Civic Intelligence

Drexel Foundation for Educational Excellence Inc.

990 • Fiscal year 2019 • EIN 35-2125768

Jul 01, 2018 to Jun 30, 2019 • Filed on Feb 18, 2020

Organization ProfileN/A
3401 W 5th AvenueGary, IN 46404

(410) 598-3087

Siviq Scores

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

Liabilities / Assets

94th percentile

1.07x

Higher debt load relative to assets than 94% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

85th percentile

1.56x

Higher debt load relative to revenue than 85% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

24th percentile

-4.5%

Higher net margin than 24% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

29th percentile

$121,550

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

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

Source year 2019

Revenue Growth

Score unavailable

No value available

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

Source year 2019

Balance Sheet
Liabilities / Assets94th percentile

Assets

$16,504,044

No earlier filing loaded for comparison.

Net Assets

-$1,173,423

No earlier filing loaded for comparison.

Liabilities

$17,677,467

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin24th percentile

Revenue

$11,352,004

No earlier filing loaded for comparison.

Expenses

$11,859,052

No earlier filing loaded for comparison.

Net Income

-$507,048

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$30M$20M$10M$0-$10MAssets 2019: $16,504,044Liabilities 2019: $17,677,467Net Assets 2019: -$1,173,4232019Assets 2020: $16,571,509Liabilities 2020: $17,384,309Net Assets 2020: -$812,8002020Assets 2021: $17,476,051Liabilities 2021: $16,629,774Net Assets 2021: $846,2772021Assets 2022: $18,665,189Liabilities 2022: $16,223,944Net Assets 2022: $2,441,2452022Assets 2023: $22,513,458Liabilities 2023: $17,119,879Net Assets 2023: $5,393,5792023Assets 2024: $23,591,654Liabilities 2024: $16,981,610Net Assets 2024: $6,610,0442024

Highlighted filing

2019

Assets$16,504,044
Liabilities$17,677,467
Net Assets-$1,173,423
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2019: $11,352,004Expenses 2019: $11,859,052Net Income 2019: -$507,0482019Revenue 2020: $12,035,060Expenses 2020: $11,674,437Net Income 2020: $360,6232020Revenue 2021: $10,326,852Expenses 2021: $8,667,775Net Income 2021: $1,659,0772021Revenue 2022: $12,462,506Expenses 2022: $10,867,538Net Income 2022: $1,594,9682022Revenue 2023: $15,899,006Expenses 2023: $12,946,672Net Income 2023: $2,952,3342023Revenue 2024: $16,298,057Expenses 2024: $15,081,592Net Income 2024: $1,216,4652024

Highlighted filing

2019

Revenue$11,352,004
Expenses$11,859,052
Net Income-$507,048
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Feb 18, 2020
Return Version
2018v3.1
Gross Receipts
$11,352,004
Mission and Program Overview

Mission

Charter school for the promotion of academic excellence

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,849,095$13,111,485▼ $737,610
Cash and Non-Interest-Bearing Accounts$1,194,600$1,371,709▲ $177,109
Pledges and Grants Receivable$504,406$544,938▲ $40,532
Prepaid Expenses and Deferred Charges$165,593$84,055▼ $81,538
Accounts Receivable$14,500--
Total Assets$17,103,491$16,504,044▼ $599,447
Other Assets Total$1,375,297$1,391,857▲ $16,560
Liabilities
Tax Exempt Bond Liabilities$16,706,274$16,404,853▼ $301,421
Accounts Payable and Accrued Expenses$556,803$1,272,614▲ $715,811
Total Liabilities$17,263,077$17,677,467▲ $414,390
Net Assets / Fund Balance
Unrestricted Net Assets$-159,586$-1,173,423▼ $1,013,837
Total Net Assets Fund Balance$-159,586$-1,173,423▼ $1,013,837
Total Liabilities and Net Assets / Fund Balance$17,103,491$16,504,044▼ $599,447

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,818,523$5,093,045-
Other Land Buildings$174,561$126,915-
Land$859,886--
Equipment$258,515$4,216,627-
Other Assets Org$1,391,857--
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Keith BradfordPrincipalFT$121,550$121,550
Marissa SimmonsPrincipalFT$85,927$85,927
Kimberly GaitorInstructional CoachFT$72,488$72,488
Lamont HolifieldBuilding LeaderFT$68,507$68,507
Sharida Norris-combsInstructional CoachFT$53,365$53,365
Jermaine MeadDeanFT$52,549$52,549
Keana JohnsonData CoachFT$52,447$52,447
David AllenDeanFT$45,562$45,562
Tynesia BoweDeanFT$40,321$40,321

Board Members and Trustees

NameTitle
Michael SuggsPresident
Tony WalkerVice Chair
Cliff GoodenMember
Jason BeresMember
Michelle DickersonMember
Eva GomezSecretarty
Richard LeverettTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$11,184,062
Program Service Revenue
$88,946
Investment Income
$22,520
Other Revenue
$56,476
Change in Net Assets
$-507,048

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,352,004
Total Revenue per Audited Statements
$11,352,004
Total Revenue per Form 990
$11,352,004
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,031,581
Salaries, Compensation, and Employee Benefits$5,827,471
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$4,655,207$579,548$0$5,234,755
Interest$1,191,021$0$0$1,191,021
Other Expenses$0$1,095,396$0$1,095,396
Depreciation Depletion$860,447$0$0$860,447
Fees for Services Management$500,593$153,821$0$654,414
Current Officers, Directors, Trustees, and Key Employees$474,173$118,543$0$592,716
Occupancy$574,897$0$0$574,897
Office Expenses$429,645$0$0$429,645
All Other Expenses$148,161$14,831$0$162,992
Insurance$0$152,237$0$152,237
Conferences and Meetings$0$150,227$0$150,227
Advertising$0$8,568$0$8,568
Total Functional Expenses$9,411,597$2,447,455$0$11,859,052

