Civic Intelligence

Aequitas Education

990 • Fiscal year 2020 • EIN 83-1080761

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 11, 2022

Organization Profileaequitaseducation.org
104 E Aztec AveGallup, NM 87301

(505) 862-9498

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$4,385,414

Up $3,499,092 (+395%) from 2019

Net Assets

Up

$1,153

Up $222,330 (+101%) from 2019

Liabilities

Up

$4,384,261

Up $3,276,762 (+296%) from 2019

Revenue And Expenses

Revenue

Up

$649,019

Up $178,792 (+38%) from 2019

Expenses

Up

$511,476

Up $92,311 (+22%) from 2019

Net Income

Up

$137,543

Up $86,481 (+169%) from 2019

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2019: $886,322Liabilities 2019: $1,107,499Net Assets 2019: -$221,1772019Assets 2020: $7,993,027Liabilities 2020: $7,512,445Net Assets 2020: $480,5822020Assets 2020: $4,385,414Liabilities 2020: $4,384,261Net Assets 2020: $1,1532020Assets 2021: $7,972,232Liabilities 2021: $7,745,371Net Assets 2021: $226,8612021Assets 2022: $7,740,158Liabilities 2022: $7,293,304Net Assets 2022: $446,8542022Assets 2023: $8,540,718Liabilities 2023: $7,680,173Net Assets 2023: $860,5452023Assets 2024: $8,502,031Liabilities 2024: $7,194,983Net Assets 2024: $1,307,0482024

Highlighted filing

2020

Assets$4,385,414
Liabilities$4,384,261
Net Assets$1,153
Open 2020 Filing

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $470,227Expenses 2019: $419,165Net Income 2019: $51,0622019Revenue 2020: $1,397,741Expenses 2020: $695,982Net Income 2020: $701,7592020Revenue 2020: $649,019Expenses 2020: $511,476Net Income 2020: $137,5432020Revenue 2021: $643,296Expenses 2021: $417,588Net Income 2021: $225,7082021Revenue 2022: $542,741Expenses 2022: $672,748Net Income 2022: -$130,0072022Revenue 2023: $719,209Expenses 2023: $305,518Net Income 2023: $413,6912023Revenue 2024: $898,668Expenses 2024: $452,165Net Income 2024: $446,5032024

Highlighted filing

2020

Revenue$649,019
Expenses$511,476
Net Income$137,543
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 11, 2022
Return Version
2020v4.0
Gross Receipts
$754,081
Mission and Program Overview

Mission

Supporting high-quality education in the liberal arts for all people.Classical Learning: Proper education does not rely on modern tricks or gimmicks for learning, but rather on the self-discipline of students and the natural joy of learning the True, the Good, and the Beautiful.High Expectations: Proper education is one that upholds a standard of excellence and is based on the truth that students will achieve their best potential when challenged with high expectations.Moral Character: Students educated in a holistic program are more likely to develop a strong moral character and live a life of virtue.Civic Virtue: Students should be taught not only how to excel in academics, but also how to excel in their communities and how to act for the Common Good of all.

Supporting high-quality education in the liberal arts for all people with classical learning, high expectations, moral character and civic virtue.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$750,000$4,098,817▲ $3,348,817
Cash and Non-Interest-Bearing Accounts$21,322$201,027▲ $179,705
Accounts Receivable$115,000$85,570▼ $29,430
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$886,322$4,385,414▲ $3,499,092
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,100,999$4,027,761▲ $2,926,762
Other Liabilities-$350,000-
Accounts Payable and Accrued Expenses$6,500$6,500→ $0
Total Liabilities$1,107,499$4,384,261▲ $3,276,762
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-221,177$1,153▲ $222,330
Total Net Assets Fund Balance$-221,177$1,153▲ $222,330
Total Liabilities and Net Assets / Fund Balance$886,322$4,385,414▲ $3,499,092

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,203,817-$3,203,817
Land$895,000-$895,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Patrick T MasonPresident
Michael D ByrneVice President
Shane TerrillSecretary/Tres.
Revenue and Support

Revenue Composition

Contributions and Grants
$754,081
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-105,062
All Other Contributions
$631,081
Change in Net Assets
$137,543

Audited Revenue Reconciliation

Revenue per Audited Statements
$649,019
Revenue Not Reported on Form 990
$105,062
Total Revenue per Audited Statements
$754,081
Total Revenue per Form 990
$649,019
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$340,879
Other Expenses$170,597
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$340,879--$340,879
Interest-$137,854-$137,854
Insurance-$23,903-$23,903
Occupancy$6,862--$6,862
Other Expenses$300$1,678-$300
Total Functional Expenses$348,041$163,435$0$511,476

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$616,538
Expenses per Audited Statements$511,476
Total Expenses per Form 990$511,476
Expenses Not Reported on Form 990$105,062
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Hozho AcademyGallup, NM501(c)(3)Operation grant$196,316
Life is SacredGallup, NM501(c)(3)Operation grnat$93,888
Albuquerque CollegiateAlbuquerque, NM501(c)(3)Operation grant$50,675
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit$350,000
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Shane Terrill is Brother-In Law of Patrick Mason.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The organization provides a copy of this Form 990 to all members of its governing body before filing with IRS.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Aequitas Education has a conflict of interest policy which includes having all new board members sign an acknowledgement they have read and understood the policy. All board members are required annually and in writing to disclose all businesses or other organizations of which they receive compensation or remuneration of any sort, with which Aequitas Education competes or with which Aequitas Education has, or might reasonably in the future enter into, a relationship or a transaction. Aequitas Education also has a policy directing the Board Chair and other Board Members on how to disclose a potential conflict of interest when issues are discussed or voted on, which includes disclosure and the party removing themselves from the meeting during discussion and vote.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents, policies, financial statements and the IRS Form 990 are made available to the public upon request within three working days of the date the request was made.”

