Civic Intelligence

Drexel Foundation for Educational Excellence Inc.

990 • Fiscal year 2020 • EIN 35-2125768

Jul 01, 2019 to Jun 30, 2020 • Filed on May 06, 2021

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

1.05x

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

84th percentile

1.44x

Higher debt load relative to revenue than 84% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

46th percentile

3.0%

Higher net margin than 46% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

30th percentile

$121,550

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

29th percentile

0.4%

Faster asset growth than 29% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

59th percentile

6.0%

Faster revenue growth than 59% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$16,571,509

Up $67,465 (+0.4%) from 2019

Net Assets

Up

-$812,800

Up $360,623 (+31%) from 2019

Liabilities

Down

$17,384,309

Down $293,158 (-1.7%) from 2019

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin46th percentile

Revenue

Up

$12,035,060

Up $683,056 (+6.0%) from 2019

Expenses

Down

$11,674,437

Down $184,615 (-1.6%) from 2019

Net Income

Up

$360,623

Up $867,671 (+171%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

2020

Assets$16,571,509
Liabilities$17,384,309
Net Assets-$812,800
Open 2020 Filing

Operations Trend

Revenue Growth59th percentile

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

2020

Revenue$12,035,060
Expenses$11,674,437
Net Income$360,623
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 6, 2021
Return Version
2019v5.1
Gross Receipts
$12,035,060
Mission and Program Overview

Mission

Charter school for the promotion of academic excellence

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$13,111,485$12,586,129▼ $525,356
Cash and Non-Interest-Bearing Accounts$1,371,709$2,248,620▲ $876,911
Pledges and Grants Receivable$544,938$238,986▼ $305,952
Prepaid Expenses and Deferred Charges$84,055$91,593▲ $7,538
Total Assets$16,504,044$16,571,509▲ $67,465
Other Assets Total$1,391,857$1,406,181▲ $14,324
Liabilities
Tax Exempt Bond Liabilities$16,404,853$16,083,432▼ $321,421
Accounts Payable and Accrued Expenses$1,272,614$913,347▼ $359,267
Other Liabilities-$387,530-
Total Liabilities$17,677,467$17,384,309▼ $293,158
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,173,423$-812,800▲ $360,623
Total Net Assets Fund Balance$-1,173,423$-812,800▲ $360,623
Total Liabilities and Net Assets / Fund Balance$16,504,044$16,571,509▲ $67,465

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,407,470$5,529,098-
Other Land Buildings$141,602$169,751-
Land$859,886--
Equipment$177,171$4,529,269-
Other Assets Org$1,406,181--
Compensation and Service Providers
Top Officer Pay30th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Keith BradfordPrincipalFT$121,550$121,550
Marissa SimmonsPrincipalFT$92,875$92,875
Kimberly GaitorInstructional CoachFT$72,488$72,488
Lamont HolifieldBuilding LeaderFT$68,507$68,507
Sharida Norris-combsInstructional CoachFT$58,365$58,365
Jermaine MeadDeanFT$52,549$52,549
Keana JohnsonData CoachFT$52,447$52,447
David AllenDeanFT$45,562$45,562
Tynesia BoweDeanFT$40,351$40,351

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$11,919,871
Program Service Revenue
$34,673
Investment Income
$14,780
Other Revenue
$65,736
All Other Contributions
$723,470
Change in Net Assets
$360,623

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,311,590
Revenue Not Reported on Financial Statements
$723,470
Other Revenue Adjustments
$723,470
Total Revenue per Audited Statements
$11,311,590
Total Revenue per Form 990
$12,035,060
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,390,835
Salaries, Compensation, and Employee Benefits$5,283,602
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$4,047,255$631,653$0$4,678,908
Interest$1,171,068$0$0$1,171,068
Other Expenses$0$1,114,864$0$1,114,864
Office Expenses$1,012,687$0$0$1,012,687
Depreciation Depletion$791,531$0$0$791,531
Current Officers, Directors, Trustees, and Key Employees$481,390$123,304$0$604,694
Occupancy$581,887$0$0$581,887
Fees for Services Management$441,866$129,173$0$571,039
All Other Expenses$204,221$4,950$0$209,171
Insurance$0$142,378$0$142,378
Conferences and Meetings$23,884$0$0$23,884
Advertising$0$7,355$0$7,355
Total Functional Expenses$9,291,453$2,382,984$0$11,674,437

