Civic Intelligence

Knowledge Academies Inc.

990 • Fiscal year 2018 • EIN 27-0547275

Jul 01, 2017 to Jun 30, 2018 • Filed on May 21, 2019

5320 Hickory Hollow Pkwy Ste BAntioch, TN 37013

(615) 800-6814

Siviq Scores

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

Liabilities / Assets

95th percentile

1.09x

Higher debt load relative to assets than 95% of similar nonprofits.

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

Liabilities / Revenue

90th percentile

3.01x

Higher debt load relative to revenue than 90% of similar nonprofits.

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

Net Margin

8th percentile

-21%

Higher net margin than 8% of similar nonprofits.

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

Top Officer Pay

13th percentile

$111,290

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

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

Asset Growth

100th percentile

1822%

Faster asset growth than 100% of similar nonprofits.

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

Revenue Growth

83rd percentile

30%

Faster revenue growth than 83% of similar nonprofits.

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

Assets

Up

$25,795,577

Up $24,453,120 (+1822%) from 2017

Net Assets

Down

-$2,228,654

Down $1,913,108 (-606%) from 2017

Liabilities

Up

$28,024,231

Up $26,366,228 (+1590%) from 2017

Revenue

Up

$9,295,702

Up $2,128,045 (+30%) from 2017

Expenses

Up

$11,208,810

Up $3,205,275 (+40%) from 2017

Net Income

Down

-$1,913,108

Down $1,077,230 (-129%) from 2017

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

2018

Assets$25,795,577
Liabilities$28,024,231
Net Assets-$2,228,654

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

2018

Revenue$9,295,702
Expenses$11,208,810
Net Income-$1,913,108
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 21, 2019
Return Version
2017v2.3
Gross Receipts
$9,295,702
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 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. In 2017, ka was recognized as a change leader for children's wellbeing by the robert wood johnson foundation and ashoka usa. In 2018, ka was recognized by harvard university as an early leader in making caring common.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$461,574$22,741,508▲ $22,279,934
Cash and Non-Interest-Bearing Accounts$13,220$2,075,610▲ $2,062,390
Accounts Receivable$142,620$110,338▼ $32,282
Pledges and Grants Receivable$73,161$74,595▲ $1,434
Prepaid Expenses and Deferred Charges$137,922$60,387▼ $77,535
Total Assets$1,342,457$25,795,577▲ $24,453,120
Other Assets Total$513,960$733,139▲ $219,179
Liabilities
Other Liabilities$519,798$26,574,218▲ $26,054,420
Accounts Payable and Accrued Expenses$568,351$1,179,771▲ $611,420
Mortgage Notes Payable Secured by Investment Property$569,854$270,242▼ $299,612
Total Liabilities$1,658,003$28,024,231▲ $26,366,228
Net Assets / Fund Balance
Temporarily Rstr Net Assets$15,651$1,938,770▲ $1,923,119
Unrestricted Net Assets$-331,197$-4,167,424▼ $3,836,227
Total Net Assets Fund Balance$-315,546$-2,228,654▼ $1,913,108
Total Liabilities and Net Assets / Fund Balance$1,342,457$25,795,577▲ $24,453,120

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,240,139$312,666$19,552,805
Land$2,925,000-$2,925,000
Other Land Buildings$408,773$323,406$732,179
Leasehold Improvements$167,596$34,268$201,864
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Arthur L Fuller JrPresidentFT$102,100$9,190$111,290
Ariel MccallumExec. DirectorFT$52,031-$52,031

Board Members and Trustees

NameTitle
James Bristol JdChairman
Jeff BradfordVice-chair/secretary
Colin Cannonier PhdBoard Member
Evangeline Motley-johnson PhdBoard Member
Glenn Hunter MbaBoard Member
Sam JacksonBoard Member
Stephen F GrawBoard Member
Tanaka VercherBoard Member
Scott Schumpert CPAAsst. Treasurer
Jason ReiersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$8,964,471
Program Service Revenue
$275,886
Investment Income
$0
Other Revenue
$55,345
All Other Contributions
$12,726
Change in Net Assets
$-1,913,108

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,295,702
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$9,295,702
Total Revenue per Form 990
$9,295,702
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,512,588
Other Expenses$4,696,222
Total Fundraising Expense$76,125
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,223,767$669,380$57,011$4,950,158
Interest$860,445$45,287-$905,732
Occupancy$856,999$42,734-$899,733
Other Employee Benefits$599,816$95,058$8,096$702,970
Fees for Services Other$134,249$351,126-$485,375
Depreciation Depletion$446,914$23,522-$470,436
Pension Plan Contributions$331,357$52,513$4,473$388,343
Payroll Taxes$307,727$48,769$4,153$360,649
Information Technology$31,230$187,589-$218,819
Advertising-$192,750-$192,750
Office Expenses$84,827$35,238$1,120$121,185
Current Officers, Directors, Trustees, and Key Employees$94,258$14,938$1,272$110,468
Fees for Services Accounting$17,111$44,754-$61,865
Travel-$17,718-$17,718
Other Expenses$7,483$1,871-$9,354
Total Functional Expenses$9,309,438$1,823,247$76,125$11,208,810

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,208,810
Total Expenses per Audited Statements$11,208,810
Total Expenses per Form 990$11,208,810
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
Bonds Payable$25,870,091
Deferred Inflows Related to Pensions$521,960
Net Pension Liability$182,167

Bond Issues

BondIssuerIssuedIssue PricePurpose
AThe Health and Educational Facilities Board of the Metropolitan Govermnet2017-11-16$25,625,000Purchase of previously leased property and buildings

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$25,625,000--$507,500

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
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

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
James Bristol
Title
Chairman
Phone
6158006814
Signed
2019-05-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Bristol
Formed
2009
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
150
Volunteers
30

Preparer

Firm
Cherry Bekaert Llp
Address
222 SECOND AVE SOUTH STE 1240, NASHVILLE, TN 37201
Preparer
Ryan Blankenship
Phone
6153836592
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE 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.
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IRS990/PrincipalOfficerNm0JAMES BRISTOL
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IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
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IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
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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
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt025625000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0THE HEALTH AND EDUCATIONAL FACILITIES BOARD OF THE METROPOLITAN GOVERMNET
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