Civic Intelligence

Richard Allen Academy III

990 • Fiscal year 2013 • EIN 31-1756854

Jul 01, 2012 to Jun 30, 2013 • Filed on May 06, 2014

368 S Patterson45402
Siviq Scores

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

Liabilities / Assets

99th percentile

2.77x

Higher debt load relative to assets than 99% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2013

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

4th percentile

-31%

Faster asset growth than 4% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Assets

Down

$120,407

Down $54,842 (-31%) from 2012

Net Assets

Down

-$213,069

Down $69,969 (-49%) from 2012

Liabilities

Up

$333,476

Up $15,127 (+4.8%) from 2012

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$1,331,470

Down $65,061 (-4.7%) from 2012

Net Income

-

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.

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2010: $170,837Liabilities 2010: $513,916Net Assets 2010: -$343,0792010Assets 2011: $165,687Liabilities 2011: $346,426Net Assets 2011: -$180,7392011Assets 2012: $175,249Liabilities 2012: $318,349Net Assets 2012: -$143,1002012Assets 2013: $120,407Liabilities 2013: $333,476Net Assets 2013: -$213,0692013Assets 2014: $58,459Liabilities 2014: $295,551Net Assets 2014: -$237,0922014Assets 2015: $75,813Liabilities 2015: $2,752,066Net Assets 2015: -$2,676,2532015Assets 2016: $377,711Liabilities 2016: $2,735,956Net Assets 2016: -$2,358,2452016Assets 2017: $1,021,507Liabilities 2017: $3,311,593Net Assets 2017: -$2,290,0862017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2013

Assets$120,407
Liabilities$333,476
Net Assets-$213,069

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,806,5192010Expenses 2011: $1,329,9392011Expenses 2012: $1,396,5312012Expenses 2013: $1,331,4702013Revenue 2014: $1,615,239Expenses 2014: $1,639,262Net Income 2014: -$24,0232014Revenue 2015: $1,470,020Expenses 2015: $1,649,485Net Income 2015: -$179,4652015Revenue 2016: $1,550,166Expenses 2016: $1,457,990Net Income 2016: $92,1762016Revenue 2017: $1,557,812Expenses 2017: $1,489,653Net Income 2017: $68,1592017Revenue 2018: $0Expenses 2018: $0Net Income 2018: $02018

Highlighted filing

2013

Revenue-
Expenses$1,331,470
Net Income-
Jump To
Filing Snapshot
Filing Period
Jul 1, 2012 to Jun 30, 2013
Signed
May 6, 2014
Return Version
2012v2.1
Gross Receipts
$1,426,445
Mission and Program Overview

Mission

Richard allen schools are committed to educating students in the spirit of the life of the courageous leader, bishop richard allen. Consequently, integral to their intellectual, moral, and social development, richard allen graduates: demonstrate academic proficiency, demonstrate self-discipline and self-reliance, respect the worth and dignity of self and others, embrace responsibility,active citizenry, serve others: especially the disadvantaged, and work to achieve their full potential.

