Civic Intelligence

East Academy Inc.

990 • Fiscal year 2016 • EIN 46-2535566

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 17, 2017

Organization ProfileWWW.THE-ACADEMIES.COM
15720 Kipling AvenueCleveland, OH 44110

(216) 383-1214

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.11x

Higher debt load relative to assets than 93% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

87th percentile

1.37x

Higher debt load relative to revenue than 87% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

37th percentile

-1.3%

Higher net margin than 37% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$1,400

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

64th percentile

5.8%

Faster asset growth than 64% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

15th percentile

-21%

Faster revenue growth than 15% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$3,041,123

Up $165,926 (+5.8%) from 2015

Net Assets

Down

-$340,799

Down $31,771 (-10%) from 2015

Liabilities

Up

$3,381,922

Up $197,697 (+6.2%) from 2015

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin37th percentile

Revenue

Down

$2,459,586

Down $667,843 (-21%) from 2015

Expenses

Down

$2,491,357

Down $1,087,423 (-30%) from 2015

Net Income

Up

-$31,771

Up $419,580 (+93%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$4.0M$2.0M$0-$2.0MAssets 2014: $208,341Liabilities 2014: $167,413Net Assets 2014: $40,9282014Assets 2015: $2,875,197Liabilities 2015: $3,184,225Net Assets 2015: -$309,0282015Assets 2016: $3,041,123Liabilities 2016: $3,381,922Net Assets 2016: -$340,7992016Assets 2017: $1,905,678Liabilities 2017: $3,356,854Net Assets 2017: -$1,451,1762017Assets 2018: $1,439,165Liabilities 2018: $3,050,712Net Assets 2018: -$1,611,5472018Assets 2019: $950,983Liabilities 2019: $2,845,393Net Assets 2019: -$1,894,4102019Assets 2020: $943,463Liabilities 2020: $2,750,634Net Assets 2020: -$1,807,1712020Assets 2021: $833,848Liabilities 2021: $2,463,545Net Assets 2021: -$1,629,6972021Assets 2022: $1,075,576Liabilities 2022: $2,499,552Net Assets 2022: -$1,423,9762022Assets 2023: $1,076,277Liabilities 2023: $2,465,541Net Assets 2023: -$1,389,2642023Assets 2024: $1,456,592Liabilities 2024: $2,766,268Net Assets 2024: -$1,309,6762024

Highlighted filing

2016

Assets$3,041,123
Liabilities$3,381,922
Net Assets-$340,799
Open 2016 Filing

Operations Trend

Revenue Growth15th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $3,121,521Expenses 2014: $3,080,593Net Income 2014: $40,9282014Revenue 2015: $3,127,429Expenses 2015: $3,578,780Net Income 2015: -$451,3512015Revenue 2016: $2,459,586Expenses 2016: $2,491,357Net Income 2016: -$31,7712016Revenue 2017: $2,950,666Expenses 2017: $3,430,837Net Income 2017: -$480,1712017Revenue 2018: $2,900,911Expenses 2018: $2,619,005Net Income 2018: $281,9062018Revenue 2019: $3,259,614Expenses 2019: $3,542,477Net Income 2019: -$282,8632019Revenue 2020: $2,919,341Expenses 2020: $2,832,102Net Income 2020: $87,2392020Revenue 2021: $3,522,348Expenses 2021: $3,344,874Net Income 2021: $177,4742021Revenue 2022: $3,466,351Expenses 2022: $3,260,630Net Income 2022: $205,7212022Revenue 2023: $4,667,725Expenses 2023: $4,633,013Net Income 2023: $34,7122023Revenue 2024: $4,828,248Expenses 2024: $4,748,660Net Income 2024: $79,5882024

Highlighted filing

2016

Revenue$2,459,586
Expenses$2,491,357
Net Income-$31,771
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 17, 2017
Return Version
2015v3.0
Gross Receipts
$2,459,586
Mission and Program Overview

Mission

"it is our mission to provide an effective, consistent, and academically rigorous education in a safe, disciplined, and nurturing environment. We will empower students to reach their fullest potential by implementing a comprehensive curriculum facilitated by a highly effective educators in collaboration with families in the community, and supported by progressive technology."