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,674,437
Total Expenses per Audited Statements$11,674,437
Total Expenses per Form 990$11,674,437
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
Refundable advance-PPP$387,530

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 35% controlled entity
No
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
2021-05-06
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
175
Volunteers
8

Preparer

Firm
CA Whittaker & Associates
Address
201 E 5th Avenue Suite A, Gary, IN 46402
Preparer
Maoris Green CPA
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.”

Financial Statement Notes

Pt XI, Line 4B

“Paycheck Protection Program Loan Forgiveness Income”

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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/MissionDesc0CHARTER SCHOOL FOR THE PROMOTION OF ACADEMIC EXCELLENCE
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0-1173423
IRS990/NetAssetsOrFundBalancesEOYAmt0-812800
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-1173423
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-812800
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt00
IRS990/OccupancyGrp/ManagementAndGeneralAmt00
IRS990/OccupancyGrp/ProgramServicesAmt0581887
IRS990/OccupancyGrp/TotalAmt0581887
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt01012687
IRS990/OfficeExpensesGrp/TotalAmt01012687
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01391857
IRS990/OtherAssetsTotalGrp/EOYAmt01406181
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/ManagementAndGeneralAmt0227600
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21707
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt31114864
IRS990/OtherExpensesGrp/ProgramServicesAmt00
IRS990/OtherExpensesGrp/ProgramServicesAmt1463345
IRS990/OtherExpensesGrp/ProgramServicesAmt272319
IRS990/OtherExpensesGrp/ProgramServicesAmt30
IRS990/OtherExpensesGrp/TotalAmt0227600
IRS990/OtherExpensesGrp/TotalAmt1463345
IRS990/OtherExpensesGrp/TotalAmt274026
IRS990/OtherExpensesGrp/TotalAmt31114864
IRS990/OtherLiabilitiesGrp/EOYAmt0387530
IRS990/OtherRevenueMiscGrp/BusinessCd0611110
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt065736
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt065736
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueTotalAmt065736
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0544938
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0238986
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt084055
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt091593
IRS990/PrincipalOfficerNm0MICHAEL SUGGS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/Desc0STUDENT FEES
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt034673
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt011184062
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt022520
IRS990/PYOtherExpensesAmt06031581
IRS990/PYOtherRevenueAmt056476
IRS990/PYProgramServiceRevenueAmt088946
IRS990/PYRevenuesLessExpensesAmt0-507048
IRS990/PYSalariesCompEmpBnftPaidAmt05827471
IRS990/PYTotalExpensesAmt011859052
IRS990/PYTotalRevenueAmt011352004
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0360623
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt011311590
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt011407470
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05529098
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt016936568
IRS990ScheduleD/EquipmentGrp/BookValueAmt0177171
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04529269
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt04706440
IRS990ScheduleD/ExpensesSubtotalAmt011674437
IRS990ScheduleD/LandGrp/BookValueAmt0859886
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0859886
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01406181
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CASH-RESTRICTED FOR DEBT SERVICE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0141602
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0169751
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0311353
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0387530
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Refundable advance-PPP
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0723470
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0723470
IRS990ScheduleD/RevenueSubtotalAmt011311590
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Paycheck Protection Program Loan Forgiveness Income
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt012586129
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01406181
IRS990ScheduleD/TotalExpensesPerForm990Amt011674437
IRS990ScheduleD/TotalLiabilityAmt0387530
IRS990ScheduleD/TotalRevenuePerForm990Amt012035060
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt011311590
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt011674437
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

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,571,509
Liabilities
$17,384,309
Net assets
-$812,800
Revenue
$12,035,060
Expenses
$11,674,437
Net income
$360,623
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