Civic Intelligence

Knowledge Academies Inc.

990 • Fiscal year 2015 • EIN 27-0547275

Jul 01, 2014 to Jun 30, 2015 • Filed on May 04, 2016

5320 Hickory Hollow Pkwy Ste BAntioch, TN 37013

(615) 800-6814

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

$682,151

No earlier filing loaded for comparison.

Net Assets

$201,602

No earlier filing loaded for comparison.

Liabilities

$480,549

No earlier filing loaded for comparison.

Revenue And Expenses

Revenue

$3,242,670

No earlier filing loaded for comparison.

Expenses

$3,048,337

No earlier filing loaded for comparison.

Net Income

$194,333

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$40M$20M$0-$20MAssets 2015: $682,151Liabilities 2015: $480,549Net Assets 2015: $201,6022015Assets 2016: $1,318,969Liabilities 2016: $798,637Net Assets 2016: $520,3322016Assets 2017: $1,342,457Liabilities 2017: $1,658,003Net Assets 2017: -$315,5462017Assets 2018: $25,795,577Liabilities 2018: $28,024,231Net Assets 2018: -$2,228,6542018Assets 2019: $25,784,247Liabilities 2019: $30,995,688Net Assets 2019: -$5,211,4412019Assets 2020: $25,686,975Liabilities 2020: $33,623,453Net Assets 2020: -$7,936,4782020Assets 2021: $26,173,310Liabilities 2021: $34,441,822Net Assets 2021: -$8,268,5122021Assets 2022: $18,892,755Liabilities 2022: $12,674,249Net Assets 2022: $6,218,5062022Assets 2023: $18,930,946Liabilities 2023: $11,480,718Net Assets 2023: $7,450,2282023Assets 2024: $21,310,242Liabilities 2024: $12,304,162Net Assets 2024: $9,006,0802024

Highlighted filing

2015

Assets$682,151
Liabilities$480,549
Net Assets$201,602

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2015: $3,242,670Expenses 2015: $3,048,337Net Income 2015: $194,3332015Revenue 2016: $4,566,351Expenses 2016: $4,247,621Net Income 2016: $318,7302016Revenue 2017: $7,167,657Expenses 2017: $8,003,535Net Income 2017: -$835,8782017Revenue 2018: $9,295,702Expenses 2018: $11,208,810Net Income 2018: -$1,913,1082018Revenue 2019: $10,605,140Expenses 2019: $12,531,127Net Income 2019: -$1,925,9872019Revenue 2020: $5,580,202Expenses 2020: $8,305,239Net Income 2020: -$2,725,0372020Revenue 2021: $6,592,453Expenses 2021: $6,924,487Net Income 2021: -$332,0342021Revenue 2022: $23,028,658Expenses 2022: $8,541,640Net Income 2022: $14,487,0182022Revenue 2023: $10,639,716Expenses 2023: $9,407,994Net Income 2023: $1,231,7222023Revenue 2024: $12,131,313Expenses 2024: $10,575,461Net Income 2024: $1,555,8522024

Highlighted filing

2015

Revenue$3,242,670
Expenses$3,048,337
Net Income$194,333
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 4, 2016
Return Version
2014v6.0
Gross Receipts
$3,242,670
Mission and Program Overview

Mission

The mission of knowledge academies (ka) is to prepare students to make the best academic and social choices leading to a successful life connected to college, community, creativity, and culture. Our alumni will graduate college ready and remain connected to their community. Our families will support the development of highly effective student leadership habits.

The mission of knowledge academies (ka) is to prepare students to make the best academic and social choices leading to the completion of a college degree. Our alumni will graduate college ready and remain connected to their community. Our families will support the development of highly effective student leadership habits. Ka is recognized as a national k12 breakthrough model for college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$265,912$284,633▲ $18,721
Land, Buildings, and Equipment, Net$82,407$122,201▲ $39,794
Pledges and Grants Receivable$44,516$72,815▲ $28,299
Prepaid Expenses and Deferred Charges$40,690$35,700▼ $4,990
Total Assets$433,525$682,151▲ $248,626
Other Assets Total$0$166,802▲ $166,802
Liabilities
Other Liabilities$0$294,949▲ $294,949
Accounts Payable and Accrued Expenses$122,978$185,600▲ $62,622
Deferred Revenue$80,959--
Total Liabilities$203,937$480,549▲ $276,612
Net Assets / Fund Balance
Unrestricted Net Assets$229,588$201,602▼ $27,986
Total Net Assets Fund Balance$229,588$201,602▼ $27,986
Total Liabilities and Net Assets / Fund Balance$433,525$682,151▲ $248,626

