Civic Intelligence

Hillcrest Academy Inc

990 • Fiscal year 2014 • EIN 86-0658004

Jul 01, 2013 to Jun 30, 2014 • Filed on May 15, 2015

Organization Profilewww.hillcresthawks.com
4710 E Baseline85206

(480) 325-8950

Siviq Scores

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

Liabilities / Assets

98th percentile

1.58x

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

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

Liabilities / Revenue

96th percentile

10.73x

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

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

Net Margin

1st percentile

-191%

Higher net margin than 1% 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

95th percentile

64%

Faster asset growth than 95% of similar nonprofits.

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

Revenue Growth

78th percentile

21%

Faster revenue growth than 78% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$5,292,993

Up $2,073,050 (+64%) from 2013

Net Assets

Down

-$3,065,088

Down $1,465,903 (-92%) from 2013

Liabilities

Up

$8,358,081

Up $3,538,953 (+73%) from 2013

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin1st percentile

Revenue

Up

$779,135

Up $137,204 (+21%) from 2013

Expenses

Up

$2,267,095

Up $920,025 (+68%) from 2013

Net Income

Down

-$1,487,960

Down $782,821 (-111%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$30M$20M$10M$0-$10MAssets 2011: $3,322,646Liabilities 2011: $4,048,072Net Assets 2011: -$725,4262011Assets 2012: $3,149,500Liabilities 2012: $4,043,546Net Assets 2012: -$894,0462012Assets 2013: $3,219,943Liabilities 2013: $4,819,128Net Assets 2013: -$1,599,1852013Assets 2014: $5,292,993Liabilities 2014: $8,358,081Net Assets 2014: -$3,065,0882014Assets 2015: $16,839,176Liabilities 2015: $24,038,615Net Assets 2015: -$7,199,4392015

Highlighted filing

2014

Assets$5,292,993
Liabilities$8,358,081
Net Assets-$3,065,088
Open 2014 Filing

Operations Trend

Revenue Growth78th percentile

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

$5.0M$0-$5.0MRevenue 2011: $903,093Expenses 2011: $1,418,474Net Income 2011: -$515,3812011Revenue 2012: $1,090,888Expenses 2012: $1,259,508Net Income 2012: -$168,6202012Revenue 2013: $641,931Expenses 2013: $1,347,070Net Income 2013: -$705,1392013Revenue 2014: $779,135Expenses 2014: $2,267,095Net Income 2014: -$1,487,9602014Revenue 2015: $864,963Expenses 2015: $4,949,316Net Income 2015: -$4,084,3532015

Highlighted filing

2014

Revenue$779,135
Expenses$2,267,095
Net Income-$1,487,960
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 15, 2015
Return Version
2013v4.0
Gross Receipts
$807,920
Mission and Program Overview

Mission

We strive to inspire students to become life-long learners who understand and respect our culturally diverse world. Learning means more than simply adding knowledge. It also means thinking critically about added knowledge and assimilating it in a broader cultural context.

Hillcrest is committed to create a network of academically rigorous, traditional values-based and safe-learning environments. We elevate academic achievement to internationally competitive levels among all students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,639,432$4,508,426▲ $1,868,994
Loans From Officers Directors$11,423$1,181,689▲ $1,170,266
Prepaid Expenses and Deferred Charges$499,145$689,679▲ $190,534
Accounts Receivable$54,189$52,577▼ $1,612
Cash and Non-Interest-Bearing Accounts$27,177$42,311▲ $15,134
Total Assets$3,219,943$5,292,993▲ $2,073,050
Liabilities
Tax Exempt Bond Liabilities$3,662,679$3,504,330▼ $158,349
Other Liabilities$789,507$2,692,658▲ $1,903,151
Accounts Payable and Accrued Expenses$205,519$490,539▲ $285,020
Mortgage Notes Payable Secured by Investment Property-$482,090-
Unsecured Notes Loans Payable$150,000--
Deferred Revenue-$6,775-
Total Liabilities$4,819,128$8,358,081▲ $3,538,953
Net Assets / Fund Balance
Unrestricted Net Assets$-1,599,185$-3,065,088▼ $1,465,903
Total Net Assets Fund Balance$-1,599,185$-3,065,088▼ $1,465,903
Total Liabilities and Net Assets / Fund Balance$3,219,943$5,292,993▲ $2,073,050

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,968,513$4,080$1,972,593
Land$1,500,000-$1,500,000
Buildings$919,862$364,723$1,284,585
Equipment$120,051$87,835$207,886
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Ryan ChristensenPresident/Chairman
Jarad HunsakerVice-President
Gordon DigbyMember
Laurent BadouxMember
Michelle ShelbyMember
Michael ScottSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$60,866
Program Service Revenue
$577,253
Investment Income
$-24,285
Other Revenue
$165,301
All Other Contributions
$4,223
Change in Net Assets
$-1,487,960

