Civic Intelligence

Kinetic Academy

990 • Fiscal year 2019 • EIN 81-1454510

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 21, 2020

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

79th percentile

0.45x

Higher debt load relative to assets than 79% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

61st percentile

0.15x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

54th percentile

4.5%

Higher net margin than 54% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

85th percentile

$157,683

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

71st percentile

13%

Faster asset growth than 71% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

46th percentile

2.4%

Faster revenue growth than 46% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$995,137

Up $110,600 (+13%) from 2018

Net Assets

Up

$549,208

Up $131,861 (+32%) from 2018

Liabilities

Down

$445,929

Down $21,261 (-4.6%) from 2018

Revenue

Up

$2,929,829

Up $69,788 (+2.4%) from 2018

Expenses

Up

$2,797,968

Up $181,149 (+6.9%) from 2018

Net Income

Down

$131,861

Down $111,361 (-46%) from 2018

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

2019

Assets$995,137
Liabilities$445,929
Net Assets$549,208

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

2019

Revenue$2,929,829
Expenses$2,797,968
Net Income$131,861
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 21, 2020
Return Version
2018v3.2
Gross Receipts
$2,929,829
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
Accounts Receivable$361,940$653,182▲ $291,242
Cash and Non-Interest-Bearing Accounts$484,155$277,559▼ $206,596
Prepaid Expenses and Deferred Charges$21,260$52,266▲ $31,006
Land, Buildings, and Equipment, Net$17,182$12,130▼ $5,052
Total Assets$884,537$995,137▲ $110,600
Liabilities
Accounts Payable and Accrued Expenses$112,238$295,925▲ $183,687
Unsecured Notes Loans Payable$354,952$150,004▼ $204,948
Total Liabilities$467,190$445,929▼ $21,261
Net Assets / Fund Balance
Unrestricted Net Assets$417,347$549,208▲ $131,861
Total Net Assets Fund Balance$417,347$549,208▲ $131,861
Total Liabilities and Net Assets / Fund Balance$884,537$995,137▲ $110,600

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$12,130$13,130$25,260
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bre LionettiExecutive DirectorFT$127,820$29,863$157,683

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
$2,922,700
Program Service Revenue
$0
Investment Income
$7,129
Other Revenue
$0
All Other Contributions
$122,743
Change in Net Assets
$131,861

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,929,829
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,929,829
Total Revenue per Form 990
$2,929,829
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,965,121
Other Expenses$832,847
Total Fundraising Expense$17,421
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,241,383$46,606-$1,287,989
Payroll Taxes$385,954$13,121-$399,075
Occupancy$261,035$279-$261,314
Other Employee Benefits$145,325$4,912-$150,237
Fees for Services Other$129,270--$129,270
Current Officers, Directors, Trustees, and Key Employees$127,820--$127,820
Fees for Services Accounting$75,590$13,326-$88,916
All Other Expenses$32,410$814$17,421$50,645
Information Technology$29,781--$29,781
Other Expenses$21,386$964-$21,386
Insurance$14,917$647-$15,564
Interest$12,837$509-$13,346
Fees for Services Legal$9,750--$9,750
Travel$8,738--$8,738
Advertising$6,806--$6,806
Depreciation Depletion$5,052--$5,052
Total Functional Expenses$2,697,510$83,037$17,421$2,797,968

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,797,968
Total Expenses per Audited Statements$2,797,968
Total Expenses per Form 990$2,797,968
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
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
2020-07-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bre Lionetti
Formed
2016
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
7
Employees
42
Volunteers
125

Preparer

Firm
Eide Bailly Llp
Address
10681 FOOTHILL BLVD STE 300, RANCHO CUCAMONGA, CA 91730-3831
Preparer
Catherine L Gray
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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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:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt012130
IRS990ScheduleD/TotalExpensesPerForm990Amt02797968
IRS990ScheduleD/TotalRevenuePerForm990Amt02929829
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02929829
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02797968
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
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0127820
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt021164
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt08699
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRE LIONETTI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0157683
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0START UP EXPENSES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0154950
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0JEFFREY BALL
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0884537
IRS990/TotalAssetsEOYAmt0995137
IRS990/TotalAssetsGrp/BOYAmt0884537
IRS990/TotalAssetsGrp/EOYAmt0995137
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt02922700
IRS990/TotalEmployeeCnt042
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt017421
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt083037
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02697510
IRS990/TotalFunctionalExpensesGrp/TotalAmt02797968
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0467190
IRS990/TotalLiabilitiesEOYAmt0445929
IRS990/TotalLiabilitiesGrp/BOYAmt0467190
IRS990/TotalLiabilitiesGrp/EOYAmt0445929
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0417347
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0549208
IRS990/TotalOtherCompensationAmt029863
IRS990/TotalProgramServiceExpensesAmt02697510
IRS990/TotalReportableCompFromOrgAmt0127820
IRS990/TotalRevenueGrp/ExclusionAmt07129
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02929829
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0125
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0884537
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0995137
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt08738
IRS990/TravelGrp/TotalAmt08738
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0417347
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0549208
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0354952
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0150004
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0721 UTICA AVE
IRS990/USAddress/CityNm0HUNTINGTON BEACH
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd092648
IRS990/VotingMembersGoverningBodyCnt07

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