Civic Intelligence

The Oaks Academy Inc

990 • Fiscal year 2015 • EIN 35-2050595

Aug 01, 2014 to Jul 31, 2015 • Filed on Jun 15, 2016

2301 N Park AvenueIndianapolis, IN 46205

(317) 931-3043

Siviq Scores

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

Liabilities / Assets

65th percentile

0.35x

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

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

34th percentile

0.10x

Higher debt load relative to revenue than 34% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

77th percentile

18%

Higher net margin than 77% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

75th percentile

$193,573

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

98th percentile

251%

Faster asset growth than 98% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

88th percentile

42%

Faster revenue growth than 88% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Up

$2,437,118

Up $1,743,003 (+251%) from 2014

Net Assets

Up

$1,573,536

Up $1,638,067 (+2538%) from 2014

Liabilities

Up

$863,582

Up $104,936 (+14%) from 2014

Revenue

Up

$9,077,739

Up $2,704,924 (+42%) from 2014

Expenses

Up

$7,439,672

Up $1,090,494 (+17%) from 2014

Net Income

Up

$1,638,067

Up $1,614,430 (+6830%) from 2014

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $481,518Liabilities 2010: $458,527Net Assets 2010: $22,9912010Assets 2011: $635,844Liabilities 2011: $644,441Net Assets 2011: -$8,5972011Assets 2012: $440,295Liabilities 2012: $459,069Net Assets 2012: -$18,7742012Assets 2013: $632,802Liabilities 2013: $721,545Net Assets 2013: -$88,7432013Assets 2014: $694,115Liabilities 2014: $758,646Net Assets 2014: -$64,5312014Assets 2015: $2,437,118Liabilities 2015: $863,582Net Assets 2015: $1,573,5362015Assets 2016: $2,537,529Liabilities 2016: $971,613Net Assets 2016: $1,565,9162016Assets 2017: $2,917,867Liabilities 2017: $1,471,641Net Assets 2017: $1,446,2262017Assets 2018: $3,505,448Liabilities 2018: $1,470,277Net Assets 2018: $2,035,1712018Assets 2019: $3,207,577Liabilities 2019: $1,690,147Net Assets 2019: $1,517,4302019Assets 2020: $3,659,734Liabilities 2020: $4,096,857Net Assets 2020: -$437,1232020Assets 2021: $7,476,421Liabilities 2021: $3,925,817Net Assets 2021: $3,550,6042021Assets 2022: $6,235,160Liabilities 2022: $2,793,406Net Assets 2022: $3,441,7542022Assets 2023: $11,021,673Liabilities 2023: $3,402,982Net Assets 2023: $7,618,6912023Assets 2024: $13,395,745Liabilities 2024: $3,412,330Net Assets 2024: $9,983,4152024

Highlighted filing

2015

Assets$2,437,118
Liabilities$863,582
Net Assets$1,573,536

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $6,019,2032010Expenses 2011: $4,328,6752011Expenses 2012: $4,421,8352012Expenses 2013: $6,048,6262013Revenue 2014: $6,372,815Expenses 2014: $6,349,178Net Income 2014: $23,6372014Revenue 2015: $9,077,739Expenses 2015: $7,439,672Net Income 2015: $1,638,0672015Revenue 2016: $9,207,586Expenses 2016: $9,215,206Net Income 2016: -$7,6202016Revenue 2017: $10,047,449Expenses 2017: $10,167,139Net Income 2017: -$119,6902017Revenue 2018: $11,302,865Expenses 2018: $10,713,920Net Income 2018: $588,9452018Revenue 2019: $11,669,918Expenses 2019: $12,194,557Net Income 2019: -$524,6392019Revenue 2020: $14,029,866Expenses 2020: $15,986,498Net Income 2020: -$1,956,6322020Revenue 2021: $17,454,996Expenses 2021: $13,503,869Net Income 2021: $3,951,1272021Revenue 2022: $16,432,812Expenses 2022: $16,539,604Net Income 2022: -$106,7922022Revenue 2023: $21,504,396Expenses 2023: $16,656,599Net Income 2023: $4,847,7972023Revenue 2024: $18,042,538Expenses 2024: $15,754,962Net Income 2024: $2,287,5762024

Highlighted filing

2015

Revenue$9,077,739
Expenses$7,439,672
Net Income$1,638,067
Jump To
Filing Snapshot
Filing Period
Aug 1, 2014 to Jul 31, 2015
Signed
Jun 15, 2016
Return Version
2014v6.0
Gross Receipts
$9,077,739
Mission and Program Overview

Mission

The oaks academy offers an isacs (independent schools association of the central states) accredited liberal arts education for students from pre-kindergarten through eighth grade. The mission of the oaks is to be a christ-centered school that provides a rich, classical education to children of diverse racial and socioeconomic backgrounds, preparing them to succeed in a rigorous secondary educational program and to demonstrate spiritual, social and emotional maturity.

