Civic Intelligence

Ace Preparatory Inc.

990 • Fiscal year 2017 • EIN 47-3128337

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

Organization ProfileWWW.ACEPREPACADEMY.ORG
5326 Hillside AveIndianapolis, IN 46220

(317) 744-9847

Siviq Scores

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

Liabilities / Assets

79th percentile

0.35x

Higher debt load relative to assets than 79% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

67th percentile

0.11x

Higher debt load relative to revenue than 67% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

86th percentile

35%

Higher net margin than 86% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

71st percentile

$59,523

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 6.1% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

98th percentile

379%

Faster asset growth than 98% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

98th percentile

379%

Faster revenue growth than 98% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$312,868

Up $247,584 (+379%) from 2016

Net Assets

Up

$204,444

Up $340,375 (+250%) from 2016

Liabilities

Down

$108,424

Down $92,791 (-46%) from 2016

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin86th percentile

Revenue

Up

$970,760

Up $767,991 (+379%) from 2016

Expenses

Up

$630,385

Up $53,123 (+9.2%) from 2016

Net Income

Up

$340,375

Up $714,868 (+191%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2015: $244,389Liabilities 2015: $5,827Net Assets 2015: $238,5622015Assets 2016: $65,284Liabilities 2016: $201,215Net Assets 2016: -$135,9312016Assets 2017: $312,868Liabilities 2017: $108,424Net Assets 2017: $204,4442017Assets 2018: $387,021Liabilities 2018: $194,663Net Assets 2018: $192,3582018Assets 2019: $473,641Liabilities 2019: $368,551Net Assets 2019: $105,0902019Assets 2020: $250,565Liabilities 2020: $215,656Net Assets 2020: $34,9092020Assets 2021: $389,202Liabilities 2021: $296,973Net Assets 2021: $92,2292021Assets 2022: $4,058,391Liabilities 2022: $3,586,152Net Assets 2022: $472,2392022Assets 2023: $3,812,056Liabilities 2023: $3,372,261Net Assets 2023: $439,7952023Assets 2024: $3,452,753Liabilities 2024: $3,407,730Net Assets 2024: $45,0232024

Highlighted filing

2017

Assets$312,868
Liabilities$108,424
Net Assets$204,444
Open 2017 Filing

Operations Trend

Revenue Growth98th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $286,149Expenses 2015: $47,587Net Income 2015: $238,5622015Revenue 2016: $202,769Expenses 2016: $577,262Net Income 2016: -$374,4932016Revenue 2017: $970,760Expenses 2017: $630,385Net Income 2017: $340,3752017Revenue 2018: $1,415,308Expenses 2018: $1,427,394Net Income 2018: -$12,0862018Revenue 2019: $1,183,570Expenses 2019: $1,270,838Net Income 2019: -$87,2682019Revenue 2020: $811,624Expenses 2020: $867,380Net Income 2020: -$55,7562020Revenue 2021: $1,711,066Expenses 2021: $1,653,746Net Income 2021: $57,3202021Revenue 2022: $2,553,518Expenses 2022: $2,173,508Net Income 2022: $380,0102022Revenue 2023: $2,328,140Expenses 2023: $2,360,584Net Income 2023: -$32,4442023Revenue 2024: $1,663,448Expenses 2024: $2,058,220Net Income 2024: -$394,7722024

Highlighted filing

2017

Revenue$970,760
Expenses$630,385
Net Income$340,375
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$970,760
Mission and Program Overview

Mission

Through rigorous academics, positive character development, and excellence in everything we do, ace preparatory academy charter school educates kindergarten through grade 5 students for school success and lives of opportunity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$154,679▲ $154,679
Cash and Non-Interest-Bearing Accounts$65,284$153,097▲ $87,813
Prepaid Expenses and Deferred Charges-$5,092-
Total Assets$65,284$312,868▲ $247,584
Liabilities
Other Liabilities$93,000$88,001▼ $4,999
Accounts Payable and Accrued Expenses$108,215$20,423▼ $87,792
Total Liabilities$201,215$108,424▼ $92,791
Net Assets / Fund Balance
Unrestricted Net Assets$-135,931$204,444▲ $340,375
Total Net Assets Fund Balance$-135,931$204,444▲ $340,375
Total Liabilities and Net Assets / Fund Balance$65,284$312,868▲ $247,584

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$154,679$36,289$190,968
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Anna ShultsPrincipalFT$59,523$59,523

Board Members and Trustees

NameTitle
John ShertzerChair
Anne EatonVice Chair
Chasity ThompsonMember
Elana ThompsonMember
Julie WrightMember as of October 2017
Mark ShreveSecretary
Andrea McgordonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$838,406
Program Service Revenue
$0
Investment Income
$68
Other Revenue
$132,286
All Other Contributions
$120,716
Change in Net Assets
$340,375
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$346,822
Salaries, Compensation, and Employee Benefits$283,563
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$198,205$16,215-$214,420
Occupancy$64,054--$64,054
Current Officers, Directors, Trustees, and Key Employees$59,523--$59,523
Office Expenses$36,277$140-$36,417
Depreciation Depletion$36,029--$36,029
Insurance$29,070--$29,070
All Other Expenses$26,403--$26,403
Other Expenses$8,785$8,784-$17,569
Fees for Services Other$9,350$4,766-$14,116
Advertising$14,104--$14,104
Fees for Services Accounting-$9,500-$9,500
Information Technology$9,230--$9,230
Other Employee Benefits$518$3,327-$3,845
Payroll Taxes$1,740$1,194-$2,934
Pension Plan Contributions$1,134$1,707-$2,841
Interest-$798-$798
Travel$518--$518
Total Functional Expenses$561,264$69,121$0$630,385
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
Line of Credit$88,001
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is provided to board members and they are provided time to comment or raise concerns. Any comments or concerns must be addressed to the board member's satisfaction and if necessary we file for an extension, but if none are raised the form is filed as prepared.”

