Civic Intelligence

Ascent Classical Academy Charter Schools Inc.

990 • Fiscal year 2019 • EIN 82-3791408

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 17, 2019

Organization Profiledougco.ascentclassical.org
601 Corporate Circle Suite AGolden, CO 80401

(720) 531-8775

Siviq Scores

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

Liabilities / Assets

96th percentile

1.48x

Higher debt load relative to assets than 96% of similar nonprofits.

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

Liabilities / Revenue

60th percentile

0.14x

Higher debt load relative to revenue than 60% of similar nonprofits.

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

Net Margin

28th percentile

-4.5%

Higher net margin than 28% of similar nonprofits.

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

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

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

Asset Growth

97th percentile

183%

Faster asset growth than 97% of similar nonprofits.

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

Revenue Growth

100th percentile

2081%

Faster revenue growth than 100% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$335,288

Up $216,950 (+183%) from 2018

Net Assets

Down

-$161,704

Down $155,808 (-2643%) from 2018

Liabilities

Up

$496,992

Up $372,758 (+300%) from 2018

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin28th percentile

Revenue

Up

$3,437,369

Up $3,279,771 (+2081%) from 2018

Expenses

Up

$3,593,211

Up $3,429,717 (+2098%) from 2018

Net Income

Down

-$155,842

Down $149,946 (-2543%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$100M$50M$0-$50MAssets 2018: $118,338Liabilities 2018: $124,234Net Assets 2018: -$5,8962018Assets 2019: $335,288Liabilities 2019: $496,992Net Assets 2019: -$161,7042019Assets 2020: $1,118,093Liabilities 2020: $820,297Net Assets 2020: $297,7962020Assets 2021: $1,923,848Liabilities 2021: $775,325Net Assets 2021: $1,148,5232021Assets 2022: $7,199,247Liabilities 2022: $4,228,447Net Assets 2022: $2,970,8002022Assets 2023: $7,690,520Liabilities 2023: $2,694,908Net Assets 2023: $4,995,6122023Assets 2024: $84,628,076Liabilities 2024: $81,720,553Net Assets 2024: $2,907,5232024

Highlighted filing

2019

Assets$335,288
Liabilities$496,992
Net Assets-$161,704
Open 2019 Filing

Operations Trend

Revenue Growth100th percentile

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

$60M$40M$20M$0-$20MRevenue 2018: $157,598Expenses 2018: $163,494Net Income 2018: -$5,8962018Revenue 2019: $3,437,369Expenses 2019: $3,593,211Net Income 2019: -$155,8422019Revenue 2020: $5,644,786Expenses 2020: $5,185,286Net Income 2020: $459,5002020Revenue 2021: $8,954,893Expenses 2021: $8,069,166Net Income 2021: $885,7272021Revenue 2022: $14,781,015Expenses 2022: $12,958,738Net Income 2022: $1,822,2772022Revenue 2023: $18,782,096Expenses 2023: $16,757,284Net Income 2023: $2,024,8122023Revenue 2024: $41,541,745Expenses 2024: $43,629,834Net Income 2024: -$2,088,0892024

Highlighted filing

2019

Revenue$3,437,369
Expenses$3,593,211
Net Income-$155,842
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 17, 2019
Return Version
2018v3.1
Gross Receipts
$3,437,369
Mission and Program Overview

Mission

Ascent Classical Academy of Douglas County was established to develop within its students the intellectual and personal habits and skills upon which responsible, independent and productive lives are built, in the firm belief that such lives are the basis of a free society.

Ascent Classical Academies trains the minds and improves the hearts of young people through a classical content-rich education in the liberal arts and sciences, with instruction in the principles of moral character and civic virtue in an orderly and disciplined environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$100,958$253,215▲ $152,257
Accounts Receivable-$82,073-
Pledges and Grants Receivable$17,380--
Total Assets$118,338$335,288▲ $216,950
Liabilities
Unsecured Notes Loans Payable-$329,000-
Accounts Payable and Accrued Expenses$124,234$148,515▲ $24,281
Deferred Revenue-$19,477-
Total Liabilities$124,234$496,992▲ $372,758
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$115,000-
Unrestricted Net Assets$-5,896$-276,704▼ $270,808
Total Net Assets Fund Balance$-5,896$-161,704▼ $155,808
Total Liabilities and Net Assets / Fund Balance$118,338$335,288▲ $216,950
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Rob WilliamsChairman & Treasurer
Stephen GilmartinVice Chair
Keith WilkinsonDirector
Lisa HoffmanDirector
Derec ShulerExecutive Director
Allen FullerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$408,505
Program Service Revenue
$3,028,864
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-155,842

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,437,369
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,437,369
Total Revenue per Form 990
$3,437,369
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,593,211
Total Fundraising Expense$7,965
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$470,184$82,974-$553,158
Fees for Services Other$285,318$50,351-$335,669
Insurance$19,083$3,368-$22,451
Fees for Services Legal$14,258$2,516-$16,774
Travel$11,455$2,021-$13,476
Interest$9,953$1,757-$11,710
Office Expenses$6,437$1,136-$7,573
Other Expenses$4,563$766$7,965$5,329
All Other Expenses$4,320$396-$4,716
Information Technology$3,934$694-$4,628
Advertising$3,453$609-$4,062
Fees for Services Accounting$1,023$180-$1,203
Total Functional Expenses$3,081,478$503,768$7,965$3,593,211

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,593,211
Total Expenses per Audited Statements$3,593,211
Total Expenses per Form 990$3,593,211
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
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
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“On October 17, 2017, the School entered into a Management Agreement (Agreement) with Ascent Classical Academies (Ascent), a non-profit Colorado corporation. The Agreement continues until termination or expiration of the charter contract. Substantially all functions of the School have been contracted to Ascent. Ascent is responsible and accountable to the School's Board of Directors for the administration, operation and performance of the School in accordance with the School's contract with District to operate the School. The School pays Ascent a monthly continuing fee of 8% of qualified gross revenues received by the School, net of any required withholding, for services performed.”

