Civic Intelligence

Grand River Academy

990 • Fiscal year 2019 • EIN 34-0753533

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 10, 2019

3042 College StreetAustinburg, OH 44010

(440) 275-2811

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.28x

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

78th percentile

0.71x

Higher debt load relative to revenue than 78% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

10th percentile

-29%

Higher net margin than 10% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

72nd percentile

$183,515

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

11th percentile

-8.3%

Faster asset growth than 11% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

10th percentile

-29%

Faster revenue growth than 10% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$8,563,053

Down $771,396 (-8.3%) from 2018

Net Assets

Down

$6,173,132

Down $910,587 (-13%) from 2018

Liabilities

Up

$2,389,921

Up $139,191 (+6.2%) from 2018

Revenue

Down

$3,342,728

Down $1,376,470 (-29%) from 2018

Expenses

Down

$4,310,635

Down $851,913 (-17%) from 2018

Net Income

Down

-$967,907

Down $524,557 (-118%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2014: $8,162,289Liabilities 2014: $2,821,325Net Assets 2014: $5,340,9642014Assets 2015: $8,486,654Liabilities 2015: $2,912,136Net Assets 2015: $5,574,5182015Assets 2016: $10,145,796Liabilities 2016: $2,821,392Net Assets 2016: $7,324,4042016Assets 2017: $10,079,182Liabilities 2017: $2,638,097Net Assets 2017: $7,441,0852017Assets 2018: $9,334,449Liabilities 2018: $2,250,730Net Assets 2018: $7,083,7192018Assets 2019: $8,563,053Liabilities 2019: $2,389,921Net Assets 2019: $6,173,1322019Assets 2020: $8,175,689Liabilities 2020: $2,581,679Net Assets 2020: $5,594,0102020Assets 2021: $8,896,716Liabilities 2021: $2,556,716Net Assets 2021: $6,340,0002021

Highlighted filing

2019

Assets$8,563,053
Liabilities$2,389,921
Net Assets$6,173,132

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $4,572,276Expenses 2014: $4,013,611Net Income 2014: $558,6652014Revenue 2015: $4,543,489Expenses 2015: $4,309,935Net Income 2015: $233,5542015Revenue 2016: $4,813,428Expenses 2016: $4,938,380Net Income 2016: -$124,9522016Revenue 2017: $5,142,765Expenses 2017: $5,146,781Net Income 2017: -$4,0162017Revenue 2018: $4,719,198Expenses 2018: $5,162,548Net Income 2018: -$443,3502018Revenue 2019: $3,342,728Expenses 2019: $4,310,635Net Income 2019: -$967,9072019Revenue 2020: $3,125,332Expenses 2020: $3,698,214Net Income 2020: -$572,8822020Revenue 2021: $3,452,522Expenses 2021: $3,233,635Net Income 2021: $218,8872021

Highlighted filing

2019

Revenue$3,342,728
Expenses$4,310,635
Net Income-$967,907
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 10, 2019
Return Version
2018v3.1
Gross Receipts
$3,342,728
Mission and Program Overview

Mission

To provide quality private secondary education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,383,959$6,150,178▼ $233,781
Investments in Publicly Traded Securities$1,931,285$1,971,846▲ $40,561
Cash and Non-Interest-Bearing Accounts$344,090$273,959▼ $70,131
Accounts Receivable$421,490$95,683▼ $325,807
Inventories for Sale or Use$40,225$37,687▼ $2,538
Prepaid Expenses and Deferred Charges$34,413$18,496▼ $15,917
Savings and Temporary Cash Investments$178,987$15,204▼ $163,783
Total Assets$9,334,449$8,563,053▼ $771,396
Liabilities
Unsecured Notes Loans Payable-$1,000,000-
Deferred Revenue$1,308,513$613,218▼ $695,295
Other Liabilities$607,782$462,025▼ $145,757
Accounts Payable and Accrued Expenses$195,080$168,875▼ $26,205
Mortgage Notes Payable Secured by Investment Property$139,355$145,803▲ $6,448
Total Liabilities$2,250,730$2,389,921▲ $139,191
Net Assets / Fund Balance
Unrestricted Net Assets$6,548,115$5,663,932▼ $884,183
Permanently Rstr Net Assets$522,447$501,522▼ $20,925
Temporarily Rstr Net Assets$13,157$7,678▼ $5,479
Total Net Assets Fund Balance$7,083,719$6,173,132▼ $910,587
Total Liabilities and Net Assets / Fund Balance$9,334,449$8,563,053▼ $771,396

