Civic Intelligence

T2 Honors Academy

990 • Fiscal year 2021 • EIN 46-4458417

Jul 01, 2020 to Jun 30, 2021 • Filed on May 05, 2022

18450 South Miles RoadWarrensville Heights, OH 44128

(216) 640-9551

Siviq Scores

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

Liabilities / Assets

99th percentile

2.33x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

0.93x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

47th percentile

11%

Higher net margin than 47% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

70th percentile

22%

Faster asset growth than 70% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

45th percentile

7.9%

Faster revenue growth than 45% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$510,439

Up $91,171 (+22%) from 2020

Net Assets

Up

-$678,022

Up $137,196 (+17%) from 2020

Liabilities

Down

$1,188,461

Down $46,025 (-3.7%) from 2020

Revenue

Up

$1,275,610

Up $93,560 (+7.9%) from 2020

Expenses

Down

$1,136,031

Down $146,808 (-11%) from 2020

Net Income

Up

$139,579

Up $240,368 (+238%) from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0MAssets 2015: $5,673Liabilities 2015: $219,111Net Assets 2015: -$213,4382015Assets 2016: $624,137Liabilities 2016: $878,171Net Assets 2016: -$254,0342016Assets 2017: $732,292Liabilities 2017: $1,344,096Net Assets 2017: -$611,8042017Assets 2018: $869,927Liabilities 2018: $1,506,308Net Assets 2018: -$636,3812018Assets 2019: $630,743Liabilities 2019: $1,345,108Net Assets 2019: -$714,3652019Assets 2020: $419,268Liabilities 2020: $1,234,486Net Assets 2020: -$815,2182020Assets 2021: $510,439Liabilities 2021: $1,188,461Net Assets 2021: -$678,0222021Assets 2022: $916,583Liabilities 2022: $1,493,501Net Assets 2022: -$576,9182022Assets 2023: $889,405Liabilities 2023: $1,540,678Net Assets 2023: -$651,2732023Assets 2024: $840,823Liabilities 2024: $1,510,307Net Assets 2024: -$669,4842024

Highlighted filing

2021

Assets$510,439
Liabilities$1,188,461
Net Assets-$678,022

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2015: $406,805Expenses 2015: $620,243Net Income 2015: -$213,4382015Revenue 2016: $852,348Expenses 2016: $932,388Net Income 2016: -$80,0402016Revenue 2017: $986,774Expenses 2017: $1,344,544Net Income 2017: -$357,7702017Revenue 2018: $1,132,081Expenses 2018: $903,045Net Income 2018: $229,0362018Revenue 2019: $1,144,965Expenses 2019: $1,221,378Net Income 2019: -$76,4132019Revenue 2020: $1,182,050Expenses 2020: $1,282,839Net Income 2020: -$100,7892020Revenue 2021: $1,275,610Expenses 2021: $1,136,031Net Income 2021: $139,5792021Revenue 2022: $1,461,107Expenses 2022: $1,360,003Net Income 2022: $101,1042022Revenue 2023: $1,542,957Expenses 2023: $1,617,312Net Income 2023: -$74,3552023Revenue 2024: $1,656,834Expenses 2024: $1,685,861Net Income 2024: -$29,0272024

Highlighted filing

2021

Revenue$1,275,610
Expenses$1,136,031
Net Income$139,579
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 5, 2022
Return Version
2020v4.0
Gross Receipts
$1,275,610
Mission and Program Overview

Mission

Students will be challenged to develop strong character values and a desire to service publicly to lead the world in social reforms that could help improve society for all.

T Squared Honors Academy will utilize a rigorous innovative academic curriculum to infuse a passion for people, intrinsic motivation and self-discipline in its students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Prepaid Expenses and Deferred Charges$294,272$250,157▼ $44,115
Cash and Non-Interest-Bearing Accounts$65,570$136,239▲ $70,669
Land, Buildings, and Equipment, Net$2,383$34,063▲ $31,680
Pd in Cap Srpls Land Bldg Eqp Fund$2,383$34,063▲ $31,680
Pledges and Grants Receivable$159$29,011▲ $28,852
Accounts Receivable$7,329$6,311▼ $1,018
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-817,601$-712,085▲ $105,516
Total Assets$419,268$510,439▲ $91,171
Other Assets Total$49,555$54,658▲ $5,103
Liabilities
Other Liabilities$1,023,938$954,860▼ $69,078
Deferred Revenue$146,398$154,059▲ $7,661
Accounts Payable and Accrued Expenses$64,150$79,542▲ $15,392
Total Liabilities$1,234,486$1,188,461▼ $46,025
Net Assets / Fund Balance
Total Net Assets Fund Balance$-815,218$-678,022▲ $137,196
Total Liabilities and Net Assets / Fund Balance$419,268$510,439▲ $91,171

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$34,063$15,113$49,176
Other Assets Org$54,658--
Compensation and Service Providers

Board Members and Trustees

NameTitle
-Board Member
Revenue and Support

Revenue Composition

Contributions and Grants
$1,150,535
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$125,075
All Other Contributions
$873,106
Change in Net Assets
$139,579

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,275,610
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$1,275,610
Total Revenue per Form 990
$1,275,610
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$710,619
Other Expenses$425,412
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$521,943-$521,943
Pension Plan Contributions-$188,676-$188,676
Occupancy-$95,100-$95,100
All Other Expenses$0$84,828$0$84,828
Fees for Services Accounting-$55,325-$55,325
Information Technology-$53,402-$53,402
Advertising-$15,472-$15,472
Other Expenses-$11,704-$11,704
Insurance-$10,522-$10,522
Depreciation Depletion-$7,739-$7,739
Office Expenses-$1,816-$1,816
Fees for Services Legal-$608-$608
Total Functional Expenses$0$1,136,031$0$1,136,031

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,136,031
Total Expenses per Audited Statements$1,136,031
Total Expenses per Form 990$1,136,031
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Charter School Capital$906,119
Net Pension Liabilty$48,741
Net OPEB Liability-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 1A Delegate broad authority to A committee

The Treasurer, Superintendent, and Board President serves as the financial committee to review financial statements, audit reports, etc..

