Civic Intelligence

Magnolia Educational and Research Foundation

990 • Fiscal year 2018 • EIN 95-4649884

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 16, 2019

250 E 1st St No 1500Los Angeles, CA 90012

(714) 892-5066

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.38x

Higher debt load relative to assets than 62% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

53rd percentile

0.33x

Higher debt load relative to revenue than 53% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

69th percentile

12%

Higher net margin than 69% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

49th percentile

$246,125

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

84th percentile

18%

Faster asset growth than 84% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

57th percentile

7.3%

Faster revenue growth than 57% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Assets

Up

$42,695,173

Up $6,408,778 (+18%) from 2017

Net Assets

Up

$26,558,120

Up $5,240,512 (+25%) from 2017

Liabilities

Up

$16,137,053

Up $1,168,266 (+7.8%) from 2017

Revenue

Up

$48,888,566

Up $3,311,284 (+7.3%) from 2017

Expenses

Down

$43,212,386

Down $1,741,596 (-3.9%) from 2017

Net Income

Up

$5,676,180

Up $5,052,880 (+811%) from 2017

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2011: $5,145,788Liabilities 2011: $3,056,265Net Assets 2011: $2,089,5232011Assets 2012: $11,133,287Liabilities 2012: $10,114,934Net Assets 2012: $1,018,3532012Assets 2013: $11,766,972Liabilities 2013: $6,975,265Net Assets 2013: $4,791,7072013Assets 2014: $14,990,231Liabilities 2014: $5,010,058Net Assets 2014: $9,980,1732014Assets 2015: $24,530,921Liabilities 2015: $11,522,400Net Assets 2015: $13,008,5212015Assets 2016: $35,655,570Liabilities 2016: $15,034,166Net Assets 2016: $20,621,4042016Assets 2017: $36,286,395Liabilities 2017: $14,968,787Net Assets 2017: $21,317,6082017Assets 2018: $42,695,173Liabilities 2018: $16,137,053Net Assets 2018: $26,558,1202018Assets 2019: $45,409,410Liabilities 2019: $18,727,297Net Assets 2019: $26,682,1132019Assets 2020: $54,570,182Liabilities 2020: $25,927,332Net Assets 2020: $28,642,8502020Assets 2021: $60,566,625Liabilities 2021: $19,215,172Net Assets 2021: $41,351,4532021Assets 2022: $67,129,472Liabilities 2022: $21,880,275Net Assets 2022: $45,249,1972022Assets 2023: $69,109,481Liabilities 2023: $68,949,347Net Assets 2023: $160,1342023Assets 2024: $76,058,129Liabilities 2024: $72,312,052Net Assets 2024: $3,746,0772024

Highlighted filing

2018

Assets$42,695,173
Liabilities$16,137,053
Net Assets$26,558,120

Operations Trend

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

$100M$50M$0-$50MRevenue 2011: $20,865,544Expenses 2011: $20,557,865Net Income 2011: $307,6792011Expenses 2012: $25,702,5592012Expenses 2013: $26,874,1322013Revenue 2014: $32,298,679Expenses 2014: $26,992,912Net Income 2014: $5,305,7672014Revenue 2015: $34,357,458Expenses 2015: $31,295,065Net Income 2015: $3,062,3932015Revenue 2016: $47,750,213Expenses 2016: $39,770,172Net Income 2016: $7,980,0412016Revenue 2017: $45,577,282Expenses 2017: $44,953,982Net Income 2017: $623,3002017Revenue 2018: $48,888,566Expenses 2018: $43,212,386Net Income 2018: $5,676,1802018Revenue 2019: $47,041,355Expenses 2019: $46,917,362Net Income 2019: $123,9932019Revenue 2020: $51,334,434Expenses 2020: $49,147,443Net Income 2020: $2,186,9912020Revenue 2021: $63,609,344Expenses 2021: $50,824,459Net Income 2021: $12,784,8852021Revenue 2022: $66,230,945Expenses 2022: $62,131,487Net Income 2022: $4,099,4582022Revenue 2023: $31,976,044Expenses 2023: $76,945,341Net Income 2023: -$44,969,2972023Revenue 2024: $84,399,638Expenses 2024: $78,564,322Net Income 2024: $5,835,3162024

Highlighted filing

2018

Revenue$48,888,566
Expenses$43,212,386
Net Income$5,676,180
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 16, 2019
Return Version
2017v2.3
Gross Receipts
$48,888,566
Mission and Program Overview

Mission

Our mission is to raise civically responsible scientific thinkers.mps is a network of 10 high-performing public charter schools that serves 3890 students in los angeles,orange,santa clara and san diego counties. The schools are authorized by the los angeles unified school district (4), los angeles county office of education (4), san diego unified school district (1) and the california department of education (1). For more than 15 years, mps has delivered high-quality education emphasizing science, technology, engineering, arts and math. U.s. News and world report and the washington post rank mps science academies among the top schools in the country.

