Liabilities / Assets
96th percentile
Higher debt load relative to assets than 96% of similar nonprofits.
Legacy Traditional School-North Chandler
990 • Fiscal year 2018 • EIN 47-2240777
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.20x
Liabilities / Revenue
92nd percentile
Higher debt load relative to revenue than 92% of similar nonprofits.
Net Margin
9th percentile
Higher net margin than 9% of similar nonprofits.
Top Officer Pay
12th percentile
Higher top officer pay than 12% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
29th percentile
Faster asset growth than 29% of similar nonprofits.
Revenue Growth
88th percentile
Faster revenue growth than 88% of similar nonprofits.
Balance Sheet
Assets
Down$15,905,291
Down $435,006 (-2.7%) from 2017
Net Assets
Down-$3,249,305
Down $1,288,054 (-66%) from 2017
Liabilities
Up$19,154,596
Up $853,048 (+4.7%) from 2017
Revenue And Expenses
Revenue
Up$4,844,624
Up $1,565,008 (+48%) from 2017
Expenses
Up$6,132,678
Up $1,271,258 (+26%) from 2017
Net Income
Up-$1,288,054
Up $293,750 (+19%) from 2017
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2017 to Jun 30, 2018
- Signed
- Apr 8, 2019
- Return Version
- 2017v2.3
- Gross Receipts
- $4,844,624
Mission and Program Overview
Mission
To provide motivated students with the opportunity to achieve academic excellence in an accelerated, back-to-basics, safe learning environment taught by caring, knowledgeable, and highly effective educators in cooperation with supportive, involved parents.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $13,353,719 | $12,853,592 | ▼ $500,127 |
| Savings and Temporary Cash Investments | $2,446,087 | $2,430,509 | ▼ $15,578 |
| Cash and Non-Interest-Bearing Accounts | $511,965 | $510,241 | ▼ $1,724 |
| Loans From Officers Directors | $349,798 | $307,640 | ▼ $42,158 |
| Accounts Receivable | $27,326 | $71,744 | ▲ $44,418 |
| Prepaid Expenses and Deferred Charges | - | $38,005 | - |
| Total Assets | $16,340,297 | $15,905,291 | ▼ $435,006 |
| Other Assets Total | $1,200 | $1,200 | → $0 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $17,196,737 | $17,186,906 | ▼ $9,831 |
| Other Liabilities | $0 | $896,165 | ▲ $896,165 |
| Accounts Payable and Accrued Expenses | $752,812 | $745,636 | ▼ $7,176 |
| Deferred Revenue | $2,201 | $18,249 | ▲ $16,048 |
| Total Liabilities | $18,301,548 | $19,154,596 | ▲ $853,048 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $-1,961,251 | $-3,249,305 | ▼ $1,288,054 |
| Total Net Assets Fund Balance | $-1,961,251 | $-3,249,305 | ▼ $1,288,054 |
| Total Liabilities and Net Assets / Fund Balance | $16,340,297 | $15,905,291 | ▼ $435,006 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $9,488,505 | $490,501 | $9,979,006 |
| Land | $2,042,000 | - | $2,042,000 |
| Other Land Buildings | $1,201,971 | $399,855 | $1,601,826 |
| Equipment | $67,217 | $115,020 | $182,237 |
| Leasehold Improvements | $53,899 | $10,017 | $63,916 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Nathan Schlink | President |
| Cory Theobald | Director |
| Derek Samuel | Director |
| Diego Gettler | Director |
| Heather Jones | Director |
| Brandon Jones | CEO |
| Jenni Ferrin | Secretary |
| Aaron Hale | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Vertex Education LLC | Management Services | 3125 S GILBERT ROAD, Chandler, AZ 85286 | $591,899 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $4,234,302
- Program Service Revenue
- $454,760
- Investment Income
- $22,276
- Other Revenue
- $133,286
- All Other Contributions
- $17,729
- Change in Net Assets
- $-1,288,054
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $4,844,624
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $0
- Total Revenue per Audited Statements
- $4,844,624
- Total Revenue per Form 990
- $4,844,624
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $3,190,312 |
| Other Expenses | $2,942,366 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $2,567,055 | $136,669 | - | $2,703,724 |
| Interest | $777,311 | $86,369 | - | $863,680 |
| Fees for Services Management | $140,574 | $562,298 | - | $702,872 |
| Depreciation Depletion | $482,501 | $54,704 | - | $537,205 |
| Office Expenses | $234,277 | $18,238 | - | $252,515 |
| Payroll Taxes | $217,104 | $11,427 | - | $228,531 |
| Other Employee Benefits | $205,154 | $12,903 | - | $218,057 |
| Fees for Services Other | $186,074 | - | - | $186,074 |
| Occupancy | $128,387 | $32,097 | - | $160,484 |
