Liabilities / Assets
72nd percentile
Higher debt load relative to assets than 72% of similar nonprofits.
Paramount School of Excellence Incorporated
990 • Fiscal year 2018 • EIN 26-3890401
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.49x
Liabilities / Revenue
74th percentile
Higher debt load relative to revenue than 74% of similar nonprofits.
Net Margin
72nd percentile
Higher net margin than 72% of similar nonprofits.
Top Officer Pay
34th percentile
Higher top officer pay than 34% of similar nonprofits.
Top officer pay equals 1.6% of source-year revenue.
Asset Growth
73rd percentile
Faster asset growth than 73% of similar nonprofits.
Revenue Growth
64th percentile
Faster revenue growth than 64% of similar nonprofits.
Balance Sheet
Assets
Up$12,086,806
Up $1,030,274 (+9.3%) from 2017
Net Assets
Up$6,159,561
Up $1,140,263 (+23%) from 2017
Liabilities
Down$5,927,245
Down $109,989 (-1.8%) from 2017
Revenue And Expenses
Revenue
Up$8,251,460
Up $695,998 (+9.2%) from 2017
Expenses
Up$7,111,197
Up $425,851 (+6.4%) from 2017
Net Income
Up$1,140,263
Up $270,147 (+31%) from 2017
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2017 to Jun 30, 2018
- Signed
- Dec 20, 2018
- Return Version
- 2017v2.3
- Gross Receipts
- $8,286,494
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 | $9,409,781 | $9,396,292 | ▼ $13,489 |
| Cash and Non-Interest-Bearing Accounts | $1,049,311 | $2,027,165 | ▲ $977,854 |
| Savings and Temporary Cash Investments | $512,574 | $518,591 | ▲ $6,017 |
| Accounts Receivable | $67,269 | $111,226 | ▲ $43,957 |
| Prepaid Expenses and Deferred Charges | $16,597 | $33,532 | ▲ $16,935 |
| Total Assets | $11,056,532 | $12,086,806 | ▲ $1,030,274 |
| Other Assets Total | $1,000 | $0 | ▼ $1,000 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $5,521,098 | $5,458,022 | ▼ $63,076 |
| Accounts Payable and Accrued Expenses | $516,136 | $469,223 | ▼ $46,913 |
| Total Liabilities | $6,037,234 | $5,927,245 | ▼ $109,989 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $5,019,298 | $6,159,561 | ▲ $1,140,263 |
| Total Net Assets Fund Balance | $5,019,298 | $6,159,561 | ▲ $1,140,263 |
| Total Liabilities and Net Assets / Fund Balance | $11,056,532 | $12,086,806 | ▲ $1,030,274 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $8,065,685 | $973,843 | $9,039,528 |
| Equipment | $285,682 | $1,404,609 | $1,690,291 |
| Land | $936,500 | - | $936,500 |
| Other Land Buildings | $108,425 | $337,012 | $445,437 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Thomas Reddicks | Executive Director | FT | $121,086 | $13,034 | $134,120 |
| Scott Frye | School Principal | FT | $116,892 | $10,073 | $126,965 |
Board Members and Trustees
| Name | Title |
|---|---|
| Tom Rude | Board Chair |
| James Hazzard | Vice Chair |
| Aster Bekele | Board Member |
| Christopher Park | Board Member |
| Jude Amu | Board Member |
| Amanda Bishop | Board Member- 2/1 - 6/30 |
| Heather Maurer | BOARD MEMBER- TERM ENDED 12/'17 |
| Peggy Blackard | Board Secretary |
| Brittany Eldgridge | Board Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Aramark | Food Service | 2855 N FRANKLIN ROAD, Indianapolis, IN 46219 | $479,989 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $8,182,662
- Program Service Revenue
- $1,440
- Investment Income
- $3,768
- Other Revenue
- $63,590
- All Other Contributions
- $151,874
- Change in Net Assets
- $1,140,263
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $8,255,409
- Revenue Not Reported on Financial Statements
- $-3,949
- Revenue Not Reported on Form 990
- $0
- Other Revenue Adjustments
- $-3,949
- Total Revenue per Audited Statements
- $8,255,409
- Total Revenue per Form 990
- $8,251,460
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $4,668,237 |
| Other Expenses | $2,442,960 |
| 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 | $2,775,916 | $693,979 | - | $3,469,895 |
| Other Employee Benefits | $829,609 | $207,402 | - | $1,037,011 |
| Office Expenses | $527,982 | $131,996 | - | $659,978 |
| Fees for Services Other | $514,798 | $128,699 | - | $643,497 |
| Depreciation Depletion | $274,624 | $68,656 | - | $343,280 |
| Occupancy | $227,399 | $56,850 | - | $284,249 |
| Interest | $164,638 | $41,159 | - | $205,797 |
| Current Officers, Directors, Trustees, and Key Employees | $107,368 | $26,842 | - | $134,210 |
| All Other Expenses | $45,328 | $11,333 | - | $56,661 |
| Travel | $43,137 | $10,784 | - | $53,921 |
| Insurance | $29,400 | $7,350 | - | $36,750 |
| Pension Plan Contributions | $21,697 | $5,424 | - | $27,121 |
| Advertising | $14,263 | $3,566 | - | $17,829 |
| Other Expenses | $1,848 | $462 | - | $2,310 |
| Total Functional Expenses | $5,688,958 | $1,422,239 | $0 | $7,111,197 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $7,115,146 |
| Expenses per Audited Statements | $7,111,197 |
| Total Expenses per Form 990 | $7,111,197 |
| Expenses Not Reported on Form 990 | $3,949 |
| 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 | $23,162 |
| Fundraising Direct Expenses | $18,085 |
| Professional Fundraising Fees | $0 |
Fundraising Events
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Turn Festival | $43,162 | $23,162 | $5,364 | $17,798 |
| Total Events | $43,162 | $23,162 | $18,085 | $5,077 |
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 11B
“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 is enforced by the board chairman. The scope of this policy includes all board of directors, members of committees with board delegated powers. 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 interest 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. Self-disclosure is required on any potential conflicts of interest. Any board member in conflict is to recuse themselves from participating in any deliberation or decisions on related transactions. The board of directors reviews all disclosed conflicts.”
