Civic Intelligence

Live Oak Classical Foundation

990 • Fiscal year 2022 • EIN 83-2220421

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization ProfileN/A
P O Box 647Waco, TX 76703

(254) 714-1007

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

96th percentile

80%

Higher net margin than 96% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

56th percentile

$73,000

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 18.8% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

91st percentile

70%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

5th percentile

-61%

Faster revenue growth than 5% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$1,495,726

Up $615,188 (+70%) from 2021

Net Assets

Up

$1,495,726

Up $615,188 (+70%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin96th percentile

Revenue

Down

$388,649

Down $595,546 (-61%) from 2021

Expenses

Down

$78,635

Down $90,570 (-54%) from 2021

Net Income

Down

$310,014

Down $504,976 (-62%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$1.5M$1.0M$500K$0Assets 2020: $65,548Liabilities 2020: $0Net Assets 2020: $65,5482020Assets 2021: $880,538Liabilities 2021: $0Net Assets 2021: $880,5382021Assets 2022: $1,495,726Liabilities 2022: $0Net Assets 2022: $1,495,7262022Assets 2023: $1,143,227Liabilities 2023: $0Net Assets 2023: $1,143,2272023Assets 2024: $458,083Liabilities 2024: $0Net Assets 2024: $458,0832024

Highlighted filing

2022

Assets$1,495,726
Liabilities$0
Net Assets$1,495,726
Open 2022 Filing

Operations Trend

Revenue Growth5th percentile

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

$1.0M$500K$0-$500K-$1.0MRevenue 2020: $26,133Expenses 2020: $152,308Net Income 2020: -$126,1752020Revenue 2021: $984,195Expenses 2021: $169,205Net Income 2021: $814,9902021Revenue 2022: $388,649Expenses 2022: $78,635Net Income 2022: $310,0142022Revenue 2023: $92,900Expenses 2023: $343,107Net Income 2023: -$250,2072023Revenue 2024: $227,777Expenses 2024: $989,920Net Income 2024: -$762,1432024

Highlighted filing

2022

Revenue$388,649
Expenses$78,635
Net Income$310,014
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$388,649
Mission and Program Overview

Mission

NONE

To generate funds to subsidize and support capital and academic-oriented projects of live oak classical school in waco, texas, and other charitable acts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$173,421$1,004,850▲ $831,429
Cash and Non-Interest-Bearing Accounts$701,467$485,226▼ $216,241
Accounts Receivable$5,650$5,650→ $0
Total Assets$880,538$1,495,726▲ $615,188
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$173,421$1,050,793▲ $877,372
Net Assets Without Donor Restrictions$707,117$444,933▼ $262,184
Total Net Assets Fund Balance$880,538$1,495,726▲ $615,188
Total Liabilities and Net Assets / Fund Balance$880,538$1,495,726▲ $615,188
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleOtherTotal
Alison MoffattPresident$73,000$73,000

Board Members and Trustees

NameTitle
David LacyDirector
Kimberly LucasDirector
Smith GettermanDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$388,026
Program Service Revenue
$0
Investment Income
$623
Other Revenue
$0
All Other Contributions
$388,026
Change in Net Assets
$310,014
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$77,475
Other Expenses$1,160
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$77,475--$77,475
Office Expenses-$1,160-$1,160
Total Functional Expenses$77,475$1,160$0$78,635
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
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
No
Management duties delegated
No

Governance Explanations

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

“The organization makes its form 990 available to the board of directors for review before filing.”

Form 990, Part VI, Section B, Line 15

“The organization has no employees”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Live Oak Classical Foundation
EIN
83-2220421
Phone
2547141007
Address
P O BOX 647, WACO, TX 76703

Signing Officer

Name
Alison Moffatt
Title
President
Phone
2547141007
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alison Moffatt
Formed
2018
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Pattillo Brown & Hill Llp
Address
P O BOX 20725, WACO, TX 76702-0725
Preparer
Sharon M Herwald CPA
Phone
2547724901
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Transfer of assets from live oak classical school 305,174.”

