Civic Intelligence

Indiana Online Learning Options Inc

EIN 20-5905529 • 501(c)3 • Indianapolis, IN

Profile

To maximize academic achievement for students in grades k-12 throughout the state of indiana who need an alternative to the traditional classroom.

Refreshing map…

6640 Intech Boulevard 250Indianapolis, IN 46278

www.connectionsacademy.com/INDIANA

Siviq Scores

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

Liabilities / Assets

66th percentile

0.43x

Higher debt load relative to assets than 66% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

25th percentile

0.13x

Higher debt load relative to revenue than 25% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

62nd percentile

9.6%

Higher net margin than 62% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

11th percentile

$133,532

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

58th percentile

7.8%

Faster asset growth than 58% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

40th percentile

4.5%

Faster revenue growth than 40% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$15,100,761

Up $2,875,210 (+24%) from 2022

Liabilities

Up

$10,931,834

Up $1,774,125 (+19%) from 2022

Net Assets

Up

$4,168,927

Up $1,101,085 (+36%) from 2022

Operations
Liabilities / Revenue25th percentileNet Margin62nd percentile

Revenue

Down

$51,463,127

Down $184,059 (-0.4%) from 2022

Expenses

Up

$50,362,042

Up $1,750,784 (+3.6%) from 2022

Net Income

Down

$1,101,085

Down $1,934,843 (-64%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth58th percentile

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

$20M$15M$10M$5.0M$0Assets 2012: $4,780,930Liabilities 2012: $4,770,893Net Assets 2012: $10,0372012Assets 2013: $7,689,579Liabilities 2013: $7,613,893Net Assets 2013: $75,6862013Assets 2014: $7,385,521Liabilities 2014: $7,375,564Net Assets 2014: $9,9572014Assets 2015: $7,677,847Liabilities 2015: $7,667,027Net Assets 2015: $10,8202015Assets 2016: $9,601,743Liabilities 2016: $9,590,834Net Assets 2016: $10,9092016Assets 2017: $9,417,966Liabilities 2017: $9,402,517Net Assets 2017: $15,4492017Assets 2018: $12,538,584Liabilities 2018: $12,502,794Net Assets 2018: $35,7902018Assets 2019: $11,317,314Liabilities 2019: $11,288,049Net Assets 2019: $29,2652019Assets 2020: $8,539,900Liabilities 2020: $8,453,945Net Assets 2020: $85,9552020Assets 2021: $10,482,151Liabilities 2021: $10,450,237Net Assets 2021: $31,9142021Assets 2022: $12,225,551Liabilities 2022: $9,157,709Net Assets 2022: $3,067,8422022Assets 2023: $15,100,761Liabilities 2023: $10,931,834Net Assets 2023: $4,168,9272023

Highlighted filing

2023

Assets$15,100,761
Liabilities$10,931,834
Net Assets$4,168,927
Open 2023 Filing

Operations Trend

Revenue Growth40th percentile

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

$60M$40M$20M$0-$20MRevenue 2012: $4,815,338Expenses 2012: $4,805,301Net Income 2012: $10,0372012Revenue 2013: $14,660,703Expenses 2013: $14,587,337Net Income 2013: $73,3662013Revenue 2014: $18,522,725Expenses 2014: $18,588,454Net Income 2014: -$65,7292014Revenue 2015: $21,099,131Expenses 2015: $21,098,268Net Income 2015: $8632015Revenue 2016: $24,363,570Expenses 2016: $24,363,481Net Income 2016: $892016Revenue 2017: $26,273,964Expenses 2017: $26,269,424Net Income 2017: $4,5402017Revenue 2018: $29,975,144Expenses 2018: $29,954,803Net Income 2018: $20,3412018Revenue 2019: $34,341,237Expenses 2019: $34,347,762Net Income 2019: -$6,5252019Revenue 2020: $35,771,655Expenses 2020: $35,714,965Net Income 2020: $56,6902020Revenue 2021: $47,254,530Expenses 2021: $47,308,571Net Income 2021: -$54,0412021Revenue 2022: $51,647,186Expenses 2022: $48,611,258Net Income 2022: $3,035,9282022Revenue 2023: $51,463,127Expenses 2023: $50,362,042Net Income 2023: $1,101,0852023

Highlighted filing

2023

Revenue$51,463,127
Expenses$50,362,042
Net Income$1,101,085
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Summary only. Only limited summary data is available for this year.

