Civic Intelligence

Indiana Online Learning Options Inc.

990 • Fiscal year 2018 • EIN 20-5905529

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 26, 2019

Organization ProfileWWW.CONNECTIONSACADEMY.COM/INDIANA

Refreshing map…

6640 Intech Boulevard 250Indianapolis, IN 46278

(317) 550-3188

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.00x

Higher debt load relative to assets than 93% of similar nonprofits.

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

Liabilities / Revenue

59th percentile

0.42x

Higher debt load relative to revenue than 59% of similar nonprofits.

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

Net Margin

33rd percentile

0.1%

Higher net margin than 33% of similar nonprofits.

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

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

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

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

Asset Growth

92nd percentile

33%

Faster asset growth than 92% of similar nonprofits.

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

Revenue Growth

71st percentile

14%

Faster revenue growth than 71% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$12,538,584

Up $3,120,618 (+33%) from 2017

Net Assets

Up

$35,790

Up $20,341 (+132%) from 2017

Liabilities

Up

$12,502,794

Up $3,100,277 (+33%) from 2017

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin33rd percentile

Revenue

Up

$29,975,144

Up $3,701,180 (+14%) from 2017

Expenses

Up

$29,954,803

Up $3,685,379 (+14%) from 2017

Net Income

Up

$20,341

Up $15,801 (+348%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$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

2018

Assets$12,538,584
Liabilities$12,502,794
Net Assets$35,790
Open 2018 Filing

Operations Trend

Revenue Growth71st percentile

Revenue, expenses, and net income across loaded years, with this 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

2018

Revenue$29,975,144
Expenses$29,954,803
Net Income$20,341
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 26, 2019
Return Version
2017v2.3
Gross Receipts
$29,975,144
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$4,808,547$7,957,200▲ $3,148,653
Pledges and Grants Receivable$4,574,871$4,546,259▼ $28,612
Land, Buildings, and Equipment, Net$31,728$21,626▼ $10,102
Accounts Receivable$0$12,270▲ $12,270
Prepaid Expenses and Deferred Charges$2,820$1,229▼ $1,591
Total Assets$9,417,966$12,538,584▲ $3,120,618
Liabilities
Other Liabilities$8,668,671$11,489,850▲ $2,821,179
Accounts Payable and Accrued Expenses$725,617$1,012,944▲ $287,327
Deferred Revenue$8,229$0▼ $8,229
Total Liabilities$9,402,517$12,502,794▲ $3,100,277
Net Assets / Fund Balance
Unrestricted Net Assets$15,449$35,790▲ $20,341
Total Net Assets Fund Balance$15,449$35,790▲ $20,341
Total Liabilities and Net Assets / Fund Balance$9,417,966$12,538,584▲ $3,120,618

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$20,036$58,914$78,950
Leasehold Improvements$1,590$2,978$4,568
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Stacy TaylorPresident
Mckenzie RogersBoard Member
Richard EllerySecretary
Michelle RebergTreasurer
Ravi ShahTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Connections EducationEducation Management10960 GRANTCHESTER WAY, Columbia, MD 21044$16,163,194
Revenue and Support

Revenue Composition

Contributions and Grants
$29,975,060
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$84
All Other Contributions
$823,946
Change in Net Assets
$20,341

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,975,144
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$29,975,144
Total Revenue per Form 990
$29,975,144
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$19,266,569
Salaries, Compensation, and Employee Benefits$10,688,234
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,258,760--$8,258,760
Information Technology$3,746,211--$3,746,211
Other Employee Benefits$2,429,474--$2,429,474
Fees for Services Management$335,840$501,053-$836,893
Other Expenses$905,904$652,391-$652,391
All Other Expenses$318,269$125,007-$443,276
Occupancy$144,427--$144,427
Travel$18,611--$18,611
Depreciation Depletion$11,538--$11,538
Insurance-$2,820-$2,820
Total Functional Expenses$27,238,884$2,715,919$0$29,954,803

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$29,954,803
Total Expenses per Audited Statements$29,954,803
Total Expenses per Form 990$29,954,803
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$11,489,850
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
2019-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacy Taylor
Formed
2005
Legal Domicile
In
Voting Board Members
3
Independent Board Members
3
Employees
179
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 the school 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. The school has examined this issue and has determined that there are no material contingent tax liabilities or questionable tax positions. Tax years after 2014 are open to audit for both federal and state purposes.”

Raw XML Appendix398 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.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PROFESSIONAL ACCOUNTING STANDARDS REQUIRE THE SCHOOL 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. THE SCHOOL HAS EXAMINED THIS ISSUE AND HAS DETERMINED THAT THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. TAX YEARS AFTER 2014 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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ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,538,584
Liabilities
$12,502,794
Net assets
$35,790
Revenue
$29,975,144
Expenses
$29,954,803
Net income
$20,341
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
2018Detailed filing. Detailed filing data is available for this year.$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