Civic Intelligence

Geo Academies Inc

EIN 83-3708286 • 501(c)3 • Indianapolis, IN

Profile

To EMPOWER students to ACCELERATE their academic pathways to ADVANCE their social mobility and ACHIEVE their career and life-long goals.

3145 N Meridian StreetIndianapolis, IN 46208

www.geoacademies.org

Siviq Scores

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

Liabilities / Assets

98th percentile

1.81x

Higher debt load relative to assets than 98% of similar nonprofits.

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

Liabilities / Revenue

85th percentile

0.77x

Higher debt load relative to revenue than 85% of similar nonprofits.

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

Net Margin

53rd percentile

5.7%

Higher net margin than 53% 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

13th percentile

-12%

Faster asset growth than 13% of similar nonprofits.

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

Revenue Growth

75th percentile

27%

Faster revenue growth than 75% of similar nonprofits.

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

Assets

Down

$1,191,789

Down $312,637 (-21%) from 2023

Liabilities

Down

$2,705,525

Down $19,746 (-0.7%) from 2023

Net Assets

Down

-$1,513,736

Down $292,891 (-24%) from 2023

Revenue

Up

$3,873,117

Up $344,714 (+9.8%) from 2023

Expenses

Up

$4,166,008

Up $836,983 (+25%) from 2023

Net Income

Down

-$292,891

Down $492,269 (-247%) from 2023

Trend Graphs

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0MAssets 2020: $195,588Liabilities 2020: $264,215Net Assets 2020: -$68,6272020Assets 2021: $981,068Liabilities 2021: $1,625,934Net Assets 2021: -$644,8662021Assets 2022: $1,711,790Liabilities 2022: $3,132,013Net Assets 2022: -$1,420,2232022Assets 2023: $1,504,426Liabilities 2023: $2,725,271Net Assets 2023: -$1,220,8452023Assets 2024: $1,191,789Liabilities 2024: $2,705,525Net Assets 2024: -$1,513,7362024

Highlighted filing

2024

Assets$1,191,789
Liabilities$2,705,525
Net Assets-$1,513,736

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $78,658Expenses 2020: $147,285Net Income 2020: -$68,6272020Revenue 2021: $1,713,582Expenses 2021: $2,289,821Net Income 2021: -$576,2392021Revenue 2022: $2,770,116Expenses 2022: $3,545,473Net Income 2022: -$775,3572022Revenue 2023: $3,528,403Expenses 2023: $3,329,025Net Income 2023: $199,3782023Revenue 2024: $3,873,117Expenses 2024: $4,166,008Net Income 2024: -$292,8912024

Highlighted filing

2024

Revenue$3,873,117
Expenses$4,166,008
Net Income-$292,891

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 9, 2025
Return Version
2023v6.0
Gross Receipts
$3,873,028
Mission and Program Overview

Mission

Beating poverty through quality education.

To EMPOWER students to ACCELERATE their academic pathways to ADVANCE their social mobility and ACHIEVE their career and life-long goals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$240,421$229,050▼ $11,371
Cash and Non-Interest-Bearing Accounts$317,823$190,379▼ $127,444
Pledges and Grants Receivable$167,674$91,313▼ $76,361
Prepaid Expenses and Deferred Charges$9,149$25,842▲ $16,693
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Intangible Assets$0--
Loans From Officers Directors$0$0→ $0
Total Assets$1,504,426$1,191,789▼ $312,637
Other Assets Total$769,359$655,205▼ $114,154
Liabilities
Other Liabilities$1,822,001$1,709,524▼ $112,477
Unsecured Notes Loans Payable$785,595$785,595→ $0
Accounts Payable and Accrued Expenses$110,865$210,406▲ $99,541
Deferred Revenue$6,810$0▼ $6,810
Total Liabilities$2,725,271$2,705,525▼ $19,746
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,220,845$-1,513,736▼ $292,891
Total Net Assets Fund Balance$-1,220,845$-1,513,736▼ $292,891
Total Liabilities and Net Assets / Fund Balance$1,504,426$1,191,789▼ $312,637

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$66,451$281,372$347,823
Leasehold Improvements$162,599$34,387$196,986
Other Assets Org$9,200--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Alice WatkinsChair
Jimmie L McMillian JRVice Chair
JR RussellBoard Member
Jeff ReadyBoard Member
Troy Julian GibsonBoard Member (UNTIL NOV 2023)
Deon LevingstonBoard Member (UNTIL OCT 2023)
Dana L TeasleySchool Treasurer
Jesse MooreSecretary/Treasurer (UNTIL MAY 2024)
Kevin TeasleySuperintendent

Highest Paid Contractors

ContractorServicesLocationCompensation
Greater Educational Opportunities FoundationManagement Fees3145 N Meridian Street, Indianapolis, IN 46208$274,403
Revenue and Support

Revenue Composition

Contributions and Grants
$2,994,646
Program Service Revenue
$589,958
Investment Income
$-89
Other Revenue
$288,602
All Other Contributions
$125,000
Change in Net Assets
$-292,891

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,873,206
Revenue Not Reported on Financial Statements
$-89
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-89
Total Revenue per Audited Statements
$3,873,206
Total Revenue per Form 990
$3,873,117
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,647,925
Salaries, Compensation, and Employee Benefits$1,516,083
Grants and Similar Amounts Paid$2,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,238,627--$1,238,627
Fees for Services Other$442,757$0$0$442,757
Occupancy$416,322--$416,322
Office Expenses$352,910--$352,910
Fees for Services Management$12,385$316,021-$328,406
Information Technology$264,272--$264,272
Travel$246,857--$246,857
Other Employee Benefits$118,892--$118,892
Advertising$115,376--$115,376
Payroll Taxes$84,185--$84,185
Depreciation Depletion$83,751--$83,751
Pension Plan Contributions$74,379--$74,379
All Other Expenses$54,911$0$0$54,911
Fees for Services Accounting-$28,092-$28,092
Other Expenses$18,823--$18,823
Insurance$16,152--$16,152
Grants to Domestic Orgs$2,000--$2,000
Total Functional Expenses$3,821,895$344,113$0$4,166,008

