Civic Intelligence

Passage Charter School Inc

990 • Fiscal year 2015 • EIN 84-1449330

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 04, 2015

Organization ProfileN/A
703 South 9th StreetMontrose, CO 81401

(970) 249-8066

Siviq Scores

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

Liabilities / Assets

96th percentile

1.45x

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

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

1.24x

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

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

26th percentile

-7.3%

Higher net margin than 26% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

40th percentile

-2.5%

Faster asset growth than 40% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

33rd percentile

-10%

Faster revenue growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$238,511

Down $6,118 (-2.5%) from 2014

Net Assets

Down

-$108,431

Down $305,909 (-155%) from 2014

Liabilities

Up

$346,942

Up $299,791 (+636%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin26th percentile

Revenue

Down

$279,983

Down $31,215 (-10%) from 2014

Expenses

Down

$300,290

Down $32,761 (-9.8%) from 2014

Net Income

Up

-$20,307

Up $1,546 (+7.1%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$400K$200K$0-$200KAssets 2012: $306,031Liabilities 2012: $51,016Net Assets 2012: $255,0152012Assets 2013: $266,326Liabilities 2013: $46,995Net Assets 2013: $219,3312013Assets 2014: $244,629Liabilities 2014: $47,151Net Assets 2014: $197,4782014Assets 2015: $238,511Liabilities 2015: $346,942Net Assets 2015: -$108,4312015Assets 2016: $252,848Liabilities 2016: $391,035Net Assets 2016: -$138,1872016

Highlighted filing

2015

Assets$238,511
Liabilities$346,942
Net Assets-$108,431
Open 2015 Filing

Operations Trend

Revenue Growth33rd percentile

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

$400K$200K$0-$200KRevenue 2012: $316,550Expenses 2012: $364,794Net Income 2012: -$48,2442012Revenue 2013: $313,087Expenses 2013: $348,771Net Income 2013: -$35,6842013Revenue 2014: $311,198Expenses 2014: $333,051Net Income 2014: -$21,8532014Revenue 2015: $279,983Expenses 2015: $300,290Net Income 2015: -$20,3072015Revenue 2016: $276,699Expenses 2016: $306,455Net Income 2016: -$29,7562016

Highlighted filing

2015

Revenue$279,983
Expenses$300,290
Net Income-$20,307
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 4, 2015
Return Version
2014v5.0
Gross Receipts
$279,983
Mission and Program Overview

Mission

Operation of a secondary-level public school and infant/toddler care center to serve the educational and child care needs of pregnant and parenting adolescents.

Charter school - secondary education

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$118,969$115,665▼ $3,304
Land, Buildings, and Equipment, Net$125,556$112,306▼ $13,250
Pd in Cap Srpls Land Bldg Eqp Fund$125,556$112,306▼ $13,250
Accounts Receivable$104$207▲ $103
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$71,922$-220,737▼ $292,659
Total Assets$244,629$238,511▼ $6,118
Other Assets Total$0$10,333▲ $10,333
Liabilities
Other Liabilities$35,036$334,905▲ $299,869
Accounts Payable and Accrued Expenses$12,115$12,037▼ $78
Total Liabilities$47,151$346,942▲ $299,791
Net Assets / Fund Balance
Total Net Assets Fund Balance$197,478$-108,431▼ $305,909
Total Liabilities and Net Assets / Fund Balance$244,629$238,511▼ $6,118

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$112,306$273,091$385,397
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Craig WolvertonPresident
Michelle BerryVice-chair
Christina FulmerDirector
Jim JackettDirector
Judy LokeyDirector
Lou WinklerDirector
Pat MyersSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$119,319
Program Service Revenue
$160,402
Investment Income
$0
Other Revenue
$262
All Other Contributions
$92,760
Change in Net Assets
$-20,307

Audited Revenue Reconciliation

Revenue per Audited Statements
$279,983
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$279,983
Total Revenue per Form 990
$279,983
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$300,290
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$18,189--$18,189
Occupancy$16,347--$16,347
Other Expenses$4,858--$4,858
Total Functional Expenses$300,290$0$0$300,290

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$300,290
Total Expenses per Audited Statements$300,290
Total Expenses per Form 990$300,290
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$307,092
Advances From Grantors$27,789
Deferred Inflows-pensions$24
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
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 11

“Board members review form 990 prior to its submission to irs.”

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

“Regularly reviewed at board meetings.”

