Civic Intelligence

Believe Schools Inc.

990 • Fiscal year 2021 • EIN 83-3062439

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

2540 N Capital AvenueIndianapolis, IN 46202

(317) 296-1954

Siviq Scores

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

Liabilities / Assets

69th percentile

0.22x

Higher debt load relative to assets than 69% of similar nonprofits.

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

Liabilities / Revenue

49th percentile

0.09x

Higher debt load relative to revenue than 49% of similar nonprofits.

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

Net Margin

32nd percentile

3.3%

Higher net margin than 32% of similar nonprofits.

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

Top Officer Pay

84th percentile

$146,327

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

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

Asset Growth

87th percentile

53%

Faster asset growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2021

Revenue Growth

91st percentile

144%

Faster revenue growth than 91% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2021

Assets

Up

$686,223

Up $391,924 (+133%) from 2019

Net Assets

Up

$533,330

Up $239,031 (+81%) from 2019

Liabilities

Up

$152,893

Up $152,893 from 2019

Revenue

Up

$1,762,068

Up $1,467,066 (+497%) from 2019

Expenses

Up

$1,704,741

Up $1,704,038 (+242395%) from 2019

Net Income

Down

$57,327

Down $236,972 (-81%) from 2019

Historical Trend

Balance Sheet Trend

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

$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

2021

Assets$686,223
Liabilities$152,893
Net Assets$533,330

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$1,762,068
Expenses$1,704,741
Net Income$57,327
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.2
Gross Receipts
$1,762,068
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
Savings and Temporary Cash Investments$650,265$500,153▼ $150,112
Pledges and Grants Receivable$41,820$76,254▲ $34,434
Land, Buildings, and Equipment, Net$10,000$63,360▲ $53,360
Cash and Non-Interest-Bearing Accounts$69,301$27,331▼ $41,970
Prepaid Expenses and Deferred Charges$1,071$19,125▲ $18,054
Total Assets$772,457$686,223▼ $86,234
Liabilities
Deferred Revenue$270,000$0▼ $270,000
Accounts Payable and Accrued Expenses$13,980$84,785▲ $70,805
Other Liabilities$0$68,108▲ $68,108
Unsecured Notes Loans Payable$12,474$0▼ $12,474
Total Liabilities$296,454$152,893▼ $143,561
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$476,003$533,330▲ $57,327
Total Net Assets Fund Balance$476,003$533,330▲ $57,327
Total Liabilities and Net Assets / Fund Balance$772,457$686,223▼ $86,234

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$44,195$4,000$48,195
Leasehold Improvements$19,165$2,835$22,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kimberly Neal-brannumExecutive DirectorFT$146,327$146,327

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,736,710
Program Service Revenue
$0
Investment Income
$348
Other Revenue
$25,010
All Other Contributions
$713,265
Change in Net Assets
$57,327

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,762,068
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,762,068
Total Revenue per Form 990
$1,762,068
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$926,019
Salaries, Compensation, and Employee Benefits$778,722
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$334,804$204,914-$539,718
Occupancy$259,826--$259,826
Current Officers, Directors, Trustees, and Key Employees$92,637$56,786-$149,423
Office Expenses$90,470$24,624-$115,094
Information Technology$91,573$20,498-$112,071
Fees for Services Other$85,814$863-$86,677
Payroll Taxes$31,315$19,158-$50,473
Fees for Services Accounting$49,862--$49,862
Other Employee Benefits$13,336$9,210-$22,546
All Other Expenses$17,338$4,603-$21,941
Other Expenses$20,183--$20,183
Advertising-$16,620-$16,620
Pension Plan Contributions$9,967$6,595-$16,562
Insurance$14,644--$14,644
Travel$6,209$6,788-$12,997
Depreciation Depletion$6,835--$6,835
Total Functional Expenses$1,334,082$370,659$0$1,704,741

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,704,741
Total Expenses per Audited Statements$1,704,741
Total Expenses per Form 990$1,704,741
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
Deferred Rent$68,108
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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 8B

No committees were established at the time.

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

Completed by the believe executive and dean of operations. Then sent to review by the finance committee and 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. Our authorizer requires so.

