Civic Intelligence

Horizon Science Academy Denison Middle School

990 • Fiscal year 2019 • EIN 20-2003228

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 20, 2020

Organization Profilewww.horizondenison.org
1700 Denison AvenueCleveland, OH 44109

(216) 739-9911

Siviq Scores

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

Liabilities / Assets

99th percentile

2.50x

Higher debt load relative to assets than 99% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

86th percentile

0.98x

Higher debt load relative to revenue than 86% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

71st percentile

14%

Higher net margin than 71% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

58th percentile

$79,064

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

72nd percentile

13%

Faster asset growth than 72% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

76th percentile

22%

Faster revenue growth than 76% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$1,320,407

Up $156,748 (+13%) from 2018

Net Assets

Up

-$1,976,924

Up $482,911 (+20%) from 2018

Liabilities

Down

$3,297,331

Down $326,163 (-9.0%) from 2018

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin71st percentile

Revenue

Up

$3,357,751

Up $596,392 (+22%) from 2018

Expenses

Up

$2,874,839

Up $1,212,188 (+73%) from 2018

Net Income

Down

$482,912

Down $615,796 (-56%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$10M$5.0M$0-$5.0MAssets 2011: $567,497Liabilities 2011: $163,774Net Assets 2011: $403,7232011Assets 2012: $536,880Liabilities 2012: $150,997Net Assets 2012: $385,8832012Assets 2013: $362,910Liabilities 2013: $174,280Net Assets 2013: $188,6292013Assets 2014: $580,641Liabilities 2014: $157,238Net Assets 2014: $423,4032014Assets 2015: $556,824Liabilities 2015: $3,316,311Net Assets 2015: -$2,759,4882015Assets 2016: $580,807Liabilities 2016: $3,548,292Net Assets 2016: -$2,967,4852016Assets 2017: $1,076,163Liabilities 2017: $3,990,420Net Assets 2017: -$2,914,2572017Assets 2018: $1,163,659Liabilities 2018: $3,623,494Net Assets 2018: -$2,459,8352018Assets 2019: $1,320,407Liabilities 2019: $3,297,331Net Assets 2019: -$1,976,9242019Assets 2020: $2,213,209Liabilities 2020: $3,778,864Net Assets 2020: -$1,565,6552020Assets 2021: $2,950,099Liabilities 2021: $3,582,098Net Assets 2021: -$631,9992021Assets 2022: $5,365,303Liabilities 2022: $4,312,558Net Assets 2022: $1,052,7452022Assets 2023: $6,312,765Liabilities 2023: $3,648,945Net Assets 2023: $2,663,8202023

Highlighted filing

2019

Assets$1,320,407
Liabilities$3,297,331
Net Assets-$1,976,924
Open 2019 Filing

Operations Trend

Revenue Growth76th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $2,909,402Expenses 2011: $2,841,219Net Income 2011: $68,1832011Revenue 2012: $3,095,619Expenses 2012: $3,113,461Net Income 2012: -$17,8422012Revenue 2013: $2,878,096Expenses 2013: $3,075,350Net Income 2013: -$197,2542013Revenue 2014: $3,327,083Expenses 2014: $3,092,308Net Income 2014: $234,7752014Revenue 2015: $2,903,433Expenses 2015: $2,922,996Net Income 2015: -$19,5632015Revenue 2016: $2,740,463Expenses 2016: $2,948,460Net Income 2016: -$207,9972016Revenue 2017: $3,201,826Expenses 2017: $3,148,598Net Income 2017: $53,2282017Revenue 2018: $2,761,359Expenses 2018: $1,662,651Net Income 2018: $1,098,7082018Revenue 2019: $3,357,751Expenses 2019: $2,874,839Net Income 2019: $482,9122019Revenue 2020: $3,721,631Expenses 2020: $3,310,362Net Income 2020: $411,2692020Revenue 2021: $3,925,271Expenses 2021: $2,991,615Net Income 2021: $933,6562021Revenue 2022: $4,762,372Expenses 2022: $3,077,628Net Income 2022: $1,684,7442022Revenue 2023: $5,757,160Expenses 2023: $4,146,085Net Income 2023: $1,611,0752023

Highlighted filing

2019

Revenue$3,357,751
Expenses$2,874,839
Net Income$482,912
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 20, 2020
Return Version
2018v3.3
Gross Receipts
$3,357,751
Mission and Program Overview

Mission

Horizon Science Academy Denison Middle School is a public charter school that serving grades K through 8 for children in Cleveland, OH. The school is a college prep school focusing on math, science and technology education.

