Civic Intelligence

Austin Gifted Inc

990 • Fiscal year 2020 • EIN 74-2913554

Sep 01, 2019 to Aug 31, 2020 • Filed on Jul 14, 2021

Organization ProfileWWW.AUSTINGIFTED.ORG
3901 Shoal Creek BlvdAustin, TX 78756

(512) 206-4070

Siviq Scores

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

Liabilities / Assets

84th percentile

0.58x

Higher debt load relative to assets than 84% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

73rd percentile

0.39x

Higher debt load relative to revenue than 73% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

56th percentile

8.6%

Higher net margin than 56% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

66th percentile

$92,855

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

2nd percentile

-34%

Faster asset growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

59th percentile

5.7%

Faster revenue growth than 59% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$1,536,559

Down $801,554 (-34%) from 2019

Net Assets

Up

$638,664

Up $365,315 (+134%) from 2019

Liabilities

Down

$897,895

Down $1,166,869 (-57%) from 2019

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin56th percentile

Revenue

Up

$2,310,209

Up $124,832 (+5.7%) from 2019

Expenses

Down

$2,112,649

Down $45,272 (-2.1%) from 2019

Net Income

Up

$197,560

Up $170,104 (+620%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,224,965Liabilities 2011: $814,697Net Assets 2011: $410,2682011Assets 2012: $1,308,631Liabilities 2012: $1,053,737Net Assets 2012: $254,8942012Assets 2013: $1,430,610Liabilities 2013: $1,152,449Net Assets 2013: $278,1612013Assets 2014: $1,308,443Liabilities 2014: $1,039,736Net Assets 2014: $268,7072014Assets 2015: $1,266,274Liabilities 2015: $1,150,516Net Assets 2015: $115,7582015Assets 2016: $831,896Liabilities 2016: $774,245Net Assets 2016: $57,6512016Assets 2017: $872,393Liabilities 2017: $773,410Net Assets 2017: $98,9832017Assets 2018: $1,162,927Liabilities 2018: $892,765Net Assets 2018: $270,1622018Assets 2019: $2,338,113Liabilities 2019: $2,064,764Net Assets 2019: $273,3492019Assets 2020: $1,536,559Liabilities 2020: $897,895Net Assets 2020: $638,6642020Assets 2021: $2,344,588Liabilities 2021: $1,267,575Net Assets 2021: $1,077,0132021Assets 2022: $1,913,240Liabilities 2022: $1,192,483Net Assets 2022: $720,7572022Assets 2023: $1,845,260Liabilities 2023: $769,251Net Assets 2023: $1,076,0092023Assets 2024: $2,042,259Liabilities 2024: $1,300,574Net Assets 2024: $741,6852024

Highlighted filing

2020

Assets$1,536,559
Liabilities$897,895
Net Assets$638,664
Open 2020 Filing

Operations Trend

Revenue Growth59th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,529,461Expenses 2011: $1,505,540Net Income 2011: $23,9212011Revenue 2012: $1,838,946Expenses 2012: $1,998,280Net Income 2012: -$159,3342012Expenses 2013: $2,125,2662013Revenue 2014: $2,462,372Expenses 2014: $2,481,007Net Income 2014: -$18,6352014Revenue 2015: $2,576,507Expenses 2015: $2,713,194Net Income 2015: -$136,6872015Revenue 2016: $2,459,616Expenses 2016: $2,515,514Net Income 2016: -$55,8982016Revenue 2017: $1,872,831Expenses 2017: $1,838,252Net Income 2017: $34,5792017Revenue 2018: $2,174,657Expenses 2018: $2,010,976Net Income 2018: $163,6812018Revenue 2019: $2,185,377Expenses 2019: $2,157,921Net Income 2019: $27,4562019Revenue 2020: $2,310,209Expenses 2020: $2,112,649Net Income 2020: $197,5602020Revenue 2021: $2,049,769Expenses 2021: $1,648,647Net Income 2021: $401,1222021Revenue 2022: $1,321,074Expenses 2022: $1,677,330Net Income 2022: -$356,2562022Revenue 2023: $1,847,254Expenses 2023: $1,632,434Net Income 2023: $214,8202023Revenue 2024: $1,510,458Expenses 2024: $1,844,782Net Income 2024: -$334,3242024

Highlighted filing

2020

Revenue$2,310,209
Expenses$2,112,649
Net Income$197,560
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2019 to Aug 31, 2020
Signed
Jul 14, 2021
Return Version
2019v5.1
Gross Receipts
$2,318,841
Mission and Program Overview

Mission

Ace academy is a private, independent school for gifted students in

Ace academy is a private, independent school for gifted students in austin, tx.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$571,811$744,747▲ $172,936
Investments in Publicly Traded Securities$558,753$671,795▲ $113,042
Savings and Temporary Cash Investments$56,136$64,726▲ $8,590
Prepaid Expenses and Deferred Charges$46,185$25,595▼ $20,590
Land, Buildings, and Equipment, Net$29,113$24,399▼ $4,714
Accounts Receivable$1,067,363$5,297▼ $1,062,066
Total Assets$2,338,113$1,536,559▼ $801,554
Other Assets Total$8,752$0▼ $8,752
Liabilities
Deferred Revenue$2,058,326$510,288▼ $1,548,038
Unsecured Notes Loans Payable-$368,400-
Accounts Payable and Accrued Expenses$6,438$19,207▲ $12,769
Total Liabilities$2,064,764$897,895▼ $1,166,869
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$273,349$411,801▲ $138,452
Net Assets With Donor Restrictions-$226,863-
Total Net Assets Fund Balance$273,349$638,664▲ $365,315
Total Liabilities and Net Assets / Fund Balance$2,338,113$1,536,559▼ $801,554

