Civic Intelligence

Carlsbad Educational Foundation

990 • Fiscal year 2016 • EIN 95-3768448

Sep 01, 2015 to Aug 31, 2016 • Filed on May 02, 2017

5631 PALMER WAY Room LCarlsbad, CA 92010

(760) 929-1555

Siviq Scores

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

Liabilities / Assets

76th percentile

0.43x

Higher debt load relative to assets than 76% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

60th percentile

0.18x

Higher debt load relative to revenue than 60% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

43rd percentile

0.1%

Higher net margin than 43% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

61st percentile

$83,304

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

10th percentile

-13%

Faster asset growth than 10% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

30th percentile

-5.5%

Faster revenue growth than 30% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,259,324

Down $183,280 (-13%) from 2015

Net Assets

Up

$720,789

Up $16,625 (+2.4%) from 2015

Liabilities

Down

$538,535

Down $199,905 (-27%) from 2015

Revenue

Down

$2,999,931

Down $176,072 (-5.5%) from 2015

Expenses

Down

$2,995,584

Down $89,104 (-2.9%) from 2015

Net Income

Down

$4,347

Down $86,968 (-95%) from 2015

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $784,221Liabilities 2010: $207,855Net Assets 2010: $576,3662010Assets 2011: $948,781Liabilities 2011: $369,838Net Assets 2011: $578,9432011Assets 2012: $1,084,712Liabilities 2012: $476,236Net Assets 2012: $608,4762012Assets 2013: $982,948Liabilities 2013: $420,207Net Assets 2013: $562,7412013Assets 2014: $1,023,345Liabilities 2014: $405,274Net Assets 2014: $618,0712014Assets 2015: $1,442,604Liabilities 2015: $738,440Net Assets 2015: $704,1642015Assets 2016: $1,259,324Liabilities 2016: $538,535Net Assets 2016: $720,7892016Assets 2017: $1,127,237Liabilities 2017: $570,074Net Assets 2017: $557,1632017Assets 2018: $1,398,596Liabilities 2018: $811,190Net Assets 2018: $587,4062018Assets 2019: $1,706,961Liabilities 2019: $949,486Net Assets 2019: $757,4752019Assets 2020: $2,308,474Liabilities 2020: $662,812Net Assets 2020: $1,645,6622020Assets 2021: $3,397,938Liabilities 2021: $1,582,079Net Assets 2021: $1,815,8592021Assets 2022: $3,814,368Liabilities 2022: $1,762,144Net Assets 2022: $2,052,2242022Assets 2023: $4,575,130Liabilities 2023: $600,045Net Assets 2023: $3,975,0852023Assets 2024: $5,016,582Liabilities 2024: $540,116Net Assets 2024: $4,476,4662024

Highlighted filing

2016

Assets$1,259,324
Liabilities$538,535
Net Assets$720,789

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,337,4752010Expenses 2011: $2,176,3092011Expenses 2012: $2,350,6672012Expenses 2013: $2,568,1142013Revenue 2014: $2,664,266Expenses 2014: $2,608,936Net Income 2014: $55,3302014Revenue 2015: $3,176,003Expenses 2015: $3,084,688Net Income 2015: $91,3152015Revenue 2016: $2,999,931Expenses 2016: $2,995,584Net Income 2016: $4,3472016Revenue 2017: $3,191,113Expenses 2017: $3,359,481Net Income 2017: -$168,3682017Revenue 2018: $3,791,069Expenses 2018: $3,768,985Net Income 2018: $22,0842018Revenue 2019: $3,950,561Expenses 2019: $3,788,765Net Income 2019: $161,7962019Revenue 2020: $3,537,535Expenses 2020: $2,652,842Net Income 2020: $884,6932020Revenue 2021: $3,750,610Expenses 2021: $3,622,729Net Income 2021: $127,8812021Revenue 2022: $4,615,053Expenses 2022: $4,290,296Net Income 2022: $324,7572022Revenue 2023: $5,586,966Expenses 2023: $5,076,832Net Income 2023: $510,1342023Revenue 2024: $6,251,978Expenses 2024: $5,814,880Net Income 2024: $437,0982024

