Liabilities / Assets
94th percentile
Higher debt load relative to assets than 94% of similar nonprofits.
Legacy Traditional School-Phoenix
990 • Fiscal year 2018 • EIN 82-1928006
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
1.03x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Revenue Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Balance Sheet
Assets
Flat$27,624,432
Flat from 2018
Net Assets
Flat-$788,350
Flat from 2018
Liabilities
Flat$28,412,782
Flat from 2018
Revenue And Expenses
Revenue
Flat$0
Flat from 2018
Expenses
Flat$788,350
Flat from 2018
Net Income
Flat-$788,350
Flat from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2017 to Jun 30, 2018
- Signed
- Apr 8, 2019
- Return Version
- 2017v2.3
- Gross Receipts
- $0
Mission and Program Overview
Mission
To provide motivated students with the opportunity to achieve academic excellence in an accelerated, back-to-basics, safe learning environment taught by caring, knowledgeable and highly effective educators in cooperation with supportive, involved parents.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $0 | $18,419,134 | ▲ $18,419,134 |
| Savings and Temporary Cash Investments | - | $8,909,903 | - |
| Other Notes and Loans Receivable, Net | - | $134,413 | - |
| Loans From Officers Directors | - | $129,661 | - |
| Prepaid Expenses and Deferred Charges | - | $83,759 | - |
| Cash and Non-Interest-Bearing Accounts | - | $77,098 | - |
| Accounts Receivable | - | $125 | - |
| Total Assets | $0 | $27,624,432 | ▲ $27,624,432 |
| Liabilities | |||
| Tax Exempt Bond Liabilities | - | $25,231,481 | - |
| Accounts Payable and Accrued Expenses | - | $3,051,640 | - |
| Total Liabilities | $0 | $28,412,782 | ▲ $28,412,782 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $0 | $-788,350 | ▼ $788,350 |
| Total Net Assets Fund Balance | $0 | $-788,350 | ▼ $788,350 |
| Total Liabilities and Net Assets / Fund Balance | $0 | $27,624,432 | ▲ $27,624,432 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Other Land Buildings | $14,132,443 | - | $14,132,443 |
| Land | $4,286,691 | - | $4,286,691 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Nathan Schlink | President |
| Cory Theobald | Director |
| Derek Samuel | Director |
| Diego Gettler | Director |
| Heather Jones | Director |
| Brandon Jones | CEO |
| Jenni Ferrin | Secretary |
| Aaron Hale | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Provestus Development Solutions LLC | Construction Management Services | 2543 E SCORPIO PL, Chandler, AZ 85249 | $405,088 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $0
- Change in Net Assets
- $-788,350
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $726,909 |
| Salaries, Compensation, and Employee Benefits | $61,441 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Management | $125,000 | - | - | $125,000 |
| Advertising | $113,737 | - | - | $113,737 |
| Interest | $106,831 | - | - | $106,831 |
| Depreciation Depletion | - | $93,317 | - | $93,317 |
| Other Salaries and Wages | $49,939 | - | - | $49,939 |
| Occupancy | - | $33,971 | - | $33,971 |
| Office Expenses | $14,465 | - | - | $14,465 |
| Information Technology | $9,383 | - | - | $9,383 |
| Other Employee Benefits | $6,826 | - | - | $6,826 |
| Payroll Taxes | $4,676 | - | - | $4,676 |
| Other Expenses | $1,545 | - | - | $1,545 |
| Fees for Services Accounting | - | $100 | - | $100 |
| Insurance | - | $46 | - | $46 |
| Travel | $40 | - | - | $40 |
| Total Functional Expenses | $660,916 | $127,434 | $0 | $788,350 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Interested-Person Transactions
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| - | 100% CONTROLLED ENTITY OF TWO CURRENT OFFICERS AND ONE FORMER OFFICER | Developement Fees | No | $405,088 |
| - | 100% CONTROLLED ENTITY OF ONE CURRENT OFFICER AND ONE FORMER OFFICER | Management Fees | No | $125,000 |
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | - | $129,661 | - |
Debt and Bond Financing
Bond Issues
| Bond | Issuer | Issued | Issue Price | Purpose |
|---|---|---|---|---|
| A | The Industrial Development Authority of the City of Phoenix Arizona | 2017-10-25 | $25,517,250 | FINANCING CHARTER SCHOOL |
Bond Proceeds
| Bond | Total Proceeds | Spent | Retired | Issuance Costs |
|---|---|---|---|---|
| A | $25,517,250 | - | - | $584,617 |
Bond Financing Compliance
- No rebate due
- No
- Rebate not yet due
- Yes
- Form 8038-T filed
- No
- Gross proceeds invested
- No
- Gross proceeds invested in GIC
- No
- Exception to rebate
- No
- Corrective action procedures
- Yes
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- 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
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- Yes
Governance Explanations
Form 990, Part VI, Section A, Line 2
“Nathan schlink, the organization's president, and cory theobald, director, have a family relationship with the organization's treasurer, aaron hale. Aaron hale, treasurer, and brandon jones, ceo, have a business relationship.”
