Civic Intelligence

Two Rivers Classical Academy

990 • Fiscal year 2023 • EIN 83-0897920

Jul 01, 2022 to Jun 30, 2023 • Filed on Oct 24, 2023

Organization ProfileTWORIVERSCLASSICAL.ORG
521 E Locust StreetDes Moines, IA 50309

(515) 313-3213

Siviq Scores

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

Liabilities / Assets

88th percentile

0.57x

Higher debt load relative to assets than 88% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

0.55x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

69th percentile

16%

Higher net margin than 69% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

71st percentile

$57,813

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

12th percentile

-19%

Faster asset growth than 12% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

72nd percentile

30%

Faster revenue growth than 72% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$946,969

Down $221,066 (-19%) from 2022

Net Assets

Up

$406,897

Up $148,151 (+57%) from 2022

Liabilities

Down

$540,072

Down $369,217 (-41%) from 2022

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin69th percentile

Revenue

Up

$988,132

Up $225,203 (+30%) from 2022

Expenses

Up

$832,398

Up $181,781 (+28%) from 2022

Net Income

Up

$155,734

Up $43,422 (+39%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2019: $51,681Liabilities 2019: $55,629Net Assets 2019: -$3,9482019Assets 2020: $266,725Liabilities 2020: $212,905Net Assets 2020: $53,8202020Assets 2021: $536,489Liabilities 2021: $388,700Net Assets 2021: $147,7892021Assets 2022: $1,168,035Liabilities 2022: $909,289Net Assets 2022: $258,7462022Assets 2023: $946,969Liabilities 2023: $540,072Net Assets 2023: $406,8972023Assets 2024: $1,221,267Liabilities 2024: $611,299Net Assets 2024: $609,9682024Assets 2025: $741,877Liabilities 2025: $160,167Net Assets 2025: $581,7102025

Highlighted filing

2023

Assets$946,969
Liabilities$540,072
Net Assets$406,897
Open 2023 Filing

Operations Trend

Revenue Growth72nd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $12,055Expenses 2019: $16,003Net Income 2019: -$3,9482019Revenue 2020: $206,554Expenses 2020: $148,786Net Income 2020: $57,7682020Revenue 2021: $458,355Expenses 2021: $372,857Net Income 2021: $85,4982021Revenue 2022: $762,929Expenses 2022: $650,617Net Income 2022: $112,3122022Revenue 2023: $988,132Expenses 2023: $832,398Net Income 2023: $155,7342023Revenue 2024: $1,296,635Expenses 2024: $1,093,659Net Income 2024: $202,9762024Revenue 2025: $1,232,434Expenses 2025: $1,216,319Net Income 2025: $16,1152025

Highlighted filing

2023

Revenue$988,132
Expenses$832,398
Net Income$155,734
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 24, 2023
Return Version
2022v5.0
Gross Receipts
$988,132
Mission and Program Overview

Mission

Organize and assemble the staff, facilities, and programs for Two Rivers Classical Academy and its activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$568,344$841,496▲ $273,152
Cash and Non-Interest-Bearing Accounts$104,317$80,599▼ $23,718
Accounts Receivable$475,274$4,774▼ $470,500
Prepaid Expenses and Deferred Charges$500$500→ $0
Total Assets$1,168,035$946,969▼ $221,066
Other Assets Total$19,600$19,600→ $0
Liabilities
Deferred Revenue$865,575$496,215▼ $369,360
Accounts Payable and Accrued Expenses$43,714$43,857▲ $143
Total Liabilities$909,289$540,072▼ $369,217
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$249,105$402,216▲ $153,111
Net Assets With Donor Restrictions$9,641$4,681▼ $4,960
Total Net Assets Fund Balance$258,746$406,897▲ $148,151
Total Liabilities and Net Assets / Fund Balance$1,168,035$946,969▼ $221,066

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$19,600--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$9,641---$4,641
2021$9,641---$9,641
2020$1,170$32,271-$500$9,641
2019$0$1,170--$1,170
2018$0---$0
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nathan OppmanDirector & HeadmasterFT$57,813$57,813
Zach DietrichDirector and PresidentPT$17,250$17,250
Andrew KarasDirector and TreasurerPT$12,917$12,917

