Civic Intelligence

Classical Education Network Inc.

990 • Fiscal year 2023 • EIN 87-3871530

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

Organization ProfileWWW.OPTIMAACADEMY.ONLINE
3369 Pine Ridge Blvd 204Naples, FL 34109

(239) 202-0403

Siviq Scores

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

Liabilities / Assets

94th percentile

1.03x

Higher debt load relative to assets than 94% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

4.36x

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

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Net Margin

20th percentile

-13%

Higher net margin than 20% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

$4,773,009

No earlier filing loaded for comparison.

Net Assets

-$146,784

No earlier filing loaded for comparison.

Liabilities

$4,919,793

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin20th percentile

Revenue

$1,129,327

No earlier filing loaded for comparison.

Expenses

$1,276,111

No earlier filing loaded for comparison.

Net Income

-$146,784

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$40M$30M$20M$10M$0-$10MAssets 2023: $4,773,009Liabilities 2023: $4,919,793Net Assets 2023: -$146,7842023Assets 2024: $34,451,668Liabilities 2024: $34,821,052Net Assets 2024: -$369,3842024

Highlighted filing

2023

Assets$4,773,009
Liabilities$4,919,793
Net Assets-$146,784
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2023: $1,129,327Expenses 2023: $1,276,111Net Income 2023: -$146,7842023Revenue 2024: $2,497,433Expenses 2024: $2,720,033Net Income 2024: -$222,6002024

Highlighted filing

2023

Revenue$1,129,327
Expenses$1,276,111
Net Income-$146,784
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$1,129,327
Mission and Program Overview

Mission

To train the minds and improve the hearts of young people through a content-rich classical education in the liberal arts and sciences, with instruction in the principles of moral character and civic virtue.

To provide an excellent, virtue-centered education using a classical curriculum, great books, and innovative content delivery in the context of a sincere and inspiring community of scholars.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$4,064,962▲ $4,064,962
Other Notes and Loans Receivable, Net-$391,500-
Cash and Non-Interest-Bearing Accounts-$44,062-
Prepaid Expenses and Deferred Charges-$19,010-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$-146,784▼ $146,784
Total Assets$0$4,773,009▲ $4,773,009
Other Assets Total$0$253,475▲ $253,475
Liabilities
Mortgage Notes Payable Secured by Investment Property-$4,500,000-
Unsecured Notes Loans Payable-$419,793-
Total Liabilities$0$4,919,793▲ $4,919,793
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$-146,784▼ $146,784
Total Liabilities and Net Assets / Fund Balance$0$4,773,009▲ $4,773,009

Asset Categories

AssetBook ValueDepreciationBasis
Land$4,064,962-$4,064,962
Other Assets Org$253,475--
Compensation and Service Providers
Top Officer Pay38th percentile

Board Members and Trustees

NameTitle
Glenton GilzeanVice Chairman
Donalds BurgessDirector
Christopher HudsonChariman
Cary MitchellSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Optimaed LLCManagement Fee3369 PINERIDGE RD SUITE 204, Naples, FL 34109$1,032,339
Revenue and Support

Revenue Composition

Contributions and Grants
$35,100
Program Service Revenue
$1,094,227
Investment Income
$0
Other Revenue
$0
All Other Contributions
$5,100
Change in Net Assets
$-146,784

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,129,327
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,129,327
Total Revenue per Form 990
$1,129,327
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,276,111
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$1,032,339--$1,032,339
Interest$112,052--$112,052
Other Expenses$64,220--$64,220
Total Functional Expenses$1,276,111$0$0$1,276,111

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,276,111
Expenses per Audited Statements$1,096,559
Total Expenses per Audited Statements$1,096,559
Expenses Not Reported on Financial Statements$179,552
Other Expense Adjustments$179,552
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
A Classical Christmas$30,000---
Total Events$30,000---
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
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
No

Governance Explanations

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

“A copy of the 990 is provided to ceo and director of finance for review and completeness. It then is provided to the board of directors. Comments and/or questions are encouraged and resolved before final approval.”

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

“Board members are required to sign an annual attestation of receipt of the conflict of interest policy and disclosure of any conflicts.”

Form 990, Part VI, Section C, Line 19

“Governing documents are published on the board's annual meeting agenda. Financials are posted to the school's website.”

Filing and Contact Details

Filer

Filer Name
Classical Education Network Inc
EIN
87-3871530
Phone
2392020403
Address
3369 PINE RIDGE BLVD 204, NAPLES, FL 34109

Signing Officer

Name
Chris Hudson
Title
Chairman
Phone
2392405658
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Hudson
Formed
2021
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
0
Employees
0
Volunteers
4

Preparer

Firm
Ceiba Cpas and Consultants LLC
Address
28400 BONITA CROSSINGS BLVD SUITE, 100, BONITA SPRINGS, FL 34135
Preparer
Yamirka Suyi CPA
Phone
2396315305
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The school, under a dba for cen, qualifies as a tax-exempt organization under internal revenue code section 501(c)(3), and is therefore, exempt from income taxes. All of the cen related schools have the same ein. Accordingly, no tax provision has been made in the accompanying financial statements. Additionally, no uncertain tax positions have been made requiring disclosure in the related notes to the financial statements”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Debt interest 112,052. Debt fees 67,500.”

Raw XML Appendix332 raw XML fields

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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL, UNDER A DBA FOR CEN, QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), AND IS THEREFORE, EXEMPT FROM INCOME TAXES. ALL OF THE CEN RELATED SCHOOLS HAVE THE SAME EIN. ACCORDINGLY, NO TAX PROVISION HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. ADDITIONALLY, NO UNCERTAIN TAX POSITIONS HAVE BEEN MADE REQUIRING DISCLOSURE IN THE RELATED NOTES TO THE FINANCIAL STATEMENTS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DEBT INTEREST 112,052. DEBT FEES 67,500.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0A CLASSICAL CHRISTMAS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE 990 IS PROVIDED TO CEO AND DIRECTOR OF FINANCE FOR REVIEW AND COMPLETENESS. IT THEN IS PROVIDED TO THE BOARD OF DIRECTORS. COMMENTS AND/OR QUESTIONS ARE ENCOURAGED AND RESOLVED BEFORE FINAL APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ARE REQUIRED TO SIGN AN ANNUAL ATTESTATION OF RECEIPT OF THE CONFLICT OF INTEREST POLICY AND DISCLOSURE OF ANY CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE PUBLISHED ON THE BOARD'S ANNUAL MEETING AGENDA. FINANCIALS ARE POSTED TO THE SCHOOL'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04773009
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/USAddress/ZIPCd034109
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IRS990/WebsiteAddressTxt0HTTPS://WWW.OPTIMAACADEMY.ONLINE/
IRS990/WhistleblowerPolicyInd01
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRIS HUDSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02392405658
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CLASSICAL EDUCATION NETWORK INC
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0874399064
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CEIBA CPAS AND CONSULTANTS LLC
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0YAMIRKA SUYI CPA
ReturnHeader/ReturnTs02024-05-15T16:49:47-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHRIS
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ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$4,773,009
Liabilities
$4,919,793
Net assets
-$146,784
Revenue
$1,129,327
Expenses
$1,276,111
Net income
-$146,784
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$34.5$34.8$0.37$2.50$2.72$0.22
2023Detailed filing. Detailed filing data is available for this year.$4.77$4.92$0.15$1.13$1.28$0.15