Civic Intelligence

Independence Classical Academy Inc.

990 • Fiscal year 2021 • EIN 81-2700759

Jul 01, 2020 to Jun 30, 2021 • Filed on Sep 18, 2023

Organization ProfileICACHARTER.ORG
2902 S Jenkins RoadFort Pierce, FL 34981

(772) 837-9300

Siviq Scores

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

Liabilities / Assets

89th percentile

0.69x

Higher debt load relative to assets than 89% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

51st percentile

0.10x

Higher debt load relative to revenue than 51% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

31st percentile

2.4%

Higher net margin than 31% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets89th percentile

Assets

$346,948

No earlier filing loaded for comparison.

Net Assets

$108,318

No earlier filing loaded for comparison.

Liabilities

$238,630

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin31st percentile

Revenue

$2,488,195

No earlier filing loaded for comparison.

Expenses

$2,428,742

No earlier filing loaded for comparison.

Net Income

$59,453

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2021: $346,948Liabilities 2021: $238,630Net Assets 2021: $108,3182021Assets 2022: $11,182,975Liabilities 2022: $11,208,259Net Assets 2022: -$25,2842022Assets 2023: $11,074,228Liabilities 2023: $10,992,220Net Assets 2023: $82,0082023Assets 2024: $17,252,069Liabilities 2024: $16,645,377Net Assets 2024: $606,6922024Assets 2025: $15,316,332Liabilities 2025: $15,280,569Net Assets 2025: $35,7632025

Highlighted filing

2021

Assets$346,948
Liabilities$238,630
Net Assets$108,318
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2021: $2,488,195Expenses 2021: $2,428,742Net Income 2021: $59,4532021Revenue 2022: $2,618,925Expenses 2022: $2,752,527Net Income 2022: -$133,6022022Revenue 2023: $3,983,027Expenses 2023: $3,875,735Net Income 2023: $107,2922023Revenue 2024: $4,926,179Expenses 2024: $4,401,495Net Income 2024: $524,6842024Revenue 2025: $6,411,254Expenses 2025: $6,987,794Net Income 2025: -$576,5402025

Highlighted filing

2021

Revenue$2,488,195
Expenses$2,428,742
Net Income$59,453
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Sep 18, 2023
Return Version
2020v4.1
Gross Receipts
$2,488,195
Mission and Program Overview

Mission

Independence classical academy exists to provide a disciplined and highly engaging learning environment rich in scholarship, character building, citizenship, moral virtue, civics, and liberal arts. This time-tested, classical liberal arts education will ensure students are highly prepared, through rigorous and relevant core content with an emphasis on literacy, to be highly productive and successful citizens with a strong sense of character and civic responsibility.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$177,477-
Pledges and Grants Receivable-$110,976-
Rtn Earn Endowment Incm Other Fnds-$83,149-
Prepaid Expenses and Deferred Charges-$33,326-
Land, Buildings, and Equipment, Net-$25,169-
Pd in Cap Srpls Land Bldg Eqp Fund-$25,169-
Total Assets$0$346,948▲ $346,948
Liabilities
Accounts Payable and Accrued Expenses-$131,976-
Mortgage Notes Payable Secured by Investment Property-$106,654-
Total Liabilities$0$238,630▲ $238,630
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$108,318▲ $108,318
Total Liabilities and Net Assets / Fund Balance$0$346,948▲ $346,948

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$25,169$4,722-
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Clay BectonBoard Chair
Sandy HowardExecutive Director
Cathy TownsendFounder/member
Debbie Kikliter-kelleyMember
Tamra GavinPrincipal
Sandra CrouchSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
East Mountain CommercialFacility Lease775 W 1200 NORTH STE 100, Springville, UT 84663$401,088
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,329,453
Investment Income
$0
Other Revenue
$158,742
Change in Net Assets
$59,453

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,488,195
Total Revenue per Audited Statements
$2,488,195
Total Revenue per Form 990
$2,488,195
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,428,742
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$1,051,192$90,353$0$1,141,545
Interest$6,106$0$0$6,106
Other Expenses$5,543$0$0$5,543
Depreciation Depletion$4,722$0$0$4,722
Total Functional Expenses$2,338,389$90,353$0$2,428,742

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,428,742
Total Expenses per Audited Statements$2,428,742
Total Expenses per Form 990$2,428,742
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
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
No
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
Filing and Contact Details

Filer

Filer Name
Independence Classical Academy Inc
EIN
81-2700759
Phone
7728379300
Address
2902 S JENKINS ROAD, FORT PIERCE, FL 34981

Signing Officer

Name
Clay Becton
Title
President
Phone
7728379300
Signed
2023-09-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Clay Becton
Formed
2020
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
42
Volunteers
25

Preparer

Firm
Robert Walker CPA PA
Address
2803 W Busch Blvd Ste 106, Tampa, FL 33618
Preparer
Robert Walker CPA
Phone
8136248643
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“A draft copy of the 990 is provided to the region director for review prior to filing with the irs.”

