Civic Intelligence

Live Oak Classical Properties

990 • Fiscal year 2020 • EIN 81-1174136

Jul 01, 2019 to Jun 30, 2020 • Filed on Jun 11, 2021

Organization ProfileNONE
P O Box 647RWaco, TX 76703

(254) 714-1007

Siviq Scores

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

Liabilities / Assets

54th percentile

0.42x

Higher debt load relative to assets than 54% of similar nonprofits.

2020 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

61st percentile

5.82x

Higher debt load relative to revenue than 61% of similar nonprofits.

2020 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2020

Net Margin

72nd percentile

52%

Higher net margin than 72% of similar nonprofits.

2020 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2020 filings • 501(c)2 • $5M-$10M nonprofits • Source year 2020

Asset Growth

67th percentile

0.2%

Faster asset growth than 67% of similar nonprofits.

2020 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

70th percentile

6.6%

Faster revenue growth than 70% of similar nonprofits.

2020 filings • 501(c)2 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets54th percentile

Assets

Up

$8,706,834

Up $15,298 (+0.2%) from 2019

Net Assets

Up

$5,076,923

Up $495,118 (+11%) from 2019

Liabilities

Down

$3,629,911

Down $479,820 (-12%) from 2019

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin72nd percentile

Revenue

Up

$624,090

Up $38,774 (+6.6%) from 2019

Expenses

Down

$302,227

Down $35,578 (-11%) from 2019

Net Income

Up

$321,863

Up $74,352 (+30%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$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

2020

Assets$8,706,834
Liabilities$3,629,911
Net Assets$5,076,923
Open 2020 Filing

Operations Trend

Revenue Growth70th percentile

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$624,090
Expenses$302,227
Net Income$321,863
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jun 11, 2021
Return Version
2019v5.2
Gross Receipts
$624,090
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$8,663,150$8,678,448▲ $15,298
Cash and Non-Interest-Bearing Accounts$28,386$28,386→ $0
Total Assets$8,691,536$8,706,834▲ $15,298
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,081,345$3,601,525▼ $479,820
Accounts Payable and Accrued Expenses$28,386$28,386→ $0
Total Liabilities$4,109,731$3,629,911▼ $479,820
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,581,805$5,076,923▲ $495,118
Total Net Assets Fund Balance$4,581,805$5,076,923▲ $495,118
Total Liabilities and Net Assets / Fund Balance$8,691,536$8,706,834▲ $15,298

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,360,116$985,163$7,345,279
Land$2,292,617-$2,292,617
Other Land Buildings$25,715-$25,715
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Dennis TuckerPast President
Alison MoffattPresident
Jeremy CounsellerBoard Member
Marcus BrooksSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$624,090
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$321,863
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$302,227
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-$180,937-$180,937
Interest-$121,290-$121,290
Total Functional Expenses$0$302,227$0$302,227
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
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
Alison Moffatt
Title
President
Phone
2547141007
Signed
2021-06-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alison Moffatt
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 173,255.”

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 relted 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 consolidated financial statements for the year ended june 30, 2020 and 2019. 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, 2020 and 2019 and recorded the related provision for income tax in the amount of $3,386 and $4,162. The organization's tax returns are generally no longer subject to examination by the internal revenue service after three years.”

Raw XML Appendix271 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 RELTED 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 CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2020 AND 2019. 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, 2020 AND 2019 AND RECORDED THE RELATED PROVISION FOR INCOME TAX IN THE AMOUNT OF $3,386 AND $4,162. THE ORGANIZATION'S TAX RETURNS ARE GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AFTER THREE YEARS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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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 173,255.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/PreparerPersonGrp/PhoneNum02547724901
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHARON M HERWALD CPA
ReturnHeader/ReturnTs02021-06-14T18:03:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$8,706,834
Liabilities
$3,629,911
Net assets
$5,076,923
Revenue
$624,090
Expenses
$302,227
Net income
$321,863
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