To provide a high quality alternative education opportunity for children ages 5-14, grades k-8

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$2,762,582$2,932,739▲ $170,157
Cash and Non-Interest-Bearing Accounts$85,508$79,895▼ $5,613
Pledges and Grants Receivable$27,107$28,489▲ $1,382
Total Assets$2,875,197$3,041,123▲ $165,926
Liabilities
Other Liabilities$2,668,525$3,139,563▲ $471,038
Deferred Revenue$480,752$199,521▼ $281,231
Grants Payable$33,350$28,767▼ $4,583
Accounts Payable and Accrued Expenses$1,598$14,071▲ $12,473
Total Liabilities$3,184,225$3,381,922▲ $197,697
Net Assets / Fund Balance
Unrestricted Net Assets$-309,028$-340,799▼ $31,771
Total Net Assets Fund Balance$-309,028$-340,799▼ $31,771
Total Liabilities and Net Assets / Fund Balance$2,875,197$3,041,123▲ $165,926
Compensation and Service Providers
Top Officer Pay35th percentile

Employees

NameTitleBaseTotal
David ShepherdPresident$1,400$1,400
Carl FreySecretary$1,400$1,400
Steven VargaVice President$1,400$1,400
Glenn BebieDirector$1,200$1,200
David FlorezDirector$800$800

Board Members and Trustees

NameTitle
Jeffrey a Foster CPAFiscal Officer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sta East LLCEducational Management121 SOUTH MAIN STREET SUITE 200, Akron, OH 44308$2,344,896
Revenue and Support

Revenue Composition

Contributions and Grants
$2,438,281
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$21,305
Change in Net Assets
$-31,771

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,459,586
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,459,586
Total Revenue per Form 990
$2,459,586
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,453,829
Salaries, Compensation, and Employee Benefits$37,528
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$2,344,896--$2,344,896
Pension Plan Contributions$37,528--$37,528
Fees for Services Accounting-$23,835-$23,835
Fees for Services Legal-$15,259-$15,259
Other Expenses-$8,127-$8,127
Insurance-$4,880-$4,880
Office Expenses-$131-$131
Total Functional Expenses$2,382,424$108,933$0$2,491,357

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,491,357
Total Expenses per Audited Statements$2,491,357
Total Expenses per Form 990$2,491,357
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Net Pension Liability$3,139,563
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The school contracts with sta east, llc for most of its functions. Sta east, llc is responsible and accountable to the school's board of directors for the administration and operation of the school. The school is required to pay sta east, llc a continuing fee of 95 percent of the school's "qualified gross revenues and sta east, llc is responsible for all costs incurred in providing the educational program at the school. While control over the management duties of the school has been delegated to sta east, llc by virtue of the management agreement, the governing authority still has the overall responsibilty to oversee the accounting procedures.”

Form 990, Part VI, Section B, Line 11

“A copy of the completed form 990 is sent to the board president and school treasurer to be reviewed and signed before filing.”

Form 990, Part VI, Section B, Line 12C

“The governing authority reviews the conflict of interest policy annually.”

Form 990, Part VI, Section C, Line 19

“Upon written or verbal request, documents are made available to the public. However, for the end of the year unaudited financials, a public notice is placed in the local papers stating that the unaudited financials are available for review.”

Filing and Contact Details

Filer

Filer Name
East Academy
EIN
46-2535566
Phone
2163831214
Address
15720 KIPLING AVENUE, CLEVELAND, OH 44110

Signing Officer

Name
David Shepherd
Title
President
Phone
2163831214
Signed
2017-01-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Shepherd
Formed
2013
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Skoda Minotti & Co
Address
3320 WEST MARKET STREET STE 300, FAIRLAWN, OH 44333
Preparer
Jeffrey a Foster CPA
Phone
3306681100
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization does have a committee that assumes oversight responsibility of the audit, review of its financial statements, and selection of an independent accountant. This has been in place since inception.”

