Civic Intelligence

Keystone Learning Academy Inc.

990 • Fiscal year 2023 • EIN 61-0668916

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

Organization ProfileWWW.KEYSTONELEARNINGACADEMY.ORG

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1705 S 13th StreetLouisville, KY 40210

(502) 637-3671

Siviq Scores

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

Liabilities / Assets

61st percentile

0.14x

Higher debt load relative to assets than 61% of similar nonprofits.

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

Liabilities / Revenue

51st percentile

0.09x

Higher debt load relative to revenue than 51% of similar nonprofits.

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

Net Margin

30th percentile

-4.5%

Higher net margin than 30% of similar nonprofits.

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

Top Officer Pay

53rd percentile

$67,901

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

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

Asset Growth

17th percentile

-6.9%

Faster asset growth than 17% of similar nonprofits.

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

Revenue Growth

31st percentile

-4.8%

Faster revenue growth than 31% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets61st percentile

Assets

Flat

$685,589

Flat from 2023

Net Assets

Flat

$591,653

Flat from 2023

Liabilities

Flat

$93,936

Flat from 2023

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin30th percentile

Revenue

Flat

$1,021,023

Flat from 2023

Expenses

Flat

$1,067,129

Flat from 2023

Net Income

Flat

-$46,106

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$800K$600K$400K$200K$0Assets 2010: $364,248Liabilities 2010: $61,264Net Assets 2010: $302,9842010Assets 2011: $347,259Liabilities 2011: $61,828Net Assets 2011: $285,4312011Assets 2012: $236,037Liabilities 2012: $83,187Net Assets 2012: $152,8502012Assets 2013: $253,768Liabilities 2013: $117,385Net Assets 2013: $136,3832013Assets 2014: $249,675Liabilities 2014: $73,662Net Assets 2014: $176,0132014Assets 2015: $267,296Liabilities 2015: $68,106Net Assets 2015: $199,1902015Assets 2016: $328,648Liabilities 2016: $46,334Net Assets 2016: $282,3142016Assets 2017: $331,483Liabilities 2017: $44,850Net Assets 2017: $286,6332017Assets 2018: $297,667Liabilities 2018: $40,490Net Assets 2018: $257,1772018Assets 2019: $328,146Liabilities 2019: $53,443Net Assets 2019: $274,7032019Assets 2020: $512,779Liabilities 2020: $54,573Net Assets 2020: $458,2062020Assets 2021: $722,236Liabilities 2021: $118,559Net Assets 2021: $603,6772021Assets 2022: $736,648Liabilities 2022: $98,889Net Assets 2022: $637,7592022Assets 2023: $685,589Liabilities 2023: $93,936Net Assets 2023: $591,6532023Assets 2023: $685,589Liabilities 2023: $93,936Net Assets 2023: $591,6532023

Highlighted filing

2023

Assets$685,589
Liabilities$93,936
Net Assets$591,653
Open 2023 Filing

Operations Trend

Revenue Growth31st percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $904,8092010Revenue 2011: $966,396Expenses 2011: $983,949Net Income 2011: -$17,5532011Expenses 2012: $1,052,3092012Expenses 2013: $1,029,6582013Revenue 2014: $897,663Expenses 2014: $861,685Net Income 2014: $35,9782014Revenue 2015: $784,573Expenses 2015: $761,396Net Income 2015: $23,1772015Revenue 2016: $877,708Expenses 2016: $794,584Net Income 2016: $83,1242016Revenue 2017: $804,288Expenses 2017: $799,969Net Income 2017: $4,3192017Revenue 2018: $812,351Expenses 2018: $841,807Net Income 2018: -$29,4562018Revenue 2019: $864,733Expenses 2019: $847,207Net Income 2019: $17,5262019Revenue 2020: $970,068Expenses 2020: $786,565Net Income 2020: $183,5032020Revenue 2021: $1,058,076Expenses 2021: $912,605Net Income 2021: $145,4712021Revenue 2022: $1,072,472Expenses 2022: $1,038,390Net Income 2022: $34,0822022Revenue 2023: $1,021,023Expenses 2023: $1,067,129Net Income 2023: -$46,1062023Revenue 2023: $1,021,023Expenses 2023: $1,067,129Net Income 2023: -$46,1062023

Highlighted filing

2023

Revenue$1,021,023
Expenses$1,067,129
Net Income-$46,106
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$1,137,484
Mission and Program Overview

Mission

To enrich the lives of children and their families with educational, emotional, and physical development tools by providing high quality, engaging education, for infants through school-aged children.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$87,158$568,081▲ $480,923
Cash and Non-Interest-Bearing Accounts$601,265$84,177▼ $517,088
Prepaid Expenses and Deferred Charges$9,526$19,858▲ $10,332
Pledges and Grants Receivable$2,500--
Accounts Receivable$36,199$214▼ $35,985
Total Assets$736,648$685,589▼ $51,059
Other Assets Total-$13,259-
Liabilities
Other Liabilities$73,447$86,655▲ $13,208
Accounts Payable and Accrued Expenses$25,442$7,281▼ $18,161
Total Liabilities$98,889$93,936▼ $4,953
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$635,259$591,653▼ $43,606
Net Assets With Donor Restrictions$2,500--
Total Net Assets Fund Balance$637,759$591,653▼ $46,106
Total Liabilities and Net Assets / Fund Balance$736,648$685,589▼ $51,059

