Civic Intelligence

Gary Middle College Inc

990 • Fiscal year 2021 • EIN 27-3510935

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

Organization Profilewww.garymiddlecollege.org
3145 N Meridian StreetIndianapolis, IN 46208

(317) 536-1027

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.15x

Higher debt load relative to assets than 63% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.13x

Higher debt load relative to revenue than 56% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

39th percentile

6.7%

Higher net margin than 39% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

52nd percentile

10%

Faster asset growth than 52% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

24th percentile

-6.2%

Faster revenue growth than 24% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$1,578,659

Up $145,491 (+10%) from 2020

Net Assets

Up

$1,334,902

Up $128,347 (+11%) from 2020

Liabilities

Up

$243,757

Up $17,144 (+7.6%) from 2020

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin39th percentile

Revenue

Down

$1,916,571

Down $126,730 (-6.2%) from 2020

Expenses

Down

$1,788,224

Down $57,348 (-3.1%) from 2020

Net Income

Down

$128,347

Down $69,382 (-35%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $92,333Liabilities 2012: $45,586Net Assets 2012: $46,7472012Assets 2013: $494,488Liabilities 2013: $327,433Net Assets 2013: $167,0552013Assets 2014: $837,333Liabilities 2014: $97,719Net Assets 2014: $739,6142014Assets 2015: $832,709Liabilities 2015: $95,071Net Assets 2015: $737,6382015Assets 2016: $752,568Liabilities 2016: $330,554Net Assets 2016: $422,0142016Assets 2017: $810,613Liabilities 2017: $314,847Net Assets 2017: $495,7662017Assets 2018: $1,004,315Liabilities 2018: $260,832Net Assets 2018: $743,4832018Assets 2020: $1,433,168Liabilities 2020: $226,613Net Assets 2020: $1,206,5552020Assets 2021: $1,578,659Liabilities 2021: $243,757Net Assets 2021: $1,334,9022021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2021

Assets$1,578,659
Liabilities$243,757
Net Assets$1,334,902
Open 2021 Filing

Operations Trend

Revenue Growth24th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $115,184Expenses 2012: $68,437Net Income 2012: $46,7472012Expenses 2013: $1,719,6022013Revenue 2014: $2,231,546Expenses 2014: $1,658,987Net Income 2014: $572,5592014Revenue 2015: $1,670,279Expenses 2015: $1,672,255Net Income 2015: -$1,9762015Revenue 2016: $1,494,060Expenses 2016: $1,809,684Net Income 2016: -$315,6242016Revenue 2017: $1,769,794Expenses 2017: $1,696,042Net Income 2017: $73,7522017Revenue 2018: $1,905,779Expenses 2018: $1,658,062Net Income 2018: $247,7172018Revenue 2020: $2,043,301Expenses 2020: $1,845,572Net Income 2020: $197,7292020Revenue 2021: $1,916,571Expenses 2021: $1,788,224Net Income 2021: $128,3472021Revenue 2022: $0Expenses 2022: $0Net Income 2022: $02022

Highlighted filing

2021

Revenue$1,916,571
Expenses$1,788,224
Net Income$128,347
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$1,937,873
Mission and Program Overview

Mission

Beating Poverty Through Quality Education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$823,757$1,057,813▲ $234,056
Land, Buildings, and Equipment, Net$553,136$461,757▼ $91,379
Pledges and Grants Receivable$36,937$42,075▲ $5,138
Prepaid Expenses and Deferred Charges$19,338$17,014▼ $2,324
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$1,433,168$1,578,659▲ $145,491
Other Assets Total$0$0→ $0
Liabilities
Unsecured Notes Loans Payable$130,000$110,000▼ $20,000
Accounts Payable and Accrued Expenses$85,618$109,511▲ $23,893
Other Liabilities$4,019$19,689▲ $15,670
Deferred Revenue$6,976$4,557▼ $2,419
Total Liabilities$226,613$243,757▲ $17,144
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,206,555$1,334,902▲ $128,347
Total Net Assets Fund Balance$1,206,555$1,334,902▲ $128,347
Total Liabilities and Net Assets / Fund Balance$1,433,168$1,578,659▲ $145,491

