Civic Intelligence

Pace Preparatory Academy Inc.

990 • Fiscal year 2019 • EIN 86-0989368

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 09, 2020

Organization ProfileWWW.PACEACADEMY.COM
6120 E Via Estrella AveParadise Valley, AZ 85253

(928) 301-5484

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.11x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

92nd percentile

2.28x

Higher debt load relative to revenue than 92% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

20th percentile

-10%

Higher net margin than 20% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

45th percentile

1.6%

Faster asset growth than 45% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

22nd percentile

-9.8%

Faster revenue growth than 22% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$1,812,963

Up $28,002 (+1.6%) from 2018

Net Assets

Down

-$193,114

Down $90,520 (-88%) from 2018

Liabilities

Up

$2,006,077

Up $118,522 (+6.3%) from 2018

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin20th percentile

Revenue

Down

$881,440

Down $96,110 (-9.8%) from 2018

Expenses

Up

$971,960

Up $43,555 (+4.7%) from 2018

Net Income

Down

-$90,520

Down $139,665 (-284%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth45th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $303,790Liabilities 2010: $121,686Net Assets 2010: $182,1042010Assets 2011: $242,910Liabilities 2011: $67,189Net Assets 2011: $175,7212011Assets 2012: $271,676Liabilities 2012: $185,319Net Assets 2012: $86,3572012Assets 2013: $317,071Liabilities 2013: $136,766Net Assets 2013: $180,3052013Assets 2014: $204,412Liabilities 2014: $325,263Net Assets 2014: -$120,8512014Assets 2015: $1,959,064Liabilities 2015: $2,241,986Net Assets 2015: -$282,9222015Assets 2016: $1,917,520Liabilities 2016: $2,186,081Net Assets 2016: -$268,5612016Assets 2017: $1,813,006Liabilities 2017: $2,028,331Net Assets 2017: -$215,3252017Assets 2018: $1,784,961Liabilities 2018: $1,887,555Net Assets 2018: -$102,5942018Assets 2019: $1,812,963Liabilities 2019: $2,006,077Net Assets 2019: -$193,1142019Assets 2020: $1,882,057Liabilities 2020: $1,863,162Net Assets 2020: $18,8952020Assets 2021: $1,865,161Liabilities 2021: $1,808,320Net Assets 2021: $56,8412021Assets 2022: $1,853,760Liabilities 2022: $1,864,557Net Assets 2022: -$10,7972022Assets 2023: $1,758,915Liabilities 2023: $1,655,719Net Assets 2023: $103,1962023Assets 2025: $2,451,203Liabilities 2025: $1,405,234Net Assets 2025: $1,045,9692025

Highlighted filing

2019

Assets$1,812,963
Liabilities$2,006,077
Net Assets-$193,114
Open 2019 Filing

Operations Trend

Revenue Growth22nd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $757,7222010Expenses 2011: $829,3112011Revenue 2012: $795,781Expenses 2012: $885,145Net Income 2012: -$89,3642012Revenue 2013: $960,368Expenses 2013: $866,420Net Income 2013: $93,9482013Revenue 2014: $884,082Expenses 2014: $985,238Net Income 2014: -$101,1562014Revenue 2015: $822,862Expenses 2015: $973,666Net Income 2015: -$150,8042015Revenue 2016: $967,912Expenses 2016: $929,755Net Income 2016: $38,1572016Revenue 2017: $1,106,807Expenses 2017: $1,053,571Net Income 2017: $53,2362017Revenue 2018: $977,550Expenses 2018: $928,405Net Income 2018: $49,1452018Revenue 2019: $881,440Expenses 2019: $971,960Net Income 2019: -$90,5202019Revenue 2020: $1,177,174Expenses 2020: $965,165Net Income 2020: $212,0092020Revenue 2021: $1,353,437Expenses 2021: $1,315,491Net Income 2021: $37,9462021Revenue 2022: $1,244,338Expenses 2022: $1,333,171Net Income 2022: -$88,8332022Revenue 2023: $1,439,940Expenses 2023: $1,325,947Net Income 2023: $113,9932023Revenue 2025: $2,115,974Expenses 2025: $1,507,580Net Income 2025: $608,3942025

Highlighted filing

2019

Revenue$881,440
Expenses$971,960
Net Income-$90,520
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 9, 2020
Return Version
2018v3.2
Gross Receipts
$881,440
Mission and Program Overview

Mission

Pace academy's mission is to provide a safe environment where all students can acquire an alternative, focused, individualized educational program designed to enable them to earn and recover credit in order to graduate and become self-motivated adn competent adults who are prepared for a career or college.