Highlighted filing

2016

Revenue$2,999,931
Expenses$2,995,584
Net Income$4,347
Jump To
Filing Snapshot
Filing Period
Sep 1, 2015 to Aug 31, 2016
Signed
May 2, 2017
Return Version
2015v3.0
Gross Receipts
$3,040,275
Mission and Program Overview

Mission

To provide increased educational opportunities for all students in the carlsbad unified school district by developing and funding impactful programs

To provide increased educational opportunites for all students in the carlsbad unified school district by developing and funding impactful programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$996,196$562,651▼ $433,545
Cash and Non-Interest-Bearing Accounts$168,353$289,962▲ $121,609
Investments in Publicly Traded Securities$176,506$214,092▲ $37,586
Accounts Receivable$31,891$88,107▲ $56,216
Land, Buildings, and Equipment, Net$35,264$68,898▲ $33,634
Prepaid Expenses and Deferred Charges$34,394$35,614▲ $1,220
Total Assets$1,442,604$1,259,324▼ $183,280
Liabilities
Grants Payable$513,409$283,914▼ $229,495
Accounts Payable and Accrued Expenses$166,033$200,971▲ $34,938
Deferred Revenue$58,998$53,650▼ $5,348
Total Liabilities$738,440$538,535▼ $199,905
Net Assets / Fund Balance
Unrestricted Net Assets$422,153$377,563▼ $44,590
Temporarily Rstr Net Assets$282,011$343,226▲ $61,215
Total Net Assets Fund Balance$704,164$720,789▲ $16,625
Total Liabilities and Net Assets / Fund Balance$1,442,604$1,259,324▼ $183,280

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$57,815$47,867$105,682
Other Land Buildings$11,083$15,857$26,940
Leasehold Improvements-$13,531$13,531
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michelle GinnCEOFT$78,304$5,000$83,304

Board Members and Trustees

NameTitle
Pat HurleyPast Chair
Emilie HershPresident
J Scott RunnerVice President
Beth SchroderDirector
Brad LinebergerDirector
Carol Van VoorenDirector
Davie IrvineDirector
Debbie SwiatkowskiDirector
Gary KawanoDirector
Gary MorrisonDirector
Jane HartmanDirector
Jr PhillipsDirector
Kristina RayDirector
Lisa BehunDirector
REBECCA 'BECKY' MOOREDirector
Rosie MarksDirector
Sharon SteeleDirector
Debbie MeyerSecretary
Bart BlechschmidtTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$453,738
Program Service Revenue
$2,384,180
Investment Income
$12,426
Other Revenue
$149,587
All Other Contributions
$347,944
Change in Net Assets
$4,347

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,999,931
Revenue Not Reported on Form 990
$12,278
Total Revenue per Audited Statements
$3,012,209
Total Revenue per Form 990
$2,999,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,828,748
Other Expenses$1,166,836
Total Fundraising Expense$179,097
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,248,970$87,137$116,184$1,452,291
Other Employee Benefits$134,194$9,362$12,483$156,039
Occupancy$124,430$8,604$11,575$144,609
Payroll Taxes$122,218$8,527$11,369$142,114
Other Expenses$83,469--$83,469
Current Officers, Directors, Trustees, and Key Employees$67,341$4,699$6,264$78,304
Insurance$63,394$4,423$5,897$73,714
All Other Expenses$33,012$2,382$3,071$38,465
Fees for Services Other$27,282$1,903$2,538$31,723
Fees for Services Management$16,572$1,156$1,542$19,270
Advertising$16,471$1,149$1,532$19,152
Depreciation Depletion$14,922$1,041$1,388$17,351
Fees for Services Accounting$13,881$969$1,291$16,141
Information Technology$13,581$947$1,263$15,791
Conferences and Meetings$10,913$761$1,015$12,689
Travel$9,936$693$924$11,553
Office Expenses$8,180$570$761$9,511
Total Functional Expenses$2,682,164$134,323$179,097$2,995,584

