Civic Intelligence

Trinity School of Midland Texas

990 • Fiscal year 2014 • EIN 75-0995808

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 17, 2015

3500 W Wadley79707

(432) 697-3281

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.11x

Higher debt load relative to assets than 32% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

27th percentile

0.14x

Higher debt load relative to revenue than 27% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Net Margin

92nd percentile

52%

Higher net margin than 92% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

32nd percentile

$180,241

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

97th percentile

87%

Faster asset growth than 97% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

96th percentile

117%

Faster revenue growth than 96% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Assets

Up

$27,684,732

Up $12,895,232 (+87%) from 2013

Net Assets

Up

$24,571,155

Up $12,598,820 (+105%) from 2013

Liabilities

Up

$3,113,577

Up $296,412 (+11%) from 2013

Revenue

Up

$22,684,449

Up $12,225,152 (+117%) from 2013

Expenses

Up

$10,825,582

Up $1,098,299 (+11%) from 2013

Net Income

Up

$11,858,867

Up $11,126,853 (+1520%) from 2013

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2010: $12,836,247Liabilities 2010: $2,272,593Net Assets 2010: $10,563,6542010Assets 2011: $13,627,757Liabilities 2011: $3,140,973Net Assets 2011: $10,486,7842011Assets 2012: $13,484,113Liabilities 2012: $2,636,259Net Assets 2012: $10,847,8542012Assets 2013: $14,789,500Liabilities 2013: $2,817,165Net Assets 2013: $11,972,3352013Assets 2014: $27,684,732Liabilities 2014: $3,113,577Net Assets 2014: $24,571,1552014Assets 2015: $17,295,155Liabilities 2015: $4,142,968Net Assets 2015: $13,152,1872015Assets 2016: $24,807,386Liabilities 2016: $4,415,071Net Assets 2016: $20,392,3152016Assets 2017: $26,709,058Liabilities 2017: $3,329,911Net Assets 2017: $23,379,1472017Assets 2018: $26,557,160Liabilities 2018: $3,262,082Net Assets 2018: $23,295,0782018Assets 2019: $26,764,616Liabilities 2019: $2,997,332Net Assets 2019: $23,767,2842019Assets 2020: $28,685,785Liabilities 2020: $4,006,829Net Assets 2020: $24,678,9562020Assets 2021: $27,961,554Liabilities 2021: $2,300,152Net Assets 2021: $25,661,4022021Assets 2022: $26,946,504Liabilities 2022: $3,358,662Net Assets 2022: $23,587,8422022Assets 2023: $26,960,927Liabilities 2023: $3,443,013Net Assets 2023: $23,517,9142023Assets 2024: $38,844,792Liabilities 2024: $4,121,122Net Assets 2024: $34,723,6702024

Highlighted filing

2014

Assets$27,684,732
Liabilities$3,113,577
Net Assets$24,571,155

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $7,679,0762010Expenses 2011: $7,766,9292011Revenue 2012: $8,748,412Expenses 2012: $8,560,841Net Income 2012: $187,5712012Revenue 2013: $10,459,297Expenses 2013: $9,727,283Net Income 2013: $732,0142013Revenue 2014: $22,684,449Expenses 2014: $10,825,582Net Income 2014: $11,858,8672014Revenue 2015: $14,015,186Expenses 2015: $11,276,016Net Income 2015: $2,739,1702015Revenue 2016: $12,445,189Expenses 2016: $11,241,349Net Income 2016: $1,203,8402016Revenue 2017: $12,423,735Expenses 2017: $12,139,673Net Income 2017: $284,0622017Revenue 2018: $13,354,900Expenses 2018: $13,742,946Net Income 2018: -$388,0462018Revenue 2019: $14,183,090Expenses 2019: $13,640,915Net Income 2019: $542,1752019Revenue 2020: $14,789,135Expenses 2020: $14,011,800Net Income 2020: $777,3352020Revenue 2021: $15,122,842Expenses 2021: $14,660,921Net Income 2021: $461,9212021Revenue 2022: $15,021,172Expenses 2022: $16,939,666Net Income 2022: -$1,918,4942022Revenue 2023: $17,209,640Expenses 2023: $17,312,241Net Income 2023: -$102,6012023Revenue 2024: $29,502,616Expenses 2024: $18,355,488Net Income 2024: $11,147,1282024

