Civic Intelligence

Drexel Academy Inc.

990 • Fiscal year 2024 • EIN 47-4345019

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 15, 2025

Organization Profile
1 36th St NorthTulsa, OK 74106

(918) 510-5773

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.47x

Higher debt load relative to assets than 83% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

87th percentile

0.84x

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

3rd percentile

-100%

Higher net margin than 3% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

4th percentile

-36%

Faster asset growth than 4% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-62%

Faster revenue growth than 3% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$1,118,087

Down $632,929 (-36%) from 2023

Net Assets

Down

$588,029

Down $627,786 (-52%) from 2023

Liabilities

Down

$530,058

Down $5,143 (-1.0%) from 2023

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin3rd percentile

Revenue

Down

$627,452

Down $1,033,805 (-62%) from 2023

Expenses

Up

$1,255,238

Up $195,255 (+18%) from 2023

Net Income

Down

-$627,786

Down $1,229,060 (-204%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$3.0M$2.0M$1.0M$0Assets 2016: $140,845Liabilities 2016: $0Net Assets 2016: $140,8452016Assets 2017: $497,527Liabilities 2017: $2,749Net Assets 2017: $494,7782017Assets 2018: $720,009Liabilities 2018: $234Net Assets 2018: $719,7752018Assets 2019: $2,070,564Liabilities 2019: $779,563Net Assets 2019: $1,291,0012019Assets 2020: $1,861,746Liabilities 2020: $824,518Net Assets 2020: $1,037,2282020Assets 2021: $1,337,768Liabilities 2021: $809,806Net Assets 2021: $527,9622021Assets 2022: $1,284,538Liabilities 2022: $669,997Net Assets 2022: $614,5412022Assets 2023: $1,751,016Liabilities 2023: $535,201Net Assets 2023: $1,215,8152023Assets 2024: $1,118,087Liabilities 2024: $530,058Net Assets 2024: $588,0292024Assets 2025: $1,037,718Liabilities 2025: $675,585Net Assets 2025: $362,1332025

Highlighted filing

2024

Assets$1,118,087
Liabilities$530,058
Net Assets$588,029
Open 2024 Filing

Operations Trend

Revenue Growth3rd percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2016: $185,763Expenses 2016: $44,918Net Income 2016: $140,8452016Revenue 2017: $763,832Expenses 2017: $409,899Net Income 2017: $353,9332017Revenue 2018: $766,743Expenses 2018: $541,746Net Income 2018: $224,9972018Revenue 2019: $1,252,028Expenses 2019: $680,799Net Income 2019: $571,2292019Revenue 2020: $528,610Expenses 2020: $782,386Net Income 2020: -$253,7762020Revenue 2021: $285,578Expenses 2021: $794,591Net Income 2021: -$509,0132021Revenue 2022: $1,002,973Expenses 2022: $916,394Net Income 2022: $86,5792022Revenue 2023: $1,661,257Expenses 2023: $1,059,983Net Income 2023: $601,2742023Revenue 2024: $627,452Expenses 2024: $1,255,238Net Income 2024: -$627,7862024Revenue 2025: $1,324,342Expenses 2025: $1,550,238Net Income 2025: -$225,8962025

Highlighted filing

2024

Revenue$627,452
Expenses$1,255,238
Net Income-$627,786
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 15, 2025
Return Version
2023v6.0
Gross Receipts
$627,452
Mission and Program Overview

Mission

Drexel academy is a donor-supported private elementary school that provides an exceptional education to north tulsas historically marginalized community, inspiring the development of servant-leaders who achieve academic, personal and professional success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$996,154$1,063,546▲ $67,392
Cash and Non-Interest-Bearing Accounts$651,216$36,166▼ $615,050
Savings and Temporary Cash Investments$100,941$15,670▼ $85,271
Total Assets$1,751,016$1,118,087▼ $632,929
Other Assets Total$2,705$2,705→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$528,988$530,421▲ $1,433
Accounts Payable and Accrued Expenses$6,213$-363▼ $6,576
Total Liabilities$535,201$530,058▼ $5,143
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$996,154$1,063,546▲ $67,392
Net Assets With Donor Restrictions$219,661$-475,517▼ $695,178
Total Net Assets Fund Balance$1,215,815$588,029▼ $627,786
Total Liabilities and Net Assets / Fund Balance$1,751,016$1,118,087▼ $632,929

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$104,330$3,287$107,617
Buildings$809,941$198,763-
Land$100,273--
Equipment$827$13,530-
Leasehold Improvements$48,175$1,661-
Other Assets Org$2,705--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Bob SullivanBoard Chairman
Tim NewtonPresident
Brad BurdettBoard
Ed HarrisBoard
Kathy CurryBoard
Rev Mc PotterBoard
Sharon StoneBoard
Veronica BickerstaffBoard
David LimekillerBoard Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$612,964
Program Service Revenue
$0
Investment Income
$14,488
Other Revenue
$0
All Other Contributions
$612,964
Change in Net Assets
$-627,786

Audited Revenue Reconciliation

Revenue per Audited Statements
$627,452
Total Revenue per Audited Statements
$627,452
Total Revenue per Form 990
$627,452
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$837,148
Other Expenses$398,359
Total Fundraising Expense$44,845
Professional Fundraising Fees$19,731
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$570,249$167,273$22,810$760,332
Occupancy$180,726$20,081-$200,807
Payroll Taxes$46,846$13,742$1,874$62,462
Depreciation Depletion$40,226--$40,226
Other Expenses$25,861$6,066-$31,927
All Other Expenses$30,981$573-$31,554
Fees for Services Professional Fundraising--$19,731$19,731
Pension Plan Contributions$7,631$2,238$305$10,174
Fees for Services Accounting$2,829$1,966-$4,795
Other Employee Benefits$3,135$920$125$4,180
Total Functional Expenses$996,852$213,541$44,845$1,255,238

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$961,438
Total Expenses per Audited Statements$961,438
Total Expenses per Form 990$961,438
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$19,731
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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
Yes
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 governing body review Part VI line 11

“The governing body reviews the 990 before it is filed.”