Raw XML Appendix354 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990ScheduleE/DiscriminateRaceSchsInd00
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IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0A STATEMENT READING "ALL EDUCATIONAL PROGRAMS ARE AVAILABLE WITHOUT REGARD TO RACE, COLOR, NATIONAL ORIGIN, SEX OR DISABILITY" IS ALWAYS INCLUDED. THIS STATEMENT IS PUBLISHED IN THE PARENT/STUDENT HANDBOOK, BOARD POLICY BOOK AND ON THE WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT PROVIDE SCHOLARSHIPS OR FINANCIAL ASSISTANCE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL CURRENTLY PARTICIPATES IN THE STATE FOUNDATION PROGRAM. REVENUES RECEIVED FROM THIS PROGRAM ARE RECOGNIZED AS OPERATING REVENUES IN THE ACCOUNTING PERIOD IN WHICH ALL ELIGIBILITY REQUIREMENTS HAVE BEEN MET. THE SCHOOL ALSO PARTICIPATES IN THE FEDERAL CHARTER SCHOOL GRANT PROGRAM THROUGH THE OHIO DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL CONTRACTS WITH STA EAST, LLC FOR MOST OF ITS FUNCTIONS. STA EAST, LLC IS RESPONSIBLE AND ACCOUNTABLE TO THE SCHOOL'S BOARD OF DIRECTORS FOR THE ADMINISTRATION AND OPERATION OF THE SCHOOL. THE SCHOOL IS REQUIRED TO PAY STA EAST, LLC A CONTINUING FEE OF 95 PERCENT OF THE SCHOOL'S "QUALIFIED GROSS REVENUES AND STA EAST, LLC IS RESPONSIBLE FOR ALL COSTS INCURRED IN PROVIDING THE EDUCATIONAL PROGRAM AT THE SCHOOL. WHILE CONTROL OVER THE MANAGEMENT DUTIES OF THE SCHOOL HAS BEEN DELEGATED TO STA EAST, LLC BY VIRTUE OF THE MANAGEMENT AGREEMENT, THE GOVERNING AUTHORITY STILL HAS THE OVERALL RESPONSIBILTY TO OVERSEE THE ACCOUNTING PROCEDURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE COMPLETED FORM 990 IS SENT TO THE BOARD PRESIDENT AND SCHOOL TREASURER TO BE REVIEWED AND SIGNED BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING AUTHORITY REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON WRITTEN OR VERBAL REQUEST, DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. HOWEVER, FOR THE END OF THE YEAR UNAUDITED FINANCIALS, A PUBLIC NOTICE IS PLACED IN THE LOCAL PAPERS STATING THAT THE UNAUDITED FINANCIALS ARE AVAILABLE FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DOES HAVE A COMMITTEE THAT ASSUMES OVERSIGHT RESPONSIBILITY OF THE AUDIT, REVIEW OF ITS FINANCIAL STATEMENTS, AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS HAS BEEN IN PLACE SINCE INCEPTION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02875197
IRS990/TotalAssetsEOYAmt03041123
IRS990/TotalAssetsGrp/BOYAmt02875197
IRS990/TotalAssetsGrp/EOYAmt03041123
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02438281
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0108933
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02382424
IRS990/TotalFunctionalExpensesGrp/TotalAmt02491357
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03184225
IRS990/TotalLiabilitiesEOYAmt03381922
IRS990/TotalLiabilitiesGrp/BOYAmt03184225
IRS990/TotalLiabilitiesGrp/EOYAmt03381922
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-309028
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-340799
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02382424
IRS990/TotalReportableCompFromOrgAmt06200
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt021305
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02459586
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02875197
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03041123
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-309028
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-340799
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt015720 KIPLING AVENUE
IRS990/USAddress/CityNm0CLEVELAND
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044110
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.THE-ACADEMIES.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID SHEPHERD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02163831214
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-01-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EAST ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0EAST
ReturnHeader/Filer/EIN0462535566
ReturnHeader/Filer/PhoneNum02163831214
ReturnHeader/Filer/USAddress/AddressLine1Txt015720 KIPLING AVENUE
ReturnHeader/Filer/USAddress/CityNm0CLEVELAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044110
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341945206
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SKODA MINOTTI & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03320 WEST MARKET STREET STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FAIRLAWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044333
ReturnHeader/PreparerPersonGrp/PhoneNum03306681100
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY A FOSTER CPA
ReturnHeader/ReturnTs02017-02-24T10:25:03-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,041,123
Liabilities
$3,381,922
Net assets
-$340,799
Revenue
$2,459,586
Expenses
$2,491,357
Net income
-$31,771
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.46$2.77$1.31$4.83$4.75$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.08$2.47$1.39$4.67$4.63$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.08$2.50$1.42$3.47$3.26$0.21
2021Detailed filing. Detailed filing data is available for this year.$0.83$2.46$1.63$3.52$3.34$0.18
2020Detailed filing. Detailed filing data is available for this year.$0.94$2.75$1.81$2.92$2.83$0.09
2019Detailed filing. Detailed filing data is available for this year.$0.95$2.85$1.89$3.26$3.54$0.28
2018Detailed filing. Detailed filing data is available for this year.$1.44$3.05$1.61$2.90$2.62$0.28
2017Detailed filing. Detailed filing data is available for this year.$1.91$3.36$1.45$2.95$3.43$0.48
2016Detailed filing. Detailed filing data is available for this year.$3.04$3.38$0.34$2.46$2.49$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.88$3.18$0.31$3.13$3.58$0.45
2014Summary only. Only limited summary data is available for this year.$0.21$0.17$0.04$3.12$3.08$0.04