Civic Intelligence

Liberty Common School

990 • Fiscal year 2023 • EIN 84-1404585

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 15, 2024

1725 Sharp Point DriveFort Collins, CO 80525

(970) 482-9800

Siviq Scores

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

Liabilities / Assets

98th percentile

1.48x

Higher debt load relative to assets than 98% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

82nd percentile

1.20x

Higher debt load relative to revenue than 82% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

27th percentile

-4.3%

Higher net margin than 27% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

67th percentile

$237,343

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

76th percentile

19%

Faster asset growth than 76% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

77th percentile

25%

Faster revenue growth than 77% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Up

$14,313,083

Up $2,260,697 (+19%) from 2022

Net Assets

Down

-$6,857,130

Down $1,008,208 (-17%) from 2022

Liabilities

Up

$21,170,213

Up $3,268,905 (+18%) from 2022

Revenue

Up

$17,573,774

Up $3,499,767 (+25%) from 2022

Expenses

Up

$18,331,982

Up $8,020,454 (+78%) from 2022

Net Income

Down

-$758,208

Down $4,520,687 (-120%) from 2022

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2022: $12,052,386Liabilities 2022: $17,901,308Net Assets 2022: -$5,848,9222022Assets 2023: $14,313,083Liabilities 2023: $21,170,213Net Assets 2023: -$6,857,1302023Assets 2024: $20,031,988Liabilities 2024: $26,902,900Net Assets 2024: -$6,870,9122024

Highlighted filing

2023

Assets$14,313,083
Liabilities$21,170,213
Net Assets-$6,857,130

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2022: $14,074,007Expenses 2022: $10,311,528Net Income 2022: $3,762,4792022Revenue 2023: $17,573,774Expenses 2023: $18,331,982Net Income 2023: -$758,2082023Revenue 2024: $20,934,720Expenses 2024: $20,781,532Net Income 2024: $153,1882024

Highlighted filing

2023

Revenue$17,573,774
Expenses$18,331,982
Net Income-$758,208
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 15, 2024
Return Version
2022v5.0
Gross Receipts
$17,573,774
Mission and Program Overview

Mission

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,799,863$6,240,238▲ $2,440,375
Land, Buildings, and Equipment, Net$1,737,192$3,708,769▲ $1,971,577
Savings and Temporary Cash Investments$3,147,024--
Accounts Receivable$236,039$345,766▲ $109,727
Prepaid Expenses and Deferred Charges$27,825$111,992▲ $84,167
Total Assets$12,052,386$14,313,083▲ $2,260,697
Other Assets Total$3,104,443$3,906,318▲ $801,875
Liabilities
Other Liabilities$17,266,587$18,836,021▲ $1,569,434
Mortgage Notes Payable Secured by Investment Property$52,412$1,350,669▲ $1,298,257
Accounts Payable and Accrued Expenses$582,309$912,285▲ $329,976
Deferred Revenue-$71,238-
Total Liabilities$17,901,308$21,170,213▲ $3,268,905
Net Assets / Fund Balance
Net Assets With Donor Restrictions$395,000$517,000▲ $122,000
Net Assets Without Donor Restrictions$-6,243,922$-7,374,130▼ $1,130,208
Total Net Assets Fund Balance$-5,848,922$-6,857,130▼ $1,008,208
Total Liabilities and Net Assets / Fund Balance$12,052,386$14,313,083▲ $2,260,697

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,071,580$874,650$2,946,230
Buildings$1,307,680$653,840$1,961,520
Leasehold Improvements$298,215$564,399$862,614
Other Land Buildings$31,294-$31,294
Other Assets Org$3,906,318--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bob SchafferHeadmasterPT$185,808$51,535$237,343
Torgun LovelyPrincipal-$156,908$40,188$197,096
Casey ChurchillPrincipal-$140,535$36,399$176,934
Sandy StoltzfusPrincipal-$125,937$33,000$158,937
Robert RobinsonAssistant Principal-$111,322$26,590$137,912
Jared DybzinskiTeacher-$105,889$29,371$135,260
Mary KearneyAssistant Principal-$101,523$27,782$129,305
Sean LewisDirector of IT-$63,925$24,789$88,714