| Advertising | - | $73,549 | - | $73,549 |
| Pension Plan Contributions | $40,000 | - | - | $40,000 |
| Information Technology | $37,245 | $1,229 | - | $38,474 |
| Fees for Services Accounting | - | $23,824 | - | $23,824 |
| Insurance | $17,842 | $4,460 | - | $22,302 |
| All Other Expenses | $18,052 | $2,400 | - | $20,452 |
| Other Expenses | $2,333 | $2,628 | - | $2,333 |
| Travel | $88 | $15 | - | $103 |
| Total Functional Expenses | $5,105,141 | $1,027,537 | $0 | $6,132,678 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $6,132,678 |
| Total Expenses per Audited Statements | $6,132,678 |
| Total Expenses per Form 990 | $6,132,678 |
| 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 Item | Amount |
|---|---|
| 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 Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| - | 100% CONTROLLED ENTITIY OF ONE CURRENT OFFICER AND ONE FORMER OFFICER | Management Fees | No | $702,872 |
| - | 100% CONTROLLED ENTITIY OF ONE CURRENT OFFICER AND ONE FORMER OFFICER | Program Development, Branding, Marketing, Enrollment Tracking, Personnel Training and Supervision, Invoicing, and Collection Services Related to the Lkc Before and After School Programs | No | $21,718 |
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $349,798 | $307,640 | ▼ $42,158 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Due to Related Party | $896,165 |
Bond Issues
| Bond | Issuer | Issued | Issue Price | Purpose |
|---|---|---|---|---|
| A | The Industrial Development Authority of the City of Phoenix Arizona | 2016-11-16 | $17,298,654 | FINANCING CHARTER SCHOOL |
Bond Proceeds
| Bond | Total Proceeds | Spent | Retired | Issuance Costs |
|---|---|---|---|---|
| A | $17,298,654 | $15,282,000 | - | $339,070 |
Bond Financing Compliance
- No rebate due
- No
- Rebate not yet due
- Yes
- Form 8038-T filed
- No
- Gross proceeds invested
- No
- Gross proceeds invested in GIC
- No
- Exception to rebate
- 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
- No
- 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
- Yes
Governance Explanations
Form 990, Part VI, Section A, Line 2
“Nathan schlink, the organization's president, and cory theobald, director, have a family relationship with the organization's treasurer, aaron hale. Aaron hale, treasurer, and brandon jones, ceo, have a business relationship.”
Form 990, Part VI, Section A, Line 3
“The school has a management services agreement with vertex education, llc. In accordance with the management service agreement, vertex education, llc provides assistance with the operations and management of the school in the areas of school development, financial services, human resources, information systems, facilities management and food services. The school also had an agreement with cfe management group for program development, branding, marketing, enrollment tracking, personnel training and supervision, invoicing, and collection services related to the lkc before and after school programs.”
Form 990, Part VI, Section A, Line 8B
“The organization does not have any committee with authority to act on behalf of the governing body.”
Form 990, Part VI, Section B, Line 11B
“The form 990 is emailed to each of the organization's governing board members for review prior to being filed.”
Form 990, Part VI, Section B, Line 12C
“Each officer, director, trustee, or key employee must annually sign a statement that affirms that such person has received a copy of the conflict of interest policy, has read and understands the policy and has agreed to comply with the policy. If any person who is a director or officer is aware that the organization is about to enter into any business transaction directly or indirectly with such person, any member of that person's family, or any entity in which that person has any legal, equitable or fiduciary interest or position, such person shall (a) immediately inform those charged with approving the transaction on behalf of the organization of such person's interest or position, (b) aid the persons charged with making the decision by disclosing any material facts within such person's knowledge that bear on the advisability of such transaction from the standpoint of the organization, and (c) not be entitled to vote on the decision to enter into such transaction. A copy of the conflict of interest policy will be maintained in the corporate records, and the board will review that policy on an annual basis.”