To enable students to become self-motivated, competent, life long learners equipped with the reading, writing, technological and problem solving skills necessary to become contributing members of society in the 21st century.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,598,424$1,548,866▼ $49,558
Cash and Non-Interest-Bearing Accounts$76,761$145,838▲ $69,077
Accounts Receivable$66,900$96,900▲ $30,000
Pledges and Grants Receivable$32,010$13,415▼ $18,595
Total Assets$1,784,961$1,812,963▲ $28,002
Other Assets Total$10,866$7,944▼ $2,922
Liabilities
Other Liabilities$1,859,830$1,938,115▲ $78,285
Accounts Payable and Accrued Expenses$27,725$67,962▲ $40,237
Total Liabilities$1,887,555$2,006,077▲ $118,522
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,379$3,470▼ $909
Unrestricted Net Assets$-106,973$-196,584▼ $89,611
Total Net Assets Fund Balance$-102,594$-193,114▼ $90,520
Total Liabilities and Net Assets / Fund Balance$1,784,961$1,812,963▲ $28,002

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,548,362$547,729$2,096,091
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
William SakelariosPresident/di
Candice ChapmanDirector
Peggy SarkisianSecretary
Candice ChapmanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$881,440
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$119,406
Change in Net Assets
$-90,520

Audited Revenue Reconciliation

Revenue per Audited Statements
$881,440
Total Revenue per Audited Statements
$881,440
Total Revenue per Form 990
$881,440
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$509,865
Other Expenses$462,095
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$268,846$138,210-$407,056
Interest$88,210$22,052-$110,262
Occupancy$65,687$22,965-$88,652
Other Employee Benefits$57,461$29,540-$87,001
Fees for Services Other$73,975$12,223-$86,198
Depreciation Depletion-$79,406-$79,406
Fees for Services Accounting-$45,990-$45,990
Office Expenses$18,909$7,901-$26,810
Payroll Taxes$7,378$8,430-$15,808
Insurance$12,243$3,061-$15,304
Advertising-$3,129-$3,129
Fees for Services Legal-$1,781-$1,781
Other Expenses$4,336$174-$174
Travel-$53-$53
Total Functional Expenses$597,045$374,915$0$971,960

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$971,960
Total Expenses per Audited Statements$971,960
Total Expenses per Form 990$971,960
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
New Building Loan$1,754,505
Note Payable to Related Party$85,000
Capital Leases$51,166
Accrued Payroll$23,973
Deferred/unearned Revenue$21,056
Due to Sterling$2,415
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
Yes
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
Yes
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, Page 6, Part VI, Line 11B

“The organization reviews the 990 at a board meeting prior to filing the return.”

Form 990, Page 6, Part VI, Line 15B

“The governing board reviews and approves compensation amounts of all top management officials and members. This approval is documented in the board's meeting minutes. In addition, the board reviews salary and performance studies comparing other charter schools in determining the compensation amounts of all top management officials and members.”

Form 990, Page 6, Part VI, Line 19

“Made available upon request.”

Filing and Contact Details

Filer

Filer Name
Pace Preparatory Academy Inc
EIN
86-0989368
Phone
9283015484
Address
6120 E VIA ESTRELLA AVE, PARADISE VALLEY, AZ 85253

Signing Officer

Name
William Sakelarios
Title
President/director
Phone
9286349524
Signed
2020-04-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Sakelarios
Formed
2000
Legal Domicile
Az
Voting Board Members
3
Independent Board Members
3
Employees
10

Preparer

Firm
Sterling Accounting & Tax
Address
830 S MAIN ST STE 1A, COTTONWOOD, AZ 86326-4621
Preparer
Marc Sterling
Phone
9286349524
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To enable students to become self-motivated, competent, life long learners equipped with the reading, writing, technological and problem solving skills necessary to become contributing members of society in the 21st century.”

Form 990, Page 2, Part III, Line 4D

“To enable students to become self-motivated, competent, life long learners equipped with the reading, writing, technological and problem solving skills necessary to become contributing members of society in the 21st century.”