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$111,819$52,156$163,975
Leasehold Improvements$10,382$2,708$13,090
Other Assets Org$166,802--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Arthur L Fuller JrPresidentFT$76,812$4,188$81,000
Ariel MccallumExec. DirectorFT$70,239$2,032$72,271

Board Members and Trustees

NameTitle
James Bristol JdChairman
Jeff BradfordVice-chair
Colin Cannonier PhdBoard Member
Evangeline Motley-johnson PhdBoard Member
Glenn Hunter MbaBoard Member
Robin DillionBoard Member
Stephen F GrawBoard Member
Tanaka VercherBoard Member
William Carver SphrBoard Member
Scott Schumpert CPAAsst. Treasurer
Jason ReiersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,204,936
Program Service Revenue
$37,734
Investment Income
$0
Other Revenue
$0
All Other Contributions
$86,735
Change in Net Assets
$194,333

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,242,670
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,242,670
Total Revenue per Form 990
$3,242,670
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,871,519
Other Expenses$1,176,818
Total Fundraising Expense$9,269
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,287,868$100,647$6,431$1,394,946
Occupancy$432,151$22,620-$454,771
Other Employee Benefits$149,638$11,695$746$162,079
Current Officers, Directors, Trustees, and Key Employees$141,505$11,059$707$153,271
Payroll Taxes$104,274$8,149$521$112,944
Office Expenses$34,653$33,428$641$68,722
Information Technology$15,360$44,844-$60,204
Pension Plan Contributions$44,573$3,483$223$48,279
Fees for Services Accounting-$47,339-$47,339
Depreciation Depletion$27,328$1,438-$28,766
Fees for Services Other-$27,080-$27,080
Advertising-$20,499-$20,499
Other Expenses$8,656$2,164$0$10,820
Travel-$3,406-$3,406
Total Functional Expenses$2,701,217$337,851$9,269$3,048,337

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,048,337
Total Expenses per Audited Statements$3,048,337
Total Expenses per Form 990$3,048,337
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
Deferred Inflows Related to Pensions$260,049
Net Pension Liability$34,900
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

A draft of the 990 will be sent to the board of directors for approval after the finance advisory team has reviewed.

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

The executive director reviews on a case by case basis. The policy is monitored annually.

Form 990, Part VI, Section B, Line 15

Compensation is determined as part of the charter school review committee evaluation and due diligence process. It is reviewed by the metro nashvile public schools review committee. The process includes a review of the local school district salary schedule for existing and surrounding counties.

Form 990, Part VI, Section C, Line 19

Governing documents, policies, and financial statements are available upon request and academy's website.

Filing and Contact Details

Filer

Filer Name
Knowledge Academies Inc
EIN
27-0547275
Phone
6158006814
Address
5320 HICKORY HOLLOW PKWY STE B, ANTIOCH, TN 37013

Signing Officer

Name
Arthur L Fuller Jr
Title
President
Phone
6158006814
Signed
2016-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Arthur L Fuller Jr
Formed
2009
Legal Domicile
Tn
Voting Board Members
11
Independent Board Members
11
Employees
78
Volunteers
30

Preparer

Firm
Frasier Dean & Howard Pllc
Address
3310 WEST END AVE STE 550, NASHVILLE, TN 37203
Preparer
Sara G Moon
Phone
6153836592
Supplemental Narrative

Additional Explanations

Form 990, Part XI - Line 8

Prior period adjustments - in prior years, the academy was not required to recognize a liability for its defined benefit pension plans. However, with the implementation of gasb statement no. 68, government employers are required to recognize a net pension liability in their statement of net position. Therefore a restatement decreasing the academy's beginning net position by $222,319 has been recognized on the statement of activities.