Form 990, Part VI, Section C, Line 19
“Certain of the organization's governing documents are available to the public through websites of state government agencies, the organization considers specific requests for its governing documents, conflict of interest policy, and financial statements on a case-by-case basis.”
FORM 990, PART VI, SECTION C, LINE 17:
“Educational organizations exempt under ars section 43-1201(4) are not required to file a copy of their federal form 990 with the state of arizona.”
Filing and Contact Details
Filer
- Filer Name
- Legacy Traditional School
- EIN
- 47-2240777
- Phone
- 4802705438
- Address
- 3125 S GILBERT ROAD, CHANDLER, AZ 85286
Signing Officer
- Name
- Nathan Schlink
- Title
- President
- Phone
- 4802705438
- Signed
- 2019-04-08
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Nathan Schlink
- Formed
- 2015
- Legal Domicile
- Az
- Voting Board Members
- 6
- Independent Board Members
- 6
- Employees
- 87
- Volunteers
- 618
Preparer
- Firm
- Schmidt Westergard & Company Pllc
- Address
- 77 WEST UNIVERSITY DRIVE, MESA, AZ 85201-5830
- Preparer
- Kelly M White
- Phone
- 4808346030
Supplemental Narrative
Additional Explanations
FORM 990, PART XII, LINE 2C:
“No changes have been made to the oversight process or the selection process from the prior year.”
Financial Statement Notes
PART X, LINE 2:
“The school is exempt from federal and state income taxes under section 501(c)(3) of the internal revenue code (the "irc") and similar arizona provisions. In addition, the school has been classified as an organization other than a private foundation under section 509(a)(1) of the irc. However, income from certain activities not directly related to the school's tax-exempt purpose may be subject to taxation as unrelated business income. There is no provision for income taxes in the accompanying financial statements because there is no significant unrelated business income. The school follows the guidance issued by the financial accounting standards board ("fasb") related to accounting for income tax uncertainties. Under this guidance, the school accounts for the effect of any uncertain tax positions based on whether it is "more-likely-than-not" that the position will be sustained by the taxing authority upon examination. The school routinely evaluates potential uncertain tax positions. The school has identified its status as an exempt organization as a tax position; however, the school has determined that such tax position does not result in an uncertainty that requires recognition. The school files an informational tax return in the u.s. Federal jurisdiction. As of june 30, 2018, u.s. Federal informational tax returns for the period from inception (september 24, 2014) to june 30, 2015 and after are open to assessment. There were no amounts of accrued interest or penalties as of june 30, 2018.”
Raw XML AppendixShowing 400 of 755 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 71744 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | TO PROVIDE MOTIVATED STUDENTS WITH THE OPPORTUNITY TO ACHIEVE ACADEMIC EXCELLENCE IN AN ACCELERATED, BACK-TO-BASICS, SAFE LEARNING ENVIRONMENT TAUGHT BY CARING, KNOWLEDGEABLE, AND HIGHLY EFFECTIVE EDUCATORS IN COOPERATION WITH SUPPORTIVE, INVOLVED PARENTS. |
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| IRS990/Desc | 0 | DURING THE CURRENT YEAR, THE ORGANIZATION PROVIDED HIGH QUALITY EDUCATIONAL SERVICES TO APPROXIMATELY 618 STUDENTS IN KINDERGARTEN THROUGH 8TH GRADE AT ITS CAMPUS IN CHANDLER, ARIZONA. THOSE STUDENTS EXPERIENCED A WELL-ROUNDED EDUCATION THAT INCLUDED READING, WRITING, MATHEMATICS, SCIENCE, SOCIAL STUDIES, HISTORY, MUSIC, ART, AND PHYSICAL EDUCATION, AS WELL AS EXTRACURRICULAR ACTIVITIES INCLUDING ATHLETICS, CLUBS, FIELD TRIPS, AND DAILY TUTORING. |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | CEO |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 2015 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 0 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 6 |
| IRS990/GovernmentGrantsAmt | 0 | 4216573 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossReceiptsAmt | 0 | 4844624 |
| IRS990/GrossRentsGrp/RealAmt | 0 | 59500 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 1 |
| IRS990/IndependentVotingMemberCnt | 0 | 6 |
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| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 1229 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 37245 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 38474 |
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| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 17842 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 22302 |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 86369 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 777311 |
| IRS990/InterestGrp/TotalAmt | 0 | 863680 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 22276 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 22276 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestTaxExemptBondsInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 17 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
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| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 13353719 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 12853592 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 13868985 |
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| IRS990/LoansFromOfficersDirectorsGrp/EOYAmt | 0 | 307640 |
