Civic Intelligence

Options in Education Foundationinc

EIN 20-4996801 • 501(c)3 • Noblesville, IN

Profile

To support educational institutions, options charter schools, noblesville and westfield.

18077 River Rd Suite 106Noblesville, IN 46062

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

78th percentile

0.48x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

96th percentile

6.72x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

77th percentile

25%

Higher net margin than 77% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

33rd percentile

-0.2%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

7th percentile

-37%

Faster revenue growth than 7% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$7,103,688

Down $124,182 (-1.7%) from 2023

Liabilities

Down

$3,286,976

Down $154,416 (-4.5%) from 2023

Net Assets

Up

$3,816,712

Up $30,234 (+0.8%) from 2023

Operations
Liabilities / Revenue96th percentileNet Margin77th percentile

Revenue

Down

$392,249

Down $119,838 (-23%) from 2023

Expenses

Down

$362,015

Down $21,760 (-5.7%) from 2023

Net Income

Down

$30,234

Down $98,078 (-76%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth33rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $5,530Liabilities 2011: $02011Assets 2012: $6,968Liabilities 2012: $02012Assets 2013: $8,219Liabilities 2013: $02013Assets 2014: $15,650Liabilities 2014: $02014Assets 2015: $18,838Net Assets 2015: $18,8382015Assets 2016: $37,812Net Assets 2016: $37,8122016Assets 2017: $31,315Net Assets 2017: $31,3152017Assets 2018: $57,645Net Assets 2018: $57,6452018Assets 2019: $48,471Net Assets 2019: $48,4712019Assets 2020: $1,362,162Liabilities 2020: $0Net Assets 2020: $1,362,1622020Assets 2021: $6,962,499Liabilities 2021: $3,680,525Net Assets 2021: $3,281,9742021Assets 2022: $7,243,218Liabilities 2022: $3,586,010Net Assets 2022: $3,657,2082022Assets 2023: $7,227,870Liabilities 2023: $3,441,392Net Assets 2023: $3,786,4782023Assets 2024: $7,103,688Liabilities 2024: $3,286,976Net Assets 2024: $3,816,7122024

Highlighted filing

2024

Assets$7,103,688
Liabilities$3,286,976
Net Assets$3,816,712
Open 2024 Filing

Operations Trend

Revenue Growth7th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $51,295Expenses 2011: $54,176Net Income 2011: -$2,8812011Revenue 2012: $70,144Expenses 2012: $68,707Net Income 2012: $1,4372012Revenue 2013: $18,268Expenses 2013: $17,018Net Income 2013: $1,2502013Revenue 2014: $40,851Expenses 2014: $33,420Net Income 2014: $7,4312014Revenue 2015: $62,834Expenses 2015: $59,645Net Income 2015: $3,1892015Revenue 2016: $65,480Expenses 2016: $46,507Net Income 2016: $18,9732016Revenue 2017: $54,586Expenses 2017: $61,083Net Income 2017: -$6,4972017Revenue 2018: $94,862Expenses 2018: $68,532Net Income 2018: $26,3302018Revenue 2019: $27,031Expenses 2019: $36,202Net Income 2019: -$9,1712019Revenue 2020: $1,340,337Expenses 2020: $26,646Net Income 2020: $1,313,6912020Revenue 2021: $2,119,902Expenses 2021: $59,180Net Income 2021: $2,060,7222021Revenue 2022: $810,817Expenses 2022: $435,583Net Income 2022: $375,2342022Revenue 2023: $512,087Expenses 2023: $383,775Net Income 2023: $128,3122023Revenue 2024: $392,249Expenses 2024: $362,015Net Income 2024: $30,2342024

Highlighted filing

2024

Revenue$392,249
Expenses$362,015
Net Income$30,234
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,103,688
Liabilities
$3,286,976
Net assets
$3,816,712
Revenue
$392,249
Expenses
$362,015
Net income
$30,234
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.10$3.29$3.82$0.39$0.36$0.03
2023Detailed filing. Detailed filing data is available for this year.$7.23$3.44$3.79$0.51$0.38$0.13
2022Detailed filing. Detailed filing data is available for this year.$7.24$3.59$3.66$0.81$0.44$0.38
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.96$3.68$3.28$2.12$0.06$2.06
2020Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.36$1.34$0.03$1.31
2019Detailed filing. Detailed filing data is available for this year.$0.05$0.05$0.03$0.04$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.06$0.06$0.09$0.07$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.03$0.03$0.05$0.06$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.04$0.04$0.07$0.05$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.02$0.02$0.06$0.06$0.00
2014Summary only. Only limited summary data is available for this year.$0.02$0.00$0.04$0.03$0.01
2013Summary only. Only limited summary data is available for this year.$0.01$0.00$0.02$0.02$0.00
2012Summary only. Only limited summary data is available for this year.$0.01$0.00$0.07$0.07$0.00
2011Summary only. Only limited summary data is available for this year.$0.01$0.00$0.05$0.05$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 5, 2024
Return Version
2023v6.0
Gross Receipts
$392,249
Mission and Program Overview

Mission

To support educational institutions, options charter schools, noblesville and carmel/westfield.