Form 990, Part VI, Section A, Line 3
“The school has a management services agreement with vertex eduction, llc. In accordance with the management service agreement, vertex education provides assistance with the operations and management of the school in the areas of school development, financial services, human resources, information systems, facilities management and food services. The school also has an agreement with vertex education for program development, branding, marketing, enrollment tracking, personnel training and supervision, invoicing, and collection services related to the lkc before and after school programs.”
Form 990, Part VI, Section A, Line 8B
“The organization does not have any committee with authority to act on behalf of the governing body.”
Form 990, Part VI, Section B, Line 11B
“The form 990 is emailed to each of the organization's governing board members for review prior to being filed.”
Form 990, Part VI, Section B, Line 12C
“Each officer, director, trustee, or key employee must annually sign a statement that affirms that such person has received a copy of the conflict of interest policy, has read and understands the policy and has agreed to comply with the policy. If any person who is a director or officer is aware that the organization is about to enter into any business transaction directly or indirectly with such person, any member of that person's family, or any entity in which that person has any legal, equitable or fiduciary interest or position, such person shall (a) immediately inform those charged with approving the transaction on behalf of the organization of such person's interest or position, (b) aid the persons charged with making the decision by disclosing any material facts within such person's knowledge that bear on the advisability of such transaction from the standpoint of the organization, and (c) not be entitiled to vote on the decision to enter into such transaction. A copy of the conflict of interest policy will be maintained in the corporate records, and the board will review that policy on an annual basis.”
Form 990, Part VI, Section C, Line 19
“Certain of the organization's governing documents are available to the public through websites of state government agencies. The organization considers specific requests for its governing documents, conflict of interest policy, and financial statements on a case-by-case basis.”
FORM 990, PART VI, SECTION C, LINE 17:
“Educational organizations exempt under ars section 43-1201(4) are not required to file a copy of their federal form 990 with the state of arizona.”
Filing and Contact Details
Filer
- Filer Name
- Legacy Traditional School - Phoenix
- EIN
- 82-1928006
- Phone
- 4802705438
- Address
- 3125 S GILBERT ROAD, CHANDLER, AZ 85286
Signing Officer
- Name
- Nathan Schlink
- Title
- President
- Phone
- 4802705438
- Signed
- 2019-04-08
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Nathan Schlink
- Formed
- 2017
- Legal Domicile
- Az
- Voting Board Members
- 6
- Independent Board Members
- 6
- Employees
- 0
- Volunteers
- 6
Preparer
- Firm
- Schmidt Westergard & Company Pllc
- Address
- 77 WEST UNIVERSITY DRIVE, MESA, AZ 85201-5830
- Preparer
- Kelly M White
- Phone
- 4808346030
Raw XML AppendixShowing 400 of 645 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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| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 125 |
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| IRS990/ActivityOrMissionDesc | 0 | TO PROVIDE MOTIVATED STUDENTS WITH THE OPPORTUNITY TO ACHIEVE ACADEMIC EXCELLENCE IN AN ACCELERATED, BACK-TO-BASICS, SAFE LEARNING ENVIRONMENT TAUGHT BY CARING, KNOWLEDGEABLE AND HIGHLY EFFECTIVE EDUCATORS IN COOPERATION WITH SUPPORTIVE, INVOLVED PARENTS. |
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| IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt | 0 | PROVESTUS DEVELOPMENT SOLUTIONS LLC |
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| IRS990/Desc | 0 | DURING THE CURRENT YEAR, THE ORGANIZATION WAS PREPARING ITSELF TO PROVIDED HIGH QUALITY EDUCATIONAL SERVICES TO STUDENTS IN KINDERGARTEN THROUGH 8TH GRADE ON THE ORGANIZATION'S CAMPUS LOCATED IN PHOENIX, ARIZONA. THE STUDENTS WILL EXPERIENCE A WELL-ROUNDED EDUCATION THAT INCLUDES READING, WRITING, MATHEMATICS, SCIENCE, SOCIAL STUDIES, HISTORY, MUSIC, ART, AND PHYSICAL EDUCATION, AS WELL AS EXTRACURRICULAR ACTIVITIES LIKE ATHLETICS, CLUBS, FIELD TRIPS, AND DAILY TUTORING. |
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| IRS990/EmploymentTaxReturnsFiledInd | 0 | 1 |
