Civic Intelligence

Sage Oak Charter School

990 • Fiscal year 2022 • EIN 47-4121914

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 21, 2023

1473 Ford Street 105Redlands, CA 92373

(888) 435-4445

Siviq Scores

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

Liabilities / Assets

50th percentile

0.21x

Higher debt load relative to assets than 50% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

24th percentile

0.10x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

66th percentile

14%

Higher net margin than 66% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

40th percentile

$216,997

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Asset Growth

85th percentile

26%

Faster asset growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

83rd percentile

36%

Faster revenue growth than 83% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Assets

Up

$21,279,749

Up $4,404,184 (+26%) from 2021

Net Assets

Up

$16,723,292

Up $6,446,447 (+63%) from 2021

Liabilities

Down

$4,556,457

Down $2,042,263 (-31%) from 2021

Revenue

Up

$45,185,778

Up $12,022,661 (+36%) from 2021

Expenses

Up

$38,739,331

Up $7,718,276 (+25%) from 2021

Net Income

Up

$6,446,447

Up $4,304,385 (+201%) from 2021

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2016: $2,376,602Liabilities 2016: $2,188,823Net Assets 2016: $187,7792016Assets 2017: $2,265,360Liabilities 2017: $1,096,951Net Assets 2017: $1,168,4092017Assets 2018: $5,410,784Liabilities 2018: $3,538,177Net Assets 2018: $1,872,6072018Assets 2019: $12,371,328Liabilities 2019: $7,592,603Net Assets 2019: $4,778,7252019Assets 2020: $21,473,103Liabilities 2020: $13,365,347Net Assets 2020: $8,107,7562020Assets 2021: $16,875,565Liabilities 2021: $6,598,720Net Assets 2021: $10,276,8452021Assets 2022: $21,279,749Liabilities 2022: $4,556,457Net Assets 2022: $16,723,2922022Assets 2023: $28,696,018Liabilities 2023: $9,735,108Net Assets 2023: $18,960,9102023Assets 2024: $34,497,956Liabilities 2024: $9,916,871Net Assets 2024: $24,581,0852024Assets 2025: $37,560,642Liabilities 2025: $11,529,428Net Assets 2025: $26,031,2142025

Highlighted filing

2022

Assets$21,279,749
Liabilities$4,556,457
Net Assets$16,723,292

Operations Trend

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

$80M$60M$40M$20M$0Revenue 2016: $8,364,766Expenses 2016: $8,176,987Net Income 2016: $187,7792016Revenue 2017: $13,121,601Expenses 2017: $12,140,971Net Income 2017: $980,6302017Revenue 2018: $19,616,773Expenses 2018: $18,912,575Net Income 2018: $704,1982018Revenue 2019: $37,656,084Expenses 2019: $34,749,966Net Income 2019: $2,906,1182019Revenue 2020: $35,383,876Expenses 2020: $31,938,640Net Income 2020: $3,445,2362020Revenue 2021: $33,163,117Expenses 2021: $31,021,055Net Income 2021: $2,142,0622021Revenue 2022: $45,185,778Expenses 2022: $38,739,331Net Income 2022: $6,446,4472022Revenue 2023: $48,361,742Expenses 2023: $46,124,124Net Income 2023: $2,237,6182023Revenue 2024: $58,380,596Expenses 2024: $52,760,421Net Income 2024: $5,620,1752024Revenue 2025: $69,124,716Expenses 2025: $67,674,587Net Income 2025: $1,450,1292025

Highlighted filing

2022

Revenue$45,185,778
Expenses$38,739,331
Net Income$6,446,447
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 21, 2023
Return Version
2021v4.2
Gross Receipts
$45,185,778
Mission and Program Overview

Mission

The school, in collaboration with parents, teachers, students, and the school's leadership team, cultivates life long learners by recognizing students and parents' needs for educational options. The school balances flexibility with accountability and high academic excellence for families seeking a non-traditional, personalized educational experience. The school understands the need for partnership in order for students to attain their personal academic goals.

The corporation operates tuition free charter school programs where teachers and parents partner together.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,720,244$8,610,558▲ $6,890,314
Accounts Receivable$15,045,596$7,406,308▼ $7,639,288
Savings and Temporary Cash Investments$0$5,072,332▲ $5,072,332
Prepaid Expenses and Deferred Charges$109,725$138,131▲ $28,406
Land, Buildings, and Equipment, Net$0$52,420▲ $52,420
Total Assets$16,875,565$21,279,749▲ $4,404,184
Liabilities
Deferred Revenue$1,088,691$2,551,542▲ $1,462,851
Accounts Payable and Accrued Expenses$2,125,545$1,847,876▼ $277,669
Unsecured Notes Loans Payable$3,384,484$124,996▼ $3,259,488
Other Liabilities$0$32,043▲ $32,043
Total Liabilities$6,598,720$4,556,457▼ $2,042,263
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,276,845$16,723,292▲ $6,446,447
Total Net Assets Fund Balance$10,276,845$16,723,292▲ $6,446,447
Total Liabilities and Net Assets / Fund Balance$16,875,565$21,279,749▲ $4,404,184

