurora, CO 80010

(303) 828-6217

Siviq Scores

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

Liabilities / Assets

95th percentile

1.26x

Higher debt load relative to assets than 95% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

93rd percentile

2.86x

Higher debt load relative to revenue than 93% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

4th percentile

-71%

Higher net margin than 4% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

53rd percentile

$70,291

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

99th percentile

759%

Faster asset growth than 99% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

99th percentile

691%

Faster revenue growth than 99% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$3,320,155

Up $2,933,663 (+759%) from 2017

Net Assets

Down

-$869,408

Down $999,531 (-768%) from 2017

Liabilities

Up

$4,189,563

Up $3,933,194 (+1534%) from 2017

Revenue

Up

$1,462,581

Up $1,277,745 (+691%) from 2017

Expenses

Up

$2,494,716

Up $2,216,305 (+796%) from 2017

Net Income

Down

-$1,032,135

Down $938,560 (-1003%) from 2017

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2017: $386,492Liabilities 2017: $256,369Net Assets 2017: $130,1232017Assets 2018: $3,320,155Liabilities 2018: $4,189,563Net Assets 2018: -$869,4082018Assets 2020: $3,471,587Liabilities 2020: $5,138,149Net Assets 2020: -$1,666,5622020Assets 2021: $18,946,166Liabilities 2021: $20,676,708Net Assets 2021: -$1,730,5422021Assets 2022: $19,926,583Liabilities 2022: $22,039,749Net Assets 2022: -$2,113,1662022Assets 2023: $21,093,608Liabilities 2023: $24,612,537Net Assets 2023: -$3,518,9292023Assets 2024: $20,694,921Liabilities 2024: $25,600,972Net Assets 2024: -$4,906,0512024

Highlighted filing

2018

Assets$3,320,155
Liabilities$4,189,563
Net Assets-$869,408

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2017: $184,836Expenses 2017: $278,411Net Income 2017: -$93,5752017Revenue 2018: $1,462,581Expenses 2018: $2,494,716Net Income 2018: -$1,032,1352018Revenue 2020: $3,631,115Expenses 2020: $3,598,333Net Income 2020: $32,7822020Revenue 2021: $5,371,641Expenses 2021: $5,435,621Net Income 2021: -$63,9802021Revenue 2022: $8,443,166Expenses 2022: $8,825,790Net Income 2022: -$382,6242022Revenue 2023: $10,421,044Expenses 2023: $11,826,807Net Income 2023: -$1,405,7632023Revenue 2024: $10,250,324Expenses 2024: $11,637,446Net Income 2024: -$1,387,1222024

Highlighted filing

2018

Revenue$1,462,581
Expenses$2,494,716
Net Income-$1,032,135
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 24, 2019
Return Version
2017v2.2
Gross Receipts
$1,462,581
Mission and Program Overview

Mission

Vega Collegiate Academy is designed with an extended school day and a slightly longer school year focusing on developing strong skills in literacy and math. It executes an academically rigorous curriculum aligned with common core standards where support is immediately provided to students needing assistance acceleration or who have individual learning needs.

Designed with an extended school day and a slightly longer school year, and with a focus on developing strong skills in literacy and math, Vega Collegiate Academy Charter Schoolexecutesan academically rigorous curriculum that pushes students to engage deeply with text and tothink critically about their learning in every content area. Every instructional minute, students work tomaster ambitious, Common Core aligned standards. Every assessment is informed by rigorous nationaland state standards and well-respected national reading requirements. Support is immediately providedto students who demonstrate the need for additional assistance, further acceleration, or have individuallearning needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$223,698--
Cash and Non-Interest-Bearing Accounts$233,506$140,349▼ $93,157
Pledges and Grants Receivable$152,986$108,729▼ $44,257
Land, Buildings, and Equipment, Net-$39,878-
Accounts Receivable-$11,717-
Prepaid Expenses and Deferred Charges-$8,388-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$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-$0-
Rtn Earn Endowment Incm Other Fnds$-93,575$-869,408▼ $775,833
Total Assets$386,492$3,320,155▲ $2,933,663
Other Assets Total-$3,011,094-
Liabilities
Other Liabilities$4,632$4,167,986▲ $4,163,354
Deferred Revenue$229,925--
Accounts Payable and Accrued Expenses$21,812$21,577▼ $235
Total Liabilities$256,369$4,189,563▲ $3,933,194
Net Assets / Fund Balance
Total Net Assets Fund Balance$130,123$-869,408▼ $999,531
Total Liabilities and Net Assets / Fund Balance$386,492$3,320,155▲ $2,933,663

