Civic Intelligence

Pinnacles Prep Charter School

990 • Fiscal year 2021 • EIN 83-4473193

Sep 01, 2020 to Aug 31, 2021 • Filed on Feb 03, 2022

Organization Profilepinnaclesprep.org
504 S Chelan AveWenatchee, WA 98801

(805) 669-8801

Siviq Scores

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

Liabilities / Assets

76th percentile

0.33x

Higher debt load relative to assets than 76% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.45x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

91st percentile

62%

Higher net margin than 91% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

59th percentile

$76,669

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

98th percentile

341%

Faster asset growth than 98% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

88th percentile

108%

Faster revenue growth than 88% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$1,627,245

Up $1,258,299 (+341%) from 2020

Net Assets

Up

$1,096,583

Up $736,704 (+205%) from 2020

Liabilities

Up

$530,662

Up $521,595 (+5753%) from 2020

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin91st percentile

Revenue

Up

$1,180,227

Up $611,674 (+108%) from 2020

Expenses

Up

$443,523

Up $234,849 (+113%) from 2020

Net Income

Up

$736,704

Up $376,825 (+105%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$6.0M$4.0M$2.0M$0Assets 2019: $6,218Liabilities 2019: $0Net Assets 2019: $6,2182019Assets 2020: $368,946Liabilities 2020: $9,067Net Assets 2020: $359,8792020Assets 2021: $1,627,245Liabilities 2021: $530,662Net Assets 2021: $1,096,5832021Assets 2022: $2,096,740Liabilities 2022: $596,219Net Assets 2022: $1,500,5212022Assets 2023: $3,247,943Liabilities 2023: $2,023,116Net Assets 2023: $1,224,8272023Assets 2024: $4,169,079Liabilities 2024: $2,115,539Net Assets 2024: $2,053,5402024

Highlighted filing

2021

Assets$1,627,245
Liabilities$530,662
Net Assets$1,096,583
Open 2021 Filing

Operations Trend

Revenue Growth88th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $10,500Expenses 2019: $4,282Net Income 2019: $6,2182019Revenue 2020: $568,553Expenses 2020: $208,674Net Income 2020: $359,8792020Revenue 2021: $1,180,227Expenses 2021: $443,523Net Income 2021: $736,7042021Revenue 2022: $2,650,223Expenses 2022: $2,301,768Net Income 2022: $348,4552022Revenue 2023: $3,023,304Expenses 2023: $3,302,680Net Income 2023: -$279,3762023Revenue 2024: $5,192,681Expenses 2024: $4,363,968Net Income 2024: $828,7132024

Highlighted filing

2021

Revenue$1,180,227
Expenses$443,523
Net Income$736,704
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Feb 3, 2022
Return Version
2020v4.2
Gross Receipts
$1,180,227
Mission and Program Overview

Mission

Pinnacles Prep is devoted to intellectual inquiry and a collaborative spirit of learning and is committed to delivering a relevant and innovative educational experience in a rapidly changing world. The school aims to develop every student to their full potential by offering rich and varied educational experiences that foster exploration, growth, and mastery.

Tuition-free public charter school devoted to intellectual inquiry and a collaborative spirit of learning

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$131,303$972,813▲ $841,510
Cash and Non-Interest-Bearing Accounts$93,510$340,118▲ $246,608
Accounts Receivable$127,699$279,740▲ $152,041
Prepaid Expenses and Deferred Charges$16,434$34,574▲ $18,140
Total Assets$368,946$1,627,245▲ $1,258,299
Liabilities
Accounts Payable and Accrued Expenses$9,067$300,662▲ $291,595
Mortgage Notes Payable Secured by Investment Property-$230,000-
Total Liabilities$9,067$530,662▲ $521,595
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$359,879$1,074,109▲ $714,230
Net Assets With Donor Restrictions-$22,474-
Total Net Assets Fund Balance$359,879$1,096,583▲ $736,704
Total Liabilities and Net Assets / Fund Balance$368,946$1,627,245▲ $1,258,299

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$860,014-$860,014
Equipment$112,799-$112,799
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jill FineisCEOFT$76,669$76,669

Board Members and Trustees

NameTitle
Rick WrayPresident
Jazmin Flora FernandezMember
Karen RutherfordMember
Mario ReyesMember
Oscar Licon EsuebioMember
Tod TreatMember
Xaxira Velasco Ponce de LeonMember
Sara RolfsSecretary
Tyler McGeeTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Tbcc LLCFacility Construction15 S Elliott Ave, Wenatchee, WA 98801$163,404
The DOH Associates PSFacility Construction7 N Wenatchee Ave, Wenatchee, WA 98801$130,407
Revenue and Support

Revenue Composition

Contributions and Grants
$1,180,227
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$951,163
Change in Net Assets
$736,704
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$261,834
Salaries, Compensation, and Employee Benefits$181,689
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$66,911$22,304-$89,215
Current Officers, Directors, Trustees, and Key Employees$57,502$19,167-$76,669
Occupancy$41,843$13,948-$55,791
Fees for Services Accounting-$20,700-$20,700
Advertising$19,977--$19,977
Fees for Services Other$16,269$2,319-$18,588
Information Technology$12,446$4,149-$16,595
Payroll Taxes$11,854$3,951-$15,805
Office Expenses$7,021$7,021-$14,042
Travel$7,338--$7,338
Conferences and Meetings$6,941--$6,941
Insurance$2,972$2,972-$5,944
Other Expenses$23,240$3,553-$3,553
Interest$1,861$620-$2,481
Total Functional Expenses$342,819$100,704$0$443,523
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
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
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
No

Governance Explanations

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

“Board of directors received copies of this document for review and edits at least 48 hours before filing.”