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| IRS990/ExpenseAmt | 0 | 660916 |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | HEATHER JONES |
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| IRS990/MissionDesc | 0 | TO PROVIDE MOTIVATED STUDENTS WITH THE OPPORTUNITY TO ACHIEVE ACADEMIC EXCELLENCE IN AN ACCELERATED, BACK-TO-BASICS, SAFE LEARNING ENVIRONMENT TAUGHT BY CARING, KNOWLEDGEABLE AND HIGHLY EFFECTIVE EDUCATORS IN COOPERATION WITH SUPPORTIVE, INVOLVED PARENTS. |
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| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 6826 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 6826 |
| IRS990/OtherExpensesGrp/Desc | 0 | BOND FEES |
| IRS990/OtherExpensesGrp/Desc | 1 | SUPPLIES |
| IRS990/OtherExpensesGrp/Desc | 2 | DUES AND FEES |
| IRS990/OtherExpensesGrp/Desc | 3 | STUDENT/EMPLOYEE RECOGN |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 210132 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 11643 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 6699 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 1545 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 210132 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 11643 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 6699 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 1545 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 49939 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 49939 |
| IRS990/OthNotesLoansReceivableNetGrp/EOYAmt | 0 | 134413 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 4676 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 4676 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 83759 |
| IRS990/PrincipalOfficerNm | 0 | NATHAN SCHLINK |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 0 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 0 |
| IRS990/PYOtherExpensesAmt | 0 | 0 |
| IRS990/PYOtherRevenueAmt | 0 | 0 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 0 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 0 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 0 |
| IRS990/PYTotalExpensesAmt | 0 | 0 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 0 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -788350 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 1 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 0 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 8909903 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 0 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 4286691 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 4286691 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 14132443 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 14132443 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 18419134 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | 0 |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | 1 |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | 1 |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | 0 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | 1 |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | 0 |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION'S STAFF INFORMS INTERESTED PARENTS AND STUDENTS OF THE RACIALLY NONDISCRIMINATORY POLICY IN THE ENROLLMENT PROCESS. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | THE SCHOOL DOES NOT OFFER SCHOLARSHIPS OR FINANCIAL ASSISTANCE. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, PART I, LINE 3 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE E, PART I, LINE 4 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd | 0 | 1 |
| IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt | 0 | (A) ISSUER NAME: THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX, ARIZONA |
| IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt | 1 | (E) ISSUE PRICE: UNDER A BOND INDENTURE AND RELATED AGREEMENTS DATED SEPTEMBER 14, 2017, THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX, ARIZONA, A GOVERNMENTAL ISSUER, ISSUED EDUCATION FACILITY REVENUE BONDS (LEGACY TRADITIONAL SCHOOLS EAST MESA AND CADENCE (NEVADA) CAMPUSES) SERIES 2017A AND LOANED THE PROCEEDS THEREOF TO LEGACY TRADITIONAL SCHOOL - EAST MESA, AS REPRESENTATIVE OF AN OBLIGATED GROUP (DEFINED BELOW), FOR THE PURPOSE OF FINANCING THE COSTS OF ACQUIRING, CONSTRUCTING AND EQUIPPING THE CAMPUS FACILITIES OF THIS ORGANIZATION, ONE OF THE MEMBERS OF THE OBLIGATED GROUP. THE MEMBERS OF THE OBLIGATED GROUP ARE JOINTLY AND SEVERALLY LIABILE FOR THE ENTIRE BOND ISSUE. HOWEVER, THE AMOUNT OF THE ISSUE PRICE IN ITEM (E) (AND THE AMOUNTS SHOWN IN PART II) COMPRISES THE ENTIRE ISSUE, ALL OF WHICH IS ALLOCATED TO FINANCING THE CAMPUS FACILITIES OF THIS ORGANIZATION. OBLIGATED GROUP DEFINITION: AS OF JUNE 30, 2018, THE "OBLIGATED GROUP" INCLUDED THE FOLLOWING ORGANIZATIONS: (1) LEGACY TRADITIONAL SCHOOL - EAST MESA, (2) LEGACY TRADITIONAL SCHOOLS - NEVADA, INC., AND (3) LEGACY TRADITIONAL SCHOOL - PHOENIX. |
| IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE K, PART I, COLUMN A, ITEM (A): |
| IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE K, PART I, COLUMN A, ITEM (E): |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt | 0 | 2017-10-25 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN | 0 | 522038405 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum | 0 | 71885FFL6 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt | 0 | 25517250 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt | 0 | THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX ARIZONA |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc | 0 | FINANCING CHARTER SCHOOL |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/EngageBondCounselContractsInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusConcerningUBIPct | 0 | 0.00000 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusUseByOthersPct | 0 | 0.00000 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/TotalPrivateBusinessUsePct | 0 | 0.00000 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt | 0 | 23063574 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt | 0 | 1735517 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt | 0 | 133522 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt | 0 | 584617 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr | 0 | 2018 |
| IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt | 0 | 25517250 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt | 0 | VERTEX EDUCATION LLC |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt | 1 | PROVESTUS DEVELOPEMENT SOLUTIONS LLC |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 0 | 100% CONTROLLED ENTITY OF ONE CURRENT OFFICER AND ONE FORMER OFFICER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 1 | 100% CONTROLLED ENTITY OF TWO CURRENT OFFICERS AND ONE FORMER OFFICER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 0 | 0 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 1 | 0 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt | 0 | 125000 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt | 1 | 405088 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 0 | MANAGEMENT FEES |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 1 | DEVELOPEMENT FEES |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt | 0 | 129661 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd | 0 | 1 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt | 0 | VERTEX EDUCATION LLC |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd | 0 | 0 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt | 0 | OPERATIONS |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd | 0 | X |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt | 0 | 129661 |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 0 | 100% CONTROLLED ENTITY OF ONE CURRENT OFFICER AND ONE FORMER OFFICER |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd | 0 | 0 |
| IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt | 0 | THE SCHOOL RECEIVES ADVANCES FROM VERTEX EDUCATION, LLC. THESE BALANCES INCLUDE INTEREST AT 10% FOR ADVANCES AND UNPAID MANAGEMENT FEES. THESE BALANCES ARE DUE ON DEMAND AND ARE UNCOLLATERALIZED. |
| IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt | 1 | THE SCHOOL HAS A MANAGEMENT SERVICES AGREEMENT WITH VERTEX EDUCATION, LLC. AARON HALE AND HIS SPOUSE ARE MEMBERS OF VERTEX EDUCATION. AARON HALE SERVES AS AN OFFICER OF THE SCHOOL.IN ACCORDANCE WITH THE MANAGEMENT SERVICE AGREEMENT, VERTEX EDUCATION PROVIDES ASSISTANCE WITH THE OPERATIONS AND MANAGEMENT OF THE SCHOOL IN THE AREAS OF SCHOOL DEVELOPMENT, FINANCIAL SERVICES, HUMAN RESOURCES, INFORMATION SYSTEMS, FACILITIES MANAGEMENT AND FOOD SERVICES. |
| IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: |
| IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: |