Financial Statement Notes

PART X, LINE 2:

“The organization was granted tax-exempt status under section 501(c)(3) of the internal revenue code. The organization has been classified as a publicly supported organization, which is not a private foundation under section 509(a)(1) and 170(b)(1)(a)(vi) of the code. The organization began collecting unrelated business taxable income ("ubti") in 2017 related to fees charged for parking and has prepared a form 990-t to pay the related tax. Therefore, a provision for income taxes is reflected in the combined financial statements for the year ended june 30, 2021 and 2020. The accounting standards on accounting for uncertainty in income taxes address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the organization and various positions related to the potential sources of ubti. The organization has recognized ubti for the years ended june 30, 2022 and 2021 and recorded the related provision for income tax in the amount of $0 and $4,968. The organization's tax returns are generally no longer subject to examination by the internal revenue service after three years.”

Raw XML Appendix345 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0FYE JUNE 30, 2019 WAS THE ORGANIZATION'S FIRST YEAR IN EXISTANCE AND WAS A SHORT YEAR BEGINNING OCTOBER 2, 2018.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1ONE OF THE FOUNDATION'S DIRECTORS WAS ALSO A DIRECTOR OF THE SUPPORTED ORGANIZATION, LIVE OAK CLASSICAL SCHOOL; HOWEVER, THIS ONE DIRECTOR DOES NOT REPRESENT A MAJORITY OF THE DIRECTORS OF LIVE OAK CLASSICAL SCHOOL. A MAJORITY OF DIRECTORS FOR LIVE OAK CLASSICAL SCHOOL WOULD BE SIX.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION C, LINE 1:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1FORM 990, SCHEDULE A, SECTION C
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION WAS GRANTED TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED ORGANIZATION, WHICH IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(1) AND 170(B)(1)(A)(VI) OF THE CODE. THE ORGANIZATION BEGAN COLLECTING UNRELATED BUSINESS TAXABLE INCOME ("UBTI") IN 2017 RELATED TO FEES CHARGED FOR PARKING AND HAS PREPARED A FORM 990-T TO PAY THE RELATED TAX. THEREFORE, A PROVISION FOR INCOME TAXES IS REFLECTED IN THE COMBINED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2021 AND 2020. THE ACCOUNTING STANDARDS ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESS THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE ORGANIZATION AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UBTI. THE ORGANIZATION HAS RECOGNIZED UBTI FOR THE YEARS ENDED JUNE 30, 2022 AND 2021 AND RECORDED THE RELATED PROVISION FOR INCOME TAX IN THE AMOUNT OF $0 AND $4,968. THE ORGANIZATION'S TAX RETURNS ARE GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AFTER THREE YEARS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS NO EMPLOYEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TRANSFER OF ASSETS FROM LIVE OAK CLASSICAL SCHOOL 305,174.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0880538
IRS990/TotalAssetsEOYAmt01495726
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0388026
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01160
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt077475
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
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IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ALISON MOFFATT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02547141007
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-15
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O BOX 20725
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WACO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0767020725
ReturnHeader/PreparerPersonGrp/PhoneNum02547724901
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHARON M HERWALD CPA
ReturnHeader/ReturnTs02023-05-15T15:23:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALISON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MOFFATT
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,495,726
Liabilities
$0
Net assets
$1,495,726
Revenue
$388,649
Expenses
$78,635
Net income
$310,014
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$0.23$0.99$0.76
2023Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.14$0.09$0.34$0.25
2022Detailed filing. Detailed filing data is available for this year.$1.50$0.00$1.50$0.39$0.08$0.31
2021Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$0.98$0.17$0.81
2020Summary only. Only limited summary data is available for this year.$0.07$0.00$0.07$0.03$0.15$0.13