Civic Intelligence

Kaizen Educational Foundation

990 • Fiscal year 2020 • EIN 80-0197489

Jul 01, 2019 to Jun 30, 2020 • Filed on Feb 15, 2021

Organization ProfileKAIZENFOUNDATION.ORG
6150 NORTH 16th STREET Suite APhoenix, AZ 85016

(602) 953-2933

Siviq Scores

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

Liabilities / Assets

89th percentile

0.90x

Higher debt load relative to assets than 89% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

77th percentile

1.27x

Higher debt load relative to revenue than 77% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Net Margin

39th percentile

1.0%

Higher net margin than 39% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

11th percentile

$136,080

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Asset Growth

25th percentile

-0.4%

Faster asset growth than 25% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

57th percentile

4.7%

Faster revenue growth than 57% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$50,081,839

Down $211,679 (-0.4%) from 2019

Net Assets

Up

$4,865,265

Up $479,758 (+11%) from 2019

Liabilities

Down

$45,216,574

Down $691,437 (-1.5%) from 2019

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin39th percentile

Revenue

Up

$35,502,146

Up $1,609,571 (+4.7%) from 2019

Expenses

Up

$35,150,108

Up $1,312,264 (+3.9%) from 2019

Net Income

Up

$352,038

Up $297,307 (+543%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$80M$60M$40M$20M$0Assets 2012: $2,516,496Liabilities 2012: $2,334,640Net Assets 2012: $181,8562012Assets 2013: $3,871,680Liabilities 2013: $3,058,773Net Assets 2013: $812,9072013Assets 2014: $5,126,698Liabilities 2014: $2,444,637Net Assets 2014: $2,682,0612014Assets 2015: $7,351,191Liabilities 2015: $3,413,134Net Assets 2015: $3,938,0572015Assets 2016: $8,072,098Liabilities 2016: $3,112,965Net Assets 2016: $4,959,1332016Assets 2017: $38,642,260Liabilities 2017: $33,638,406Net Assets 2017: $5,003,8542017Assets 2018: $38,628,656Liabilities 2018: $34,297,880Net Assets 2018: $4,330,7762018Assets 2019: $50,293,518Liabilities 2019: $45,908,011Net Assets 2019: $4,385,5072019Assets 2020: $50,081,839Liabilities 2020: $45,216,574Net Assets 2020: $4,865,2652020Assets 2021: $50,687,935Liabilities 2021: $44,643,419Net Assets 2021: $6,044,5162021Assets 2022: $53,687,317Liabilities 2022: $44,571,621Net Assets 2022: $9,115,6962022Assets 2023: $66,866,401Liabilities 2023: $53,514,911Net Assets 2023: $13,351,4902023Assets 2024: $67,421,479Liabilities 2024: $51,224,357Net Assets 2024: $16,197,1222024

Highlighted filing

2020

Assets$50,081,839
Liabilities$45,216,574
Net Assets$4,865,265
Open 2020 Filing

Operations Trend

Revenue Growth57th percentile

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

$60M$40M$20M$0-$20MRevenue 2012: $12,773,025Expenses 2012: $9,760,728Net Income 2012: $3,012,2972012Revenue 2013: $26,280,746Expenses 2013: $25,649,695Net Income 2013: $631,0512013Revenue 2014: $30,608,213Expenses 2014: $28,739,059Net Income 2014: $1,869,1542014Revenue 2015: $28,698,825Expenses 2015: $27,442,829Net Income 2015: $1,255,9962015Revenue 2016: $28,594,272Expenses 2016: $27,573,196Net Income 2016: $1,021,0762016Revenue 2017: $30,116,083Expenses 2017: $30,071,362Net Income 2017: $44,7212017Revenue 2018: $30,068,877Expenses 2018: $30,741,955Net Income 2018: -$673,0782018Revenue 2019: $33,892,575Expenses 2019: $33,837,844Net Income 2019: $54,7312019Revenue 2020: $35,502,146Expenses 2020: $35,150,108Net Income 2020: $352,0382020Revenue 2021: $37,068,402Expenses 2021: $35,889,151Net Income 2021: $1,179,2512021Revenue 2022: $45,601,979Expenses 2022: $42,530,799Net Income 2022: $3,071,1802022Revenue 2023: $52,643,597Expenses 2023: $48,391,005Net Income 2023: $4,252,5922023Revenue 2024: $53,873,972Expenses 2024: $51,028,340Net Income 2024: $2,845,6322024

Highlighted filing

2020

Revenue$35,502,146
Expenses$35,150,108
Net Income$352,038
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 15, 2021
Return Version
2019v5.1
Gross Receipts
$35,502,146
Mission and Program Overview

Mission

Improve the public school system by creating a more competitive environment, providing parents and students with the freedom of choice and striving for a higher academic standard.