| IRS990ScheduleL/TotalBalanceDueAmt | 0 | 129661 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | NATHAN SCHLINK, THE ORGANIZATION'S PRESIDENT, AND CORY THEOBALD, DIRECTOR, HAVE A FAMILY RELATIONSHIP WITH THE ORGANIZATION'S TREASURER, AARON HALE. AARON HALE, TREASURER, AND BRANDON JONES, CEO, HAVE A BUSINESS RELATIONSHIP. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE SCHOOL HAS A MANAGEMENT SERVICES AGREEMENT WITH VERTEX EDUCTION, LLC. IN ACCORDANCE WITH THE MANAGEMENT SERVICE AGREEMENT, VERTEX EDUCATION PROVIDES ASSISTANCE WITH THE OPERATIONS AND MANAGEMENT OF THE SCHOOL IN THE AREAS OF SCHOOL DEVELOPMENT, FINANCIAL SERVICES, HUMAN RESOURCES, INFORMATION SYSTEMS, FACILITIES MANAGEMENT AND FOOD SERVICES. THE SCHOOL ALSO HAS AN AGREEMENT WITH VERTEX EDUCATION FOR PROGRAM DEVELOPMENT, BRANDING, MARKETING, ENROLLMENT TRACKING, PERSONNEL TRAINING AND SUPERVISION, INVOICING, AND COLLECTION SERVICES RELATED TO THE LKC BEFORE AND AFTER SCHOOL PROGRAMS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE ORGANIZATION DOES NOT HAVE ANY COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE FORM 990 IS EMAILED TO EACH OF THE ORGANIZATION'S GOVERNING BOARD MEMBERS FOR REVIEW PRIOR TO BEING FILED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | EACH OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE MUST ANNUALLY SIGN A STATEMENT THAT AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY AND HAS AGREED TO COMPLY WITH THE POLICY. IF ANY PERSON WHO IS A DIRECTOR OR OFFICER IS AWARE THAT THE ORGANIZATION IS ABOUT TO ENTER INTO ANY BUSINESS TRANSACTION DIRECTLY OR INDIRECTLY WITH SUCH PERSON, ANY MEMBER OF THAT PERSON'S FAMILY, OR ANY ENTITY IN WHICH THAT PERSON HAS ANY LEGAL, EQUITABLE OR FIDUCIARY INTEREST OR POSITION, SUCH PERSON SHALL (A) IMMEDIATELY INFORM THOSE CHARGED WITH APPROVING THE TRANSACTION ON BEHALF OF THE ORGANIZATION OF SUCH PERSON'S INTEREST OR POSITION, (B) AID THE PERSONS CHARGED WITH MAKING THE DECISION BY DISCLOSING ANY MATERIAL FACTS WITHIN SUCH PERSON'S KNOWLEDGE THAT BEAR ON THE ADVISABILITY OF SUCH TRANSACTION FROM THE STANDPOINT OF THE ORGANIZATION, AND (C) NOT BE ENTITILED TO VOTE ON THE DECISION TO ENTER INTO SUCH TRANSACTION. A COPY OF THE CONFLICT OF INTEREST POLICY WILL BE MAINTAINED IN THE CORPORATE RECORDS, AND THE BOARD WILL REVIEW THAT POLICY ON AN ANNUAL BASIS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | CERTAIN OF THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC THROUGH WEBSITES OF STATE GOVERNMENT AGENCIES. THE ORGANIZATION CONSIDERS SPECIFIC REQUESTS FOR ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ON A CASE-BY-CASE BASIS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | EDUCATIONAL ORGANIZATIONS EXEMPT UNDER ARS SECTION 43-1201(4) ARE NOT REQUIRED TO FILE A COPY OF THEIR FEDERAL FORM 990 WITH THE STATE OF ARIZONA. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION A, LINE 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION A, LINE 3 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION A, LINE 8B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART VI, SECTION C, LINE 17: |
| IRS990ScheduleR/AssetExchangeInd | 0 | 0 |
| IRS990ScheduleR/AssetPurchaseFromOtherOrgInd | 0 | 1 |
| IRS990ScheduleR/AssetSaleToOtherOrgInd | 0 | 1 |
| IRS990ScheduleR/DivRelatedOrganizationInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd | 0 | 0 |
| IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 0 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 1 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 2 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 3 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 4 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 5 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 6 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 7 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 8 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 9 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 10 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 11 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 12 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd | 13 | 0 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 0 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 1 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 2 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 3 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 4 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 5 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 6 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 7 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 8 | N/A |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2018 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $27,624,432
- Liabilities
- $28,412,782
- Net assets
- -$788,350
- Revenue
- $0
- Expenses
- $788,350
- Net income
- -$788,350