Civic Intelligence

Kingdom Vision Legacy Fund

990 • Fiscal year 2023 • EIN 85-2525985

Jul 01, 2022 to Jun 30, 2023 • Filed on May 13, 2024

Organization ProfileN/A
1212 Warrior WayPrescott, AZ 86305

(928) 445-6306

Siviq Scores

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

Liabilities / Assets

68th percentile

0.37x

Higher debt load relative to assets than 68% of similar nonprofits.

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

Liabilities / Revenue

93rd percentile

4.17x

Higher debt load relative to revenue than 93% of similar nonprofits.

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

Net Margin

99th percentile

99%

Higher net margin than 99% of similar nonprofits.

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

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

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

Asset Growth

68th percentile

13%

Faster asset growth than 68% of similar nonprofits.

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

Revenue Growth

12th percentile

-31%

Faster revenue growth than 12% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$13,405,992

Up $1,580,950 (+13%) from 2022

Net Assets

Up

$8,391,576

Up $1,755,066 (+26%) from 2022

Liabilities

Down

$5,014,416

Down $174,116 (-3.4%) from 2022

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin99th percentile

Revenue

Down

$1,202,481

Down $543,165 (-31%) from 2022

Expenses

Down

$12,931

Down $146,175 (-92%) from 2022

Net Income

Down

$1,189,550

Down $396,990 (-25%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$15M$10M$5.0M$0Assets 2021: $8,969,965Liabilities 2021: $3,919,995Net Assets 2021: $5,049,9702021Assets 2022: $11,825,042Liabilities 2022: $5,188,532Net Assets 2022: $6,636,5102022Assets 2023: $13,405,992Liabilities 2023: $5,014,416Net Assets 2023: $8,391,5762023Assets 2024: $12,970,142Liabilities 2024: $4,831,652Net Assets 2024: $8,138,4902024

Highlighted filing

2023

Assets$13,405,992
Liabilities$5,014,416
Net Assets$8,391,576
Open 2023 Filing

Operations Trend

Revenue Growth12th percentile

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

$3.0M$2.0M$1.0M$0Revenue 2021: $2,786,097Expenses 2021: $356Net Income 2021: $2,785,7412021Revenue 2022: $1,745,646Expenses 2022: $159,106Net Income 2022: $1,586,5402022Revenue 2023: $1,202,481Expenses 2023: $12,931Net Income 2023: $1,189,5502023Revenue 2024: $932,404Expenses 2024: $521,295Net Income 2024: $411,1092024

Highlighted filing

2023

Revenue$1,202,481
Expenses$12,931
Net Income$1,189,550
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 13, 2024
Return Version
2022v5.0
Gross Receipts
$1,202,481
Mission and Program Overview

Mission

Kingdom Vision Legacy Fund is organized, and shall be operated exclusively for the support of Trinity Christian School activities.

Kingdom vision legacy fund is organized and shall be operated exclusively for the support of trinity christian school activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,423,653$5,610,455▲ $4,186,802
Investments Other Securities-$411,254-
Cash and Non-Interest-Bearing Accounts$759,557$24,758▼ $734,799
Savings and Temporary Cash Investments$1,282,633$5,139▼ $1,277,494
Total Assets$11,825,042$13,405,992▲ $1,580,950
Other Assets Total$8,359,199$7,354,386▼ $1,004,813
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,186,032$5,011,916▼ $174,116
Other Liabilities$2,500$2,500→ $0
Total Liabilities$5,188,532$5,014,416▼ $174,116
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,436,510$8,191,576▲ $1,755,066
Net Assets With Donor Restrictions$200,000$200,000→ $0
Total Net Assets Fund Balance$6,636,510$8,391,576▲ $1,755,066
Total Liabilities and Net Assets / Fund Balance$11,825,042$13,405,992▲ $1,580,950

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,186,802-$4,186,802
Land$1,423,653-$1,423,653
Other Assets Org$7,354,386--
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Ron McgrawPresident
David SommervilleMember
Archie WrightSecretary
Cheryl MinnickTreasurer
Larry StanekVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$700,000
Program Service Revenue
$0
Investment Income
$3,481
Other Revenue
$499,000
Change in Net Assets
$1,189,550

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,202,481
Revenue Not Reported on Form 990
$92,326
Total Revenue per Audited Statements
$1,294,807
Total Revenue per Form 990
$1,202,481
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,931
Total Fundraising Expense$971
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$1,652$466$2,118
Other Expenses$346$229$505$346
Total Functional Expenses$4,359$7,601$971$12,931

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,931
Total Expenses per Audited Statements$12,931
Total Expenses per Form 990$12,931
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
Security Deposit$2,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“Self perpetuating board with approval by trinity board.”

