Civic Intelligence

Allegiant Preparatory Academy

990 • Fiscal year 2019 • EIN 81-3719222

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

3125 Concord CT Ste BIndianapolis, IN 46222

(317) 489-6877

Siviq Scores

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

Liabilities / Assets

87th percentile

0.55x

Higher debt load relative to assets than 87% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

78th percentile

0.23x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

13th percentile

-21%

Higher net margin than 13% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

83rd percentile

$85,567

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 14.3% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

27th percentile

-3.6%

Faster asset growth than 27% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

1029%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Down

$246,231

Down $9,228 (-3.6%) from 2018

Net Assets

Down

$109,682

Down $48,086 (-30%) from 2018

Liabilities

Up

$136,549

Up $38,858 (+40%) from 2018

Revenue

Up

$599,098

Up $546,053 (+1029%) from 2018

Expenses

Up

$726,416

Up $645,693 (+800%) from 2018

Net Income

Down

-$127,318

Down $99,640 (-360%) from 2018

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2018: $255,459Liabilities 2018: $97,691Net Assets 2018: $157,7682018Assets 2019: $246,231Liabilities 2019: $136,549Net Assets 2019: $109,6822019Assets 2020: $414,541Liabilities 2020: $175,607Net Assets 2020: $238,9342020Assets 2021: $562,165Liabilities 2021: $92,792Net Assets 2021: $469,3732021Assets 2022: $635,202Liabilities 2022: $68,839Net Assets 2022: $566,3632022Assets 2023: $1,653,221Liabilities 2023: $738,879Net Assets 2023: $914,3422023Assets 2024: $1,990,533Liabilities 2024: $835,617Net Assets 2024: $1,154,9162024Assets 2025: $2,027,555Liabilities 2025: $609,189Net Assets 2025: $1,418,3662025

Highlighted filing

2019

Assets$246,231
Liabilities$136,549
Net Assets$109,682

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2018: $53,045Expenses 2018: $80,723Net Income 2018: -$27,6782018Revenue 2019: $599,098Expenses 2019: $726,416Net Income 2019: -$127,3182019Revenue 2020: $1,217,935Expenses 2020: $1,061,492Net Income 2020: $156,4432020Revenue 2021: $1,413,164Expenses 2021: $1,182,725Net Income 2021: $230,4392021Revenue 2022: $1,547,511Expenses 2022: $1,450,521Net Income 2022: $96,9902022Revenue 2023: $2,144,912Expenses 2023: $1,796,933Net Income 2023: $347,9792023Revenue 2024: $2,564,344Expenses 2024: $2,323,770Net Income 2024: $240,5742024Revenue 2025: $2,768,474Expenses 2025: $2,505,024Net Income 2025: $263,4502025

Highlighted filing

2019

Revenue$599,098
Expenses$726,416
Net Income-$127,318
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 31, 2020
Return Version
2018v3.1
Gross Receipts
$599,098
Mission and Program Overview

Mission

Allegiant preparatory academy educates all students in grades k-8 with rigorous academics, character development, and a commitment to community necessary for college success and a life of positive action.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,460$113,857▲ $98,397
Rtn Earn Endowment Incm Other Fnds$157,768$109,682▼ $48,086
Pledges and Grants Receivable-$63,557-
Cash and Non-Interest-Bearing Accounts$239,999$55,869▼ $184,130
Prepaid Expenses and Deferred Charges-$5,179-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$255,459$246,231▼ $9,228
Other Assets Total-$7,769-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$85,297-
Accounts Payable and Accrued Expenses$2,691$29,236▲ $26,545
Other Liabilities$95,000$22,016▼ $72,984
Total Liabilities$97,691$136,549▲ $38,858
Net Assets / Fund Balance
Total Net Assets Fund Balance$157,768$109,682▼ $48,086
Total Liabilities and Net Assets / Fund Balance$255,459$246,231▼ $9,228

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$71,537$22,917$94,454
Equipment$42,320$13,694$56,014
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rick AndersonHead of SchoolFT$85,000$567$85,567

Board Members and Trustees

NameTitle
Alyssa HowardBoard Chair
Carlton MartinVice Chair
Charlie SchlegelBoard Member
Dan HartingBoard Member
Keeanna WarrenBoard Member
Terrell SarverBoard Treasurer
Brandon LindsaySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$579,043
Program Service Revenue
$0
Investment Income
$390
Other Revenue
$19,665
All Other Contributions
$810
Change in Net Assets
$-127,318

