Liabilities / Assets
78th percentile
Higher debt load relative to assets than 78% of similar nonprofits.
Paramount School of Excellence Incorporated
990 • Fiscal year 2016 • EIN 26-3890401
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.61x
Liabilities / Revenue
79th percentile
Higher debt load relative to revenue than 79% of similar nonprofits.
Net Margin
64th percentile
Higher net margin than 64% of similar nonprofits.
Top Officer Pay
30th percentile
Higher top officer pay than 30% of similar nonprofits.
Top officer pay equals 1.9% of source-year revenue.
Asset Growth
82nd percentile
Faster asset growth than 82% of similar nonprofits.
Revenue Growth
72nd percentile
Faster revenue growth than 72% of similar nonprofits.
Balance Sheet
Assets
Up$10,509,034
Up $2,629,235 (+33%) from 2014
Net Assets
Up$4,149,182
Up $714,416 (+21%) from 2014
Liabilities
Up$6,359,852
Up $1,914,819 (+43%) from 2014
Revenue And Expenses
Revenue
Up$6,505,974
Up $1,359,639 (+26%) from 2014
Expenses
Up$6,077,371
Up $1,537,669 (+34%) from 2014
Net Income
Down$428,603
Down $178,030 (-29%) from 2014
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2015 to Jun 30, 2016
- Signed
- Jan 9, 2017
- Return Version
- 2015v3.0
- Gross Receipts
- $6,537,728
Mission and Program Overview
Mission
To inspire learning through an unparalleled academic approach, and transform communities by changing lives.
The school offers a world-class education to each child built on a foundation of knowledge and wisdom. Each child will maximize their potential against measurable standards, developing the skills necessary to become successful and productive citizens in a global society developing compassion and understanding. Students will learn to respect their environment, themselves and one another. Paramount school of excellence will serve a high needs' population in grades k-8 using an integrated, humanities and research based curricula, and will develop a network of existing programs, services and resources to broaden the reach of choices to all schools, students and families. The schools primary source of revenue and support are grants from the indiana department of education.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $6,455,585 | $7,719,705 | ▲ $1,264,120 |
| Cash and Non-Interest-Bearing Accounts | $1,064,052 | $2,053,896 | ▲ $989,844 |
| Savings and Temporary Cash Investments | $504,077 | $507,748 | ▲ $3,671 |
| Accounts Receivable | $192,876 | $98,323 | ▼ $94,553 |
| Intangible Assets | - | $84,550 | - |
| Prepaid Expenses and Deferred Charges | $49,810 | $41,097 | ▼ $8,713 |
| Total Assets | $8,266,400 | $10,509,034 | ▲ $2,242,634 |
| Other Assets Total | $0 | $3,715 | ▲ $3,715 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $4,156,182 | $5,534,754 | ▲ $1,378,572 |
| Accounts Payable and Accrued Expenses | $372,139 | $825,098 | ▲ $452,959 |
| Other Liabilities | $17,500 | $0 | ▼ $17,500 |
| Total Liabilities | $4,545,821 | $6,359,852 | ▲ $1,814,031 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $3,698,544 | $4,149,182 | ▲ $450,638 |
| Temporarily Rstr Net Assets | $22,035 | $0 | ▼ $22,035 |
| Total Net Assets Fund Balance | $3,720,579 | $4,149,182 | ▲ $428,603 |
| Total Liabilities and Net Assets / Fund Balance | $8,266,400 | $10,509,034 | ▲ $2,242,634 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $5,042,250 | $611,613 | $5,653,863 |
| Other Land Buildings | $1,626,569 | $278,380 | $1,904,949 |
| Equipment | $114,386 | $1,209,448 | $1,323,834 |
| Land | $936,500 | - | $936,500 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Thomas Reddicks | Executive Director | FT | $109,715 | $12,923 | $122,638 |
| James Hazzard | Vice Chair | - | $41,250 | - | $41,250 |
Board Members and Trustees
| Name | Title |
|---|---|
| Tom Rude | President |
| Heather Maurer | Board Member |
| Peggy Blackard | Board Member |
| Brittany Eldgridge | Board Member-12/8 to 6/30 |
| Christopher Park | Board Member-12/8 to 6/30 |
| Michael Teso | Board Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $6,442,885
- Program Service Revenue
- $1,205
- Investment Income
- $5,167
- Other Revenue
- $56,717
- All Other Contributions
- $13,129
- Change in Net Assets
- $428,603
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $6,505,974
- Revenue Not Reported on Financial Statements
- $0
