Civic Intelligence

Freedom Academy Inc.

990 • Fiscal year 2020 • EIN 35-1935362

Jan 01, 2020 to Dec 31, 2020 • Filed on May 11, 2021

PO Box 515Kendallville, IN 46755

(260) 347-0887

Siviq Scores

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

Liabilities / Assets

65th percentile

0.15x

Higher debt load relative to assets than 65% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

59th percentile

0.11x

Higher debt load relative to revenue than 59% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

25th percentile

-8.9%

Higher net margin than 25% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

91st percentile

$122,425

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Assets

$689,160

No earlier filing loaded for comparison.

Net Assets

$588,453

No earlier filing loaded for comparison.

Liabilities

$100,707

No earlier filing loaded for comparison.

Revenue

$909,456

No earlier filing loaded for comparison.

Expenses

$990,382

No earlier filing loaded for comparison.

Net Income

-$80,926

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.

$2.0M$1.5M$1.0M$500K$0Assets 2020: $689,160Liabilities 2020: $100,707Net Assets 2020: $588,4532020Assets 2021: $1,529,780Liabilities 2021: $53,966Net Assets 2021: $1,475,8142021Assets 2022: $938,812Liabilities 2022: $51,586Net Assets 2022: $887,2262022Assets 2023: $801,995Liabilities 2023: $43,349Net Assets 2023: $758,6462023Assets 2024: $862,283Liabilities 2024: $45,170Net Assets 2024: $817,1132024

Highlighted filing

2020

Assets$689,160
Liabilities$100,707
Net Assets$588,453

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2020: $909,456Expenses 2020: $990,382Net Income 2020: -$80,9262020Revenue 2021: $2,030,669Expenses 2021: $1,163,327Net Income 2021: $867,3422021Revenue 2022: $694,620Expenses 2022: $1,224,061Net Income 2022: -$529,4412022Revenue 2023: $1,132,376Expenses 2023: $1,286,073Net Income 2023: -$153,6972023Revenue 2024: $1,316,132Expenses 2024: $1,271,878Net Income 2024: $44,2542024

Highlighted filing

2020

Revenue$909,456
Expenses$990,382
Net Income-$80,926
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 11, 2021
Return Version
2020v4.0
Gross Receipts
$909,456
Mission and Program Overview

Mission

To enhance the quality of life for those who are willing to enrich their education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$646,524$588,453▼ $58,071
Accounts Receivable$113,447$269,488▲ $156,041
Savings and Temporary Cash Investments$307,231$121,692▼ $185,539
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Total Assets$689,218$689,160▼ $58
Other Assets Total$268,340$297,780▲ $29,440
Liabilities
Unsecured Notes Loans Payable-$74,100-
Accounts Payable and Accrued Expenses$42,694$26,607▼ $16,087
Total Liabilities$42,694$100,707▲ $58,013
Net Assets / Fund Balance
Total Net Assets Fund Balance$646,524$588,453▼ $58,071
Total Liabilities and Net Assets / Fund Balance$689,218$689,160▼ $58

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$297,780--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Melissa CarpenterExecutive DiFT$106,178$16,247$122,425

Board Members and Trustees

NameTitle
Erica DekkoPresident
Tracey TiptonBoard Member
Gary GatmanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,177
Program Service Revenue
$897,889
Investment Income
$10,253
Other Revenue
$137
All Other Contributions
$1,177
Change in Net Assets
$-80,926
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$575,362
Salaries, Compensation, and Employee Benefits$414,123
Grants and Similar Amounts Paid$897
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$262,330--$262,330
Other Salaries and Wages$174,550$43,638-$218,188
Current Officers, Directors, Trustees, and Key Employees-$106,178-$106,178
Travel$38,773$8,165-$46,938
Other Employee Benefits$29,940$15,521-$45,461
Payroll Taxes$12,698$11,026-$23,724
Royalties$14,899$6,475-$21,374
Pension Plan Contributions$10,089$10,483-$20,572
Information Technology$13,994$2,734-$16,728
Insurance$9,651$2,745-$12,396
Other Expenses$16,715$8,314-$8,314
Office Expenses$7,622--$7,622
Payment Travel Entrtnmnt Publicly Ofcl$6,029$1,507-$7,536
All Other Expenses-$3,195-$3,195
Fees for Services Management-$1,700-$1,700
Grants to Domestic Individuals$897--$897
Interest-$506-$506
Conferences and Meetings-$327-$327
Total Functional Expenses$767,868$222,514$0$990,382
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Edd PropertiesRent of PropertyNo$19,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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

- line 2 erica dekko is the secretary of the board of directors for the dekko foundation, inc. (tid 35-1528135). The dekko foundation, inc., is a major funder of the freedom academy, inc. (tid 35-1935362). The freedom academy, inc., was established by the founder of the dekko foundation, inc., who wanted to educate adults in local communities to make them greater assets to their employers and promote economic freedom through education.

