Civic Intelligence

The Path School Inc

990 • Fiscal year 2023 • EIN 83-3099267

Jul 01, 2022 to Jun 30, 2023 • Filed on May 10, 2024

653 N Somerset AvenueIndianapolis, IN 46222

(317) 226-4267

Siviq Scores

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

Liabilities / Assets

40th percentile

0.07x

Higher debt load relative to assets than 40% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

19th percentile

0.03x

Higher debt load relative to revenue than 19% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

71st percentile

16%

Higher net margin than 71% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

60th percentile

$148,849

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

92nd percentile

64%

Faster asset growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

65th percentile

16%

Faster revenue growth than 65% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Assets

Up

$3,763,826

Up $1,469,427 (+64%) from 2022

Net Assets

Up

$3,500,117

Up $1,493,640 (+74%) from 2022

Liabilities

Down

$263,709

Down $24,213 (-8.4%) from 2022

Revenue

Up

$9,512,362

Up $1,308,529 (+16%) from 2022

Expenses

Up

$8,018,722

Up $1,507,373 (+23%) from 2022

Net Income

Down

$1,493,640

Down $198,844 (-12%) from 2022

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$0Assets 2021: $922,726Liabilities 2021: $608,733Net Assets 2021: $313,9932021Assets 2022: $2,294,399Liabilities 2022: $287,922Net Assets 2022: $2,006,4772022Assets 2023: $3,763,826Liabilities 2023: $263,709Net Assets 2023: $3,500,1172023Assets 2024: $5,742,747Liabilities 2024: $844,979Net Assets 2024: $4,897,7682024Assets 2025: $5,997,581Liabilities 2025: $306,526Net Assets 2025: $5,691,0552025

Highlighted filing

2023

Assets$3,763,826
Liabilities$263,709
Net Assets$3,500,117

Operations Trend

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

$15M$10M$5.0M$0Revenue 2021: $5,298,474Expenses 2021: $5,272,452Net Income 2021: $26,0222021Revenue 2022: $8,203,833Expenses 2022: $6,511,349Net Income 2022: $1,692,4842022Revenue 2023: $9,512,362Expenses 2023: $8,018,722Net Income 2023: $1,493,6402023Revenue 2024: $10,439,893Expenses 2024: $9,042,242Net Income 2024: $1,397,6512024Revenue 2025: $11,693,401Expenses 2025: $10,900,114Net Income 2025: $793,2872025

Highlighted filing

2023

Revenue$9,512,362
Expenses$8,018,722
Net Income$1,493,640
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 10, 2024
Return Version
2022v5.0
Gross Receipts
$9,512,362
Mission and Program Overview

Mission

To provide a purpose-driven, culturally responsive learning environment that challenges scholars academically while supporting their social and emotional growth in order to develop conscientious citizens who transform their communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$999,728$2,478,782▲ $1,479,054
Pledges and Grants Receivable$939,206$956,566▲ $17,360
Land, Buildings, and Equipment, Net$341,715$308,921▼ $32,794
Prepaid Expenses and Deferred Charges$13,750$19,557▲ $5,807
Total Assets$2,294,399$3,763,826▲ $1,469,427
Liabilities
Accounts Payable and Accrued Expenses$287,922$263,709▼ $24,213
Total Liabilities$287,922$263,709▼ $24,213
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,006,477$3,500,117▲ $1,493,640
Total Net Assets Fund Balance$2,006,477$3,500,117▲ $1,493,640
Total Liabilities and Net Assets / Fund Balance$2,294,399$3,763,826▲ $1,469,427

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$308,921$119,248$428,169
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alicia HerveyHead of SchoolFT$144,022$4,827$148,849
Bianca BairdDirector of OperationsFT$111,438$4,827$116,265

Board Members and Trustees

NameTitle
Nicole WoodsonBoard Chair
Adam BurtnerBoard Member
Amanda AdkinsBoard Member
Melissa MayorgaBoard Member
Mistie RivasBoard Member
Todd CarpenterBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$9,493,804
Program Service Revenue
$0
Investment Income
$14,897
Other Revenue
$3,661
All Other Contributions
$295,304
Change in Net Assets
$1,493,640

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,512,362
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$2,976,625
Total Revenue per Audited Statements
$12,488,987
Total Revenue per Form 990
$9,512,362
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,898,548
Other Expenses$3,120,174
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,415,120$1,466,029-$3,881,149
Fees for Services Other$829,990$294,364-$1,124,354
Office Expenses$699,553$61,961-$761,514
Payroll Taxes$197,582$141,064-$338,646
Current Officers, Directors, Trustees, and Key Employees$177,160$107,297-$284,457
Occupancy$233,858--$233,858
Other Employee Benefits$156,483$59,886-$216,369
Pension Plan Contributions$113,506$64,421-$177,927
Information Technology$100,716--$100,716
Depreciation Depletion$84,379--$84,379
Fees for Services Accounting-$78,700-$78,700
Travel$47,922$4,602-$52,524
Insurance$40,341--$40,341
Other Expenses$21,664$4,844-$21,664
All Other Expenses$35$14,535-$14,570
Fees for Services Legal-$6,388-$6,388
Advertising-$3,409-$3,409
Total Functional Expenses$5,711,222$2,307,500$0$8,018,722

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$10,995,347
Expenses per Audited Statements$8,018,722
Total Expenses per Form 990$8,018,722
Expenses Not Reported on Form 990$2,976,625
Expenses Not Reported on Financial Statements$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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
Yes
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, Part VI, Section B, Line 11B

All copies are made available to the board before the 990 is finalized.

