Civic Intelligence

King Academy Community School Inc.

990 • Fiscal year 2021 • EIN 56-2468311

Jul 01, 2020 to Jun 30, 2021 • Filed on Mar 09, 2022

2015 West North BendCincinnati, OH 45224

(513) 421-7519

Siviq Scores

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

Liabilities / Assets

100th percentile

5.08x

Higher debt load relative to assets than 100% of similar nonprofits.

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

Liabilities / Revenue

88th percentile

1.20x

Higher debt load relative to revenue than 88% of similar nonprofits.

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

Net Margin

54th percentile

15%

Higher net margin than 54% 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

3rd percentile

-28%

Faster asset growth than 3% of similar nonprofits.

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

Revenue Growth

84th percentile

79%

Faster revenue growth than 84% of similar nonprofits.

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

Assets

Down

$340,874

Down $134,151 (-28%) from 2020

Net Assets

Up

-$1,391,776

Up $213,345 (+13%) from 2020

Liabilities

Down

$1,732,650

Down $347,496 (-17%) from 2020

Revenue

Up

$1,437,977

Up $633,628 (+79%) from 2020

Expenses

Down

$1,224,632

Down $63,907 (-5.0%) from 2020

Net Income

Up

$213,345

Up $697,535 (+144%) from 2020

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2012: $555,085Liabilities 2012: $0Net Assets 2012: $555,0852012Assets 2013: $405,617Liabilities 2013: $0Net Assets 2013: $405,6172013Assets 2015: $35,617Liabilities 2015: $0Net Assets 2015: $35,6172015Assets 2016: $209,217Liabilities 2016: $0Net Assets 2016: $209,2172016Assets 2017: -$1,968Liabilities 2017: $0Net Assets 2017: -$1,9682017Assets 2018: $52,616Liabilities 2018: $0Net Assets 2018: $52,6122018Assets 2019: $886,518Liabilities 2019: $2,007,449Net Assets 2019: -$1,120,9312019Assets 2020: $475,025Liabilities 2020: $2,080,146Net Assets 2020: -$1,605,1212020Assets 2021: $340,874Liabilities 2021: $1,732,650Net Assets 2021: -$1,391,7762021Assets 2022: $688,015Liabilities 2022: $2,005,492Net Assets 2022: -$1,317,4772022Assets 2023: $1,198,412Liabilities 2023: $2,199,032Net Assets 2023: -$1,000,6202023

Highlighted filing

2021

Assets$340,874
Liabilities$1,732,650
Net Assets-$1,391,776

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2012: $1,087,786Expenses 2012: $1,269,416Net Income 2012: -$181,6302012Revenue 2013: $960,212Expenses 2013: $1,109,680Net Income 2013: -$149,4682013Revenue 2015: $1,157,675Expenses 2015: $1,271,530Net Income 2015: -$113,8552015Revenue 2016: $1,607,941Expenses 2016: $1,434,341Net Income 2016: $173,6002016Revenue 2017: $1,202,051Expenses 2017: $1,413,236Net Income 2017: -$211,1852017Revenue 2018: $1,521,070Expenses 2018: $1,466,486Net Income 2018: $54,5842018Revenue 2019: $1,266,833Expenses 2019: $1,248,881Net Income 2019: $17,9522019Revenue 2020: $804,349Expenses 2020: $1,288,539Net Income 2020: -$484,1902020Revenue 2021: $1,437,977Expenses 2021: $1,224,632Net Income 2021: $213,3452021Revenue 2022: $1,764,832Expenses 2022: $1,688,285Net Income 2022: $76,5472022Revenue 2023: $1,412,450Expenses 2023: $1,095,593Net Income 2023: $316,8572023

Highlighted filing

2021

Revenue$1,437,977
Expenses$1,224,632
Net Income$213,345
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 9, 2022
Return Version
2020v4.0
Gross Receipts
$1,437,977
Mission and Program Overview

Mission

Our mission is to deliver superior academic and athletic programs that provide students with multiple pathways toward achieving their academic and personal goals. While focusing on the total development of each student and their individual needs our goal is to foster students' self-esteem and desire to learn as we prepare them for success in the 21st Century.

