Civic Intelligence

Little Oaks Academy

990 • Fiscal year 2023 • EIN 47-2155389

Jul 01, 2022 to Jun 30, 2023 • Filed on Mar 13, 2024

Organization ProfileWWW.LITTLEOAKSACADEMY.ORG
701 E Oak Hill AvenueKnoxville, TN 37917-5437

(865) 545-8322

Siviq Scores

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

Liabilities / Assets

84th percentile

0.50x

Higher debt load relative to assets than 84% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

76th percentile

0.38x

Higher debt load relative to revenue than 76% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

56th percentile

7.2%

Higher net margin than 56% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

58th percentile

$79,934

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

57th percentile

7.2%

Faster asset growth than 57% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

60th percentile

14%

Faster revenue growth than 60% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$1,028,803

Up $69,536 (+7.2%) from 2022

Net Assets

Up

$512,197

Up $99,682 (+24%) from 2022

Liabilities

Down

$516,606

Down $30,146 (-5.5%) from 2022

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin56th percentile

Revenue

Up

$1,375,565

Up $166,821 (+14%) from 2022

Expenses

Up

$1,275,883

Up $185,704 (+17%) from 2022

Net Income

Down

$99,682

Down $18,883 (-16%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2015: $21,846Liabilities 2015: $634Net Assets 2015: $21,2122015Assets 2016: $36,568Liabilities 2016: $87,055Net Assets 2016: -$50,4872016Assets 2017: $19,276Liabilities 2017: $106,452Net Assets 2017: -$87,1762017Assets 2018: $35,462Liabilities 2018: $89,034Net Assets 2018: -$53,5722018Assets 2019: $68,466Liabilities 2019: $78,973Net Assets 2019: -$10,5072019Assets 2020: $777,560Liabilities 2020: $704,435Net Assets 2020: $73,1252020Assets 2021: $938,497Liabilities 2021: $702,216Net Assets 2021: $236,2812021Assets 2022: $959,267Liabilities 2022: $546,752Net Assets 2022: $412,5152022Assets 2023: $1,028,803Liabilities 2023: $516,606Net Assets 2023: $512,1972023Assets 2024: $856,750Liabilities 2024: $481,257Net Assets 2024: $375,4932024Assets 2025: $771,664Liabilities 2025: $438,633Net Assets 2025: $333,0312025

Highlighted filing

2023

Assets$1,028,803
Liabilities$516,606
Net Assets$512,197
Open 2023 Filing

Operations Trend

Revenue Growth60th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2015: $42,769Expenses 2015: $21,557Net Income 2015: $21,2122015Revenue 2016: $707,024Expenses 2016: $763,801Net Income 2016: -$56,7772016Revenue 2017: $772,158Expenses 2017: $810,197Net Income 2017: -$38,0392017Revenue 2018: $756,875Expenses 2018: $730,783Net Income 2018: $26,0922018Revenue 2019: $786,338Expenses 2019: $743,273Net Income 2019: $43,0652019Revenue 2020: $947,856Expenses 2020: $864,224Net Income 2020: $83,6322020Revenue 2021: $1,238,532Expenses 2021: $1,075,375Net Income 2021: $163,1572021Revenue 2022: $1,208,744Expenses 2022: $1,090,179Net Income 2022: $118,5652022Revenue 2023: $1,375,565Expenses 2023: $1,275,883Net Income 2023: $99,6822023Revenue 2024: $1,358,967Expenses 2024: $1,495,670Net Income 2024: -$136,7032024Revenue 2025: $1,497,606Expenses 2025: $1,540,068Net Income 2025: -$42,4622025

Highlighted filing

2023

Revenue$1,375,565
Expenses$1,275,883
Net Income$99,682
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Mar 13, 2024
Return Version
2022v5.0
Gross Receipts
$1,375,565
Mission and Program Overview

Mission

The mission of little oaks academy is to educate and nurture children in a safe, healthy, and stimulating environment where they are encouraged to learn and grow intellectually, socially, emotionally, and physically. The academy serves a diverse community with quality instruction based on developmentally appropriate practices.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$681,447$653,006▼ $28,441
Cash and Non-Interest-Bearing Accounts$265,449$363,426▲ $97,977
Accounts Receivable$11,121$11,121→ $0
Prepaid Expenses and Deferred Charges$1,250$1,250→ $0
Total Assets$959,267$1,028,803▲ $69,536
Liabilities
Mortgage Notes Payable Secured by Investment Property$476,069$439,785▼ $36,284
Other Liabilities$32,900$41,650▲ $8,750
Accounts Payable and Accrued Expenses$11,906$20,294▲ $8,388
Deferred Revenue$25,877$14,877▼ $11,000
Total Liabilities$546,752$516,606▼ $30,146
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$412,515$512,197▲ $99,682
Total Net Assets Fund Balance$412,515$512,197▲ $99,682
Total Liabilities and Net Assets / Fund Balance$959,267$1,028,803▲ $69,536

