Civic Intelligence

Kinetic Academy

990 • Fiscal year 2018 • EIN 81-1454510

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 19, 2019

721 Utica AveHuntington Beach, CA 92648

(714) 465-4565

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.53x

Higher debt load relative to assets than 82% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

61st percentile

0.16x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

63rd percentile

8.5%

Higher net margin than 63% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

81st percentile

$138,640

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

14th percentile

-9.6%

Faster asset growth than 14% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

67th percentile

13%

Faster revenue growth than 67% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$884,537

Down $93,804 (-9.6%) from 2017

Net Assets

Up

$417,347

Up $243,222 (+140%) from 2017

Liabilities

Down

$467,190

Down $337,026 (-42%) from 2017

Revenue

Up

$2,860,041

Up $324,587 (+13%) from 2017

Expenses

Up

$2,616,819

Up $255,490 (+11%) from 2017

Net Income

Up

$243,222

Up $69,097 (+40%) from 2017

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2017: $978,341Liabilities 2017: $804,216Net Assets 2017: $174,1252017Assets 2018: $884,537Liabilities 2018: $467,190Net Assets 2018: $417,3472018Assets 2019: $995,137Liabilities 2019: $445,929Net Assets 2019: $549,2082019Assets 2020: $1,111,052Liabilities 2020: $240,637Net Assets 2020: $870,4152020Assets 2021: $1,425,415Liabilities 2021: $505,997Net Assets 2021: $919,4182021Assets 2022: $1,194,847Liabilities 2022: $287,752Net Assets 2022: $907,0952022Assets 2023: $3,161,701Liabilities 2023: $2,279,056Net Assets 2023: $882,6452023Assets 2024: $2,689,034Liabilities 2024: $1,737,523Net Assets 2024: $951,5112024

Highlighted filing

2018

Assets$884,537
Liabilities$467,190
Net Assets$417,347

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $2,535,454Expenses 2017: $2,361,329Net Income 2017: $174,1252017Revenue 2018: $2,860,041Expenses 2018: $2,616,819Net Income 2018: $243,2222018Revenue 2019: $2,929,829Expenses 2019: $2,797,968Net Income 2019: $131,8612019Revenue 2020: $2,912,630Expenses 2020: $2,591,423Net Income 2020: $321,2072020Revenue 2021: $2,912,409Expenses 2021: $2,863,406Net Income 2021: $49,0032021Revenue 2022: $3,655,483Expenses 2022: $3,667,806Net Income 2022: -$12,3232022Revenue 2023: $4,334,197Expenses 2023: $4,358,647Net Income 2023: -$24,4502023Revenue 2024: $5,173,449Expenses 2024: $5,104,583Net Income 2024: $68,8662024

Highlighted filing

2018

Revenue$2,860,041
Expenses$2,616,819
Net Income$243,222
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 19, 2019
Return Version
2017v2.3
Gross Receipts
$2,860,041
Mission and Program Overview

Mission

Through an interdisciplinary educational experience, kinetic academy seeks to prepare students for 21st century careers as members of democratic society through intersiciplinary educational experience that provides them with a foundation for their lifetime.

To operate a california public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$263,781$484,155▲ $220,374
Accounts Receivable$646,578$361,940▼ $284,638
Loans From Officers Directors$154,950--
Prepaid Expenses and Deferred Charges$45,748$21,260▼ $24,488
Land, Buildings, and Equipment, Net$22,234$17,182▼ $5,052
Total Assets$978,341$884,537▼ $93,804
Liabilities
Unsecured Notes Loans Payable$427,847$354,952▼ $72,895
Accounts Payable and Accrued Expenses$221,419$112,238▼ $109,181
Total Liabilities$804,216$467,190▼ $337,026
Net Assets / Fund Balance
Unrestricted Net Assets$174,125$417,347▲ $243,222
Total Net Assets Fund Balance$174,125$417,347▲ $243,222
Total Liabilities and Net Assets / Fund Balance$978,341$884,537▼ $93,804

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$17,182$8,078$25,260
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bre LionettiExecutive DirectorFT$121,157$17,483$138,640

Board Members and Trustees

NameTitle
Jeffrey BallBoard Chair
Michele AsayVice Chair
Bret MccarrollMember
Charlene ReedMember
Kalman HutchensSecretary
Christine ShewbridgeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,858,572
Program Service Revenue
$0
Investment Income
$1,469
Other Revenue
$0
All Other Contributions
$107,111
Change in Net Assets
$243,222

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,860,041
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,860,041
Total Revenue per Form 990
$2,860,041
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,524,416
Other Expenses$1,092,403
Total Fundraising Expense$21,493
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$975,143$58,688-$1,033,831
Occupancy$285,509$12,061-$297,570
Payroll Taxes$245,460--$245,460
Fees for Services Other$211,873$10,649-$222,522
Fees for Services Accounting$163,249--$163,249
Other Employee Benefits$123,968--$123,968
Current Officers, Directors, Trustees, and Key Employees$121,157--$121,157
Office Expenses$12,849-$21,493$34,342
Insurance$24,690$1,048-$25,738
Other Expenses$19,805$918-$19,805
Interest$18,881$769-$19,650
Information Technology$18,429--$18,429
Travel$8,200--$8,200
Conferences and Meetings$6,046--$6,046
Depreciation Depletion$4,846$206-$5,052
All Other Expenses$2,984--$2,984
Total Functional Expenses$2,510,533$84,793$21,493$2,616,819

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,616,819
Total Expenses per Audited Statements$2,616,819
Total Expenses per Form 990$2,616,819
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$154,950--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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 financial management firm, the director and the board members are given a draft of the form 990 prepared by the independent audit/tax firm and it is reviewed and any necessary corrections are made prior to the form 990 being finalized.

