Civic Intelligence

Priority Systems Inc

990 • Fiscal year 2018 • EIN 74-2886638

Sep 01, 2017 to Aug 31, 2018 • Filed on Apr 04, 2018

Organization ProfileWWW.PRIORITYCHARTER.ORG
275 Fm 2483Morgans Point Resort, TX 76513

(254) 654-2825

Siviq Scores

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

Liabilities / Assets

61st percentile

0.33x

Higher debt load relative to assets than 61% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

64th percentile

0.42x

Higher debt load relative to revenue than 64% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

20th percentile

-6.4%

Higher net margin than 20% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

42nd percentile

$152,293

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

21st percentile

-4.6%

Faster asset growth than 21% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

67th percentile

11%

Faster revenue growth than 67% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$11,141,806

Down $531,780 (-4.6%) from 2017

Net Assets

Down

$7,520,647

Down $553,469 (-6.9%) from 2017

Liabilities

Up

$3,621,159

Up $21,689 (+0.6%) from 2017

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin20th percentile

Revenue

Up

$8,668,808

Up $851,752 (+11%) from 2017

Expenses

Up

$9,222,277

Up $1,550,280 (+20%) from 2017

Net Income

Down

-$553,469

Down $698,528 (-482%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$15M$10M$5.0M$0Assets 2011: $2,502,186Liabilities 2011: $691,626Net Assets 2011: $1,810,5602011Assets 2012: $2,933,272Liabilities 2012: $637,513Net Assets 2012: $2,295,7592012Assets 2013: $3,565,360Liabilities 2013: $956,395Net Assets 2013: $2,608,9652013Assets 2014: $5,537,180Liabilities 2014: $1,344,591Net Assets 2014: $4,192,5892014Assets 2015: $10,246,152Liabilities 2015: $3,903,691Net Assets 2015: $6,342,4612015Assets 2016: $11,882,813Liabilities 2016: $3,994,293Net Assets 2016: $7,888,5202016Assets 2017: $11,673,586Liabilities 2017: $3,599,470Net Assets 2017: $8,074,1162017Assets 2018: $11,141,806Liabilities 2018: $3,621,159Net Assets 2018: $7,520,6472018Assets 2019: $9,477,632Liabilities 2019: $2,864,881Net Assets 2019: $6,612,7512019Assets 2020: $7,960,574Liabilities 2020: $2,821,507Net Assets 2020: $5,139,0672020Assets 2021: $7,998,137Liabilities 2021: $2,001,458Net Assets 2021: $5,996,6792021Assets 2022: $7,897,888Liabilities 2022: $1,688,504Net Assets 2022: $6,209,3842022Assets 2023: $7,159,981Liabilities 2023: $150,099Net Assets 2023: $7,009,8822023Assets 2024: $6,662,848Liabilities 2024: $101,817Net Assets 2024: $6,561,0312024

Highlighted filing

2018

Assets$11,141,806
Liabilities$3,621,159
Net Assets$7,520,647
Open 2018 Filing

Operations Trend

Revenue Growth67th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $1,629,310Expenses 2011: $1,283,634Net Income 2011: $345,6762011Expenses 2012: $1,653,8612012Expenses 2013: $3,012,3362013Revenue 2014: $6,870,062Expenses 2014: $5,286,438Net Income 2014: $1,583,6242014Revenue 2015: $8,034,369Expenses 2015: $5,884,497Net Income 2015: $2,149,8722015Revenue 2016: $8,486,346Expenses 2016: $6,940,287Net Income 2016: $1,546,0592016Revenue 2017: $7,817,056Expenses 2017: $7,671,997Net Income 2017: $145,0592017Revenue 2018: $8,668,808Expenses 2018: $9,222,277Net Income 2018: -$553,4692018Revenue 2019: $8,951,207Expenses 2019: $9,859,103Net Income 2019: -$907,8962019Revenue 2020: $8,184,175Expenses 2020: $9,657,859Net Income 2020: -$1,473,6842020Revenue 2021: $10,508,432Expenses 2021: $9,441,659Net Income 2021: $1,066,7732021Revenue 2022: $10,026,336Expenses 2022: $9,813,631Net Income 2022: $212,7052022Revenue 2023: $11,070,919Expenses 2023: $10,270,421Net Income 2023: $800,4982023Revenue 2024: $8,000,870Expenses 2024: $8,492,209Net Income 2024: -$491,3392024