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| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 0 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | TO PROVIDE MOTIVATED STUDENTS WITH THE OPPORTUNITY TO ACHIEVE ACADEMIC EXCELLENCE IN AN ACCELERATED, BACK-TO-BASICS, SAFE LEARNING ENVIRONMENT TAUGHT BY CARING, KNOWLEDGEABLE, AND HIGHLY EFFECTIVE EDUCATORS IN COOPERATION WITH SUPPORTIVE, INVOLVED PARENTS. |
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| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
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| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 17186906 |
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| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | -3249305 |
| IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt | 0 | 59500 |
| IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt | 0 | 59500 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NoListedPersonsCompensatedInd | 0 | X |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 32097 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 128387 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 160484 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 18238 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 234277 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 252515 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 1200 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 1200 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
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| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 205154 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 218057 |
| IRS990/OtherExpensesGrp/Desc | 0 | DUES AND FEES |
| IRS990/OtherExpensesGrp/Desc | 1 | FIELD TRIPS |
| IRS990/OtherExpensesGrp/Desc | 2 | TELEPHONE |
| IRS990/OtherExpensesGrp/Desc | 3 | UNIFORMS |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 4727 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 2628 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 26784 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 13844 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 10516 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 2333 |
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| IRS990/OtherExpensesGrp/TotalAmt | 3 | 2333 |
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| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 896165 |
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| IRS990/OtherRevenueMiscGrp/Desc | 0 | MISCELLANEOUS INCOME |
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| IRS990/OtherRevenueTotalAmt | 0 | 73786 |
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| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 2567055 |
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| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 11427 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 217104 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 228531 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 40000 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 40000 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 38005 |
| IRS990/PrincipalOfficerNm | 0 | NATHAN SCHLINK |
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| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 611710 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 611710 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | SCHOOL PROGRAMS |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | LUNCH FEES |
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| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 138346 |
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| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 138346 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 2921416 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 2727 |
| IRS990/PYOtherExpensesAmt | 0 | 2748894 |
| IRS990/PYOtherRevenueAmt | 0 | 71409 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 284064 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -1581804 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 2112526 |
| IRS990/PYTotalExpensesAmt | 0 | 4861420 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 3279616 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -1288054 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 59500 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 588046 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 2446087 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 2430509 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 9488505 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 490501 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 9979006 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 67217 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 115020 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 182237 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 6132678 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 2042000 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 2042000 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 53899 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 10017 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 63916 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 1201971 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 399855 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 1601826 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 896165 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | DUE TO RELATED PARTY |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 4844624 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "IRC") AND SIMILAR ARIZONA PROVISIONS. IN ADDITION, THE SCHOOL HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(1) OF THE IRC. