Civic Intelligence

Maranatha High School

990 • Fiscal year 2014 • EIN 95-2401932

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

169 S St John Ave91105

(626) 817-4000

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.72x

Higher debt load relative to assets than 82% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

84th percentile

1.68x

Higher debt load relative to revenue than 84% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Net Margin

41st percentile

1.4%

Higher net margin than 41% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

33rd percentile

$182,985

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

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

Source year 2014

Revenue Growth

Score unavailable

No value available

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

Source year 2014

Assets

$37,938,236

No earlier filing loaded for comparison.

Net Assets

$10,506,206

No earlier filing loaded for comparison.

Liabilities

$27,432,030

No earlier filing loaded for comparison.

Revenue

$16,297,439

No earlier filing loaded for comparison.

Expenses

$16,061,137

No earlier filing loaded for comparison.

Net Income

$236,302

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2014: $37,938,236Liabilities 2014: $27,432,030Net Assets 2014: $10,506,2062014Assets 2015: $39,496,055Liabilities 2015: $29,231,576Net Assets 2015: $10,264,4792015Assets 2016: $40,248,104Liabilities 2016: $29,018,375Net Assets 2016: $11,229,7292016Assets 2017: $39,789,049Liabilities 2017: $27,977,706Net Assets 2017: $11,811,3432017Assets 2018: $39,632,178Liabilities 2018: $27,368,550Net Assets 2018: $12,263,6282018Assets 2019: $39,603,693Liabilities 2019: $27,150,213Net Assets 2019: $12,453,4802019Assets 2020: $37,751,450Liabilities 2020: $25,171,088Net Assets 2020: $12,580,3622020Assets 2021: $37,804,147Liabilities 2021: $24,668,631Net Assets 2021: $13,135,5162021Assets 2022: $38,306,499Liabilities 2022: $23,865,591Net Assets 2022: $14,440,9082022Assets 2023: $39,598,612Liabilities 2023: $24,718,556Net Assets 2023: $14,880,0562023Assets 2024: $50,631,759Liabilities 2024: $35,008,424Net Assets 2024: $15,623,3352024

Highlighted filing

2014

Assets$37,938,236
Liabilities$27,432,030
Net Assets$10,506,206

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2014: $16,297,439Expenses 2014: $16,061,137Net Income 2014: $236,3022014Revenue 2015: $16,684,454Expenses 2015: $16,936,796Net Income 2015: -$252,3422015Revenue 2016: $17,511,780Expenses 2016: $16,546,024Net Income 2016: $965,7562016Revenue 2017: $16,415,245Expenses 2017: $15,843,524Net Income 2017: $571,7212017Revenue 2018: $16,299,457Expenses 2018: $15,852,555Net Income 2018: $446,9022018Revenue 2019: $16,563,434Expenses 2019: $16,397,251Net Income 2019: $166,1832019Revenue 2020: $16,120,959Expenses 2020: $15,951,824Net Income 2020: $169,1352020Revenue 2021: $15,687,230Expenses 2021: $15,269,216Net Income 2021: $418,0142021Revenue 2022: $17,820,579Expenses 2022: $16,191,439Net Income 2022: $1,629,1402022Revenue 2023: $17,385,003Expenses 2023: $16,992,393Net Income 2023: $392,6102023Revenue 2024: $18,983,075Expenses 2024: $18,383,751Net Income 2024: $599,3242024

Highlighted filing

2014

Revenue$16,297,439
Expenses$16,061,137
Net Income$236,302
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 15, 2015
Return Version
2013v4.0
Gross Receipts
$16,297,439
Mission and Program Overview

Mission

Maranatha high school is a christ-centered, evangelical college preparatory school that celebrates the whole student by equipping hearts and minds to reflect god's glory through academics, as well as the arts, athletics, and service. We are a christian college-preparatory school of the highest caliber that develops and supports students as they seek and achieve excellence in their diverse interests and passions.

