Civic Intelligence

Indiana Virtual Education Foundation Inc

990 • Fiscal year 2017 • EIN 47-5004440

Jul 01, 2016 to Jun 30, 2017 • Filed on May 04, 2017

Organization ProfileWWW.INDIANAVIRTUAL.COM
500 East 96th St Suite 400Indianapolis, IN 46240-3765

(317) 581-5355

Siviq Scores

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

Liabilities / Assets

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

52nd percentile

3.3%

Higher net margin than 52% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

96th percentile

85%

Faster asset growth than 96% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

97th percentile

246%

Faster revenue growth than 97% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets4th percentile

Assets

Up

$1,387,907

Up $638,594 (+85%) from 2016

Net Assets

Up

$1,387,907

Up $638,594 (+85%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue4th percentileNet Margin52nd percentile

Revenue

Up

$20,385,230

Up $14,494,227 (+246%) from 2016

Expenses

Up

$19,705,962

Up $13,893,983 (+239%) from 2016

Net Income

Up

$679,268

Up $600,244 (+760%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2016: $749,313Liabilities 2016: $0Net Assets 2016: $749,3132016Assets 2017: $1,387,907Liabilities 2017: $0Net Assets 2017: $1,387,9072017Assets 2018: $3,383,910Liabilities 2018: $4,692,881Net Assets 2018: -$1,308,9712018

Highlighted filing

2017

Assets$1,387,907
Liabilities$0
Net Assets$1,387,907
Open 2017 Filing

Operations Trend

Revenue Growth97th percentile

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

$40M$30M$20M$10M$0-$10MRevenue 2016: $5,891,003Expenses 2016: $5,811,979Net Income 2016: $79,0242016Revenue 2017: $20,385,230Expenses 2017: $19,705,962Net Income 2017: $679,2682017Revenue 2018: $30,812,607Expenses 2018: $32,960,886Net Income 2018: -$2,148,2792018

Highlighted filing

2017

Revenue$20,385,230
Expenses$19,705,962
Net Income$679,268
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 4, 2017
Return Version
2016v3.1
Gross Receipts
$20,385,230
Mission and Program Overview

Mission

To provide a free online public charter school education to students in the state of indiana including students who have not experienced success in the traditional brick and mortar system.

To provide a free online public charter school to students in the state of indiana

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$651,723$590,854▼ $60,869
Cash and Non-Interest-Bearing Accounts$97,590$564,671▲ $467,081
Prepaid Expenses and Deferred Charges-$232,382-
Total Assets$749,313$1,387,907▲ $638,594
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$734,333$1,357,947▲ $623,614
Temporarily Rstr Net Assets$14,980$29,960▲ $14,980
Total Net Assets Fund Balance$749,313$1,387,907▲ $638,594
Total Liabilities and Net Assets / Fund Balance$749,313$1,387,907▲ $638,594
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Tom StoughtenChairman
Edward ValdetarroSchool Board
Tom KrudySchool Board
Fred EllisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$20,336,381
Program Service Revenue
$39,452
Investment Income
$9,397
Other Revenue
$0
All Other Contributions
$234,162
Change in Net Assets
$679,268
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$19,705,962
Total Fundraising Expense$294,411
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$2,651,181$696,226$56,040$3,403,447
Advertising$966,827-$238,371$1,205,198
Other Expenses$655,564$163,891-$819,455
Fees for Services Accounting$43,541$174,166-$217,707
Occupancy$24,357$127,426-$151,783
Fees for Services Legal$104,881--$104,881
Conferences and Meetings$35,535--$35,535
Insurance$16,905--$16,905
Total Functional Expenses$17,606,150$1,805,401$294,411$19,705,962
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Alphacom IncBoard MemberMgmt ServicesNo$4,145,208
A Simple Reminder LLCFamily-bd MembIt ServicesNo$150,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
Yes
Business relationship with organization members
Yes
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
No
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 9

“Fred ellis 500 east 96th street suite 400 indianapolis, in 46240 tom krudy 500 east 96th street suite 400 indianapolis, in 46240 edward valdetarro 500 east 96th street suite 400 indianapolis, in 46240”

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Indiana Virtual Education
EIN
47-5004440
Phone
3175815355
Address
500 EAST 96TH ST SUITE 400, INDIANAPOLIS, IN 46240-3765
Doing Business As
Indiana Virtual School

Signing Officer

Name
Fred Ellis
Title
Treasurer
Phone
3177702278
Signed
2017-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Stoughten
Legal Domicile
In
Voting Board Members
4
Independent Board Members
3
Employees
0