Filing and Contact Details

Filer

Filer Name
Aequitas Education
EIN
83-1080761
Phone
5058629498
Address
104 E Aztec Ave, Gallup, NM 87301

Signing Officer

Name
Patrick T Mason
Title
President
Signed
2022-04-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick T Mason
Formed
2017
Legal Domicile
Nm
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
10

Preparer

Firm
Moen Accounting DBA Janice Moen CPA
Address
26965 Road N, Cortez, CO 81321
Preparer
Janice Moen CPA
Phone
5052502231
Supplemental Narrative

Additional Explanations

Amended Explanation

“Audit was completed past filing of original 990. Audit adjustments were material so amended 990 necessary.”

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Rental expenses netted against revenue $105062”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Rental expenses netted against revenue $105062”

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IRS990ScheduleD/ExpensesSubtotalAmt0511476
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0895000
IRS990ScheduleD/OtherExpensesIncludedAmt0105062
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IRS990ScheduleD/OtherRevenueAmt0105062
IRS990ScheduleD/RevenueNotReportedAmt0105062
IRS990ScheduleD/RevenueSubtotalAmt0649019
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Rental expenses netted against revenue $105062
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Rental expenses netted against revenue $105062
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d: Other expenses and losses per audited F/S
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IRS990ScheduleD/TotalRevenuePerForm990Amt0649019
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0616538
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IRS990ScheduleI/RecipientTable/CashGrantAmt050675
IRS990ScheduleI/RecipientTable/CashGrantAmt1196316
IRS990ScheduleI/RecipientTable/CashGrantAmt293888
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(c)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Operation grant
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Operation grant
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Operation grnat
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Albuquerque Collegiate
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Hozho Academy
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Life is Sacred
IRS990ScheduleI/RecipientTable/RecipientEIN0821295470
IRS990ScheduleI/RecipientTable/RecipientEIN1822871097
IRS990ScheduleI/RecipientTable/RecipientEIN2841735115
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01720 Bridge Blvd SW
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1306 NM-564
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2PO Box 1772
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Albuquerque
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Gallup
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Gallup
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NM
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NM
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd187301
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd287305
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Aequita Education monitors larger grants by reviewing the grantees monthly budget as well as attending the grantee's finance committee meetings. We also require a detailed list of expenditures. Aequita Education monitors smaller or onetime grants by requiring the organization to provide reports on expenditure of funds with documentation. We also check in on programs in person to see that the grantee is utilizing the funds properly.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt03
IRS990ScheduleI/TotalOtherOrgCnt00
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Shane Terrill is Brother-In Law of Patrick Mason.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization provides a copy of this Form 990 to all members of its governing body before filing with IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Aequitas Education has a conflict of interest policy which includes having all new board members sign an acknowledgement they have read and understood the policy. All board members are required annually and in writing to disclose all businesses or other organizations of which they receive compensation or remuneration of any sort, with which Aequitas Education competes or with which Aequitas Education has, or might reasonably in the future enter into, a relationship or a transaction. Aequitas Education also has a policy directing the Board Chair and other Board Members on how to disclose a potential conflict of interest when issues are discussed or voted on, which includes disclosure and the party removing themselves from the meeting during discussion and vote.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents, policies, financial statements and the IRS Form 990 are made available to the public upon request within three working days of the date the request was made.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Audit was completed past filing of original 990. Audit adjustments were material so amended 990 necessary.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Amended Explanation
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IRS990/TotalLiabilitiesGrp/EOYAmt04384261
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-221177
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01153
IRS990/TotalProgramServiceExpensesAmt0348041
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-105062
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0649019
IRS990/TotalVolunteersCnt010
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IRS990/TravelGrp/TotalAmt00
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IRS990/WebsiteAddressTxt0https://aequitaseducation.org/
IRS990/WhistleblowerPolicyInd0true
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,385,414
Liabilities
$4,384,261
Net assets
$1,153
Revenue
$649,019
Expenses
$511,476
Net income
$137,543
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.50$7.19$1.31$0.90$0.45$0.45
2023Detailed filing. Detailed filing data is available for this year.$8.54$7.68$0.86$0.72$0.31$0.41
2022Detailed filing. Detailed filing data is available for this year.$7.74$7.29$0.45$0.54$0.67$0.13
2021Detailed filing. Detailed filing data is available for this year.$7.97$7.75$0.23$0.64$0.42$0.23
2020Detailed filing. Detailed filing data is available for this year.$7.99$7.51$0.48$1.40$0.70$0.70
2020Detailed filing. Detailed filing data is available for this year.$4.39$4.38$0.00$0.65$0.51$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.89$1.11$0.22$0.47$0.42$0.05