To provide christian centric education at the post secondary (high school) level.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$28,478,414$28,913,079▲ $434,665
Savings and Temporary Cash Investments$5,108,277$4,804,905▼ $303,372
Cash and Non-Interest-Bearing Accounts$2,325,396$3,242,432▲ $917,036
Investments in Publicly Traded Securities$132,865$336,387▲ $203,522
Accounts Receivable$63,123$159,738▲ $96,615
Prepaid Expenses and Deferred Charges$45,755$116,101▲ $70,346
Pledges and Grants Receivable$204,545$59,290▼ $145,255
Other Notes and Loans Receivable, Net$273--
Total Assets$36,541,209$37,938,236▲ $1,397,027
Other Assets Total$182,561$306,304▲ $123,743
Liabilities
Tax Exempt Bond Liabilities-$21,000,000-
Mortgage Notes Payable Secured by Investment Property$20,397,000--
Deferred Revenue$4,857,344$4,723,587▼ $133,757
Accounts Payable and Accrued Expenses$768,710$1,305,345▲ $536,635
Other Liabilities$152,752$403,098▲ $250,346
Total Liabilities$26,175,806$27,432,030▲ $1,256,224
Net Assets / Fund Balance
Unrestricted Net Assets$9,803,377$9,659,708▼ $143,669
Temporarily Rstr Net Assets$268,242$550,814▲ $282,572
Permanently Rstr Net Assets$293,784$295,684▲ $1,900
Total Net Assets Fund Balance$10,365,403$10,506,206▲ $140,803
Total Liabilities and Net Assets / Fund Balance$36,541,209$37,938,236▲ $1,397,027

Asset Categories

AssetBook ValueDepreciationBasis
Land$15,960,000-$15,960,000
Buildings$11,086,676$2,650,946$13,737,622
Equipment$1,456,225$2,715,400$4,171,625
Leasehold Improvements$146,453$130,942$277,395
Other Land Buildings$263,725-$263,725

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$766,723$1,900▲ $1,639-$770,262
2012$360,098$402,550▲ $4,075-$766,723
2011$352,368$1,600▲ $6,130-$360,098
2010$340,114$1,750▲ $12,235-$352,368
2009$299,753$27,684▲ $12,677-$340,114
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kristopher DreyerCFO/COOFT$128,111$54,874$182,985
David J GyertsonHeadmasterFT$153,039$19,588$172,627
Michelle PurghartPrincipalFT$144,253$13,093$157,346
John RouseDean of AdmissionsFT$110,682$10,130$120,812
Charles CraneFormer Head of School (retired on 06/30/12-$115,000-$115,000
Charles CraneFormer Head of School (retired on 06--$115,000$115,000

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Tkc Management ServicesFacilities Management-$607,269
My American School LLCConsultant-$598,300
S&l ConstructionConstruction Service-$331,840
Off Duty OfficersFacility/campus Security-$109,768
Revenue and Support

Revenue Composition

Contributions and Grants
$575,720
Program Service Revenue
$15,638,519
Investment Income
$13,854
Other Revenue
$69,346
All Other Contributions
$575,720
Change in Net Assets
$236,302

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,297,439
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-1,766,828
Total Revenue per Audited Statements
$14,530,611
Total Revenue per Form 990
$16,297,439
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,610,172
Salaries, Compensation, and Employee Benefits$6,677,988
Grants and Similar Amounts Paid$1,772,977
Total Fundraising Expense$425,269
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,283,633$565,639$197,043$5,046,315
Grants to Domestic Individuals$1,772,977--$1,772,977
Interest$698,245$178,048$14,444$890,737
All Other Expenses$213,565$494,229$35,704$743,498
Depreciation Depletion$586,287$137,960$11,192$735,439
Current Officers, Directors, Trustees, and Key Employees$141,803$432,250$39,237$613,290
Fees for Services Management$449,116$114,522$9,290$572,928
Occupancy$446,709$113,802$9,232$569,743
Other Employee Benefits$467,524$37,118$23,021$527,663
Office Expenses$131,243$286,818$52,120$470,181
Payroll Taxes$321,610$66,904$16,867$405,381
Other Expenses$368,998$121,090$9,823$368,998
Information Technology$187,695$55,162$3,578$246,435
Insurance$97,683$24,908$2,021$124,612
Fees for Services Legal-$117,400-$117,400
Pension Plan Contributions$83,431$211$1,697$85,339
Advertising$79,180--$79,180
Fees for Services Accounting-$28,500-$28,500
Travel$25,221--$25,221
Total Functional Expenses$12,861,307$2,774,561$425,269$16,061,137

