Civic Intelligence

Indiana Math & Science Academy North Indianapolis Inc

990 • Fiscal year 2022 • EIN 27-2184783

Jul 01, 2021 to Jun 30, 2022 • Filed on Jan 09, 2023

Organization ProfileWWW.IMSAINDY.ORG
7435 N Keystone AveIndianapolis, IN 46240

(317) 259-7300

Siviq Scores

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

Liabilities / Assets

90th percentile

0.88x

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

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

85th percentile

1.44x

Higher debt load relative to revenue than 85% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

41st percentile

3.0%

Higher net margin than 41% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

99th percentile

550%

Faster asset growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

50th percentile

4.2%

Faster revenue growth than 50% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$15,463,931

Up $13,085,011 (+550%) from 2021

Net Assets

Up

$1,789,209

Up $289,089 (+19%) from 2021

Liabilities

Up

$13,674,722

Up $12,795,922 (+1456%) from 2021

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin41st percentile

Revenue

Up

$9,488,343

Up $379,863 (+4.2%) from 2021

Expenses

Up

$9,199,254

Up $1,273,085 (+16%) from 2021

Net Income

Down

$289,089

Down $893,222 (-76%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$20M$15M$10M$5.0M$0Assets 2016: $1,187,605Liabilities 2016: $514,552Net Assets 2016: $673,0532016Assets 2017: $707,432Liabilities 2017: $419,078Net Assets 2017: $288,3542017Assets 2018: $728,119Liabilities 2018: $573,270Net Assets 2018: $154,8492018Assets 2019: $855,306Liabilities 2019: $670,660Net Assets 2019: $184,6462019Assets 2020: $1,925,091Liabilities 2020: $1,607,282Net Assets 2020: $317,8092020Assets 2021: $2,378,920Liabilities 2021: $878,800Net Assets 2021: $1,500,1202021Assets 2022: $15,463,931Liabilities 2022: $13,674,722Net Assets 2022: $1,789,2092022Assets 2023: $16,139,374Liabilities 2023: $14,008,456Net Assets 2023: $2,130,9182023Assets 2024: $16,146,470Liabilities 2024: $14,081,303Net Assets 2024: $2,065,1672024Assets 2025: $15,608,854Liabilities 2025: $13,528,378Net Assets 2025: $2,080,4762025

Highlighted filing

2022

Assets$15,463,931
Liabilities$13,674,722
Net Assets$1,789,209
Open 2022 Filing

Operations Trend

Revenue Growth50th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2016: $6,339,209Expenses 2016: $6,135,869Net Income 2016: $203,3402016Revenue 2017: $5,720,617Expenses 2017: $6,105,316Net Income 2017: -$384,6992017Revenue 2018: $6,100,631Expenses 2018: $6,234,136Net Income 2018: -$133,5052018Revenue 2019: $6,569,890Expenses 2019: $6,540,093Net Income 2019: $29,7972019Revenue 2020: $7,097,631Expenses 2020: $6,964,468Net Income 2020: $133,1632020Revenue 2021: $9,108,480Expenses 2021: $7,926,169Net Income 2021: $1,182,3112021Revenue 2022: $9,488,343Expenses 2022: $9,199,254Net Income 2022: $289,0892022Revenue 2023: $10,259,590Expenses 2023: $9,917,881Net Income 2023: $341,7092023Revenue 2024: $10,381,496Expenses 2024: $10,447,247Net Income 2024: -$65,7512024Revenue 2025: $10,130,802Expenses 2025: $10,115,493Net Income 2025: $15,3092025

Highlighted filing

2022

Revenue$9,488,343
Expenses$9,199,254
Net Income$289,089
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Jan 9, 2023
Return Version
2021v4.2
Gross Receipts
$9,488,343
Mission and Program Overview