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

“Any opportunities that would lead to a potential conflict of interest between the board of directors and school related business, partnerships, and/or financial matters are fully divulged, vetted, and upheld to ensure the utmost level of compliance. Board members sign an annual conflict of interest statement that remains on file at the school, as well as gets submitted to the charter authorizing body, and is reviewed throughout the year on an as-needed basis.”

Form 990, Part VI, Section C, Line 19

“A copy of the board minutes and financial statements are provided to anyone who attends the monthly board meetings. These meetings are open to the public and do not require board member status to attend. The governing documents, conflict of interest policy, and form 990 are available upon request.”

Filing and Contact Details

Filer

Filer Name
Ace Preparatory Inc
EIN
47-3128337
Phone
3177449847
Address
5326 HILLSIDE AVE, INDIANAPOLIS, IN 46220

Signing Officer

Name
Anna Shults
Title
Principal
Phone
3177449847
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anna Shults
Formed
2015
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
12
Volunteers
22

Preparer

Firm
Cliftonlarsonallen Llp
Address
9365 COUNSELORS ROW STE 200, INDIANAPOLIS, IN 46240
Preparer
Kimberly Anderson CPA
Phone
3175749100
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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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IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd00
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SOME MARKETING ITEMS THAT ENCOURAGE ENROLLMENT DO NOT INCLUDE ACE PREPARATORY'S NONDISCRIMINATORY STATEMENT ACE PREPARATORY HAS NOT WIDELY PROMOTED SUCH A POLICY IN THE MANNER DESCRIBED. BY LAW, THE ENROLLMENT POLICIES FOR CHARTERS ARE NONDISCIMINATORY IN THEMSELVES, SO WE UPHOLD THE FULL INTENT AND SPIRIT OF THAT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1ACE PREPARATORY IS TUITION FREE AND DOES NOT PROVIDE FINANCIAL ASSISTANCE OR SCHOLARSHIPS
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION RECEIVES STATE AID AND STATE GRANTS.
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 FORM 990 IS PROVIDED TO BOARD MEMBERS AND THEY ARE PROVIDED TIME TO COMMENT OR RAISE CONCERNS. ANY COMMENTS OR CONCERNS MUST BE ADDRESSED TO THE BOARD MEMBER'S SATISFACTION AND IF NECESSARY WE FILE FOR AN EXTENSION, BUT IF NONE ARE RAISED THE FORM IS FILED AS PREPARED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY OPPORTUNITIES THAT WOULD LEAD TO A POTENTIAL CONFLICT OF INTEREST BETWEEN THE BOARD OF DIRECTORS AND SCHOOL RELATED BUSINESS, PARTNERSHIPS, AND/OR FINANCIAL MATTERS ARE FULLY DIVULGED, VETTED, AND UPHELD TO ENSURE THE UTMOST LEVEL OF COMPLIANCE. BOARD MEMBERS SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT THAT REMAINS ON FILE AT THE SCHOOL, AS WELL AS GETS SUBMITTED TO THE CHARTER AUTHORIZING BODY, AND IS REVIEWED THROUGHOUT THE YEAR ON AN AS-NEEDED BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE BOARD MINUTES AND FINANCIAL STATEMENTS ARE PROVIDED TO ANYONE WHO ATTENDS THE MONTHLY BOARD MEETINGS. THESE MEETINGS ARE OPEN TO THE PUBLIC AND DO NOT REQUIRE BOARD MEMBER STATUS TO ATTEND. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FORM 990 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0561264
IRS990/TotalFunctionalExpensesGrp/TotalAmt0630385
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IRS990/TotalLiabilitiesGrp/EOYAmt0108424
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IRS990/TravelGrp/TotalAmt0518
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/WebsiteAddressTxt0WWW.ACEPREPACADEMY.ORG
IRS990/WhistleblowerPolicyInd01
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRINCIPAL
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ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-15
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.137.57.251
ReturnHeader/FilingSecurityInformation/IPDt02018-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:39:11
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09365 COUNSELORS ROW STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046240
ReturnHeader/PreparerPersonGrp/PhoneNum03175749100
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KIMBERLY ANDERSON CPA
ReturnHeader/ReturnTs02018-11-15T15:58:40-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$312,868
Liabilities
$108,424
Net assets
$204,444
Revenue
$970,760
Expenses
$630,385
Net income
$340,375
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.45$3.41$0.05$1.66$2.06$0.39
2023Detailed filing. Detailed filing data is available for this year.$3.81$3.37$0.44$2.33$2.36$0.03
2022Detailed filing. Detailed filing data is available for this year.$4.06$3.59$0.47$2.55$2.17$0.38
2021Detailed filing. Detailed filing data is available for this year.$0.39$0.30$0.09$1.71$1.65$0.06
2020Summary only. Only limited summary data is available for this year.$0.25$0.22$0.03$0.81$0.87$0.06
2019Summary only. Only limited summary data is available for this year.$0.47$0.37$0.11$1.18$1.27$0.09
2018Summary only. Only limited summary data is available for this year.$0.39$0.19$0.19$1.42$1.43$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.31$0.11$0.20$0.97$0.63$0.34
2016Summary only. Only limited summary data is available for this year.$0.07$0.20$0.14$0.20$0.58$0.37
2015Summary only. Only limited summary data is available for this year.$0.24$0.01$0.24$0.29$0.05$0.24