Civic Intelligence

Asu Prep Global Academy

990 • Fiscal year 2023 • EIN 82-1019991

Jul 01, 2022 to Jun 30, 2023 • Filed on Dec 27, 2023

Organization ProfileWWW.ASUPREPDIGITAL.ORG

View Organization Page

300 E University Dr Ste 210Tempe, AZ 85281

(480) 727-5809

Siviq Scores

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

Liabilities / Assets

79th percentile

0.59x

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

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

72nd percentile

0.77x

Higher debt load relative to revenue than 72% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

85th percentile

33%

Higher net margin than 85% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

97th percentile

143%

Faster asset growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

80th percentile

28%

Faster revenue growth than 80% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$31,371,118

Up $18,476,863 (+143%) from 2022

Net Assets

Up

$12,777,132

Up $8,008,037 (+168%) from 2022

Liabilities

Up

$18,593,986

Up $10,468,826 (+129%) from 2022

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin85th percentile

Revenue

Up

$24,135,904

Up $5,329,707 (+28%) from 2022

Expenses

Up

$16,127,867

Up $3,579,464 (+29%) from 2022

Net Income

Up

$8,008,037

Up $1,750,243 (+28%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$40M$30M$20M$10M$0-$10MAssets 2018: $243,194Liabilities 2018: $812,173Net Assets 2018: -$568,9792018Assets 2019: $2,510,073Liabilities 2019: $5,538,203Net Assets 2019: -$3,028,1302019Assets 2022: $12,894,255Liabilities 2022: $8,125,160Net Assets 2022: $4,769,0952022Assets 2023: $31,371,118Liabilities 2023: $18,593,986Net Assets 2023: $12,777,1322023Assets 2024: $26,448,050Liabilities 2024: $5,182,107Net Assets 2024: $21,265,9432024

Highlighted filing

2023

Assets$31,371,118
Liabilities$18,593,986
Net Assets$12,777,132
Open 2023 Filing

Operations Trend

Revenue Growth80th percentile

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

$30M$20M$10M$0-$10MRevenue 2018: $252,340Expenses 2018: $821,319Net Income 2018: -$568,9792018Revenue 2019: $1,221,407Expenses 2019: $1,364,277Net Income 2019: -$142,8702019Revenue 2022: $18,806,197Expenses 2022: $12,548,403Net Income 2022: $6,257,7942022Revenue 2023: $24,135,904Expenses 2023: $16,127,867Net Income 2023: $8,008,0372023Revenue 2024: $29,026,302Expenses 2024: $20,537,491Net Income 2024: $8,488,8112024

Highlighted filing

2023

Revenue$24,135,904
Expenses$16,127,867
Net Income$8,008,037
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Dec 27, 2023
Return Version
2022v5.0
Gross Receipts
$24,135,904
Mission and Program Overview

Mission

Asu prep global academy is advancing next-generation education models that transcend the traditional boundaries between high school and college and eliminates the barriers based on location, modality, background, and income so that all learners can thrive.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,688,034$17,328,462▲ $12,640,428
Cash and Non-Interest-Bearing Accounts$3,735,579$7,662,451▲ $3,926,872
Accounts Receivable$4,396,242$6,337,594▲ $1,941,352
Prepaid Expenses and Deferred Charges$74,400$42,611▼ $31,789
Total Assets$12,894,255$31,371,118▲ $18,476,863
Liabilities
Other Liabilities$3,772,391$14,183,428▲ $10,411,037
Accounts Payable and Accrued Expenses$3,001,860$4,224,649▲ $1,222,789
Deferred Revenue$1,350,909$185,909▼ $1,165,000
Total Liabilities$8,125,160$18,593,986▲ $10,468,826
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,769,095$12,777,132▲ $8,008,037
Total Net Assets Fund Balance$4,769,095$12,777,132▲ $8,008,037
Total Liabilities and Net Assets / Fund Balance$12,894,255$31,371,118▲ $18,476,863
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Julie YoungPresident an
Phillip NetolickyEd Budget &
Forrest ValoraTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$109,800
Program Service Revenue
$23,880,765
Investment Income
$140,453
Other Revenue
$4,886
All Other Contributions
$109,800
Change in Net Assets
$8,008,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,547,877
Salaries, Compensation, and Employee Benefits$6,579,990
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$4,754,523$4,010,402-$8,764,925
Other Salaries and Wages$4,246,646$1,024,088-$5,270,734
Other Employee Benefits$698,751$160,193-$858,944
Payroll Taxes$310,543$77,700-$388,243
Travel$76,698$90,627-$167,325
Pension Plan Contributions$49,244$12,825-$62,069
Office Expenses$37,917$15,234-$53,151
Occupancy$401$18,340-$18,741
Insurance-$3,730-$3,730
Other Expenses$180$43-$223
Total Functional Expenses$10,544,327$5,583,540$0$16,127,867
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$14,183,428
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The sole member of asu prep global academy is asu preparatory academy, an organization exempt from taxation under internal revenue code section 501 (c)(3).”

Form 990, Page 6, Part VI, Line 7A

“Asu prep global academy's tax-exempt sole member appoints the directors and officers.”