Board Members and Trustees

NameTitle
Todd ArndorferPresident
Elizabeth BarberVice President
Cindy SkalickyMember
Elizabeth TimpeMember
Mindy StoryMember
Patrick AlbrightSecretary
Mark DollarTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,860,912
Program Service Revenue
$15,565,880
Investment Income
$126,524
Other Revenue
$20,458
All Other Contributions
$631,376
Change in Net Assets
$-758,208

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,573,774
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,425,437
Total Revenue per Audited Statements
$18,999,211
Total Revenue per Form 990
$17,573,774
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,154,063
Other Expenses$6,177,919
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,937,808$770,868-$7,708,676
Pension Plan Contributions$2,043,092$281,496-$2,324,588
Current Officers, Directors, Trustees, and Key Employees$946,127$315,376-$1,261,503
Depreciation Depletion$796,653$140,586-$937,239
Occupancy$781,765$137,959-$919,724
Other Employee Benefits$578,823$79,750-$658,573
Other Expenses$427,211$75,390-$502,601
All Other Expenses$277,783$47,069-$324,852
Payroll Taxes$176,416$24,307-$200,723
Insurance$168,155$29,674-$197,829
Travel$150,595$26,576-$177,171
Interest$60,415$10,662-$71,077
Fees for Services Accounting-$31,910-$31,910
Office Expenses$19,437$3,430-$22,867
Fees for Services Other$17,006$3,001-$20,007
Fees for Services Legal-$727-$727
Total Functional Expenses$16,042,952$2,289,030$0$18,331,982

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$19,685,070
Expenses per Audited Statements$18,331,982
Total Expenses per Form 990$18,331,982
Expenses Not Reported on Form 990$1,353,088
Expenses Not Reported on Financial Statements$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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liabilities$17,239,147
Deferred Inflows of Resources$1,009,939
Net OPEB Liability$586,935
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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, Section B, line 11B

Form 990 is presented to the Board prior to submission.

Form 990, Part VI, Section C, line 19

Liberty Common School makes it governing documents and conflict of interest policy available to the public upon request. The financial statements are available on the Liberty Common School's website at the following address. http://www.libertycommon.org

Filing and Contact Details

Filer

Filer Name
Liberty Common School
EIN
84-1404585
Phone
9704829800
Address
1725 Sharp Point Drive, Fort Collins, CO 80525

Signing Officer

Name
Noelle Currell
Title
Director of Finance
Phone
9704829800
Signed
2024-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Noelle Currell
Formed
1997
Legal Domicile
Co
Voting Board Members
7
Independent Board Members
7
Employees
287
Volunteers
1,037

Preparer

Firm
Hoelting & Company Inc
Address
31 East Platte Avenue Suite 300, Colorado Springs, CO 80903
Preparer
Thomas G Sistare
Phone
7196301091
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1, Description of Organization Mission:

The mission of Liberty is to provide excellence and fairness in education for school children through a common foundation by successfully teaching a contextual body of organized knowledge, the skills of learning including higher order thinking, and the values of a democratic society. Liberty recognizes the value of inclusiveness, or providing access to a broad cross-section of the community, so that students from all backgrounds can benefit from Liberty's educational offering. Liberty acknowledges the leadership of teachers in the classroom, and recognizes the responsibility of each student for his/her academic effort.

Form 990, Part III, LIne 1, Description of Organization Mission:

The mission of Liberty is to provide excellence and fairness in education for school children through a common foundation by successfully teaching a contextual body of organized knowledge, the skills of learning including higher order thinking, and the values of a democratic society. Liberty recognizes the value of inclusiveness, or providing access to a broad cross-section of the community, so that students from all backgrounds can benefit from Liberty's educational offering. Liberty acknowledges the leadership of teachers in the classroom, and recognizes the responsibility of each student for his/her academic effort.

Form 990, Part XII, Line 2C:

The board of education is responsible for oversight of the audit and selection of independent accountants.

Financial Statement Notes

Part XI, Line 2D - Other Adjustments:

Building Corporation rental income 1,266,732. Building Corporation Investment income 132,186. Building Corporation Misc income 26,519.

Part XII, Line 2D - Other Adjustments:

Building Corporation purchased services 8,967. Building Corporation interest expense and other fiscal charges 802,634. Building corporation depreciation expense 541,487.