Preparer

Firm
Huth Thompson Llp
Address
PO BOX 970, LAFAYETTE, IN 47902-0970
Preparer
Kimberley R Morisette
Phone
7654285000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Academy development:gamin 725,000 0 0 instructors 689,577 0 0 business expenses:busines 609,039 0 0 contract services: outsid 0 440,017 0 academy development:baske 282,393 0 0 academy development:latin 275,000 0 0 other types of expenses:s 0 252,500 0 contract services:fundrai 0 0 56,040 instructors:reimbursement 39,893 0 0 iep expense 19,124 0 0 operations:printing and c 2,984 2,985 0 operations:supplies 2,952 738 0 operations:postage, maili 3,448 0 0 travel 1,384 0 0 operations:books, subscri 364 0 0 other types of expenses:o 23 0 0 other types of expenses:b 0 -14 0 total 2,651,181 696,226 56,040”

Raw XML Appendix316 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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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0ALPHACOM INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1A SIMPLE REMINDER LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0THOMAS STOUGHTON IS A BOARD MEMBER OF BOTH INDIANA VIRTUAL EDUCATION FOUNDATION AND ALPHACOM. HE IS ALSO AN EMPLOYEE OF ALPHACOM AND SERVES AS THE SENIOR DEVELOPMENT CONSULTANT FOR THE SCHOOL, BILLED THROUGH ALPHACOM. ALPHACOM PROVIDES MANAGEMENT SERVICES TO THE SCHOOL UNDER A CONTRACT THAT IS RENEWABLE ANNUALLY, AND PROVIDES AN HOURLY BILLING RATE FOR THE KEY PERSONNEL OF THE SCHOOL. IN ADDITION TO THESE SERVICES, ALPHACOM PROVIDES SUPPORT, ADMINISTRATIVE AND TECHNOLOGY SERVICES. THIS BOARD MEMBER ALSO HAS A RELATIONSHIP WITH VENDOR "A SIMPLE REMINDER LLC" IN THAT A FAMILY MEMBER OWNS IT. A SIMPLE REMINDER LLC PROVIDES I.T. SERVICES UNDER CONTRACT TO INDIANA VIRTUAL EDUCATION FOUNDATION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FRED ELLIS 500 EAST 96TH STREET SUITE 400 INDIANAPOLIS, IN 46240 TOM KRUDY 500 EAST 96TH STREET SUITE 400 INDIANAPOLIS, IN 46240 EDWARD VALDETARRO 500 EAST 96TH STREET SUITE 400 INDIANAPOLIS, IN 46240
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACADEMY DEVELOPMENT:GAMIN 725,000 0 0 INSTRUCTORS 689,577 0 0 BUSINESS EXPENSES:BUSINES 609,039 0 0 CONTRACT SERVICES: OUTSID 0 440,017 0 ACADEMY DEVELOPMENT:BASKE 282,393 0 0 ACADEMY DEVELOPMENT:LATIN 275,000 0 0 OTHER TYPES OF EXPENSES:S 0 252,500 0 CONTRACT SERVICES:FUNDRAI 0 0 56,040 INSTRUCTORS:REIMBURSEMENT 39,893 0 0 IEP EXPENSE 19,124 0 0 OPERATIONS:PRINTING AND C 2,984 2,985 0 OPERATIONS:SUPPLIES 2,952 738 0 OPERATIONS:POSTAGE, MAILI 3,448 0 0 TRAVEL 1,384 0 0 OPERATIONS:BOOKS, SUBSCRI 364 0 0 OTHER TYPES OF EXPENSES:O 23 0 0 OTHER TYPES OF EXPENSES:B 0 -14 0 TOTAL 2,651,181 696,226 56,040
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 24E
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IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0749313
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01387907
IRS990/TotalProgramServiceExpensesAmt017606150
IRS990/TotalProgramServiceRevenueAmt039452
IRS990/TotalRevenueGrp/ExclusionAmt09397
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt039452
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt020385230
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0749313
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01387907
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/UnrestrictedNetAssetsGrp/EOYAmt01357947
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IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046240
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.INDIANAVIRTUAL.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FRED ELLIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03177702278
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDIANA VIRTUAL EDUCATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0INDI
ReturnHeader/Filer/EIN0475004440
ReturnHeader/Filer/PhoneNum03175815355
ReturnHeader/Filer/USAddress/AddressLine1Txt0500 EAST 96TH ST SUITE 400
ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd0462403765
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId061F4D47A967BA13F9C78E7CE19C54C0826AAFF4F
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CBF599567D8C22A6D6B199A8ADB1038076E1D541
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0352055043
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HUTH THOMPSON LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 970
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAFAYETTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0479020970
ReturnHeader/PreparerPersonGrp/PhoneNum07654285000
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KIMBERLEY R MORISETTE
ReturnHeader/ReturnTs02018-05-15T09:40:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

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
$1,387,907
Liabilities
$0
Net assets
$1,387,907
Revenue
$20,385,230
Expenses
$19,705,962
Net income
$679,268
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$3.38$4.69$1.31$30.8$33.0$2.15
2017Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$20.4$19.7$0.68
2016Detailed filing. Detailed filing data is available for this year.$0.75$0.00$0.75$5.89$5.81$0.08