Civic Intelligence

Believe Circle City High School Inc

EIN 83-3062439 • 501(c)3 • Indianapolis, IN

Profile

Believe circle city high school is a public college and career preparatory high school dedicated to the achievement of students in the indianapolis area. Our mission is to develop students into leaders through a community that fosters their agency, autonomy, and acceleration providing a foundation for future independence and success.

2540 North Capitol AvenueIndianapolis, IN 46208

www.believeschools.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.86x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

86th percentile

0.84x

Higher debt load relative to revenue than 86% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

38th percentile

-0.1%

Higher net margin than 38% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

76th percentile

17%

Faster asset growth than 76% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

86th percentile

56%

Faster revenue growth than 86% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$3,943,509

Down $412,377 (-9.5%) from 2023

Liabilities

Up

$4,152,119

Up $391,518 (+10%) from 2023

Net Assets

Down

-$208,610

Down $803,895 (-135%) from 2023

Revenue

Up

$5,054,208

Up $571,179 (+13%) from 2023

Expenses

Up

$5,898,603

Up $1,409,607 (+31%) from 2023

Net Income

Down

-$844,395

Down $838,428 (-14051%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2019: $294,299Liabilities 2019: $0Net Assets 2019: $294,2992019Assets 2021: $686,223Liabilities 2021: $152,893Net Assets 2021: $533,3302021Assets 2022: $3,708,160Liabilities 2022: $3,106,908Net Assets 2022: $601,2522022Assets 2023: $4,355,886Liabilities 2023: $3,760,601Net Assets 2023: $595,2852023Assets 2024: $3,943,509Liabilities 2024: $4,152,119Net Assets 2024: -$208,6102024

Highlighted filing

2024

Assets$3,943,509
Liabilities$4,152,119
Net Assets-$208,610

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $295,002Expenses 2019: $703Net Income 2019: $294,2992019Revenue 2021: $1,762,068Expenses 2021: $1,704,741Net Income 2021: $57,3272021Revenue 2022: $2,870,218Expenses 2022: $2,802,296Net Income 2022: $67,9222022Revenue 2023: $4,483,029Expenses 2023: $4,488,996Net Income 2023: -$5,9672023Revenue 2024: $5,054,208Expenses 2024: $5,898,603Net Income 2024: -$844,3952024

Highlighted filing

2024

Revenue$5,054,208
Expenses$5,898,603
Net Income-$844,395

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 18, 2025
Return Version
2023v6.0
Gross Receipts
$5,054,208
Mission and Program Overview

Mission

Believe circle city high school is a public college and career preparatory high school dedicated to the achievement of students in the indianapolis area. Our mission is to develop students into leaders through a community that fosters their agency, autonomy, and acceleration providing a foundation for future independence and success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,174,425$3,199,156▲ $24,731
Savings and Temporary Cash Investments$1,000,669$525,805▼ $474,864
Pledges and Grants Receivable$134,363$150,798▲ $16,435
Cash and Non-Interest-Bearing Accounts$39,084$32,477▼ $6,607
Prepaid Expenses and Deferred Charges$7,345$19,941▲ $12,596
Accounts Receivable-$15,332-
Total Assets$4,355,886$3,943,509▼ $412,377
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,237,142$3,192,295▼ $44,847
Accounts Payable and Accrued Expenses$523,459$678,539▲ $155,080
Other Liabilities$0$281,285▲ $281,285
Total Liabilities$3,760,601$4,152,119▲ $391,518
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$595,285$-208,610▼ $803,895
Total Net Assets Fund Balance$595,285$-208,610▼ $803,895
Total Liabilities and Net Assets / Fund Balance$4,355,886$3,943,509▼ $412,377

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,666,389$233,611$2,900,000
Leasehold Improvements$368,423$110,799$479,222
Other Land Buildings$138,595$62,866$201,461
Equipment$25,749$23,968$49,717
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kimberly Neal-brannumExecutive DirectorFT$154,736$6,406$161,142
Kaitlyn ReimerChief Academic OfficerFT$113,139$3,394$116,533

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$4,817,612
Program Service Revenue
$24,219
Investment Income
$151
Other Revenue
$212,226
All Other Contributions
$920,530
Change in Net Assets
$-844,395

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,054,208
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,054,208
Total Revenue per Form 990
$5,054,208
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,429,569
Salaries, Compensation, and Employee Benefits$2,469,034
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,326,558$345,057-$1,671,615
Fees for Services Other$967,944$40,639-$1,008,583
Information Technology$448,967$96,270-$545,237
Occupancy$464,941--$464,941
Current Officers, Directors, Trustees, and Key Employees$317,432$82,568-$400,000
Office Expenses$271,972$38,111-$310,083
Depreciation Depletion$195,193--$195,193
Other Employee Benefits$136,921$56,998-$193,919
Interest$175,684--$175,684
Payroll Taxes$120,880$50,320-$171,200
Fees for Services Accounting-$94,205-$94,205
Travel$47,476$26,600-$74,076
Insurance$54,497--$54,497
Pension Plan Contributions$22,806$9,494-$32,300
Other Expenses$3,422$12,352-$15,774
Fees for Services Management-$13,955-$13,955
Advertising-$4,208-$4,208
Fees for Services Legal$2,045--$2,045
Total Functional Expenses$5,027,826$870,777$0$5,898,603

