Civic Intelligence

Circle City Preparatory Inc.

990 • Fiscal year 2018 • EIN 81-0741071

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

4002 N Franklin RdIndianapolis, IN 46226

(317) 721-8515

Siviq Scores

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

Liabilities / Assets

91st percentile

0.80x

Higher debt load relative to assets than 91% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

75th percentile

0.19x

Higher debt load relative to revenue than 75% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

9th percentile

-34%

Higher net margin than 9% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

60th percentile

$37,250

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

2nd percentile

-56%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

98th percentile

407%

Faster revenue growth than 98% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Down

$187,460

Down $238,436 (-56%) from 2017

Net Assets

$38,065

No earlier filing loaded for comparison.

Liabilities

Down

$149,395

Down $240,552 (-62%) from 2017

Revenue

Up

$783,201

Up $628,709 (+407%) from 2017

Expenses

Up

$1,047,591

Up $893,099 (+578%) from 2017

Net Income

Down

-$264,390

Down $264,390 from 2017

Historical Trend

Balance Sheet Trend

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

$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

2018

Assets$187,460
Liabilities$149,395
Net Assets$38,065

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2018

Revenue$783,201
Expenses$1,047,591
Net Income-$264,390
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.3
Gross Receipts
$783,759
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
Cash and Non-Interest-Bearing Accounts$423,136$110,435▼ $312,701
Pledges and Grants Receivable-$43,993-
Land, Buildings, and Equipment, Net$2,760$33,032▲ $30,272
Total Assets$425,896$187,460▼ $238,436
Liabilities
Deferred Revenue$268,644--
Mortgage Notes Payable Secured by Investment Property$118,250$100,780▼ $17,470
Accounts Payable and Accrued Expenses$3,053$48,615▲ $45,562
Total Liabilities$389,947$149,395▼ $240,552
Net Assets / Fund Balance
Unrestricted Net Assets$35,949$38,065▲ $2,116
Total Net Assets Fund Balance$35,949$38,065▲ $2,116
Total Liabilities and Net Assets / Fund Balance$425,896$187,460▼ $238,436

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$33,032$8,258$41,290
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Megan MurphyHead of SchoolFT$37,250$37,250

Board Members and Trustees

NameTitle
Jennifer BartenbachBoard Chair & Board Member
Mandy ParrisVice Board Chair & Board Member
Aaron BerkeyBoard Member
Doris TolliverBoard Member
Shareyna ChangBoard Member
Michael NagelBoard Member (end 06/2018)
Chad MillerBoard Secretary & Board Member
Sharnell J JohnsonBoard Treasurer & Board Member
Revenue and Support

Revenue Composition

Contributions and Grants
$759,466
Program Service Revenue
$0
Investment Income
$319
Other Revenue
$23,416
All Other Contributions
$17,097
Change in Net Assets
$-264,390

Audited Revenue Reconciliation

Revenue per Audited Statements
$783,201
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$558
Total Revenue per Audited Statements
$783,759
Total Revenue per Form 990
$783,201
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$613,222
Salaries, Compensation, and Employee Benefits$434,369
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$273,145$48,938-$322,083
Occupancy$183,245--$183,245
Office Expenses$84,031$18,309-$102,340
Current Officers, Directors, Trustees, and Key Employees-$77,633-$77,633
Fees for Services Other$25,469$50,628-$76,097
All Other Expenses$47,329$14,369-$61,698
Payroll Taxes$20,924$13,729-$34,653
Insurance$16,231--$16,231
Information Technology$15,197--$15,197
Depreciation Depletion$8,258--$8,258
Travel$2,692$2,608-$5,300
Interest$4,158--$4,158
Advertising-$2,933-$2,933
Fees for Services Legal-$1,209-$1,209
Other Expenses$33,735$1,028-$1,028
Total Functional Expenses$816,207$231,384$0$1,047,591

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,048,149
Expenses per Audited Statements$1,047,591
Total Expenses per Form 990$1,047,591
Expenses Not Reported on Form 990$558
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$4,621
Fundraising Direct Expenses$558
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Event$16,004$4,621$558$4,063
Total Events$16,004$4,621$558$4,063
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
Audit committee
Yes
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

Form 990, Part VI, Section B, Line 11B

A copy of the form 990 is provided to the board for review and comment prior to filing.