Conflict of interest policy compliance Part VI line 12C

“The governing body has a policy for conflicts of interest and reviews its employees and board members as needed.”

CEO executive director top management comp Part VI line 15A

“The board approves all salaries for the school.”

Other officer or key employee compensation Part VI line 15B

“The governing board approves the salaries of all employees.”

Governing documents etc available to public Part VI line 19

“The governing body makes available all current information.”

Filing and Contact Details

Filer

Filer Name
Drexel Academy Inc
EIN
47-4345019
Address
1 36TH ST NORTH, TULSA, OK 74106

Signing Officer

Name
Tim Newton
Title
President
Phone
9189869599
Signed
2025-02-15
Discuss with paid preparer
No

Organization Details

Principal Officer
Tim Newton
Formed
2016
Legal Domicile
Ok
Voting Board Members
12
Independent Board Members
12
Employees
29
Volunteers
10

Preparer

Firm
Ornelas & Morris CPAs PC
Address
5840 S Memorial Ste 315, Tulsa, OK 74145
Preparer
Steve Ornelas
Phone
9186656420
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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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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0100941
IRS990/SavingsAndTempCashInvstGrp/EOYAmt015670
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IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0198763
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt01008704
IRS990ScheduleD/EquipmentGrp/BookValueAmt0827
IRS990ScheduleD/EquipmentGrp/DepreciationAmt013530
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt014357
IRS990ScheduleD/ExpensesSubtotalAmt0961438
IRS990ScheduleD/LandGrp/BookValueAmt0100273
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0100273
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt048175
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01661
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt049836
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02705
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0104330
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03287
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0107617
IRS990ScheduleD/RevenueSubtotalAmt0627452
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01063546
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02705
IRS990ScheduleD/TotalExpensesPerForm990Amt0961438
IRS990ScheduleD/TotalRevenuePerForm990Amt0627452
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0627452
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0961438
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0false
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/PhoneSolicitationsInd0X
IRS990ScheduleG/SolicitationOfNonGovtGrantsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BODY REVIEWS THE 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY HAS A POLICY FOR CONFLICTS OF INTEREST AND REVIEWS ITS EMPLOYEES AND BOARD MEMBERS AS NEEDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD APPROVES ALL SALARIES FOR THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING BOARD APPROVES THE SALARIES OF ALL EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING BODY MAKES AVAILABLE ALL CURRENT INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01118087
IRS990/TotalAssetsGrp/BOYAmt01751016
IRS990/TotalAssetsGrp/EOYAmt01118087
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0612964
IRS990/TotalEmployeeCnt029
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt044845
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0213541
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0996852
IRS990/TotalFunctionalExpensesGrp/TotalAmt01255238
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0535201
IRS990/TotalLiabilitiesEOYAmt0530058
IRS990/TotalLiabilitiesGrp/BOYAmt0535201
IRS990/TotalLiabilitiesGrp/EOYAmt0530058
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01215815
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0588029
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0996852
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt014488
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0627452
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01751016
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01118087
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0TIM NEWTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09189869599
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DREXEL ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0DREX
ReturnHeader/Filer/EIN0474345019
ReturnHeader/Filer/USAddress/AddressLine1Txt01 36TH ST NORTH
ReturnHeader/Filer/USAddress/CityNm0TULSA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OK
ReturnHeader/Filer/USAddress/ZIPCd074106
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0731429132
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Ornelas & Morris CPAs PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05840 S Memorial Ste 315
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Tulsa
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd074145
ReturnHeader/PreparerPersonGrp/PhoneNum09186656420
ReturnHeader/PreparerPersonGrp/PreparationDt02025-02-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Steve Ornelas
ReturnHeader/ReturnTs02025-02-13T11:00:22-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,118,087
Liabilities
$530,058
Net assets
$588,029
Revenue
$627,452
Expenses
$1,255,238
Net income
-$627,786
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.04$0.68$0.36$1.32$1.55$0.23
2024Detailed filing. Detailed filing data is available for this year.$1.12$0.53$0.59$0.63$1.26$0.63
2023Detailed filing. Detailed filing data is available for this year.$1.75$0.54$1.22$1.66$1.06$0.60
2022Detailed filing. Detailed filing data is available for this year.$1.28$0.67$0.61$1.00$0.92$0.09
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$0.81$0.53$0.29$0.79$0.51
2020Detailed filing. Detailed filing data is available for this year.$1.86$0.82$1.04$0.53$0.78$0.25
2019Detailed filing. Detailed filing data is available for this year.$2.07$0.78$1.29$1.25$0.68$0.57
2018Detailed filing. Detailed filing data is available for this year.$0.72$0.00$0.72$0.77$0.54$0.22
2017Detailed filing. Detailed filing data is available for this year.$0.50$0.00$0.49$0.76$0.41$0.35
2016Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.14$0.19$0.04$0.14