Highlighted filing

2018

Revenue$8,668,808
Expenses$9,222,277
Net Income-$553,469
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2017 to Aug 31, 2018
Signed
Apr 4, 2018
Return Version
2017v2.3
Gross Receipts
$8,668,808
Mission and Program Overview

Mission

Operations of schools for the education of students using individualized curriculum.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,826,753$9,152,803▲ $326,050
Cash and Non-Interest-Bearing Accounts$2,354,260$1,698,944▼ $655,316
Accounts Receivable$243,440$275,050▲ $31,610
Prepaid Expenses and Deferred Charges$245,962$10,841▼ $235,121
Total Assets$11,673,583$11,141,806▼ $531,777
Other Assets Total$3,168$4,168▲ $1,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,406,588$3,189,629▼ $216,959
Accounts Payable and Accrued Expenses$192,879$431,530▲ $238,651
Total Liabilities$3,599,467$3,621,159▲ $21,692
Net Assets / Fund Balance
Temporarily Rstr Net Assets$7,925,320$7,167,470▼ $757,850
Unrestricted Net Assets$148,796$353,177▲ $204,381
Total Net Assets Fund Balance$8,074,116$7,520,647▼ $553,469
Total Liabilities and Net Assets / Fund Balance$11,673,583$11,141,806▼ $531,777

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,752,799$910,003$7,662,802
Other Land Buildings$1,150,417$452,123$1,602,540
Land$988,590-$988,590
Equipment$260,997$198,401$459,398
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lula TurnipseedSuperintendeFT$137,943$14,350$152,293
Lula TurnipseedSuperintendent-$137,943$14,350$152,293

Board Members and Trustees

NameTitle
Norman MitchellBoard Presid
David BarnesBoard Secret
Brittany PerkinsBoard VP
Revenue and Support

Revenue Composition

Contributions and Grants
$8,464,427
Program Service Revenue
$183,075
Investment Income
$21,306
Other Revenue
$0
Change in Net Assets
$-553,469

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,668,808
Total Revenue per Audited Statements
$8,668,808
Total Revenue per Form 990
$8,668,808
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,648,381
Other Expenses$3,573,896
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,570,752$100,605-$4,671,357
Occupancy$988,965--$988,965
Other Employee Benefits$644,644$32,397-$677,041
Depreciation Depletion$78,623$314,490-$393,113
All Other Expenses$279,876--$279,876
Other Expenses$156,815--$156,815
Current Officers, Directors, Trustees, and Key Employees-$137,943-$137,943
Interest$137,024--$137,024
Pension Plan Contributions$87,989$2,522-$90,511
Payroll Taxes$68,182$3,347-$71,529
Insurance$3,857$59,175-$63,032
Travel$54,251$7,850-$62,101
Fees for Services Legal-$30,446-$30,446
Fees for Services Accounting-$15,000-$15,000
Total Functional Expenses$8,518,502$703,775$0$9,222,277

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,222,277
Total Expenses per Audited Statements$9,222,277
Total Expenses per Form 990$9,222,277
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, Page 6, Part VI, Line 11B

“990 is reviewed by board members prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“Board oversight with research as to comparative salaries in the area.”

Form 990, Page 6, Part VI, Line 15B

“Board oversight with research as to comparative salaries in the area.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Priority Systems Inc
EIN
74-2886638
Phone
2546542825
Address
275 FM 2483, MORGANS POINT RESORT, TX 76513

Signing Officer

Name
Norman Mitchell
Title
Board President
Phone
2542062013
Signed
2018-04-04

Organization Details

Principal Officer
Norman Mitchell
Formed
1998
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
207