Merf operated eleven magnolia science academy (msa) kindergarten through grade twelve charter schools serving 3,900 students throughout california dedicated to inspiring students to choose career paths in science, technology, engineering, and math (stem), while providing a robust, standards-based education program within a supportive culture of excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,493,305$23,326,988▲ $833,683
Cash and Non-Interest-Bearing Accounts$8,913,831$13,516,040▲ $4,602,209
Accounts Receivable$3,194,412$4,781,620▲ $1,587,208
Prepaid Expenses and Deferred Charges$1,620,157$1,027,408▼ $592,749
Total Assets$36,286,395$42,695,173▲ $6,408,778
Other Assets Total$64,690$43,117▼ $21,573
Liabilities
Unsecured Notes Loans Payable$11,683,796$12,904,668▲ $1,220,872
Accounts Payable and Accrued Expenses$3,212,491$3,232,385▲ $19,894
Deferred Revenue$72,500--
Total Liabilities$14,968,787$16,137,053▲ $1,168,266
Net Assets / Fund Balance
Unrestricted Net Assets$21,317,608$26,558,120▲ $5,240,512
Total Net Assets Fund Balance$21,317,608$26,558,120▲ $5,240,512
Total Liabilities and Net Assets / Fund Balance$36,286,395$42,695,173▲ $6,408,778

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$20,807,073$1,378,653$22,185,726
Other Land Buildings$2,519,714$1,655,692$4,175,406
Leasehold Improvements$201$384,678$384,879
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Caprice YoungCEOFT$239,150$6,975$246,125
Nanie MontijoCFOFT$175,277$31,562$206,839
Suat AcarChief Operating OfficeFT$130,417$33,069$163,486
Erdinc AcarRegional DirectorFT$121,063$31,823$152,886
David E YilmazChief Accountability OfficerFT$121,000$27,717$148,717
Rasul MonoshevIt DirectorFT$108,625$17,383$126,008
Kenya JacksonChief Academic OfficerFT$121,250-$121,250
Alfredo RubalcavaCEOFT$81,667$10,417$92,084

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
21st Century StaffingEmployment11331 EAST 183RD, Cerritos, CA 90703$446,973
Law Offices Of Young Minney & Corr LLPLegal655 UNIVERSITY AVE 150, Sacramento, CA 95825$218,916
Gary LarsonCommunications1725 PIERCE ST SUITE 1, San Francisco, CA 94115$213,125
Educational Facilities GroupRent3700 LATROBE ST, Los Angeles, CA 92660$212,407
Snell & WilmerLegal400 E VAN BUREN, Phoenix, AZ 85004$171,602
Revenue and Support

Revenue Composition

Contributions and Grants
$48,888,566
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$581,004
Change in Net Assets
$5,676,180
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$29,123,826
Other Expenses$14,088,560
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$15,414,178$3,726,528-$19,140,706
Payroll Taxes$4,387,162$1,083,642-$5,470,804
Other Employee Benefits$3,183,143$784,746-$3,967,889
Occupancy-$2,613,954-$2,613,954
Fees for Services Other-$2,068,626-$2,068,626
All Other Expenses$432,413$981,064-$1,413,477
Fees for Services Accounting-$834,976-$834,976
Depreciation Depletion-$767,959-$767,959
Fees for Services Legal-$554,450-$554,450
Current Officers, Directors, Trustees, and Key Employees$369,150$175,277-$544,427
Information Technology-$493,436-$493,436
Interest-$492,468-$492,468
Other Expenses$415,762--$415,762
Insurance-$223,263-$223,263
Office Expenses-$188,796-$188,796
Advertising-$132,614-$132,614
Travel-$98,398-$98,398
Fees for Services Management-$16,296-$16,296
Conferences and Meetings-$7,920-$7,920
Total Functional Expenses$27,967,973$15,244,413$0$43,212,386
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Officers reviewed the return and will share with the board at the next regularly scheduled meeting.

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

All board members, executive staff and principals are required to submit reports that document any possible conflicts of interest using the form 700 as required by our oversight agency.

Form 990, Part VI, Section B, Line 15

The compensation committee which is a subcommittee of the board of directors sets the compensation for the top officials. Key employee compensation is set by the ceo.

Form 990, Part VI, Section C, Line 18

All tax returns are maintained at the corporate office and are available upon request.

Form 990, Part VI, Section C, Line 19

All governing documents are maintained at the corporate office and are available upon request.

