Civic Intelligence

Austin Gifted Inc

990 • Fiscal year 2021 • EIN 74-2913554

Sep 01, 2020 to Aug 31, 2021 • Filed on Jul 14, 2022

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

85th percentile

0.54x

Higher debt load relative to assets than 85% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

82nd percentile

0.62x

Higher debt load relative to revenue than 82% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

61st percentile

20%

Higher net margin than 61% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

68th percentile

$95,619

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

87th percentile

53%

Faster asset growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

19th percentile

-11%

Faster revenue growth than 19% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$2,344,588

Up $808,029 (+53%) from 2020

Net Assets

Up

$1,077,013

Up $438,349 (+69%) from 2020

Liabilities

Up

$1,267,575

Up $369,680 (+41%) from 2020

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin61st percentile

Revenue

Down

$2,049,769

Down $260,440 (-11%) from 2020

Expenses

Down

$1,648,647

Down $464,002 (-22%) from 2020

Net Income

Up

$401,122

Up $203,562 (+103%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth87th 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

2021

Assets$2,344,588
Liabilities$1,267,575
Net Assets$1,077,013
Open 2021 Filing

Operations Trend

Revenue Growth19th 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

2021

Revenue$2,049,769
Expenses$1,648,647
Net Income$401,122
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Jul 14, 2022
Return Version
2020v4.1
Gross Receipts
$2,049,769
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
Investments in Publicly Traded Securities$671,795$964,224▲ $292,429
Accounts Receivable$5,297$759,106▲ $753,809
Cash and Non-Interest-Bearing Accounts$744,747$423,482▼ $321,265
Savings and Temporary Cash Investments$64,726$64,729▲ $3
Prepaid Expenses and Deferred Charges$25,595$20,547▼ $5,048
Land, Buildings, and Equipment, Net$24,399$11,666▼ $12,733
Total Assets$1,536,559$2,344,588▲ $808,029
Other Assets Total$0$100,834▲ $100,834
Liabilities
Deferred Revenue$510,288$1,261,015▲ $750,727
Unsecured Notes Loans Payable$368,400$0▼ $368,400
Accounts Payable and Accrued Expenses$19,207$6,560▼ $12,647
Total Liabilities$897,895$1,267,575▲ $369,680
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$411,801$1,077,013▲ $665,212
Net Assets With Donor Restrictions$226,863--
Total Net Assets Fund Balance$638,664$1,077,013▲ $438,349
Total Liabilities and Net Assets / Fund Balance$1,536,559$2,344,588▲ $808,029

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,666$143,552$155,218
Land$0--
Other Assets Org$99,334--
Compensation and Service Providers
Top Officer Pay68th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tabitha MolettHead of SchoolFT$94,761$858$95,619
Desiree KimballBoard Member-$79,015-$79,015

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$837,292
Program Service Revenue
$1,212,465
Investment Income
$12
Other Revenue
$0
All Other Contributions
$178,186
Change in Net Assets
$401,122
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,216,149
Other Expenses$391,548
Total Fundraising Expense$46,256
Grants and Similar Amounts Paid$40,950
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$899,589$52,249$29,687$981,525
Occupancy$97,164$97,164$0$194,328
Current Officers, Directors, Trustees, and Key Employees$160,054$9,296$5,282$174,632
Conferences and Meetings$77,070$0$0$77,070
Fees for Service Investment Mgmnt Fees$0$45,200$0$45,200
Other Employee Benefits$40,952$2,379$1,351$44,682
Grants to Domestic Orgs$40,950--$40,950
Office Expenses$8,692$11,691$0$20,383
Pension Plan Contributions$13,088$760$432$14,280
Depreciation Depletion$0$12,733$0$12,733
Fees for Services Accounting$0$10,143$0$10,143
Advertising$0$0$9,473$9,473
Information Technology$4,438$4,438$0$8,876
Fees for Services Other$6,946$0$0$6,946
Insurance$0$6,195$0$6,195
Payroll Taxes$944$55$31$1,030
Fees for Services Legal$0$201$0$201
Total Functional Expenses$1,349,887$252,504$46,256$1,648,647
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
Audit committee
No
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
2022-07-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Danny Mulligan
Formed
2005
Legal Domicile
TX
Voting Board Members
14
Independent Board Members
12
Employees
62
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.”