Form 990, Page 6, Part VI, Line 7B

“Asu prep global academy's tax-exempt sole member retains approval rights over key decisions such as changes to the articles of incorporation, bylaws, and adoption of the business plan prepared annually by the board of directors.”

Form 990, Page 6, Part VI, Line 11B

“A draft of the completed form 990 is provided to certain officers, accounting staff, and each board member for review. The return will be filed after any clarifications and corrections have been made.”

Form 990, Page 6, Part VI, Line 12C

“Any board member or employee of the school who has, or whose relative has, a substantial interest in any contract, sale, purchase, or service to the school shall make known that interest in the official records of the school and shall refrain from voting upon or otherwise participating in any manner as a board member or employee in such contract, sale or purchase. The board must approve each purchase from a board member, and the amount of the purchase or contract for purchase shall be included in the minutes of the meeting at which the board approves the purchase.”

Form 990, Page 6, Part VI, Line 19

“All documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Asu Prep Global Academy
EIN
82-1019991
Phone
4807275809
Address
300 E UNIVERSITY DR STE 210, TEMPE, AZ 85281

Signing Officer

Name
Phillip Netolicky
Title
Ed Budget & Finance
Phone
4807275809
Signed
2023-12-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phillip Netolicky
Formed
2016
Legal Domicile
Az
Voting Board Members
1
Independent Board Members
1
Employees
60

Preparer

Firm
Fester & Chapman Pllc
Address
9019 E BAHIA DR STE 100, SCOTTSDALE, AZ 85260
Preparer
Rachel Locke CPA
Phone
6022643077
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Asu prep global academy is advancing next-generation education models that transcend the traditional boundaries between high school and college and eliminates the barriers based on location, modality, background, and income so that all learners can thrive.”

Form 990, Part IX, Line 11G

“Professional services 4,754,523 4,010,402 0”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ASU PREP GLOBAL ACADEMY IS ADVANCING NEXT-GENERATION EDUCATION MODELS THAT TRANSCEND THE TRADITIONAL BOUNDARIES BETWEEN HIGH SCHOOL AND COLLEGE AND ELIMINATES THE BARRIERS BASED ON LOCATION, MODALITY, BACKGROUND, AND INCOME SO THAT ALL LEARNERS CAN THRIVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOLE MEMBER OF ASU PREP GLOBAL ACADEMY IS ASU PREPARATORY ACADEMY, AN ORGANIZATION EXEMPT FROM TAXATION UNDER INTERNAL REVENUE CODE SECTION 501 (C)(3).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ASU PREP GLOBAL ACADEMY'S TAX-EXEMPT SOLE MEMBER APPOINTS THE DIRECTORS AND OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ASU PREP GLOBAL ACADEMY'S TAX-EXEMPT SOLE MEMBER RETAINS APPROVAL RIGHTS OVER KEY DECISIONS SUCH AS CHANGES TO THE ARTICLES OF INCORPORATION, BYLAWS, AND ADOPTION OF THE BUSINESS PLAN PREPARED ANNUALLY BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A DRAFT OF THE COMPLETED FORM 990 IS PROVIDED TO CERTAIN OFFICERS, ACCOUNTING STAFF, AND EACH BOARD MEMBER FOR REVIEW. THE RETURN WILL BE FILED AFTER ANY CLARIFICATIONS AND CORRECTIONS HAVE BEEN MADE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ANY BOARD MEMBER OR EMPLOYEE OF THE SCHOOL WHO HAS, OR WHOSE RELATIVE HAS, A SUBSTANTIAL INTEREST IN ANY CONTRACT, SALE, PURCHASE, OR SERVICE TO THE SCHOOL SHALL MAKE KNOWN THAT INTEREST IN THE OFFICIAL RECORDS OF THE SCHOOL AND SHALL REFRAIN FROM VOTING UPON OR OTHERWISE PARTICIPATING IN ANY MANNER AS A BOARD MEMBER OR EMPLOYEE IN SUCH CONTRACT, SALE OR PURCHASE. THE BOARD MUST APPROVE EACH PURCHASE FROM A BOARD MEMBER, AND THE AMOUNT OF THE PURCHASE OR CONTRACT FOR PURCHASE SHALL BE INCLUDED IN THE MINUTES OF THE MEETING AT WHICH THE BOARD APPROVES THE PURCHASE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7PROFESSIONAL SERVICES 4,754,523 4,010,402 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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ReturnHeader/PreparerPersonGrp/PreparationDt02023-12-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RACHEL LOCKE CPA
ReturnHeader/ReturnTs02024-01-02T17:17:51-05:00
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ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PHILLIP
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NETOLICKY
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,371,118
Liabilities
$18,593,986
Net assets
$12,777,132
Revenue
$24,135,904
Expenses
$16,127,867
Net income
$8,008,037
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$26.4$5.18$21.3$29.0$20.5$8.49
2023Detailed filing. Detailed filing data is available for this year.$31.4$18.6$12.8$24.1$16.1$8.01
2022Detailed filing. Detailed filing data is available for this year.$12.9$8.13$4.77$18.8$12.5$6.26
2019Detailed filing. Detailed filing data is available for this year.$2.51$5.54$3.03$1.22$1.36$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.24$0.81$0.57$0.25$0.82$0.57