Civic Intelligence

Texas Serenity Academy Inc

EIN 76-0575970 • 501(c)3 • Houston, TX

Profile

K-8 ACADEMIC EDUCATION

8500 Sweetwater LaneHouston, TX 77037

www.tsacharter.net

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

98th percentile

1.74x

Higher debt load relative to assets than 98% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

78th percentile

0.62x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

55th percentile

6.8%

Higher net margin than 55% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

40th percentile

1.2%

Faster asset growth than 40% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

11th percentile

-27%

Faster revenue growth than 11% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Up

$2,048,347

Up $24,409 (+1.2%) from 2021

Liabilities

Down

$3,564,035

Down $367,450 (-9.3%) from 2021

Net Assets

Up

-$1,515,688

Up $391,859 (+21%) from 2021

Revenue

Down

$5,794,775

Down $2,149,524 (-27%) from 2021

Expenses

Down

$5,402,916

Down $2,055,152 (-28%) from 2021

Net Income

Down

$391,859

Down $94,372 (-19%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2011: $1,139,944Liabilities 2011: $680,703Net Assets 2011: $459,2412011Assets 2012: $1,129,738Liabilities 2012: $623,304Net Assets 2012: $506,4342012Assets 2013: $927,448Liabilities 2013: $527,290Net Assets 2013: $400,1582013Assets 2014: $903,595Liabilities 2014: $551,493Net Assets 2014: $352,1022014Assets 2015: $601,633Liabilities 2015: $478,791Net Assets 2015: $122,8422015Assets 2016: $925,018Liabilities 2016: $915,186Net Assets 2016: $9,8322016Assets 2017: $627,444Liabilities 2017: $1,396,201Net Assets 2017: -$768,7572017Assets 2018: $1,954,988Liabilities 2018: $1,941,556Net Assets 2018: $13,4322018Assets 2019: $1,136,130Liabilities 2019: $2,338,723Net Assets 2019: -$1,202,5932019Assets 2020: $3,130,533Liabilities 2020: $5,437,287Net Assets 2020: -$2,306,7542020Assets 2021: $2,023,938Liabilities 2021: $3,931,485Net Assets 2021: -$1,907,5472021Assets 2022: $2,048,347Liabilities 2022: $3,564,035Net Assets 2022: -$1,515,6882022

Highlighted filing

2022

Assets$2,048,347
Liabilities$3,564,035
Net Assets-$1,515,688

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $4,085,885Expenses 2011: $3,935,655Net Income 2011: $150,2302011Expenses 2012: $4,941,6752012Expenses 2013: $4,813,5362013Revenue 2014: $4,925,945Expenses 2014: $4,970,793Net Income 2014: -$44,8482014Revenue 2015: $4,862,370Expenses 2015: $5,091,630Net Income 2015: -$229,2602015Revenue 2016: $5,002,481Expenses 2016: $5,110,516Net Income 2016: -$108,0352016Revenue 2017: $5,177,627Expenses 2017: $5,956,216Net Income 2017: -$778,5892017Revenue 2018: $7,133,496Expenses 2018: $6,351,307Net Income 2018: $782,1892018Revenue 2019: $6,568,427Expenses 2019: $7,616,312Net Income 2019: -$1,047,8852019Revenue 2020: $6,883,915Expenses 2020: $7,988,076Net Income 2020: -$1,104,1612020Revenue 2021: $7,944,299Expenses 2021: $7,458,068Net Income 2021: $486,2312021Revenue 2022: $5,794,775Expenses 2022: $5,402,916Net Income 2022: $391,8592022

Highlighted filing

2022

Revenue$5,794,775
Expenses$5,402,916
Net Income$391,859

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Sep 1, 2021 to Aug 31, 2022
Signed
Apr 12, 2024
Return Version
2021v4.2
Gross Receipts
$5,794,775
Mission and Program Overview

Mission

ACADEMIC EDUCATION

K-8 ACADEMIC EDUCATION

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,267,562$1,181,981▼ $85,581
Cash and Non-Interest-Bearing Accounts$374,382$484,371▲ $109,989
Accounts Receivable$284,460$284,461▲ $1
Receivables From Officers Etc$40,986$40,986→ $0
Pledges and Grants Receivable$37,106$37,106→ $0
Prepaid Expenses and Deferred Charges$7,902$7,902→ $0
Total Assets$2,023,938$2,048,347▲ $24,409
Other Assets Total$11,540$11,540→ $0
Liabilities
Unsecured Notes Loans Payable$2,394,276$2,980,304▲ $586,028
Accounts Payable and Accrued Expenses$426,037$324,619▼ $101,418
Grants Payable$225,873$225,873→ $0
Other Liabilities$885,299$33,239▼ $852,060
Total Liabilities$3,931,485$3,564,035▼ $367,450
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,907,547$-1,515,688▲ $391,859
Total Net Assets Fund Balance$-1,907,547$-1,515,688▲ $391,859
Total Liabilities and Net Assets / Fund Balance$2,023,938$2,048,347▲ $24,409

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$783,205$325,982$1,109,187
Buildings$11,647$1,028,238$1,039,885
Leasehold Improvements$329,866$106,367$436,233
Land$57,263-$57,263
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Rm Real Estate Investors LLCReal Estate2314 ALASSIO ISLE CT, Missouri City, TX 77459$320,000
Revenue and Support