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,898,603
Total Expenses per Audited Statements$5,898,603
Total Expenses per Form 990$5,898,603
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
Refundable Advances$281,285
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
Yes
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 4

The organization filed articles of amendment to change its name to believe circle city high school, inc. In addition, a separate legal entity called believe schools has been established to facilitate the pre-opening procedures and serve as the operating entity for a new school in st. Louis, missouri starting in the 2024-2025 school year.

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

The form 990 was provided to the believe executive and dean of operations. The 990 is then sent to the finance committee and the board chair for final review and sign-off.

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

Believe schools distributes an annual conflict of interest form, required by the authorizer.

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

The officer's last rate of pay is requested and compared to local comps in the area, after which a fair offer is made. This process has been applied for no less than three leaders in the school.

Form 990, Part VI, Section C, Line 19

These documents will be stored on our on-line portal through board on track which integrates with our website.

Filing and Contact Details

Filer

Filer Name
Believe Circle City High School Inc
EIN
83-3062439
Phone
3172961954
Address
2540 NORTH CAPITOL AVENUE, INDIANAPOLIS, IN 46208

Signing Officer

Name
Kimberly Neal-brannum
Title
Executive Director
Phone
3176432523
Signed
2025-04-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kimberly Neal-brannum
Formed
2018
Legal Domicile
In
Voting Board Members
9
Independent Board Members
9
Employees
38
Volunteers
9

Preparer

Firm
Donovan Pc
Address
5151 E US HWY 36, AVON, IN 46123
Preparer
Benjamin a Lippert CPA
Phone
3177456411
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Teaching services: program service expenses 844,870. Management and general expenses 0. Fundraising expenses 0. Total expenses 844,870. Security: program service expenses 1,234. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,234. Recruiting: program service expenses 64,000. Management and general expenses 1,147. Fundraising expenses 0. Total expenses 65,147. Payroll processing: program service expenses 0. Management and general expenses 39,492. Fundraising expenses 0. Total expenses 39,492. Vehicle operation: program service expenses 57,840. Management and general expenses 0. Fundraising expenses 0. Total expenses 57,840.

FORM 990, PART XII, LINE 2C:

The organization's board of directors assumes the oversight of the audit and selection of an independent accountant. The selection and review process has not changed from the previous year.

Financial Statement Notes

PART X, LINE 2:

Believe schools, inc. Received a determination from the u.s. Treasury department stating it qualifies under the provisions of section 501(c)(3) of the internal revenue code as a tax-exempt organization; however, believe schools, inc. Would be subject to tax on income unrelated to its tax-exempt purpose. For the years ended june 30, 2024 and 2023, no accounting for federal and state income taxes was required to be included in the accompanying consolidated financial statements. As a wholly-owned subsidiary of believe schools, inc., the accounts and balances of build believe properties, llc are reported on believe schools, inc.'s tax filings. Professional accounting standards require believe schools, inc. To recognize a tax liability only if it is more likely than not the tax position would not be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax liability 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. Believe schools, inc. Examined this issue and has determined there are no material contingent tax liabilities or questionable tax positions. Tax years ended after june 30, 2020 are currently open to audit for both federal and state purposes.