Raw XML AppendixShowing 400 of 512 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/Desc0ACE ACADEMY OFFERS A FULL-TIME PROGRAM SPECIFICALLY DESIGNED FOR THE GIFTED LEARNER. THROUGH INTERDISCIPLINARY CURRICULUM AND RELATIONAL LEARNING, ACE ENCOURAGES A GLOBAL, IN-DEPTH PERSPECTIVE IN ITS STUDENTS. FOREIGN LANGUAGE, ART, MUSIC, DRAMA, CHESS, ROBOTICS, AND PHYSICAL EDUCATION ROUND OUT CORE ACADEMICS. THE ACADEMY HOLDS THE SUMMER WONDERS PROGRAM ANNUALLY. SUMMER WONDERS ALLOWS STUDENTS TO EXPLORE DIVERSE SUBJECTS IN A CHALLENGING, CREATIVE ENVIRONMENT THROUGH AN INTEGRATIVE, HANDS-ON, NON-TRADITIONAL APPROACH.
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IRS990/MissionDesc0ACE ACADEMY IS A PRIVATE, INDEPENDENT SCHOOL FOR GIFTED STUDENTS IN AUSTIN, TEXAS.
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IRS990/OccupancyGrp/ManagementAndGeneralAmt097164
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IRS990/OccupancyGrp/TotalAmt0194328
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt011691
IRS990/OfficeExpensesGrp/ProgramServicesAmt08692
IRS990/OfficeExpensesGrp/TotalAmt020383
IRS990/OfficerMailingAddressInd0false
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IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/BOYAmt00
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02379
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt040952
IRS990/OtherEmployeeBenefitsGrp/TotalAmt044682
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt029687
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt052249
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0899589
IRS990/OtherSalariesAndWagesGrp/TotalAmt0981525
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt031
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt055
IRS990/PayrollTaxesGrp/ProgramServicesAmt0944
IRS990/PayrollTaxesGrp/TotalAmt01030
IRS990/PensionPlanContributionsGrp/FundraisingAmt0432
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0760
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt013088
IRS990/PensionPlanContributionsGrp/TotalAmt014280
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt025595
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt020547
IRS990/PrincipalOfficerNm0DANNY MULLIGAN
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IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0TUITION & FEES
IRS990/ProgramServiceRevenueGrp/Desc1OTHER INCOME
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IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14858
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt052500
IRS990/PYInvestmentIncomeAmt035024
IRS990/PYOtherExpensesAmt0334291
IRS990/PYOtherRevenueAmt0115097
IRS990/PYProgramServiceRevenueAmt02059797
IRS990/PYRevenuesLessExpensesAmt0197560
IRS990/PYSalariesCompEmpBnftPaidAmt01725858
IRS990/PYTotalExpensesAmt02112649
IRS990/PYTotalRevenueAmt02310209
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0401122
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01207607
IRS990/SavingsAndTempCashInvstGrp/BOYAmt064726
IRS990/SavingsAndTempCashInvstGrp/EOYAmt064729
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0842149
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0100291
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt022465
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0282012
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0185282
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01432199
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt012
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt09591
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01692
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt07526
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt06432
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt025253
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01207607
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt02058797
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt02080091
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01772383
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01698500
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt08817378
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt012
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01692
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IRS990ScheduleA/InvestmentIncomePYPct00.00320
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IRS990ScheduleA/PublicSupportCY509Pct00.88820
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt0219785
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt0262865
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt01123102
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IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt0242280
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01883782
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,344,588
Liabilities
$1,267,575
Net assets
$1,077,013
Revenue
$2,049,769
Expenses
$1,648,647
Net income
$401,122
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