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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/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL RECEIVES REVENUE FROM THE FEDERAL AND STATE GOVERNMENTS FOR EDUCATIONAL PROGRAMS AND FROM THE STATE OF ARIZONA FOR STATE EQUALIZATION ASSISTANCE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 6
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt2ENCHANTED HOMES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt3STERLING ACCOUNTING AND TAX LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0WIFE OF BRD MEM
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1BRD MEM OWNED
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PURCHASED SERIVCES
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2RENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3ACCOUNTING SERVICES
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ENABLE STUDENTS TO BECOME SELF-MOTIVATED, COMPETENT, LIFE LONG LEARNERS EQUIPPED WITH THE READING, WRITING, TECHNOLOGICAL AND PROBLEM SOLVING SKILLS NECESSARY TO BECOME CONTRIBUTING MEMBERS OF SOCIETY IN THE 21ST CENTURY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO ENABLE STUDENTS TO BECOME SELF-MOTIVATED, COMPETENT, LIFE LONG LEARNERS EQUIPPED WITH THE READING, WRITING, TECHNOLOGICAL AND PROBLEM SOLVING SKILLS NECESSARY TO BECOME CONTRIBUTING MEMBERS OF SOCIETY IN THE 21ST CENTURY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION REVIEWS THE 990 AT A BOARD MEETING PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING BOARD REVIEWS AND APPROVES COMPENSATION AMOUNTS OF ALL TOP MANAGEMENT OFFICIALS AND MEMBERS. THIS APPROVAL IS DOCUMENTED IN THE BOARD'S MEETING MINUTES. IN ADDITION, THE BOARD REVIEWS SALARY AND PERFORMANCE STUDIES COMPARING OTHER CHARTER SCHOOLS IN DETERMINING THE COMPENSATION AMOUNTS OF ALL TOP MANAGEMENT OFFICIALS AND MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
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IRS990/TaxExemptBondsInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0374915
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0597045
IRS990/TotalFunctionalExpensesGrp/TotalAmt0971960
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01887555
IRS990/TotalLiabilitiesEOYAmt02006077
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-193114
IRS990/TotalOtherProgSrvcExpenseAmt0185049
IRS990/TotalProgramServiceExpensesAmt0597045
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0881440
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01812963
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IRS990/TravelGrp/TotalAmt053
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IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-196584
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IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.PACEACADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-22 18:59:49Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM SAKELARIOS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09286349524
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PACE PREPARATORY ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0PACE
ReturnHeader/Filer/EIN0860989368
ReturnHeader/Filer/PhoneNum09283015484
ReturnHeader/Filer/USAddress/AddressLine1Txt06120 E VIA ESTRELLA AVE
ReturnHeader/Filer/USAddress/CityNm0PARADISE VALLEY
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0516BE14A2574A1FE124AE804B035BEAD1E7E5646
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0516BE14A2574A1FE124AE804B035BEAD1E7E5646
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.119.102.165
ReturnHeader/FilingSecurityInformation/IPDt02020-04-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm019:28:05
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205381339
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STERLING ACCOUNTING & TAX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0830 S MAIN ST STE 1A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COTTONWOOD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AZ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0863264621
ReturnHeader/PreparerPersonGrp/PhoneNum09286349524
ReturnHeader/PreparerPersonGrp/PreparationDt02020-04-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARC STERLING
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-04-09T19:28:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,812,963
Liabilities
$2,006,077
Net assets
-$193,114
Revenue
$881,440
Expenses
$971,960
Net income
-$90,520
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.45$1.41$1.05$2.12$1.51$0.61
2023Detailed filing. Detailed filing data is available for this year.$1.76$1.66$0.10$1.44$1.33$0.11
2022Detailed filing. Detailed filing data is available for this year.$1.85$1.86$0.01$1.24$1.33$0.09
2021Detailed filing. Detailed filing data is available for this year.$1.87$1.81$0.06$1.35$1.32$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.88$1.86$0.02$1.18$0.97$0.21
2019Detailed filing. Detailed filing data is available for this year.$1.81$2.01$0.19$0.88$0.97$0.09
2018Detailed filing. Detailed filing data is available for this year.$1.78$1.89$0.10$0.98$0.93$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.81$2.03$0.22$1.11$1.05$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.92$2.19$0.27$0.97$0.93$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.96$2.24$0.28$0.82$0.97$0.15
2014Detailed filing. Detailed filing data is available for this year.$0.20$0.33$0.12$0.88$0.99$0.10
2013Summary only. Only limited summary data is available for this year.$0.32$0.14$0.18$0.96$0.87$0.09
2012Summary only. Only limited summary data is available for this year.$0.27$0.19$0.09$0.80$0.89$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.24$0.07$0.18$0.83
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.30$0.12$0.18$0.76