Civic Intelligence

Options Charter School-Carmel Inc.

990 • Fiscal year 2024 • EIN 35-2157301

Jul 01, 2023 to Jun 30, 2024 • Filed on May 05, 2025

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

66th percentile

0.33x

Higher debt load relative to assets than 66% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

17th percentile

0.04x

Higher debt load relative to revenue than 17% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

56th percentile

7.1%

Higher net margin than 56% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

54th percentile

$195,399

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

96th percentile

88%

Faster asset growth than 96% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

76th percentile

27%

Faster revenue growth than 76% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$1,699,837

Up $1,116,118 (+191%) from 2022

Net Assets

Up

$1,135,336

Up $1,567,719 (+363%) from 2022

Liabilities

Down

$564,501

Down $451,601 (-44%) from 2022

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin56th percentile

Revenue

Up

$13,575,492

Up $4,955,012 (+57%) from 2022

Expenses

Up

$12,612,167

Up $3,873,759 (+44%) from 2022

Net Income

Up

$963,325

Up $1,081,253 (+917%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth96th 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 2024: $1,699,837Liabilities 2024: $564,501Net Assets 2024: $1,135,3362024

Highlighted filing

2024

Assets$1,699,837
Liabilities$564,501
Net Assets$1,135,336
Open 2024 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 2024: $13,575,492Expenses 2024: $12,612,167Net Income 2024: $963,3252024

Highlighted filing

2024

Revenue$13,575,492
Expenses$12,612,167
Net Income$963,325
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 5, 2025
Return Version
2023v6.0
Gross Receipts
$13,575,492
Mission and Program Overview

Mission

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

Charter school in state of indiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$443,856$1,130,522▲ $686,666
Land, Buildings, and Equipment, Net$461,784$569,315▲ $107,531
Total Assets$905,640$1,699,837▲ $794,197
Liabilities
Mortgage Notes Payable Secured by Investment Property$790,301$564,501▼ $225,800
Total Liabilities$790,301$564,501▼ $225,800
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$115,339$1,135,336▲ $1,019,997
Total Net Assets Fund Balance$115,339$1,135,336▲ $1,019,997
Total Liabilities and Net Assets / Fund Balance$905,640$1,699,837▲ $794,197

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$350,282$150,172$500,454
Other Land Buildings$94,055$151,225$245,280
Leasehold Improvements$124,978$15,181$140,159
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mike GustinSchool PresiFT$195,399$195,399
Mike GustinSchool President-$195,399$195,399
Jake BrandauSchool ViceFT$121,342$121,342
Jack ColwellCFOFT$92,538$92,538

Board Members and Trustees

NameTitle
Travis CarmeanBoard Chair
Patricia EllisBoard Vice C
Leann FowlerMember
Sarah GuffeySecretary
Laura AriveTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$13,557,492
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$18,000
All Other Contributions
$481,223
Change in Net Assets
$963,325
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,510,584
Other Expenses$3,101,583
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,345,180$980,477-$6,325,657
Other Employee Benefits$2,329,601$446,047-$2,775,648
Fees for Services Other$518,254$405,221-$923,475
Occupancy$764,657$89,995-$854,652
Office Expenses$669,903$8,205-$678,108
Current Officers, Directors, Trustees, and Key Employees$345,841$63,438-$409,279
Depreciation Depletion$129,214$135-$129,349
Travel$97,568$14,079-$111,647
Insurance-$64,642-$64,642
Interest-$7,339-$7,339
Other Expenses$3,000$12,556-$3,000
Total Functional Expenses$10,311,182$2,300,985$0$12,612,167
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
CFO
Phone
3177738659
Signed
2025-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jack Colwell
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
152

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 state of indiana.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 56,672”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CHARTER SCHOOL IN STATE OF 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 56,672
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PhoneNum03177738659
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OPTIONS SCHOOLS INC
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ReturnHeader/Filer/PhoneNum03177738659
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0200503296
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHARLES MADDEN PC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,699,837
Liabilities
$564,501
Net assets
$1,135,336
Revenue
$13,575,492
Expenses
$12,612,167
Net income
$963,325
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.70$0.56$1.14$13.6$12.6$0.96
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