Civic Intelligence

Scholarship Prep

990 • Fiscal year 2017 • EIN 47-3943780

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

Organization ProfileSCHOLARSHIPSCHOOLS.ORG
1010 W 17th StreetSanta Ana, CA 92706

(714) 795-3498

Siviq Scores

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

Liabilities / Assets

76th percentile

0.41x

Higher debt load relative to assets than 76% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

57th percentile

0.14x

Higher debt load relative to revenue than 57% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

77th percentile

19%

Higher net margin than 77% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

63rd percentile

$87,525

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Balance Sheet
Liabilities / Assets76th percentile

Assets

$1,436,535

No earlier filing loaded for comparison.

Net Assets

$848,285

No earlier filing loaded for comparison.

Liabilities

$588,250

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin77th percentile

Revenue

$4,264,994

No earlier filing loaded for comparison.

Expenses

$3,440,197

No earlier filing loaded for comparison.

Net Income

$824,797

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$80M$60M$40M$20M$0Assets 2017: $1,436,535Liabilities 2017: $588,250Net Assets 2017: $848,2852017Assets 2018: $2,696,776Liabilities 2018: $764,168Net Assets 2018: $1,932,6082018Assets 2019: $3,494,683Liabilities 2019: $890,454Net Assets 2019: $2,604,2292019Assets 2020: $5,208,729Liabilities 2020: $3,066,066Net Assets 2020: $2,142,6632020Assets 2021: $27,254,087Liabilities 2021: $20,434,838Net Assets 2021: $6,819,2492021Assets 2022: $31,495,275Liabilities 2022: $22,804,716Net Assets 2022: $8,690,5592022Assets 2023: $63,059,972Liabilities 2023: $52,596,844Net Assets 2023: $10,463,1282023Assets 2024: $62,743,534Liabilities 2024: $50,599,329Net Assets 2024: $12,144,2052024

Highlighted filing

2017

Assets$1,436,535
Liabilities$588,250
Net Assets$848,285
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$40M$30M$20M$10M$0-$10MRevenue 2017: $4,264,994Expenses 2017: $3,440,197Net Income 2017: $824,7972017Revenue 2018: $7,490,316Expenses 2018: $6,405,993Net Income 2018: $1,084,3232018Revenue 2019: $9,260,458Expenses 2019: $8,588,837Net Income 2019: $671,6212019Revenue 2020: $14,963,960Expenses 2020: $15,425,526Net Income 2020: -$461,5662020Revenue 2021: $19,294,773Expenses 2021: $14,618,187Net Income 2021: $4,676,5862021Revenue 2022: $21,948,648Expenses 2022: $20,077,338Net Income 2022: $1,871,3102022Revenue 2023: $31,429,654Expenses 2023: $29,657,085Net Income 2023: $1,772,5692023Revenue 2024: $36,138,803Expenses 2024: $34,457,726Net Income 2024: $1,681,0772024

Highlighted filing

2017

Revenue$4,264,994
Expenses$3,440,197
Net Income$824,797
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$4,264,994
Mission and Program Overview

Mission

To provide a university-inspired pathway of success while closing the achievement gap for all students, including foster youth and those undeserved.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$0$665,711▲ $665,711
Savings and Temporary Cash Investments-$284,237-
Land, Buildings, and Equipment, Net$0$256,205▲ $256,205
Prepaid Expenses and Deferred Charges$0$124,837▲ $124,837
Cash and Non-Interest-Bearing Accounts$0$105,545▲ $105,545
Total Assets$0$1,436,535▲ $1,436,535
Liabilities
Unsecured Notes Loans Payable-$400,000-
Accounts Payable and Accrued Expenses$0$188,250▲ $188,250
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Total Liabilities$0$588,250▲ $588,250
Net Assets / Fund Balance
Unrestricted Net Assets-$848,285-
Total Net Assets Fund Balance$0$848,285▲ $848,285
Total Liabilities and Net Assets / Fund Balance$0$1,436,535▲ $1,436,535

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$204,241$30,984$235,225
Buildings$51,964$5,013$56,977
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gloria RomeroCo-founder & Executive DirectorFT$85,425$2,100$87,525
Jason WattsCo-founder & Chief Operating OfficerFT$85,425$2,100$87,525

Board Members and Trustees

NameTitle
Dr Charles FriedrichsPresident
Angie CanoBoard Member
Laura FergusonBoard Member
Jose TolentinoSecretary
Rand SperryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,059,163
Program Service Revenue
$6,647
Investment Income
$766
Other Revenue
$198,418
Change in Net Assets
$824,797

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,264,994
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,264,994
Total Revenue per Form 990
$4,264,994
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,929,797
Other Expenses$1,510,400
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$913,255$283,554-$1,196,809
Occupancy$459,240$81,042-$540,282
Office Expenses$277,302$38,724-$316,026
Current Officers, Directors, Trustees, and Key Employees$231,938$57,712-$289,650
Other Employee Benefits$176,398$44,099-$220,497
Pension Plan Contributions$137,279$34,320-$171,599
Fees for Services Management$134,524$23,739-$158,263
Fees for Services Other$130,436$23,018-$153,454
Payroll Taxes$40,994$10,248-$51,242
Information Technology$48,251--$48,251
Depreciation Depletion-$35,997-$35,997
Interest-$35,358-$35,358
Insurance$26,892--$26,892
All Other Expenses$17,857--$17,857
Fees for Services Legal$1,996$11,311-$13,307
Travel$11,191--$11,191
Advertising$9,527--$9,527
Other Expenses$3,365$4,632-$7,997
Fees for Services Accounting$300$1,700-$2,000
Total Functional Expenses$2,754,743$685,454$0$3,440,197

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,440,197
Total Expenses per Audited Statements$3,440,197
Total Expenses per Form 990$3,440,197
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
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
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, Section B, Line 11B

“Management of the school and the board review the form 990 at a regularly scheduled meeting before it is filed.”