To provide a christ-centered school that exists to provide a rich, classical education to children of diverse racial and socioeconomic backgrounds.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$0$1,079,680▲ $1,079,680
Savings and Temporary Cash Investments$348,231$796,208▲ $447,977
Land, Buildings, and Equipment, Net$159,610$282,249▲ $122,639
Prepaid Expenses and Deferred Charges$147,464$176,021▲ $28,557
Accounts Receivable$38,620$102,610▲ $63,990
Cash and Non-Interest-Bearing Accounts$190$350▲ $160
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$694,115$2,437,118▲ $1,743,003
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$520,118$672,506▲ $152,388
Accounts Payable and Accrued Expenses$238,528$191,076▼ $47,452
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$758,646$863,582▲ $104,936
Net Assets / Fund Balance
Temporarily Rstr Net Assets$89,245$1,216,755▲ $1,127,510
Unrestricted Net Assets$-155,609$354,948▲ $510,557
Permanently Rstr Net Assets$1,833$1,833→ $0
Total Net Assets Fund Balance$-64,531$1,573,536▲ $1,638,067
Total Liabilities and Net Assets / Fund Balance$694,115$2,437,118▲ $1,743,003

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$282,249$694,037$976,286

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$1,737-▼ $48-$1,689
2013$1,785-▼ $48-$1,737
2012$1,833-▼ $48-$1,785
2011$6,030-▼ $4,197-$1,833
2010$6,078-▼ $48-$6,030
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andrew HartHead of School, Fall CreekFT$169,613$23,960$193,573
Kelly AltmanHead of School, BrooksideFT$92,098$39,718$131,816
Laura GrammerAcademic DeanFT$92,137$7,616$99,753
David WilkinsonCFO (4/7/2014 - 12/31/2014)FT$66,671$890$67,561

Board Members and Trustees

NameTitle
Steve WeyreterChairman
Dennis BarlowVice Chairman
Bryan BrennerBoard Member
Greg EnasBoard Member
Hemi BantaBoard Member
Henry JanzenBoard Member
Joanna TaftBoard Member
Kurt MahrdtBoard Member
Lee LangeBoard Member
Michael HuberBoard Member
Patrick DubachBoard Member
Thakena HogueBoard Member
Tina GridironBoard Member
Michael ErlerCFO, Started 3/2/2015
Stasia Demos MillsSecretary
Tyler SadekTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,847,939
Program Service Revenue
$6,229,748
Investment Income
$52
Other Revenue
$0
All Other Contributions
$2,847,939
Change in Net Assets
$1,638,067

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded8$339,294Fair Market Value
Other Non Cash Contri Table4$886Cost
Other Non Cash Contri Table3$525Cost
Other Non Cash Contri Table1$450Fair Market Value
Books and Publications-$210Fair Market Value
Other Non Cash Contri Table1$150Cost
Other Non Cash Contri Table1$75Cost
Total Noncash Contributions18$341,590-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,553,596
Revenue Not Reported on Financial Statements
$524,143
Revenue Not Reported on Form 990
$54,150
Other Revenue Adjustments
$524,143
Total Revenue per Audited Statements
$8,607,746
Total Revenue per Form 990
$9,077,739
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,958,325
Other Expenses$1,933,928
Total Fundraising Expense$539,634
Grants and Similar Amounts Paid$524,143
Professional Fundraising Fees$23,276

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,783,642$546,218$301,612$3,631,472
Occupancy$616,978$121,066$66,851$804,895
Grants to Domestic Individuals$524,143--$524,143
Other Employee Benefits$390,636$76,652$42,326$509,614
Current Officers, Directors, Trustees, and Key Employees$377,673$74,109$40,921$492,703
Payroll Taxes$248,768$48,814$26,954$324,536
Office Expenses$144,248$28,305$15,630$188,183
Depreciation Depletion$55,089$10,810$5,969$71,868
All Other Expenses$68,421--$68,421
Insurance$44,889$8,808$4,864$58,561
Fees for Services Accounting$38,126$7,481$4,131$49,738
Information Technology$34,213$6,713$3,707$44,633
Conferences and Meetings$20,890$4,099$2,264$27,253
Fees for Services Professional Fundraising--$23,276$23,276
Fees for Services Legal$7,622$1,496$826$9,944
Other Expenses$8,293--$8,293
Interest$2,796$550$303$3,649
Total Functional Expenses$5,964,917$935,121$539,634$7,439,672

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$7,439,672
Total Expenses per Audited Statements$6,969,679
Expenses per Audited Statements$6,915,529
Expenses Not Reported on Financial Statements$524,143
Other Expense Adjustments$524,143
Expenses Not Reported on Form 990$54,150
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$23,276
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
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
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Oaks Academy Inc
EIN
35-2050595
In Care Of
% ANDREW HART
Phone
3179313043
Address
2301 N PARK AVENUE, INDIANAPOLIS, IN 46205

Signing Officer

Name
Michael Earler
Title
CFO
Phone
3179313034
Signed
2016-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Hart
Formed
1998
Legal Domicile
In
Voting Board Members
15
Independent Board Members
15
Employees
141
Volunteers
60

Preparer

Firm
Bkd Llp
Address
201 N Illinois Street, Indianapolis, IN 46204
Preparer
Nicole B Fishback
Phone
3173834000
Supplemental Narrative

Additional Explanations

Process to Review the Form 990

Form 990, part vi, question 11b a copy of the 990 is provided to the full board of directors prior to filing. The finance committee of the board will perform a detailed review and report their opinion to the full board at the next board meeting. The form 990 is also reviewed by an independent accounting firm.

