Civic Intelligence

Bloom Academy Inc.

990 • Fiscal year 2021 • EIN 82-3153661

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

Organization ProfileWWW.BLOOMACADEMY.ORG
3420 Almeda Genoa RdHouston, TX 77047

(346) 333-1320

Siviq Scores

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

Liabilities / Assets

67th percentile

0.20x

Higher debt load relative to assets than 67% of similar nonprofits.

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

Liabilities / Revenue

48th percentile

0.08x

Higher debt load relative to revenue than 48% of similar nonprofits.

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

Net Margin

63rd percentile

20%

Higher net margin than 63% 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

94th percentile

111%

Faster asset growth than 94% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

87th percentile

97%

Faster revenue growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$730,623

Up $384,066 (+111%) from 2020

Net Assets

Up

$585,578

Up $367,605 (+169%) from 2020

Liabilities

Up

$145,045

Up $16,461 (+13%) from 2020

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin63rd percentile

Revenue

Up

$1,794,725

Up $883,762 (+97%) from 2020

Expenses

Up

$1,427,120

Up $508,914 (+55%) from 2020

Net Income

Up

$367,605

Up $374,848 (+5175%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$10M$5.0M$0Assets 2019: $228,451Liabilities 2019: $3,235Net Assets 2019: $225,2162019Assets 2020: $346,557Liabilities 2020: $128,584Net Assets 2020: $217,9732020Assets 2021: $730,623Liabilities 2021: $145,045Net Assets 2021: $585,5782021Assets 2022: $1,007,625Liabilities 2022: $367,211Net Assets 2022: $640,4142022Assets 2023: $9,388,165Liabilities 2023: $8,791,301Net Assets 2023: $596,8642023Assets 2024: $8,059,793Liabilities 2024: $7,822,628Net Assets 2024: $237,1652024

Highlighted filing

2021

Assets$730,623
Liabilities$145,045
Net Assets$585,578
Open 2021 Filing

Operations Trend

Revenue Growth87th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $395,032Expenses 2019: $169,816Net Income 2019: $225,2162019Revenue 2020: $910,963Expenses 2020: $918,206Net Income 2020: -$7,2432020Revenue 2021: $1,794,725Expenses 2021: $1,427,120Net Income 2021: $367,6052021Revenue 2022: $3,511,351Expenses 2022: $3,456,515Net Income 2022: $54,8362022Revenue 2023: $5,051,265Expenses 2023: $4,864,199Net Income 2023: $187,0662023Revenue 2024: $6,505,842Expenses 2024: $6,865,541Net Income 2024: -$359,6992024

Highlighted filing

2021

Revenue$1,794,725
Expenses$1,427,120
Net Income$367,605
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$1,794,725
Mission and Program Overview

Mission

Through rigor, joy, and character development, bloom academy charter school prepares all kindergarten through fifth grade scholars for success in middle school, high school, and college, and to lead lives of positive impact in their communities.

Public school education, kindergarten through second grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$174,353$365,279▲ $190,926
Accounts Receivable$104,939$302,734▲ $197,795
Land, Buildings, and Equipment, Net$55,105$50,450▼ $4,655
Total Assets$346,557$730,623▲ $384,066
Other Assets Total$12,160$12,160→ $0
Liabilities
Accounts Payable and Accrued Expenses$29,179$103,337▲ $74,158
Deferred Revenue$42,024--
Mortgage Notes Payable Secured by Investment Property$50,000$25,561▼ $24,439
Other Liabilities$7,381$16,147▲ $8,766
Total Liabilities$128,584$145,045▲ $16,461
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$42,970$351,100▲ $308,130
Net Assets With Donor Restrictions$175,003$234,478▲ $59,475
Total Net Assets Fund Balance$217,973$585,578▲ $367,605
Total Liabilities and Net Assets / Fund Balance$346,557$730,623▲ $384,066

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$47,431$7,297$54,728
Equipment$3,019$2,013$5,032
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Homer BrittonBoard Chair
Cherece MiltonBoard Member
Christopher DouglasBoard Member
Edith RahimanBoard Member
Joana NunooBoard Member
Jenny PennycuffBoard Secret
Alison HaroldBoard Vice C
Revenue and Support

Revenue Composition

Contributions and Grants
$1,786,831
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$7,894
Change in Net Assets
$367,605

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$1,786,831
Total Noncash Contributions1$1,786,831

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,794,725
Total Revenue per Audited Statements
$1,794,725
Total Revenue per Form 990
$1,794,725
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$888,199
Salaries, Compensation, and Employee Benefits$538,921
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$469,722$24,970-$494,692
Fees for Services Other$231,320$103,862-$335,182
Occupancy$145,857--$145,857
Other Employee Benefits$36,112$1,221-$37,333
Other Expenses$27,373$17,572-$27,373
Fees for Services Accounting-$12,000-$12,000
Insurance-$9,293-$9,293
Payroll Taxes$6,540$356-$6,896
All Other Expenses$3,399$2,970-$6,369
Depreciation Depletion$4,655--$4,655
Fees for Services Legal-$2,596-$2,596
Interest-$2,515-$2,515
Travel-$200-$200
Total Functional Expenses$1,249,565$177,555$0$1,427,120

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,427,120
Total Expenses per Audited Statements$1,427,120
Total Expenses per Form 990$1,427,120
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
Other Liabilities$16,147
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by members of management prior to the filing of the information return with the internal revenue service. The form 990 is made available to the board of directors for review at a regular scheduled meeting.”