Mission

To prepare students for college by creating an effective learning community of higher standards and expectations with a rigorous curriculum focusing on science, math, and technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$116,785$9,636,311▲ $9,519,526
Cash and Non-Interest-Bearing Accounts$1,900,515$4,819,134▲ $2,918,619
Pledges and Grants Receivable$361,620$528,511▲ $166,891
Intangible Assets-$472,618-
Prepaid Expenses and Deferred Charges-$7,357-
Total Assets$2,378,920$15,463,931▲ $13,085,011
Liabilities
Tax Exempt Bond Liabilities-$12,910,000-
Accounts Payable and Accrued Expenses$797,725$669,576▼ $128,149
Other Liabilities$65,783$84,051▲ $18,268
Deferred Revenue$15,292$11,095▼ $4,197
Total Liabilities$878,800$13,674,722▲ $12,795,922
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,500,120$1,789,209▲ $289,089
Total Net Assets Fund Balance$1,500,120$1,789,209▲ $289,089
Total Liabilities and Net Assets / Fund Balance$2,378,920$15,463,931▲ $13,085,011

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,530,105$19,895$9,550,000
Equipment$56,883$126,716$183,599
Leasehold Improvements$49,323$65,377$114,700
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Bernice Valentine-wattsAcd. Excellence Chair
David CoatsBoard Chair
Toby MillerFinance Chair
Jim SparksVice Board Chair
Charise FrazierMember
Daniel PiersonMember
Jerriann McfarlandMember
Murat GonulalanMember
Nikola ColemanMember

Highest Paid Contractors

ContractorServicesLocationCompensation
Exp Learning & Entre Foundation INCLandlord2335 TREESDALE CIRCLE, Carmel, IN 46032$888,515
Visionary School TrustHealth, Dental And Other Medical Service1336 BASSWOOD RD, Schaumburg, IL 60173$492,775
Miller TransportationTransportation111 OUTER LOOP, Louisville, KY 40214$454,866
Lion Building CareCleaning Company1033 3RD AVE SW SUITE 209, Carmel, IN 46032$112,719
Revenue and Support

Revenue Composition

Contributions and Grants
$9,387,023
Program Service Revenue
$13,176
Investment Income
$648
Other Revenue
$87,496
All Other Contributions
$2,068
Change in Net Assets
$289,089

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,488,343
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$9,488,343
Total Revenue per Form 990
$9,488,343
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,304,730
Other Expenses$3,894,524
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,526,281$888,264-$4,414,545
Occupancy$1,011,547--$1,011,547
Fees for Services Management-$672,960-$672,960
Pension Plan Contributions$230,236$79,876-$310,112
Payroll Taxes$233,460$65,769-$299,229
Other Employee Benefits$231,837$49,007-$280,844
Fees for Services Other$190,279$50,196-$240,475
Information Technology$215,948--$215,948
Office Expenses$136,839$19,345-$156,184
All Other Expenses$87,310$6,752-$94,062
Other Expenses$63,364$3,260-$66,624
Depreciation Depletion$66,271--$66,271
Insurance$51,074--$51,074
Advertising-$36,064-$36,064
Fees for Services Accounting-$23,950-$23,950
Travel$7,300--$7,300
Fees for Services Legal-$4,617-$4,617
Total Functional Expenses$7,299,194$1,900,060$0$9,199,254

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,199,254
Total Expenses per Audited Statements$9,199,254
Total Expenses per Form 990$9,199,254
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliated Entity$84,051

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIndiana Finance Authority2022-06-09$12,625,000Finance the purchase and renovation of its building
BIndiana Finance Authority2022-06-07$285,000Finance the purchase and renovation of its building

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$12,625,000--$250,000
B$285,000--$285,000

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
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization has contracted with concept schools, inc. To provide educational, administrative, and management services.”

Form 990, Part VI, Section A, Line 8B

“The organization did not have committees with the authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is provided to each member of the board of directors for review and comment prior to filing.”

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

“Members of the board of directors are not required to submit an annual disclosure of interests document; however, members are required to disclose any matters involving a potential conflict at the time that the matter arises. At board of directors meetings, any potential conflicts with an issue at hand are presented and discussed. The party in conflict is precluded from advocating for the action to be taken and from voting on the matter. The board minutes report the nature of the conflict and its resolution.”

Form 990, Part VI, Section B, Line 15

“The organization is managed by concept schools, inc. And as such does not directly employ a ceo, executive director, or other executive personnel. The compensation of school employees is determined by reference to industry norms and approved by the board of directors.”

Form 990, Part VI, Section C, Line 19

“All governing documents are available for public inspection and may be obtained upon request of the organization's business manager. In addition, board meetings are open to the public whereby any inquiries will be addressed.”