- Revenue Not Reported on Form 990
- $31,754
- Total Revenue per Audited Statements
- $6,537,728
- Total Revenue per Form 990
- $6,505,974
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $3,975,029 |
| Other Expenses | $2,102,342 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $2,267,320 | $727,934 | - | $2,995,254 |
| Other Employee Benefits | $603,334 | $193,703 | - | $797,037 |
| Fees for Services Other | $342,471 | $110,117 | - | $452,588 |
| Depreciation Depletion | $269,246 | $86,443 | - | $355,689 |
| Occupancy | $147,044 | $47,209 | - | $194,253 |
| Current Officers, Directors, Trustees, and Key Employees | $114,401 | $36,564 | - | $150,965 |
| Interest | $90,149 | $28,943 | - | $119,092 |
| Office Expenses | $91,918 | $12,013 | - | $103,931 |
| All Other Expenses | $65,834 | $6,879 | - | $72,713 |
| Insurance | $39,739 | $12,758 | - | $52,497 |
| Other Expenses | $27,116 | $8,706 | - | $35,822 |
| Pension Plan Contributions | $24,051 | $7,722 | - | $31,773 |
| Travel | $15,606 | $5,011 | - | $20,617 |
| Advertising | $15,207 | $4,882 | - | $20,089 |
| Total Functional Expenses | $4,624,430 | $1,452,941 | $0 | $6,077,371 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $6,109,125 |
| Expenses per Audited Statements | $6,077,371 |
| Total Expenses per Form 990 | $6,077,371 |
| Expenses Not Reported on Form 990 | $31,754 |
| Expenses Not Reported on Financial Statements | $0 |
Fundraising, Events, and Gaming
- Fundraising activities
- Yes
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Fundraising Gross Income | $40,620 |
| Fundraising Direct Expenses | $31,754 |
| Professional Fundraising Fees | $0 |
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| TURN Festival | $43,008 | $40,620 | $29,814 | $10,806 |
| Total Events | $43,008 | $40,620 | $31,754 | $8,866 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Bond Issues
| Bond | Issuer | Issued | Issue Price | Purpose |
|---|---|---|---|---|
| A | Indiana Finance Authority | 2015-12-17 | $5,175,000 | See Part XI |
Bond Proceeds
| Bond | Total Proceeds | Spent | Retired | Issuance Costs |
|---|---|---|---|---|
| A | $5,175,000 | - | - | $89,000 |
Bond Financing Compliance
- No rebate due
- No
- Rebate not yet due
- Yes
- Form 8038-T filed
- No
- Gross proceeds invested
- No
- Gross proceeds invested in GIC
- No
- Exception to rebate
- No
- Corrective action procedures
- Yes
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
- 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, Part VI, Section B, line 11
“The process of reviewing the Form 990 includes a detailed review of the Form 990 and required schedules by the Executive Director, Board President and Treasurer. Each voting member of the governing body receives a copy of the Form 990 to review prior to filing with the IRS.”
Form 990, Part VI, Section B, line 12C
“The written conflict of interest policy is regularly and consistently monitored and compliance enforced by the board chairman. The scope of this policy includes all board members, members of committees with board delegated powers, employees, or other person designated by the director as subject to this policy. The policy is in place to avoid any duality of interest or potential conflict of interest by full disclosure of any such potential conflict, and by abstention by the interested person from any vote on a matter in which a conflict exists between the interested person and the school. The covered persons are to annually sign a certification form to acknowledge the absence of or existence of any conflict of interest and to describe such existence, if applicable. Each person shall promptly furnish and update certification to the school in the event that the certification previously furnished is no longer true and complete. The covered persons are to refrain from any known or anticipated financial interest or relationship which could reasonably be expected to create a conflict of interest on any matter which might come before the board of directors. A self-disclosure from covered persons to the chairman or the secretary of the board of directors is required on any potential conflicts of interest. The covered persons are to recuse from participating in any deliberation or decisions on such transactions. The board of directors reviews the conflicts disclosed.”