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,365,841
Total Expenses per Audited Statements$12,365,841
Total Expenses per Form 990$12,365,841
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

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIndiana Finance Authority2010-06-30$19,355,000Structures and improvements

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$19,355,000$2,362,424$2,648,726$857,349
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Drexel Foundation for Educational Excellence
EIN
35-2125768
Phone
4105983087
Address
3401 W 5TH AVENUE, GARY, IN 46404
Doing Business As
Thea Bowman Leadership Academy

Signing Officer

Name
Michael Suggs
Title
President
Phone
4105983087
Signed
2020-02-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Suggs
Formed
2003
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
225
Volunteers
8

Preparer

Firm
CA Whittaker & Associates
Address
201 E 5th Avenue Suite A, Gary, IN 46402
Preparer
Virgil Moore
Phone
2198800850
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Board members were provided with a copy of the Form 990 at the board meeting. The form is reviewed, discussed, and approved upon.”

Form 990, Part IX, Line 24E

“Repairs and maintenance 92145. 92145. 0. 0.”

Form 990, Part IX, Line 24E

“Student fundraising 4034. 0. 4034. 0.”

Form 990, Part IX, Line 24E

“Other 66813. 56016. 10797. 0.”

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IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt00
IRS990/OccupancyGrp/ManagementAndGeneralAmt00
IRS990/OccupancyGrp/ProgramServicesAmt0574897
IRS990/OccupancyGrp/TotalAmt0574897
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt0429645
IRS990/OfficeExpensesGrp/TotalAmt0429645
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01375297
IRS990/OtherAssetsTotalGrp/EOYAmt01391857
IRS990/OtherExpensesGrp/Desc0OVERSIGHT FEES
IRS990/OtherExpensesGrp/Desc1FOOD SERVICE EXPENSE
IRS990/OtherExpensesGrp/Desc2TRANSPORTATION
IRS990/OtherExpensesGrp/Desc3ACADEMIC AND MANAGEMENT SERVCES
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0172440
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21844
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt31095396
IRS990/OtherExpensesGrp/ProgramServicesAmt00
IRS990/OtherExpensesGrp/ProgramServicesAmt1518620
IRS990/OtherExpensesGrp/ProgramServicesAmt258833
IRS990/OtherExpensesGrp/ProgramServicesAmt30
IRS990/OtherExpensesGrp/TotalAmt0172440
IRS990/OtherExpensesGrp/TotalAmt1518620
IRS990/OtherExpensesGrp/TotalAmt260677
IRS990/OtherExpensesGrp/TotalAmt31095396
IRS990/OtherRevenueMiscGrp/BusinessCd0611110
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt056476
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt056476
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueTotalAmt056476
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0504406
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0544938
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0165593
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt084055
IRS990/PrincipalOfficerNm0MICHAEL SUGGS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/Desc0STUDENT FEES
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt088946
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt011966403
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt016391
IRS990/PYOtherExpensesAmt05885260
IRS990/PYOtherRevenueAmt016500
IRS990/PYProgramServiceRevenueAmt0115438
IRS990/PYRevenuesLessExpensesAmt0-995196
IRS990/PYSalariesCompEmpBnftPaidAmt07224668
IRS990/PYTotalExpensesAmt013109928
IRS990/PYTotalRevenueAmt012114732
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-507048
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt011352004
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt011818523
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05093045
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt016911568
IRS990ScheduleD/EquipmentGrp/BookValueAmt0258515
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04216627
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt04475142
IRS990ScheduleD/ExpensesSubtotalAmt012365841
IRS990ScheduleD/LandGrp/BookValueAmt0859886
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0859886
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01391857
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CASH-RESTRICTED FOR DEBT SERVICE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0174561
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0126915
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0301476
IRS990ScheduleD/RevenueSubtotalAmt011352004
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013111485
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01391857
IRS990ScheduleD/TotalExpensesPerForm990Amt012365841
IRS990ScheduleD/TotalRevenuePerForm990Amt011352004
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt011352004
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt012365841
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The organization has publicized its racially nondiscriminatory policy through newspaper and broadcast media during the period of solicitation for students and during the registration period. The organization has publicized its racially nondiscriminatory policy through media and broadcasts.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The organization received financial assistance from state and federal grants.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02010-06-30
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0363656836
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum0455057WR6
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt019355000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0INDIANA FINANCE AUTHORITY
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0STRUCTURES AND IMPROVEMENTS
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt016992576

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,504,044
Liabilities
$17,677,467
Net assets
-$1,173,423
Revenue
$11,352,004
Expenses
$11,859,052
Net income
-$507,048
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$23.6$17.0$6.61$16.3$15.1$1.22
2023Detailed filing. Detailed filing data is available for this year.$22.5$17.1$5.39$15.9$12.9$2.95
2022Detailed filing. Detailed filing data is available for this year.$18.7$16.2$2.44$12.5$10.9$1.59
2021Detailed filing. Detailed filing data is available for this year.$17.5$16.6$0.85$10.3$8.67$1.66
2020Detailed filing. Detailed filing data is available for this year.$16.6$17.4$0.81$12.0$11.7$0.36
2019Detailed filing. Detailed filing data is available for this year.$16.5$17.7$1.17$11.4$11.9$0.51