Revenue Composition

Contributions and Grants
$5,794,775
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,736,256
Change in Net Assets
$391,859

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,794,775
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,794,775
Total Revenue per Form 990
$5,794,775
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,972,599
Other Expenses$2,430,317
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,447,641$524,958-$2,972,599
Fees for Services Other$115,965$1,469,760-$1,585,725
Interest-$265,905-$265,905
Other Expenses$1,172$107,921-$109,093
Depreciation Depletion-$95,997-$95,997
Total Functional Expenses$2,713,710$2,689,206$0$5,402,916

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,402,916
Total Expenses per Audited Statements$5,402,916
Total Expenses per Form 990$5,402,916
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Former Board Member and Former EmployeeRentNo$817,000
-Former Board Member and Former EmployeeInsurance AgentNo$175,018

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$40,986$40,986→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$33,239
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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, Section B, Line 11B

The organization has provided a complete copy of form 990 to all members of its governing body before filing the form.

Form 990, Part VI, Section C, Line 19

The governing documents were made available to the public via the district's website.

Filing and Contact Details

Filer

Filer Name
Texas Serenity Academy Inc
EIN
76-0575970
Phone
2819318887
Address
8500 SWEETWATER LANE, HOUSTON, TX 77037

Signing Officer

Name
Larnetta Stewart
Title
Superintendent
Phone
2819318887
Signed
2024-04-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larnetta Stewart
Formed
1998
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
0

Preparer

Firm
Mcconnell & Jones Llp
Address
4828 LOOP CENTRAL DRIVE SUITE 1000, HOUSTON, TX 77081
Preparer
Tene Thomas
Phone
7139681600
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Professional and contracted: program service expenses 115,965. Management and general expenses 1,469,760. Fundraising expenses 0. Total expenses 1,585,725.

Form 990, Part XII, Line 2C

The organization has not changed either its oversight process or selection process during the tax year.

Raw XML AppendixShowing 400 of 418 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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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05402916
IRS990ScheduleD/LandGrp/BookValueAmt057263
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt057263
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0329866
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0106367
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0436233
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt033239
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LIABILITIES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt05794775
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01181981
IRS990ScheduleD/TotalExpensesPerForm990Amt05402916
IRS990ScheduleD/TotalLiabilityAmt033239
IRS990ScheduleD/TotalRevenuePerForm990Amt05794775
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05794775
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05402916
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE NONDISCRIMINATION POLICY WAS POSTED ON THE DISTRICT WEBSITE DURING THE SY22. IT WAS ALSO PROVIDED TO THE NEWSPAPER TO PUBLISH THROUGH OUR CHILD NUTRITION PROGRAM TO MAKE THE PUBLIC AWARE OF OUR DISTRICT'S PARTICIPATION IN THE COMMUNITY ELIGIBILITY PROGRAM (CEP) THROUGH USDA.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION OPERATES AN OPEN-ENROLLMENT CHARTER SCHOOL DISTRICT. THEY RECEIVE FUNDS FROM TEA, TDA AND TDEM.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0ROBERT MARBLEY (RESIGNED 082019)
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1SHARON JENKINS (RESIGNED 0521)
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0FORMER BOARD MEMBER AND FORMER EMPLOYEE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1FORMER BOARD MEMBER AND FORMER EMPLOYEE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0817000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1175018
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1INSURANCE AGENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt040986
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0HAGMON SIMMONS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0RESTITUTION AGREEMENT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt040986
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0FORMER SUPERINTENDENT (RESIGNED 11/21)
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt040986
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS PROVIDED A COMPLETE COPY OF FORM 990 TO ALL MEMBERS OF ITS GOVERNING BODY BEFORE FILING THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING DOCUMENTS WERE MADE AVAILABLE TO THE PUBLIC VIA THE DISTRICT'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PROFESSIONAL AND CONTRACTED: PROGRAM SERVICE EXPENSES 115,965. MANAGEMENT AND GENERAL EXPENSES 1,469,760. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,585,725.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TX
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02023938
IRS990/TotalAssetsEOYAmt02048347
IRS990/TotalAssetsGrp/BOYAmt02023938
IRS990/TotalAssetsGrp/EOYAmt02048347
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt05794775
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02689206
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02713710
IRS990/TotalFunctionalExpensesGrp/TotalAmt05402916
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03931485
IRS990/TotalLiabilitiesEOYAmt03564035
IRS990/TotalLiabilitiesGrp/BOYAmt03931485
IRS990/TotalLiabilitiesGrp/EOYAmt03564035
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1907547
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1515688
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02713710
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05794775
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02023938
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02048347
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt02394276
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt02980304
IRS990/USAddress/AddressLine1Txt023111 BURCAN COURT
IRS990/USAddress/CityNm0SPRING
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077373
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.TSACHARTER.NET
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LARNETTA STEWART
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SUPERINTENDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02819318887
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TEXAS SERENITY ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0TEXA
ReturnHeader/Filer/EIN0760575970
ReturnHeader/Filer/PhoneNum02819318887
ReturnHeader/Filer/USAddress/AddressLine1Txt08500 SWEETWATER LANE
ReturnHeader/Filer/USAddress/CityNm0HOUSTON

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