Filing and Contact Details

Filer

Filer Name
Indiana Math & Science Academy North
EIN
27-2184783
Phone
3172597300
Address
7435 N KEYSTONE AVE, INDIANAPOLIS, IN 46240

Signing Officer

Name
Jim Sparks
Title
Chairman
Phone
3172597300
Signed
2023-01-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Sparks
Formed
2010
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
154
Volunteers
43

Preparer

Firm
Donovan Pc
Address
5151 E US HWY 36, AVON, IN 46123
Preparer
Rex E Miller CPA Cgma
Phone
3177456411
Supplemental Narrative

Additional Explanations

Part XII Line 2C

“The organization did not change either its oversight process or its selection process during the year.”

Financial Statement Notes

PART X, LINE 2:

“Professional accounting standards require the school to recognize a tax liability only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax liability that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likelythan-not test, no tax liability is recorded. The school has examined this issue and has determined there are no material contingent tax liabilities or questionable tax positions. Tax years ended after june 30, 2018 are open to audit for both federal and state purposes.”

Raw XML AppendixShowing 400 of 581 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/Desc0THE ORGANIZATION PROVIDES 185 DAYS OF EDUCATIONAL INSTRUCTION TO APPROXIMATELY 680 STUDENTS IN GRADES KINDERGARTEN THROUGH TWELVE, WITH A FOCUS ON SCIENCE, MATHEMATICS, AND TECHNOLOGY. AS A SCHOOL, WE PROVIDE 40 DIFFERENT CLUB ACTIVITIES, IN WHICH 80% OF THE STUDENTS PARTICIPATE. THE SCHOOL ALSO SUPPORTS SOCIAL SKILLS AND EXPANSION OF KNOWLEDGE THROUGH VARIOUS FIELDTRIP ACTIVITIES.
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IRS990/GrossRentsGrp/RealAmt010540
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ProgramServicesAmt0215948
IRS990/InformationTechnologyGrp/TotalAmt0215948
IRS990/InsuranceGrp/ProgramServicesAmt051074
IRS990/InsuranceGrp/TotalAmt051074
IRS990/IntangibleAssetsGrp/EOYAmt0472618
IRS990/InvestmentIncomeGrp/ExclusionAmt0648
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0648
IRS990/InvestmentInJointVentureInd00
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt025
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0211988
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0116785
IRS990/LandBldgEquipBasisNetGrp/EOYAmt09636311
IRS990/LandBldgEquipCostOrOtherBssAmt09848299
IRS990/LegalDomicileStateCd0IN
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PREPARE STUDENTS FOR COLLEGE BY CREATING AN EFFECTIVE LEARNING COMMUNITY OF HIGHER STANDARDS AND EXPECTATIONS WITH A RIGOROUS CURRICULUM FOCUSING ON SCIENCE, MATH, AND TECHNOLOGY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01500120
IRS990/NetAssetsOrFundBalancesEOYAmt01789209
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt010540
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt010540
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01500120
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01789209
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt01011547
IRS990/OccupancyGrp/TotalAmt01011547
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt019345
IRS990/OfficeExpensesGrp/ProgramServicesAmt0136839
IRS990/OfficeExpensesGrp/TotalAmt0156184
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt049007
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0231837
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0280844
IRS990/OtherExpensesGrp/Desc0STUDENT TRANSPORTATION
IRS990/OtherExpensesGrp/Desc1FOOD SERVICE
IRS990/OtherExpensesGrp/Desc2TEXTBOOKS
IRS990/OtherExpensesGrp/Desc3STAFF DEVELOPMENT AND R
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03260
IRS990/OtherExpensesGrp/ProgramServicesAmt0764375
IRS990/OtherExpensesGrp/ProgramServicesAmt1359154
IRS990/OtherExpensesGrp/ProgramServicesAmt2123919
IRS990/OtherExpensesGrp/ProgramServicesAmt363364
IRS990/OtherExpensesGrp/TotalAmt0764375
IRS990/OtherExpensesGrp/TotalAmt1359154
IRS990/OtherExpensesGrp/TotalAmt2123919
IRS990/OtherExpensesGrp/TotalAmt366624
IRS990/OtherLiabilitiesGrp/BOYAmt065783
IRS990/OtherLiabilitiesGrp/EOYAmt084051
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0REFUNDS/OVERPAYMENTS
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt049106
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt127850
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt049106
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt127850
IRS990/OtherRevenueTotalAmt076956
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0888264
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt03526281
IRS990/OtherSalariesAndWagesGrp/TotalAmt04414545
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt065769
IRS990/PayrollTaxesGrp/ProgramServicesAmt0233460
IRS990/PayrollTaxesGrp/TotalAmt0299229
