Civic Intelligence

Kaizen Educational Foundation

990 • Fiscal year 2022 • EIN 80-0197489

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 15, 2023

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

87th percentile

0.83x

Higher debt load relative to assets than 87% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.98x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

50th percentile

6.7%

Higher net margin than 50% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

11th percentile

$136,080

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

68th percentile

5.9%

Faster asset growth than 68% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

77th percentile

23%

Faster revenue growth than 77% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$53,687,317

Up $2,999,382 (+5.9%) from 2021

Net Assets

Up

$9,115,696

Up $3,071,180 (+51%) from 2021

Liabilities

Down

$44,571,621

Down $71,798 (-0.2%) from 2021

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin50th percentile

Revenue

Up

$45,601,979

Up $8,533,577 (+23%) from 2021

Expenses

Up

$42,530,799

Up $6,641,648 (+19%) from 2021

Net Income

Up

$3,071,180

Up $1,891,929 (+160%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth68th 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

2022

Assets$53,687,317
Liabilities$44,571,621
Net Assets$9,115,696
Open 2022 Filing

Operations Trend

Revenue Growth77th 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

2022

Revenue$45,601,979
Expenses$42,530,799
Net Income$3,071,180
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 15, 2023
Return Version
2021v4.2
Gross Receipts
$45,601,979
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$37,311,422$36,753,712▼ $557,710
Cash and Non-Interest-Bearing Accounts$6,528,915$8,754,267▲ $2,225,352
Accounts Receivable$1,477,363$2,862,175▲ $1,384,812
Investments in Publicly Traded Securities$2,229,496$2,011,279▼ $218,217
Prepaid Expenses and Deferred Charges$21,349$801▼ $20,548
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$50,687,935$53,687,317▲ $2,999,382
Other Assets Total$3,119,390$3,305,083▲ $185,693
Liabilities
Tax Exempt Bond Liabilities$40,753,412$40,159,626▼ $593,786
Accounts Payable and Accrued Expenses$2,838,730$3,043,875▲ $205,145
Deferred Revenue$657,879$1,081,723▲ $423,844
Unsecured Notes Loans Payable$393,398$286,397▼ $107,001
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$44,643,419$44,571,621▼ $71,798
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,044,516$9,115,696▲ $3,071,180
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$6,044,516$9,115,696▲ $3,071,180
Total Liabilities and Net Assets / Fund Balance$50,687,935$53,687,317▲ $2,999,382

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$29,547,002$4,013,337-
Land$6,029,094--
Equipment$1,004,147$6,846,127-
Leasehold Improvements$173,469$1,182,683-
Other Assets Org$21,600--
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 IncContracted Services6150 NORTH 16th STREET SUITE A, Phoenix, AZ 85016$20,613,082
Leona Arizona Management LLCManagement Services6150 NORTH 16th STREET SUITE A, Phoenix, AZ 85016$4,667,801
Nutrition One LLCCatering9299 W OLIVE AVE STE 205, Peoria, AZ 85345$1,137,019
Mariposa Therapy ServicesTherapy Services1 W ELLIOT ROAD SUITE 109, Tempe, AZ 85284$329,020
Lm Food Management Service LLCCatering3208 E BELL RD, Phoenix, AZ 85032$236,144
Revenue and Support

Revenue Composition

Contributions and Grants
$45,772,721
Program Service Revenue
$0
Investment Income
$47,475
Other Revenue
$-218,217
All Other Contributions
$1,185,261
Change in Net Assets
$3,071,180

Audited Revenue Reconciliation

Revenue per Audited Statements
$45,601,979
Total Revenue per Audited Statements
$45,601,979
Total Revenue per Form 990
$45,601,979
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$42,530,799
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$2,359,707--$2,359,707
Office Expenses$1,653,771$158,389-$1,812,160
Occupancy$1,574,205$163,736-$1,737,941
Information Technology$1,213,607$188,349-$1,401,956
Depreciation Depletion$1,251,893--$1,251,893
Other Expenses$301,061$129,213-$430,274
Total Functional Expenses$33,962,895$8,567,904$0$42,530,799

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$42,530,799
Total Expenses per Audited Statements$42,530,799
Total Expenses per Form 990$42,530,799
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$12,656,436EDUCATION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$30,908,004$0$0$1,066,854
B$12,656,436$0$0$434,674

Bond Financing Compliance

No rebate due
Yes
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 education 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
2023-02-15
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 & Tobin Pc
Address
5050 NORTH 40TH STREET SUITE 310, PHOENIX, AZ 85018
Preparer
Terry B Sarvas CPA
Phone
6022411200
Supplemental Narrative

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. 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/NetAssetsOrFundBalancesEOYAmt09115696
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IRS990/OccupancyGrp/TotalAmt01737941
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0158389
IRS990/OfficeExpensesGrp/ProgramServicesAmt01653771
IRS990/OfficeExpensesGrp/TotalAmt01812160
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03119390
IRS990/OtherAssetsTotalGrp/EOYAmt03305083
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IRS990/OtherExpensesGrp/Desc1PERSONNEL
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03233970
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14694247
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2129213
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IRS990/OtherExpensesGrp/ProgramServicesAmt118031216
IRS990/OtherExpensesGrp/ProgramServicesAmt2301061
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IRS990/OtherExpensesGrp/TotalAmt122725463
IRS990/OtherExpensesGrp/TotalAmt2430274
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IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021349
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0801
IRS990/PrincipalOfficerNm0THEODORE FREDERICK
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
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IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RoyaltiesGrp/TotalAmt00
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt321600
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REFUNDABLE DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESTRICTED CASH
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM RELATED PARTY
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3CONSTRUCTION IN PROGRESS

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$53,687,317
Liabilities
$44,571,621
Net assets
$9,115,696
Revenue
$45,601,979
Expenses
$42,530,799
Net income
$3,071,180
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