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22164
IRS990/OtherExpensesGrp/ProgramServicesAmt0244926
IRS990/OtherExpensesGrp/ProgramServicesAmt1210285
IRS990/OtherExpensesGrp/ProgramServicesAmt28656
IRS990/OtherExpensesGrp/TotalAmt0244926
IRS990/OtherExpensesGrp/TotalAmt1210285
IRS990/OtherExpensesGrp/TotalAmt210820
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0294949
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt06431
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0100647
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01287868
IRS990/OtherSalariesAndWagesGrp/TotalAmt01394946
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0521
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08149
IRS990/PayrollTaxesGrp/ProgramServicesAmt0104274
IRS990/PayrollTaxesGrp/TotalAmt0112944
IRS990/PensionPlanContributionsGrp/FundraisingAmt0223
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03483
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt044573
IRS990/PensionPlanContributionsGrp/TotalAmt048279
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt044516
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt072815
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt040690
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt035700
IRS990/PrincipalOfficerNm0ARTHUR L FULLER JR
IRS990/PriorPeriodAdjustmentsAmt0-222319
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0STUDENT FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt037734
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt037734
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02405634
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0964113
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt031955
IRS990/PYRevenuesLessExpensesAmt070602
IRS990/PYSalariesCompEmpBnftPaidAmt01402874
IRS990/PYTotalExpensesAmt02366987
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02437589
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0194333
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt037734
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03048337
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt010382
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02708
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt013090
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0166802
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTFLOWS RELATED TO PENSIONS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0111819
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt052156
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0163975
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt034900
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1260049
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOWS RELATED TO PENSIONS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03242670
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0122201
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0166802
IRS990ScheduleD/TotalExpensesPerForm990Amt03048337
IRS990ScheduleD/TotalLiabilityAmt0294949
IRS990ScheduleD/TotalRevenuePerForm990Amt03242670
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03242670
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03048337
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0OUR NON-DISCRIMINATORY STATEMENT IS POSTED ON OUR WEBSITE ON THE ONLINE STUDENT APPLICATION PAGE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF THE 990 WILL BE SENT TO THE BOARD OF DIRECTORS FOR APPROVAL AFTER THE FINANCE ADVISORY TEAM HAS REVIEWED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR REVIEWS ON A CASE BY CASE BASIS. THE POLICY IS MONITORED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION IS DETERMINED AS PART OF THE CHARTER SCHOOL REVIEW COMMITTEE EVALUATION AND DUE DILIGENCE PROCESS. IT IS REVIEWED BY THE METRO NASHVILE PUBLIC SCHOOLS REVIEW COMMITTEE. THE PROCESS INCLUDES A REVIEW OF THE LOCAL SCHOOL DISTRICT SALARY SCHEDULE FOR EXISTING AND SURROUNDING COUNTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND ACADEMY'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PRIOR PERIOD ADJUSTMENTS - IN PRIOR YEARS, THE ACADEMY WAS NOT REQUIRED TO RECOGNIZE A LIABILITY FOR ITS DEFINED BENEFIT PENSION PLANS. HOWEVER, WITH THE IMPLEMENTATION OF GASB STATEMENT NO. 68, GOVERNMENT EMPLOYERS ARE REQUIRED TO RECOGNIZE A NET PENSION LIABILITY IN THEIR STATEMENT OF NET POSITION. THEREFORE A RESTATEMENT DECREASING THE ACADEMY'S BEGINNING NET POSITION BY $222,319 HAS BEEN RECOGNIZED ON THE STATEMENT OF ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI - LINE 8
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0433525
IRS990/TotalAssetsEOYAmt0682151
IRS990/TotalAssetsGrp/BOYAmt0433525
IRS990/TotalAssetsGrp/EOYAmt0682151
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03204936
IRS990/TotalEmployeeCnt078
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt09269
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0337851
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02701217
IRS990/TotalFunctionalExpensesGrp/TotalAmt03048337
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0203937
IRS990/TotalLiabilitiesEOYAmt0480549
IRS990/TotalLiabilitiesGrp/BOYAmt0203937
IRS990/TotalLiabilitiesGrp/EOYAmt0480549

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