Filing and Contact Details

Filer

Filer Name
Magnolia Educational and Research
EIN
95-4649884
Phone
7148925066
Address
250 E 1ST ST NO 1500, LOS ANGELES, CA 90012

Signing Officer

Name
Nanie Montijo
Title
CFO
Phone
7148925066
Signed
2019-04-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nanie Montijo
Formed
2005
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
9
Employees
496
Volunteers
0

Preparer

Firm
Vavrinek Trine Day & Co Llp
Address
10681 FOOTHILL BLVD SUITE 300, RANCHO CUCAMONGA, CA 91730
Preparer
Matthew S Miller
Phone
9094664410
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Merf has adopted financial accounting standards board (fasb) accounting standards codification (asc) topic 740 that clarifies the accounting for uncertainty in tax positions taken or expected to be taken on a tax return and provides that the tax effects from an uncertain tax position can be recognized in the consolidated financial statements only if, based on its merits, the position is more likely than not to be sustained on audit by the taxing authorities. Merf management has determined that all income tax positions are more likely thannot of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required.

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IRS990/Form990PartVIISectionAGrp/PersonNm14DAVID E YILMAZ
IRS990/Form990PartVIISectionAGrp/PersonNm15ERDINC ACAR
IRS990/Form990PartVIISectionAGrp/PersonNm16RASUL MONOSHEV
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt11CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHIEF ACADEMIC OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt13CHIEF OPERATING OFFICE
IRS990/Form990PartVIISectionAGrp/TitleTxt14CHIEF ACCOUNTABILITY OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt15REGIONAL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16IT DIRECTOR
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IRS990/FormationYr02005
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IRS990/MissionDesc0OUR MISSION IS TO RAISE CIVICALLY RESPONSIBLE SCIENTIFIC THINKERS.MPS IS A NETWORK OF 10 HIGH-PERFORMING PUBLIC CHARTER SCHOOLS THAT SERVE OVER 3900 STUDENTS IN LOS ANGELES,ORANGE,SANTA CLARA AND SAN DIEGO COUNTIES. THE SCHOOLS ARE AUTHORIZED BY THE LOS ANGELES UNIFIED SCHOOL DISTRICT (4), LOS ANGELES COUNTY OFFICE OF EDUCATION (4), SAN DIEGO UNIFIED SCHOOL DISTRICT (1) AND THE CALIFORNIA DEPARTMENT OF EDUCATION (1). FOR MORE THAN 15 YEARS, MPS HAS DELIVERED HIGH-QUALITY EDUCATION EMPHASIZING SCIENCE, TECHNOLOGY, ENGINEERING, ARTS AND MATH. U.S. NEWS AND WORLD REPORT AND THE WASHINGTON POST RANK MPS SCIENCE ACADEMIES AMONG THE TOP SCHOOLS IN THE COUNTRY.
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IRS990/OtherExpensesGrp/Desc1STUDENT NUTRITION
IRS990/OtherExpensesGrp/Desc2BOOKS AND OTHER MATERIA
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL DEVELOPMEN
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MERF HAS ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) TOPIC 740 THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN AND PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS ONLY IF, BASED ON ITS MERITS, THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT BY THE TAXING AUTHORITIES. MERF MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THANNOT OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$76.1$72.3$3.75$84.4$78.6$5.84
2023Detailed filing. Detailed filing data is available for this year.$69.1$68.9$0.16$32.0$76.9$45.0
2022Detailed filing. Detailed filing data is available for this year.$67.1$21.9$45.2$66.2$62.1$4.10
2021Detailed filing. Detailed filing data is available for this year.$60.6$19.2$41.4$63.6$50.8$12.8
2020Detailed filing. Detailed filing data is available for this year.$54.6$25.9$28.6$51.3$49.1$2.19
2019Detailed filing. Detailed filing data is available for this year.$45.4$18.7$26.7$47.0$46.9$0.12
2018Detailed filing. Detailed filing data is available for this year.$42.7$16.1$26.6$48.9$43.2$5.68
2017Detailed filing. Detailed filing data is available for this year.$36.3$15.0$21.3$45.6$45.0$0.62
2016Detailed filing. Detailed filing data is available for this year.$35.7$15.0$20.6$47.8$39.8$7.98
2015Detailed filing. Detailed filing data is available for this year.$24.5$11.5$13.0$34.4$31.3$3.06
2014Detailed filing. Detailed filing data is available for this year.$15.0$5.01$9.98$32.3$27.0$5.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$6.98$4.79$26.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$10.1$1.02$25.7
2011Summary only. Only limited summary data is available for this year.$5.15$3.06$2.09$20.9$20.6$0.31