Civic Intelligence

Solon Academy Inc.

990 • Fiscal year 2023 • EIN 88-0696399

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 16, 2024

Organization Profilesolonacademy.org
32800 Solon RoadSolon, OH 44139

(440) 201-3872

Siviq Scores

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

Liabilities / Assets

99th percentile

5.88x

Higher debt load relative to assets than 99% of similar nonprofits.

2023 filings • NTEE B • <$500k nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

2.00x

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

2023 filings • NTEE B • <$500k nonprofits • Source year 2023

Net Margin

5th percentile

-166%

Higher net margin than 5% of similar nonprofits.

2023 filings • NTEE B • <$500k nonprofits • Source year 2023

Top Officer Pay

86th percentile

$1,125

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2023 filings • NTEE B • <$500k 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 / Assets99th percentile

Assets

$56,701

No earlier filing loaded for comparison.

Net Assets

-$276,673

No earlier filing loaded for comparison.

Liabilities

$333,374

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin5th percentile

Revenue

$166,891

No earlier filing loaded for comparison.

Expenses

$443,564

No earlier filing loaded for comparison.

Net Income

-$276,673

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.

$1.0M$500K$0-$500KAssets 2023: $56,701Liabilities 2023: $333,374Net Assets 2023: -$276,6732023Assets 2024: $286,497Liabilities 2024: $655,036Net Assets 2024: -$368,5392024

Highlighted filing

2023

Assets$56,701
Liabilities$333,374
Net Assets-$276,673
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2023: $166,891Expenses 2023: $443,564Net Income 2023: -$276,6732023Revenue 2024: $629,108Expenses 2024: $720,974Net Income 2024: -$91,8662024

Highlighted filing

2023

Revenue$166,891
Expenses$443,564
Net Income-$276,673
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 16, 2024
Return Version
2022v5.0
Gross Receipts
$166,891
Mission and Program Overview

Mission

Our mission is to promote the academic, emotional, and physical development of our students through the promotion of teamwork, sportsmanship and athletic competition. By developing these skills, student-athletes will become confident and capable contributing members of our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$25,016-
Prepaid Expenses and Deferred Charges-$8,269-
Land, Buildings, and Equipment, Net-$5,839-
Pledges and Grants Receivable-$2,599-
Total Assets$0$56,701▲ $56,701
Other Assets Total-$14,978-
Liabilities
Accounts Payable and Accrued Expenses-$308,374-
Unsecured Notes Loans Payable-$25,000-
Total Liabilities$0$333,374▲ $333,374
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$0$-276,673▼ $276,673
Total Net Assets Fund Balance$0$-276,673▼ $276,673
Total Liabilities and Net Assets / Fund Balance$0$56,701▲ $56,701

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$5,839$1,460$0
Leasehold Improvements$0$0$0
Other Assets Org$14,978--
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleBaseTotal
Amy AllenBoard Member$1,125$1,125
Kevin CookBoard Member$1,125$1,125
Chari BosmanBoad Member$1,000$1,000
Gregory WheelerBoard Member$750$750
Revenue and Support

Revenue Composition

Contributions and Grants
$166,891
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$166,891
Change in Net Assets
$-276,673

Audited Revenue Reconciliation

Revenue per Audited Statements
$166,891
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$166,891
Total Revenue per Form 990
$166,891
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$304,645
Salaries, Compensation, and Employee Benefits$138,919
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$118,380--$118,380
Fees for Services Legal$63,000--$63,000
Occupancy$48,466--$48,466
Fees for Services Other$34,118--$34,118
Advertising$33,362--$33,362
Fees for Services Management$23,121--$23,121
Fees for Services Accounting$22,066--$22,066
Other Employee Benefits$20,539--$20,539
Other Expenses$11,156$0$0$11,156
Insurance$9,250--$9,250
All Other Expenses$6,818--$6,818
Interest$3,331--$3,331
Depreciation Depletion$1,460--$1,460
Total Functional Expenses$443,564$0$0$443,564

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$443,564
Total Expenses per Audited Statements$443,564
Total Expenses per Form 990$443,564
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$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
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, Section A, Line 3

“The school contracted with a management company, Accel Schools LLC, to provide certain administrative, instructional and financial services.”

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

“The Treasurer prepares the return and sends to the Board's legal counsel for review. Once reviewed, the Treasurer will sign and process the Form 990.”

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

“The governing board's conflict of interest policy is reviewed with new board members and the full governing board on a periodic basis. Governing board members and key personnel are expected to disclose any relationships that could potentially be perceived as a conflict of interest.”

Form 990, Part VI, Section C, Line 19

“The fiscal officer and board legal counsel maintain the governing documents, conflict of interest policy and financial statements and may be provided upon request.”

Filing and Contact Details

Filer

Filer Name
Solon Academy Inc
EIN
88-0696399
Phone
4402013872
Address
32800 Solon Road, Solon, OH 44139

Signing Officer

Name
C David Massa
Title
Treasurer
Phone
3305150572
Signed
2024-04-16

Organization Details

Principal Officer
C David Massa
Formed
2022
Legal Domicile
Oh
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Posted on the school's website.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The school contracted with a management company, Accel Schools LLC, to provide certain administrative, instructional and financial services.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Treasurer prepares the return and sends to the Board's legal counsel for review. Once reviewed, the Treasurer will sign and process the Form 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The governing board's conflict of interest policy is reviewed with new board members and the full governing board on a periodic basis. Governing board members and key personnel are expected to disclose any relationships that could potentially be perceived as a conflict of interest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The fiscal officer and board legal counsel maintain the governing documents, conflict of interest policy and financial statements and may be provided upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt00
IRS990/TotalAssetsEOYAmt056701
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt056701
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0166891
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0443564
IRS990/TotalFunctionalExpensesGrp/TotalAmt0443564
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0333374
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0333374
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-276673
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt0443564
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt04000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0166891
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt056701
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt025000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01030 N Main Street
IRS990/USAddress/CityNm0North Canton
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044720
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0https://solonacademy.org
IRS990/WhistleblowerPolicyInd01
ReasonableCauseExplanation/ExplanationTxt0The school waited for final audited financial statements prior to filing the Form 990.
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/LastSubmissionRqrOOBCd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0C David Massa
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum03305150572
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOLON ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0SOLO
ReturnHeader/Filer/EIN0880696399
ReturnHeader/Filer/PhoneNum04402013872
ReturnHeader/Filer/USAddress/AddressLine1Txt032800 Solon Road
ReturnHeader/Filer/USAddress/CityNm0Solon
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044139
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/ReturnTs02024-04-24T13:07:12-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0C David
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Massa
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
$56,701
Liabilities
$333,374
Net assets
-$276,673
Revenue
$166,891
Expenses
$443,564
Net income
-$276,673
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.86$6.55$3.69$6.29$7.21$0.92
2023Detailed filing. Detailed filing data is available for this year.$0.57$3.33$2.77$1.67$4.44$2.77