To support educational institution, options schools indiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,553,267$6,428,514▼ $124,753
Cash and Non-Interest-Bearing Accounts$138,941$209,345▲ $70,404
Prepaid Expenses and Deferred Charges$9,384$9,384→ $0
Intangible Assets$6,307$5,958▼ $349
Total Assets$7,227,870$7,103,688▼ $124,182
Other Assets Total$519,971$450,487▼ $69,484
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,420,450$3,278,800▼ $141,650
Accounts Payable and Accrued Expenses$17,742$4,976▼ $12,766
Other Liabilities$3,200$3,200→ $0
Total Liabilities$3,441,392$3,286,976▼ $154,416
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,786,478$3,816,712▲ $30,234
Total Net Assets Fund Balance$3,786,478$3,816,712▲ $30,234
Total Liabilities and Net Assets / Fund Balance$7,227,870$7,103,688▼ $124,182

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,825,912$713,121$5,539,033
Land$1,313,090-$1,313,090
Equipment$144,773$52,704$197,477
Other Land Buildings$144,739$12,623$157,362
Other Assets Org$450,487--
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
Travis CarmeanBoard Chair
Patricia EllisBoard Vice C
Jack ColwellCFO
Jake BrandauFndtn Vice P
Mike GustinFoundation P
Leanne FowlerMember
Sarah GuffeySecretary
Laura AriveTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$42,499
Program Service Revenue
$0
Investment Income
$1,750
Other Revenue
$348,000
All Other Contributions
$42,499
Change in Net Assets
$30,234
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$362,015
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$165,553-$165,553
Interest-$111,561-$111,561
Other Expenses$36,837$33,999-$33,999
Office Expenses$4,186$51-$4,237
Travel$603$87-$690
Fees for Services Other$171$134-$305
Total Functional Expenses$41,797$320,218$0$362,015
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
Security Deposit$3,200
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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, Page 6, Part VI, Line 11B

“Review by cfo, then by full board at meeting.”

Form 990, Page 6, Part VI, Line 12C

“Members review the policy and conflicts annually and sign a form stating possible conflicts.”

Form 990, Page 6, Part VI, Line 15A

“N/a. Foundation does not have any staff or pay any management personnel.”

Form 990, Page 6, Part VI, Line 15B

“N/a. Foundation does not have any staff or pay any management personnel.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Options in Education Foundationinc
EIN
20-4996801
Phone
3177738659
Address
18077 RIVER RD SUITE 106, NOBLESVILLE, IN 46062

Signing Officer

Name
Jack Colwell
Title
CFO
Phone
3177738659
Signed
2024-05-05

Organization Details

Principal Officer
Jack Colwell
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Charles Madden Pc
Address
850 FORT WAYNE AVE, INDIANAPOLIS, IN 46204
Preparer
Daniel Marsh
Phone
3172660480
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“PY AUDIT CHANGE 0”

Raw XML Appendix374 raw XML fields

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

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt3CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD VICE C
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IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0144773
IRS990ScheduleD/EquipmentGrp/DepreciationAmt052704
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0197477
IRS990ScheduleD/LandGrp/BookValueAmt01313090
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01313090
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0450487
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INTEREST RATE SWAP
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0144739
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt012623
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0157362
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03200
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06428514
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0450487
IRS990ScheduleD/TotalLiabilityAmt03200
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEW BY CFO, THEN BY FULL BOARD AT MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS REVIEW THE POLICY AND CONFLICTS ANNUALLY AND SIGN A FORM STATING POSSIBLE CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2N/A. FOUNDATION DOES NOT HAVE ANY STAFF OR PAY ANY MANAGEMENT PERSONNEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3N/A. FOUNDATION DOES NOT HAVE ANY STAFF OR PAY ANY MANAGEMENT PERSONNEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PY AUDIT CHANGE 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0OPTIONS CHARTER SCHOOLS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0352157301
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt02
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt018077 RIVER RD SUITE 106
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NOBLESVILLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd046062
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0348000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0OPTIONS CHARTER SCHOOLS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0A
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07227870
IRS990/TotalAssetsEOYAmt07103688
IRS990/TotalAssetsGrp/BOYAmt07227870
IRS990/TotalAssetsGrp/EOYAmt07103688
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt042499
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0320218
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt041797
IRS990/TotalFunctionalExpensesGrp/TotalAmt0362015
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03441392
IRS990/TotalLiabilitiesEOYAmt03286976
IRS990/TotalLiabilitiesGrp/BOYAmt03441392
IRS990/TotalLiabilitiesGrp/EOYAmt03286976
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03786478
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03816712
IRS990/TotalProgramServiceExpensesAmt041797
IRS990/TotalRevenueGrp/ExclusionAmt0349750
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0392249
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07227870
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07103688
IRS990/TravelGrp/ManagementAndGeneralAmt087
IRS990/TravelGrp/ProgramServicesAmt0603
IRS990/TravelGrp/TotalAmt0690
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt018077 RIVER ROAD STE 106
IRS990/USAddress/CityNm0NOBLESVILLE
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046062
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JACK COLWELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum03177738659
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OPTIONS IN EDUCATION FOUNDATIONINC
ReturnHeader/Filer/BusinessNameControlTxt0OPTI
ReturnHeader/Filer/EIN0204996801
ReturnHeader/Filer/PhoneNum03177738659
ReturnHeader/Filer/USAddress/AddressLine1Txt018077 RIVER RD SUITE 106
ReturnHeader/Filer/USAddress/CityNm0NOBLESVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046062
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0200503296
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHARLES MADDEN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0850 FORT WAYNE AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046204
ReturnHeader/PreparerPersonGrp/PhoneNum03172660480
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-06
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANIEL MARSH
ReturnHeader/ReturnTs02025-05-06T08:50:01-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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