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$52,420-$52,420
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Krista WoodgriftCEO/superintendentFT$174,339$42,658$216,997
Erin BunchDirector of Student Svcs and LacFT$146,340$38,207$184,547
Candice CoffeyDirector of Human Resources and LacFT$143,254$37,701$180,955
Jamee BlockDirector of Education Svcs and LacFT$135,051$37,210$172,261
Lisa ThompsonDirector of Ops and AccountabilityFT$132,147$36,859$169,006
Kameron SoloDirector of Special EducationFT$139,987$24,613$164,600
Michael HumphreyVice PresidentPT$6,000-$6,000
William HallBoard PresidentPT$6,000-$6,000
Pete MatzMember-$6,000-$6,000
Steve FraireClerk-$6,000-$6,000
Susan HouleMember-$6,000-$6,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Moving Beyond The PageEducation17801 STATE HWY 6, College Station, TX 77845$134,453
Revenue and Support

Revenue Composition

Contributions and Grants
$45,105,652
Program Service Revenue
$0
Investment Income
$12,617
Other Revenue
$67,509
Change in Net Assets
$6,446,447

Audited Revenue Reconciliation

Revenue per Audited Statements
$45,185,778
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$45,185,778
Total Revenue per Form 990
$45,185,778
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$25,332,370
Other Expenses$13,406,961
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$16,987,882$2,391,715-$19,379,597
Fees for Services Other$2,258,374$3,018,584-$5,276,958
Pension Plan Contributions$1,912,286$822,428-$2,734,714
Other Employee Benefits$1,715,670$762,301-$2,477,971
Fees for Services Management$1,033,940--$1,033,940
Travel$618,321--$618,321
Information Technology$458,938$54,246-$513,184
Payroll Taxes$345,970$147,090-$493,060
Other Expenses$411,481--$411,481
Office Expenses$49,187$270,274-$319,461
Current Officers, Directors, Trustees, and Key Employees$247,028--$247,028
Occupancy$197,926--$197,926
Fees for Services Legal$188,862--$188,862
Insurance$100,830--$100,830
Fees for Services Accounting$64,607--$64,607
Advertising$11,906--$11,906
Interest-$3,580-$3,580
Total Functional Expenses$31,269,113$7,470,218$0$38,739,331

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$38,739,331
Total Expenses per Audited Statements$38,739,331
Total Expenses per Form 990$38,739,331
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$32,043
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
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 A, Line 8B

There are no committees that can act on behalf of the board.

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

The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.

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

Monitoring is performed regularly by the officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and ceo/superintendent. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters.

Form 990, Part VI, Section B, Line 15

The ceo/superintendent's pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the ceo's compensation as a direct action. The officers and key employees' pay is determine based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the officers and key employees' compensation as a direct action.

Form 990, Part VI, Section C, Line 19

The documents are readily available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Sage Oak Charter School
EIN
47-4121914
Phone
8884354445
Address
1473 FORD STREET 105, REDLANDS, CA 92373

Signing Officer

Name
Krista Woodgrift
Title
CEO/superintendent
Phone
8884354445
Signed
2023-04-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Krista Woodgrift
Formed
2015
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
333
Volunteers
0

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Mei-li Huang
Phone
6268577300
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Instructional fees: program service expenses 1,831,329. Management and general expenses 2,447,787. Fundraising expenses 0. Total expenses 4,279,116. Other fees for services: program service expenses 427,045. Management and general expenses 570,797. Fundraising expenses 0. Total expenses 997,842.

FORM 990, PART XII, LINE 2C:

Process did not change from prior year.

Financial Statement Notes

PART X, LINE 2:

The school is a nonprofit corporation 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. The school is subject to income tax on net income that is derived from business activities that are unrelated to the exempt purposes. The school files and exempt school return and applicable unrelated business income tax return in the u.s. Federal jurisdiction and with the california franchise tax board.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR OF SPECIAL EDUCATION
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IRS990/MissionDesc0THE SCHOOL, IN COLLABORATION WITH PARENTS, TEACHERS, STUDENTS, AND THE SCHOOL'S LEADERSHIP TEAM, CULTIVATES LIFE LONG LEARNERS BY RECOGNIZING STUDENTS AND PARENTS' NEEDS FOR EDUCATIONAL OPTIONS. THE SCHOOL BALANCES FLEXIBILITY WITH ACCOUNTABILITY AND HIGH ACADEMIC EXCELLENCE FOR FAMILIES SEEKING A NON-TRADITIONAL, PERSONALIZED EDUCATIONAL EXPERIENCE. THE SCHOOL UNDERSTANDS THE NEED FOR PARTNERSHIP IN ORDER FOR STUDENTS TO ATTAIN THEIR PERSONAL ACADEMIC GOALS.
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IRS990/OtherExpensesGrp/Desc0INSTRUCTIONAL MATERIALS
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IRS990/PrincipalOfficerNm0KRISTA WOODGRIFT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS A NONPROFIT CORPORATION 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. THE SCHOOL IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THE EXEMPT PURPOSES. THE SCHOOL FILES AND EXEMPT SCHOOL RETURN AND APPLICABLE UNRELATED BUSINESS INCOME TAX RETURN IN THE U.S. FEDERAL JURISDICTION AND WITH THE CALIFORNIA FRANCHISE TAX BOARD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
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IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL PUBLICIZES ITS POLICY IN ITS REGISTRATION MATERIALS AND DOCUMENTS USED TO SOLICIT STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL IS A PUBLIC CHARTER SCHOOL PRINCIPALLY FUNDED BY CALIFORNIA AND FEDERAL MONIES RECEIVED THROUGH THE CALIFORNIA DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
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