Form 990, Part VI, Section B, line 15
“The process for determining compensation for the School Director includes a review and approval by independent persons of the Executive Committee. Compensation is reviewed and approved annually. The Executive Committee uses industry standard data prior to board discussion and approval. Other schools' form 990 info is used as comparable data. The deliberation, decision, and approval are documented in the Executive committee minutes. There were no changes to the Executive Director's compensation for the current year.”
Form 990, Part VI, Section C, line 19
“The school makes the governing documents, conflict of interest policy, or financial statements available to the public upon request.”
Filing and Contact Details
Filer
- Filer Name
- Paramount School of Excellence Inc
- EIN
- 26-3890401
- Phone
- 3177756660
- Address
- 3020 Nowland Ave, Indianapolis, IN 46201
Signing Officer
- Name
- Thomas Reddicks
- Title
- Executive Director
- Phone
- 3177756660
- Signed
- 2017-01-09
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Thomas Reddicks
- Formed
- 2009
- Legal Domicile
- In
- Voting Board Members
- 7
- Independent Board Members
- 6
- Employees
- 98
- Volunteers
- 49
Preparer
- Firm
- Blue & Co LLC
- Address
- 500 N Meridian St Suite 200, Indianapolis, IN 46204
- Preparer
- Amber Kocher CPA
- Phone
- 3176334705
Supplemental Narrative
Additional Explanations
Form 990, Part XII, line 2C: Oversight of Audit
“The board of directors assumes responsibility for the oversight of the financial statement audit and no processes have changed from prior year.”
Financial Statement Notes
Part X, Line 2:
“Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by Paramount and recognize a tax liability if Paramount has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by Paramount, and has concluded that as of June 30, 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. Paramount is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”
Part XI, Line 2D - Other Adjustments:
“Fundraising Expenses 31,754.”
Part XII, Line 2D - Other Adjustments:
“Fundraising Expenses 31,754.”
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| IRS990/ActivityOrMissionDesc | 0 | THE SCHOOL OFFERS A WORLD-CLASS EDUCATION TO EACH CHILD BUILT ON A FOUNDATION OF KNOWLEDGE AND WISDOM. EACH CHILD WILL MAXIMIZE THEIR POTENTIAL AGAINST MEASURABLE STANDARDS, DEVELOPING THE SKILLS NECESSARY TO BECOME SUCCESSFUL AND PRODUCTIVE CITIZENS IN A GLOBAL SOCIETY DEVELOPING COMPASSION AND UNDERSTANDING. STUDENTS WILL LEARN TO RESPECT THEIR ENVIRONMENT, THEMSELVES AND ONE ANOTHER. PARAMOUNT SCHOOL OF EXCELLENCE WILL SERVE A HIGH NEEDS' POPULATION IN GRADES K-8 USING AN INTEGRATED, HUMANITIES AND RESEARCH BASED CURRICULA, AND WILL DEVELOP A NETWORK OF EXISTING PROGRAMS, SERVICES AND RESOURCES TO BROADEN THE REACH OF CHOICES TO ALL SCHOOLS, STUDENTS AND FAMILIES. THE SCHOOLS PRIMARY SOURCE OF REVENUE AND SUPPORT ARE GRANTS FROM THE INDIANA DEPARTMENT OF EDUCATION. |
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| IRS990/Desc | 0 | THE SCHOOL OFFERS ELEMENTARY AND MIDDLE SCHOOL EDUCATION, SPECIAL EDUCATION, AND INSTRUCTIONAL STAFF TRAINING PROGRAMS. THE SCHOOLS CURRICULUM INCLUDES CORE KNOWLEDGE, A COLLABORATIVE AND SEAMLESS EDUCATION PROGRAM, THAT HAS BEEN ALIGNED TO MEET THE INDIANA STATE ACADEMIC STANDARDS FOR APPROXIMATELY 650 STUDENTS IN GRADES K-8. THE SCHOOL PARTNERED WITH A NATIONAL CORE KNOWLEDGE CONSULTANT TO DEVELOP A THEMATIC, PROJECT-BASED APPROACH THAT INTEGRATED CONTENT ACROSS ALL SUBJECT AREAS AND MAXIMIZED THE USE OF TECHNOLOGY. CORE KNOWLEDGE IS DESIGNED TO BE THE BASIS OF THE SCHOOL'S CURRICULUM, PROVIDING A SOLID, SHARED, SPECIFIC, AND SEQUENCED FOUNDATION FOR LEARNING. CORE KNOWLEDGE CONTENT SERVES AS A RESOURCE FOR TEACHERS AND A FOUNDATION FROM WHICH TO DEVELOP FUTURE UNITS THAT ALIGN WITH THE CORE KNOWLEDGE SEQUENCE. |
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| IRS990/IndependentVotingMemberCnt | 0 | 6 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 12758 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 39739 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 52497 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 84550 |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 28943 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 90149 |
| IRS990/InterestGrp/TotalAmt | 0 | 119092 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 5167 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 5167 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestTaxExemptBondsInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 36 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 2099441 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 6455585 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 7719705 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 9819146 |
| IRS990/LegalDomicileStateCd | 0 | IN |
| IRS990/LoanOutstandingInd | 0 | 0 |
| IRS990/LobbyingActivitiesInd | 0 | 0 |
| IRS990/LocalChaptersInd | 0 | 0 |
| IRS990/MaterialDiversionOrMisuseInd | 0 | 0 |
| IRS990/MembersOrStockholdersInd | 0 | 0 |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | 1 |
| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | To inspire learning through an unparalleled academic approach, and transform communities by changing lives. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | 0 |
| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt | 0 | 4156182 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 5534754 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 3720579 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 4149182 |
| IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt | 0 | 8866 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 8866 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 47209 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 147044 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 194253 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 12013 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 91918 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 103931 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 0 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 3715 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 193703 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 603334 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 797037 |
| IRS990/OtherExpensesGrp/Desc | 0 | Food Supplies |
| IRS990/OtherExpensesGrp/Desc | 1 | Small Equipment |
| IRS990/OtherExpensesGrp/Desc | 2 | Dues & Sub. |
| IRS990/OtherExpensesGrp/Desc | 3 | Course Materials |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 94449 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 59143 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 10465 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 3 | 8706 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 294182 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 184216 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 32596 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 27116 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 388631 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 243359 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 43061 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 35822 |
| IRS990/OtherLiabilitiesGrp/BOYAmt | 0 | 17500 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 0 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 900099 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 1 | 900099 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 2 | 900099 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | Other Revenue |
| IRS990/OtherRevenueMiscGrp/Desc | 1 | School Lunch Sales |
| IRS990/OtherRevenueMiscGrp/Desc | 2 | Overpayments/Reimburse |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 47352 |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 1 | 328 |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 2 | 171 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 47352 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 1 | 328 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 2 | 171 |
| IRS990/OtherRevenueTotalAmt | 0 | 47851 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 727934 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 2267320 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 2995254 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 7722 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 24051 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 31773 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 49810 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 41097 |
| IRS990/PrincipalOfficerNm | 0 | Thomas Reddicks |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 611710 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | Student Fees |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1205 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 1205 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | THE SCHOOL ALSO USES "IMAGINE IT READING AND "EVERYDAY MATH", ALONG WITH ADDITIONAL EXTENSIONS TO PROVIDE A COMPREHENSIVE PLATFORM OF INSTRUCTIONAL APPROACHES THAT ARE IMPLEMENTED AND AUGMENTED THROUGH THE USE OF TECHNOLOGY. INTERVENTION AND ENRICHMENT OF READING AND MATH CONTENT OCCUR THROUGH THE USE OF ACCELERATED READER AND ACCELERATED MATH (ALONG WITH STAR READING AND STAR MATH). THESE RESOURCES USE A COHESIVE COMBINATION OF PROGRESS MONITORING AND TECHNOLOGY TO PROVIDE A PLATFORM OF BALANCED INTERVENTION. |
| IRS990/ProhibitedTaxShelterTransInd | 0 | 0 |
| IRS990/PYBenefitsPaidToMembersAmt | 0 | 0 |
| IRS990/PYContributionsGrantsAmt | 0 | 5996612 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 4128 |
| IRS990/PYOtherExpensesAmt | 0 | 2268400 |
| IRS990/PYOtherRevenueAmt | 0 | 8533 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 2108 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 279333 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 3463648 |
| IRS990/PYTotalExpensesAmt | 0 | 5732048 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 6011381 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 428603 |
| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
| IRS990/RelatedEntityInd | 0 | 0 |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | 0 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | 0 |
| IRS990/ReportLandBuildingEquipmentInd | 0 | 1 |
| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 0 |
| IRS990/ReportProgramRelatedInvstInd | 0 | 0 |
