Civic Intelligence

Live Oak Classical Properties

EIN 81-1174136 • 501(c)2 • Waco, TX

990-N Coverage

Profile

To hold title to real property for the use of live oak classical school.

P O Box 647RWaco, TX 76703

none

Siviq Scores

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

Liabilities / Assets

39th percentile

0.06x

Higher debt load relative to assets than 39% of similar nonprofits.

501(c)2 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

44th percentile

1.40x

Higher debt load relative to revenue than 44% of similar nonprofits.

501(c)2 • $10M-$25M nonprofits • Source year 2024

Net Margin

66th percentile

43%

Higher net margin than 66% of similar nonprofits.

501(c)2 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

30th percentile

$0

Higher top officer pay than 30% of similar nonprofits.

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

501(c)2 • $10M-$25M nonprofits • Source year 2024

Asset Growth

48th percentile

-1.3%

Faster asset growth than 48% of similar nonprofits.

501(c)2 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

46th percentile

0.0%

Faster revenue growth than 46% of similar nonprofits.

501(c)2 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets39th percentile

Assets

Down

$12,557,382

Down $166,389 (-1.3%) from 2023

Liabilities

Down

$779,327

Down $98,271 (-11%) from 2023

Net Assets

Down

$11,778,055

Down $68,118 (-0.6%) from 2023

Operations
Liabilities / Revenue44th percentileNet Margin66th percentile

Revenue

Flat

$556,760

Flat from 2023

Expenses

Up

$318,836

Up $11,144 (+3.6%) from 2023

Net Income

Down

$237,924

Down $11,144 (-4.5%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth48th percentile

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

$15M$10M$5.0M$0Assets 2017: $8,194,629Liabilities 2017: $5,074,645Net Assets 2017: $3,119,9842017Assets 2018: $8,743,367Liabilities 2018: $4,579,591Net Assets 2018: $4,163,7762018Assets 2019: $8,691,536Liabilities 2019: $4,109,731Net Assets 2019: $4,581,8052019Assets 2020: $8,706,834Liabilities 2020: $3,629,911Net Assets 2020: $5,076,9232020Assets 2021: $10,006,701Liabilities 2021: $3,944,804Net Assets 2021: $6,061,8972021Assets 2022: $12,327,411Liabilities 2022: $972,097Net Assets 2022: $11,355,3142022Assets 2023: $12,723,771Liabilities 2023: $877,598Net Assets 2023: $11,846,1732023Assets 2024: $12,557,382Liabilities 2024: $779,327Net Assets 2024: $11,778,0552024

Highlighted filing

2024

Assets$12,557,382
Liabilities$779,327
Net Assets$11,778,055
Open 2024 Filing

Operations Trend

Revenue Growth46th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2017: $678,107Expenses 2017: $349,798Net Income 2017: $328,3092017Revenue 2018: $703,061Expenses 2018: $297,902Net Income 2018: $405,1592018Revenue 2019: $585,316Expenses 2019: $337,805Net Income 2019: $247,5112019Revenue 2020: $624,090Expenses 2020: $302,227Net Income 2020: $321,8632020Revenue 2021: $361,293Expenses 2021: $320,727Net Income 2021: $40,5662021Revenue 2022: $443,394Expenses 2022: $484,213Net Income 2022: -$40,8192022Revenue 2023: $556,760Expenses 2023: $307,692Net Income 2023: $249,0682023Revenue 2024: $556,760Expenses 2024: $318,836Net Income 2024: $237,9242024

Highlighted filing

2024

Revenue$556,760
Expenses$318,836
Net Income$237,924
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,557,382
Liabilities
$779,327
Net assets
$11,778,055
Revenue
$556,760
Expenses
$318,836
Net income
$237,924
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.6$0.78$11.8$0.56$0.32$0.24
2023Detailed filing. Detailed filing data is available for this year.$12.7$0.88$11.8$0.56$0.31$0.25
2022Detailed filing. Detailed filing data is available for this year.$12.3$0.97$11.4$0.44$0.48$0.04
2021Detailed filing. Detailed filing data is available for this year.$10.0$3.94$6.06$0.36$0.32$0.04
2020Detailed filing. Detailed filing data is available for this year.$8.71$3.63$5.08$0.62$0.30$0.32
2019Detailed filing. Detailed filing data is available for this year.$8.69$4.11$4.58$0.59$0.34$0.25
2018Detailed filing. Detailed filing data is available for this year.$8.74$4.58$4.16$0.70$0.30$0.41
2017Summary only. Only limited summary data is available for this year.$8.19$5.07$3.12$0.68$0.35$0.33
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$556,760
Mission and Program Overview