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

Form 700's are completed annually by the board of trustees

Form 990, Part VI, Section B, Line 15

The process for determining executive compensation involves the review and approval by the board of directors after obtaining comparability data and advice from independent sources.

Form 990, Part VI, Section C, Line 19

Required documents are available at the business address during normal business hours

Filing and Contact Details

Filer

Filer Name
Kinetic Academy
EIN
81-1454510
Phone
7144654565
Address
721 UTICA AVE, HUNTINGTON BEACH, CA 92648

Signing Officer

Name
Bre Lionetti
Title
Executive Director
Phone
7144654565
Signed
2019-04-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bre Lionetti
Formed
2016
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
38
Volunteers
0

Preparer

Firm
Vavrinek Trine Day & Co Llp
Address
10681 FOOTHILL BLVD SUITE 300, RANCHO CUCAMONGA, CA 91730
Preparer
Matthew S Miller
Phone
9094664410
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The charter school has adopted financial accounting standards board (fasb) accounting standards codification (asc) topic 740 that clarifies the accounting uncertainty in tax positions taken or expected to be taken on a tax return and provides that the tax effects from an uncertain tax position can be recognized in the financials statements only if, based on its merits, the position is more likely than not to be sustained on audit by the taxing authorities. Mangement believes that all tax positions taken to date are highly certain, and, accordingly, no accounting adjustment has been made to the financial statements.

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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 CHARTER SCHOOL HAS ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) TOPIC 740 THAT CLARIFIES THE ACCOUNTING UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN AND PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIALS STATEMENTS ONLY IF, BASED ON ITS MERITS, THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT BY THE TAXING AUTHORITIES. MANGEMENT BELIEVES THAT ALL TAX POSITIONS TAKEN TO DATE ARE HIGHLY CERTAIN, AND, ACCORDINGLY, NO ACCOUNTING ADJUSTMENT HAS BEEN MADE TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt02616819
IRS990ScheduleD/TotalRevenuePerForm990Amt02860041
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02860041
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02616819
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/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0CALIFORNIA PUBLIC CHARTER SCHOOL NO FINANCIAL ASSISTANCE AWARDED
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1CALIFORNIA STATE APPORTIONMENT REVENUE BASED ON STUDENT ATTENDANCE
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0JEFFREY BALL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0START UP EXPENSES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0154950
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0BOARD MEMBER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FINANCIAL MANAGEMENT FIRM, THE DIRECTOR AND THE BOARD MEMBERS ARE GIVEN A DRAFT OF THE FORM 990 PREPARED BY THE INDEPENDENT AUDIT/TAX FIRM AND IT IS REVIEWED AND ANY NECESSARY CORRECTIONS ARE MADE PRIOR TO THE FORM 990 BEING FINALIZED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 700'S ARE COMPLETED ANNUALLY BY THE BOARD OF TRUSTEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PROCESS FOR DETERMINING EXECUTIVE COMPENSATION INVOLVES THE REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS AFTER OBTAINING COMPARABILITY DATA AND ADVICE FROM INDEPENDENT SOURCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REQUIRED DOCUMENTS ARE AVAILABLE AT THE BUSINESS ADDRESS DURING NORMAL BUSINESS HOURS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0978341
IRS990/TotalAssetsEOYAmt0884537
IRS990/TotalAssetsGrp/BOYAmt0978341
IRS990/TotalAssetsGrp/EOYAmt0884537
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02858572
IRS990/TotalEmployeeCnt038
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt021493
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt084793
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02510533
IRS990/TotalFunctionalExpensesGrp/TotalAmt02616819
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0804216
IRS990/TotalLiabilitiesEOYAmt0467190
IRS990/TotalLiabilitiesGrp/BOYAmt0804216
IRS990/TotalLiabilitiesGrp/EOYAmt0467190
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0174125
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0417347
IRS990/TotalOtherCompensationAmt017483
IRS990/TotalProgramServiceExpensesAmt02510533
IRS990/TotalReportableCompFromOrgAmt0121157
IRS990/TotalRevenueGrp/ExclusionAmt01469
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02860041
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0978341
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0884537
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt08200
IRS990/TravelGrp/TotalAmt08200
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0174125
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0417347
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0427847
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0354952
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0721 UTICA AVE
IRS990/USAddress/CityNm0HUNTINGTON BEACH
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd092648
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.KINETICACADEMY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRE LIONETTI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07144654565
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KINETIC ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0KINE
ReturnHeader/Filer/EIN0811454510
ReturnHeader/Filer/PhoneNum07144654565
ReturnHeader/Filer/USAddress/AddressLine1Txt0721 UTICA AVE
ReturnHeader/Filer/USAddress/CityNm0HUNTINGTON BEACH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092648
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0EF78A066AA266E63D008F3CAE190064D4650BDAC
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0A13E1C2F53F6D70272DDD0BCD01585D7BC58B38B
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt023.251.222.146
ReturnHeader/FilingSecurityInformation/IPDt02019-04-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm011:06:41
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0952648289
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VAVRINEK TRINE DAY & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010681 FOOTHILL BLVD SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RANCHO CUCAMONGA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091730
ReturnHeader/PreparerPersonGrp/PhoneNum09094664410
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW S MILLER
ReturnHeader/ReturnTs02019-05-09T19:35:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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