Civic Intelligence

Options Charter School-Carmel Inc.

990 • Fiscal year 2023 • EIN 35-2157301

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

Organization ProfileWWW.OPTIONSINED.ORG
18077 River Road Ste 106Noblesville, IN 46062

(317) 773-8659

Siviq Scores

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

Liabilities / Assets

90th percentile

0.87x

Higher debt load relative to assets than 90% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

23rd percentile

0.07x

Higher debt load relative to revenue than 23% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

47th percentile

2.6%

Higher net margin than 47% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

52nd percentile

$185,276

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

91st percentile

55%

Faster asset growth than 91% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

76th percentile

24%

Faster revenue growth than 76% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$905,640

Up $321,921 (+55%) from 2022

Net Assets

Up

$115,339

Up $547,722 (+127%) from 2022

Liabilities

Down

$790,301

Down $225,801 (-22%) from 2022

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin47th percentile

Revenue

Up

$10,652,942

Up $2,032,462 (+24%) from 2022

Expenses

Up

$10,372,553

Up $1,634,145 (+19%) from 2022

Net Income

Up

$280,389

Up $398,317 (+338%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$2.0M$1.0M$0-$1.0MAssets 2015: $390,073Liabilities 2015: $16,904Net Assets 2015: $373,1692015Assets 2016: $1,629,856Liabilities 2016: $1,016,904Net Assets 2016: $612,9522016Assets 2017: $1,730,710Liabilities 2017: $966,904Net Assets 2017: $763,8062017Assets 2018: $1,666,076Liabilities 2018: $866,904Net Assets 2018: $799,1722018Assets 2019: $1,646,380Liabilities 2019: $751,331Net Assets 2019: $895,0492019Assets 2020: $750,928Liabilities 2020: $926,661Net Assets 2020: -$175,7332020Assets 2022: $583,719Liabilities 2022: $1,016,102Net Assets 2022: -$432,3832022Assets 2023: $905,640Liabilities 2023: $790,301Net Assets 2023: $115,3392023

Highlighted filing

2023

Assets$905,640
Liabilities$790,301
Net Assets$115,339
Open 2023 Filing

Operations Trend

Revenue Growth76th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2015: $1,515,510Expenses 2015: $1,246,237Net Income 2015: $269,2732015Revenue 2016: $1,622,894Expenses 2016: $1,418,671Net Income 2016: $204,2232016Revenue 2017: $1,628,240Expenses 2017: $1,508,914Net Income 2017: $119,3262017Revenue 2018: $1,563,357Expenses 2018: $1,523,164Net Income 2018: $40,1932018Revenue 2019: $1,854,758Expenses 2019: $1,776,466Net Income 2019: $78,2922019Revenue 2020: $2,279,248Expenses 2020: $3,346,187Net Income 2020: -$1,066,9392020Revenue 2022: $8,620,480Expenses 2022: $8,738,408Net Income 2022: -$117,9282022Revenue 2023: $10,652,942Expenses 2023: $10,372,553Net Income 2023: $280,3892023

Highlighted filing

2023

Revenue$10,652,942
Expenses$10,372,553
Net Income$280,389
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$10,652,942
Mission and Program Overview

Mission

Charter school in the carmel-clay school district of hamilton county indiana.

Charter school in hamilton county indiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$149,268$461,784▲ $312,516
Cash and Non-Interest-Bearing Accounts$434,451$443,856▲ $9,405
Total Assets$583,719$905,640▲ $321,921
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,016,102$790,301▼ $225,801
Total Liabilities$1,016,102$790,301▼ $225,801
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-432,383$115,339▲ $547,722
Total Net Assets Fund Balance$-432,383$115,339▲ $547,722
Total Liabilities and Net Assets / Fund Balance$583,719$905,640▲ $321,921

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$211,297$108,949$320,246
Other Land Buildings$120,689$124,591$245,280
Leasehold Improvements$129,798$10,361$140,159
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mike GustinSchool PresiFT$185,276$185,276
Mike GustinSchool President-$185,276$185,276
Jake BrandauCFOFT$121,262$121,262

Board Members and Trustees

NameTitle
John KerrBoard Chair
Travis CarmeanVice Chair
Bob BarkerMember
Leann FowlerMember
Matt AbbottMember
Patricia NguyenMember
Sarah GuffeyMember
Laura AriveSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$10,652,742
Program Service Revenue
$0
Investment Income
$200
Other Revenue
$0
All Other Contributions
$581,328
Change in Net Assets
$280,389
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,540,783
Other Expenses$2,831,770
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,194,053$985,709-$5,179,762
Other Employee Benefits$1,654,270$400,213-$2,054,483
Occupancy$637,869$100,833-$738,702
Fees for Services Other$417,348$308,475-$725,823
Office Expenses$538,475$26,675-$565,150
Depreciation Depletion$317,062$190-$317,252
Current Officers, Directors, Trustees, and Key Employees$248,204$58,334-$306,538
Travel$88,603$10,295-$98,898
Insurance-$53,291-$53,291
Interest-$9,597-$9,597
Information Technology$9,121--$9,121
Other Expenses$40,259$5,448-$5,448
Total Functional Expenses$8,218,068$2,154,485$0$10,372,553
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The cfo of the organization reviews the form 990 with the organization's cpa.”

Form 990, Page 6, Part VI, Line 12C

“Members review the policy and conflicts annually and sign a form stating possible conflicts.”

Form 990, Page 6, Part VI, Line 19

“Documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Options Schools Inc
EIN
35-2157301
Phone
3177738659
Address
18077 RIVER ROAD STE 106, NOBLESVILLE, IN 46062

Signing Officer

Name
Jack Colwell
Title
Controller
Phone
3177738659
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jake Brandau
Legal Domicile
In
Voting Board Members
8
Independent Board Members
8
Employees
139

Preparer

Firm
Charles Madden Pc
Address
850 FORT WAYNE AVE, INDIANAPOLIS, IN 46204
Preparer
Daniel Marsh
Phone
3172660480
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Charter school in hamilton county indiana.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 267,333”

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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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0RECEIVES STATE FUNDING THROUGH TAX DOLLARS. ALSO RECEIVES STATE AND FEDERAL GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 6
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SCHOOL PRESIDENT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CHARTER SCHOOL IN HAMILTON COUNTY INDIANA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CFO OF THE ORGANIZATION REVIEWS THE FORM 990 WITH THE ORGANIZATION'S CPA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS REVIEW THE POLICY AND CONFLICTS ANNUALLY AND SIGN A FORM STATING POSSIBLE CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE 267,333
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PhoneNum03177738659
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-15
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ReturnHeader/Filer/EIN0352157301

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$905,640
Liabilities
$790,301
Net assets
$115,339
Revenue
$10,652,942
Expenses
$10,372,553
Net income
$280,389
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.91$0.79$0.12$10.7$10.4$0.28
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$1.02$0.43$8.62$8.74$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$0.93$0.18$2.28$3.35$1.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.65$0.75$0.90$1.85$1.78$0.08
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.67$0.87$0.80$1.56$1.52$0.04
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.73$0.97$0.76$1.63$1.51$0.12
2016Detailed filing. Detailed filing data is available for this year.$1.63$1.02$0.61$1.62$1.42$0.20
2015Detailed filing. Detailed filing data is available for this year.$0.39$0.02$0.37$1.52$1.25$0.27