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$181,275$565,185$746,460
Buildings$257,402$62,123$319,525
Leasehold Improvements$23,080$146,457$169,537
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
-Board Chair
-Vice Chairman
-Board Member
-School Treasurer
-Secretary/Treasurer
-Superintendent

Highest Paid Contractors

ContractorServicesLocationCompensation
Greater Educational Opportunities FoundationManagement Fees3145 N Meridian Street, Indianapolis, IN 46208$182,957
Revenue and Support

Revenue Composition

Contributions and Grants
$1,443,001
Program Service Revenue
$419,872
Investment Income
$0
Other Revenue
$53,698
Change in Net Assets
$128,347

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,913,439
Revenue Not Reported on Financial Statements
$3,132
Revenue Not Reported on Form 990
$21,302
Other Revenue Adjustments
$3,132
Total Revenue per Audited Statements
$1,934,741
Total Revenue per Form 990
$1,916,571
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$993,554
Other Expenses$794,670
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$794,452--$794,452
Fees for Services Management$15,017$187,091-$202,108
Fees for Services Other$111,972$0$0$111,972
Occupancy$101,453--$101,453
Depreciation Depletion$100,220--$100,220
Other Employee Benefits$91,503--$91,503
Payroll Taxes$59,850--$59,850
Office Expenses$49,897--$49,897
Pension Plan Contributions$47,749--$47,749
Information Technology$32,528--$32,528
Fees for Services Accounting-$25,879-$25,879
All Other Expenses$16,793$0$0$16,793
Travel$15,046--$15,046
Advertising$14,249--$14,249
Insurance$12,567--$12,567
Other Expenses$3,132--$3,132
Interest$2,400--$2,400
Total Functional Expenses$1,575,254$212,970$0$1,788,224

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,806,394
Total Expenses per Form 990$1,788,224
Expenses per Audited Statements$1,785,092
Expenses Not Reported on Form 990$21,302
Expenses Not Reported on Financial Statements$3,132
Other Expense Adjustments$3,132
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Related Organization Payable$19,689
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 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, Line 2 Family/business relationships amongst interested persons

“Dana Johnson Teasley - Family relationship, Kevin Teasley - Family relationship”

Form 990, Part VI, Line 3 Delegation of management duties

“The organization has a management agreement with The Greater Education Opportunities Foundation, Inc. ("GEO") ("95-4406881") to provide management, operation, and administrative services. The compensation of officers, Kevin Teasley and Dana Teasley, is reported on GEO's respective Form 990 filing.”

Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body

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

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The Form 990 is reviewed by the school treasurer, then emailed to the Board for review prior to submission.”

Form 990, Part VI, Line 12C Conflict of interest policy

“All board members annually complete a confidentiality conflict of interest statements. If a conflict arises, it is noted and reviewed by the board to determine if any action needs to be taken. Individuals with conflicts abstain from voting on such matters.”

Form 990, Part VI, Line 19 Required documents available to the public

“Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to internal revenue code (IRC) section 6104. These documents are not available to the public at this time.”

Filing and Contact Details

Filer

Filer Name
Gary Middle College Inc
EIN
27-3510935
Phone
3175361027
Address
3145 N Meridian Street, Indianapolis, IN 46208

Signing Officer

Name
Dana Johnson Teasley
Title
School Treasurer
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
In
Voting Board Members
8
Independent Board Members
8
Employees
19
Volunteers
10

Preparer

Firm
Crowe Llp
Address
9600 Brownsboro Road Suite 400, Louisville, KY 40241-3902
Preparer
Rachel Spurlock
Phone
5023263996
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“The School is exempt from income taxes on income from related activities under Section 501(c)(3) of the U. S. Internal Revenue Code and corresponding state tax law. Accordingly, no provision has been made for federal or state income taxes. Additionally, the School is not considered to be a private foundation under Section 509(a) of the Internal Revenue Code. The School has adopted applicable guidance with respect to accounting for uncertainty in income taxes. A tax position is recognized as a benefit only if it is "more likely than not" that 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 benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit will be recorded. The School does not expect the total amount of unrecorded tax benefits to significantly change in the next 12 months. The School recognizes interest and/or penalties related to income tax matters in income tax expense. The School did not have any amounts accrued for interest and penalties at June 30, 2021 and 2020.”