Highlighted filing

2014

Revenue$22,684,449
Expenses$10,825,582
Net Income$11,858,867
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 17, 2015
Return Version
2013v4.0
Gross Receipts
$22,692,309
Mission and Program Overview

Mission

The mission of trinity school is to be a college preparatory community that provides a nurturing environment to enrich the mind, strengthen the body, enliven the soul, and inspire servant leadership.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$6,304,978$12,612,300▲ $6,307,322
Pledges and Grants Receivable$25,000$6,135,607▲ $6,110,607
Land, Buildings, and Equipment, Net$4,662,080$5,062,060▲ $399,980
Cash and Non-Interest-Bearing Accounts$3,750,603$3,861,942▲ $111,339
Accounts Receivable$37,665$7,655▼ $30,010
Prepaid Expenses and Deferred Charges$9,174$5,168▼ $4,006
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$14,789,500$27,684,732▲ $12,895,232
Other Assets Total-$0-
Liabilities
Deferred Revenue$2,485,133$2,690,039▲ $204,906
Accounts Payable and Accrued Expenses$332,032$423,538▲ $91,506
Total Liabilities$2,817,165$3,113,577▲ $296,412
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,383,869$14,428,919▲ $12,045,050
Unrestricted Net Assets$6,675,017$7,228,787▲ $553,770
Permanently Rstr Net Assets$2,913,449$2,913,449→ $0
Total Net Assets Fund Balance$11,972,335$24,571,155▲ $12,598,820
Total Liabilities and Net Assets / Fund Balance$14,789,500$27,684,732▲ $12,895,232

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,145,991$2,726,693$4,872,684
Other Land Buildings$1,254,454$1,188,718$2,443,172
Leasehold Improvements$1,131,166$1,015,765$2,146,931
Equipment$254,008$237,894$491,902
Land$276,441-$276,441

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$5,048,214$3,090▲ $756,775$201,082$5,606,997
2012$4,471,180$247,355▲ $440,017$110,338$5,048,214
2011$4,226,136$45,555▲ $254,803$55,314$4,471,180
2010$4,355,604$1,150▲ $477,543$608,161$4,226,136
2009$7,525$422,928-$9,380$4,355,604
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Walter PrehnHead of SchoolFT$128,591$51,650$180,241
David BarrientesCFOFT$88,921-$88,921

Board Members and Trustees

NameTitle
Tony FarishPast President
Stuart BealPresident
Dr Sanjay PatelTrustee
Dr Tamrasha WilliamsTrustee
Drew AndersonTrustee
Jim WoodcockTrustee
John CooperTrustee
Joseph De CompiegneTrustee
Julie EdwardsTrustee
Kathy ShannonTrustee
Link GrimesTrustee
Liza PhilpyTrustee
Scott DingerTrustee
Sharla SirgoTrustee
Kate BealTrustee-Advisor
Kelly BealTrustee-Advisor
Larry BellTrustee-Advisor
MARY de COMPIEGNETrustee-Advisor
Norbert DickmanTrustee-Advisor
Steve PersonTrustee-Advisor
Chris Aycock2nd VP
Darren SkylesChancellor
Jack RathboneFirst VP
Risa WalkerSecretary
Steve PruettTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Parkhill Smith & CooperConstruction Contrac-$214,000
Bacon Lee & AssociatesConsulting-$117,651
Revenue and Support

Revenue Composition

Contributions and Grants
$13,533,383
Program Service Revenue
$8,939,445
Investment Income
$176,034
Other Revenue
$35,587
All Other Contributions
$13,533,383
Change in Net Assets
$11,858,867

