Civic Intelligence

Currey Ingram Academy

990 • Fiscal year 2016 • EIN 62-1296326

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 08, 2017

6544 Murray LaneBrentwood, TN 37027

(615) 507-3167

Siviq Scores

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

Liabilities / Assets

44th percentile

0.21x

Higher debt load relative to assets than 44% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

64th percentile

0.56x

Higher debt load relative to revenue than 64% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

28th percentile

-2.0%

Higher net margin than 28% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

63rd percentile

$298,371

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

15th percentile

-5.4%

Faster asset growth than 15% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

42nd percentile

0.4%

Faster revenue growth than 42% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Assets

Down

$42,385,936

Down $2,430,327 (-5.4%) from 2015

Net Assets

Down

$33,604,820

Down $418,242 (-1.2%) from 2015

Liabilities

Down

$8,781,116

Down $2,012,085 (-19%) from 2015

Revenue

Up

$15,813,913

Up $68,450 (+0.4%) from 2015

Expenses

Down

$16,135,210

Down $366,484 (-2.2%) from 2015

Net Income

Up

-$321,297

Up $434,934 (+58%) from 2015

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $39,263,818Liabilities 2010: $12,571,880Net Assets 2010: $26,691,9382010Assets 2011: $38,818,115Liabilities 2011: $12,179,740Net Assets 2011: $26,638,3752011Assets 2012: $35,845,035Liabilities 2012: $10,195,186Net Assets 2012: $25,649,8492012Assets 2013: $46,343,872Liabilities 2013: $12,952,773Net Assets 2013: $33,391,0992013Assets 2014: $47,499,213Liabilities 2014: $12,806,249Net Assets 2014: $34,692,9642014Assets 2015: $44,816,263Liabilities 2015: $10,793,201Net Assets 2015: $34,023,0622015Assets 2016: $42,385,936Liabilities 2016: $8,781,116Net Assets 2016: $33,604,8202016Assets 2017: $40,783,806Liabilities 2017: $5,965,486Net Assets 2017: $34,818,3202017Assets 2018: $45,195,417Liabilities 2018: $5,652,142Net Assets 2018: $39,543,2752018Assets 2019: $54,107,878Liabilities 2019: $4,350,653Net Assets 2019: $49,757,2252019Assets 2020: $68,583,608Liabilities 2020: $18,655,183Net Assets 2020: $49,928,4252020Assets 2021: $68,664,811Liabilities 2021: $16,569,824Net Assets 2021: $52,094,9872021Assets 2022: $64,472,369Liabilities 2022: $15,270,345Net Assets 2022: $49,202,0242022Assets 2023: $65,842,927Liabilities 2023: $13,497,432Net Assets 2023: $52,345,4952023Assets 2024: $72,881,339Liabilities 2024: $11,930,212Net Assets 2024: $60,951,1272024

Highlighted filing

2016

Assets$42,385,936
Liabilities$8,781,116
Net Assets$33,604,820

Operations Trend

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

$40M$30M$20M$10M$0-$10MExpenses 2010: $12,919,3222010Expenses 2011: $13,815,4852011Expenses 2012: $15,439,2772012Expenses 2013: $16,109,7312013Revenue 2014: $17,472,737Expenses 2014: $16,753,958Net Income 2014: $718,7792014Revenue 2015: $15,745,463Expenses 2015: $16,501,694Net Income 2015: -$756,2312015Revenue 2016: $15,813,913Expenses 2016: $16,135,210Net Income 2016: -$321,2972016Revenue 2017: $16,847,866Expenses 2017: $16,164,114Net Income 2017: $683,7522017Revenue 2018: $20,946,774Expenses 2018: $16,572,633Net Income 2018: $4,374,1412018Revenue 2019: $26,147,305Expenses 2019: $16,359,449Net Income 2019: $9,787,8562019Revenue 2020: $15,287,200Expenses 2020: $15,907,478Net Income 2020: -$620,2782020Revenue 2021: $19,766,895Expenses 2021: $18,634,930Net Income 2021: $1,131,9652021Revenue 2022: $19,770,454Expenses 2022: $21,210,592Net Income 2022: -$1,440,1382022Revenue 2023: $25,240,670Expenses 2023: $24,195,191Net Income 2023: $1,045,4792023Revenue 2024: $30,965,145Expenses 2024: $24,358,478Net Income 2024: $6,606,6672024

Highlighted filing

2016

Revenue$15,813,913
Expenses$16,135,210
Net Income-$321,297
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 8, 2017
Return Version
2015v3.0
Gross Receipts
$16,021,315
Mission and Program Overview