Filing and Contact Details

Filer

EIN
31-1756854
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0THE SCHOOL IS A NON-PROFIT ORGANIZATION THAT HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE TO BE EXEMPT FROM FEDERAL INCOME TAXES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT IS NOT AWARE OF ANY COURSE OF ACTION OR SERIES OF EVENTS THAT HAVE OCCURRED THAT MIGHT ADVERSLY AFFECT THE SCHOOL'S TAX-EXEMPT STATUS.
IRS990ScheduleD/Form990ScheduleDPartXIII/Identifier0DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:
IRS990ScheduleD/Form990ScheduleDPartXIII/ReturnReference0PART X, LINE 2:
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IRS990ScheduleE/Form990ScheduleEPartII/Explanation0THE SCHOOL IS A PUBLIC SCHOOL THAT IS INDEPENDENT OF ANY SCHOOL DISTRICT AS PROVIDED BY THE OHIO REVISED CODE CHAPTERS 3314 AND 1702. AS A PUBLIC SCHOOL, RACIALLY NONDISCRIMINATORY POLICIES ARE MAINTAINED IN OPERATION, AS WELL AS IN SOLICITATION OF STUDENTS.
IRS990ScheduleE/Form990ScheduleEPartII/Explanation1SCHOOL RECEIVES FUNDING FROM THE STATE OF OHIO AS WELL AS THE FEDERAL GOVERNMENT (PASSED THROUGH THE OHIO DEPARTMENT OF EDUCATION) TO PROVIDE FUNDING FOR EDUCATIONAL SERVICES AS WELL AS SPECIFIC EDUCATIONAL GRANT PROGRAMS.
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IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction0JEANETTE HARRIS IS THE MOTHER OF MICHELLE THOMAS, SUPERINTENDENT, AND THE OWNER OF THE INSTITUTE OF CHARTER SCHOOL MANAGEMENT & RESOURCES, INC. (ICSMR) WHICH PROVIDES CONSULTING SERVICES TO THE INSTITUTE OF MANAGEMENT AND RESOURCES, INC. (IMR). JEANETTE HARRIS IS COMPENSATED THROUGH ICSMR AND HER SALARY IS INCLUDED IN THE SERVICES BILLED TO IMR. IMR CHARGES THE ENTITIES LISTED ON SCHEDULE R, PART II FOR THEIR ALLOCATED PORTION OF JEANETTE HARRIS' COMPENSATION. IMR EMPLOYS ALL SCHOOL PERSONNEL AND PAYS VIRTUALLY ALL OTHER SCHOOL OPERATING COSTS. IMR ALLOCATES THE OPERATING COSTS TO EACH SCHOOL, INCLUDING AMOUNTS BILLED TO IT BY ICSMR. JEANETTE HARRIS DOES NOT SERVE AS A DIRECTOR OR OFFICER OF EITHER THE SCHOOL OR IMR.
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IRS990ScheduleL/Form990ScheduleLPartIV/Relationship0MOTHER OF MICHELLE THOMAS, SUPERINTENDENT
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IRS990ScheduleO/GeneralExplanation/Explanation0RICHARD ALLEN ACADEMY III, INC. HAS A MANAGEMENT AGREEMENT WITH THE INSTITUTE OF MANAGEMENT AND RESOURCES, INC. (IMR) WHEREBY IMR OPERATES AND MANAGES THE DAY-TO-DAY OPERATIONS OF THE ACADEMY UNDER THE AUTHORITY OF THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS OF THE ACADEMY RETAIN ULTIMATE AUTHORITY AND RESPONSIBILITY REGARDING THE POWERS, DUTIES, AND RESPONSIBILITIES VESTED IN THE ACADEMY BY THE STATE OF OHIO.
IRS990ScheduleO/GeneralExplanation/Explanation1THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/GeneralExplanation/Explanation2THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT AND THEN REVIEWED BY THE TREASURER OF THE ORGANIZATION PRIOR TO FILING.