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IRS990/MissionDesc0See Schedule O
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt052412
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01350669
IRS990/NetAssetsOrFundBalancesBOYAmt0-5848922
IRS990/NetAssetsOrFundBalancesEOYAmt0-6857130
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-6243922
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-7374130
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0137959
IRS990/OccupancyGrp/ProgramServicesAmt0781765
IRS990/OccupancyGrp/TotalAmt0919724
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03430
IRS990/OfficeExpensesGrp/ProgramServicesAmt019437
IRS990/OfficeExpensesGrp/TotalAmt022867
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03104443
IRS990/OtherAssetsTotalGrp/EOYAmt03906318
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt079750
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0578823
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0658573
IRS990/OtherExpensesGrp/Desc0Non-Capital Equipment
IRS990/OtherExpensesGrp/Desc1Instructional Supplies
IRS990/OtherExpensesGrp/Desc2Authorizer Purchased Se
IRS990/OtherExpensesGrp/Desc3Purchased Services
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0234102
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt176147
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt275390
IRS990/OtherExpensesGrp/ProgramServicesAmt01326576
IRS990/OtherExpensesGrp/ProgramServicesAmt1903589
IRS990/OtherExpensesGrp/ProgramServicesAmt2431501
IRS990/OtherExpensesGrp/ProgramServicesAmt3427211
IRS990/OtherExpensesGrp/TotalAmt01560678
IRS990/OtherExpensesGrp/TotalAmt1903589
IRS990/OtherExpensesGrp/TotalAmt2507648
IRS990/OtherExpensesGrp/TotalAmt3502601
IRS990/OtherLiabilitiesGrp/BOYAmt017266587
IRS990/OtherLiabilitiesGrp/EOYAmt018836021
IRS990/OtherRevenueMiscGrp/BusinessCd0611110
IRS990/OtherRevenueMiscGrp/Desc0Misc Rev
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt020458
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt020458
IRS990/OtherRevenueTotalAmt020458
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0770868
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt06937808
IRS990/OtherSalariesAndWagesGrp/TotalAmt07708676
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt024307
IRS990/PayrollTaxesGrp/ProgramServicesAmt0176416
IRS990/PayrollTaxesGrp/TotalAmt0200723
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0281496
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02043092
IRS990/PensionPlanContributionsGrp/TotalAmt02324588
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt027825
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0111992
IRS990/PrincipalOfficerNm0Noelle Currell
IRS990/PriorPeriodAdjustmentsAmt0-250000
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/BusinessCd1611110
IRS990/ProgramServiceRevenueGrp/BusinessCd2611110
IRS990/ProgramServiceRevenueGrp/Desc0Per Pupil Revenue
IRS990/ProgramServiceRevenueGrp/Desc1Mill Levy Override
IRS990/ProgramServiceRevenueGrp/Desc2Charges for Services
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt012187706
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12709294
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2668880
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt012187706
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12709294
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2668880
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01511150
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt07848
IRS990/PYOtherExpensesAmt03691166
IRS990/PYOtherRevenueAmt0284927
IRS990/PYProgramServiceRevenueAmt012270082
IRS990/PYRevenuesLessExpensesAmt03762479
IRS990/PYSalariesCompEmpBnftPaidAmt06620362
IRS990/PYTotalExpensesAmt010311528
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt014074007
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-758208
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt015586338
IRS990/SavingsAndTempCashInvstGrp/BOYAmt03147024
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt01307680
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0653840
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01961520
IRS990ScheduleD/EquipmentGrp/BookValueAmt02071580
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0874650
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02946230
IRS990ScheduleD/ExpensesNotReportedAmt01353088
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt018331982
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0298215
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0564399
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0862614
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03906318
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows of Resources
IRS990ScheduleD/OtherExpensesIncludedAmt01353088
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt031294
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt031294
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01009939
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1586935
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt217239147
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deferred Inflows of Resources
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Net OPEB Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net Pension Liabilities
IRS990ScheduleD/OtherRevenueAmt01425437
IRS990ScheduleD/RevenueNotReportedAmt01425437
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt017573774
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Building Corporation rental income 1,266,732. Building Corporation Investment income 132,186. Building Corporation Misc income 26,519.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Building Corporation purchased services 8,967. Building Corporation interest expense and other fiscal charges 802,634. Building corporation depreciation expense 541,487.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03708769
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03906318
IRS990ScheduleD/TotalExpensesPerForm990Amt018331982
IRS990ScheduleD/TotalLiabilityAmt018836021
IRS990ScheduleD/TotalRevenuePerForm990Amt017573774
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt018999211
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt019685070
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00

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