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$33,868$15,539$49,407
Equipment$6,010$2,757$8,767
Other Assets Org$25,001--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathryn MullinsExecutive DirectorFT$60,000$10,291$70,291

Board Members and Trustees

NameTitle
Mark MarshallChairman
Ryan CobbinsVice Chair
Alana WienermanBoard Secretary
Ann CollierDirector
Charlette FlemingDirector
Cynden AmroseDirector
John BalesDirector
Kathleen McBrideDirector
Miguel LovatoDirector
Pamela SmithDirector
Tarik WalkerDirector
Victor AmayaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$775,914
Program Service Revenue
$684,428
Investment Income
$2,239
Other Revenue
$0
All Other Contributions
$502,060
Change in Net Assets
$-1,032,135
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,777,451
Salaries, Compensation, and Employee Benefits$717,265
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$341,868$131,914-$473,782
Current Officers, Directors, Trustees, and Key Employees-$104,265-$104,265
Occupancy$50,000$49,562-$99,562
Fees for Services Other$799$97,716-$98,515
Pension Plan Contributions$67,105$26,612-$93,717
Travel-$70,901-$70,901
Office Expenses$6,772$56,701-$63,473
Other Employee Benefits$23,536$12,601-$36,137
All Other Expenses$10,298$11,232-$21,530
Depreciation Depletion-$18,296-$18,296
Information Technology-$16,964-$16,964
Other Expenses$46,500$16,621-$16,621
Fees for Services Legal-$14,274-$14,274
Payroll Taxes$6,222$3,142-$9,364
Insurance-$9,266-$9,266
Advertising-$5,785-$5,785
Total Functional Expenses$1,362,698$1,132,018$0$2,494,716
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
Net Pension Liability$3,850,998
Deferred Inflows - Pension$227,576
Net OPEB Liability$87,941
Deferred Inflows - OPEB$1,471
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
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, Part VI, Line 11B: Form 990 Review Process

A draft of form 990 and supporting schedules will be submitted to the board for review prior to filing.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board of directors performed a salary analysis of similar schools in the same district and compensation was set according to the review.

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

In the office of the organization

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

In the office of the organization

Filing and Contact Details

Filer

Filer Name
Laurus Collegiate Inc
EIN
47-2103502
Phone
3038286217
Address
1345 Macon Street, Aurora, CO 80010

Signing Officer

Name
Kathryn Mullins
Title
Executive Director
Signed
2019-04-24
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Co
Voting Board Members
12
Independent Board Members
12
Employees
15
Volunteers
20

Preparer

Firm
Hinkle & Company Pc
Address
5028 East 101st St, Tulsa, OK 74137
Preparer
James D Hinkle
Phone
9184923388
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

Pension Related Adjustment = $32604

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IRS990/MissionDesc0Designed with an extended school day and a slightly longer school year, and with a focus on developing strong skills in literacy and math, Vega Collegiate Academy Charter Schoolexecutesan academically rigorous curriculum that pushes students to engage deeply with text and tothink critically about their learning in every content area. Every instructional minute, students work tomaster ambitious, Common Core aligned standards. Every assessment is informed by rigorous nationaland state standards and well-respected national reading requirements. Support is immediately providedto students who demonstrate the need for additional assistance, further acceleration, or have individuallearning needs.
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