Form 990, Part VI, Section B, Line 15

“Comparability data was compiled internally and presented to the board with the assistance of dms. Dms provided background on the comparability of these salaries with other, similar executives in the industry.”

Form 990, Part VI, Section C, Line 19

“We ensure our board is not engaged in any conflicts of interest through the board selection process and ongoing monitoring. This occurs through frequent communication with the board and careful analysis of contracts and vendors.”

Filing and Contact Details

Filer

Filer Name
Scholarship Prep
EIN
47-3943780
Phone
7147953498
Address
1010 W 17TH STREET, SANTA ANA, CA 92706

Signing Officer

Name
Jason Watts
Title
Co-founder & Chief Operating Office
Phone
7147953498
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Watts
Formed
2015
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
35
Volunteers
5

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Derrick De Bruyne
Phone
6268577300
Supplemental Narrative

Additional Explanations

Part XII, Ln 2C

“This is the intital tax return.”

Financial Statement Notes

PART X, LINE 2:

“The school 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.”

Raw XML Appendix400 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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IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03440197
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04264994
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0256205
IRS990ScheduleD/TotalExpensesPerForm990Amt03440197
IRS990ScheduleD/TotalRevenuePerForm990Amt04264994
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04264994
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03440197
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0WE HAVE A STATEMENT ON OUR WEBSITE IN THE SCHOOL'S ENROLLMENT PAGE
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1AS A PUBLIC CHARTER SCHOOL, THE ORGANIZATION RECEIVES FEDERAL AND STATE FUNDING PASSED THROUGH THE CALIFORNIA DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT OF THE SCHOOL AND THE BOARD REVIEW THE FORM 990 AT A REGULARLY SCHEDULED MEETING BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPARABILITY DATA WAS COMPILED INTERNALLY AND PRESENTED TO THE BOARD WITH THE ASSISTANCE OF DMS. DMS PROVIDED BACKGROUND ON THE COMPARABILITY OF THESE SALARIES WITH OTHER, SIMILAR EXECUTIVES IN THE INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WE ENSURE OUR BOARD IS NOT ENGAGED IN ANY CONFLICTS OF INTEREST THROUGH THE BOARD SELECTION PROCESS AND ONGOING MONITORING. THIS OCCURS THROUGH FREQUENT COMMUNICATION WITH THE BOARD AND CAREFUL ANALYSIS OF CONTRACTS AND VENDORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THIS IS THE INTITAL TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LN 2C
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt01436535
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt01436535
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt04059163
IRS990/TotalEmployeeCnt035
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0685454
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02754743
IRS990/TotalFunctionalExpensesGrp/TotalAmt03440197
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0588250
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0588250
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0848285
IRS990/TotalOtherCompensationAmt04200
IRS990/TotalProgramServiceExpensesAmt02754743
IRS990/TotalProgramServiceRevenueAmt06647
IRS990/TotalReportableCompFromOrgAmt0170850
IRS990/TotalRevenueGrp/ExclusionAmt0148366
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt057465
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04264994
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01436535
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt011191
IRS990/TravelGrp/TotalAmt011191
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0848285
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0400000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01010 W 17TH STREET
IRS990/USAddress/CityNm0SANTA ANA
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd092706
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HTTPS://SCHOLARSHIPSCHOOLS.ORG/
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JASON WATTS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CO-FOUNDER & CHIEF OPERATING OFFICE
ReturnHeader/BusinessOfficerGrp/PhoneNum07147953498
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SCHOLARSHIP PREP
ReturnHeader/Filer/BusinessNameControlTxt0SCHO
ReturnHeader/Filer/EIN0473943780
ReturnHeader/Filer/PhoneNum07147953498
ReturnHeader/Filer/USAddress/AddressLine1Txt01010 W 17TH STREET
ReturnHeader/Filer/USAddress/CityNm0SANTA ANA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092706
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FE681536BB282677551256C729262022EF538507
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId05A65CD9633B9893027C6E3213EC47A09EAD2B52F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.137.57.251
ReturnHeader/FilingSecurityInformation/IPDt02018-05-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm014:41:22
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02210 EAST ROUTE 66
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLENDORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091740
ReturnHeader/PreparerPersonGrp/PhoneNum06268577300
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DERRICK DE BRUYNE
ReturnHeader/ReturnTs02018-05-15T15:29:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,436,535
Liabilities
$588,250
Net assets
$848,285
Revenue
$4,264,994
Expenses
$3,440,197
Net income
$824,797
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$62.7$50.6$12.1$36.1$34.5$1.68
2023Detailed filing. Detailed filing data is available for this year.$63.1$52.6$10.5$31.4$29.7$1.77
2022Detailed filing. Detailed filing data is available for this year.$31.5$22.8$8.69$21.9$20.1$1.87
2021Detailed filing. Detailed filing data is available for this year.$27.3$20.4$6.82$19.3$14.6$4.68
2020Detailed filing. Detailed filing data is available for this year.$5.21$3.07$2.14$15.0$15.4$0.46
2019Detailed filing. Detailed filing data is available for this year.$3.49$0.89$2.60$9.26$8.59$0.67
2018Detailed filing. Detailed filing data is available for this year.$2.70$0.76$1.93$7.49$6.41$1.08
2017Detailed filing. Detailed filing data is available for this year.$1.44$0.59$0.85$4.26$3.44$0.82