Form 990, Part VI, Section C, Line 18

“Governing documents, financial statements and other data available to the public upon request.”

Form 990, Part VI, Section C, Line 19

“Governing documents, financial statements and other data available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Passage Charter School Inc
EIN
84-1449330
Phone
9702498066
Address
703 SOUTH 9TH STREET, MONTROSE, CO 81401

Signing Officer

Name
Craig Wolverton
Title
President
Phone
9702499392
Signed
2015-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Wolverton
Formed
1998
Legal Domicile
Co
Voting Board Members
7
Independent Board Members
7
Employees
8
Volunteers
24

Preparer

Firm
Donald R Moreland & Associates Pc
Address
1675 EAST NIAGARA ROAD, MONTROSE, CO 81401
Phone
9702493424
Supplemental Narrative

Additional Explanations

FORM 990,PART V, LINE 2A AND 2B:

“The passage charter school is a component unit of montrose county school district re-1j. All required federal employment returns, including w-2's, are filed by montrose county school district re-1j.”

Raw XML Appendix399 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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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/ExplanationTxt0STATEMENT OF NONDISCRIMINATION IS NOTED IN STUDENT HANDBOOK WHICH IS GIVEN TO ALL STUDENTS AND POSTED IN THE SCHOOL OFFICE IT IS ALSO NOTED IN THE MONTROSE AND OLATHE SCHOOLS SELECTED POLICIES AND PROCEDURES HANDBOOK
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES EQUALIZATION FUNDING AND VARIOUS OTHER GOVERNMENTAL GRANTS FROM FEDERAL AND STATE OF COLORADO SOURCES THRU THE MONTROSE COUNTY COLORADO SCHOOL DISTRICT RE-1J.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS REVIEW FORM 990 PRIOR TO ITS SUBMISSION TO IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REGULARLY REVIEWED AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND OTHER DATA AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND OTHER DATA AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PASSAGE CHARTER SCHOOL IS A COMPONENT UNIT OF MONTROSE COUNTY SCHOOL DISTRICT RE-1J. ALL REQUIRED FEDERAL EMPLOYMENT RETURNS, INCLUDING W-2'S, ARE FILED BY MONTROSE COUNTY SCHOOL DISTRICT RE-1J.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990,PART V, LINE 2A AND 2B:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0244629
IRS990/TotalAssetsEOYAmt0238511
IRS990/TotalAssetsGrp/BOYAmt0244629
IRS990/TotalAssetsGrp/EOYAmt0238511
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0119319
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0300290
IRS990/TotalFunctionalExpensesGrp/TotalAmt0300290
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt047151
IRS990/TotalLiabilitiesEOYAmt0346942
IRS990/TotalLiabilitiesGrp/BOYAmt047151
IRS990/TotalLiabilitiesGrp/EOYAmt0346942
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0197478
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-108431
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt0114619
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0114619
IRS990/TotalProgramServiceExpensesAmt0300290
IRS990/TotalProgramServiceRevenueAmt0160402
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0160664
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0279983
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt024
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0244629
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0238511
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt069145 NIGHTWAWK ROAD
IRS990/USAddress/CityNm0MONTROSE
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd081403
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CRAIG WOLVERTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09702499392
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PASSAGE CHARTER SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0PASS
ReturnHeader/Filer/EIN0841449330
ReturnHeader/Filer/PhoneNum09702498066
ReturnHeader/Filer/USAddress/AddressLine1Txt0703 SOUTH 9TH STREET
ReturnHeader/Filer/USAddress/CityNm0MONTROSE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd081401
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0841220192
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DONALD R MORELAND & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01675 EAST NIAGARA ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MONTROSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd081401
ReturnHeader/PreparerPersonGrp/PhoneNum09702493424
ReturnHeader/ReturnTs02015-11-09T15:15:33-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$238,511
Liabilities
$346,942
Net assets
-$108,431
Revenue
$279,983
Expenses
$300,290
Net income
-$20,307
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$2.53$3.91$1.38$2.77$3.06$0.30
2015Detailed filing. Detailed filing data is available for this year.$2.39$3.47$1.08$2.80$3.00$0.20
2014Summary only. Only limited summary data is available for this year.$2.45$0.47$1.97$3.11$3.33$0.22
2013Summary only. Only limited summary data is available for this year.$2.66$0.47$2.19$3.13$3.49$0.36
2012Summary only. Only limited summary data is available for this year.$3.06$0.51$2.55$3.17$3.65$0.48