Form 990, Part VI, Line 11B Review of form 990 by governing body

Copies of the 990 are distributed to the board members for their review and approval in the minutes

Form 990, Part VI, Line 12C Conflict of interest policy

All board members sign an annual conflict of interest statement.

Form 990, Part VI, Line 19 Required documents available to the public

The governing board documents, financial statements, and any policies and resolutions are maintained at the school for public viewing during regular business hours upon written request.

Filing and Contact Details

Filer

Filer Name
T2 Honors Academy
EIN
46-4458417
Phone
2166409551
Address
18450 South Miles Road, Warrensville Heights, OH 44128

Signing Officer

Name
Darlene Holt
Title
Treasurer
Signed
2022-05-05

Organization Details

Formed
2013
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
22
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Prior Period Adjustment related to capital assets - 2383;

Form 990, Part XII, Line 2B

The school is required to have its financials audited annually by an independent auditor. The unaudited financfials have not been relased as of the date of the he filing and preparation of the FY 20 tax return, yet the figures have been reflected and audited.

Form 990, Part XII, Line 2C

The Superintendent, Board President, and Treasurer serves as the finance/audit committee to review and apporove all financials and tax returns. The board approves monthly a Treasurer's report that includes financial activity of the school and important documents to outside agencies such as the IRS and Ohio Department of Education who serves as the schools' oversight agency.

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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0916533
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-817601
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-712085
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt034063
IRS990ScheduleD/EquipmentGrp/DepreciationAmt015113
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt049176
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01136031
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt054658
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Net OPEB Assets
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0906119
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt148741
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Charter School Capital
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Net Pension Liabilty
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net OPEB Liability
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt00
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01275610
IRS990ScheduleD/TotalBookValueLandBuildingsAmt034063
IRS990ScheduleD/TotalBookValueOtherAssetsAmt054658
IRS990ScheduleD/TotalExpensesPerForm990Amt01136031
IRS990ScheduleD/TotalLiabilityAmt0954860
IRS990ScheduleD/TotalRevenuePerForm990Amt01275610
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01275610
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01136031
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/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The School publishes its non-discrimination policy on its website, brochures, and handbooks. Its sponsorship agreement outlines zero tolerance for discrimination
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The school does not offer scholarships or other financial assistance as a basis for enrolling in the school. the school does award a senior who is going to college an award for their good grades. However, this award comes from a contribution from an outside vendor that believes in the school.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2The school is primarily funded with federal and state dollars passed down through the Ohio Department of Education.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 4(d) RECORDS AND COPIES MAINTAINED BY THE ORGANIZATION
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Treasurer, Superintendent, and Board President serves as the financial committee to review financial statements, audit reports, etc..
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Copies of the 990 are distributed to the board members for their review and approval in the minutes
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All board members sign an annual conflict of interest statement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The governing board documents, financial statements, and any policies and resolutions are maintained at the school for public viewing during regular business hours upon written request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Prior Period Adjustment related to capital assets - 2383;
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The school is required to have its financials audited annually by an independent auditor. The unaudited financfials have not been relased as of the date of the he filing and preparation of the FY 20 tax return, yet the figures have been reflected and audited.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The Superintendent, Board President, and Treasurer serves as the finance/audit committee to review and apporove all financials and tax returns. The board approves monthly a Treasurer's report that includes financial activity of the school and important documents to outside agencies such as the IRS and Ohio Department of Education who serves as the schools' oversight agency.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 1a Delegate broad authority to a committee
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 9 Other changes in net assets or fund balances
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Line 2b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XII, Line 2c
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0419268
IRS990/TotalAssetsEOYAmt0510439
IRS990/TotalAssetsGrp/BOYAmt0419268
IRS990/TotalAssetsGrp/EOYAmt0510439
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01150535
IRS990/TotalEmployeeCnt022
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01136031
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01136031
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01234486
IRS990/TotalLiabilitiesEOYAmt01188461
IRS990/TotalLiabilitiesGrp/BOYAmt01234486
IRS990/TotalLiabilitiesGrp/EOYAmt01188461
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-815218
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-678022
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt01107440
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0125075
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01275610
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0419268
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0510439
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt018450 South Miles Road
IRS990/USAddress/CityNm0Warrensville Heights
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044128
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.tsquaredacademy.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Darlene Holt
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0T2 Honors Academy
ReturnHeader/Filer/BusinessNameControlTxt0T2HO
ReturnHeader/Filer/EIN0464458417
ReturnHeader/Filer/PhoneNum02166409551
ReturnHeader/Filer/USAddress/AddressLine1Txt018450 South Miles Road
ReturnHeader/Filer/USAddress/CityNm0Warrensville Heights
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044128
ReturnHeader/ReturnTs02022-05-05T09:03:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Darlene

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