Open filing
Assets
$15,100,761
Liabilities
$10,931,834
Net assets
$4,168,927
Revenue
$51,463,127
Expenses
$50,362,042
Net income
$1,101,085
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$15.1$10.9$4.17$51.5$50.4$1.10
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.2$9.16$3.07$51.6$48.6$3.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.5$10.5$0.03$47.3$47.3$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.54$8.45$0.09$35.8$35.7$0.06
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.3$11.3$0.03$34.3$34.3$0.01
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$12.5$0.04$30.0$30.0$0.02
2017Summary only. Only limited summary data is available for this year.$9.42$9.40$0.02$26.3$26.3$0.00
2016Summary only. Only limited summary data is available for this year.$9.60$9.59$0.01$24.4$24.4$0.00
2015Summary only. Only limited summary data is available for this year.$7.68$7.67$0.01$21.1$21.1$0.00
2014Summary only. Only limited summary data is available for this year.$7.39$7.38$0.01$18.5$18.6$0.07
2013Summary only. Only limited summary data is available for this year.$7.69$7.61$0.08$14.7$14.6$0.07
2012Summary only. Only limited summary data is available for this year.$4.78$4.77$0.01$4.82$4.81$0.01
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2019 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 1, 2020
Return Version
2018v3.1
Gross Receipts
$34,341,237
Mission and Program Overview

Mission

To maximize academic achievement for students in grades k-12 throughout the state of indiana who need an alternative to the traditional classroom.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$7,957,200$6,233,510▼ $1,723,690
Pledges and Grants Receivable$4,546,259$5,057,542▲ $511,283
Land, Buildings, and Equipment, Net$21,626$26,262▲ $4,636
Accounts Receivable$12,270$0▼ $12,270
Prepaid Expenses and Deferred Charges$1,229$0▼ $1,229
Total Assets$12,538,584$11,317,314▼ $1,221,270
Liabilities
Other Liabilities$11,489,850$10,410,885▼ $1,078,965
Accounts Payable and Accrued Expenses$1,012,944$877,164▼ $135,780
Total Liabilities$12,502,794$11,288,049▼ $1,214,745
Net Assets / Fund Balance
Unrestricted Net Assets$35,790$29,265▼ $6,525
Total Net Assets Fund Balance$35,790$29,265▼ $6,525
Total Liabilities and Net Assets / Fund Balance$12,538,584$11,317,314▼ $1,221,270

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$25,437$69,507$94,944
Leasehold Improvements$825$3,743$4,568
Compensation and Service Providers
Top Officer Pay11th percentile

Board Members and Trustees

NameTitle
Stacy TaylorPresident
Andrew NorrisBoard Member
Lori Lego 82018-63019Secretary
Richard Ellery 7118-91718Secretary
Ravi ShahTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Connections EducationEducation Management10960 GRANTCHESTER WAY, Columbia, MD 21044$20,051,402
Revenue and Support

Revenue Composition

Contributions and Grants
$34,341,237
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$208,573
Change in Net Assets
$-6,525

Audited Revenue Reconciliation

Revenue per Audited Statements
$34,341,237
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$34,341,237
Total Revenue per Form 990
$34,341,237
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$22,750,514
Salaries, Compensation, and Employee Benefits$11,597,248
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,978,774--$8,978,774
Information Technology$4,010,839--$4,010,839
Other Employee Benefits$1,778,736--$1,778,736
All Other Expenses$583,151$265,935-$849,086
Fees for Services Management$588,150$252,136-$840,286
Other Expenses$977,435$736,248-$736,248
Payroll Taxes$663,601--$663,601
Pension Plan Contributions$176,137--$176,137
Occupancy$158,486--$158,486
Fees for Services Legal-$151,570-$151,570
Travel$25,802--$25,802
Depreciation Depletion$11,358--$11,358
Insurance-$8,400-$8,400
Total Functional Expenses$30,475,163$3,872,599$0$34,347,762

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$34,347,762
Total Expenses per Audited Statements$34,347,762
Total Expenses per Form 990$34,347,762
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Due to Connections Academy of Indiana, LLC$10,410,885
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
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization entered into a professional services agreement with connections academy of indiana, llc. Connections academy of indiana, llc agrees to provide educational services (including but not limited to providing instructional materials, learning plans, recruitment and retention of teachers and administrators, and staff development) and various administrative services (including but not limited to human resource management, accounting functions, billing and collections).”

Form 990, Part VI, Section A, Line 8B

“The school does not have committees with the authority to act of behalf of the governing body.”

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

“A copy of the form 990 is provided electronically to all members of the board for review before filing.”

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

“In connection with any transaction or arrangement that might give rise to a conflict of interest, disclosures must be made before the start of a regularly scheduled board meeting.”

Form 990, Part VI, Section C, Line 19

“A copy of the completed form 990 can be found by going to www.guidestar.org. All documents are available upon request.”