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,166,097
Total Expenses per Audited Statements$4,166,097
Total Expenses per Form 990$4,166,008
Expenses Not Reported on Form 990$0
Expenses Not Reported on Financial Statements$-89
Other Expense Adjustments$-89
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$1,188,524
Right of Use Lease Liability$521,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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
Yes

Governance Explanations

Form 990, Part VI, Line 2 Family/business relationships amongst interested persons

Dana L Teasley - Family relationship, Kevin Teasley - Family relationship

Form 990, Part VI, Line 3 Delegation of management duties

The organization has a management agreement with the greater education opportunities foundation, inc. ("geo") ("95-4406881") to provide management, operation, and administrative services. The compensation of officers, kevin teasley and dana teasley, is reported on geo's respective form 990 filing.

Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body

The organization does not have any committees with authority to act on behalf of the governing body.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The Form 990 is reviewed by GEO Foundation's CFO and CEO, before being emailed to the board. After the board review, the Form 990 is submitted to the IRS.

Form 990, Part VI, Line 12C Conflict of interest policy

All board members annually complete a confidentiality conflict of interest statement. If a conflict arises, it is noted and reviewed by the board to determine if any action needs to be taken. Individuals with conflicts abstain from voting on such matters.

Form 990, Part VI, Line 19 Required documents available to the public

Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to internal revenue code (IRC) section 6104. These documents are not available to the public at this time.

Filing and Contact Details

Filer

Filer Name
GEO Academies Inc
EIN
83-3708286
Phone
3175361027
Address
3145 N Meridian Street, Indianapolis, IN 46208
Doing Business As
DBA Next Generation High School

Signing Officer

Name
Dana L Teasley
Title
Treasurer
Signed
2025-05-09
Discuss with paid preparer
Yes

Organization Details

Formed
2019
Legal Domicile
In
Voting Board Members
4
Independent Board Members
4
Employees
38
Volunteers
7

Preparer

Firm
Crowe Llp
Address
231 S Bemiston Ave Suite 800, Clayton, MO 63105
Preparer
Steve Lenivy
Phone
3148022000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

Professional Development - Total Expense: 351776, Program Service Expense: 351776, Management and General Expenses: , Fundraising Expenses: ; Other Professional Services - Total Expense: 90981, Program Service Expense: 90981, Management and General Expenses: , Fundraising Expenses: ;

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The School is exempt from income taxes on income from related activities under Section 501(c)(3) of the U. S. Internal Revenue Code and corresponding state tax law. Accordingly, no provision has been made for federal or state income taxes. Additionally, the School is not considered to be a private foundation under Section 509(a) of the Internal Revenue Code. The School has adopted applicable guidance with respect to accounting for uncertainty in income taxes. A tax position is recognized as a benefit only if it is "more likely than not" that 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 benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit will be recorded. The School does not expect the total amount of unrecorded tax benefits to significantly change in the next 12 months. The School recognizes interest and/or penalties related to income tax matters in income tax expense. The School did not have any amounts accrued for interest and penalties at June 30, 2024 and 2023.

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Realized loss on sale of assets - -89

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

Realized loss on sale of assets - -89

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IRS990/OtherExpensesGrp/Desc2Dues and Subscriptions
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IRS990/OtherRevenueMiscGrp/Desc1Security
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt09149
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt025842
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Kevin Teasley
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School is exempt from income taxes on income from related activities under Section 501(c)(3) of the U. S. Internal Revenue Code and corresponding state tax law. Accordingly, no provision has been made for federal or state income taxes. Additionally, the School is not considered to be a private foundation under Section 509(a) of the Internal Revenue Code. The School has adopted applicable guidance with respect to accounting for uncertainty in income taxes. A tax position is recognized as a benefit only if it is "more likely than not" that 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 benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit will be recorded. The School does not expect the total amount of unrecorded tax benefits to significantly change in the next 12 months. The School recognizes interest and/or penalties related to income tax matters in income tax expense. The School did not have any amounts accrued for interest and penalties at June 30, 2024 and 2023.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Realized loss on sale of assets - -89
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Realized loss on sale of assets - -89
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
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IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The racially nondiscriminatory policy is publicized on the website. It is also included in the Student Handbook and is part of the Charter.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The organization receives federal and state grant money to achieve its stated mission. STATE-BASIC GRANT STATE-CHARTER FACILITIES GRANT FEDERAL-TITLE I GRANT
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Dana L Teasley - Family relationship, Kevin Teasley - Family relationship
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS A MANAGEMENT AGREEMENT WITH THE GREATER EDUCATION OPPORTUNITIES FOUNDATION, INC. ("GEO") ("95-4406881") TO PROVIDE MANAGEMENT, OPERATION, AND ADMINISTRATIVE SERVICES. THE COMPENSATION OF OFFICERS, KEVIN TEASLEY AND DANA TEASLEY, IS REPORTED ON GEO'S RESPECTIVE FORM 990 FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization does not have any committees with authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Form 990 is reviewed by GEO Foundation's CFO and CEO, before being emailed to the board. After the board review, the Form 990 is submitted to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All board members annually complete a confidentiality conflict of interest statement. If a conflict arises, it is noted and reviewed by the board to determine if any action needs to be taken. Individuals with conflicts abstain from voting on such matters.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to internal revenue code (IRC) section 6104. These documents are not available to the public at this time.

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