Mission

To hold title to real property for the use of live oak classical school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$12,718,911$12,552,522▼ $166,389
Cash and Non-Interest-Bearing Accounts$4,860$4,860→ $0
Total Assets$12,723,771$12,557,382▼ $166,389
Liabilities
Mortgage Notes Payable Secured by Investment Property$872,738$774,467▼ $98,271
Accounts Payable and Accrued Expenses$4,860$4,860→ $0
Total Liabilities$877,598$779,327▼ $98,271
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,846,173$11,778,055▼ $68,118
Total Net Assets Fund Balance$11,846,173$11,778,055▼ $68,118
Total Liabilities and Net Assets / Fund Balance$12,723,771$12,557,382▼ $166,389

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,246,169$1,943,284$12,189,453
Land$2,306,353-$2,306,353
Compensation and Service Providers
Top Officer Pay30th percentile

Board Members and Trustees

NameTitle
Scott OmoBoard Chair
Alison MoffattPresident
Colt KellyBoard Member
Callie ShrankSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$556,760
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$237,924
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$318,836
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
Depreciation Depletion$303,625--$303,625
Interest$15,211--$15,211
Total Functional Expenses$318,836$0$0$318,836
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 was provided to the board members before signing and filing.”

Form 990, Part VI, Section B, Line 12C

“The organization monitors the policy on an ongoing basis.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Live Oak Classical Properties
EIN
81-1174136
Phone
2547141007
Address
P O BOX 647R, WACO, TX 76703

Signing Officer

Name
Brice Helton
Title
Interim Head of School
Phone
2547141007
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brice Helton
Formed
2015
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Pattillo Brown & Hill Llp
Address
P O BOX 20725, WACO, TX 76702-0725
Preparer
Sharon M Herwald CPA
Phone
2547724901
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Net assets contributed during the year from locs -89,922. Net assets contributed during the year from locf -216,120.”

Financial Statement Notes

PART X, LINE 2:

“The organization was granted tax-exempt status under section 501(c)(3) of the internal revenue code. The organization has been classified as a publicly supported organization, which is not a private foundation under section 509(a)(1) and 170(b)(1)(a)(vi) of the code. The organization began collecting unrelated business taxable income ("ubti") in 2017 related to fees charged for parking and has prepared a form 990-t to pay the related tax. Therefore, a provision for income taxes is reflected in the combined financial statements for the year ended june 30, 2024 and 2023. The accounting standards on accounting for uncertainty in income taxes address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the organization and various positions related to the potential sources of ubti. The organization has recognized ubti for the years ended june 30, 2024 and 2023 and recorded the related provision for income tax in the amount of $0 and $0. The organization's tax returns are generally no longer subject to examination by the internal revenue service after three years.”

Raw XML Appendix276 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/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION WAS GRANTED TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED ORGANIZATION, WHICH IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(1) AND 170(B)(1)(A)(VI) OF THE CODE. THE ORGANIZATION BEGAN COLLECTING UNRELATED BUSINESS TAXABLE INCOME ("UBTI") IN 2017 RELATED TO FEES CHARGED FOR PARKING AND HAS PREPARED A FORM 990-T TO PAY THE RELATED TAX. THEREFORE, A PROVISION FOR INCOME TAXES IS REFLECTED IN THE COMBINED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2024 AND 2023. THE ACCOUNTING STANDARDS ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESS THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE ORGANIZATION AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UBTI. THE ORGANIZATION HAS RECOGNIZED UBTI FOR THE YEARS ENDED JUNE 30, 2024 AND 2023 AND RECORDED THE RELATED PROVISION FOR INCOME TAX IN THE AMOUNT OF $0 AND $0. THE ORGANIZATION'S TAX RETURNS ARE GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AFTER THREE YEARS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 WAS PROVIDED TO THE BOARD MEMBERS BEFORE SIGNING AND FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MONITORS THE POLICY ON AN ONGOING BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NET ASSETS CONTRIBUTED DURING THE YEAR FROM LOCS -89,922. NET ASSETS CONTRIBUTED DURING THE YEAR FROM LOCF -216,120.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
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IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRICE HELTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0INTERIM HEAD OF SCHOOL
ReturnHeader/BusinessOfficerGrp/PhoneNum02547141007
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIVE OAK CLASSICAL PROPERTIES
ReturnHeader/Filer/BusinessNameControlTxt0LIVE
ReturnHeader/Filer/EIN0811174136
ReturnHeader/Filer/PhoneNum02547141007
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 647R
ReturnHeader/Filer/USAddress/CityNm0WACO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd076703
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0741130599
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PATTILLO BROWN & HILL LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O BOX 20725
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WACO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0767020725
ReturnHeader/PreparerPersonGrp/PhoneNum02547724901
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHARON M HERWALD CPA
ReturnHeader/ReturnTs02025-05-15T11:01:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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