IRS990ScheduleO/GeneralExplanation/Explanation3THE CONFLICT OF INTEREST POLICY IS CONSISTENTLY MONITORED AT EACH BOARD MEETING BY REQUIRING EACH BOARD MEMBER TO DISCLOSE ANY CONFLICTS.
IRS990ScheduleO/GeneralExplanation/Explanation4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation5FELIX A. O'AKU PREVIOUSLY SERVED AS TREASURER OF THE ACADEMY AS WELL AS CHIEF FINANCIAL OFFICER OF THE INSTITUTE OF MANAGEMENT AND RESOURCES, INC (IMR). THEREFORE, MR. O'AKU WAS LISTED IN PREVIOUS YEARS ON PART VII OF FORM 990. MR. O'AKU CONTINUES IN HIS ROLE WITH IMR; HOWEVER, THE ACADEMY HAS RETAINED A CONTRACT TREASURER WHO REPORTS DIRECTLY TO THE BOARD OF DIRECTORS. THIS SEPARATION IS INTENDED TO PROVIDE GREATER SEPARATION BETWEEN THE ACADEMY AND IMR AND IMPROVE INTERNAL CONTROLS. AS MR. O'AKU IS NO LONGER DIRECTLY AFFILIATED WITH THE ACADEMY, HE WAS NOT LISTED ON PART VII, FORM 990 FOR THE YEAR ENDED JUNE 30, 2013. NO COMPENSATION WAS LISTED ON PART VII, FORM 990 FOR THE CONTRACT TREASURER AS HIS DUTIES HAD NOT BEGUN BY JUNE 30, 2013.
IRS990ScheduleO/GeneralExplanation/Explanation6THE SCHOOL'S EXPENSES ARE PAID DIRECTLY BY THE INSTITUTE OF MANAGEMENT AND RESOURCES, INC. (IMR). IMR CHARGES THE SCHOOL FOR ITS DIRECT PROGRAMMATIC EXPENSES, AS WELL AS FOR AN ALLOCATED PORTION OF INDIRECT PROGRAMMATIC EXPENSES AND ADMINISTRATIVE COSTS. MANAGEMENT ESTIMATES THAT 80% OF THE CHARGES TO THE SCHOOL RELATE TO PROGRAMMATIC ACTIVITIES AND 20% RELATE TO ADMINISTRATIVE FUNCTIONS. NEITHER THE SCHOOL NOR IMR PERFORM ANY CHARITABLE FUNDRAISING ACTIVITIES. ACCORDINGLY, NO FUNDRAISING EXPENSES ARE REPORTED ON FORM 990, PART IX.
IRS990ScheduleO/GeneralExplanation/Explanation7THE SCHOOL HAS A MANAGEMENT AGREEMENT WITH THE INSTITUTE OF MANAGEMENT AND RESOURCES, INC (IMR) TO PERFORM THE FUNCTIONS REASONABLY REQUIRED TO MANAGE THE OPERATION OF THE SCHOOL. THE SCHOOL REIMBURSES IMR EVERY PAY-PERIOD FOR THE GROSS PAYROLL EXPENSE OF THE CONTRACT EMPLOYEES WORKING AT THE SCHOOL AND MONTHLY FOR THE RELATED COST OF THE BENEFITS OFFERED TO THESE EMPLOYEES. FOR FISCAL YEAR 2012-2013, THE EXPENSE RELATED TO CONTRACTUAL EMPLOYEES WAS $876,524 FOR WAGES AND $48,733 FOR BENEFITS.
IRS990ScheduleO/GeneralExplanation/Explanation8THE BOARD, SUPERINTENDENT, AND TREASURER OF RICHARD ALLEN ACADEMY III SERVE IN THE SAME CAPACITY FOR RICHARD ALLEN PREPATORY, RICHARD ALLEN ACADEMY, AND RICHARD ALLEN ACADEMY II COMMUNITY SCHOOLS, ALL OF WHICH ARE MANAGED BY THE INSTITUTE OF MANAGEMENT AND RESOURCES, INC. (IMR). THE SUPERINTENDENT IS AN EMPLOYEE OF IMR. THE EMPLOYMENT COSTS ASSOCIATED WITH THIS OFFICER ARE ALLOCATED BETWEEN THE RICHARD ALLEN SCHOOLS.