Process for Monitoring Compliance With Conflict of Interest Policy

Form 990, part vi, question 12c the conflict of interest questionnaire is provided annually at the board retreat. The head of school and board chair review the responses and determine the appropriate action. Any board member with a conflict of interest does not participate in decision-making or vote on the related topic.

Review of Top Management and Other Officer or Key Employees Compensation

Form 990, part vi, question 15a & 15b using comparable data from the independent schools association of the central states, the executive committee reviews and approves the head of school's compensation. The last review was conducted in may 2015. The budget, executive, and finance committees review and approve officer compensation. The last review was conducted in june 2015. Discussion of compensation is noted in the board's minutes.

Governing Documents, Conflict of Interest Policy, and Financial Statements

Form 990, part vi, line 19 the organization's financial statements are available to all those who award the academy a grant. An annual report is compiled and sent out to donors each fiscal year. Governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Scholarship Granting Organization

Contributions and grants during the year, the oaks academy received $2,771,112 from various scholarship granting organizations. The use of these funds is restricted to student scholarships and per federal law is not recognized as contribution revenue thus not reported on the form 990. Individuals contributing to the organization through these vehicles receive specific tax benefits in the state of indiana.

Financial Statement Notes

INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS

Schedule d, part v, line 4 the oaks holds an investment in perpetuity, the income of which is expendable to support scholarships.

FIN 48 Disclosure

SCHEDULE D, PART X Management has evaluated their income tax positions under the guidance included in ASC 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Other Adjustments

Schedule d, parts xi & xii, line 4b scholarships and grants-in-aid $ 524,143

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IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt15HEAD OF SCHOOL, FALL CREEK
IRS990/Form990PartVIISectionAGrp/TitleTxt16HEAD OF SCHOOL, BROOKSIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt17ACADEMIC DEAN
IRS990/Form990PartVIISectionAGrp/TitleTxt18CFO, STARTED 3/2/2015
IRS990/Form990PartVIISectionAGrp/TitleTxt19CFO (4/7/2014 - 12/31/2014)
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IRS990/MissionDesc0THE OAKS ACADEMY OFFERS AN ISACS (INDEPENDENT SCHOOLS ASSOCIATION OF THE CENTRAL STATES) ACCREDITED LIBERAL ARTS EDUCATION FOR STUDENTS FROM PRE-KINDERGARTEN THROUGH EIGHTH GRADE. THE MISSION OF THE OAKS IS TO BE A CHRIST-CENTERED SCHOOL THAT PROVIDES A RICH, CLASSICAL EDUCATION TO CHILDREN OF DIVERSE RACIAL AND SOCIOECONOMIC BACKGROUNDS, PREPARING THEM TO SUCCEED IN A RIGOROUS SECONDARY EDUCATIONAL PROGRAM AND TO DEMONSTRATE SPIRITUAL, SOCIAL AND EMOTIONAL MATURITY.
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IRS990/OtherExpensesGrp/Desc1EDUCATIONAL MATERIALS
IRS990/OtherExpensesGrp/Desc2MEAL & UNIFORM EXPENSES
IRS990/OtherExpensesGrp/Desc3BAD DEBT EXPENSE
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0147464

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.4$3.41$9.98$18.0$15.8$2.29
2023Detailed filing. Detailed filing data is available for this year.$11.0$3.40$7.62$21.5$16.7$4.85
2022Detailed filing. Detailed filing data is available for this year.$6.24$2.79$3.44$16.4$16.5$0.11
2021Detailed filing. Detailed filing data is available for this year.$7.48$3.93$3.55$17.5$13.5$3.95
2020Detailed filing. Detailed filing data is available for this year.$3.66$4.10$0.44$14.0$16.0$1.96
2019Detailed filing. Detailed filing data is available for this year.$3.21$1.69$1.52$11.7$12.2$0.52
2018Detailed filing. Detailed filing data is available for this year.$3.51$1.47$2.04$11.3$10.7$0.59
2017Detailed filing. Detailed filing data is available for this year.$2.92$1.47$1.45$10.0$10.2$0.12
2016Detailed filing. Detailed filing data is available for this year.$2.54$0.97$1.57$9.21$9.22$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.44$0.86$1.57$9.08$7.44$1.64
2014Detailed filing. Detailed filing data is available for this year.$0.69$0.76$0.06$6.37$6.35$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.63$0.72$0.09$6.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.46$0.02$4.42
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.64$0.01$4.33
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.46$0.02$6.02