Preparer

Firm
Evans & Knauth Pllc
Address
4433 PUNJAB WAY STE 102, FRISCO, TX 75033-6745
Preparer
Kirk Evans CPA
Phone
9723359754
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1CHARTER SCHOOL RECEIVES STATE GRANTS AND FEDERAL GRANTS FROM THE TITLE I, TITLE II, IDEA-B, AND CHILD NUTRITION PROGRAMS.
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt014350
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LULA TURNIPSEED
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IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0990 IS REVIEWED BY BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OVERSIGHT WITH RESEARCH AS TO COMPARATIVE SALARIES IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD OVERSIGHT WITH RESEARCH AS TO COMPARATIVE SALARIES IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt011673583
IRS990/TotalAssetsGrp/EOYAmt011141806
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt08464427
IRS990/TotalEmployeeCnt0207
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0703775
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt08518502
IRS990/TotalFunctionalExpensesGrp/TotalAmt09222277
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03599467
IRS990/TotalLiabilitiesEOYAmt03621159
IRS990/TotalLiabilitiesGrp/BOYAmt03599467
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07520647
IRS990/TotalOtherCompensationAmt014350
IRS990/TotalProgramServiceExpensesAmt08518502
IRS990/TotalProgramServiceRevenueAmt0183075
IRS990/TotalReportableCompFromOrgAmt0137943
IRS990/TotalRevenueGrp/ExclusionAmt021306
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08668808
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011673583
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011141806
IRS990/TravelGrp/ManagementAndGeneralAmt07850
IRS990/TravelGrp/ProgramServicesAmt054251
IRS990/TravelGrp/TotalAmt062101
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0148796
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0353177
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
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IRS990/WebsiteAddressTxt0WWW.PRIORITYCHARTER.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0NORMAN MITCHELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02542062013
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PRIORITY SYSTEMS INC
ReturnHeader/Filer/BusinessNameControlTxt0PRIO
ReturnHeader/Filer/EIN0742886638
ReturnHeader/Filer/PhoneNum02546542825
ReturnHeader/Filer/USAddress/AddressLine1Txt0275 FM 2483
ReturnHeader/Filer/USAddress/CityNm0MORGANS POINT RESORT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd076513
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId019E9CF83CF0B4ADBF2102D6D56F5F5B39DC3555D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0ED3958A91AE4CF6A6BCA4DE4605476496A6E98B5
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.87.55.118
ReturnHeader/FilingSecurityInformation/IPDt02019-04-29
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm011:39:55
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0823141950
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EVANS & KNAUTH PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04433 PUNJAB WAY STE 102
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FRISCO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0750336745
ReturnHeader/PreparerPersonGrp/PhoneNum09723359754
ReturnHeader/PreparerPersonGrp/PreparationDt02019-04-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KIRK EVANS CPA
ReturnHeader/ReturnTs02019-04-29T11:39:55-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-09-01
ReturnHeader/TaxPeriodEndDt02018-08-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$11,141,806
Liabilities
$3,621,159
Net assets
$7,520,647
Revenue
$8,668,808
Expenses
$9,222,277
Net income
-$553,469
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.66$0.10$6.56$8.00$8.49$0.49
2023Detailed filing. Detailed filing data is available for this year.$7.16$0.15$7.01$11.1$10.3$0.80
2022Detailed filing. Detailed filing data is available for this year.$7.90$1.69$6.21$10.0$9.81$0.21
2021Detailed filing. Detailed filing data is available for this year.$8.00$2.00$6.00$10.5$9.44$1.07
2020Detailed filing. Detailed filing data is available for this year.$7.96$2.82$5.14$8.18$9.66$1.47
2019Detailed filing. Detailed filing data is available for this year.$9.48$2.86$6.61$8.95$9.86$0.91
2018Detailed filing. Detailed filing data is available for this year.$11.1$3.62$7.52$8.67$9.22$0.55
2017Detailed filing. Detailed filing data is available for this year.$11.7$3.60$8.07$7.82$7.67$0.15
2016Detailed filing. Detailed filing data is available for this year.$11.9$3.99$7.89$8.49$6.94$1.55
2015Detailed filing. Detailed filing data is available for this year.$10.2$3.90$6.34$8.03$5.88$2.15
2014Detailed filing. Detailed filing data is available for this year.$5.54$1.34$4.19$6.87$5.29$1.58
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.57$0.96$2.61$3.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.93$0.64$2.30$1.65
2011Summary only. Only limited summary data is available for this year.$2.50$0.69$1.81$1.63$1.28$0.35