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

Each individual serving on the board of directors is required to prepare and submit a conflict of interest disclosure statement on an annual basis.

Form 990, Part VI, Section B, Line 15

Salary of head of school, megan murphy is decided by the circle city prep board of directors. A vote is made by the board of directors for approved salary amount.

Form 990, Part VI, Section C, Line 19

Documents are posted online via the state board of accounts.

Filing and Contact Details

Filer

Filer Name
Circle City Preparatory Inc
EIN
81-0741071
Phone
3177218515
Address
4002 N FRANKLIN RD, INDIANAPOLIS, IN 46226

Signing Officer

Name
Megan Murphy
Title
CEO
Phone
3176434209
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Megan Murphy
Formed
2015
Legal Domicile
In
Voting Board Members
7
Independent Board Members
0
Employees
10
Volunteers
2

Preparer

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

Financial Statement Notes

PART X, LINE 2:

Professional accounting standards require the school to recognize a tax liability only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax liability that is 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 has examined this issue and has determined that there are no material contingent tax liabilities or questionable tax positions. Since the school commenced operations in 2017, all tax years are open to audit for both federal and state purposes.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expense offset against revenue 558.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expense offset against revenue 558.

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IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-264390
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt0558
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01047591
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt033032
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt08258
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt041290
IRS990ScheduleD/OtherExpensesIncludedAmt0558
IRS990ScheduleD/OtherRevenueAmt0558
IRS990ScheduleD/RevenueNotReportedAmt0558
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0783201
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PROFESSIONAL ACCOUNTING STANDARDS REQUIRE THE SCHOOL TO RECOGNIZE A TAX LIABILITY ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX LIABILITY THAT IS 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 HAS EXAMINED THIS ISSUE AND HAS DETERMINED THAT THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. SINCE THE SCHOOL COMMENCED OPERATIONS IN 2017, ALL TAX YEARS ARE OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSE OFFSET AGAINST REVENUE 558.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSE OFFSET AGAINST REVENUE 558.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt033032
IRS990ScheduleD/TotalExpensesPerForm990Amt01047591
IRS990ScheduleD/TotalRevenuePerForm990Amt0783201
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0783759
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01048149
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
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt011383
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt011383
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0558
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FUNDRAISING EVENT
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt016004
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt016004
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt04621
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt04621
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt04063
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0558
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0558
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND COMMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH INDIVIDUAL SERVING ON THE BOARD OF DIRECTORS IS REQUIRED TO PREPARE AND SUBMIT A CONFLICT OF INTEREST DISCLOSURE STATEMENT ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARY OF HEAD OF SCHOOL, MEGAN MURPHY IS DECIDED BY THE CIRCLE CITY PREP BOARD OF DIRECTORS. A VOTE IS MADE BY THE BOARD OF DIRECTORS FOR APPROVED SALARY AMOUNT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE POSTED ONLINE VIA THE STATE BOARD OF ACCOUNTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0425896
IRS990/TotalAssetsEOYAmt0187460
IRS990/TotalAssetsGrp/BOYAmt0425896
IRS990/TotalAssetsGrp/EOYAmt0187460
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0759466
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0231384
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0816207
IRS990/TotalFunctionalExpensesGrp/TotalAmt01047591
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0389947
IRS990/TotalLiabilitiesEOYAmt0149395
IRS990/TotalLiabilitiesGrp/BOYAmt0389947
IRS990/TotalLiabilitiesGrp/EOYAmt0149395
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt035949
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt038065
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0816207
IRS990/TotalReportableCompFromOrgAmt037250
IRS990/TotalRevenueGrp/ExclusionAmt04382
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt019353
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0783201
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0425896
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0187460
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt02608
IRS990/TravelGrp/ProgramServicesAmt02692
IRS990/TravelGrp/TotalAmt05300
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt035949
IRS990/UnrestrictedNetAssetsGrp/EOYAmt038065
IRS990/USAddress/AddressLine1Txt04002 N FRANKLIN RD
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046226
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.CIRCLECITYPREP.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MEGAN MURPHY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03176434209
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CIRCLE CITY PREPARATORY INC
ReturnHeader/Filer/BusinessNameControlTxt0CIRC
ReturnHeader/Filer/EIN0810741071

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