Civic Intelligence

Olivet Academy

990 • Fiscal year 2020 • EIN 81-0683419

Jan 01, 2020 to Dec 31, 2020 • Filed on Dec 16, 2021

Organization Profileolivetacademy.org
425 Morse Hill RdAmenia, NY 12501

(845) 250-2231

Siviq Scores

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

Liabilities / Assets

85th percentile

0.74x

Higher debt load relative to assets than 85% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

88th percentile

1.03x

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

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Net Margin

85th percentile

33%

Higher net margin than 85% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

38th percentile

$22,668

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Asset Growth

99th percentile

945%

Faster asset growth than 99% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

95th percentile

170%

Faster revenue growth than 95% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$3,703,033

Up $3,348,703 (+945%) from 2019

Net Assets

Up

$976,046

Up $895,114 (+1106%) from 2019

Liabilities

Up

$2,726,987

Up $2,453,589 (+897%) from 2019

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin85th percentile

Revenue

Up

$2,643,226

Up $1,665,144 (+170%) from 2019

Expenses

Up

$1,760,138

Up $823,282 (+88%) from 2019

Net Income

Up

$883,088

Up $841,862 (+2042%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$6.0M$4.0M$2.0M$0Assets 2015: $4,384Liabilities 2015: $2,0002015Assets 2019: $354,330Liabilities 2019: $273,398Net Assets 2019: $80,9322019Assets 2020: $3,703,033Liabilities 2020: $2,726,987Net Assets 2020: $976,0462020Assets 2021: $4,147,907Liabilities 2021: $2,849,131Net Assets 2021: $1,298,7762021Assets 2022: $4,082,307Liabilities 2022: $2,754,437Net Assets 2022: $1,327,8702022Assets 2023: $4,272,858Liabilities 2023: $2,914,723Net Assets 2023: $1,358,1352023Assets 2024: $4,280,865Liabilities 2024: $2,857,051Net Assets 2024: $1,423,8142024

Highlighted filing

2020

Assets$3,703,033
Liabilities$2,726,987
Net Assets$976,046
Open 2020 Filing

Operations Trend

Revenue Growth95th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2015: $22,525Expenses 2015: $20,141Net Income 2015: $2,3842015Revenue 2019: $978,082Expenses 2019: $936,856Net Income 2019: $41,2262019Revenue 2020: $2,643,226Expenses 2020: $1,760,138Net Income 2020: $883,0882020Revenue 2021: $2,755,116Expenses 2021: $2,657,530Net Income 2021: $97,5862021Revenue 2022: $2,430,467Expenses 2022: $2,401,373Net Income 2022: $29,0942022Revenue 2023: $2,636,568Expenses 2023: $2,606,303Net Income 2023: $30,2652023Revenue 2024: $3,494,333Expenses 2024: $3,428,654Net Income 2024: $65,6792024

Highlighted filing

2020

Revenue$2,643,226
Expenses$1,760,138
Net Income$883,088
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Dec 16, 2021
Return Version
2020v4.0
Gross Receipts
$2,643,226
Mission and Program Overview

Mission

To glorify God by guiding students to the knowledge of the gospel of Jesus Christ by presenting a Christ-centered worldview through proper biblical integration. Seeks to promote spiritual growth and encourage

mission is to glorify god by guiding students in the gospel of jesus christ br promoting spiritual growth and persuing excellence

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$23,504$3,651,124▲ $3,627,620
Pledges and Grants Receivable$110,000--
Cash and Non-Interest-Bearing Accounts$220,826$51,909▼ $168,917
Total Assets$354,330$3,703,033▲ $3,348,703
Liabilities
Mortgage Notes Payable Secured by Investment Property-$2,310,288-
Other Liabilities$259,555$410,949▲ $151,394
Unsecured Notes Loans Payable$13,843--
Accounts Payable and Accrued Expenses-$5,750-
Total Liabilities$273,398$2,726,987▲ $2,453,589
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$80,932$976,046▲ $895,114
Total Net Assets Fund Balance$80,932$976,046▲ $895,114
Total Liabilities and Net Assets / Fund Balance$354,330$3,703,033▲ $3,348,703

