Civic Intelligence

The Palm Valley School

990 • Fiscal year 2017 • EIN 95-2133079

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 13, 2017

Organization ProfileWWW.PVS.ORG

View Organization Page

35525 Da Vall DrRancho Mirage, CA 92270

(760) 328-0861

Siviq Scores

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

Liabilities / Assets

69th percentile

0.45x

Higher debt load relative to assets than 69% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

83rd percentile

1.35x

Higher debt load relative to revenue than 83% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

11th percentile

-17%

Higher net margin than 11% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

51st percentile

$174,611

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

22nd percentile

-2.4%

Faster asset growth than 22% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

23rd percentile

-4.7%

Faster revenue growth than 23% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets69th percentile

Assets

Down

$17,028,418

Down $410,105 (-2.4%) from 2016

Net Assets

Down

$9,398,133

Down $915,135 (-8.9%) from 2016

Liabilities

Up

$7,630,285

Up $505,030 (+7.1%) from 2016

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin11th percentile

Revenue

Down

$5,645,834

Down $279,234 (-4.7%) from 2016

Expenses

Down

$6,609,376

Down $400,283 (-5.7%) from 2016

Net Income

Up

-$963,542

Up $121,049 (+11%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$30M$20M$10M$0Assets 2012: $20,528,533Liabilities 2012: $8,999,795Net Assets 2012: $11,528,7382012Assets 2013: $19,257,807Liabilities 2013: $8,098,302Net Assets 2013: $11,159,5052013Assets 2014: $20,139,961Liabilities 2014: $7,727,381Net Assets 2014: $12,412,5802014Assets 2015: $18,800,698Liabilities 2015: $7,350,237Net Assets 2015: $11,450,4612015Assets 2016: $17,438,523Liabilities 2016: $7,125,255Net Assets 2016: $10,313,2682016Assets 2017: $17,028,418Liabilities 2017: $7,630,285Net Assets 2017: $9,398,1332017Assets 2018: $16,108,696Liabilities 2018: $7,668,059Net Assets 2018: $8,440,6372018Assets 2019: $15,219,645Liabilities 2019: $8,136,320Net Assets 2019: $7,083,3252019Assets 2020: $14,050,076Liabilities 2020: $7,319,225Net Assets 2020: $6,730,8512020Assets 2021: $15,811,228Liabilities 2021: $7,999,529Net Assets 2021: $7,811,6992021Assets 2022: $14,833,118Liabilities 2022: $8,254,619Net Assets 2022: $6,578,4992022Assets 2023: $13,624,821Liabilities 2023: $7,884,361Net Assets 2023: $5,740,4602023Assets 2024: $12,681,291Liabilities 2024: $7,626,522Net Assets 2024: $5,054,7692024

Highlighted filing

2017

Assets$17,028,418
Liabilities$7,630,285
Net Assets$9,398,133
Open 2017 Filing

Operations Trend

Revenue Growth23rd percentile

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

$10M$5.0M$0-$5.0MRevenue 2012: $6,206,788Expenses 2012: $6,772,210Net Income 2012: -$565,4222012Expenses 2013: $7,082,7332013Revenue 2014: $7,987,873Expenses 2014: $6,782,116Net Income 2014: $1,205,7572014Revenue 2015: $6,349,992Expenses 2015: $7,262,891Net Income 2015: -$912,8992015Revenue 2016: $5,925,068Expenses 2016: $7,009,659Net Income 2016: -$1,084,5912016Revenue 2017: $5,645,834Expenses 2017: $6,609,376Net Income 2017: -$963,5422017Revenue 2018: $6,406,217Expenses 2018: $7,355,538Net Income 2018: -$949,3212018Revenue 2019: $6,289,320Expenses 2019: $7,636,934Net Income 2019: -$1,347,6142019Revenue 2020: $7,468,000Expenses 2020: $7,820,474Net Income 2020: -$352,4742020Revenue 2021: $7,567,169Expenses 2021: $6,486,321Net Income 2021: $1,080,8482021Revenue 2022: $6,168,174Expenses 2022: $6,979,195Net Income 2022: -$811,0212022Revenue 2023: $7,026,513Expenses 2023: $7,864,552Net Income 2023: -$838,0392023Revenue 2024: $7,733,249Expenses 2024: $8,430,537Net Income 2024: -$697,2882024

Highlighted filing

2017

Revenue$5,645,834
Expenses$6,609,376
Net Income-$963,542
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 13, 2017
Return Version
2016v3.0
Gross Receipts
$5,776,872
Mission and Program Overview