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

“The organization reviews conflict of interests with the Board yearly and asks Board members to reveal any conflicts of interest any time vendor relationships or potential contracts are discussed.”

Form 990, Part VI, Section B, line 15

“The policy for establishing operating officers and key management employees wages is to base wages on standard salaries in the industry in the same geographical area.”

Form 990, Part VI, Section C, line 19

“Governing documents including the conflict of interest policy and financial statements can be found on the organization's website and/or can be requested from school administration.”

Filing and Contact Details

Filer

Filer Name
Pinnacles Prep Charter School
EIN
83-4473193
Phone
8056698801
Address
504 S Chelan Ave, Wenatchee, WA 98801

Signing Officer

Name
Jill Fineis
Title
Chief Executive Officer
Phone
8056698801
Signed
2022-02-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jill Fineis
Formed
2020
Legal Domicile
Wa
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
8

Preparer

Firm
Hingston Miller Hingston PLLC
Address
20700 44th Ave W 210, Lynnwood, WA 98036
Preparer
David Hingston
Phone
2062852777
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Policy is publicized on the school's website
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1As a public charter school, the organization receives state and federal funding.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board of directors received copies of this document for review and edits at least 48 hours before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization reviews conflict of interests with the Board yearly and asks Board members to reveal any conflicts of interest any time vendor relationships or potential contracts are discussed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The policy for establishing operating officers and key management employees wages is to base wages on standard salaries in the industry in the same geographical area.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents including the conflict of interest policy and financial statements can be found on the organization's website and/or can be requested from school administration.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd01
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IRS990/USAddress/AddressLine1Txt0504 S Chelan Ave
IRS990/USAddress/CityNm0Wenatchee
IRS990/USAddress/StateAbbreviationCd0WA
IRS990/USAddress/ZIPCd098801
IRS990/VotingMembersGoverningBodyCnt09
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IRS990/WebsiteAddressTxt0pinnaclesprep.org
IRS990/WhistleblowerPolicyInd01
ReasonableCauseExplanation/ExplanationTxt0Dear Sir or Madam:We are writing proactively to address the late filing penalty for the above organization. The organization was initially set up as a calendar-year taxpayer. However, they decided to switch to a fiscal year ending 8/31, as of 8/31/21. As they are a school, this fiscal year end will more accurately reflect their annual activity. My CPA firm prepared the Form 990 for the short-year period 1/1/21 8/31/21. They qualified to change their year-end under the rules of Revenue Procedure 85-58.I was preparing multiple 990's in this same situation, changing to 8/31 year-ends. When I attempted to e-file the first return, it was rejected. The error code indicated that the year-end of 8/31 did not match what was in the IRS database. Which I agree with, as that is what we were attempting to change. Based on the reject reason, I knew that Pinnacles would be rejected as well, were it to be e-filed. Therefore, with the return being unable to be e-filed, the taxpayer signed and mailed in a physical copy of the return, prior to the January 15, 2022 due date (4.5 months after the 8/31/21 year-end).In early January when the e-filed return was rejected, I called the IRS e-file helpdesk. They did not get back to me until January 24th, after the initial filing deadline. They indicated that they adjusted the year-end date in their system, which would now allow the return to be e-filed. The agent indicated to me that as 990's are required to be e-filed, the paper return that had been mailed in would be rejected, despite that being the only option available as of the due date of the return. The agent instructed me to re-submit the 990 electronically, along with this penalty abatement request attached.We respectfully request that any late filing penalty be abated. The taxpayer took every measure to file the return timely, and did in fact file timely via mail, as the return was unable to be e-filed by the filing deadline. Proof of timely mailing can be provided upon request.Thank you for your attention to this matter, and please respond directly to the taxpayer. Regards,Dave Hingston CPA
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-03-31 18:45:55Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Jill Fineis
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chief Executive Officer
ReturnHeader/BusinessOfficerGrp/PhoneNum08056698801
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-02-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Pinnacles Prep Charter School
ReturnHeader/Filer/BusinessNameControlTxt0PINN
ReturnHeader/Filer/EIN0834473193
ReturnHeader/Filer/PhoneNum08056698801
ReturnHeader/Filer/USAddress/AddressLine1Txt0504 S Chelan Ave
ReturnHeader/Filer/USAddress/CityNm0Wenatchee
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd098801
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472803252
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Hingston Miller Hingston PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt020700 44th Ave W 210
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Lynnwood

Document Assets

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Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,627,245
Liabilities
$530,662
Net assets
$1,096,583
Revenue
$1,180,227
Expenses
$443,523
Net income
$736,704
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.17$2.12$2.05$5.19$4.36$0.83
2023Detailed filing. Detailed filing data is available for this year.$3.25$2.02$1.22$3.02$3.30$0.28
2022Detailed filing. Detailed filing data is available for this year.$2.10$0.60$1.50$2.65$2.30$0.35
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.63$0.53$1.10$1.18$0.44$0.74
2020Detailed filing. Detailed filing data is available for this year.$0.37$0.01$0.36$0.57$0.21$0.36
2019Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.01$0.00$0.01