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 school's form 990 info is used as comparable data. The deliberation, decision, and approval are documented in the executive committee memo. There were no changes to the executive director's compensation for 2017.”
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
- EIN
- 26-3890401
- Phone
- 3177756660
- Address
- 3020 NOWLAND AVE, INDIANAPOLIS, IN 46201
Signing Officer
- Name
- Thomas Reddicks
- Title
- Executive Director
- Phone
- 3177756660
- Signed
- 2018-12-20
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Thomas Reddicks
- Formed
- 2009
- Legal Domicile
- In
- Voting Board Members
- 8
- Independent Board Members
- 7
- Employees
- 143
- Volunteers
- 65
Preparer
- Firm
- Blue & Co LLC
- Address
- 500 N MERIDIAN ST SUITE 200, INDIANAPOLIS, IN 46204
- Preparer
- Angela N Crawford 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, 2018 and 2017, 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 4B - OTHER ADJUSTMENTS:
“Loss on sale of an asset -3,949.”
PART XII, LINE 2D - OTHER ADJUSTMENTS:
“Loss on sale of an asset 3,949.”
Raw XML AppendixShowing 400 of 534 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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| 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 HAS BEEN ALIGNED TO MEET THE INDIANA STATE ACADEMIC STANDARDS FOR APPROXIMATELY 685 STUDENTS IN GRADES K-8. |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 8 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 9 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 10 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | BOARD CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | VICE CHAIR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | BOARD SECRETARY |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | BOARD TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | BOARD MEMBER- 2/1 - 6/30 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 7 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 8 | BOARD MEMBER- TERM ENDED 12/'17 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 9 | EXECUTIVE DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | SCHOOL PRINCIPAL |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | 1 |
| IRS990/FormationYr | 0 | 2009 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | 0 |
| IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd | 0 | X |
| IRS990/FSAuditedInd | 0 | 1 |
| IRS990/FundraisingActivitiesInd | 0 | 1 |
| IRS990/FundraisingAmt | 0 | 20000 |
| IRS990/FundraisingDirectExpensesAmt | 0 | 18085 |
| IRS990/FundraisingGrossIncomeAmt | 0 | 23162 |
| IRS990/GainOrLossGrp/OtherAmt | 0 | -3949 |
| IRS990/GamingActivitiesInd | 0 | 0 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 8 |
| IRS990/GovernmentGrantsAmt | 0 | 8010788 |
| IRS990/GrantsToIndividualsInd | 0 | 0 |
| IRS990/GrantsToOrganizationsInd | 0 | 0 |
| IRS990/GrantToRelatedPersonInd | 0 | 0 |
| IRS990/GrossAmountSalesAssetsGrp/OtherAmt | 0 | 13000 |
| IRS990/GrossReceiptsAmt | 0 | 8286494 |
| IRS990/GroupReturnForAffiliatesInd | 0 | 0 |
| IRS990/IncludeFIN48FootnoteInd | 0 | 1 |
| IRS990/IndependentAuditFinclStmtInd | 0 | 1 |
| IRS990/IndependentVotingMemberCnt | 0 | 7 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 2 |
| IRS990/IndoorTanningServicesInd | 0 | 0 |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InfoInScheduleOPartXIIInd | 0 | X |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 7350 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 29400 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 36750 |
| IRS990/InterestGrp/ManagementAndGeneralAmt | 0 | 41159 |
| IRS990/InterestGrp/ProgramServicesAmt | 0 | 164638 |
| IRS990/InterestGrp/TotalAmt | 0 | 205797 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 7717 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 7717 |
| IRS990/InvestmentInJointVentureInd | 0 | 0 |
| IRS990/InvestTaxExemptBondsInd | 0 | 0 |
| IRS990/IRPDocumentCnt | 0 | 46 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 2715464 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 9409781 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 9396292 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 12111756 |
| IRS990/LegalDomicileStateCd | 0 | IN |
| IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt | 0 | 16949 |
| 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/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 58513 |
| IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt | 0 | 58513 |
| 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 | 5521098 |
| IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt | 0 | 5458022 |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 5019298 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 6159561 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | -3949 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | -3949 |
| IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt | 0 | 5077 |
| IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt | 0 | 5077 |
| IRS990/NetUnrelatedBusTxblIncmAmt | 0 | 0 |
| IRS990/NoncashContributionsAmt | 0 | 6360 |
| IRS990/NondeductibleContributionsInd | 0 | 0 |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 56850 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 227399 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 284249 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 131996 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 527982 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 659978 |
| IRS990/OfficerMailingAddressInd | 0 | 0 |
| IRS990/OnBehalfOfIssuerInd | 0 | 0 |
| IRS990/OperateHospitalInd | 0 | 0 |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsSFAS117Ind | 0 | X |
| IRS990/OtherAssetsTotalGrp/BOYAmt | 0 | 1000 |
| IRS990/OtherAssetsTotalGrp/EOYAmt | 0 | 0 |
| IRS990/OtherChangesInNetAssetsAmt | 0 | 0 |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 207402 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 829609 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 1037011 |
| IRS990/OtherExpensesGrp/Desc | 0 | DUES & SUB. |
| IRS990/OtherExpensesGrp/Desc | 1 | SMALL EQUIPMENT |