Pt VI, Line 12C

“At each board meeting, the agenda is notated to remind board members to recuse from voting on any item that may be a conflict of interest.”

Pt VI, Line 15B

“The principal is paid in accordance with the school district's pay scale.”

Form 990, Part IX, Line 24E

“Board 90353. 0. 90353. 0.”

Form 990, Part IX, Line 24E

“School administration 353306. 353306. 0. 0.”

Form 990, Part IX, Line 24E

“Facilities acq & constr 403. 403. 0. 0.”

Form 990, Part IX, Line 24E

“Fiscal services 69392. 69392. 0. 0.”

Form 990, Part IX, Line 24E

“Food services 1473. 1473. 0. 0.”

Form 990, Part IX, Line 24E

“Operation of plant 577133. 577133. 0. 0.”

Form 990, Part IX, Line 24E

“Maintenance of plant 6313. 6313. 0. 0.”

Form 990, Part IX, Line 24E

“Community service 43172. 43172. 0. 0.”

Financial Statement Notes

Pt X, Line 2

“The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The School's income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is exempt from Federal tax under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been included in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related note to financial statements. The School's income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE CHARTER SCHOOL ORGANIZATION SPECIFICALLY STATES ITS NONDISCRIMINATORY POLICY ON THE WEBSITE, NOTICES, AND ALL OF THE PUBLIC ADVERTISEMENTS PUBLISHED BY THE RESPECTIVE SCHOOL BOARD.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE CHARTER SCHOOL RECEIVES GRANTS FROM THEIR COUNTY SCHOOL BOARD.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY OF THE 990 IS PROVIDED TO THE REGION DIRECTOR FOR REVIEW PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT EACH BOARD MEETING, THE AGENDA IS NOTATED TO REMIND BOARD MEMBERS TO RECUSE FROM VOTING ON ANY ITEM THAT MAY BE A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRINCIPAL IS PAID IN ACCORDANCE WITH THE SCHOOL DISTRICT'S PAY SCALE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD 90353. 0. 90353. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SCHOOL ADMINISTRATION 353306. 353306. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FACILITIES ACQ & CONSTR 403. 403. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FISCAL SERVICES 69392. 69392. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FOOD SERVICES 1473. 1473. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8OPERATION OF PLANT 577133. 577133. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9MAINTENANCE OF PLANT 6313. 6313. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10COMMUNITY SERVICE 43172. 43172. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt090353
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02338389
IRS990/TotalFunctionalExpensesGrp/TotalAmt02428742
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0238630
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0238630
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0108318
IRS990/TotalProgramServiceExpensesAmt02338389
IRS990/TotalProgramServiceRevenueAmt02329453
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02488195
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02488195
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt025
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt02902 S JENKINS ROAD
IRS990/USAddress/CityNm0FORT PIERCE
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd034981
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0ICACHARTER.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CLAY BECTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07728379300
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-09-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDEPENDENCE CLASSICAL ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0INDE
ReturnHeader/Filer/EIN0812700759
ReturnHeader/Filer/PhoneNum07728379300
ReturnHeader/Filer/USAddress/AddressLine1Txt02902 S JENKINS ROAD
ReturnHeader/Filer/USAddress/CityNm0FORT PIERCE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd034981
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Robert Walker CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02803 W Busch Blvd Ste 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Tampa
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033618
ReturnHeader/PreparerPersonGrp/PhoneNum08136248643
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Robert Walker CPA
ReturnHeader/ReturnTs02023-09-18T06:28:32-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CLAY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BECTON
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$346,948
Liabilities
$238,630
Net assets
$108,318
Revenue
$2,488,195
Expenses
$2,428,742
Net income
$59,453
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$15.3$15.3$0.04$6.41$6.99$0.58
2024Detailed filing. Detailed filing data is available for this year.$17.3$16.6$0.61$4.93$4.40$0.52
2023Detailed filing. Detailed filing data is available for this year.$11.1$11.0$0.08$3.98$3.88$0.11
2022Detailed filing. Detailed filing data is available for this year.$11.2$11.2$0.03$2.62$2.75$0.13
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.24$0.11$2.49$2.43$0.06