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$24,399$130,819$155,218
Land$0--
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tabitha MolettHead of SchoolFT$92,855$92,855

Board Members and Trustees

NameTitle
Danny MulliganBoard Chair
Desiree KimballBoard Member
Dr Ross ToblemanBoard Member
Dr Scott EvansBoard Member
HATICE O'LEARYBoard Member
Jeana BuchananBoard Member
Keith MoeBoard Member
Laura DinkelBoard Member
Lisa NovakBoard Member
Nance RiffeBoard Member
Ross GarssonBoard Member
Sarah HarrisBoard Member
Mark RichmondBoard Secretary
Jennifer RobinsonBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$100,291
Program Service Revenue
$2,059,797
Investment Income
$35,024
Other Revenue
$115,097
All Other Contributions
$100,291
Change in Net Assets
$197,560

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,310,197
Revenue Not Reported on Financial Statements
$12
Revenue Not Reported on Form 990
$-13,629
Total Revenue per Audited Statements
$2,296,568
Total Revenue per Form 990
$2,310,209
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,725,858
Other Expenses$334,291
Total Fundraising Expense$52,720
Grants and Similar Amounts Paid$52,500
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,326,542$77,047$43,777$1,447,366
Occupancy$69,554$69,554$0$139,108
Payroll Taxes$117,622$6,832$3,882$128,336
Current Officers, Directors, Trustees, and Key Employees$85,104$4,943$2,809$92,856
Office Expenses$63,417$16,383$372$80,172
Other Employee Benefits$52,517$3,050$1,733$57,300
Fees for Services Accounting$470$53,578$2$54,050
Grants to Domestic Individuals$52,500--$52,500
Depreciation Depletion$11,145$6,231$0$17,376
Fees for Services Other$11,516$2,748$145$14,409
Conferences and Meetings$10,777$0$0$10,777
Fees for Services Legal$2,021$4,631$0$6,652
Insurance$0$6,037$0$6,037
Advertising$5,698$0$0$5,698
Fees for Service Investment Mgmnt Fees$0$12$0$12
Total Functional Expenses$1,808,883$251,046$52,720$2,112,649

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,121,269
Total Expenses per Form 990$2,112,649
Expenses per Audited Statements$2,112,637
Expenses Not Reported on Form 990$8,632
Expenses Not Reported on Financial Statements$12
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$122,804
Fundraising Direct Expenses$8,632
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Gala$122,804$122,804$8,632$114,172
None----
Total Events$122,804$122,804$8,632$114,172
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
Audit committee
Yes
Backup withholding compliance
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
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Austin Gifted Inc
EIN
74-2913554
Phone
5122064070
Address
3901 SHOAL CREEK BLVD, AUSTIN, TX 78756

Signing Officer

Name
Desiree Kimball
Title
Director
Phone
5122064070
Signed
2021-07-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Danny Mulligan
Formed
2005
Legal Domicile
TX
Voting Board Members
15
Independent Board Members
14
Employees
64
Volunteers
50

Preparer

Firm
Allman & Associates Inc
Address
9600 Great Hills Trail Suite 150W, Austin, TX 78759
Preparer
Peter L Allman CPA
Phone
5125073022
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The head of the school and the board member signing the form 990 review the return with their bookkeeper and their cpa tax preparer prior to the form 990 filing.”

Pt VI, Line 15A

“The board of directors sets the compensation for the head of the school during the budget process each year.”

Pt VI, Line 19

“The organization's form 990 with financial information is available to the general public upon request.”

Pt VI, Line 4

“The organization amended it's bylaws to require an external financial audit to be conducted at least once per three years.”

Financial Statement Notes

Pt XI, Line 2D

“FUNDRAISING EXPENSES”

Pt XII, Line 2D

“FUNDRAISING EXPENSES”

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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/Form990PartVIISectionAGrp/TitleTxt0HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD CHAIR
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYSalariesCompEmpBnftPaidAmt01706435
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IRS990/ReportLandBuildingEquipmentInd0true
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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,536,559
Liabilities
$897,895
Net assets
$638,664
Revenue
$2,310,209
Expenses
$2,112,649
Net income
$197,560
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.04$1.30$0.74$1.51$1.84$0.33
2023Detailed filing. Detailed filing data is available for this year.$1.85$0.77$1.08$1.85$1.63$0.21
2022Detailed filing. Detailed filing data is available for this year.$1.91$1.19$0.72$1.32$1.68$0.36
2021Detailed filing. Detailed filing data is available for this year.$2.34$1.27$1.08$2.05$1.65$0.40
2020Detailed filing. Detailed filing data is available for this year.$1.54$0.90$0.64$2.31$2.11$0.20
2019Detailed filing. Detailed filing data is available for this year.$2.34$2.06$0.27$2.19$2.16$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.16$0.89$0.27$2.17$2.01$0.16
2017Detailed filing. Detailed filing data is available for this year.$0.87$0.77$0.10$1.87$1.84$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.83$0.77$0.06$2.46$2.52$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.27$1.15$0.12$2.58$2.71$0.14
2014Detailed filing. Detailed filing data is available for this year.$1.31$1.04$0.27$2.46$2.48$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$1.15$0.28$2.13
2012Summary only. Only limited summary data is available for this year.$1.31$1.05$0.25$1.84$2.00$0.16
2011Summary only. Only limited summary data is available for this year.$1.22$0.81$0.41$1.53$1.51$0.02