Civic Intelligence

Drexel Foundation for Educational Excellence Inc.

990 • Fiscal year 2021 • EIN 35-2125768

Jul 01, 2020 to Jun 30, 2021 • Filed on Apr 26, 2022

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

92nd percentile

0.95x

Higher debt load relative to assets than 92% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

1.61x

Higher debt load relative to revenue than 86% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

57th percentile

16%

Higher net margin than 57% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

33rd percentile

$128,865

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

38th percentile

5.5%

Faster asset growth than 38% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

15th percentile

-14%

Faster revenue growth than 15% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$17,476,051

Up $904,542 (+5.5%) from 2020

Net Assets

Up

$846,277

Up $1,659,077 (+204%) from 2020

Liabilities

Down

$16,629,774

Down $754,535 (-4.3%) from 2020

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin57th percentile

Revenue

Down

$10,326,852

Down $1,708,208 (-14%) from 2020

Expenses

Down

$8,667,775

Down $3,006,662 (-26%) from 2020

Net Income

Up

$1,659,077

Up $1,298,454 (+360%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth38th 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

2021

Assets$17,476,051
Liabilities$16,629,774
Net Assets$846,277
Open 2021 Filing

Operations Trend

Revenue Growth15th 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

2021

Revenue$10,326,852
Expenses$8,667,775
Net Income$1,659,077
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 26, 2022
Return Version
2020v4.1
Gross Receipts
$10,326,852
Mission and Program Overview

Mission

Charter school for the promotion of academic excellence

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$12,586,129$11,999,841▼ $586,288
Cash and Non-Interest-Bearing Accounts$2,248,620$3,374,350▲ $1,125,730
Pledges and Grants Receivable$238,986$692,247▲ $453,261
Prepaid Expenses and Deferred Charges$91,593$236,082▲ $144,489
Total Assets$16,571,509$17,476,051▲ $904,542
Other Assets Total$1,406,181$1,173,531▼ $232,650
Liabilities
Tax Exempt Bond Liabilities$16,083,432$15,680,433▼ $402,999
Other Liabilities$387,530$621,474▲ $233,944
Accounts Payable and Accrued Expenses$913,347$327,867▼ $585,480
Total Liabilities$17,384,309$16,629,774▼ $754,535
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-812,800$846,277▲ $1,659,077
Total Net Assets Fund Balance$-812,800$846,277▲ $1,659,077
Total Liabilities and Net Assets / Fund Balance$16,571,509$17,476,051▲ $904,542

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,014,243$5,999,031-
Land$859,886--
Equipment$125,712$4,900,962-
Other Assets Org$1,173,531--
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marissa SimmonsPrincipalFT$128,865$128,865
Kisha LangAssistant PrincipalFT$73,949$73,949
Keana JohnsonAssistant PrincipalFT$68,422$68,422
Arthur HaggardDeanFT$61,029$61,029
Jermaine MeadDeanFT$55,906$55,906
Kimberly GaitorInstructional CoachFT$40,180$40,180

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
$10,260,155
Program Service Revenue
$37,268
Investment Income
$793
Other Revenue
$28,636
All Other Contributions
$387,530
Change in Net Assets
$1,659,077

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,939,322
Revenue Not Reported on Financial Statements
$387,530
Other Revenue Adjustments
$387,530
Total Revenue per Audited Statements
$9,939,322
Total Revenue per Form 990
$10,326,852
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,584,703
Salaries, Compensation, and Employee Benefits$4,083,072
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$3,189,599$465,122$0$3,654,721
Interest$1,099,364$0$0$1,099,364
Other Expenses$0$791,540$0$791,540
Depreciation Depletion$671,875$0$0$671,875
Fees for Services Management$434,096$199,089$0$633,185
Current Officers, Directors, Trustees, and Key Employees$342,681$85,670$0$428,351
Office Expenses$324,698$1,650$0$326,348
Occupancy$292,449$0$0$292,449
All Other Expenses$169,207$41,738$0$210,945
Insurance$0$139,103$0$139,103
Conferences and Meetings$5,327$0$0$5,327
Advertising$0$3,260$0$3,260
Total Functional Expenses$6,750,560$1,917,215$0$8,667,775

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,667,775
Total Expenses per Audited Statements$8,667,775
Total Expenses per Form 990$8,667,775
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
accrued interest$621,474

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
2022-04-26
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
115
Volunteers
8

Preparer

Firm
CA Whittaker & Associates
Address
201 E 5th Avenue Suite A, Gary, IN 46402
Preparer
Curtis a Whittaker 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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IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0187698
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22345
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3791540
IRS990/OtherExpensesGrp/ProgramServicesAmt00
IRS990/OtherExpensesGrp/ProgramServicesAmt1192563
IRS990/OtherExpensesGrp/ProgramServicesAmt228701
IRS990/OtherExpensesGrp/ProgramServicesAmt30
IRS990/OtherExpensesGrp/TotalAmt0187698
IRS990/OtherExpensesGrp/TotalAmt1192563
IRS990/OtherExpensesGrp/TotalAmt231046
IRS990/OtherExpensesGrp/TotalAmt3791540
IRS990/OtherLiabilitiesGrp/BOYAmt0387530
IRS990/OtherLiabilitiesGrp/EOYAmt0621474
IRS990/OtherRevenueMiscGrp/BusinessCd0611110
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt028636
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt028636
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueTotalAmt028636
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0238986
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0692247
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt091593
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0236082
IRS990/PrincipalOfficerNm0MICHAEL SUGGS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/Desc0STUDENT FEES
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt037268
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt011919871
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt014780
IRS990/PYOtherExpensesAmt06390835
IRS990/PYOtherRevenueAmt065736
IRS990/PYProgramServiceRevenueAmt034673
IRS990/PYRevenuesLessExpensesAmt0360623
IRS990/PYSalariesCompEmpBnftPaidAmt05283602
IRS990/PYTotalExpensesAmt011674437
IRS990/PYTotalRevenueAmt012035060
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01659077
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt010326852
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt011014243
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05999031
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt017013274
IRS990ScheduleD/EquipmentGrp/BookValueAmt0125712
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04900962
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt05026674
IRS990ScheduleD/ExpensesSubtotalAmt08667775
IRS990ScheduleD/LandGrp/BookValueAmt0859886
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0859886
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01173531
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CASH-RESTRICTED FOR DEBT SERVICE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0621474
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0accrued interest
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0387530
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0387530
IRS990ScheduleD/RevenueSubtotalAmt09939322
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Paycheck Protection Program Loan Forgiveness Income
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI, Line 4b
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011999841
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01173531
IRS990ScheduleD/TotalExpensesPerForm990Amt08667775
IRS990ScheduleD/TotalLiabilityAmt0621474
IRS990ScheduleD/TotalRevenuePerForm990Amt010326852
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09939322
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt08667775
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
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt01391857
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0857349
IRS990ScheduleK/TaxExemptBondsProceedsGrp/OtherSpentProceedsAmt02362424
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt02648726
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02011
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt019355000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board members were provided with a copy of the Form 990 at the board meeting. The form is reviewed, discussed, and approved upon.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990/SchoolOperatingInd0true

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,476,051
Liabilities
$16,629,774
Net assets
$846,277
Revenue
$10,326,852
Expenses
$8,667,775
Net income
$1,659,077
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