Audited Revenue Reconciliation

Revenue per Audited Statements
$22,692,309
Revenue Not Reported on Financial Statements
$-7,860
Revenue Not Reported on Form 990
$739,953
Other Revenue Adjustments
$-7,860
Total Revenue per Audited Statements
$23,432,262
Total Revenue per Form 990
$22,684,449
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,587,107
Other Expenses$3,238,475
Total Fundraising Expense$322,925
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,082,352$449,466$127,658$5,659,476
Other Employee Benefits$942,167$58,358$10,800$1,011,325
Occupancy$567,598$26,886$2,988$597,472
Depreciation Depletion$442,630$4,024$447$447,101
All Other Expenses$208,143$212,703$13,457$434,303
Payroll Taxes$368,053$45,728$8,463$422,244
Pension Plan Contributions$212,372$34,884$6,456$253,712
Current Officers, Directors, Trustees, and Key Employees-$240,350-$240,350
Other Expenses$111,341-$146,113$111,341
Insurance$83,851$8,293-$92,144
Advertising-$44,393$3,371$47,764
Information Technology-$45,369-$45,369
Fees for Services Other-$44,528-$44,528
Office Expenses-$15,767$1,484$17,251
Travel-$12,721$1,688$14,409
Total Functional Expenses$9,259,187$1,243,470$322,925$10,825,582

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,833,442
Total Expenses per Audited Statements$10,833,442
Total Expenses per Form 990$10,825,582
Expenses Not Reported on Financial Statements$-7,860
Other Expense Adjustments$-7,860
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$17,550
Fundraising Direct Expenses$7,860
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$17,550$17,550$425$17,125
Total Events$17,550$17,550$7,860$9,690
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
No
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, Line 8: Explanation of No Contemporaneously Documentation of Meetings

All board meetings are documented in written board minutes that are read and approved by the board of trustees. Committees report to the board and the reports are documented in the board minutes.

Form 990, Part VI, Line 11B: Form 990 Review Process

A local cpa firm prepares the form 990. Upon completion of the form 990, it is distributed to the board of trustees and presented to the finance committee for review before filing. Once the finance committee reviews and accepts the form 990, it is presented to the trinity school board of trustees for final approval.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Trinity school governance committee chair makes sure that all board trustees sign conflict of interest disclosure statements annually. The governance chair and the executive board monitor and enforce compliance with the conflict of interest policy when situations may occur.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The contract for the head of school is negotiated by the compensation committee comprised of the board chair, treasurer and the first vice president of the board. The final terms of the contract are approved by the executive committee of the board of trustees and disclosed to the full board of trustees. The contract is also reviewed by the school's attorney. The terms of compensation are benchmarked against both the published data of the national association of independent schools and the independent schools association of the southwest and specifically compared to schools of similar size, budget and size of city.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing documents, conflict of interest policy and financial statements are not made available to the public.

Filing and Contact Details

Filer

EIN
75-0995808
Phone
4326973281

Signing Officer

Name
David Barrientes
Title
CFO
Signed
2015-02-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Walter Prehn
Formed
1966
Legal Domicile
TX
Voting Board Members
19
Independent Board Members
19
Employees
188
Volunteers
300

Preparer

Preparer
C Marc Martin CPA
Phone
4326850094
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1-sig Activities