Form 990, Page 6, Part VI, Line 2

Dekko foundation secretary

Form 990, Page 6, Part VI, Line 11B

The process freedom academy uses to review form 990 annually: 1. Form 990 document is compiled by controller and director. 2. Director presents copy to each governing board member at either february or april board meeting (prior to filing date of may 15). 3. Each board member is able to review and comment on the form's content. A vote is taken to approve the form 990 before filing.

Form 990, Page 6, Part VI, Line 12C

The conflict of interest statement is distributed at the first meeting of the board of directors each fiscal year. All board members (including teens on the board) are required to disclose any information that would give rise to conflict. In addition, the executive director and all staff members are required to disclose information on the conflict of interest form annually. These forms are kept on file in the director's office with copies to the controller for record retention. Any member with a conflict of interest is not allowed to speak on behalf of the conflict or vote on any item involving the conflict.

Form 990, Page 6, Part VI, Line 15B

The hiring process for executive director (key employees) is such that: upon resignation or termination of the organizations' executive director (key employees), the board of directors would assign a committee to begin the hiring process for a new executive director (key employees). The process would look like this: 1. Form committee 2. Advertise, seek referrals 3. Interviews conducted in one on one and then group setting for director position. For staff, team interviews have been implemented. 4. Committee determines wage range and salary package. 5. Board of directors vote to approve wage and benefits package for new hire.

Form 990, Page 6, Part VI, Line 19

Copies are made available upon request of the governing documents, conflicts of interest policy, financial statements, and the 990 tax return.

Filing and Contact Details

Filer

Filer Name
Freedom Academy Inc
EIN
35-1935362
Phone
2603470887
Address
PO BOX 515, KENDALLVILLE, IN 46755

Signing Officer

Name
Melissa Carpenter
Title
Executive Director
Phone
2603470887
Signed
2021-05-11

Organization Details

Principal Officer
Melissa Carpenter
Formed
1994
Legal Domicile
In
Voting Board Members
3
Independent Board Members
3
Employees
12

Preparer

Firm
Butler CPA LLC
Address
733 E NORTH ST, KENDALLVILLE, IN 46755
Preparer
Carla B Butler
Phone
2603470475
Supplemental Narrative

Additional Explanations

Form 990

Part ix - line 11g instructors for the classes are independent contractors. They are professionals in the area that they teach. They are interviewed and selected by the freedom academy staff. They are responsible for carrying out the course curriculum and insuring that the students are progressing in the classes and prepared for all required testing for certification or licensing. Total contracted cost for classes in 2020 was 262,330.

Form 990, Page 2, Part III, Line 4A

The organization was established to address the work force and continuing educational needs of the community by providing the necessary training to those individuals who have not had the opportunity to attend a traditional college or technical school. Progam costs incurred with respect to the following classes and number of students served: total served: 390 health/medical - 173 technical - 41 leadership/management - 37 quality - 17 maintenance - 51 safety - 19 tutoring - 52

