Civic Intelligence

Classical Education Growth Fund

990 • Fiscal year 2023 • EIN 88-4384220

Nov 22, 2022 to Jun 30, 2023 • Filed on Mar 26, 2024

Organization Profilewww.ascentclassical.org
4690 Table Mountain Drive Suite 100Golden, CO 80403

(720) 728-6303

Siviq Scores

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

Liabilities / Assets

95th percentile

1.04x

Higher debt load relative to assets than 95% of similar nonprofits.

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

Liabilities / Revenue

100th percentile

252.39x

Higher debt load relative to revenue than 100% of similar nonprofits.

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

Net Margin

1st percentile

-959%

Higher net margin than 1% 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

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets95th percentile

Assets

$16,675,289

No earlier filing loaded for comparison.

Net Assets

-$658,419

No earlier filing loaded for comparison.

Liabilities

$17,333,708

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

$68,677

No earlier filing loaded for comparison.

Expenses

$727,096

No earlier filing loaded for comparison.

Net Income

-$658,419

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2023: $16,675,289Liabilities 2023: $17,333,708Net Assets 2023: -$658,4192023Assets 2024: $14,708Liabilities 2024: $0Net Assets 2024: $14,7082024

Highlighted filing

2023

Assets$16,675,289
Liabilities$17,333,708
Net Assets-$658,419
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2023: $68,677Expenses 2023: $727,096Net Income 2023: -$658,4192023Revenue 2024: $16,083,934Expenses 2024: $15,410,807Net Income 2024: $673,1272024

Highlighted filing

2023

Revenue$68,677
Expenses$727,096
Net Income-$658,419
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Nov 22, 2022 to Jun 30, 2023
Signed
Mar 26, 2024
Return Version
2022v5.0
Gross Receipts
$68,677
Mission and Program Overview

Mission

See Schedule OThe Classical Education Growth Fund exists to serve as an entity through which classical-eucation public charter schools may, through lease arrangements, access long-term facilities at fixed costs tied to debt service so that such charter schools can in turn over time allocate their growing revenue to better support the instructional costs associated with operating a high-performing classical-education public charter school.

The Classical Education Growth Fund exists to serve as an entity through which classical-eucation public charter schools may, through lease arrangements, access long-term facilities at fixed costs tied to debt service so that such charter schools can in turn over time allocate their growing revenue to better support the instructional costs associated with operating a high-performing classical-education public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$9,436,704-
Land, Buildings, and Equipment, Net$0$7,185,718▲ $7,185,718
Cash and Non-Interest-Bearing Accounts-$52,867-
Total Assets$0$16,675,289▲ $16,675,289
Liabilities
Mortgage Notes Payable Secured by Investment Property-$16,900,000-
Accounts Payable and Accrued Expenses-$433,708-
Total Liabilities$0$17,333,708▲ $17,333,708
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$1,808,998-
Net Assets With Donor Restrictions-$-2,467,417-
Total Net Assets Fund Balance$0$-658,419▼ $658,419
Total Liabilities and Net Assets / Fund Balance$0$16,675,289▲ $16,675,289

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,310,718-$5,310,718
Land$1,875,000-$1,875,000
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Rob WilliamsPresident and Treasurer
Rick GillanVice President
Stacey BowmanEx-Officio
Revenue and Support

Revenue Composition

Contributions and Grants
$100
Program Service Revenue
$0
Investment Income
$68,577
Other Revenue
$0
All Other Contributions
$100
Change in Net Assets
$-658,419
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$727,096
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
Interest$705,794--$705,794
Other Expenses$21,302--$21,302
Total Functional Expenses$727,096$0$0$727,096
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“The Form 990 is prepared by the Organization's public accounting firm based on information provided by the management. Once a draft of the filing is available, the Form 990 is provided to all board members for review.”

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

“The bylaws state that any responsible person shall immediarely inform the board of any potential conflicts of interest. The Board then has the right to approve or deny the transaction. If the conflict of interest involved a board member the finance team and the Board of Directors at Ascent Classical Charter Schools, a supported organization, shall support the building corporation with financial oversight, potential conflicts of interest are discussed at the board meetings and documented in the meeting minutes.”

Form 990, Part VI, Section C, line 19

“The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public through its website.”

Filing and Contact Details

Filer

Filer Name
Classical Education Growth Fund
EIN
88-4384220
Phone
7207286303
Address
4690 Table Mountain Drive Suite 100, Golden, CO 80403

Signing Officer

Name
Rob Williams
Title
Board Chair
Phone
7207286303
Signed
2024-03-26
Discuss with paid preparer
No

Organization Details

Principal Officer
Rob Williams
Formed
2022
Legal Domicile
Co
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Hoelting & Company Inc
Address
31 East Platte Avenue Suite 300, Colorado Springs, CO 80903
Preparer
Thomas G Sistare
Phone
7196301091
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

“The finance committee oversees audit services and the selection of independent auditors. This has not changed from the prior year.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 is prepared by the Organization's public accounting firm based on information provided by the management. Once a draft of the filing is available, the Form 990 is provided to all board members for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The bylaws state that any responsible person shall immediarely inform the board of any potential conflicts of interest. The Board then has the right to approve or deny the transaction. If the conflict of interest involved a board member the finance team and the Board of Directors at Ascent Classical Charter Schools, a supported organization, shall support the building corporation with financial oversight, potential conflicts of interest are discussed at the board meetings and documented in the meeting minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public through its website.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The finance committee oversees audit services and the selection of independent auditors. This has not changed from the prior year.
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd080903
ReturnHeader/PreparerPersonGrp/PhoneNum07196301091
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Thomas G Sistare
ReturnHeader/ReturnTs02024-03-28T19:59:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Rob
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Williams
ReturnHeader/TaxPeriodBeginDt02022-11-22
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

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Filings

Displayed year

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

Open filing
Assets
$16,675,289
Liabilities
$17,333,708
Net assets
-$658,419
Revenue
$68,677
Expenses
$727,096
Net income
-$658,419
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$16.1$15.4$0.67
2023Detailed filing. Detailed filing data is available for this year.$16.7$17.3$0.66$0.07$0.73$0.66