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,909,022$6,154$2,915,176
Land$728,794-$728,794
Other Land Buildings$10,502$21,923$32,425
Equipment$2,806$21,305$24,111
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseTotal
John VivianMiddle School PrincipaFT$22,668$22,668
Jen Yan KhorPrincipalFT$13,000$13,000

Board Members and Trustees

NameTitle
Marian RebroChairman
Lenka GoropevsekTrustee
Haejo YimSecretary
Anabela BartovicTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,034,104
Program Service Revenue
$609,122
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,034,104
Change in Net Assets
$883,088
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,115,724
Other Expenses$624,436
Grants and Similar Amounts Paid$19,978
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$823,887$145,392-$969,279
Occupancy$90,000$22,500-$112,500
Fees for Services Other$77,442$10,150-$87,592
Payroll Taxes$63,072$13,806-$76,878
Office Expenses$33,404$8,351-$41,755
Current Officers, Directors, Trustees, and Key Employees-$35,668-$35,668
Other Employee Benefits$33,899--$33,899
Insurance-$21,560-$21,560
Travel$18,200$3,212-$21,412
Other Expenses$28,554$20,418-$20,418
Grants to Domestic Orgs$19,978--$19,978
Advertising$18,900--$18,900
Depreciation Depletion-$17,461-$17,461
Interest-$12,641-$12,641
Fees for Services Legal-$6,999-$6,999
Fees for Services Accounting-$1,365-$1,365
Total Functional Expenses$1,282,082$478,056$0$1,760,138
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
World Olivet AssemblyDover Plains, NY501c3Ministry Support$13,700
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
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
No

Governance Explanations

Part VI Line 11B

“Once the Form 990 has been prepared, it is reviewed by management and then”

Part VI Line 11B

“electronically distributed to the board members for review and comments.”

Part VI Line 12C

“The entity requests each board member to annually review the conflict of”

Part VI Line 12C

“interest policy and indicate whether any conflict of interest exists.”

Part VI Line 19

“These documents are available to the public upon request by calling the”

Part VI Line 19

“school.”

Filing and Contact Details

Filer

Filer Name
Olivet Academy
EIN
81-0683419
In Care Of
% JEN YAN KHOR
Phone
8452502231
Address
425 MORSE HILL RD, AMENIA, NY 12501

Signing Officer

Name
Jen Yan Khor
Title
Principal
Phone
8452502231
Signed
2021-12-16

Organization Details

Principal Officer
Jenyan Khor
Formed
2015
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
45
Volunteers
10
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Once the Form 990 has been prepared, it is reviewed by management and then
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1electronically distributed to the board members for review and comments.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The entity requests each board member to annually review the conflict of
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3interest policy and indicate whether any conflict of interest exists.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4These documents are available to the public upon request by calling the
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5school.
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,703,033
Liabilities
$2,726,987
Net assets
$976,046
Revenue
$2,643,226
Expenses
$1,760,138
Net income
$883,088
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.28$2.86$1.42$3.49$3.43$0.07
2023Detailed filing. Detailed filing data is available for this year.$4.27$2.91$1.36$2.64$2.61$0.03
2022Detailed filing. Detailed filing data is available for this year.$4.08$2.75$1.33$2.43$2.40$0.03
2021Detailed filing. Detailed filing data is available for this year.$4.15$2.85$1.30$2.76$2.66$0.10
2020Detailed filing. Detailed filing data is available for this year.$3.70$2.73$0.98$2.64$1.76$0.88
2019Summary only. Only limited summary data is available for this year.$0.35$0.27$0.08$0.98$0.94$0.04
2015Summary only. Only limited summary data is available for this year.$0.00$0.00$0.02$0.02$0.00