| IRS990/OtherExpensesGrp/Desc | 2 | COURSE MATERIALS |
| IRS990/OtherExpensesGrp/Desc | 3 | BANK FEES |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 13940 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 10229 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 3568 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 3 | 462 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 55762 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 40915 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 14274 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 1848 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 69702 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 51144 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 17842 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 2310 |
| IRS990/OtherRevenueTotalAmt | 0 | 58513 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 693979 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 2775916 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 3469895 |
| IRS990/PartialLiquidationInd | 0 | 0 |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 5424 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 21697 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 27121 |
| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 16597 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 33532 |
| IRS990/PrincipalOfficerNm | 0 | THOMAS REDDICKS |
| IRS990/ProfessionalFundraisingInd | 0 | 0 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 611710 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | STUDENT FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 1440 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 1440 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | THE SCHOOL ALSO USES PEARSON PRODUCTS FOR READING AND MATH CURRICULUM ALONG WITH ADDITIONAL EXTENSIONS TO PROVIDE A COMPREHENSIVE PLATFORM OF INSTRUCTIONAL APPROACHES THAT ARE IMPLEMENTED AND AUGMENTED THROUGH THE USE OF TECHNOLOGY. 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 | 7462002 |
| IRS990/PYExcessBenefitTransInd | 0 | 0 |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 0 |
| IRS990/PYInvestmentIncomeAmt | 0 | 6827 |
| IRS990/PYOtherExpensesAmt | 0 | 2154230 |
| IRS990/PYOtherRevenueAmt | 0 | 86448 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 185 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 870116 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 4531116 |
| IRS990/PYTotalExpensesAmt | 0 | 6685346 |
| IRS990/PYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/PYTotalRevenueAmt | 0 | 7555462 |
| IRS990/QuidProQuoContributionsInd | 0 | 0 |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | 0 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 1140263 |
| 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 | 59953 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 512574 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 518591 |
| IRS990ScheduleA/SchoolInd | 0 | X |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 8065685 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 973843 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 9039528 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 285682 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 1404609 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 1690291 |
| IRS990ScheduleD/ExpensesNotReportedAmt | 0 | 3949 |
| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 7111197 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 936500 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 936500 |
| IRS990ScheduleD/OtherExpensesIncludedAmt | 0 | 3949 |
| IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt | 0 | 108425 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 337012 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 445437 |
| IRS990ScheduleD/OtherRevenuesNotIncludedAmt | 0 | -3949 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 0 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | -3949 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 8255409 |
| 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, 2018 AND 2017, 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 | LOSS ON SALE OF AN ASSET -3,949. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | LOSS ON SALE OF AN ASSET 3,949. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 4B - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 9396292 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 7111197 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 8251460 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 8255409 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 7115146 |
| 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 69% 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 | 20000 |
| IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt | 0 | 20000 |
| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 18085 |
| IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt | 0 | 1250 |
| IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt | 0 | 1250 |
| IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm | 0 | TURN FESTIVAL |
| IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt | 0 | 4812 |
| IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt | 0 | 4812 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt | 0 | 43162 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt | 0 | 43162 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt | 0 | 23162 |
| IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt | 0 | 23162 |
| IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt | 0 | 5077 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt | 0 | 5364 |
| IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt | 0 | 5364 |
| IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt | 0 | 6659 |
| IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt | 0 | 6659 |
| 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 |
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.
- Assets
- $12,086,806
- Liabilities
- $5,927,245
- Net assets
- $6,159,561
- Revenue
- $8,251,460
- Expenses
- $7,111,197
- Net income
- $1,140,263