Civic Intelligence

Circle City Preparatory Inc.

990 • Fiscal year 2019 • EIN 81-0741071

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 31, 2020

Organization ProfileWWW.CIRCLECITYPREP.ORG
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

78th percentile

0.43x

Higher debt load relative to assets than 78% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.12x

Higher debt load relative to revenue than 57% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

71st percentile

14%

Higher net margin than 71% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

58th percentile

$79,812

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

97th percentile

159%

Faster asset growth than 97% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

94th percentile

117%

Faster revenue growth than 94% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$485,597

Up $298,137 (+159%) from 2018

Net Assets

Up

$278,546

Up $240,481 (+632%) from 2018

Liabilities

Up

$207,051

Up $57,656 (+39%) from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin71st percentile

Revenue

Up

$1,698,970

Up $915,769 (+117%) from 2018

Expenses

Up

$1,458,489

Up $410,898 (+39%) from 2018

Net Income

Up

$240,481

Up $504,871 (+191%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

2019

Assets$485,597
Liabilities$207,051
Net Assets$278,546
Open 2019 Filing

Operations Trend

Revenue Growth94th percentile

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

2019

Revenue$1,698,970
Expenses$1,458,489
Net Income$240,481
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 31, 2020
Return Version
2018v3.1
Gross Receipts
$1,698,970
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$110,435$368,372▲ $257,937
Pledges and Grants Receivable$43,993$82,451▲ $38,458
Land, Buildings, and Equipment, Net$33,032$24,774▼ $8,258
Total Assets$187,460$485,597▲ $298,137
Other Assets Total$0$10,000▲ $10,000
Liabilities
Accounts Payable and Accrued Expenses$48,615$128,353▲ $79,738
Mortgage Notes Payable Secured by Investment Property$100,780$78,698▼ $22,082
Total Liabilities$149,395$207,051▲ $57,656
Net Assets / Fund Balance
Unrestricted Net Assets$38,065$278,546▲ $240,481
Total Net Assets Fund Balance$38,065$278,546▲ $240,481
Total Liabilities and Net Assets / Fund Balance$187,460$485,597▲ $298,137

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$24,774$16,516$41,290
Compensation and Service Providers
Top Officer Pay58th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Megan MurphyHead of SchoolFT$77,487$2,325$79,812

Board Members and Trustees

NameTitle
Jennifer BartenbachBoard Chair
Mandy ParrisVice Board Chair
Aaron BerkeyBoard Member
Alexis SowderBoard Member
Doris TolliverBoard Member
Shareyna ChangBoard Member
Wayne PatrickBoard Member
Chad MillerBoard Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,679,510
Program Service Revenue
$0
Investment Income
$660
Other Revenue
$18,800
All Other Contributions
$19,718
Change in Net Assets
$240,481

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,698,970
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,698,970
Total Revenue per Form 990
$1,698,970
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$837,871
Salaries, Compensation, and Employee Benefits$620,618
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$380,399$86,624-$467,023
Occupancy$207,361--$207,361
Office Expenses$152,069$38,207-$190,276
Fees for Services Other$97,462$14,856-$112,318
Current Officers, Directors, Trustees, and Key Employees-$79,702-$79,702
Payroll Taxes$27,209$11,223-$38,432
Advertising-$37,536-$37,536
Other Employee Benefits$35,461--$35,461
Fees for Services Accounting$22,563--$22,563
Insurance$18,120--$18,120
Travel$13,558$4,485-$18,043
Depreciation Depletion$8,258--$8,258
Information Technology$7,321--$7,321
Interest$6,043--$6,043
Other Expenses$44,956$2,489-$2,489
Total Functional Expenses$1,183,367$275,122$0$1,458,489

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,458,489
Total Expenses per Audited Statements$1,458,489
Total Expenses per Form 990$1,458,489
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
Fundraising Direct Expenses$0
Fundraising Gross Income$0
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
Audit committee
Yes
Backup withholding compliance
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
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

“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
2020-03-31
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
14
Volunteers
3

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:

“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.”

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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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IRS990/PYSalariesCompEmpBnftPaidAmt0434369
IRS990/PYTotalExpensesAmt01047591
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0783201
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0240481
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt016516
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt041290
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01698970
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/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt01458489
IRS990ScheduleD/TotalRevenuePerForm990Amt01698970
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01698970
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01458489
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
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 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.
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/ExplanationTxt4THE 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.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01183367
IRS990/TotalFunctionalExpensesGrp/TotalAmt01458489
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IRS990/TotalProgramServiceExpensesAmt01183367
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0485597
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt04485
IRS990/TravelGrp/ProgramServicesAmt013558
IRS990/TravelGrp/TotalAmt018043
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt038065
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0INDIANAPOLIS
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IRS990/WebsiteAddressTxt0WWW.CIRCLECITYPREP.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-11-19 02:30:22Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-31
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ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm011:42:34
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0351356555

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$485,597
Liabilities
$207,051
Net assets
$278,546
Revenue
$1,698,970
Expenses
$1,458,489
Net income
$240,481
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