Form 990 Part VI, Line 15A - Compensation Process for Top Official

“The organization is managed by connections academy of indiana, llc, and as such does not directly employ a ceo, executive director, or other executive personnel. Compensation of school personnel is determined by reference to industry norms and approved by the board of directors.”

Form 990 Part VI, Line 15B Compensation Process for Officers

“Compensation for other school employees is approved by the principal of the academy. Salaries for other employees are based on compensation data for positions in similar fields.”

Filing and Contact Details

Filer

Filer Name
Indiana Online Learning Options Inc
EIN
20-5905529
Phone
3175503188
Address
6640 INTECH BOULEVARD 250, INDIANAPOLIS, IN 46278

Signing Officer

Name
Stacy Taylor
Title
President
Phone
3175503188
Signed
2020-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacy Taylor
Formed
2005
Legal Domicile
In
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
5

Preparer

Firm
Donovan Pc
Address
5151 E US HWY 36, AVON, IN 46123
Preparer
Rex E Miller CPA Cgma
Phone
3177456411
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Professional accounting standards require iolo to recognize a tax liability only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax liability that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax liability is recorded. Iolo has examined this issue and has determined that there are no material contingent tax liabilities or questionable tax positions. Tax years after 2015 are open to audit for both federal and state purposes.”

Raw XML AppendixShowing 400 of 407 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
IRS990/AccountantCompileOrReviewInd00
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IRS990/AllOtherContributionsAmt0208573
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IRS990/CYBenefitsPaidToMembersAmt00
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IRS990/Desc0INDIANA ONLINE LEARNING OPTIONS, INC. IS A PUBLIC VIRTUAL CHARTER SCHOOL LOCATED IN INDIANAPOLIS, INDIANA THAT SERVES STUDENTS IN GRADES K-12 THROUGHOUT THE STATE OF INDIANA. DURING THE 2018-2019 ACADEMIC YEAR, THE ACADEMY PROVIDED QUALITY PUBLIC EDUCATION ON-LINE TO APPROXIMATELY 5,100 STUDENTS.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO CONNECTIONS ACADEMY OF INDIANA, LLC
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PROFESSIONAL ACCOUNTING STANDARDS REQUIRE IOLO TO RECOGNIZE A TAX LIABILITY ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX LIABILITY THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY-THAN-NOT TEST, NO TAX LIABILITY IS RECORDED. IOLO HAS EXAMINED THIS ISSUE AND HAS DETERMINED THAT THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. TAX YEARS AFTER 2015 ARE OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ENTERED INTO A PROFESSIONAL SERVICES AGREEMENT WITH CONNECTIONS ACADEMY OF INDIANA, LLC. CONNECTIONS ACADEMY OF INDIANA, LLC AGREES TO PROVIDE EDUCATIONAL SERVICES (INCLUDING BUT NOT LIMITED TO PROVIDING INSTRUCTIONAL MATERIALS, LEARNING PLANS, RECRUITMENT AND RETENTION OF TEACHERS AND ADMINISTRATORS, AND STAFF DEVELOPMENT) AND VARIOUS ADMINISTRATIVE SERVICES (INCLUDING BUT NOT LIMITED TO HUMAN RESOURCE MANAGEMENT, ACCOUNTING FUNCTIONS, BILLING AND COLLECTIONS).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL DOES NOT HAVE COMMITTEES WITH THE AUTHORITY TO ACT OF BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE FORM 990 IS PROVIDED ELECTRONICALLY TO ALL MEMBERS OF THE BOARD FOR REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IN CONNECTION WITH ANY TRANSACTION OR ARRANGEMENT THAT MIGHT GIVE RISE TO A CONFLICT OF INTEREST, DISCLOSURES MUST BE MADE BEFORE THE START OF A REGULARLY SCHEDULED BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF THE COMPLETED FORM 990 CAN BE FOUND BY GOING TO WWW.GUIDESTAR.ORG. ALL DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION IS MANAGED BY CONNECTIONS ACADEMY OF INDIANA, LLC, AND AS SUCH DOES NOT DIRECTLY EMPLOY A CEO, EXECUTIVE DIRECTOR, OR OTHER EXECUTIVE PERSONNEL. COMPENSATION OF SCHOOL PERSONNEL IS DETERMINED BY REFERENCE TO INDUSTRY NORMS AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COMPENSATION FOR OTHER SCHOOL EMPLOYEES IS APPROVED BY THE PRINCIPAL OF THE ACADEMY. SALARIES FOR OTHER EMPLOYEES ARE BASED ON COMPENSATION DATA FOR POSITIONS IN SIMILAR FIELDS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990 PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990 PART VI, LINE 15B COMPENSATION PROCESS FOR OFFICERS
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