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,099,176$5,566,763$10,665,939
Equipment$104,995$1,490,451$1,595,446
Leasehold Improvements$263,693$705,426$969,119
Land$633,367-$633,367
Other Land Buildings$48,947$95,373$144,320

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$1,901,333---$1,901,333
2017$1,901,333---$1,901,333
2016$1,946,169$1,305▲ $172,059$218,200$1,901,333
2015-$1,875,635▲ $70,534-$1,946,169
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tim OdittHead of School Started JulFT$160,000$23,515$183,515

Board Members and Trustees

NameTitle
Steven SchonemanChair of the Board
Edward G PuhlVice Chairman of the Board
Blair a CampomizziTrustee
Francis GardnerTrustee
Frank EdmondsTrustee
James J AveniTrustee
John DecatoTrustee
Robert FritzTrustee
Sharon TiknisTrustee
Susan BakerTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$154,601
Program Service Revenue
$3,078,992
Investment Income
$43,252
Other Revenue
$65,883
All Other Contributions
$154,601
Change in Net Assets
$-967,907

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,342,728
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$57,320
Total Revenue per Audited Statements
$3,400,048
Total Revenue per Form 990
$3,342,728
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,990,846
Other Expenses$1,692,748
Grants and Similar Amounts Paid$627,041
Total Fundraising Expense$163,544
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,287,846$11,997$46,529$1,346,372
Grants to Domestic Individuals$627,041--$627,041
All Other Expenses$223,302$92,805$19,104$335,211
Depreciation Depletion$285,635$31,022$2,171$318,828
Other Employee Benefits$262,925$34,598$5,483$303,006
Occupancy$155,317$13,507-$168,824
Current Officers, Directors, Trustees, and Key Employees-$160,000-$160,000
Payroll Taxes$111,558$14,940$4,027$130,525
Advertising$9,264$4,632$78,741$92,637
Insurance$84,896$7,385-$92,281
Other Expenses$55,821$11,862$2,093$69,776
Pension Plan Contributions$40,742$8,674$1,527$50,943
Interest$40,537--$40,537
Fees for Services Other$17,272$7,047$3,869$28,188
Total Functional Expenses$3,748,622$398,469$163,544$4,310,635

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,310,635
Total Expenses per Audited Statements$4,310,635
Total Expenses per Form 990$4,310,635
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
Noncurrent$462,025
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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
No

Governance Explanations

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

A copy of form 990 is provided to trustees before it is filed.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, policies and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Grand River Academy
EIN
34-0753533
Phone
4402752811
Address
3042 COLLEGE STREET, AUSTINBURG, OH 44010

Signing Officer

Name
Tim Oditt
Title
Head of School
Phone
4402752811
Signed
2019-12-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Oditt
Formed
1940
Legal Domicile
Oh
Voting Board Members
9
Independent Board Members
9
Employees
64
Volunteers
0

Preparer

Firm
Snodgrass of Ne Ohio Inc
Address
4820 STATE ROAD, ASHTABULA, OH 44004
Preparer
Larry S Johnson
Phone
4409932142
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process used by the organization for committee oversight of the audit has not changed from the prior year.