Form 990, Part VI, Section B, Line 15

Compensation is based on evaluations and competitive increases.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
The Path School Inc
EIN
83-3099267
Phone
3172264267
Address
653 N SOMERSET AVENUE, INDIANAPOLIS, IN 46222

Signing Officer

Name
Alicia Hervey
Title
Chief Operating Officer
Phone
3172264267
Signed
2024-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Theo Brannum
Formed
2018
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
60
Volunteers
7

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 IX, Line 11G

Instructional services: program service expenses 829,990. Management and general expenses 0. Fundraising expenses 0. Total expenses 829,990. Payroll services: program service expenses 0. Management and general expenses 67,014. Fundraising expenses 0. Total expenses 67,014. Community relations: program service expenses 0. Management and general expenses 25,648. Fundraising expenses 0. Total expenses 25,648. Other professional fees: program service expenses 0. Management and general expenses 201,702. Fundraising expenses 0. Total expenses 201,702.

PART XII, LINE 2C:

The organization did not change its oversight process or its selection process during the tax year.

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 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-thannot test, no tax liability is recorded. The school examined this issue and determined there are no material contingent tax liabilities or questionable tax positions. Tax years ended after june 30, 2019 are open to audit for both federal and state purposes.

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IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01493640
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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/DonatedServicesAndUseFcltsAmt02976625
IRS990ScheduleD/DonatedServicesUseFcltsAmt02976625
IRS990ScheduleD/EquipmentGrp/BookValueAmt0308921
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0119248
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0428169
IRS990ScheduleD/ExpensesNotReportedAmt02976625
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt08018722
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt02976625
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt09512362
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 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-THANNOT TEST, NO TAX LIABILITY IS RECORDED. THE SCHOOL EXAMINED THIS ISSUE AND DETERMINED THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. TAX YEARS ENDED AFTER JUNE 30, 2019 ARE OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0308921
IRS990ScheduleD/TotalExpensesPerForm990Amt08018722
IRS990ScheduleD/TotalRevenuePerForm990Amt09512362
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012488987
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt010995347
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/ExplanationTxt0GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1AS A PUBLIC CHARTER SCHOOL, THE ORGANIZATION RECEIVES FUNDING FROM THE STATE OF INDIANA AS WELL AS GRANT PROGRAMS ENACTED BY THE FEDERAL GOVERNMENT.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL COPIES ARE MADE AVAILABLE TO THE BOARD BEFORE THE 990 IS FINALIZED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPENSATION IS BASED ON EVALUATIONS AND COMPETITIVE INCREASES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INSTRUCTIONAL SERVICES: PROGRAM SERVICE EXPENSES 829,990. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 829,990. PAYROLL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 67,014. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 67,014. COMMUNITY RELATIONS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 25,648. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 25,648. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 201,702. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 201,702.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR ITS SELECTION PROCESS DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02294399
IRS990/TotalAssetsEOYAmt03763826
IRS990/TotalAssetsGrp/BOYAmt02294399
IRS990/TotalAssetsGrp/EOYAmt03763826
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt09493804
IRS990/TotalEmployeeCnt060
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02307500
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05711222
IRS990/TotalFunctionalExpensesGrp/TotalAmt08018722
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0287922
IRS990/TotalLiabilitiesEOYAmt0263709
IRS990/TotalLiabilitiesGrp/BOYAmt0287922
IRS990/TotalLiabilitiesGrp/EOYAmt0263709
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02006477
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03500117
IRS990/TotalOtherCompensationAmt09654
IRS990/TotalOtherProgSrvcExpenseAmt05653722
IRS990/TotalProgramServiceExpensesAmt05711222
IRS990/TotalReportableCompFromOrgAmt0255460
IRS990/TotalRevenueGrp/ExclusionAmt014897
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03661
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt09512362
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02294399
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03763826
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt04602
IRS990/TravelGrp/ProgramServicesAmt047922
IRS990/TravelGrp/TotalAmt052524
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0653 N SOMERSET AVENUE
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046222
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.THEPATHSCHOOL.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ALICIA HERVEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF OPERATING OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum03172264267
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE PATH SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0PATH
ReturnHeader/Filer/EIN0833099267

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