Civic Intelligence

Circle City Preparatory Inc

EIN 81-0741071 • 501(c)3 • Indianapolis, IN

Profile

Through excellence in academic instruction and character development, circle city prep ensures all k-8 students are ambitious, powerful learners and responsible, positive leaders on a path to college and a life of opportunity.

4002 N Franklin RdIndianapolis, IN 46226

www.circlecityprep.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

88th percentile

0.75x

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

501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

82nd percentile

0.87x

Higher debt load relative to revenue than 82% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

62nd percentile

11%

Higher net margin than 62% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

49th percentile

$108,001

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

59th percentile

7.9%

Faster asset growth than 59% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

71st percentile

20%

Faster revenue growth than 71% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$7,354,222

Up $916,364 (+14%) from 2023

Liabilities

Up

$5,212,461

Up $414,112 (+8.6%) from 2023

Net Assets

Up

$2,141,761

Up $502,252 (+31%) from 2023

Operations
Liabilities / Revenue82nd percentileNet Margin62nd percentile

Revenue

Up

$6,223,004

Up $721,707 (+13%) from 2023

Expenses

Up

$5,720,752

Up $823,152 (+17%) from 2023

Net Income

Down

$502,252

Down $101,445 (-17%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth59th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2017: $425,896Liabilities 2017: $389,9472017Assets 2018: $187,460Liabilities 2018: $149,395Net Assets 2018: $38,0652018Assets 2019: $485,597Liabilities 2019: $207,051Net Assets 2019: $278,5462019Assets 2020: $864,694Liabilities 2020: $231,757Net Assets 2020: $632,9372020Assets 2021: $5,441,732Liabilities 2021: $4,776,394Net Assets 2021: $665,3382021Assets 2022: $5,969,149Liabilities 2022: $4,933,337Net Assets 2022: $1,035,8122022Assets 2023: $6,437,858Liabilities 2023: $4,798,349Net Assets 2023: $1,639,5092023Assets 2024: $7,354,222Liabilities 2024: $5,212,461Net Assets 2024: $2,141,7612024

Highlighted filing

2024

Assets$7,354,222
Liabilities$5,212,461
Net Assets$2,141,761
Open 2024 Filing

Operations Trend

Revenue Growth71st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $154,492Expenses 2017: $154,492Net Income 2017: $02017Revenue 2018: $783,201Expenses 2018: $1,047,591Net Income 2018: -$264,3902018Revenue 2019: $1,698,970Expenses 2019: $1,458,489Net Income 2019: $240,4812019Revenue 2020: $2,431,795Expenses 2020: $2,115,425Net Income 2020: $316,3702020Revenue 2021: $2,827,407Expenses 2021: $2,795,006Net Income 2021: $32,4012021Revenue 2022: $4,574,743Expenses 2022: $4,204,269Net Income 2022: $370,4742022Revenue 2023: $5,501,297Expenses 2023: $4,897,600Net Income 2023: $603,6972023Revenue 2024: $6,223,004Expenses 2024: $5,720,752Net Income 2024: $502,2522024

Highlighted filing

2024

Revenue$6,223,004
Expenses$5,720,752
Net Income$502,252
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,354,222
Liabilities
$5,212,461
Net assets
$2,141,761
Revenue
$6,223,004
Expenses
$5,720,752
Net income
$502,252
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.35$5.21$2.14$6.22$5.72$0.50
2023Detailed filing. Detailed filing data is available for this year.$6.44$4.80$1.64$5.50$4.90$0.60
2022Detailed filing. Detailed filing data is available for this year.$5.97$4.93$1.04$4.57$4.20$0.37
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.44$4.78$0.67$2.83$2.80$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.86$0.23$0.63$2.43$2.12$0.32
2019Detailed filing. Detailed filing data is available for this year.$0.49$0.21$0.28$1.70$1.46$0.24
2018Detailed filing. Detailed filing data is available for this year.$0.19$0.15$0.04$0.78$1.05$0.26
2017Summary only. Only limited summary data is available for this year.$0.43$0.39$0.15$0.15$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 15, 2025
Return Version
2023v6.0
Gross Receipts
$6,223,004
Mission and Program Overview