Mission

Currey Ingram Academy is a nonprofit kindergarten through twelfth grade college preparatory school for students with average to above average intelligence who have learning differences.Currey Ingram encourages students to develop effective learning strategies by hiring highly trained teachers who meet the individual educational needs of each student by building on strengths, addressing learning styles and cultivating the confidence necessary for self advocacy. School activities are planned to broaden interests, promote leadership, shape character and develop talents.Establishing partnerships with families and sharing resources with parents, educators and professionals beyond the school are essential to the Currey Ingram experience. Currey Ingram Academy is dedicated to inspiring lifelong learners who enjoy a quality of life that is educationally rewarding and personally fulfilling.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$35,169,162$33,367,556▼ $1,801,606
Investments in Publicly Traded Securities$4,533,121$4,380,241▼ $152,880
Cash and Non-Interest-Bearing Accounts$3,562,274$4,005,655▲ $443,381
Accounts Receivable$221,019$235,632▲ $14,613
Prepaid Expenses and Deferred Charges$193,509$100,475▼ $93,034
Savings and Temporary Cash Investments$89,937$94,581▲ $4,644
Pledges and Grants Receivable$932,682$81,390▼ $851,292
Total Assets$44,816,263$42,385,936▼ $2,430,327
Other Assets Total$114,559$120,406▲ $5,847
Liabilities
Tax Exempt Bond Liabilities$6,948,605$5,699,939▼ $1,248,666
Deferred Revenue$3,002,684$2,620,578▼ $382,106
Other Liabilities$504,796$273,082▼ $231,714
Accounts Payable and Accrued Expenses$337,116$187,517▼ $149,599
Total Liabilities$10,793,201$8,781,116▼ $2,012,085
Net Assets / Fund Balance
Unrestricted Net Assets$30,101,971$30,487,966▲ $385,995
Permanently Rstr Net Assets$2,988,409$3,028,464▲ $40,055
Temporarily Rstr Net Assets$932,682$88,390▼ $844,292
Total Net Assets Fund Balance$34,023,062$33,604,820▼ $418,242
Total Liabilities and Net Assets / Fund Balance$44,816,263$42,385,936▼ $2,430,327

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$29,617,065$12,319,610$41,936,675
Other Land Buildings$280,540$4,768,885$5,049,425
Land$2,986,766-$2,986,766
Leasehold Improvements$431,804$614,530$1,046,334
Equipment$51,381$186,692$238,073

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$4,608,884$40,055▼ $28,854$173,918$4,446,167
2014$2,968,600$1,640,284--$4,608,884
2013$2,809,876$158,724--$2,968,600
2012$2,800,626$9,250--$2,809,876
2011$2,796,190$4,436--$2,800,626
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Jeffrey MitchellHead of SchoolFT$228,375$69,996$298,371
Chad J HandshyAsst Head of ScFT$175,661$9,383$185,044
Dr Jane HannahAsst Head of ScFT$111,165$5,986$117,151
G Miller Hogan IiPast President/Ombudsman-$24,530-$24,530

Highest Paid Contractors

ContractorServicesLocationCompensation
Sodexo INC & AffiliatesDining ServicesPO BOX 536922, Atlanta, GA 30353$766,697
School Facility Management LLCGrounds & Maintenance800 18TH AVE SOUTH STE A, Nashville, TN 37203$365,779
Servicefm LLCCustodial Services800 18TH AVE S STE A, Nashville, TN 37203$300,838
Apple Financial ServicesComputer Lease & ServicesPO BOX 74238, Cleveland, OH 44194$149,219
Revenue and Support

Revenue Composition

Contributions and Grants
$1,760,347
Program Service Revenue
$13,815,651
Investment Income
$85,745
Other Revenue
$152,170
All Other Contributions
$1,637,267
Change in Net Assets
$-321,297

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table106$26,756Fair Market Value (FMV)
Securities Publicly Traded1$10,012Fair Market Value (FMV)
Total Noncash Contributions107$36,768-

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,202,491
Revenue Not Reported on Financial Statements
$1,611,422
Revenue Not Reported on Form 990
$-33,073
Other Revenue Adjustments
$1,611,422
Total Revenue per Audited Statements
$14,169,418
Total Revenue per Form 990
$15,813,913
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,435,598
Other Expenses$6,081,753
Grants and Similar Amounts Paid$1,617,859
Total Fundraising Expense$237,719
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,022,297$594,334$92,679$6,709,310
Depreciation Depletion$2,033,203--$2,033,203
Grants to Domestic Individuals$1,611,422--$1,611,422
All Other Expenses$545,716$20,581$40,042$606,339
Other Employee Benefits$471,393$25,039$5,859$502,291
Payroll Taxes$469,219$24,924$5,833$499,976
Current Officers, Directors, Trustees, and Key Employees$385,146$38,010$5,927$429,083
Occupancy$375,862--$375,862
Pension Plan Contributions$276,794$14,703$3,441$294,938
Interest$211,230$30,876-$242,106
Other Expenses$206,724$98,447$6,662$206,724
Office Expenses$150,977$48,801$2,541$202,319
Fees for Services Other$160,832$34,407$1,100$196,339
Advertising$127,220-$63,876$191,096
Insurance$132,068--$132,068
Information Technology$45,294$673-$45,967
Fees for Services Legal$10,354$23,277-$33,631
Fees for Services Accounting-$29,400-$29,400
Foreign Grants$6,437--$6,437
Total Functional Expenses$14,641,284$1,256,207$237,719$16,135,210