Horizon Science Academy Denison Middle School is a public charter school serving grades K through 8 for children in Cleveland, OH. The school is a college prep school focusing on math, science and technology education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$1,008,094$993,258▼ $14,836
Cash and Non-Interest-Bearing Accounts$40,640$214,259▲ $173,619
Land, Buildings, and Equipment, Net$110,015$101,139▼ $8,876
Pledges and Grants Receivable$2,889$9,730▲ $6,841
Accounts Receivable$2,021$2,021→ $0
Total Assets$1,163,659$1,320,407▲ $156,748
Liabilities
Other Liabilities$3,099,350$2,524,170▼ $575,180
Deferred Revenue$377,401$593,192▲ $215,791
Accounts Payable and Accrued Expenses$146,744$179,969▲ $33,225
Total Liabilities$3,623,495$3,297,331▼ $326,164
Net Assets / Fund Balance
Unrestricted Net Assets$-2,459,836$-1,976,924▲ $482,912
Total Net Assets Fund Balance$-2,459,836$-1,976,924▲ $482,912
Total Liabilities and Net Assets / Fund Balance$1,163,659$1,320,407▲ $156,748

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$82,992$135,387$218,379
Leasehold Improvements$18,147$62,838$80,985
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Daniel B AkbenSchool PrincipalFT$79,064$79,064

Board Members and Trustees

NameTitle
Yilmaz SozerBoard President
Ali TopcuBoard Member
Donald MalloyBoard Member
Mehmet MalcokBoard Member
Sandra EnglishBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$3,305,264
Program Service Revenue
$52,487
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$482,912

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,357,751
Total Revenue per Audited Statements
$3,357,751
Total Revenue per Form 990
$3,357,751
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,452,329
Salaries, Compensation, and Employee Benefits$1,422,510
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$1,363,099--$1,363,099
Occupancy$502,619--$502,619
Fees for Services Management$146,954$335,775-$482,729
Other Employee Benefits$122,841--$122,841
Other Expenses$114,532--$114,532
Current Officers, Directors, Trustees, and Key Employees-$79,064-$79,064
All Other Expenses$78,378--$78,378
Depreciation Depletion$50,451--$50,451
Fees for Services Other$28,115--$28,115
Payroll Taxes$26,354--$26,354
Insurance$17,189--$17,189
Travel-$11,933-$11,933
Fees for Services Legal$8,097--$8,097
Pension Plan Contributions$-168,848--$-168,848
Total Functional Expenses$2,448,067$426,772$0$2,874,839

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,874,839
Total Expenses per Audited Statements$2,874,839
Total Expenses per Form 990$2,874,839
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$2,436,884
Net Pension Liability$75,971
Net OPEB Liability$11,315
Capital Lease due in one year-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The School is in contract with Concept Schools Inc., an Illinois based not-for-profit organization to provide instructional, administrative and financial management. The Schools Superintendent and Treasurer are appointed and compensated by Concept Schools. Concept Schools also provide a wide range of services such as budgeting and financial oversight, School Management Database, quarterly OAT/OGT Practice tests, curriculum alignment, professional development and evaluation services for teachers, etc. In return of those services, the School transfers 10 of its total revenue to the management company. Financial Reports are presented to the School Board for approval in Board Meetings. All employment and major business decisions are also subject to the School Boards approval.”

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

“Form 990 is prepared by the School Treasurer and a copy is provided to the Board Members for review in the Board Meeting.”

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

“The Conflict of Interest Policy is part of the Schools By-Laws. The School Board consistently reviews and discusses any issues that might be in conflict with the policy in the Board Meetings. All operations of the School is also monitored by the Schools Sponsor and annually audited by the Auditors of State.”

Form 990, Part VI, Section B, Line 15

“All employment decisions and compensations are discussed and approved in the Board Meetings.”