To educate the whole child academically physically morally and aesthetically by stressing academic excellence towards oneself.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$0$93,340▲ $93,340
Cash and Non-Interest-Bearing Accounts$3,375$25,351▲ $21,976
Prepaid Expenses and Deferred Charges$19,235$11,180▼ $8,055
Land, Buildings, and Equipment, Net$98,449$9,415▼ $89,034
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$475,025$340,874▼ $134,151
Other Assets Total$353,966$201,588▼ $152,378
Liabilities
Other Liabilities$1,819,048$1,455,158▼ $363,890
Accounts Payable and Accrued Expenses$260,375$277,492▲ $17,117
Grants Payable$723$0▼ $723
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,080,146$1,732,650▼ $347,496
Net Assets / Fund Balance
Net Assets With Donor Restrictions$115,874$115,663▼ $211
Net Assets Without Donor Restrictions$-1,720,995$-1,507,439▲ $213,556
Total Net Assets Fund Balance$-1,605,121$-1,391,776▲ $213,345
Total Liabilities and Net Assets / Fund Balance$475,025$340,874▼ $134,151

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,415$-406,847-
Other Assets Org$163,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael StarksBoard President
Dwight BrownBoard Vice-President
Monica UtleyBoard Member
Allen ClarkBoard Secretary
Robert JenningsBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,214,777
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$223,200
All Other Contributions
$0
Change in Net Assets
$213,345

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,226,465
Revenue Not Reported on Financial Statements
$211,512
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$211,512
Total Revenue per Audited Statements
$1,226,465
Total Revenue per Form 990
$1,437,977
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,178,595
Salaries, Compensation, and Employee Benefits$46,037
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$496,758$57,498$0$554,256
Information Technology$170,193$0$0$170,193
Travel$97,070$0$0$97,070
Fees for Services Management$0$77,656$0$77,656
Occupancy$53,658$17,886$0$71,544
Fees for Services Legal$0$51,487$0$51,487
Pension Plan Contributions$40,424$5,613$0$46,037
Depreciation Depletion$18,317$6,105$0$24,422
Office Expenses$12,032$6,207$0$18,239
Conferences and Meetings$15,500$0$0$15,500
Total Functional Expenses$983,085$241,547$0$1,224,632

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,224,632
Total Expenses per Form 990$1,224,632
Total Expenses per Audited Statements$1,013,120
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$-211,512
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
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
Federal income taxes$748,005
Deferred Inflows of Resources related to Pension and OPEB$707,153
Net Pension and OPEB Liabilities-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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
Yes

Governance Explanations

Part VI, Line 3

The Academy is ran by Cincinnati Charter School Collaborative who handles all management and instructional staff.

Part VI, Line 4

The Academy changed the students served by moving locations and the grade level of instruction.

Part VI, Line 11A

The form is provided to the Treasurer who shares it with the Board for review.

Part VI, Line 12C

The Board is required to review the conflict of interest policy annually and self report any potential conflicts when they arise.

Filing and Contact Details

Filer

Filer Name
King Academy
EIN
56-2468311
In Care Of
% Michael Ashmore
Phone
5134217519
Address
2015 West North Bend, Cincinnati, OH 45224
Doing Business As
Elevated Excellence Academy

Signing Officer

Name
Michael Ashmore
Title
Treasurer
Signed
2022-03-09
Discuss with paid preparer
No

Organization Details

Formed
2004
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Preparer
Sean Fraunfelter
Phone
5132653045
Supplemental Narrative

Additional Explanations

Part III, line 3

The Academy changed locations and the students it serves while moving from employee based organization to using a management company that provides all instructional personnel.

Part IX, Line 11G

The Academy uses a management company for operation of the school. The instructional staff are paid through the company which is report as professional service fees.

Part XII, Line 2C

At the time of filing the Academy's fiscal year 2021 audit wasn't completed.

Financial Statement Notes

Part XI, line 4B

The Academy reports a negative pension expense for the change in pension opeb liabilities. For the audited financial statements that amount is reported as a negative expense.

Part XII, line 2D

The Academy reports a negative pension expense for the change in pension opeb liabilities. For the audited financial statements that amount is reported as a negative expense.

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IRS990/IRPDocumentCnt046
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IRS990/LandBldgEquipAccumDeprecAmt0406847
IRS990/LandBldgEquipBasisNetGrp/BOYAmt098449
IRS990/LandBldgEquipBasisNetGrp/EOYAmt09415
IRS990/LandBldgEquipCostOrOtherBssAmt0416262
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IRS990/LessRentalExpensesGrp/RealAmt00
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IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MiscellaneousRevenueGrp/ExclusionAmt00
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IRS990/NetIncomeFromGamingGrp/ExclusionAmt00
IRS990/NetIncomeFromGamingGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
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IRS990/PayrollTaxesGrp/FundraisingAmt00
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IRS990/PensionPlanContributionsGrp/FundraisingAmt00
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt019235
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt011180
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Michael Ashmore
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IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
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IRS990/ProgramServiceRevenueGrp/ExclusionAmt40
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt10
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt20

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