Audited Revenue Reconciliation

Revenue per Audited Statements
$779,135
Revenue Not Reported on Form 990
$24,660
Total Revenue per Audited Statements
$803,795
Total Revenue per Form 990
$779,135
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,322,393
Salaries, Compensation, and Employee Benefits$944,702
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$802,997$141,705-$944,702
Interest$291,705$229,196-$520,901
Depreciation Depletion$95,971$23,993-$119,964
Fees for Services Legal$81,586$14,397-$95,983
All Other Expenses$78,007$13,766-$91,773
Occupancy$56,706$10,007-$66,713
Advertising-$66,374-$66,374
Other Expenses$23,153$4,086-$27,239
Insurance$16,780$2,961-$19,741
Office Expenses$10,425$1,840-$12,265
Information Technology$7,723$1,363-$9,086
Conferences and Meetings$5,550$979-$6,529
Travel$2,480$438-$2,918
Total Functional Expenses$1,715,060$552,035$0$2,267,095

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,319,696
Expenses per Audited Statements$2,267,095
Total Expenses per Form 990$2,267,095
Expenses Not Reported on Form 990$52,601
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Business owned by the directorLeased employeesNo$924,353
-Business owned by the directorRented office spaceNo$7,236

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$11,423$1,181,689▲ $1,170,266
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$2,656,947
Lines of Credit$35,711
Capital Lease Payable-
Other Liabilities-

Bond Issues

BondIssuerIssuedIssue PricePurpose
A86-04459842010-06-30$4,000,000School Facilities

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$4,000,000--$547,976
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
No
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 11A

“The School was unable to provide a copy of the form 990 to all board members prior to filing due to the late nature of completing the return.”

Form 990, Part VI, Section C, Line 19

“The School makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

EIN
86-0658004
Phone
4803258950

Signing Officer

Name
Ryan Christenson
Title
President
Signed
2015-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ryan Christensen
Formed
1990
Legal Domicile
Az
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Preparer
Darin Guthrie
Phone
5202074518
Supplemental Narrative

Financial Statement Notes

XII 2D

“Hillcrest Academy, Inc. is exempt from federal and state income taxes as an organization other than a private foundation under Section 501c3 of the internal revenue code and similar state provisions. Hillcrest Academys form 990, return of organization exempt from income tax are generally subject to examination for three years after they are filed.”

XI 2D

“Book to tax difference in gain/loss on disposal fo capital assets.”

XII 2D

“Book to tax difference in depreciation.”

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IRS990/ReconcilationRevenueExpnssAmt0-1487960
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt066462
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0676092
IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/FactsAndCircumstancesTestTxt0Part II Line 10 Gain on the sale of assets
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0638119
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0638119
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt066462
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt066462
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt098839
IRS990ScheduleA/OtherIncome170Grp/TotalAmt098839
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt0638119
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0638119
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0638119
IRS990ScheduleA/TotalSupportAmt0803420
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0919862
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0364723
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01284585
IRS990ScheduleD/EquipmentGrp/BookValueAmt0120051
IRS990ScheduleD/EquipmentGrp/DepreciationAmt087835
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0207886
IRS990ScheduleD/ExpensesNotReportedAmt052601
IRS990ScheduleD/ExpensesSubtotalAmt02267095
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt01500000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01500000
IRS990ScheduleD/OtherExpensesIncludedAmt052601
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01968513
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04080
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01972593
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02656947
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt135711
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Lines of Credit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Capital Lease Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Other Liabilities
IRS990ScheduleD/OtherRevenueAmt024660
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueNotReportedAmt024660
IRS990ScheduleD/RevenueSubtotalAmt0779135
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Hillcrest Academy, Inc. is exempt from federal and state income taxes as an organization other than a private foundation under Section 501c3 of the internal revenue code and similar state provisions. Hillcrest Academys form 990, return of organization exempt from income tax are generally subject to examination for three years after they are filed.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Book to tax difference in gain/loss on disposal fo capital assets.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Book to tax difference in depreciation.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0XII 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1XI 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2XII 2d
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04508426
IRS990ScheduleD/TotalExpensesPerForm990Amt02267095
IRS990ScheduleD/TotalLiabilityAmt02692658
IRS990ScheduleD/TotalRevenuePerForm990Amt0779135
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0803795
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02319696
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/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The school recieves monthly state equalization assistance funds, classroom site funds, and instructional improvement funds based on the number of students enrolled and attending the school. In addition, the school receives federal and state grants. These funds are used in accordance with the requirements set forth by the state of Arizona and the Federal Government.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06b
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02010-06-30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0860445984
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt04000000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine10Ida of Pima County AZ
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0School Facilities
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt03106771
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0345253
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0547976
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02010
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt04000000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine10Varsity Staffing LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine11Varsity Staffing LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Business owned by the director
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1Business owned by the director
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt07236
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1924353
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Rented office space
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1Leased employees
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0293264
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt1922105
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine10Varsity Staffing LLC
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X

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
$5,292,993
Liabilities
$8,358,081
Net assets
-$3,065,088
Revenue
$779,135
Expenses
$2,267,095
Net income
-$1,487,960
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$16.8$24.0$7.20$0.86$4.95$4.08
2014Detailed filing. Detailed filing data is available for this year.$5.29$8.36$3.07$0.78$2.27$1.49
2013Summary only. Only limited summary data is available for this year.$3.22$4.82$1.60$0.64$1.35$0.71
2012Summary only. Only limited summary data is available for this year.$3.15$4.04$0.89$1.09$1.26$0.17
2011Summary only. Only limited summary data is available for this year.$3.32$4.05$0.73$0.90$1.42$0.52