Audited Revenue Reconciliation

Revenue per Audited Statements
$599,098
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$599,098
Total Revenue per Form 990
$599,098
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$370,913
Other Expenses$355,503
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$134,547$116,543-$251,090
Current Officers, Directors, Trustees, and Key Employees-$88,821-$88,821
Fees for Services Other$12,916$40,251-$53,167
Fees for Services Accounting-$44,624-$44,624
Depreciation Depletion$36,611--$36,611
Occupancy$30,121--$30,121
Payroll Taxes$9,310$15,733-$25,043
Information Technology$17,988--$17,988
Office Expenses$6,340$9,724-$16,064
Insurance-$15,739-$15,739
Advertising-$13,507-$13,507
Other Employee Benefits-$5,959-$5,959
Interest$4,691--$4,691
Fees for Services Legal-$3,750-$3,750
Travel$1,674$2,074-$3,748
Other Expenses$3,681$4,119-$3,681
All Other Expenses$700$592-$1,292
Total Functional Expenses$364,980$361,436$0$726,416

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$726,416
Total Expenses per Audited Statements$726,416
Total Expenses per Form 990$726,416
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
Due to Landlord$22,016
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
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

The form 990 is reviewed and approved by the board of directors.

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

The policy and handbook are reviewed annually.

Form 990, Part VI, Section B, Line 15

Comparable salary and benefits of other charter schools are taken into consideration when determining the salary and benefits of the apa head of school.

Form 990, Part VI, Section C, Line 19

All governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Allegiant Preparatory Academy
EIN
81-3719222
Phone
3174896877
Address
3125 CONCORD CT STE B, INDIANAPOLIS, IN 46222

Signing Officer

Name
Rick Anderson
Title
Head of School
Phone
3174896877
Signed
2020-03-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Anderson
Formed
2016
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
7
Volunteers
0

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 organization has a finance committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant.

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 2018-2019, all tax years are open to audit for both federal and state purposes.

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IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0157768
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0109682
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt042320
IRS990ScheduleD/EquipmentGrp/DepreciationAmt013694
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt056014
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0726416
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt071537
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt022917
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt094454
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt022016
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO LANDLORD
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0599098
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 2018-2019, ALL TAX YEARS ARE OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0113857
IRS990ScheduleD/TotalExpensesPerForm990Amt0726416
IRS990ScheduleD/TotalLiabilityAmt022016
IRS990ScheduleD/TotalRevenuePerForm990Amt0599098
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0599098
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0726416
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 HAS BEEN PUBLICIZED ON THE SCHOOL WEBSITE AND ON ALL COMMUNICATION WITH FAMILIES (BROCHURES, FLYERS, ETC).
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVED FUNDING FROM THE STATE OF INDIANA AS A PUBLIC CHARTER SCHOOL UNDER INDIANA CODE 20-24. IT ALSO RECEIVED FUNDING UNDER FEDERAL PROGRAMS ADMINSTERED 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/ExplanationTxt0THE FORM 990 IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE POLICY AND HANDBOOK ARE REVIEWED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPARABLE SALARY AND BENEFITS OF OTHER CHARTER SCHOOLS ARE TAKEN INTO CONSIDERATION WHEN DETERMINING THE SALARY AND BENEFITS OF THE APA HEAD OF SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS A FINANCE COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
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:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0255459
IRS990/TotalAssetsEOYAmt0246231
IRS990/TotalAssetsGrp/BOYAmt0255459
IRS990/TotalAssetsGrp/EOYAmt0246231
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0579043
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0361436
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0364980
IRS990/TotalFunctionalExpensesGrp/TotalAmt0726416
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt097691
IRS990/TotalLiabilitiesEOYAmt0136549
IRS990/TotalLiabilitiesGrp/BOYAmt097691
IRS990/TotalLiabilitiesGrp/EOYAmt0136549
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0157768
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0109682
IRS990/TotalOtherCompensationAmt0567
IRS990/TotalProgramServiceExpensesAmt0364980
IRS990/TotalReportableCompFromOrgAmt085000
IRS990/TotalRevenueGrp/ExclusionAmt0390
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt019665
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0599098
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0255459
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0246231
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt02074
IRS990/TravelGrp/ProgramServicesAmt01674
IRS990/TravelGrp/TotalAmt03748
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03125 CONCORD CT STE B
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046222
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0HTTPS://ALLEGIANTPREP.ORG/
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK ANDERSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEAD OF SCHOOL
ReturnHeader/BusinessOfficerGrp/PhoneNum03174896877
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ALLEGIANT PREPARATORY ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0ALLE
ReturnHeader/Filer/EIN0813719222
ReturnHeader/Filer/PhoneNum03174896877
ReturnHeader/Filer/USAddress/AddressLine1Txt03125 CONCORD CT STE B
ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046222
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId06193D5BB7C5C4FFD6E47EBF82CD0417B1D155897
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P

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