Civic Intelligence

The Oaks Academy Inc

990 • Fiscal year 2016 • EIN 35-2050595

Aug 01, 2015 to Jul 31, 2016 • Filed on Jun 15, 2017

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

67th percentile

0.38x

Higher debt load relative to assets than 67% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

37th percentile

0.11x

Higher debt load relative to revenue than 37% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

39th percentile

-0.1%

Higher net margin than 39% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

79th percentile

$215,089

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

60th percentile

4.1%

Faster asset growth than 60% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

46th percentile

1.4%

Faster revenue growth than 46% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Up

$2,537,529

Up $100,411 (+4.1%) from 2015

Net Assets

Down

$1,565,916

Down $7,620 (-0.5%) from 2015

Liabilities

Up

$971,613

Up $108,031 (+13%) from 2015

Revenue

Up

$9,207,586

Up $129,847 (+1.4%) from 2015

Expenses

Up

$9,215,206

Up $1,775,534 (+24%) from 2015

Net Income

Down

-$7,620

Down $1,645,687 (-100%) from 2015

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

2016

Assets$2,537,529
Liabilities$971,613
Net Assets$1,565,916

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

2016

Revenue$9,207,586
Expenses$9,215,206
Net Income-$7,620
Jump To
Filing Snapshot
Filing Period
Aug 1, 2015 to Jul 31, 2016
Signed
Jun 15, 2017
Return Version
2015v3.0
Gross Receipts
$9,207,586
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
Savings and Temporary Cash Investments$796,208$970,047▲ $173,839
Pledges and Grants Receivable$1,079,680$854,897▼ $224,783
Land, Buildings, and Equipment, Net$282,249$425,667▲ $143,418
Prepaid Expenses and Deferred Charges$176,021$220,325▲ $44,304
Accounts Receivable$102,610$66,286▼ $36,324
Cash and Non-Interest-Bearing Accounts$350$307▼ $43
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$2,437,118$2,537,529▲ $100,411
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$672,506$743,508▲ $71,002
Accounts Payable and Accrued Expenses$191,076$228,105▲ $37,029
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$863,582$971,613▲ $108,031
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,216,755$1,387,072▲ $170,317
Unrestricted Net Assets$354,948$139,642▼ $215,306
Permanently Rstr Net Assets$1,833$39,202▲ $37,369
Total Net Assets Fund Balance$1,573,536$1,565,916▼ $7,620
Total Liabilities and Net Assets / Fund Balance$2,437,118$2,537,529▲ $100,411

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$425,667$799,673$1,225,340

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$1,689-▼ $3-$1,686
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andrew HartCEO, the Oaks AcademyFT$190,177$24,912$215,089
Kelly AltmanHead of School, BrooksideFT$104,096$31,483$135,579
Nathan HandDirector of AdvancementFT$102,980$5,847$108,827
Laura GrammerHead of School, Middle SchoolFT$101,164$7,585$108,749
Michael ErlerCFOFT$85,305$5,402$90,707
Bruce CrawfordHead of School, Fall CreekFT$64,660-$64,660

Board Members and Trustees

NameTitle
Dennis BarlowChairman
Tina GridironVice Chairman
Brian MillenBoard Member
Greg EnasBoard Member
Jason KlothBoard Member
John MyrlandBoard Member
Lee LangeBoard Member
Michael HuberBoard Member
Mitch TullBoard Member
Steve WeyreterBoard Member
Thakena HogueBoard Member
Stasia Demos MillsSecretary
Dave SmitsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,143,987
Program Service Revenue
$7,063,587
Investment Income
$12
Other Revenue
$0
All Other Contributions
$2,123,987
Change in Net Assets
$-7,620

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 Traded5$67,182Fair Market Value
Other Non Cash Contri Table5$16,435Cost
Other Non Cash Contri Table6$1,141Cost
Other Non Cash Contri Table3$650Cost
Books and Publications-$146Fair Market Value
Other Non Cash Contri Table1$15Cost
Total Noncash Contributions20$85,569-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,478,918
Revenue Not Reported on Financial Statements
$728,668
Revenue Not Reported on Form 990
$43,989
Other Revenue Adjustments
$728,668
Total Revenue per Audited Statements
$8,522,907
Total Revenue per Form 990
$9,207,586
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,666,493
Other Expenses$2,820,045
Grants and Similar Amounts Paid$728,668
Total Fundraising Expense$664,004
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,231,626$523,406$273,929$4,028,961
Occupancy$758,642$126,216$75,085$959,943
Current Officers, Directors, Trustees, and Key Employees$556,988$102,667$63,956$723,611
Grants to Domestic Individuals$708,668--$708,668
Other Employee Benefits$470,420$52,513$28,628$551,561
Payroll Taxes$288,863$47,735$25,762$362,360
Office Expenses$288,319$37,524$20,520$346,363
Other Expenses$30,790$13,403$154,822$185,612
Fees for Services Accounting$6,558$123,813-$130,371
Depreciation Depletion$84,464$13,899$8,553$106,916
Information Technology$56,088$8,598$5,019$69,705
Conferences and Meetings$38,654$5,903-$44,557
Grants to Domestic Orgs$20,000--$20,000
All Other Expenses-$6,918$3,994$10,912
Fees for Services Legal$6,583$3,184-$9,767
Fees for Services Other$770--$770
Interest-$128-$128
Total Functional Expenses$7,485,295$1,065,907$664,004$9,215,206

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$9,215,206
Total Expenses per Audited Statements$8,530,527
Expenses per Audited Statements$8,486,538
Expenses Not Reported on Financial Statements$728,668
Other Expense Adjustments$728,668
Expenses Not Reported on Form 990$43,989
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Oaks Community CenterIndianapolis, IN501(c)(3)Program Support$20,000
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

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

Governance Explanations

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

Process to review the form 990 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.

Form 990, Part VI, Section B, Line 12C

Process for monitoring compliance with conflict of interest policy 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 topics.

Form 990, Part VI, Section B, Question 15A & 15B

Review of top management and other officer or key employees compensation 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 2016. The budget, executive, and finance committees review and approve officer compensation. The last review was conducted in june 2016. Discussion of compensation is noted in the board's minutes.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements 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.

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 Erler
Title
CFO
Phone
3179313043
Signed
2017-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Hart
Formed
1998
Legal Domicile
In
Voting Board Members
13
Independent Board Members
13
Employees
199
Volunteers
75

Preparer

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

Additional Explanations

Scholarship Granting Organizations

Contributions and grants during the year, the oaks academy received $3,055,466 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

Form 990, Schedule D, Part V, Line 4

Intended uses of the organization's endowment funds the oaks academy, inc. Holds an investment in perpetuity, the income of which is expendable to support scholarships.

Form 990, Schedule D, Part X

Fin 48 disclosure 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.

Form 990, Schedule D, Part XI & XII, Line 4B

Other adjustments scholarships and grants-in-aid $728,668

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13CEO, THE OAKS ACADEMY
IRS990/Form990PartVIISectionAGrp/TitleTxt14HEAD OF SCHOOL, BROOKSIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt15HEAD OF SCHOOL, MIDDLE SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt16CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt17HEAD OF SCHOOL, FALL CREEK
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR OF ADVANCEMENT
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IRS990/PrincipalOfficerNm0ANDREW HART
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IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
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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