Mission

Palm valley school is an exceptional learning community that educates, nurtures, and challenges each student to achieve excellence and contribute to our global society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,197,174$15,364,399▼ $832,775
Cash and Non-Interest-Bearing Accounts$546,070$700,906▲ $154,836
Investments in Publicly Traded Securities$568,816$619,439▲ $50,623
Accounts Receivable$41,274$223,000▲ $181,726
Prepaid Expenses and Deferred Charges$57,509$48,174▼ $9,335
Pledges and Grants Receivable$25,000$0▼ $25,000
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$17,438,523$17,028,418▼ $410,105
Other Assets Total$2,680$72,500▲ $69,820
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,594,217$5,457,049▼ $137,168
Deferred Revenue$1,079,893$1,757,737▲ $677,844
Accounts Payable and Accrued Expenses$451,145$415,499▼ $35,646
Total Liabilities$7,125,255$7,630,285▲ $505,030
Net Assets / Fund Balance
Unrestricted Net Assets$10,191,015$9,270,127▼ $920,888
Permanently Rstr Net Assets$80,272$80,272→ $0
Temporarily Rstr Net Assets$41,981$47,734▲ $5,753
Total Net Assets Fund Balance$10,313,268$9,398,133▼ $915,135
Total Liabilities and Net Assets / Fund Balance$17,438,523$17,028,418▼ $410,105

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,438,539$7,363,070$18,801,609
Leasehold Improvements$2,088,888$1,826,908$3,915,796
Land$1,281,463-$1,281,463
Equipment$411,815$719,833$1,131,648
Other Land Buildings$143,694$235,546$379,240

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$546,842-▲ $57,869-$586,860
2015$583,835-▼ $19,319-$546,842
2014$633,296-▼ $19,309-$583,835
2013$611,691-▲ $51,530-$633,296
2012$581,797-▲ $51,294-$611,691
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Susan RiceHead of SchoolFT$172,211$2,400$174,611

Board Members and Trustees

NameTitle
Gail KocenChairperson
David Mulevice Chair
Bryan JensenTrustee
Jaci FitzsimondsTrustee
Jason HuskeyTrustee
John ShayTrustee
Kimberley YangTrustee
Laura NeilTrustee
Timothy JochenTrustee
Thomas G ClarkeSecretary
Jennifer JenkinsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$382,547
Program Service Revenue
$5,077,584
Investment Income
$58,158
Other Revenue
$127,545
All Other Contributions
$382,547
Change in Net Assets
$-963,542

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,645,834
Revenue Not Reported on Form 990
$162,297
Total Revenue per Audited Statements
$5,808,131
Total Revenue per Form 990
$5,645,834
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,043,742
Other Expenses$2,565,634
Total Fundraising Expense$40,438
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,645,603$846,592$35,275$3,527,470
Depreciation Depletion$624,581$208,194-$832,775
All Other Expenses$376,664$18,365-$395,029
Other Employee Benefits$256,246$81,998$3,417$341,661
Interest$176,446$58,815-$235,261
Current Officers, Directors, Trustees, and Key Employees$130,958$41,907$1,746$174,611
Other Expenses$108,487$36,162-$144,649
Fees for Services Other$116,074$18,357-$134,431
Insurance$104,890$11,655-$116,545
Advertising-$35,325-$35,325
Fees for Services Accounting-$15,500-$15,500
Total Functional Expenses$4,991,174$1,577,764$40,438$6,609,376

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,723,266
Expenses per Audited Statements$6,609,376
Total Expenses per Form 990$6,609,376
Expenses Not Reported on Form 990$113,890
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$210,430
Fundraising Direct Expenses$113,890
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$177,079$177,079$26,193$150,886
Wine Tasting$17,455$17,455$5,270$12,185
Total Events$210,430$210,430$113,890$96,540
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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

“Annual board meeting discussion.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Annual board meeting discussion.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The compensation committee reviews the headmaster's contract with comparative data from other independent schools as reported by the california association of independent schools, as well as national and local data from similar institutions.”

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

“Documents are available by request to the headmaster or the business manager through the school's administrative office.”

