Civic Intelligence

Providence Academy

990 • Fiscal year 2021 • EIN 83-0795310

Jul 01, 2020 to Jun 30, 2021 • Filed on May 14, 2022

Organization ProfileWWW.PROVIDENCECLE.COM
12193 W Pleasant Valley RoadParma, OH 44130

(440) 382-0745

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.76x

Higher debt load relative to assets than 92% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

83rd percentile

0.16x

Higher debt load relative to revenue than 83% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

39th percentile

1.3%

Higher net margin than 39% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

91st percentile

$43,333

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 20.6% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

81st percentile

53%

Faster asset growth than 81% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

82nd percentile

76%

Faster revenue growth than 82% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$44,161

Up $15,228 (+53%) from 2020

Net Assets

Up

$10,717

Up $2,697 (+34%) from 2020

Liabilities

Up

$33,444

Up $12,531 (+60%) from 2020

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin39th percentile

Revenue

Up

$210,273

Up $90,787 (+76%) from 2020

Expenses

Up

$207,577

Up $74,051 (+55%) from 2020

Net Income

Up

$2,696

Up $16,736 (+119%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$300K$200K$100K$0-$100KAssets 2019: $22,140Liabilities 2019: $80Net Assets 2019: $22,0602019Assets 2020: $28,933Liabilities 2020: $20,913Net Assets 2020: $8,0202020Assets 2021: $44,161Liabilities 2021: $33,444Net Assets 2021: $10,7172021Assets 2022: $28,747Liabilities 2022: $43,282Net Assets 2022: -$14,5352022Assets 2023: $30,482Liabilities 2023: $33,122Net Assets 2023: -$2,6402023Assets 2024: $197,230Liabilities 2024: $35,019Net Assets 2024: $162,2112024Assets 2025: $295,187Liabilities 2025: $24,761Net Assets 2025: $270,4262025

Highlighted filing

2021

Assets$44,161
Liabilities$33,444
Net Assets$10,717
Open 2021 Filing

Operations Trend

Revenue Growth82nd percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2019: $45,181Expenses 2019: $23,121Net Income 2019: $22,0602019Revenue 2020: $119,486Expenses 2020: $133,526Net Income 2020: -$14,0402020Revenue 2021: $210,273Expenses 2021: $207,577Net Income 2021: $2,6962021Revenue 2022: $367,514Expenses 2022: $388,414Net Income 2022: -$20,9002022Revenue 2023: $451,526Expenses 2023: $439,631Net Income 2023: $11,8952023Revenue 2024: $641,177Expenses 2024: $471,098Net Income 2024: $170,0792024Revenue 2025: $697,968Expenses 2025: $591,068Net Income 2025: $106,9002025

Highlighted filing

2021

Revenue$210,273
Expenses$207,577
Net Income$2,696
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 14, 2022
Return Version
2020v4.2
Gross Receipts
$212,580
Mission and Program Overview

Mission

Equipping students with the wisdom to distinguish the true, the good, and the beautiful for the glory of christ.

Classical christian school enrolling students in grades k-12

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,029$25,292▲ $14,263
Loans From Officers Directors$18,000$25,000▲ $7,000
Rtn Earn Endowment Incm Other Fnds$8,020$10,717▲ $2,697
Cash and Non-Interest-Bearing Accounts$6,614$7,642▲ $1,028
Savings and Temporary Cash Investments$500$500→ $0
Prepaid Expenses and Deferred Charges$563$500▼ $63
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$28,933$44,161▲ $15,228
Other Assets Total$10,227$10,227→ $0
Liabilities
Other Liabilities$0$6,825▲ $6,825
Accounts Payable and Accrued Expenses$2,913$1,619▼ $1,294
Total Liabilities$20,913$33,444▲ $12,531
Net Assets / Fund Balance
Total Net Assets Fund Balance$8,020$10,717▲ $2,697
Total Liabilities and Net Assets / Fund Balance$28,933$44,161▲ $15,228

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$25,292$2,747$28,039
Other Assets Org$10,227--
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Oleh ZhakunetsHead of SchoolFT$43,333$43,333