Trinity school of midland is a college preparatory community that offers an exceptionally enriched program providing children beginning in preschool and going through twelfth grade with experiences in the visual and performing arts, foreign language, physical education, and technology in addition to a solid core of academic courses. Furthermore, because the school encompasses pre-kindergarten through grade twelve, we enjoy the opportunity to construct and coordinate a developmentally coherent academic program. Trinity school is dedicated to upholding exemplary academic, ethical, and behavioral standards for all its students. We want our students to know the value of giving their best effort and to experience the power of knowledge. We want them to learn that honesty is intrinisically worthwhile. We want them to understand that their individual behavior affects those around them, and we want them to develop a healthy spiritual life.being a college preparatory school means expecting our students to be both academically and individually ready for success at selective colleges and universities throughout the country. To this objective, our faculty applies a high level of scholarship and an extraordinary commitment to teaching and to appreciating the individual student.in addition to the school's academic program, trinity operates the rhonda g. Durham children's enrichment center (cec), which is fully licensed by the state of texas and offers an extended day program and a two-year old program for trinity school families. Children enrolled in the school's three-year old and four-year old half-day classes may also enroll in the cec for additional hours of teaching. The primary goal of the center is to contribute to the development of the total child, with special attention being placed on physical, social, emotional, spiritual and intellectual growth. The spacious cec facility provides a safe and nurturing learning environment with sequential, creative age-appropriate educational experiences for all children.the curriculum of the trinity school cec is a compliment to the montessori-based curriculum taught in the trinity school preschool. Because of the continuity between programs, children are able to move from one program to the other without interruption in theory, practice, or expectations. Along with montessori activities, the cec also offers movement between centers and includes a daily art/craft project. Children who arrive at the cec from lower school will be provided a quiet, supervised location in order to concentrate on homework after a transition from classes.

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

To support operations and provide scholarhsips

Part X : FIN48 Footnote

The school has adopted the provisions of fasb asc 740-10-25, which requires that a tax position be recognized or derecognized based on a "more likely that not" threshold. This applies to positions taken or expected to be taken in a tax return. The school does not believe its financial statements include any uncertain tax positions.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHANCELLOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt52ND VP
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee-Advisor
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee-Advisor
IRS990/Form990PartVIISectionAGrp/TitleTxt9Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17FIRST VP
IRS990/Form990PartVIISectionAGrp/TitleTxt18Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt19Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt21Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt22Trustee-Advisor
IRS990/Form990PartVIISectionAGrp/TitleTxt23Trustee-Advisor
IRS990/Form990PartVIISectionAGrp/TitleTxt24Trustee-Advisor
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IRS990/MissionDesc0THE MISSION OF TRINITY SCHOOL IS TO BE A COLLEGE PREPARATORY COMMUNITY THAT PROVIDES A NURTURING ENVIRONMENT TO ENRICH THE MIND, STRENGTHEN THE BODY, ENLIVEN THE SOUL, AND INSPIRE SERVANT LEADERSHIP.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$38.8$4.12$34.7$29.5$18.4$11.1
2023Detailed filing. Detailed filing data is available for this year.$27.0$3.44$23.5$17.2$17.3$0.10
2022Detailed filing. Detailed filing data is available for this year.$26.9$3.36$23.6$15.0$16.9$1.92
2021Detailed filing. Detailed filing data is available for this year.$28.0$2.30$25.7$15.1$14.7$0.46
2020Detailed filing. Detailed filing data is available for this year.$28.7$4.01$24.7$14.8$14.0$0.78
2019Detailed filing. Detailed filing data is available for this year.$26.8$3.00$23.8$14.2$13.6$0.54
2018Detailed filing. Detailed filing data is available for this year.$26.6$3.26$23.3$13.4$13.7$0.39
2017Detailed filing. Detailed filing data is available for this year.$26.7$3.33$23.4$12.4$12.1$0.28
2016Detailed filing. Detailed filing data is available for this year.$24.8$4.42$20.4$12.4$11.2$1.20
2015Detailed filing. Detailed filing data is available for this year.$17.3$4.14$13.2$14.0$11.3$2.74
2014Detailed filing. Detailed filing data is available for this year.$27.7$3.11$24.6$22.7$10.8$11.9
2013Summary only. Only limited summary data is available for this year.$14.8$2.82$12.0$10.5$9.73$0.73
2012Summary only. Only limited summary data is available for this year.$13.5$2.64$10.8$8.75$8.56$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.6$3.14$10.5$7.77
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.8$2.27$10.6$7.68