Form 990, Part VI, Section B, line 11B

“Copies of the Form 990 are provided to board members for approval before filing.”

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

“Copies of the Form 990 are provided to board members for approval before filing.”

Form 990, Part VI, Section B, line 15

“Periodic reviews are conducted to verify that any compensation arrangements are reasonable and that partnerships, joint ventures, and other arrangements, conform to school policies.”

Form 990, Part VI, Section C, line 19

“Financial information for of the organization can be obtained by contacting the school”

Filing and Contact Details

Filer

Filer Name
Ascent Classical Academy
EIN
82-3791408
Phone
7205318775
Address
601 Corporate Circle Suite A, Golden, CO 80401

Signing Officer

Name
Derec Shuler
Title
Executive Director
Phone
7205318775
Signed
2019-12-17
Discuss with paid preparer
No

Organization Details

Principal Officer
Derec Shuler
Formed
2017
Legal Domicile
Co
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
10

Preparer

Firm
Hoelting & Company Inc
Address
31 E Platte Ave Ste 300, Colorado Springs, CO 80903
Preparer
Thomas G Sistare
Phone
7196301091
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Adjustment to Net Assets on 2017 Form 990 to adjust to actual. 34.”

Form 990, Part XII, Line 2C:

“The finance committee oversees audit services and selection of independent auditors. This has not changed from the prior year.”

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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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The policy is included on the website enrollment page and on the letter of Intent to Enroll forms.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The School relies on per pupil revenue and other revenue that is distributed by the Colorado Department of Education.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0On October 17, 2017, the School entered into a Management Agreement (Agreement) with Ascent Classical Academies (Ascent), a non-profit Colorado corporation. The Agreement continues until termination or expiration of the charter contract. Substantially all functions of the School have been contracted to Ascent. Ascent is responsible and accountable to the School's Board of Directors for the administration, operation and performance of the School in accordance with the School's contract with District to operate the School. The School pays Ascent a monthly continuing fee of 8% of qualified gross revenues received by the School, net of any required withholding, for services performed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Copies of the Form 990 are provided to board members for approval before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Copies of the Form 990 are provided to board members for approval before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Periodic reviews are conducted to verify that any compensation arrangements are reasonable and that partnerships, joint ventures, and other arrangements, conform to school policies.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Financial information for of the organization can be obtained by contacting the school
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Adjustment to Net Assets on 2017 Form 990 to adjust to actual. 34.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The finance committee oversees audit services and selection of independent auditors. This has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, line 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XII, Line 2c:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0814708299
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0CO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Education Service Provider
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Ascent Classical Academies
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0601 Corporate Circle
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Golden
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0CO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd080401
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0270894
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Management Fees
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Ascent Classical Academies
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0L
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0115000
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0118338
IRS990/TotalAssetsEOYAmt0335288
IRS990/TotalAssetsGrp/BOYAmt0118338
IRS990/TotalAssetsGrp/EOYAmt0335288
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0408505
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt07965
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0503768
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03081478
IRS990/TotalFunctionalExpensesGrp/TotalAmt03593211
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0124234
IRS990/TotalLiabilitiesEOYAmt0496992
IRS990/TotalLiabilitiesGrp/BOYAmt0124234
IRS990/TotalLiabilitiesGrp/EOYAmt0496992
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-5896
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-161704
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03081478
IRS990/TotalProgramServiceRevenueAmt03028864
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03028864
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03437369
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0118338
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0335288
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt02021
IRS990/TravelGrp/ProgramServicesAmt011455
IRS990/TravelGrp/TotalAmt013476
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-5896
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-276704
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0329000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0601 Corporate Circle Suite A
IRS990/USAddress/CityNm0Golden
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd080401
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0dougco.ascentclassical.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd00
ReturnHeader/BusinessOfficerGrp/PersonNm0Derec Shuler
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum07205318775

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$335,288
Liabilities
$496,992
Net assets
-$161,704
Revenue
$3,437,369
Expenses
$3,593,211
Net income
-$155,842
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$84.6$81.7$2.91$41.5$43.6$2.09
2023Detailed filing. Detailed filing data is available for this year.$7.69$2.69$5.00$18.8$16.8$2.02
2022Detailed filing. Detailed filing data is available for this year.$7.20$4.23$2.97$14.8$13.0$1.82
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.92$0.78$1.15$8.95$8.07$0.89
2020Detailed filing. Detailed filing data is available for this year.$1.12$0.82$0.30$5.64$5.19$0.46
2019Detailed filing. Detailed filing data is available for this year.$0.34$0.50$0.16$3.44$3.59$0.16
2018Detailed filing. Detailed filing data is available for this year.$0.12$0.12$0.01$0.16$0.16$0.01