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

We request the last rate of pay. We compare that rate of pay to local comps in the area. We then make a fair offer. This process is done with 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 Schools Inc
EIN
83-3062439
Phone
3172961954
Address
2540 N CAPITAL AVENUE, INDIANAPOLIS, IN 46202

Signing Officer

Name
Kimberly Neal-brannum
Title
Executive Director
Phone
3176432523
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kimberly Neal-brannum
Formed
2018
Legal Domicile
In
Voting Board Members
10
Independent Board Members
10
Employees
13
Volunteers
10

Preparer

Firm
Donovan Pc
Address
5151 E US HWY 36, AVON, IN 46123
Preparer
Jeffrey M Donovan CPA Cva Maff
Phone
3177456411
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

This is bcc's first year of operation serving grades 9 & 10.

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. Because the school commenced operations in 2020, all tax years are currently open to audit for both federal and state purposes.

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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt06595
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt09967
IRS990/PensionPlanContributionsGrp/TotalAmt016562
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt041820
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt076254
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01071
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt019125
IRS990/PrincipalOfficerNm0KIMBERLY NEAL-BRANNUM
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc030%+ OF SCHOLARS ARE DUALLY ENROLLED AT IVY TECH. OUR GOAL IS FOR OUR SCHOLARS TO GRADUATE WITH DUAL CERTIFICATION OR A DUAL DEGREE (ASSOCIATES OR BACHELORS) FROM IVY TECH OR MARIAN UNIVERSITY.
IRS990/ProgSrvcAccomActy3Grp/Desc0SOCIAL EMOTIONAL LEARNING: ROUGHLY 45% OF BCCHS SCHOLARS ARE ENROLLED IN THERAPY AND/OR COUNSELING SERVICES THROUGH OUR EXTERNAL PARTNER, ONE SENSIBLE SOLUTIONS. OSS HAS FOUR THERAPISTS THAT COME ON-SITE TO BCC WEEKLY TO MEET WITH SCHOLARS. ADDITIONALLY, BCCHS OFFERS WEEKLY ONE-ON-ONE MEDITATION CLASSES FOR SCHOLARS TO UTILIZE AS NEEDED OR REQUESTED.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0645195
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0263
IRS990/PYOtherExpensesAmt0281451
IRS990/PYOtherRevenueAmt03223
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0171704
IRS990/PYSalariesCompEmpBnftPaidAmt0195526
IRS990/PYTotalExpensesAmt0476977
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0648681
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt057327
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0650265
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0500153
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01704741
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt019165
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02835
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt022000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt044195
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04000
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt048195
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt068108
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED RENT
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01762068
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. BECAUSE THE SCHOOL COMMENCED OPERATIONS IN 2020, ALL TAX YEARS ARE CURRENTLY OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt063360
IRS990ScheduleD/TotalExpensesPerForm990Amt01704741
IRS990ScheduleD/TotalLiabilityAmt068108
IRS990ScheduleD/TotalRevenuePerForm990Amt01762068
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01762068
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01704741
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
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/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THIS IS BCC'S FIRST YEAR OF OPERATION SERVING GRADES 9 & 10.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO COMMITTEES WERE ESTABLISHED AT THE TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPLETED BY THE BELIEVE EXECUTIVE AND DEAN OF OPERATIONS. THEN SENT TO REVIEW BY THE FINANCE COMMITTEE AND BOARD CHAIR FOR FINAL REVIEW AND SIGN-OFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BELIEVE SCHOOLS DISTRIBUTES AN ANNUAL CONFLICT OF INTEREST FORM. OUR AUTHORIZER REQUIRES SO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WE REQUEST THE LAST RATE OF PAY. WE COMPARE THAT RATE OF PAY TO LOCAL COMPS IN THE AREA. WE THEN MAKE A FAIR OFFER. THIS PROCESS IS DONE WITH NO LESS THAN THREE LEADERS IN THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THESE DOCUMENTS WILL BE STORED ON OUR ON-LINE PORTAL THROUGH BOARD ON TRACK WHICH INTEGRATES WITH OUR WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, 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 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0772457
IRS990/TotalAssetsEOYAmt0686223
IRS990/TotalAssetsGrp/BOYAmt0772457
IRS990/TotalAssetsGrp/EOYAmt0686223
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01736710
IRS990/TotalEmployeeCnt013
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0370659
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01334082
IRS990/TotalFunctionalExpensesGrp/TotalAmt01704741
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0296454
IRS990/TotalLiabilitiesEOYAmt0152893
IRS990/TotalLiabilitiesGrp/BOYAmt0296454
IRS990/TotalLiabilitiesGrp/EOYAmt0152893
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0476003
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0533330
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01334082
IRS990/TotalReportableCompFromOrgAmt0146327
IRS990/TotalRevenueGrp/ExclusionAmt0348
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt025010
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01762068
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0772457
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0686223
IRS990/TotReportableCompRltdOrgAmt00

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