2024-05-09T18:31:41-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 2210 EAST ROUTE 66 GLENDORA CA 91740 990 2022-07-01 454005918 EDNOVATE INC EDNO 2134540599 350 S FIGUEROA STREET 250 LOS ANGELES CA 90071 KYLE GOSS CFO 2134540599 2024-05-09 1 KYLE GOSS 999009999 0 DERRICK DEBRUYNE P00591016 6268577300 2024-04-30 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KYLE GOSS 350 S FIGUEROA STREET 250 LOS ANGELES CA 90071 50743071 0 X HTTPS://WWW.EDNOVATE.ORG/ X 2011 CA EDNOVATE, INC. OPERATES SIX HIGH QUALITY CALIFORNIA PUBLIC CHARTER HIGH SCHOOLS. 8 8 324 9 0 0 49991897 50689554 0 0 45652 53217 172011 300 50209560 50743071 0 0 0 0 20132274 23896245 0 0 195132 22690620 23923882 42822894 47820127 7386666 2922944 39618009 87955507 14795046 60209600 24822963 27745907 THE MISSION OF EDNOVATE IS FOR ITS STUDENTS TO USE THEIR COLLEGE DEGREES AND CAREERS TO MAKE A POSITIVE MULTI-GENERATIONAL CHANGE, WITH A GOAL OF 100% OF THE STUDENTS BEING ACCEPTED INTO A 4-YEAR UNIVERISTY WITH A 90% PERSISTENCE RATE AFTER THEIR FRESHMAN YEAR OF COLLEGE. 0 0 41223797 EDNOVATE, INC. SERVED APPROXIMATELY 2300 STUDENTS & OFFERED 180 INSTRUCTIONAL DAYS IN THE 2022-2023 FISCAL YEAR. 41223797 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 151 0 1 324 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 CA X X KYLE GOSS 2134540599 350 S FIGUEROA ST SUITE 250 LOS ANGELES CA 90071 OLIVER SICAT CHIEF EXECUTIVE OFFICER 40.00 X 276900 0 22846 OLUMIDE MACAULAY CHIEF OF SCHOOLS 40.00 X 217770 0 15036 KATHERINE HART CHIEF OPERATING OFFICER 40.00 X 203591 0 20503 KARA MAGUIRE CHIEF OF STAFF 40.00 X 197514 0 12994 ROSA ALANIS PRINCIPAL - ESPERANZA 40.00 X 176785 0 25929 EVELYN BALDERAS-CASTRO PRINCIPAL - LEGACY 40.00 X 158633 0 9842 KYLE GOSS CHIEF FINANCIAL OFFICER 40.00 X 149308 0 4749 ALEXANDRA HOUSTON HEAD OF NURSING OPERATIONS 40.00 X 147261 0 4909 RACHAEL DEROGATIS PRINCIPAL - HYBRID 40.00 X 146613 0 34891 ALLYSON WRIGHT PRINCIPAL - SOUTH LA COLLEGE PREP 40.00 X 146113 0 20661 PAULINE FISCHER CHAIR 1.00 X X 0 0 0 ELLIOT SAINER VICE CHAIR 1.00 X X 0 0 0 MARCIA AARON MEMBER 1.00 X 0 0 0 ROBIN ROMANS MEMBER 1.00 X 0 0 0 KYLE SALYER MEMBER 1.00 X 0 0 0 ANA MARTINEZ SHROPSHIRE MEMBER 1.00 X 0 0 0 KATE HIRSH MEMBER 1.00 X 0 0 0 TAMMY ANDERSON MEMBER 1.00 X 0 0 0 MICHAEL PORTER MEMBER 1.00 X 0 0 0 1820488 0 172360 10 0 1 0 VCCM VERDUGO CARPET CLEANINGS AND MAINTE 11550 GOLDEN ST ADELANTO CA 92301 MAINTENANCE AND CLEANING 601590 GEORGE ALFARO 3073 LAMPLIGHTER ST SIMI VALLEY CA 93065 MAINTENANCE AND REPAIRS 453585 EFFECTUAL EDUCATIONAL CONSULTING SERVICE 22756 SWEET MEADOW MISSION VIEJO CA 92692 CONSULTING 149682 6 49175584 1513970 50689554 53217 53217 OTHER REVENUE 900099 300 300 300 50743071 0 0 53517 X 1240860 1104365 124085 12410 19049902 16377360 2546422 126120 378764 325467 50808 2489 1871886 1611002 248299 12585 1354833 1167115 178486 9232 6440830 5394566 1046264 400120 400120 1462932 918973 543959 10305849 9968488 320769 16592 252491 197811 54680 92616 92616 258795 251583 6857 355 215632 215632 OTHER EXPENSES 2496283 2006220 474714 15349 STUDENT NUTRITION 1008510 911023 97487 INSTRUCTIONAL MATERIALS 989824 989824 47820127 41223797 6401198 195132 10591932 15920656 14009299 11424000 7208183 4375000 4375000 631714 1076463 3756165 1464404 1654939 2291761 5611700 48402869 39618009 87955507 5116316 2096102 2664880 8614625 4589790 3680408 2424060 45818465 14795046 60209600 X 23916451 27489176 906512 256731 24822963 27745907 39618009 87955507 2922944 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1721657 521992 1199665 1764793 942412 822381 269715 269715 2291761 CAPITAL CONTRIBUTION 5611700 RIGHT OF USE ASSET - OPERATING 42734815 DEPOSITS 56354 48402869 OPERATING LEASE LIABILITY 45818465 45818465 X PART X, LINE 2: THE SCHOOL IS A NONPROFIT PUBLIC BENEFIT CORPORATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). IT IS ALSO EXEMPT FROM STATE FRANCHISE AND INCOME TAXES UNDER SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAVE BEEN REFLECTED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. THE SCHOOL 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. MANAGEMENT BELIEVES THAT ALL TAX POSITIONS TAKEN TO DATE ARE HIGHLY CERTAIN, AND, ACCORDINGLY, NO ACCOUNTING ADJUSTMENT HAS BEEN MADE TO THE CONSOLIDATED FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL MAKES THE NONDISCRIMINATORY POLICY AVAILABLE TO THE GENERAL PUBLIC DURING REGISTRATION, A COPY MAY BE RECEIVED FROM THE FRONT OFFICE. SCHEDULE E, PART I, LINE 6 SCHOOL RECEIVES A PER ADA FEE FROM THE CALIFORNIA DEPARTMENT OF EDUCATION FOR EVERY PUPIL ATTENDING THE SCHOOL. ADDITIONALLY, THE SCHOOL IS ELIGIBLE FOR LOCAL, STATE, AND FEDERAL PROGRAMS. X X X X 0 0 0 0 0 0 0 0 0 OLIVER SICAT CHIEF EXECUTIVE OFFICER 276900 0 0 0 0 0 8307 0 14539 0 299746 0 0 0 OLUMIDE MACAULAY CHIEF OF SCHOOLS 217770 0 0 0 0 0 1200 0 13836 0 232806 0 0 0 KATHERINE HART CHIEF OPERATING OFFICER 203591 0 0 0 0 0 6108 0 14395 0 224094 0 0 0 KARA MAGUIRE CHIEF OF STAFF 197514 0 0 0 0 0 5925 0 7069 0 210508 0 0 0 ROSA ALANIS PRINCIPAL - ESPERANZA 176785 0 0 0 0 0 5304 0 20625 0 202714 0 0 0 EVELYN BALDERAS-CASTRO PRINCIPAL - LEGACY 158633 0 0 0 0 0 4759 0 5083 0 168475 0 0 0 KYLE GOSS CHIEF FINANCIAL OFFICER 149308 0 0 0 0 0 4479 0 270 0 154057 0 0 0 ALEXANDRA HOUSTON HEAD OF NURSING OPERATIONS 147261 0 0 0 0 0 4418 0 491 0 152170 0 0 0 RACHAEL DEROGATIS PRINCIPAL - HYBRID 146613 0 0 0 0 0 26649 0 8242 0 181504 0 0 0 ALLYSON WRIGHT PRINCIPAL - SOUTH LA COLLEGE PREP 146113 0 0 0 0 0 4383 0 16278 0 166774 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S OUTSIDE PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE A DRAFT OF THE RETURN IS AVAILABLE, IT IS REVIEWED BY MANAGEMENT WITH ANY CHANGES OR REVISIONS INCORPORATED INTO THE FILING. THE REVISED RETURN IS PROVIDED TO THE BOARD FOR COMMENT BEFORE SUBMITTING TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C MONITORING IS PERFORMED REGULARLY BY THE OFFICERS TO IDENTIFY POTENTIAL CONFLICTS OF INTEREST. ANY QUESTION OF A CONFLICT IS ADDRESSED WITH THE INTERESTED PERSON, WHO IS REQUIRED TO DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST AND BE AFFORDED THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD AND EXECUTIVE DIRECTOR. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE APPROPRIATE ACTION IS TAKEN, INCLUDING LIMITATIONS TO THE INDIVIDUAL'S INFLUENCE ON RELATED BUSINESS MATTERS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S PAY IS DETERMINED BASED ON DATA PROVIDED BY EXTERNAL CHARTER MANAGEMENT ORGANIZATIONS AND THROUGH COMPARISON STUDIES OF OTHER CHARTER SCHOOLS. THE BOARD MUST VOTE TO APPROVE THE EXECUTIVE DIRECTOR'S COMPENSATION AS A DIRECT ACTION. THE OFFICERS AND KEY EMPLOYEES' PAY IS DETERMINED BASED ON DATA PROVIDED BY EXTERNAL CHARTER MANAGEMENT ORGANIZATIONS AND THROUGH COMPARISON STUDIES OF OTHER CHARTER SCHOOLS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE REQUIRED DOCUMENTS ARE AVAILABLE AT THE BUSINESS OFFICE DURING NORMAL BUSINESS HOURS UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 5,394,566. MANAGEMENT AND GENERAL EXPENSES 1,046,264. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,440,830. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. PMC SUPPORT CORPORATION 350 S FIGUEROA ST SUITE 250 LOS ANGELES CA 90071 383989912 EDUCATIONAL FACILITIES CA 501(C)(3) LINE 12A, I EDNOVATE INC 1 0 0 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 PMC SUPPORT CORPORATION K 3927895 ACTUAL AMOUNT PMC SUPPORT CORPORATION Q 43187 ACTUAL AMOUNT PMC SUPPORT CORPORATION D 4375000 ACTUAL AMOUNT PMC SUPPORT CORPORATION B 5611700 ACTUAL AMOUNT PMC SUPPORT CORPORATION P 25587 ACTUAL AMOUNT