Form 990, Page 6, Part VI, Line 7B

“Decisions they make about members is subject to governing board of trinity.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is prepared by independent cpa and reviewed by board of directors before it is filed with irs.”

Form 990, Page 6, Part VI, Line 12C

“The organization has a conflict of interest policy that the board is aware of and reviews at least annually.”

Form 990, Page 6, Part VI, Line 19

“Upon written request to the board of directors, a copy of this form 990 is available at the board's discretion”

Filing and Contact Details

Filer

Filer Name
Kingdom Vision Legacy Fund
EIN
85-2525985
Phone
9284456306
Address
1212 WARRIOR WAY, PRESCOTT, AZ 86305

Signing Officer

Name
Ron Mcgraw
Title
President
Phone
9284456306
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ron Mcgraw
Formed
2020
Legal Domicile
Az
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Jds Professional Group
Address
10303 E DRY CREEK RD STE 400, ENGLEWOOD, CO 80112
Preparer
Lori B Bauer CPA
Phone
3037710123
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional fees 0 1,652 466”

Form 990, Part XI, Line 9

“Net assets as of june 30, 2022 has been restated to capitalize the interest expense on bank loan to construction in progress in the amount of 154,262 and to record the change in value of derivative swap agreement in the amount of 318,928.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is exempt from income taxes under internal revenue code section 501(c)(3) and applicable arizona revised statutes. Contributions to the organization are tax-deductible within the limitations described by the code. As of june 30, 2023, the organization had no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. The organization will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. The organization believes they have had no unrelated business income for the years ended june 30, 2023 and 2022. Kvlf's informational tax returns are subject to review and examination by federal and state authorities. The tax returns for years ended june 30, 2020 to 2023 are open to examination by federal authorities and for the years ended june 30, 2019 to 2023 by state authorities.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND APPLICABLE ARIZONA REVISED STATUTES. CONTRIBUTIONS TO THE ORGANIZATION ARE TAX-DEDUCTIBLE WITHIN THE LIMITATIONS DESCRIBED BY THE CODE. AS OF JUNE 30, 2023, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. THE ORGANIZATION BELIEVES THEY HAVE HAD NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2023 AND 2022. KVLF'S INFORMATIONAL TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR YEARS ENDED JUNE 30, 2020 TO 2023 ARE OPEN TO EXAMINATION BY FEDERAL AUTHORITIES AND FOR THE YEARS ENDED JUNE 30, 2019 TO 2023 BY STATE AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt07354386
IRS990ScheduleD/TotalExpensesPerForm990Amt012931
IRS990ScheduleD/TotalLiabilityAmt02500
IRS990ScheduleD/TotalRevenuePerForm990Amt01202481
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SELF PERPETUATING BOARD WITH APPROVAL BY TRINITY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DECISIONS THEY MAKE ABOUT MEMBERS IS SUBJECT TO GOVERNING BOARD OF TRINITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PREPARED BY INDEPENDENT CPA AND REVIEWED BY BOARD OF DIRECTORS BEFORE IT IS FILED WITH IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY THAT THE BOARD IS AWARE OF AND REVIEWS AT LEAST ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON WRITTEN REQUEST TO THE BOARD OF DIRECTORS, A COPY OF THIS FORM 990 IS AVAILABLE AT THE BOARD'S DISCRETION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROFESSIONAL FEES 0 1,652 466
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NET ASSETS AS OF JUNE 30, 2022 HAS BEEN RESTATED TO CAPITALIZE THE INTEREST EXPENSE ON BANK LOAN TO CONSTRUCTION IN PROGRESS IN THE AMOUNT OF 154,262 AND TO RECORD THE CHANGE IN VALUE OF DERIVATIVE SWAP AGREEMENT IN THE AMOUNT OF 318,928.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt21500
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,405,992
Liabilities
$5,014,416
Net assets
$8,391,576
Revenue
$1,202,481
Expenses
$12,931
Net income
$1,189,550
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.0$4.83$8.14$0.93$0.52$0.41
2023Detailed filing. Detailed filing data is available for this year.$13.4$5.01$8.39$1.20$0.01$1.19
2022Detailed filing. Detailed filing data is available for this year.$11.8$5.19$6.64$1.75$0.16$1.59
2021Detailed filing. Detailed filing data is available for this year.$8.97$3.92$5.05$2.79$0.00$2.79