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

“RENTAL EXPENSES - 21302”

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

“Loss on disposal of fixed assets - 3132”

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

“RENTAL EXPENSES - 21302”

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

“Loss on Disposal of Fixed Assets - 3132”

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IRS990/MissionDesc0Beating Poverty Through Quality Education.
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IRS990/OtherExpensesGrp/Desc0Dues and Fees
IRS990/OtherExpensesGrp/Desc1Textbook Expenses
IRS990/OtherExpensesGrp/Desc2College work
IRS990/OtherExpensesGrp/Desc3Loss on Disposal of Fixed Asset
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IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Kevin Teasley
IRS990/ProfessionalFundraisingInd0false
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt062123
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0181275
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Related Organization Payable
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IRS990ScheduleD/RevenueNotReportedAmt021302
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IRS990ScheduleD/RevenueSubtotalAmt01913439
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is exempt from income taxes on income from related activities under Section 501(c)(3) of the U. S. Internal Revenue Code and corresponding state tax law. Accordingly, no provision has been made for federal or state income taxes. Additionally, the School is not considered to be a private foundation under Section 509(a) of the Internal Revenue Code. The School has adopted applicable guidance with respect to accounting for uncertainty in income taxes. A tax position is recognized as a benefit only if it is "more likely than not" that 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 benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit will be recorded. The School does not expect the total amount of unrecorded tax benefits to significantly change in the next 12 months. The School recognizes interest and/or penalties related to income tax matters in income tax expense. The School did not have any amounts accrued for interest and penalties at June 30, 2021 and 2020.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSES - 21302
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Loss on disposal of fixed assets - 3132
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3RENTAL EXPENSES - 21302
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4Loss on Disposal of Fixed Assets - 3132
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements
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IRS990ScheduleD/TotalExpensesPerForm990Amt01788224
IRS990ScheduleD/TotalLiabilityAmt019689
IRS990ScheduleD/TotalRevenuePerForm990Amt01916571
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01806394
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The racially nondiscriminatory policy is publicized on the website. It is also included in the Student Handbook and is part of the Charter.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Organization receives federal and state grant money to achieve its stated mission. State-Adult Learners State-Basic Grant State-Charter Facilities Grant Federal-Title I Grant Federal-Sped Services (IDEA, Part B)
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Dana Johnson Teasley - Family relationship, Kevin Teasley - Family relationship
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization has a management agreement with The Greater Education Opportunities Foundation, Inc. ("GEO") ("95-4406881") to provide management, operation, and administrative services. The compensation of officers, Kevin Teasley and Dana Teasley, is reported on GEO's respective Form 990 filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization does not have any committees with authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Form 990 is reviewed by the school treasurer, then emailed to the Board for review prior to submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All board members annually complete a confidentiality conflict of interest statements. If a conflict arises, it is noted and reviewed by the board to determine if any action needs to be taken. Individuals with conflicts abstain from voting on such matters.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to internal revenue code (IRC) section 6104. These documents are not available to the public at this time.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2 Family/business relationships amongst interested persons
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 3 Delegation of management duties
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19 Required documents available to the public
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0Greater Educational Opportunities Foundation

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,578,659
Liabilities
$243,757
Net assets
$1,334,902
Revenue
$1,916,571
Expenses
$1,788,224
Net income
$128,347
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$1.58$0.24$1.33$1.92$1.79$0.13
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$0.23$1.21$2.04$1.85$0.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.26$0.74$1.91$1.66$0.25
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.81$0.31$0.50$1.77$1.70$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$0.33$0.42$1.49$1.81$0.32
2015Detailed filing. Detailed filing data is available for this year.$0.83$0.10$0.74$1.67$1.67$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.84$0.10$0.74$2.23$1.66$0.57
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.33$0.17$1.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.05$0.05$0.12$0.07$0.05