Civic Intelligence

East Academy Inc.

990 • Fiscal year 2020 • EIN 46-2535566

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

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

99th percentile

2.92x

Higher debt load relative to assets than 99% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

85th percentile

0.94x

Higher debt load relative to revenue than 85% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

45th percentile

3.0%

Higher net margin than 45% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$750

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

29th percentile

-0.8%

Faster asset growth than 29% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

32nd percentile

-10%

Faster revenue growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$943,463

Down $7,520 (-0.8%) from 2019

Net Assets

Up

-$1,807,171

Up $87,239 (+4.6%) from 2019

Liabilities

Down

$2,750,634

Down $94,759 (-3.3%) from 2019

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin45th percentile

Revenue

Down

$2,919,341

Down $340,273 (-10%) from 2019

Expenses

Down

$2,832,102

Down $710,375 (-20%) from 2019

Net Income

Up

$87,239

Up $370,102 (+131%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth29th 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

2020

Assets$943,463
Liabilities$2,750,634
Net Assets-$1,807,171
Open 2020 Filing

Operations Trend

Revenue Growth32nd 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

2020

Revenue$2,919,341
Expenses$2,832,102
Net Income$87,239
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 1, 2021
Return Version
2019v5.2
Gross Receipts
$2,919,341
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$715,186$715,657▲ $471
Cash and Non-Interest-Bearing Accounts$105,181$97,604▼ $7,577
Pledges and Grants Receivable$41,135$13,156▼ $27,979
Total Assets$950,983$943,463▼ $7,520
Other Assets Total$89,481$117,046▲ $27,565
Liabilities
Other Liabilities$1,949,476$1,899,626▼ $49,850
Deferred Revenue$853,107$830,020▼ $23,087
Grants Payable$41,135$15,656▼ $25,479
Accounts Payable and Accrued Expenses$1,675$5,332▲ $3,657
Total Liabilities$2,845,393$2,750,634▼ $94,759
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,894,410$-1,807,171▲ $87,239
Total Net Assets Fund Balance$-1,894,410$-1,807,171▲ $87,239
Total Liabilities and Net Assets / Fund Balance$950,983$943,463▼ $7,520

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$117,046--
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleBaseTotal
Carl FreyVice President$750$750
David FlorezDirector$625$625

Board Members and Trustees

NameTitle
David ShepherdPresident
Jeffrey a Foster CPAFiscal Officer
Karl SooySecretary
Scott NorcrossTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Accel Schools Ohio LLCEducational Management4700 ROCKSIDE RD, Independence, OH 44131$2,797,228
Revenue and Support

Revenue Composition

Contributions and Grants
$2,919,291
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$50
Change in Net Assets
$87,239

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,919,341
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,919,341
Total Revenue per Form 990
$2,919,341
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,932,864
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0
Salaries, Compensation, and Employee Benefits$-100,762

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$2,797,228--$2,797,228
Office Expenses-$51,133-$51,133
Other Expenses-$16,530-$16,530
Pension Plan Contributions$-100,762--$-100,762
Total Functional Expenses$2,696,466$135,636$0$2,832,102

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,832,102
Total Expenses per Audited Statements$2,832,102
Total Expenses per Form 990$2,832,102
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$1,899,626
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 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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The school contracts with accel schools ohio, llc for most of its functions. Accel schools ohio, 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 accel schools ohio, llc a continuing fee of 94.8 percent of the school's qualified gross revenues for up to the first 300 students and 96 percent of the qualified gross revenues for the 300th and 301st student and any additional students. Accel schools ohio, 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 accel schools ohio, 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 11B

“A copy of the completed form 990 is sent to the board president and school treasurer to be reviewed 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
Jeffrey a Foster CPA
Title
Fiscal Officer
Phone
2163831214
Signed
2021-05-01
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
3

Preparer

Firm
Marcum Llp
Address
3320 WEST MARKET STREET STE 300, FAIRLAWN, OH 44333
Preparer
Jeffrey a Foster CPA
Phone
3305648500
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

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

Raw XML Appendix355 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.

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IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
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 ACCEL SCHOOLS OHIO, LLC FOR MOST OF ITS FUNCTIONS. ACCEL SCHOOLS OHIO, 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 ACCEL SCHOOLS OHIO, LLC A CONTINUING FEE OF 94.8 PERCENT OF THE SCHOOL'S QUALIFIED GROSS REVENUES FOR UP TO THE FIRST 300 STUDENTS AND 96 PERCENT OF THE QUALIFIED GROSS REVENUES FOR THE 300TH AND 301ST STUDENT AND ANY ADDITIONAL STUDENTS. ACCEL SCHOOLS OHIO, 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 ACCEL SCHOOLS OHIO, 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 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 ORGANIATION DOES HAVE A COMMITTEE THAT ASSUMES OVERSIGHT RESPONSIBILITY OF THE AUDIT, REVIEW OF ITS FINANCIAL STATEMENTS, AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS IS THE POLICY PUT IN PLACE SINCE INCEPTION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt0950983
IRS990/TotalAssetsGrp/EOYAmt0943463
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02919291
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0135636
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02696466
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IRS990/TotalLiabilitiesGrp/EOYAmt02750634
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1894410
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1807171
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02696466
IRS990/TotalReportableCompFromOrgAmt01375
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt050
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02919341
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0950983
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0943463
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
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
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JEFFREY A FOSTER CPA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FISCAL OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum02163831214
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EAST ACADEMY
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ReturnHeader/Filer/USAddress/CityNm0CLEVELAND
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARCUM LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03320 WEST MARKET STREET STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FAIRLAWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044333
ReturnHeader/PreparerPersonGrp/PhoneNum03305648500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY A FOSTER CPA
ReturnHeader/ReturnTs02021-05-03T11:51:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$943,463
Liabilities
$2,750,634
Net assets
-$1,807,171
Revenue
$2,919,341
Expenses
$2,832,102
Net income
$87,239
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