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$16,135,210
Total Expenses per Audited Statements$14,587,660
Expenses per Audited Statements$14,523,788
Expenses Not Reported on Financial Statements$1,611,422
Other Expense Adjustments$1,611,422
Expenses Not Reported on Form 990$63,872
International Activity

International Summary

Offices
0
Employees
0
Spending
$0

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$63,872
Fundraising Gross Income$51,608
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Celebration of the Arts$94,819$38,676$27,003$11,673
Henderson Golf Memorial Tournament$79,869$12,932$2,419$10,513
Total Events$174,688$51,608$63,872$-12,264
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
G Miller Hogan IiBoard MemberLegal ServicesNo$20,798
Nancy ZoreticFormer Board MemberSecondary Banking FeesNo$1,163
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Obligation$146,610
Interest Rate Swap Agreement$126,472

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIdb Williamson Cty Tn2008-11-20$7,000,000Construct upperschool & gym
BIdb Williamson Cty Tn2009-10-20$6,105,000Refund 2003 bond issue price
CIdb Williamson Cty Tn2013-05-03$4,100,000EDUCATIONAL FACILITIES

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$6,105,000-$4,914,124$30,075
B--$2,515,000-
C--$2,575,937-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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 family members
No
Business relationship with organization members
Yes
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, Part VI, Section A, line 1

The executive committee shall have the power to act on behalf of the board of trustees in emergency situations requiring immediate action. Minutes of all executive committee meetings will be mailed to board members, except for meetings or portions of meetings which are declared executive sessions by the committee chair.

Form 990, Part VI, Section B, line 11

A draft copy of the 990 will be e-mailed to the board of trust for reveiw before filing.

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

Board members are required to sign an annual code of ethics statement which solidifies their commitment to the board. Board members agree to refrain from voting on matters in which there is a conflict. If a conflict is escalated it is handled on a case by case basis by the remaining board members.

Form 990, Part VI, Section B, line 15

The executive committee of the board determines the salary for the head of school. The head of the school determines salaries for all employees. The compensation is determined first from the budget amount allocated in total by the board. Then the contract amount per individual is based on duties, comparable industry standards, education, and experience.

Form 990, Part VI, Section C, line 19

Governing documents, grievance policy, conflict of interest policy and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Currey Ingram Academy
EIN
62-1296326
Phone
6155073167
Address
6544 Murray Lane, Brentwood, TN 37027

Signing Officer

Name
Dr Jeffrey L Mitchell
Title
Head of School
Phone
6155073167
Signed
2017-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr JEFFREY L MITCHELL
Formed
1968
Legal Domicile
Tn
Voting Board Members
18
Independent Board Members
18
Employees
232
Volunteers
125

Preparer

Firm
Frasier Dean & Howard Pllc
Address
3310 West End Ave Ste 550, Nashville, TN 37203
Preparer
Stephen T Dolan
Phone
6153836592
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1 Organization'S mission

Currey Ingram Academy is a primary through twelfth grade independent college preparatory school. Currey Ingram provides an environment rich in opportunities for students who have unique learning styles. The educational program is structured for students to achieve a high standard of academic excellence through personalized instruction within the framework of the curriculum designed for superior to average learners. Currey Ingram encourages students to develop effective learning strategies by hiring highly trained teachers who meet the individual educational needs of each student by building on strengths, addressing learning styles and cultivating the confidence necessary for self advocacy. School activities are planned to broaden interests, promote leadership, shape character and develop talents. Establishing partnerships with families and sharing resources with parents, educators and professionals beyond the school are essential to the Currey Ingram experience. Currey Ingram Academy is dedicated to inspiring lifelong learners who enjoy a quality of life that is educationally rewarding and personally fulfilling.

Form 990, Part IX, line 11G

OTHER FEES: Program service expenses 24,964. Management and general expenses 3,649. Fundraising expenses 0. Total expenses 28,613. CONSULTING: Program service expenses 135,868. Management and general expenses 30,758. Fundraising expenses 1,100. Total expenses 167,726.