Board Members and Trustees

NameTitle
Ivan BilskiyChairman
Taras BilskiyDirector
Paul YakovetsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$80,247
Program Service Revenue
$132,319
Investment Income
$0
Other Revenue
$-2,293
All Other Contributions
$72,547
Change in Net Assets
$2,696
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$108,960
Other Expenses$56,331
Grants and Similar Amounts Paid$42,286
Total Fundraising Expense$9,449
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$79,063--$79,063
Grants to Domestic Individuals$42,286--$42,286
Occupancy$24,453$6,986$3,492$34,931
Current Officers, Directors, Trustees, and Key Employees$10,833$5,417$5,416$21,666
Payroll Taxes$6,716$475$475$7,666
All Other Expenses$4,581$215-$4,796
Advertising$3,228--$3,228
Other Expenses$1,770--$1,770
Insurance$466$133$66$665
Other Employee Benefits$565--$565
Fees for Services Other$152--$152
Fees for Services Legal-$31-$31
Total Functional Expenses$184,871$13,257$9,449$207,577
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$2,307
Fundraising Gross Income$14
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$18,000$25,000▲ $7,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Revenue$6,825
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
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 A, Line 2

“Taras bilskiy and ivan bilskiy are brothers”

Form 990, Part VI, Section A, Line 8B

“There were no committees during current fiscal year”

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

“The organization provided a complete copy of the form 990 to all members of the board for review and commenting prior to filing.”

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

“Board members attest annually that they have read providence academy's board conflict of interest policy and agree to comply fully with its terms and conditions. Signed disclosures of actual or potential conflicts of interest are provided to the board president in writing anually.”

Form 990, Part VI, Section B, Line 15A

“Compensation of the head of school is discussed and voted on during board meeting.”

Form 990, Part VI, Section C, Line 18

“Providence academy's form 1023 and form 990 are available for public inspection upon written request.”

Form 990, Part VI, Section C, Line 19

“Organization makes its governing documents, conflict of interest policy, and financial information to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Providence Academy
EIN
83-0795310
Phone
4403820745
Address
12193 W PLEASANT VALLEY ROAD, PARMA, OH 44130

Signing Officer

Name
Oleh Zhakunets
Title
Head of School
Phone
4403820745
Signed
2022-05-14

Organization Details

Principal Officer
Oleh Zhakunets
Formed
2018
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
3
Employees
3
Volunteers
20
Raw XML AppendixShowing 400 of 408 raw XML fields

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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION HAS PUBLICIZED ITS RACIALLY NONDISCRIMINATION POLICY ON ITS WEBSITE
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ASSISTANCE TO INDIVIDUALS CONSISTS OF TUITION DISCOUNTS VALUED AT FAIR MARKET VALUE AND APPLIED TO THE TUITIONS OF EACH QUALIFIED STUDENT. NO CASH ASSISTANCE HAS BEEN GIVEN.
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IRS990/ScheduleJRequiredInd00
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd11
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd10
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IRS990ScheduleL/TotalBalanceDueAmt025000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TARAS BILSKIY AND IVAN BILSKIY ARE BROTHERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE WERE NO COMMITTEES DURING CURRENT FISCAL YEAR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION PROVIDED A COMPLETE COPY OF THE FORM 990 TO ALL MEMBERS OF THE BOARD FOR REVIEW AND COMMENTING PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS ATTEST ANNUALLY THAT THEY HAVE READ PROVIDENCE ACADEMY'S BOARD CONFLICT OF INTEREST POLICY AND AGREE TO COMPLY FULLY WITH ITS TERMS AND CONDITIONS. SIGNED DISCLOSURES OF ACTUAL OR POTENTIAL CONFLICTS OF INTEREST ARE PROVIDED TO THE BOARD PRESIDENT IN WRITING ANUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION OF THE HEAD OF SCHOOL IS DISCUSSED AND VOTED ON DURING BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROVIDENCE ACADEMY'S FORM 1023 AND FORM 990 ARE AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL INFORMATION TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TerminateOperationsInd00
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IRS990/WebsiteAddressTxt0WWW.PROVIDENCECLE.COM
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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
$44,161
Liabilities
$33,444
Net assets
$10,717
Revenue
$210,273
Expenses
$207,577
Net income
$2,696
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.95$0.25$2.70$6.98$5.91$1.07
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.97$0.35$1.62$6.41$4.71$1.70
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.30$0.33$0.03$4.52$4.40$0.12
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$0.43$0.15$3.68$3.88$0.21
2021Detailed filing. Detailed filing data is available for this year.$0.44$0.33$0.11$2.10$2.08$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.21$0.08$1.19$1.34$0.14
2019Summary only. Only limited summary data is available for this year.$0.22$0.00$0.22$0.45$0.23$0.22