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$16,061,137
Total Expenses per Audited Statements$14,389,808
Expenses per Audited Statements$14,288,160
Expenses Not Reported on Financial Statements$1,772,977
Other Expense Adjustments$1,772,977
Expenses Not Reported on Form 990$101,648
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
-TrusteeGreg Keith Is the Owner of the Keith Corporation, Which Provided Facilities Management to the School.No$543,290
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
457(b) Liability$194,926
Parent Association Accounts$117,091
Other Liabilities$91,081

Bond Issues

BondIssuerIssuedIssue PricePurpose
A20-15634662014-05-21$19,800,000Refinance taxable debt for property purchase

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A-$537,972--

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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

Part vi section b line 13 explanation: the school is in the process of compiling and developing a written whistleblower policy.

Form 990, Part VI, Section A, Line 2

Michael bollenbacher, the board's secretary is the general partner and mark flewelling, one of the trustees, is the limited partner of a partnership that conduct construction projects.

Form 990, Part VI, Section B, Line 11

The form 990 is prepared and reviewed by an independent cpa firm. It is further reviewed by the finance committee prior to signing and filing with the irs. It is available to the board after it is filed.

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

Members of the board of trustees are to sign an annual document identifying and notifying the governing board of any possible conflict of interest.

Form 990, Part VI, Section B, Line 15

The independent board compares compensation to other christian and non-christian schools and college-prep level schools when considering the compensation for the head of school. The independent board approves compensation and this activity is recorded in the minutes. The head of school uses comparability data in setting the compensation of the cfo and documents the decision / process. The compensation is then approved by the independent board.

Form 990, Part VI, Section C, Line 19

Documents are available upon request

Filing and Contact Details

Filer

EIN
95-2401932
Phone
6268174000

Signing Officer

Name
Phil Tellgren
Title
Director of Business Affairs
Phone
6268174000
Signed
2015-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phil Tellgren
Formed
1965
Legal Domicile
CA
Voting Board Members
10
Independent Board Members
9
Employees
219
Volunteers
500

Preparer

Preparer
Bared Dilacar
Phone
6267933600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Loss on pledges receivable -101,648.

Form 990, Part XII, Line 2C

The audit committee provides an appropriate level of oversight and monitoring for the audit of the financial statements. The chairman obtains regular financial updates from the cfo, understands the risks affecting the school and works with the cfo to address those risks. The audit committee is consistently evaluating its process and implementing changes as needed.

Financial Statement Notes

PART V, LINE 4:

The endowment consists of two individual donor-restricted funds established for tuition assistance and a board-designated fund established to attract the children of ministerial, missionary and other full time christian professionals.

PART X, LINE 2:

Generally accepted accounting principles provide accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. Management has considered its tax positions and believes all of the positions taken by the school are more likely than not to be sustained upon examination. The returns are subject to examination by federal and state taxing authorities generally three and four years, respectively, after they are filed.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid -1,772,977.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Loss on pledge receivable 101,648.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 1,772,977.