IRS990ScheduleO/GeneralExplanation/Explanation9THE JUNE 30, 2013 FINANCIAL STATEMENTS WERE PREPARED BY MANAGEMENT. THESE FINANCIAL STATEMENTS ARE SUBJECT TO ANNUAL AUDIT BY THE OHIO AUDITOR OF STATE. THE OHIO AUDITOR OF THE STATE HAD NOT YET ISSUED ITS REPORT ON THESE FINANCIAL STATEMENTS AT THE TIME THE JUNE 30, 2013 FORM 990 WAS PREPARED. THE AMOUNTS REPORTED IN PARTS VIII, IX AND X ARE THE REPRESENTATION OF MANAGEMENT AND HAVE NOT BEEN AUDITED OR REVIEWED BY EITHER THE OHIO AUDITOR OF STATE OR ANY INDEPENDENT ACCOUNTING FIRM. THE RICHARD ALLEN ACADEMY III WAS INCLUDED IN A SPECIAL AUDIT CONDUCTED BY THE AUDITOR OF THE STATE OF OHIO. THIS SPECIAL AUDIT REPORT DATED DECEMBER 5, 2011 COVERED THE TWO YEAR PERIOD JULY 1, 2008 THROUGH JUNE 30, 2010. SEVERAL FINDINGS FOR RECOVERY DUE FROM THE INSTITUTE OF MANAGEMENT AND RESOURCES, INC., THE INSTITUTE OF CHARTER SCHOOL MANAGEMENT AND RESOURCES, INC., OFFICERS, BOARD MEMBERS, AND FORMER EMPLOYEES OF THE RELATED MANAGEMENT COMPANIES WERE IDENTIFIED IN THE AUDIT REPORT. THE OHIO AUDITOR OF STATE ALSO SUBSEQUENTLY ISSUED REPORTS DATED OCTOBER 26, 2012 AND AUGUST 28, 2013 ON THE REGULAR AUDIT OF THE JUNE 30, 2011 JUNE 30, 2012 FINANCIAL STATEMENTS, RESPECTIVELY OF RICHARD ALLEN ACADEMY III. THESE REPORTS ALSO CONTAIN VARIOUS NONCOMPLIANCE CITATIONS AND FINDINGS FOR RECOVERY. MANAGEMENT OF RICHARD ALLEN ACADEMY III AND THE AUDITOR OF THE STATE OF OHIO ARE IN DISAGREEMENT REGARDING CERTAIN OF THE AFOREMENTIONED FINDINGS FOR RECOVERY. ON OCTOBER 12, 2012, THE INSTITUTE OF MANAGEMENT AND RESOURCES, INC. (IMR), THE MANAGEMENT COMPANY OF THE SCHOOL, FILED A COMPLAINT FOR DECLARATORY JUDGMENT AND INJUNCTIVE RELIEF AGAINST THE SCHOOL, AS WELL AS THE AUDITOR OF STATE AND ATTORNEY GENERAL REGARDING THESE FINDINGS. BECAUSE THE AUDITOR AND ATTORNEY GENERAL ARE ACTING ON BEHALF OF THE SCHOOL STATUTORILY, THE SCHOOL IS AN INDISPENSABLE PARTY TO THE LITIGATION. THIS TRIAL IS CURRENTLY SCHEDULED FOR JUNE 2014. THE OUTCOME OF THIS CASE COULD HAVE A MATERIAL IMPACT ON FINANCIAL STATEMENTS OF THE SCHOOL, THE EXACT AMOUNT OF WHICH IS NOT KNOWN AT THIS TIME. THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30, 2013, USED TO PREPARE THE FORM 990, DO NOT INCLUDE ANY ADJUSTMENTS RESULTING FROM DISPUTED AUDIT FINDINGS INCLUDED IN THE OHIO AUDITOR OF STATE'S SPECIAL AUDIT OR THE REGULAR AUDIT OF THE SCHOOL'S JUNE 30, 2012 FINANCIAL STATEMENTS. THE IMPACT OF ANY RECOVERY RELATED TO THESE AUDIT FINDINGS CANNOT YET BE REASONABLY DETERMINED. THE REPORTS ISSUED BY THE AUDITOR OF STATE CAN BE ACCESSED BY THE PUBLIC THROUGH THE AUDITOR OF STATE'S WEBSITE.
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VII, SECTION A:
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART IX:
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PART I, LINE 5 & PART V, LINE 2:
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990, SECTION A, COLUMN F:
IRS990ScheduleO/GeneralExplanation/ReturnReference9FORM 990, PART XI, LINE 2B:
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