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Bloom Academy Inc
EIN
82-3153661
Phone
3463331320
Address
3420 ALMEDA GENOA RD, HOUSTON, TX 77047

Signing Officer

Name
Homer Britton
Title
Board Chair
Phone
3463331320
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Homer Britton
Formed
2017
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
12

Preparer

Firm
Paul J Christensen & Associates LLC
Address
2110 AUSTIN AVE, WACO, TX 76701
Preparer
Paul J Christensen CPA
Phone
2547523436
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Through rigor, joy, and character development, bloom academy charter school prepares all kindergarten through second grade scholars for success in middle school, high school, and college, and to lead lives of positive impact in their communities.”

Form 990, Page 2, Part III, Line 4A

“Through rigor, joy, and character development, bloom academy charter school prepares all kindegarten through second grade scholars for success in middle school, high school, and college, and to lead lives of positive impact in their communities. R communities.”

Form 990, Part IX, Line 11G

“Misc. Contracted services 231,320 103,862 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“The charter holder is exempt from federal income tax under section 501(c) (3) of the internal revenue code, except to the extent it has unrelated business taxable income. The charter holder has no material unrelated business income for the year ended june 30, 2021. Generally accepted accounting principles requires that the charter holder recognize in its financial statements the financial effects of a tax position, if that position is more likely than not of being sustained upon examination, including resolution of any appeals or litigation processes, based upon the technical merits of the tax position. The requirements also provide guidance on measurement, classification, interest and penalties, and disclosure. Tax positions taken related to the charter holder's tax-exempt status, unrelated business activities taxable income and deductibility of expenses and other miscellaneous tax positions have been reviewed, and management is of the opinion that material positions taken would more likely than not be sustained by examination. Accordingly, the charter holder has not recorded an income tax liability for uncertain tax benefits. For the year ended june 30, 2021, there were no interest or penalties related to income taxes recorded or included in the financial statements. As of june 30, 2021, the charter holder's tax years 2018 through 2020 remain subject to examination.”

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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LIABILITIES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CHARTER HOLDER IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE, EXCEPT TO THE EXTENT IT HAS UNRELATED BUSINESS TAXABLE INCOME. THE CHARTER HOLDER HAS NO MATERIAL UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2021. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRES THAT THE CHARTER HOLDER RECOGNIZE IN ITS FINANCIAL STATEMENTS THE FINANCIAL EFFECTS OF A TAX POSITION, IF THAT POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY APPEALS OR LITIGATION PROCESSES, BASED UPON THE TECHNICAL MERITS OF THE TAX POSITION. THE REQUIREMENTS ALSO PROVIDE GUIDANCE ON MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURE. TAX POSITIONS TAKEN RELATED TO THE CHARTER HOLDER'S TAX-EXEMPT STATUS, UNRELATED BUSINESS ACTIVITIES TAXABLE INCOME AND DEDUCTIBILITY OF EXPENSES AND OTHER MISCELLANEOUS TAX POSITIONS HAVE BEEN REVIEWED, AND MANAGEMENT IS OF THE OPINION THAT MATERIAL POSITIONS TAKEN WOULD MORE LIKELY THAN NOT BE SUSTAINED BY EXAMINATION. ACCORDINGLY, THE CHARTER HOLDER HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX BENEFITS. FOR THE YEAR ENDED JUNE 30, 2021, THERE WERE NO INTEREST OR PENALTIES RELATED TO INCOME TAXES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. AS OF JUNE 30, 2021, THE CHARTER HOLDER'S TAX YEARS 2018 THROUGH 2020 REMAIN SUBJECT TO EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THROUGH RIGOR, JOY, AND CHARACTER DEVELOPMENT, BLOOM ACADEMY CHARTER SCHOOL PREPARES ALL KINDERGARTEN THROUGH SECOND GRADE SCHOLARS FOR SUCCESS IN MIDDLE SCHOOL, HIGH SCHOOL, AND COLLEGE, AND TO LEAD LIVES OF POSITIVE IMPACT IN THEIR COMMUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THROUGH RIGOR, JOY, AND CHARACTER DEVELOPMENT, BLOOM ACADEMY CHARTER SCHOOL PREPARES ALL KINDEGARTEN THROUGH SECOND GRADE SCHOLARS FOR SUCCESS IN MIDDLE SCHOOL, HIGH SCHOOL, AND COLLEGE, AND TO LEAD LIVES OF POSITIVE IMPACT IN THEIR COMMUNITIES. R COMMUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY MEMBERS OF MANAGEMENT PRIOR TO THE FILING OF THE INFORMATION RETURN WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW AT A REGULAR SCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MISC. CONTRACTED SERVICES 231,320 103,862 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TravelGrp/TotalAmt0200
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HOMER BRITTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum03463331320
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BLOOM ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0BLOO
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PAUL J CHRISTENSEN & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02110 AUSTIN AVE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076701
ReturnHeader/PreparerPersonGrp/PhoneNum02547523436
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL J CHRISTENSEN CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-05-16T17:38:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0HOMER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BRITTON
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$730,623
Liabilities
$145,045
Net assets
$585,578
Revenue
$1,794,725
Expenses
$1,427,120
Net income
$367,605
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.06$7.82$0.24$6.51$6.87$0.36
2023Detailed filing. Detailed filing data is available for this year.$9.39$8.79$0.60$5.05$4.86$0.19
2022Detailed filing. Detailed filing data is available for this year.$1.01$0.37$0.64$3.51$3.46$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.73$0.15$0.59$1.79$1.43$0.37
2020Detailed filing. Detailed filing data is available for this year.$0.35$0.13$0.22$0.91$0.92$0.01
2019Summary only. Only limited summary data is available for this year.$0.23$0.00$0.23$0.40$0.17$0.23