Financial Statement Notes

PART V, LINE 4:

Scholarship, capital expenditures, program

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IRS990/OtherExpensesGrp/TotalAmt179600
IRS990/OtherExpensesGrp/TotalAmt273430
IRS990/OtherExpensesGrp/TotalAmt369776
IRS990/OtherLiabilitiesGrp/BOYAmt0607782
IRS990/OtherLiabilitiesGrp/EOYAmt0462025
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/ExclusionAmt062223
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt062223
IRS990/OtherRevenueTotalAmt062223
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt046529
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt011997
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01287846
IRS990/OtherSalariesAndWagesGrp/TotalAmt01346372
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt04027
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt014940
IRS990/PayrollTaxesGrp/ProgramServicesAmt0111558
IRS990/PayrollTaxesGrp/TotalAmt0130525
IRS990/PensionPlanContributionsGrp/FundraisingAmt01527
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt08674
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt040742
IRS990/PensionPlanContributionsGrp/TotalAmt050943
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0522447
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0501522
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt034413
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt018496
IRS990/PrincipalOfficerNm0TIM ODITT
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611600
IRS990/ProgramServiceRevenueGrp/BusinessCd3621300
IRS990/ProgramServiceRevenueGrp/BusinessCd4451211
IRS990/ProgramServiceRevenueGrp/Desc0TUITION
IRS990/ProgramServiceRevenueGrp/Desc1STUDENT FEES
IRS990/ProgramServiceRevenueGrp/Desc2SUMMER SCHOOL PROGRAM
IRS990/ProgramServiceRevenueGrp/Desc3COUNSELING
IRS990/ProgramServiceRevenueGrp/Desc4BOOKSTORE-CANTEEN
IRS990/ProgramServiceRevenueGrp/ExclusionAmt049335
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02781477
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1120384
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt269816
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt351500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02781477
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1120384
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt269816
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt351500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt449335
IRS990/ProgSrvcAccomActy2Grp/Desc0BOOKSTORE-CANTEEN FROM WHICH STUDENTS PURCHASE TEXT BOOKS, SCHOOL SUPPLIES, TOILETRIES, FOOD AND GYM & CASUAL CLOTHING
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt024178
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt049335
IRS990/ProgSrvcAccomActy3Grp/Desc0SUMMER SCHOOL PROGRAMS-FIVE WEEK BOARDING/DAY SUMMER SCHOOL ENROLLING 15 STUDENTS ON AVERAGE.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt073430
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt069816
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0202328
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0762975
IRS990/PYInvestmentIncomeAmt043568
IRS990/PYOtherExpensesAmt02223185
IRS990/PYOtherRevenueAmt0113682
IRS990/PYProgramServiceRevenueAmt04359620
IRS990/PYRevenuesLessExpensesAmt0-443350
IRS990/PYSalariesCompEmpBnftPaidAmt02176388
IRS990/PYTotalExpensesAmt05162548
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04719198
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-967907
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt03660
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02910506
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0178987
IRS990/SavingsAndTempCashInvstGrp/EOYAmt015204
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/BuildingsGrp/BookValueAmt05099176
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05566763
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010665939
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01901333
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt01901333
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01901333
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01901333
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01946169
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt01305
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt01901333
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0172059
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0218200
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt01875635
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01946169
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt070534
IRS990ScheduleD/DisclosedForCharitablePrpsInd00
IRS990ScheduleD/DisclosedOrgLegCtrlInd00
IRS990ScheduleD/DonorAdvisedFundsContriAmt0354004
IRS990ScheduleD/DonorAdvisedFundsHeldCnt01
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt0104995
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01490451
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01595446
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04310635
IRS990ScheduleD/LandGrp/BookValueAmt0633367
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0633367
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0263693
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0705426
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0969119
IRS990ScheduleD/NetUnrealizedGainsInvstAmt057320
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt048947
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt095373
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0144320
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0462025
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NONCURRENT
IRS990ScheduleD/RevenueNotReportedAmt057320
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03342728
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIP, CAPITAL EXPENDITURES, PROGRAM
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06150178
IRS990ScheduleD/TotalExpensesPerForm990Amt04310635
IRS990ScheduleD/TotalLiabilityAmt0462025
IRS990ScheduleD/TotalRevenuePerForm990Amt03342728
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03400048
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04310635
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00

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