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$568,081$39,263$607,344
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sharon L HemingwayExecutive DiFT$61,834$6,067$67,901
Daveda BullittAssistant DiFT$44,640$6,067$50,707

Board Members and Trustees

NameTitle
Michelle WyrickPresident
Annie ReidBoard Member
Diane CoxBoard Member
Hernan MujicaBoard Member
Jennifer MooreBoard Member
Leora LeeBoard Member
Hank RobinsonTreasurer
Ellen PrizantVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$158,124
Program Service Revenue
$903,133
Investment Income
$-40,234
Other Revenue
$0
All Other Contributions
$9,374
Change in Net Assets
$-46,106

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,021,023
Total Revenue per Audited Statements
$1,021,023
Total Revenue per Form 990
$1,021,023
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$874,038
Other Expenses$193,091
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$543,190$96,979-$640,169
Current Officers, Directors, Trustees, and Key Employees$105,824--$105,824
Other Employee Benefits$61,416$9,177-$70,593
Payroll Taxes$49,983$7,469-$57,452
Fees for Services Accounting-$36,665-$36,665
Depreciation Depletion$19,566$2,924-$22,490
Insurance$14,541--$14,541
Conferences and Meetings$14,383--$14,383
Other Expenses$4,329$647-$4,976
Fees for Services Other-$3,768-$3,768
Occupancy$2,255$337-$2,592
Interest$279$42-$321
Total Functional Expenses$901,512$165,617$0$1,067,129

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,067,129
Total Expenses per Audited Statements$1,067,129
Total Expenses per Form 990$1,067,129
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
Accrued Payroll and Taxes$73,396
Operating Leases$13,259
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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

“Full review at board meeting”

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

“Through annual reviews and affirmations”

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

“Executive director is evaluated by the board personnel committee”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Keystone Learning Academy Inc
EIN
61-0668916
Phone
5026373671
Address
1705 S 13TH STREET, LOUISVILLE, KY 40210

Signing Officer

Name
Sharon L Hemingway
Title
Executive Director
Phone
5026373671
Signed
2024-05-14

Organization Details

Principal Officer
Sharon L Hemingway
Formed
1970
Legal Domicile
Ky
Voting Board Members
8
Independent Board Members
8
Employees
23
Volunteers
50

Preparer

Firm
Baldwin Cpas Pllc
Address
713 W MAIN ST, RICHMOND, KY 40475-1351
Preparer
Myron D Fisher
Phone
8596269040
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is exempt from federal income tax under section 501(c)(3) of the internal revenue code. In addition, the organization qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(2). Management has concluded that any tax positions that would not meet the more-likely-than-not criterion of fasb asc 740-10 would be immaterial to the financial statements taken as a whole. Accordingly, the accompanying financial statements do not include any provision for uncertain tax positions, and no related interest or penalties have been recorded in the statements of activities or accrued in the statements of financial position.”

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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0568081
IRS990ScheduleD/TotalExpensesPerForm990Amt01067129
IRS990ScheduleD/TotalLiabilityAmt086655
IRS990ScheduleD/TotalRevenuePerForm990Amt01021023
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FULL REVIEW AT BOARD MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THROUGH ANNUAL REVIEWS AND AFFIRMATIONS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE DIRECTOR IS EVALUATED BY THE BOARD PERSONNEL COMMITTEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01705 S 13TH STREET
IRS990/USAddress/CityNm0LOUISVILLE
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd040210
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IRS990/WebsiteAddressTxt0WWW.KEYSTONELEARNINGACADEMY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0SHARON L HEMINGWAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05026373671
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KEYSTONE LEARNING ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0KEYS
ReturnHeader/Filer/EIN0610668916
ReturnHeader/Filer/PhoneNum05026373671
ReturnHeader/Filer/USAddress/AddressLine1Txt01705 S 13TH STREET
ReturnHeader/Filer/USAddress/CityNm0LOUISVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201416603
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BALDWIN CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0713 W MAIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RICHMOND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0404751351

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$685,589
Liabilities
$93,936
Net assets
$591,653
Revenue
$1,021,023
Expenses
$1,067,129
Net income
-$46,106
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.69$0.09$0.59$1.02$1.07$0.05
2023Summary only. Only limited summary data is available for this year.$0.69$0.09$0.59$1.02$1.07$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.74$0.10$0.64$1.07$1.04$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.72$0.12$0.60$1.06$0.91$0.15
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.51$0.05$0.46$0.97$0.79$0.18
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.05$0.27$0.86$0.85$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.30$0.04$0.26$0.81$0.84$0.03
2017Summary only. Only limited summary data is available for this year.$0.33$0.04$0.29$0.80$0.80$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.33$0.05$0.28$0.88$0.79$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.07$0.20$0.78$0.76$0.02
2014Summary only. Only limited summary data is available for this year.$0.25$0.07$0.18$0.90$0.86$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.12$0.14$1.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.24$0.08$0.15$1.05
2011Summary only. Only limited summary data is available for this year.$0.35$0.06$0.29$0.97$0.98$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.06$0.30$0.90