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE SCHOOL'S TAX-EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THERE IS NO PROVISION FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS BECAUSE THERE IS NO SIGNIFICANT UNRELATED BUSINESS INCOME. THE SCHOOL FOLLOWS THE GUIDANCE ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") RELATED TO ACCOUNTING FOR INCOME TAX UNCERTAINTIES. UNDER THIS GUIDANCE, THE SCHOOL ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON WHETHER IT IS "MORE-LIKELY-THAN-NOT" THAT THE POSITION WILL BE SUSTAINED BY THE TAXING AUTHORITY UPON EXAMINATION. THE SCHOOL ROUTINELY EVALUATES POTENTIAL UNCERTAIN TAX POSITIONS. THE SCHOOL HAS IDENTIFIED ITS STATUS AS AN EXEMPT ORGANIZATION AS A TAX POSITION; HOWEVER, THE SCHOOL HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY THAT REQUIRES RECOGNITION. THE SCHOOL FILES AN INFORMATIONAL TAX RETURN IN THE U.S. FEDERAL JURISDICTION. AS OF JUNE 30, 2018, U.S. FEDERAL INFORMATIONAL TAX RETURNS FOR THE PERIOD FROM INCEPTION (SEPTEMBER 24, 2014) TO JUNE 30, 2015 AND AFTER ARE OPEN TO ASSESSMENT. THERE WERE NO AMOUNTS OF ACCRUED INTEREST OR PENALTIES AS OF JUNE 30, 2018. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
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| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 6132678 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 896165 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 4844624 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 4844624 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 6132678 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | 1 |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | 0 |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | 1 |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | 1 |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | 0 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | 1 |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | 0 |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION'S STAFF INFORMS INTERESTED PARENTS AND STUDENTS OF THE RACIALLY NONDISCRIMINATORY POLICY IN THE ENROLLMENT PROCESS. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | THE SCHOOL DOES NOT OFFER SCHOLARSHIPS OR FINANCIAL ASSISTANCE. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 2 | THE SCHOOL RECEIVES REVENUE FROM THE FEDERAL AND STATE GOVERNMENTS FOR EDUCATIONAL PROGRAMS AND FROM THE STATE OF ARIZONA FOR STATE EQUALIZATION ASSISTANCE. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, PART I, LINE 3 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE E, PART I, LINE 4 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | SCHEDULE E, PART I, LINE 6 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd | 0 | 1 |
| IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt | 0 | (A) ISSUER NAME: THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX, ARIZONA |
| IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt | 1 | (E) ISSUE PRICE: UNDER A BOND INDENTURE AND RELATED AGREEMENTS DATED NOVEMBER 16, 2016, THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX, ARIZONA, A GOVERNMENTAL ISSUER, ISSUED EDUCATION FACILITY REVENUE BONDS (LEGACY TRADITIONAL SCHOOLS PROJECT) SERIES 2016A AND LOANED THE PROCEEDS THEREOF TO LEGACY TRADITIONAL SCHOOL - CHANDLER, AS REPRESENTATIVE OF AN OBLIGATED GROUP (DEFINED BELOW), FOR THE PURPOSE OF FINANCING THE COSTS OF ACQUIRING, RENOVATING AND EQUIPPING THE CAMPUS FACILITIES OF NINE MEMBERS OF THE OBLIGATED GROUP, INCLUDING THIS ORGANIZATION. THE MEMBERS OF THE OBLIGATED GROUP ARE JOINTLY AND SEVERALLY LIABLE FOR THE ENTIRE BOND ISSUE. HOWEVER, THE AMOUNT OF THE ISSUE PRICE IN ITEM (E) (AND THE AMOUNTS SHOWN IN PART II) IS THE PORTION ALLOCATED TO FINANCING THE CAMPUS FACILITIES OF THIS ORGANIZATION, AND THE AMOUNT DIFFERS FROM THE TOTAL BOND ISSUE PRICE REPORTED ON FORM 8038-G WHICH WAS THE TOTAL OF THE BOND ISSUE PRICE. EACH OF THE NINE MEMBERS OF THE OBLIGATED GROUP WHOSE CAMPUS FACILITIES WERE FINANCED WITH THE BOND ISSUE IS REPORTING ITS RESPECTIVE ALLOCATED PORTIONS OF THE TOTAL. |
| IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE K, PART I, COLUMN A, ITEM (A): |
| IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE K, PART I, COLUMN A, ITEM (E): |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt | 0 | 2016-11-16 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN | 0 | 522038405 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum | 0 | 71885FFG7 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt | 0 | 17298654 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt | 0 | THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX ARIZONA |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc | 0 | FINANCING CHARTER SCHOOL |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2018 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $15,905,291
- Liabilities
- $19,154,596
- Net assets
- -$3,249,305
- Revenue
- $4,844,624
- Expenses
- $6,132,678
- Net income
- -$1,288,054