Mission

Through excellence in academic instruction and character development, circle city prep ensures all k-8 students are ambitious, powerful learners and responsible, positive leaders on a path to college and a life of opportunity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,949,377$4,333,842▲ $384,465
Savings and Temporary Cash Investments-$1,659,185-
Cash and Non-Interest-Bearing Accounts$959,464$433,366▼ $526,098
Pledges and Grants Receivable$679,384$191,279▼ $488,105
Prepaid Expenses and Deferred Charges$9,000$34,970▲ $25,970
Total Assets$6,437,858$7,354,222▲ $916,364
Other Assets Total$840,633$701,580▼ $139,053
Liabilities
Tax Exempt Bond Liabilities$4,548,379$4,215,392▼ $332,987
Other Liabilities$0$803,720▲ $803,720
Accounts Payable and Accrued Expenses$166,075$193,349▲ $27,274
Mortgage Notes Payable Secured by Investment Property$83,895--
Total Liabilities$4,798,349$5,212,461▲ $414,112
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,639,509$2,141,761▲ $502,252
Total Net Assets Fund Balance$1,639,509$2,141,761▲ $502,252
Total Liabilities and Net Assets / Fund Balance$6,437,858$7,354,222▲ $916,364

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,660,865$351,435$3,012,300
Leasehold Improvements$1,082,336$458,298$1,540,634
Equipment$352,941$176,586$529,527
Land$237,700-$237,700
Other Assets Org$233,146--
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Megan MurphyHead of SchoolFT$138,925$12,446$151,371
Courtney EckerleDirector of Finance and FoFT$70,111$20,067$90,178

Board Members and Trustees

NameTitle
Leslie TarbleBoard Chair
Nigel RigginsBoard Vice Chair
Darius SaywersBoard Member
Darrow NevesBoard Member
Drew RosenbargerBoard Member
Kevin LennonBoard Member
Robert GrimmBoard Secretary
Alexis SowderBoard Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Corvus Janitorial Of IndianapolisJanitorial Services5619 W 74TH ST, Indianapolis, IN 46278$170,340
Revenue and Support

Revenue Composition

Contributions and Grants
$6,064,201
Program Service Revenue
$0
Investment Income
$85,297
Other Revenue
$73,506
All Other Contributions
$788,366
Change in Net Assets
$502,252

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,223,004
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$6,223,004
Total Revenue per Form 990
$6,223,004
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,333,227
Other Expenses$2,387,525
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,482,335$1,023,077-$2,505,412
Depreciation Depletion$417,710--$417,710
Occupancy$417,189--$417,189
Office Expenses$226,744$157,430-$384,174
Other Employee Benefits$165,738$158,361-$324,099
Current Officers, Directors, Trustees, and Key Employees$144,239$103,987-$248,226
Interest$236,021--$236,021
Fees for Services Other$175,388$35,483-$210,871
Payroll Taxes$105,429$100,736-$206,165
Information Technology$87,787$4,518-$92,305
Fees for Services Accounting$78,255--$78,255
Pension Plan Contributions$25,224$24,101-$49,325
Travel$47,515$62-$47,577
Advertising-$44,819-$44,819
Insurance$30,968--$30,968
Other Expenses$19,469--$19,469
All Other Expenses$18,974--$18,974
Fees for Services Management-$13,908-$13,908
Total Functional Expenses$4,054,270$1,666,482$0$5,720,752

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,720,752
Total Expenses per Audited Statements$5,720,752
Total Expenses per Form 990$5,720,752
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt Service Reserve Fund$297,500
Operating Lease Obligation$233,146
Refundable Advances$225,603
Other Current Liabilities$47,471

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIndiana Finance Authority2021-01-07$4,442,963Purchase building and furnishings

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$4,442,963--$85,256

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
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
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 B, Line 11B

“Form 990 draft is provided at board meeting for directors and members to review. Board of directors reviews document for any necessary changes. Once complete, board vote is made to approve the form 990 for filing.”