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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0BELIEVE CIRCLE CITY HIGH SCHOOL IS A PUBLIC COLLEGE AND CAREER PREPARATORY HIGH SCHOOL DEDICATED TO THE ACHIEVEMENT OF STUDENTS IN THE INDIANAPOLIS AREA. OUR MISSION IS TO DEVELOP STUDENTS INTO LEADERS THROUGH A COMMUNITY THAT FOSTERS THEIR AGENCY, AUTONOMY, AND ACCELERATION PROVIDING A FOUNDATION FOR FUTURE INDEPENDENCE AND SUCCESS.
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IRS990/OperateHospitalInd00
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IRS990/OtherExpensesGrp/Desc1TRANSPORTATION
IRS990/OtherExpensesGrp/Desc2PROFESSIONAL DEVELOPMEN
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt050320
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IRS990/PayrollTaxesGrp/TotalAmt0171200
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt09494
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IRS990/ProgSrvcAccomActy2Grp/Desc0DUAL ENROLLMENT PROGRAMS OFFERED THROUGH PARTNERSHIPS WITH THE MINORITY CONTRACTORS COLLABORATION, COSMETOLOGY PROGRAMS, MESSER CONSTRUCTION, AND OTHER ORGANIZATIONS PROVIDE STUDENTS WITH HANDS-ON CAREER AND TECHNICAL EDUCATION OPPORTUNITIES. THESE PROGRAMS SERVE OVER 50 STUDENTS ANNUALLY, FOCUSING ON EQUIPPING THEM WITH INDUSTRY-RELEVANT SKILLS AND CERTIFICATIONS WHILE EARNING HIGH SCHOOL AND COLLEGE CREDITS. THE MINORITY CONTRACTORS COLLABORATION AND MESSER CONSTRUCTION PROGRAMS EMPHASIZE TRAINING IN CONSTRUCTION AND SKILLED TRADES, FOSTERING PATHWAYS INTO LUCRATIVE INDUSTRIES. COSMETOLOGY PROGRAMS PROVIDE STUDENTS WITH THE FOUNDATIONAL SKILLS AND HOURS REQUIRED FOR LICENSING. THESE INITIATIVES PREPARE STUDENTS FOR IMMEDIATE ENTRY INTO THE WORKFORCE OR FURTHER EDUCATION, PROMOTING CAREER READINESS AND ECONOMIC MOBILITY.
IRS990/ProgSrvcAccomActy3Grp/Desc0COUNSELING AND THERAPY PROGRAMS PROVIDED THROUGH PARTNERSHIPS WITH ONE SENSIBLE SOLUTION, OPEN SEAT, AND SIMILAR ORGANIZATIONS DELIVER CRITICAL MENTAL HEALTH AND LIFE COACHING SERVICES TO STUDENTS. OVER 50% OF PARTICIPATING STUDENTS RECEIVE WEEKLY SESSIONS TAILORED TO THEIR INDIVIDUAL NEEDS, FOCUSING ON PERSONAL GROWTH, EMOTIONAL REGULATION, AND RESILIENCE. THESE PROGRAMS AIM TO SUPPORT STUDENTS' OVERALL WELL-BEING, ADDRESSING CHALLENGES SUCH AS STRESS, TRAUMA, AND SOCIAL-EMOTIONAL DEVELOPMENT. WITH PROFESSIONAL COUNSELORS AND THERAPISTS, THESE INITIATIVES FOSTER A SUPPORTIVE ENVIRONMENT THAT EMPOWERS STUDENTS TO THRIVE ACADEMICALLY AND PERSONALLY.
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-844395
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0236445
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01000669
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0525805
IRS990ScheduleA/SchoolInd0X
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0281285
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REFUNDABLE ADVANCES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BELIEVE SCHOOLS, INC. RECEIVED A DETERMINATION FROM THE U.S. TREASURY DEPARTMENT STATING IT QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS A TAX-EXEMPT ORGANIZATION; HOWEVER, BELIEVE SCHOOLS, INC. WOULD BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS TAX-EXEMPT PURPOSE. FOR THE YEARS ENDED JUNE 30, 2024 AND 2023, NO ACCOUNTING FOR FEDERAL AND STATE INCOME TAXES WAS REQUIRED TO BE INCLUDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. AS A WHOLLY-OWNED SUBSIDIARY OF BELIEVE SCHOOLS, INC., THE ACCOUNTS AND BALANCES OF BUILD BELIEVE PROPERTIES, LLC ARE REPORTED ON BELIEVE SCHOOLS, INC.'S TAX FILINGS. PROFESSIONAL ACCOUNTING STANDARDS REQUIRE BELIEVE SCHOOLS, INC. TO RECOGNIZE A TAX LIABILITY ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WOULD NOT BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX LIABILITY 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. BELIEVE SCHOOLS, INC. EXAMINED THIS ISSUE AND HAS DETERMINED THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. TAX YEARS ENDED AFTER JUNE 30, 2020 ARE CURRENTLY OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03199156
IRS990ScheduleD/TotalExpensesPerForm990Amt05898603
IRS990ScheduleD/TotalLiabilityAmt0281285
IRS990ScheduleD/TotalRevenuePerForm990Amt05054208
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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/ExplanationTxt0BELIEVE'S NONDISCRIMINATORY POLICY IS PRESENT IN THE INITIAL CHARTER, PUBLICIZED IN THE EMPLOYEE AND STUDENT HANDBOOK, WEBSITE, AND WILL BE REVIEWED DURING STAFF PD AND STUDENT ORIENTATION. BELIEVE DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGION (CREED), GENDER, GENDER EXPRESSION, AGE, NATIONAL ORIGIN (ANCESTRY), DISABILITY, MARITAL STATUS, SEXUAL ORIENTATION, OR MILITARY STATUS, IN ANY OF ITS ACTIVITIES.
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
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt04642

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