Board Members and Trustees

NameTitle
Andrew SchoonhovenDirector
Elizabeth BomerDirector
Stanley JensenDirector
Andrew FogleDirector and Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$19,393
Program Service Revenue
$960,087
Investment Income
$8,652
Other Revenue
$0
All Other Contributions
$19,393
Change in Net Assets
$155,734

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$650,353
Other Expenses$177,670
Grants and Similar Amounts Paid$4,375
Total Fundraising Expense$2,098
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$549,631$0$0$549,631
Current Officers, Directors, Trustees, and Key Employees$0$87,980$0$87,980
Occupancy$46,302$2,437$0$48,739
All Other Expenses$23,478$1,216$1,270$25,964
Other Expenses$4,750$15,047$0$19,797
Insurance$11,297$1,500$0$12,797
Other Employee Benefits$0$12,742$0$12,742
Fees for Services Legal$0$12,462$0$12,462
Information Technology$4,750$3,160$0$7,910
Travel$5,614$990$0$6,604
Grants to Domestic Individuals$4,375--$4,375
Fees for Services Accounting$0$575$0$575
Advertising$0$0$258$258
Total Functional Expenses$688,074$142,226$2,098$832,398
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
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Two Rivers Classical Academy
EIN
83-0897920
Phone
5153133213
Address
521 E Locust Street, Des Moines, IA 50309

Signing Officer

Name
Andrew Karas
Title
Treasurer
Phone
5153133213
Signed
2023-10-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Karas
Formed
2018
Legal Domicile
Ia
Voting Board Members
6
Independent Board Members
6
Employees
40
Volunteers
50

Preparer

Firm
Delmar R Mohler CPA
Address
2455 Scenic Valley Dr, West Des Moines, IA 50265
Preparer
Delmar R Mohler CPA
Phone
5152827250
Supplemental Narrative

Additional Explanations

Pt VI, Line 15A

“The board of directors decided to provide modest compensation to some board members providing valuable services for operating the school outside the scope of their duties as board members.”

Pt VI, Line 15B

“The school does not have any officers other than the board members nor does it have any key employees.”

Pt VI, Line 11B

“A draft of the irs form 990 was delivered to the board of directors for their review and approval. Upon their approval, the treasurer signed and delivered the irs form 8879-eo authorizing the preparer to file the irs form 990 electronically with the irs.”

Pt VI, Line 12C

“The two rivers classical academy conflict of interest policy applies to all of the members of its board of directors, officers, employees and volunteers as each one is an interested party. Any interested party is required to disclose the existance of any actual, potential, or perceived conflict of interest as soon as the possibility of a conflict of interest is identified to the board of directors for their review, assessment, and potential action. In addition, each year each interested party is required to affirm with a written statement that they have received a copy of the conflict of interest policy, read and understand the policy, agree to comply with the policy, and affirm that they complied with the conflict of interest policy.”

Pt VI, Line 19

“Two rivers classical academy makes its governing two rivers classical academy makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. During its fiscal year ended june 30, 2023, no requests for such information were received.”

Financial Statement Notes

Pt III, Line 4

“A donation of six pieces of art work were received that will be displayed for the benefit and edification of the students and friends of two rivers classical academy.”

Pt V, Line 4

“A donation was received designated for the purchase of items that had not been acquired at the year ended june 30, 2020.”