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,995,584
Total Expenses per Audited Statements$2,995,584
Total Expenses per Form 990$2,995,584
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$189,931
Fundraising Direct Expenses$40,344
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$90,949$90,949$30,413$60,536
Celebrate Carlsbad$30,876$30,876$721$30,155
Total Events$189,931$189,931$40,344$149,587
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
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
No
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, Section B, Line 11A

Copies of from 990 are provided to all board members, by email, who are given five days to respond with comments. The finance committee reviews form 990 in detail prior to filing

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

At the boards annual retreat, officers and directors are required to review the organizations conflict of interest policy, and submit an annual prescribed form attesting to their compliance with the policy.

Form 990, Part VI, Section B, Line 15A

The process for determining compensation of the ceo includes a review and approval by the board of directors.

Form 990, Part VI, Section C, Line 19

Copies of form 990, the exempt appliciation, conflict of interest policy, and financial statements are available upon written request to the organizations office.

Filing and Contact Details

Filer

Filer Name
Carlsbad Educational Foundation
EIN
95-3768448
Phone
7609291555
Address
5631 PALMER WAY Room L, CARLSBAD, CA 92010

Signing Officer

Name
Michelle Ginn
Title
CEO
Phone
7609291555
Signed
2017-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michelle Ginn
Formed
1982
Legal Domicile
CA
Voting Board Members
19
Independent Board Members
19
Employees
136
Volunteers
75

Preparer

Firm
Sonnenberg & Co CPAs
Address
5190 Governor Dr, San Diego, CA 92122
Preparer
Leonard C Sonnenberg
Phone
8584575252
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19CEO
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IRS990/InformationTechnologyGrp/ProgramServicesAmt013581
IRS990/InformationTechnologyGrp/TotalAmt015791
IRS990/InsuranceGrp/FundraisingAmt05897
IRS990/InsuranceGrp/ManagementAndGeneralAmt04423
IRS990/InsuranceGrp/ProgramServicesAmt063394
IRS990/InsuranceGrp/TotalAmt073714
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt012426
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IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROVIDE INCREASED EDUCATIONAL OPPORTUNITES FOR ALL STUDENTS IN THE CARLSBAD UNIFIED SCHOOL DISTRICT BY DEVELOPING AND FUNDING IMPACTFUL PROGRAMS.
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IRS990/OtherExpensesGrp/Desc1CREDIT CARD DISCOUNTS
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IRS990/OtherExpensesGrp/Desc3STUDENT ENRICHMENT PROGRAMS
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01248970
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IRS990/PYProgramServiceRevenueAmt02327394
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02384180
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0996196
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0562651
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0710205
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0428758
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0358003
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02424449
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt012426
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01278
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01258
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01865
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt019844
IRS990ScheduleA/InvestmentIncomeCYPct00.00000

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.02$0.54$4.48$6.25$5.81$0.44
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.58$0.60$3.98$5.59$5.08$0.51
2022Detailed filing. Detailed filing data is available for this year.$3.81$1.76$2.05$4.62$4.29$0.32
2021Detailed filing. Detailed filing data is available for this year.$3.40$1.58$1.82$3.75$3.62$0.13
2020Detailed filing. Detailed filing data is available for this year.$2.31$0.66$1.65$3.54$2.65$0.88
2019Detailed filing. Detailed filing data is available for this year.$1.71$0.95$0.76$3.95$3.79$0.16
2018Summary only. Only limited summary data is available for this year.$1.40$0.81$0.59$3.79$3.77$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.13$0.57$0.56$3.19$3.36$0.17
2016Detailed filing. Detailed filing data is available for this year.$1.26$0.54$0.72$3.00$3.00$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.44$0.74$0.70$3.18$3.08$0.09
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.41$0.62$2.66$2.61$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.42$0.56$2.57
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.48$0.61$2.35
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.37$0.58$2.18
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$0.21$0.58$2.34