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IRS990/Desc0MARANATHA HIGH SCHOOL WAS FOUNDED NEARLY 50 YEARS AGO AS A SMALL SCHOOL, BUT HAS GROWN TO ONE OF THE AREA'S LEADING PRIVATE SCHOOL OPTIONS. THE CAMPUS IS LOCATED ON THE FORMER AMBASSADOR COLLEGE CAMPUS JUST OFF THE FREEWAY NEAR OLD TOWN, PASADENA. MARANATHA FILLS A UNIQUE ROLE IN THE ASSORTMENT OF AREA PRIVATE SCHOOLS AS THE ONLY NON-DENOMINATIONAL CHRISTIAN HIGH SCHOOL IN THE SAN GABRIEL VALLEY. THE OVERALL GOAL OF THE SCHOOL IS TO PROVIDE STUDENTS WITH A COLLEGE PREPARATORY EDUCATION IN AN INTENTIONAL CHRIST-HONORING CONTEXT. EXCELLENCE IS PURSUED ACROSS ALL AREAS OF THE SCHOOL RESULTING IN A DIVERSITY OF EXCEPTIONAL OPPORTUNITIES AS WELL NOTABLE ACADEMIC ADVANCES. THE SCHOOL OFFERS 32 ADVANCED PLACEMENT (AP) AND HONORS COURSES AND HAS SEEN CONSISTENT GROWTH IN AP SCORES OVER THE LAST FEW YEARS. THE AP STUDENT PASS RATE AT MARANATHA IS CURRENTLY AT AN IMPRESSIVE 82 PERCENT, APPROXIMATELY 20 PERCENT HIGHER THAN BOTH STATE AND NATIONAL AVERAGES. ADDITIONALLY, 32 PERCENT OF MARANATHA'S AP SUBJECT AREAS RECEIVED A 100 PERCENT PASS RATE LAST YEAR. THE SCHOOL'S ATHLETIC PROGRAM FEATURES 41 TEAMS IN 20 SPORTS, AND HAS ACCOMPLISHED 162 CIF LEAGUE CHAMPIONSHIPS, 23 CIF CHAMPIONSHIPS AND 4 STATE CHAMPIONSHIPS. ABOUT 2/3'S OF THE STUDENT BODY PARTICIPATE IN ATHLETICS EACH YEAR. MARANATHA HAS AN ENROLLMENT OF APPROXIMATELY 680 STUDENTS FROM 67 DIFFERENT ZIP CODES, 70 DIFFERENT MIDDLE SCHOOLS, AND 160 DIFFERENT CHRISTIAN CHURCH BACKGROUNDS.
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IRS990/Form990PartVIISectionAGrp/PersonNm0JOHN H DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm1MICHAEL C BOLLENBACHER
IRS990/Form990PartVIISectionAGrp/PersonNm2MARK T FLEWELLING
IRS990/Form990PartVIISectionAGrp/PersonNm3GEORGE V HAUSLER
IRS990/Form990PartVIISectionAGrp/PersonNm4GRAEME GREG M KEITH JR
IRS990/Form990PartVIISectionAGrp/PersonNm5STEVEN H NAHIGIAN
IRS990/Form990PartVIISectionAGrp/PersonNm6J DAVID SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm7STEVEN CHANG
IRS990/Form990PartVIISectionAGrp/PersonNm8ALAN HALL
IRS990/Form990PartVIISectionAGrp/PersonNm9VICTOR DORADO
IRS990/Form990PartVIISectionAGrp/PersonNm10DAVID J GYERTSON
IRS990/Form990PartVIISectionAGrp/PersonNm11MICHELLE PURGHART
IRS990/Form990PartVIISectionAGrp/PersonNm12KRISTOPHER DREYER
IRS990/Form990PartVIISectionAGrp/PersonNm13JOHN ROUSE
IRS990/Form990PartVIISectionAGrp/PersonNm14CHARLES CRANE
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN/SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10HEADMASTER
IRS990/Form990PartVIISectionAGrp/TitleTxt11PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt12CFO/COO
IRS990/Form990PartVIISectionAGrp/TitleTxt13DEAN OF ADMISSIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt14FORMER HEAD OF SCHOOL (RETIRED ON 06/30/12
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