Form 990, Part VI, Section C, Line 19

“The Schools Annual Audit Report is published on Auditors of States web site at http//www.ohioauditor.gov. All governing documents and the Schools Conflict of Interest Policy is available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Horizon Science Academy Denison Middle School
EIN
20-2003228
Phone
2167399911
Address
1700 Denison Avenue, Cleveland, OH 44109

Signing Officer

Name
Ramadan Celep
Title
Treasurer
Phone
3478243380
Signed
2020-04-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bulent Akbenlioglu
Formed
2004
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
49

Preparer

Firm
Gueye and Associates CPA Inc
Address
2246 S HAMILTON RD SUITE 102, COLUMBUS, OH 43232
Preparer
Alioune Gueye
Phone
6143420297
Supplemental Narrative

Additional Explanations

Form 990, Part X, Line 25

“This is the amount of Net Pension Liability calculated according to GASB Statement No. 68 and 75.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net OPEB Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Capital Lease due in one year
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The School receives federal and state grants. Total grants received in FY 2019 was 3,305,264.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The School is in contract with Concept Schools Inc., an Illinois based not-for-profit organization to provide instructional, administrative and financial management. The Schools Superintendent and Treasurer are appointed and compensated by Concept Schools. Concept Schools also provide a wide range of services such as budgeting and financial oversight, School Management Database, quarterly OAT/OGT Practice tests, curriculum alignment, professional development and evaluation services for teachers, etc. In return of those services, the School transfers 10 of its total revenue to the management company. Financial Reports are presented to the School Board for approval in Board Meetings. All employment and major business decisions are also subject to the School Boards approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is prepared by the School Treasurer and a copy is provided to the Board Members for review in the Board Meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Conflict of Interest Policy is part of the Schools By-Laws. The School Board consistently reviews and discusses any issues that might be in conflict with the policy in the Board Meetings. All operations of the School is also monitored by the Schools Sponsor and annually audited by the Auditors of State.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All employment decisions and compensations are discussed and approved in the Board Meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Schools Annual Audit Report is published on Auditors of States web site at http//www.ohioauditor.gov. All governing documents and the Schools Conflict of Interest Policy is available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5This is the amount of Net Pension Liability calculated according to GASB Statement No. 68 and 75.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part X, Line 25
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IRS990/TotalLiabilitiesGrp/BOYAmt03623495
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2459836
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IRS990/WebsiteAddressTxt0www.horizondenison.org
IRS990/WhistleblowerPolicyInd0false
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ReturnHeader/BusinessOfficerGrp/PersonNm0RAMADAN CELEP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03478243380
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Horizon Science Academy Denison Middle School
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ReturnHeader/FilingSecurityInformation/IPTm023:01:07
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GUEYE AND ASSOCIATES CPA INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02246 S HAMILTON RD SUITE 102
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COLUMBUS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
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ReturnHeader/PreparerPersonGrp/PhoneNum06143420297
ReturnHeader/PreparerPersonGrp/PreparationDt02020-04-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALIOUNE GUEYE
ReturnHeader/ReturnTs02020-04-20T07:10:28-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,320,407
Liabilities
$3,297,331
Net assets
-$1,976,924
Revenue
$3,357,751
Expenses
$2,874,839
Net income
$482,912
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$6.31$3.65$2.66$5.76$4.15$1.61
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.37$4.31$1.05$4.76$3.08$1.68
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.95$3.58$0.63$3.93$2.99$0.93
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.21$3.78$1.57$3.72$3.31$0.41
2019Detailed filing. Detailed filing data is available for this year.$1.32$3.30$1.98$3.36$2.87$0.48
2018Summary only. Only limited summary data is available for this year.$1.16$3.62$2.46$2.76$1.66$1.10
2017Summary only. Only limited summary data is available for this year.$1.08$3.99$2.91$3.20$3.15$0.05
2016Summary only. Only limited summary data is available for this year.$0.58$3.55$2.97$2.74$2.95$0.21
2015Summary only. Only limited summary data is available for this year.$0.56$3.32$2.76$2.90$2.92$0.02
2014Summary only. Only limited summary data is available for this year.$0.58$0.16$0.42$3.33$3.09$0.23
2013Summary only. Only limited summary data is available for this year.$0.36$0.17$0.19$2.88$3.08$0.20
2012Summary only. Only limited summary data is available for this year.$0.54$0.15$0.39$3.10$3.11$0.02
2011Summary only. Only limited summary data is available for this year.$0.57$0.16$0.40$2.91$2.84$0.07
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • $1M-$5M nonprofits