| IRS990/RevenueAmt | 0 | 49056 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 504077 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 507748 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 5042250 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 611613 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 5653863 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 114386 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 1209448 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 1323834 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 31754 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 6077371 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 936500 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 936500 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 31754 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 1626569 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 278380 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 1904949 |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 31754 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 31754 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 6505974 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by Paramount and recognize a tax liability if Paramount has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by Paramount, and has concluded that as of June 30, 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. Paramount is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | Fundraising Expenses 31,754. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | Fundraising Expenses 31,754. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part X, Line 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part XI, Line 2d - Other Adjustments: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Part XII, Line 2d - Other Adjustments: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 7719705 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 6077371 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 6505974 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 6537728 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 6109125 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | 1 |
| IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | 0 |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | 0 |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | 1 |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | 0 |
| IRS990ScheduleE/MaintainCpyOfAllSolInd | 0 | 1 |
| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | 1 |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | 1 |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | 1 |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | 1 |
| IRS990ScheduleE/PolicyStmtInBrochuresEtcInd | 0 | 1 |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | Paramount School of Excellence is promoted via all internet and printed material as an urban charter school open to all who apply, except if the school is over-subscribed, in which case a public lottery is held for all of the students who applied during the open enrollment window. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | Paramount School of Excellence receives state funds that have been designated for charter schools from the Indiana Department of Education. The state uses a formula based on the number of students enrolled in the school during the year to determine the amount of funds the school receives. Approximately (76%) of the school's funding is from the Indiana Department of Education. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule E, Part I, Line 3 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Schedule E, Part I, Line 6 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt | 0 | 2388 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt | 0 | 2388 |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 31754 |
| IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt | 0 | 1940 |
| IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt | 0 | 1940 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | TURN Festival |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 43008 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 43008 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt | 0 | 40620 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt | 0 | 40620 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | 8866 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt | 0 | 29814 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt | 0 | 29814 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd | 0 | 1 |
| IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt | 0 | The purpose of the Educational Facilities Revenue Bonds, Series 2015, will be used for (i) the costs incurred in connection with the acquisition, construction, installation and equipping of an approximately 16,000 square foot addition to its existing facilities; (ii) renovation of its existing facility; (iii) refinancing of prior debt incurred in connection with the acquisition of the existing facility, and (iv) certain costs of issuance. |
| IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule K, Part I, Description of purpose |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd | 0 | 1 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt | 0 | 2015-12-17 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN | 0 | 351602316 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd | 0 | A |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt | 0 | 5175000 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt | 0 | Indiana Finance Authority |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc | 0 | See Part XI |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd | 0 | 0 |
| IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd | 0 | 0 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $10,509,034
- Liabilities
- $6,359,852
- Net assets
- $4,149,182
- Revenue
- $6,505,974
- Expenses
- $6,077,371
- Net income
- $428,603