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

“An employee must promptly disclose actual or potential conflicts of interest, in writing, to the head of school. The school will assess and prevent potential conflicts of interest from arising.”

Form 990, Part VI, Section B, Line 15

“The board of directors compiles necessary data for a sound decision to be made around compensation for the executive director. All board members are involved in the decision making process and the board of directors must review, discuss and vote to approve compensation for the executive director. The board of directors compiles necessary data for a sound decision to be made around compensation for the key employees of the organization. All board members are involved in the decision making process and the board of directors must review, discuss and vote to approve compensation for the key employees of the organization.”

Form 990, Part VI, Section C, Line 19

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Circle City Preparatory Inc
EIN
81-0741071
Phone
3176434209
Address
4002 N FRANKLIN RD, INDIANAPOLIS, IN 46226

Signing Officer

Name
Megan Murphy
Title
Head of School
Phone
3176434209
Signed
2025-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Megan Murphy
Formed
2015
Legal Domicile
In
Voting Board Members
8
Independent Board Members
8
Employees
58
Volunteers
4

Preparer

Firm
Donovan Pc
Address
5151 E US HWY 36, AVON, IN 46123
Preparer
Rex E Miller CPA Cgma
Phone
3177456411
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organizaiton has a finance committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant. The oversight process and selection process did not change during the tax year.”

Financial Statement Notes

PART X, LINE 2:

“The school received a determination from the u.s. Treasury department stating it qualifies under the provisions of section 501(c)(3) of the internal revenue code as a tax-exempt organization; however, the school would be subject to tax on income unrelated to its tax-exempt purpose. For the years ended june 30, 2024 and 2023, no accounting for federal and state income taxes was required to be included in the accompanying financial statements. Professional accounting standards require the school to recognize a tax liability only if it is more likely than not the tax position would not be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax liability greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax liability is recorded. The school examined this issue and determined there are no material contingent tax liabilities or questionable tax positions. The tax years ended after june 30, 2020 are open to audit for both federal and state purposes.”