Improve the public school system by creating a more competitive environment,providing parents and students with the freedom of choice and striving for a higher academic standard

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$38,639,014$38,609,035▼ $29,979
Cash and Non-Interest-Bearing Accounts$4,532,954$4,847,499▲ $314,545
Investments in Publicly Traded Securities$2,137,670$2,330,208▲ $192,538
Accounts Receivable$948,521$1,369,853▲ $421,332
Prepaid Expenses and Deferred Charges$39,149$10,193▼ $28,956
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$50,293,518$50,081,839▼ $211,679
Other Assets Total$3,996,210$2,915,051▼ $1,081,159
Liabilities
Tax Exempt Bond Liabilities$41,856,316$41,318,824▼ $537,492
Accounts Payable and Accrued Expenses$2,711,154$2,853,540▲ $142,386
Unsecured Notes Loans Payable$736,828$566,199▼ $170,629
Deferred Revenue$603,713$478,011▼ $125,702
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$45,908,011$45,216,574▼ $691,437
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,385,507$4,865,265▲ $479,758
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$4,385,507$4,865,265▲ $479,758
Total Liabilities and Net Assets / Fund Balance$50,293,518$50,081,839▼ $211,679

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$31,065,933$2,439,222-
Land$6,029,094--
Equipment$1,337,363$6,146,870-
Leasehold Improvements$176,645$811,910-
Other Assets Org$2,785,929--
Compensation and Service Providers
Top Officer Pay11th percentile

Employees

NameTitleOtherTotal
Theodore FrederickPresident/executive Director$136,080$136,080

Board Members and Trustees

NameTitle
Benjamin BuchananDirector
Janna WisemanDirector
Jessica BrownDirector
Gary BaeSecretary - Nonvoting
Dr Gina ConflittiTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Leona Arizona Employment Group LLCContracted Services6150 NORTH 16th STREET SUITE A, Phoenix, AZ 85016$18,278,442
Leona Arizona Management LLCManagement Services6150 NORTH 16th STREET SUITE A, Phoenix, AZ 85016$3,919,255
Nutrition One LLCCatering9299 W OLIVE AVE STE 205, Peoria, AZ 85345$633,500
Lm Food Management Service LLCCatering3208 E BELL RD, Phoenix, AZ 85032$358,303
Banner Catering LLCCatering7621 E GREY RD SUITE H, Scottsdale, AZ 85260$293,299
Revenue and Support

Revenue Composition

Contributions and Grants
$35,258,391
Program Service Revenue
$0
Investment Income
$51,217
Other Revenue
$192,538
All Other Contributions
$1,197,533
Change in Net Assets
$352,038

Audited Revenue Reconciliation

Revenue per Audited Statements
$35,502,146
Total Revenue per Audited Statements
$35,502,146
Total Revenue per Form 990
$35,502,146
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$35,150,108
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$2,436,557--$2,436,557
Occupancy$1,459,719$142,315-$1,602,034
Depreciation Depletion$1,518,929--$1,518,929
Office Expenses$1,073,157$118,199-$1,191,356
Information Technology$796,393$163,890-$960,283
Other Expenses$376,039$152,207-$528,246
Total Functional Expenses$28,352,949$6,797,159$0$35,150,108

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$35,150,108
Total Expenses per Audited Statements$35,150,108
Total Expenses per Form 990$35,150,108
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AArizona Industrial Development Authority2016-12-21$30,908,004EDUCATION
BArizona Industrial Development Authority2019-04-18$12,656,456EDUCATION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$30,908,004$0$0$1,066,854
B$12,656,456$0$0$454,674

Bond Financing Compliance

Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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
Yes

Governance Explanations

Governing Body and Management - Part VI Section A Lines 8A and 8B

“The foundation documents all board meetings and does not have any committees.”

Policies - Part VI Section B Line 12C

“Each year the board members declare any relationships that might result in conflicts of interest. The president of the foundation monitors this to ensure that board members with possible conflicts of interest do not vote or make motions regarding areas of possible conflict.”

Governing Body and Management - Part VI Section B Line 11A

“The governing board reviews a draft copy of the form 990 before it is finalized.”

Governing Body and Management - Part VI Section A Line 3

“The foundation entered into a management agreement with leona arizona management, llc to provide essentially all the educational and operational services, management and employees necessary for the daily operation of the schools.”

Disclosure - Part VI Section C Line 19

“The governing documents, conflict of interest policy, and financial information are available upon request. Financial information for the schools is available at the arizona department of eduction website.”