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt079876
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0230236
IRS990/PensionPlanContributionsGrp/TotalAmt0310112
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0361620
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0528511
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt07357
IRS990/PrincipalOfficerNm0JIM SPARKS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt013176
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt013176
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt09007614
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0385
IRS990/PYOtherExpensesAmt03222976
IRS990/PYOtherRevenueAmt090868
IRS990/PYProgramServiceRevenueAmt09613
IRS990/PYRevenuesLessExpensesAmt01182311
IRS990/PYSalariesCompEmpBnftPaidAmt04703193
IRS990/PYTotalExpensesAmt07926169
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt09108480
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0289089
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt010540
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt013176
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt09530105
IRS990ScheduleD/BuildingsGrp/DepreciationAmt019895
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09550000
IRS990ScheduleD/EquipmentGrp/BookValueAmt056883
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0126716
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0183599
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt09199254
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt049323
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt065377
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0114700
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt084051
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATED ENTITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt09488343
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PROFESSIONAL ACCOUNTING STANDARDS REQUIRE THE SCHOOL TO RECOGNIZE A TAX LIABILITY ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX LIABILITY THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELYTHAN-NOT TEST, NO TAX LIABILITY IS RECORDED. THE SCHOOL HAS EXAMINED THIS ISSUE AND HAS DETERMINED THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. TAX YEARS ENDED AFTER JUNE 30, 2018 ARE OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09636311
IRS990ScheduleD/TotalExpensesPerForm990Amt09199254
IRS990ScheduleD/TotalLiabilityAmt084051
IRS990ScheduleD/TotalRevenuePerForm990Amt09488343
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09488343
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09199254
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/ExplanationTxt0ENROLLMENT APPLICATIONS ARE PROVIDED ONLINE AT WWW.IMSAINDY.ORG. THE ADMISSION POLICY CLEARLY STATES THAT ENROLLMENT IS OPEN TO ALL STUDENTS ON A SPACE AVAILABLE BASIS AND THAT THE SCHOOL DOES NOT DISCRIMINATE IN ANY MANNER.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVES STATE FUNDS UNDER THE INDIANA CHARTER SCHOOL ACT (INDIANA CODE 20-24). THE ORGANIZATION ALSO RECEIVES FEDERAL FUNDS UNDER GRANTS FOR INSTRUCTION AND SCHOOL LUNCHES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd1B
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd11
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd11
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd10
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd10
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02022-06-09
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12022-06-07
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0351602316
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN1351602316
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,463,931
Liabilities
$13,674,722
Net assets
$1,789,209
Revenue
$9,488,343
Expenses
$9,199,254
Net income
$289,089
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$15.6$13.5$2.08$10.1$10.1$0.02
2024Detailed filing. Detailed filing data is available for this year.$16.1$14.1$2.07$10.4$10.4$0.07
2023Detailed filing. Detailed filing data is available for this year.$16.1$14.0$2.13$10.3$9.92$0.34
2022Detailed filing. Detailed filing data is available for this year.$15.5$13.7$1.79$9.49$9.20$0.29
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.38$0.88$1.50$9.11$7.93$1.18
2020Detailed filing. Detailed filing data is available for this year.$1.93$1.61$0.32$7.10$6.96$0.13
2019Detailed filing. Detailed filing data is available for this year.$0.86$0.67$0.18$6.57$6.54$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.73$0.57$0.15$6.10$6.23$0.13
2017Detailed filing. Detailed filing data is available for this year.$0.71$0.42$0.29$5.72$6.11$0.38
2016Detailed filing. Detailed filing data is available for this year.$1.19$0.51$0.67$6.34$6.14$0.20