Raw XML AppendixShowing 400 of 536 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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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt04518
IRS990/InformationTechnologyGrp/ProgramServicesAmt087787
IRS990/InformationTechnologyGrp/TotalAmt092305
IRS990/InsuranceGrp/ProgramServicesAmt030968
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IRS990/InterestGrp/ProgramServicesAmt0236021
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IRS990/InvestTaxExemptBondsInd00
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IRS990/LandBldgEquipCostOrOtherBssAmt05320161
IRS990/LegalDomicileStateCd0IN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THROUGH EXCELLENCE IN ACADEMIC INSTRUCTION AND CHARACTER DEVELOPMENT, CIRCLE CITY PREP ENSURES ALL K-8 STUDENTS ARE AMBITIOUS, POWERFUL LEARNERS AND RESPONSIBLE, POSITIVE LEADERS ON A PATH TO COLLEGE AND A LIFE OF OPPORTUNITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/OfficeExpensesGrp/ProgramServicesAmt0226744
IRS990/OfficeExpensesGrp/TotalAmt0384174
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0840633
IRS990/OtherAssetsTotalGrp/EOYAmt0701580
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0158361
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0165738
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0324099
IRS990/OtherExpensesGrp/Desc0FOOD SERVICE
IRS990/OtherExpensesGrp/Desc1STAFF DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2CURRICULUM
IRS990/OtherExpensesGrp/Desc3BOARD OF EDUCATION
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IRS990/OtherExpensesGrp/ProgramServicesAmt174635
IRS990/OtherExpensesGrp/ProgramServicesAmt256530
IRS990/OtherExpensesGrp/ProgramServicesAmt319469
IRS990/OtherExpensesGrp/TotalAmt0244120
IRS990/OtherExpensesGrp/TotalAmt174635
IRS990/OtherExpensesGrp/TotalAmt256530
IRS990/OtherExpensesGrp/TotalAmt319469
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0803720
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherRevenueTotalAmt073506
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01023077
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01482335
IRS990/OtherSalariesAndWagesGrp/TotalAmt02505412
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0100736
IRS990/PayrollTaxesGrp/ProgramServicesAmt0105429
IRS990/PayrollTaxesGrp/TotalAmt0206165
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt024101
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt025224
IRS990/PensionPlanContributionsGrp/TotalAmt049325
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0679384
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0191279
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt09000
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt034970
IRS990/PrincipalOfficerNm0MEGAN MURPHY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0COMPLETION OF THE C3 (CIRCLE CITY CAFE), A NEW CAFETERIA FOR OUR SCHOLARS
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05472228
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYProgramServiceRevenueAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt02621108
IRS990/PYTotalExpensesAmt04897600
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05501297
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0502252
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt073506
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01659185
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt02660865
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0351435
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03012300
IRS990ScheduleD/EquipmentGrp/BookValueAmt0352941
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0176586
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IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05720752
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0237700
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0237700
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01082336
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0458298
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01540634
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0468434
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1233146
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED CASH
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OPERATING LEASE RIGHT-OF-USE ASSETS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0225603
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt147471
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2233146
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3297500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REFUNDABLE ADVANCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OTHER CURRENT LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2OPERATING LEASE OBLIGATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DEBT SERVICE RESERVE FUND
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06223004
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL RECEIVED A DETERMINATION FROM THE U.S. TREASURY DEPARTMENT STATING IT QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS A TAX-EXEMPT ORGANIZATION; HOWEVER, THE SCHOOL WOULD BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS TAX-EXEMPT PURPOSE. FOR THE YEARS ENDED JUNE 30, 2024 AND 2023, NO ACCOUNTING FOR FEDERAL AND STATE INCOME TAXES WAS REQUIRED TO BE INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PROFESSIONAL ACCOUNTING STANDARDS REQUIRE THE SCHOOL TO RECOGNIZE A TAX LIABILITY ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WOULD NOT BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX LIABILITY GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY-THAN-NOT TEST, NO TAX LIABILITY IS RECORDED. THE SCHOOL EXAMINED THIS ISSUE AND DETERMINED THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. THE TAX YEARS ENDED AFTER JUNE 30, 2020 ARE OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04333842
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0701580
IRS990ScheduleD/TotalExpensesPerForm990Amt05720752
IRS990ScheduleD/TotalLiabilityAmt0803720
IRS990ScheduleD/TotalRevenuePerForm990Amt06223004
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06223004
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05720752
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE NONDISCRIMATORY POLICY, INCLUDED IN THE SCHOLAR/FAMILY HANDBOOK ON THE SCHOOL'S WEBSITE, CLEARLY STATES THAT THE SCHOOL "DOES NOT DISCRIMINATE IN ADMISSION TO, ACCESS TO, TREATMENT IN, OR EMPLOYMENT IN ITS SERVICES, PROGRAMS AND ACTIVITIES, ON THE BASIS OF RACE, COLOR, RELIGION, SEX OR NATIONAL ORIGIN, IN ACCORDANCE WITH TITLE VI AND TITLE VII OF THE CIVIL RIGHTS ACT OF 1964."
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVED FUNDING FROM THE STATE OF INDIANA AS A PUBLIC CHARTER SCHOOL UNDER INDIANA CODE 20-24. IT ALSO RECEIVES FUNDING UNDER FEDERAL PROGRAMS ADMINISTERED BY THE STATE OF INDIANA.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MEGAN MURPHY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0HEAD OF SCHOOL
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00

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