Form 990, Part IX, line 24E

STUDENT ACTIVITIES: Program service expenses 176,077. Management and general expenses 1,300. Fundraising expenses 10,723. Total expenses 188,100. MISCELLANEOUS: Program service expenses 98,793. Management and general expenses 6,555. Fundraising expenses 21,930. Total expenses 127,278. TUITION REFUND PROGRAM: Program service expenses 101,117. Management and general expenses 0. Fundraising expenses 0. Total expenses 101,117. BAD DEBTS: Program service expenses 57,762. Management and general expenses 0. Fundraising expenses 0. Total expenses 57,762. PROFESSIONAL DEVELOPMENT: Program service expenses 47,741. Management and general expenses 8,105. Fundraising expenses 1,369. Total expenses 57,215. DUES & SUBSCRIPTIONS: Program service expenses 26,953. Management and general expenses 2,272. Fundraising expenses 2,891. Total expenses 32,116. BOARD & SCHOOL HOSPITALITY: Program service expenses 17,348. Management and general expenses 1,037. Fundraising expenses 3,129. Total expenses 21,514. ATHLETICS: Program service expenses 17,935. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,935. PERMITS & LICENSES: Program service expenses 1,990. Management and general expenses 1,312. Fundraising expenses 0. Total expenses 3,302.

Financial Statement Notes

Part V, Line 4:

THE ACADEMY HAS A POLICY OF APPROPRIATING an annual distribution up to 4% of the three year historical average of the endowment fund for scholarships and financial assistance.

Part X, Line 2:

The Academy is a not-for-profit organization and is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and is not a private foundation. Accordingly, no provision for income taxes is included in the accompanying financial statements. The Academy follows FASB ASC guidance clarifying the accounting for uncertainty in income taxes recognized in an entitys financial statements. This guidance prescribes a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. The minimum threshold is defined as a tax position that is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likey of being recognized upon ultimate settlement. The Academy has no tax penalties or interest reported in the accompanying financial statements. Tax years that remain open for examination include years ended June 30, 2014 through June 30, 2016.

Part XI, Line 2D - Other Adjustments:

Special event expenses 63,872.

Part XI, Line 4B - Other Adjustments:

Financial aid/scholarships 1,611,422.

Part XII, Line 2D - Other Adjustments:

Special event expenses 63,872.

Part XII, Line 4B - Other Adjustments:

Financial aid/scholarships 1,611,422.

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IRS990/Desc0Currey Ingram Academy is a nonprofit kindergarten through twelfth grade college preparatory school of approximately 320 students with average to above average intelligence who have learning differences.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt1Past President/Ombudsman
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7PResident
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt12FIRST VP
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IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUStee
IRS990/Form990PartVIISectionAGrp/TitleTxt18ASST HEAD OF SC
IRS990/Form990PartVIISectionAGrp/TitleTxt19ASST HEAD OF SC
IRS990/Form990PartVIISectionAGrp/TitleTxt20HEAD OF SCHOOL
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IRS990/FSAuditedInd01
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IRS990/IndoorTanningServicesInd00
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IRS990/InfoInScheduleOPartIXInd0X
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IRS990/OtherExpensesGrp/Desc0CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc1FOOD EXPENSE
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IRS990/OtherExpensesGrp/FundraisingAmt12057
IRS990/OtherExpensesGrp/FundraisingAmt26662
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0215201
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IRS990/OtherExpensesGrp/ProgramServicesAmt2197139
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt092679
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0594334
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt06022297
IRS990/OtherSalariesAndWagesGrp/TotalAmt06709310

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$72.9$11.9$61.0$31.0$24.4$6.61
2023Detailed filing. Detailed filing data is available for this year.$65.8$13.5$52.3$25.2$24.2$1.05
2022Detailed filing. Detailed filing data is available for this year.$64.5$15.3$49.2$19.8$21.2$1.44
2021Detailed filing. Detailed filing data is available for this year.$68.7$16.6$52.1$19.8$18.6$1.13
2020Detailed filing. Detailed filing data is available for this year.$68.6$18.7$49.9$15.3$15.9$0.62
2019Detailed filing. Detailed filing data is available for this year.$54.1$4.35$49.8$26.1$16.4$9.79
2018Detailed filing. Detailed filing data is available for this year.$45.2$5.65$39.5$20.9$16.6$4.37
2017Detailed filing. Detailed filing data is available for this year.$40.8$5.97$34.8$16.8$16.2$0.68
2016Detailed filing. Detailed filing data is available for this year.$42.4$8.78$33.6$15.8$16.1$0.32
2015Detailed filing. Detailed filing data is available for this year.$44.8$10.8$34.0$15.7$16.5$0.76
2014Detailed filing. Detailed filing data is available for this year.$47.5$12.8$34.7$17.5$16.8$0.72
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.3$13.0$33.4$16.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.8$10.2$25.6$15.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.8$12.2$26.6$13.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.3$12.6$26.7$12.9