Filing and Contact Details

Filer

Filer Name
Kaizen Education Foundation
EIN
80-0197489
In Care Of
% THEODORE FREDERICK
Phone
6029532933
Address
6150 NORTH 16th STREET Suite A, PHOENIX, AZ 85016

Signing Officer

Name
Theodore Frederick
Title
President
Phone
6022411200
Signed
2021-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Theodore Frederick
Formed
2008
Legal Domicile
Az
Voting Board Members
5
Independent Board Members
4
Employees
0

Preparer

Firm
Sarvas Coleman Edgell & Tobin Pc
Address
5050 NORTH 40TH STREET SUITE 310, PHOENIX, AZ 85018
Preparer
Terry B Sarvas CPA
Phone
6022411200
Supplemental Narrative

Additional Explanations

990 Page 12 Part XII Line 3B

“A single audit is currently being performed for the year ended june 30, 2020. At the time of filing, the single audit has not yet been completed.”

Financial Statement Notes

FIN48 Footnote

“The Foundation and the Schools are exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 43-1201(4) of the Arizona Revised Statues. However, the Organization remains subject to income taxes on any net income that is derived from a trade or business, regularly carried on and not in furtherance of the purpose for which it was granted exemption. The Organization has adopted the provisions of FASB ASC 740-10 (formerly FIN 48, "Accounting for Uncertainty in Income Taxes"), which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Organization's federal income tax returns are subject to examination by the Internal Revenue Service, generally for a period of three years after they were filed. Based on management's evaluation of the Organization's tax returns for the years ended June 30, 2017 through 2019, and tax positions expected to be taken for the year ended June 30, 2020, the Organization did not engage in activities or take uncertain tax positions that would jeopardize its tax-exempt status, or generate unrelated business income, which would be subject to taxation. In the event the Organization is assessed interest or penalties by major tax jurisdictions, it will be included in the provision for income taxes in the combined financial statements.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/MissionDesc0IMPROVE THE PUBLIC SCHOOL SYSTEM BY CREATING A MORE COMPETITIVE ENVIRONMENT, PROVIDING PARENTS AND STUDENTS WITH THE FREEDOM OF CHOICE AND STRIVING FOR A HIGHER ACADEMIC STANDARD.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13849835
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IRS990/OtherExpensesGrp/ProgramServicesAmt114481942
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IRS990/OtherExpensesGrp/TotalAmt118331777
IRS990/OtherExpensesGrp/TotalAmt2528246
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010193
IRS990/PrincipalOfficerNm0THEODORE FREDERICK
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Foundation and the Schools are exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 43-1201(4) of the Arizona Revised Statues. However, the Organization remains subject to income taxes on any net income that is derived from a trade or business, regularly carried on and not in furtherance of the purpose for which it was granted exemption. The Organization has adopted the provisions of FASB ASC 740-10 (formerly FIN 48, "Accounting for Uncertainty in Income Taxes"), which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Organization's federal income tax returns are subject to examination by the Internal Revenue Service, generally for a period of three years after they were filed. Based on management's evaluation of the Organization's tax returns for the years ended June 30, 2017 through 2019, and tax positions expected to be taken for the year ended June 30, 2020, the Organization did not engage in activities or take uncertain tax positions that would jeopardize its tax-exempt status, or generate unrelated business income, which would be subject to taxation. In the event the Organization is assessed interest or penalties by major tax jurisdictions, it will be included in the provision for income taxes in the combined financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt038609035
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02915051

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$50,081,839
Liabilities
$45,216,574
Net assets
$4,865,265
Revenue
$35,502,146
Expenses
$35,150,108
Net income
$352,038
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$67.4$51.2$16.2$53.9$51.0$2.85
2023Detailed filing. Detailed filing data is available for this year.$66.9$53.5$13.4$52.6$48.4$4.25
2022Detailed filing. Detailed filing data is available for this year.$53.7$44.6$9.12$45.6$42.5$3.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.7$44.6$6.04$37.1$35.9$1.18
2020Detailed filing. Detailed filing data is available for this year.$50.1$45.2$4.87$35.5$35.2$0.35
2019Summary only. Only limited summary data is available for this year.$50.3$45.9$4.39$33.9$33.8$0.05
2018Summary only. Only limited summary data is available for this year.$38.6$34.3$4.33$30.1$30.7$0.67
2017Summary only. Only limited summary data is available for this year.$38.6$33.6$5.00$30.1$30.1$0.04
2016Summary only. Only limited summary data is available for this year.$8.07$3.11$4.96$28.6$27.6$1.02
2015Summary only. Only limited summary data is available for this year.$7.35$3.41$3.94$28.7$27.4$1.26
2014Summary only. Only limited summary data is available for this year.$5.13$2.44$2.68$30.6$28.7$1.87
2013Summary only. Only limited summary data is available for this year.$3.87$3.06$0.81$26.3$25.6$0.63
2012Summary only. Only limited summary data is available for this year.$2.52$2.33$0.18$12.8$9.76$3.01