Filing and Contact Details

Filer

Filer Name
The Palm Valley School
EIN
95-2133079
Phone
7603280861
Address
35525 Da Vall Dr, Rancho Mirage, CA 92270

Signing Officer

Name
Gail Kocen
Title
Chair
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
9
Employees
134
Volunteers
150

Preparer

Firm
Maryanov Madsen Gordon Campbell
Address
PO Box 1826, PALM SPRINGS, CA 92263-1826
Preparer
Steven T Erickson CPA
Phone
7603206642
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“The organization's audit committee reviews the audit and meets with the auditor prior to the audit report being finalized.”

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

“The School's endowment consists of funds established for a variety of purposes. Its endowment includes both donor-restricted funds and funds designated by the Board of Trustees to function as endowments. As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions.”

Part X : FIN48 Footnote

“The School is a not-for-profit organization exempt from taxes under Section 501(c)(3) of the Internal Revenue Code. The School has not engaged in any activities subject to income tax on unrelated business income; therefore, no provision has been made for income taxes.The School's policy is to record income tax related interest and penalties in operating expenses. For the years ended June 30, 2017 and 2016, there was no interest or penalties expense recorded and no accrued interest and penalties. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the School and recognize a tax liability (or asset) if the School has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Management has analyzed the tax positions taken by the School, and has concluded that as of June 30, 2017 and 2016 there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The School is subject to routine audits by taxing jurisdictions; however there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations by the IRS prior to 2013 or the FTB prior to 2012.”

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

“Special event direct expenses $113890”

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

“Special event direct expenses $113890”

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IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9vice Chair
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Palm Valley School is an exceptional learning community that educates, nurtures, and challenges each student to achieve excellence and contribute to our global society.
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IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt096540
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt096540
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt02680
IRS990/OtherAssetsTotalGrp/EOYAmt072500
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt03417
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt081998
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0341661
IRS990/OtherExpensesGrp/Desc0UTILITIES
IRS990/OtherExpensesGrp/Desc1REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc2OTHER OVERHEAD
IRS990/OtherExpensesGrp/Desc3SUPPLIE, POSTAGE, & PRINTING
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt065244
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt157922
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt281728
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt336162
IRS990/OtherExpensesGrp/ProgramServicesAmt0195731
IRS990/OtherExpensesGrp/ProgramServicesAmt1173766
IRS990/OtherExpensesGrp/ProgramServicesAmt281728
IRS990/OtherExpensesGrp/ProgramServicesAmt3108487
IRS990/OtherExpensesGrp/TotalAmt0260975
IRS990/OtherExpensesGrp/TotalAmt1231688
IRS990/OtherExpensesGrp/TotalAmt2163456
IRS990/OtherExpensesGrp/TotalAmt3144649
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IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherRevenueTotalAmt027905
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt035275
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02645603
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt080272
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt080272
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IRS990/ProfessionalFundraisingInd0false
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IRS990/PYInvestmentIncomeAmt074157
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IRS990/PYOtherExpensesAmt02930360
IRS990/PYOtherRevenueAmt0119428
IRS990/PYProgramServiceRevenueAmt05271576
IRS990/PYRevenuesLessExpensesAmt0-1084591
IRS990/PYSalariesCompEmpBnftPaidAmt04079299
IRS990/PYTotalExpensesAmt07009659
IRS990/PYTotalRevenueAmt05925068
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IRS990/QuidProQuoContriDisclInd0true
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,028,418
Liabilities
$7,630,285
Net assets
$9,398,133
Revenue
$5,645,834
Expenses
$6,609,376
Net income
-$963,542
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$7.63$5.05$7.73$8.43$0.70
2023Summary only. Only limited summary data is available for this year.$13.6$7.88$5.74$7.03$7.86$0.84
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.8$8.25$6.58$6.17$6.98$0.81
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.8$8.00$7.81$7.57$6.49$1.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.1$7.32$6.73$7.47$7.82$0.35
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.2$8.14$7.08$6.29$7.64$1.35
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.1$7.67$8.44$6.41$7.36$0.95
2017Detailed filing. Detailed filing data is available for this year.$17.0$7.63$9.40$5.65$6.61$0.96
2016Detailed filing. Detailed filing data is available for this year.$17.4$7.13$10.3$5.93$7.01$1.08
2015Detailed filing. Detailed filing data is available for this year.$18.8$7.35$11.5$6.35$7.26$0.91
2014Summary only. Only limited summary data is available for this year.$20.1$7.73$12.4$7.99$6.78$1.21
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.3$8.10$11.2$7.08
2012Summary only. Only limited summary data is available for this year.$20.5$9.00$11.5$6.21$6.77$0.57