Form 990, Part IX, Line 11G

262,330 0 0

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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0EDD PROPERTIES, LLP PARTNERSHIP 50/50 OWNED BY (1) ERICA DEKKO BOARD PRESIDENT AND (2) ERLENE DEKKO FAMILY MEMBER
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PART IX - LINE 11G INSTRUCTORS FOR THE CLASSES ARE INDEPENDENT CONTRACTORS. THEY ARE PROFESSIONALS IN THE AREA THAT THEY TEACH. THEY ARE INTERVIEWED AND SELECTED BY THE FREEDOM ACADEMY STAFF. THEY ARE RESPONSIBLE FOR CARRYING OUT THE COURSE CURRICULUM AND INSURING THAT THE STUDENTS ARE PROGRESSING IN THE CLASSES AND PREPARED FOR ALL REQUIRED TESTING FOR CERTIFICATION OR LICENSING. TOTAL CONTRACTED COST FOR CLASSES IN 2020 WAS 262,330.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION WAS ESTABLISHED TO ADDRESS THE WORK FORCE AND CONTINUING EDUCATIONAL NEEDS OF THE COMMUNITY BY PROVIDING THE NECESSARY TRAINING TO THOSE INDIVIDUALS WHO HAVE NOT HAD THE OPPORTUNITY TO ATTEND A TRADITIONAL COLLEGE OR TECHNICAL SCHOOL. PROGAM COSTS INCURRED WITH RESPECT TO THE FOLLOWING CLASSES AND NUMBER OF STUDENTS SERVED: TOTAL SERVED: 390 HEALTH/MEDICAL - 173 TECHNICAL - 41 LEADERSHIP/MANAGEMENT - 37 QUALITY - 17 MAINTENANCE - 51 SAFETY - 19 TUTORING - 52
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2- LINE 2 ERICA DEKKO IS THE SECRETARY OF THE BOARD OF DIRECTORS FOR THE DEKKO FOUNDATION, INC. (TID 35-1528135). THE DEKKO FOUNDATION, INC., IS A MAJOR FUNDER OF THE FREEDOM ACADEMY, INC. (TID 35-1935362). THE FREEDOM ACADEMY, INC., WAS ESTABLISHED BY THE FOUNDER OF THE DEKKO FOUNDATION, INC., WHO WANTED TO EDUCATE ADULTS IN LOCAL COMMUNITIES TO MAKE THEM GREATER ASSETS TO THEIR EMPLOYERS AND PROMOTE ECONOMIC FREEDOM THROUGH EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DEKKO FOUNDATION SECRETARY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS FREEDOM ACADEMY USES TO REVIEW FORM 990 ANNUALLY: 1. FORM 990 DOCUMENT IS COMPILED BY CONTROLLER AND DIRECTOR. 2. DIRECTOR PRESENTS COPY TO EACH GOVERNING BOARD MEMBER AT EITHER FEBRUARY OR APRIL BOARD MEETING (PRIOR TO FILING DATE OF MAY 15). 3. EACH BOARD MEMBER IS ABLE TO REVIEW AND COMMENT ON THE FORM'S CONTENT. A VOTE IS TAKEN TO APPROVE THE FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CONFLICT OF INTEREST STATEMENT IS DISTRIBUTED AT THE FIRST MEETING OF THE BOARD OF DIRECTORS EACH FISCAL YEAR. ALL BOARD MEMBERS (INCLUDING TEENS ON THE BOARD) ARE REQUIRED TO DISCLOSE ANY INFORMATION THAT WOULD GIVE RISE TO CONFLICT. IN ADDITION, THE EXECUTIVE DIRECTOR AND ALL STAFF MEMBERS ARE REQUIRED TO DISCLOSE INFORMATION ON THE CONFLICT OF INTEREST FORM ANNUALLY. THESE FORMS ARE KEPT ON FILE IN THE DIRECTOR'S OFFICE WITH COPIES TO THE CONTROLLER FOR RECORD RETENTION. ANY MEMBER WITH A CONFLICT OF INTEREST IS NOT ALLOWED TO SPEAK ON BEHALF OF THE CONFLICT OR VOTE ON ANY ITEM INVOLVING THE CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE HIRING PROCESS FOR EXECUTIVE DIRECTOR (KEY EMPLOYEES) IS SUCH THAT: UPON RESIGNATION OR TERMINATION OF THE ORGANIZATIONS' EXECUTIVE DIRECTOR (KEY EMPLOYEES), THE BOARD OF DIRECTORS WOULD ASSIGN A COMMITTEE TO BEGIN THE HIRING PROCESS FOR A NEW EXECUTIVE DIRECTOR (KEY EMPLOYEES). THE PROCESS WOULD LOOK LIKE THIS: 1. FORM COMMITTEE 2. ADVERTISE, SEEK REFERRALS 3. INTERVIEWS CONDUCTED IN ONE ON ONE AND THEN GROUP SETTING FOR DIRECTOR POSITION. FOR STAFF, TEAM INTERVIEWS HAVE BEEN IMPLEMENTED. 4. COMMITTEE DETERMINES WAGE RANGE AND SALARY PACKAGE. 5. BOARD OF DIRECTORS VOTE TO APPROVE WAGE AND BENEFITS PACKAGE FOR NEW HIRE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7COPIES ARE MADE AVAILABLE UPON REQUEST OF THE GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, FINANCIAL STATEMENTS, AND THE 990 TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8262,330 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART IX, LINE 11G
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MELISSA CARPENTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02603470887
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FREEDOM ACADEMY INC
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ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-11
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