Civic Intelligence

Knowledge Quest Academy

990 • Fiscal year 2014 • EIN 84-1559556

Jul 01, 2013 to Jun 30, 2014 • Filed on Jan 16, 2015

Organization Profilewww.kqatrailblazers.org
705 School House Drive80543

(970) 587-5742

Siviq Scores

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

Liabilities / Assets

91st percentile

0.98x

Higher debt load relative to assets than 91% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

87th percentile

1.95x

Higher debt load relative to revenue than 87% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

65th percentile

8.5%

Higher net margin than 65% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

49th percentile

2.5%

Faster asset growth than 49% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

77th percentile

20%

Faster revenue growth than 77% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets91st percentile

Assets

$5,380,335

No earlier filing loaded for comparison.

Net Assets

$100,335

No earlier filing loaded for comparison.

Liabilities

$5,280,000

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin65th percentile

Revenue

$2,702,904

No earlier filing loaded for comparison.

Expenses

$2,474,459

No earlier filing loaded for comparison.

Net Income

$228,445

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$6.0M$4.0M$2.0M$0Assets 2014: $5,380,335Liabilities 2014: $5,280,000Net Assets 2014: $100,3352014

Highlighted filing

2014

Assets$5,380,335
Liabilities$5,280,000
Net Assets$100,335
Open 2014 Filing

Operations Trend

Revenue Growth77th percentile

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

$3.0M$2.0M$1.0M$0Revenue 2014: $2,702,904Expenses 2014: $2,474,459Net Income 2014: $228,4452014

Highlighted filing

2014

Revenue$2,702,904
Expenses$2,474,459
Net Income$228,445
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 16, 2015
Return Version
2013v4.0
Gross Receipts
$2,702,904
Mission and Program Overview

Mission

Knowledge Quest Academy is a K-8 charter school that uses the Core Knowledge educational program, with emphasis on a code of ethics. Class sizes are small and enrollment is approximately 394 students.

Knowledge Quest Academy provides instruction on a broad variety of topics using the proven, content-rich Core Knowledge educational program, along with emphasis on a code of ethics. Small class sizes allow students to receive individual attention. All who are associated with the school are able to contribute: Parents are encouraged to volunteer their time, teachers continue their professional development, and students show academic improvement through regular assessments.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,342,092$4,232,865▼ $109,227
Savings and Temporary Cash Investments$617,608$633,734▲ $16,126
Cash and Non-Interest-Bearing Accounts$131,862$365,442▲ $233,580
Intangible Assets$155,328$148,294▼ $7,034
Rtn Earn Endowment Incm Other Fnds$-128,110$100,335▲ $228,445
Accounts Receivable-$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-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$5,246,890$5,380,335▲ $133,445
Other Assets Total-$0-
Liabilities
Other Liabilities$5,375,000$5,280,000▼ $95,000
Total Liabilities$5,375,000$5,280,000▼ $95,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$-128,110$100,335▲ $228,445
Total Liabilities and Net Assets / Fund Balance$5,246,890$5,380,335▲ $133,445

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,170,331$772,556$4,942,887
Equipment$61,543$105,845$167,388
Other Land Buildings$991$1,297$2,288
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Dave LockeChairman
Jennifer MillerCo-Chair
Angela RashDirector
Erica GardnerDirector
Laura AllmanDirector
Kacie FoelschowSecretary
Amanda ProctorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$38,980
Program Service Revenue
$2,663,436
Investment Income
$488
Other Revenue
$0
Change in Net Assets
$228,445

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,702,904
Revenue Not Reported on Form 990
$2,102
Total Revenue per Audited Statements
$2,705,006
Total Revenue per Form 990
$2,702,904
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,237,454
Other Expenses$1,237,005
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$831,045$65,196-$896,241
Interest$349,375--$349,375
Other Employee Benefits$314,714$26,499-$341,213
Depreciation Depletion$116,259--$116,259
Other Expenses$54,636$9,768-$64,404
All Other Expenses$1,437--$1,437
Total Functional Expenses$2,337,095$137,364$0$2,474,459

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,514,080
Total Expenses per Form 990$2,474,459
Expenses per Audited Statements$2,467,585
Expenses Not Reported on Form 990$46,495
Expenses Not Reported on Financial Statements$6,874
Other Expense Adjustments$6,874
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
Certificates of Participation$5,280,000
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 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 11B: Form 990 Review Process

“A draft copy of the Form 990 was provided to the board with members reviewing the document thoroughly and approving it for filing.”

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

“See Schedule O.”

Filing and Contact Details

Filer

EIN
84-1559556
Phone
9705875742

Signing Officer

Name
Amanda Proctor
Title
Treasurer
Signed
2015-01-16
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
6
Employees
47

Preparer

Preparer
Michael S Szabo
Phone
9705222218
Supplemental Narrative

Financial Statement Notes

Part IV, Line 1B: Why is organization an agent, trustee, custodian or other intermediary for contrib

“The Pupil Activity Agency Fund is used to account for financial transactions related to school-sponsored pupil organizations and activities. These activities are self-supporting and do not receive any direct or indirect Academy support.”

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

“Cash basis adjustments $2102”

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

“Cash basis adjustment $46495”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Depreciation adjustment $6874”

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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0772556
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04942887
IRS990ScheduleD/DistributionsDuringYearAmt032099
IRS990ScheduleD/EndingBalanceAmt08407
IRS990ScheduleD/EquipmentGrp/BookValueAmt061543
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0105845
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0167388
IRS990ScheduleD/ExpensesNotReportedAmt046495
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt06874
IRS990ScheduleD/ExpensesSubtotalAmt02467585
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherExpensesIncludedAmt046495
IRS990ScheduleD/OtherExpensesNotIncludedAmt06874
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0991
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01297
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02288
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05280000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Certificates of Participation
IRS990ScheduleD/OtherRevenueAmt02102
IRS990ScheduleD/RevenueNotReportedAmt02102
IRS990ScheduleD/RevenueSubtotalAmt02702904
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Pupil Activity Agency Fund is used to account for financial transactions related to school-sponsored pupil organizations and activities. These activities are self-supporting and do not receive any direct or indirect Academy support.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Cash basis adjustments $2102
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Cash basis adjustment $46495
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Depreciation adjustment $6874
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 1b: Why is organization an agent, trustee, custodian or other intermediary for contrib
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S
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IRS990ScheduleD/TotalLiabilityAmt05280000
IRS990ScheduleD/TotalRevenuePerForm990Amt02702904
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IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The Knowledge Quest Academy (the Academy) received a grant from the State of Colorado to help with the cost of capital acquisitions, including, but not limited to, repayment of the certificates of particiaption issued on its behalf by the KQA Building Corporation.The Academy receives funding in the amount of 95% of its per pupil revenues for each pupil enrolled in the school for whom Weld County School District RE-5J (the District) receives funding, less deductions for purchased services or other deductions as allowed by Colorado School Laws and as stipulated in its charter. Additionally, the District shall provide to the Academy the Academy's proportionate share of federal and state categorical aid received by the District.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A draft copy of the Form 990 was provided to the board with members reviewing the document thoroughly and approving it for filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1See Schedule O.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt05380335
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IRS990/TotalLiabilitiesGrp/BOYAmt05375000
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05246890

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,380,335
Liabilities
$5,280,000
Net assets
$100,335
Revenue
$2,702,904
Expenses
$2,474,459
Net income
$228,445
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$5.38$5.28$0.10$2.70$2.47$0.23