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$468,094$43,957$512,051
Land$100,000-$100,000
Leasehold Improvements$65,145$10,659$75,804
Equipment$19,767$19,550$39,317
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lisa FirmentExecutive DiFT$79,934$79,934

Board Members and Trustees

NameTitle
Nolen WildfirePresident
Heather RussellDirector
Kelsey OsborneDirector
Kristen FrittsDirector
LAURA O'REARExecutive Di
Taylor RoyaltyTreasurer
Heather WhiteheadVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$306,368
Program Service Revenue
$953,225
Investment Income
$0
Other Revenue
$115,972
Change in Net Assets
$99,682

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,375,565
Total Revenue per Audited Statements
$1,375,565
Total Revenue per Form 990
$1,375,565
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$968,831
Other Expenses$307,052
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$644,712$164,167-$808,879
Payroll Taxes$75,103$4,915-$80,018
Current Officers, Directors, Trustees, and Key Employees$79,934--$79,934
All Other Expenses$45,181$15,217-$60,398
Insurance$28,908$1,565-$30,473
Office Expenses-$29,575-$29,575
Depreciation Depletion$27,806$1,464-$29,270
Fees for Services Accounting-$17,644-$17,644
Interest-$17,044-$17,044
Other Expenses$11,997--$11,997
Total Functional Expenses$1,024,292$251,591$0$1,275,883

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,275,883
Total Expenses per Audited Statements$1,275,883
Total Expenses per Form 990$1,275,883
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
Customer Deposit$41,650
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
Yes
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

“Form 990 is available for review by the governing body. The executive director and treasurer review the form 990 before it is filed.”

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

“The academy regularly monitors and enforces its conflict of interest policy.”

Form 990, Page 6, Part VI, Line 15A

“The governing body approves employee salaries based on experience and knowledge of the field.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Little Oaks Academy
EIN
47-2155389
Phone
8655458322
Address
701 E OAK HILL AVENUE, KNOXVILLE, TN 37917-5437

Signing Officer

Name
LAURA O'REAR
Title
Executive Director
Phone
8655458322
Signed
2024-03-13

Organization Details

Principal Officer
LAURA O'REAR
Formed
2014
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
73
Volunteers
14

Preparer

Firm
Mitchell Emert & Hill Pc
Address
416 ERIN DRIVE, KNOXVILLE, TN 37919-6205
Preparer
James R Cates CPA
Phone
8655222396
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of little oaks academy is to educate and nurture children in a safe, healthy, and stimulating environment where they are encouraged to learn and grow intellectually, socially, emotionally, and physically. The academy serves a diverse community with quality instruction based on developmentally appropriate practices.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The academy believes it has appropriate support for any tax positions taken, and as such, does not ahve any uncertain tax positions that are material to the financial statements.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt041650
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER DEPOSIT
IRS990ScheduleD/RevenueSubtotalAmt01375565
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT AHVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF LITTLE OAKS ACADEMY IS TO EDUCATE AND NURTURE CHILDREN IN A SAFE, HEALTHY, AND STIMULATING ENVIRONMENT WHERE THEY ARE ENCOURAGED TO LEARN AND GROW INTELLECTUALLY, SOCIALLY, EMOTIONALLY, AND PHYSICALLY. THE ACADEMY SERVES A DIVERSE COMMUNITY WITH QUALITY INSTRUCTION BASED ON DEVELOPMENTALLY APPROPRIATE PRACTICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS AVAILABLE FOR REVIEW BY THE GOVERNING BODY. THE EXECUTIVE DIRECTOR AND TREASURER REVIEW THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ACADEMY REGULARLY MONITORS AND ENFORCES ITS CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING BODY APPROVES EMPLOYEE SALARIES BASED ON EXPERIENCE AND KNOWLEDGE OF THE FIELD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LAURA O'REAR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-03-13
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,028,803
Liabilities
$516,606
Net assets
$512,197
Revenue
$1,375,565
Expenses
$1,275,883
Net income
$99,682
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.77$0.44$0.33$1.50$1.54$0.04
2024Detailed filing. Detailed filing data is available for this year.$0.86$0.48$0.38$1.36$1.50$0.14
2023Detailed filing. Detailed filing data is available for this year.$1.03$0.52$0.51$1.38$1.28$0.10
2022Detailed filing. Detailed filing data is available for this year.$0.96$0.55$0.41$1.21$1.09$0.12
2021Detailed filing. Detailed filing data is available for this year.$0.94$0.70$0.24$1.24$1.08$0.16
2020Detailed filing. Detailed filing data is available for this year.$0.78$0.70$0.07$0.95$0.86$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.07$0.08$0.01$0.79$0.74$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.04$0.09$0.05$0.76$0.73$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.02$0.11$0.09$0.77$0.81$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.04$0.09$0.05$0.71$0.76$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.04$0.02$0.02