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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/RevenueAmt0988132
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0568344
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0841496
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
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IRS990ScheduleD/CollectionUsedOtherPurposesGrp/CollectionUsedOtherPurposesInd0X
IRS990ScheduleD/CollectionUsedOtherPurposesGrp/OtherPurposesDesc0PUBLIC DISPLAY AT SCHOOL FOR ITS STUDENTS
IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt09641
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt04641
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt05000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt09641
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt09641
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01170
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt032271
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt09641
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt023300
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0500
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt01170
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01170
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt019600
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0WORKS OF ART - PAINTINGS
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0A DONATION OF SIX PIECES OF ART WORK WERE RECEIVED THAT WILL BE DISPLAYED FOR THE BENEFIT AND EDIFICATION OF THE STUDENTS AND FRIENDS OF TWO RIVERS CLASSICAL ACADEMY.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1A DONATION WAS RECEIVED DESIGNATED FOR THE PURCHASE OF ITEMS THAT HAD NOT BEEN ACQUIRED AT THE YEAR ENDED JUNE 30, 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt III, Line 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt V, Line 4
IRS990ScheduleD/TotalBookValueOtherAssetsAmt019600
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE TWO RIVERS CLASSICAL ACADEMY STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY APPEARS ON THE FIRST PAGE OF ITS WEBSITE AT TWORIVERSCLASSICAL.ORG AND PROMINENTLY IN ALL PUBLISHED MATERIALS. NO ADDITIONAL INFORMATION REQUIRED.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0true
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0DURING 2019, SIX PAINTING WERE RECEIVED FOR DISPLAY THAT TWO RIVERS CLASSICAL ACADEMY WILL RETAIN FOR AT LEAST THREE YEARS.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt I Line 30b
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS DECIDED TO PROVIDE MODEST COMPENSATION TO SOME BOARD MEMBERS PROVIDING VALUABLE SERVICES FOR OPERATING THE SCHOOL OUTSIDE THE SCOPE OF THEIR DUTIES AS BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL DOES NOT HAVE ANY OFFICERS OTHER THAN THE BOARD MEMBERS NOR DOES IT HAVE ANY KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A DRAFT OF THE IRS FORM 990 WAS DELIVERED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. UPON THEIR APPROVAL, THE TREASURER SIGNED AND DELIVERED THE IRS FORM 8879-EO AUTHORIZING THE PREPARER TO FILE THE IRS FORM 990 ELECTRONICALLY WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TWO RIVERS CLASSICAL ACADEMY CONFLICT OF INTEREST POLICY APPLIES TO ALL OF THE MEMBERS OF ITS BOARD OF DIRECTORS, OFFICERS, EMPLOYEES AND VOLUNTEERS AS EACH ONE IS AN INTERESTED PARTY. ANY INTERESTED PARTY IS REQUIRED TO DISCLOSE THE EXISTANCE OF ANY ACTUAL, POTENTIAL, OR PERCEIVED CONFLICT OF INTEREST AS SOON AS THE POSSIBILITY OF A CONFLICT OF INTEREST IS IDENTIFIED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW, ASSESSMENT, AND POTENTIAL ACTION. IN ADDITION, EACH YEAR EACH INTERESTED PARTY IS REQUIRED TO AFFIRM WITH A WRITTEN STATEMENT THAT THEY HAVE RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, READ AND UNDERSTAND THE POLICY, AGREE TO COMPLY WITH THE POLICY, AND AFFIRM THAT THEY COMPLIED WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TWO RIVERS CLASSICAL ACADEMY MAKES ITS GOVERNING TWO RIVERS CLASSICAL ACADEMY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. DURING ITS FISCAL YEAR ENDED JUNE 30, 2023, NO REQUESTS FOR SUCH INFORMATION WERE RECEIVED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt019393
IRS990/TotalEmployeeCnt040
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02098
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0142226
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0688074
IRS990/TotalFunctionalExpensesGrp/TotalAmt0832398
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0909289
IRS990/TotalLiabilitiesEOYAmt0540072
IRS990/TotalLiabilitiesGrp/BOYAmt0909289
IRS990/TotalLiabilitiesGrp/EOYAmt0540072
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0258746
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0406897
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0688074
IRS990/TotalProgramServiceRevenueAmt0960087
IRS990/TotalReportableCompFromOrgAmt087980
IRS990/TotalRevenueGrp/ExclusionAmt08652
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0960087
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0988132
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01168035
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0946969
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0990
IRS990/TravelGrp/ProgramServicesAmt05614
IRS990/TravelGrp/TotalAmt06604
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt01303 NW 93RD COURT
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$946,969
Liabilities
$540,072
Net assets
$406,897
Revenue
$988,132
Expenses
$832,398
Net income
$155,734
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.74$0.16$0.58$1.23$1.22$0.02
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.22$0.61$0.61$1.30$1.09$0.20
2023Detailed filing. Detailed filing data is available for this year.$0.95$0.54$0.41$0.99$0.83$0.16
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$0.91$0.26$0.76$0.65$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.39$0.15$0.46$0.37$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.27$0.21$0.05$0.21$0.15$0.06
2019Detailed filing. Detailed filing data is available for this year.$0.05$0.06$0.00$0.01$0.02$0.00