Civic Intelligence

Classically Formed Foundation Inc

EIN 88-1453619 • 501(c)3 • Tulsa, OK

Profile

Support classically formed who is dedicated to forming a network of k-12 classical charter schools throughout the state of oklahoma.

PO Box 35772Tulsa, OK 74153

www.classicallyformed.org

Siviq Scores

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

Liabilities / Assets

91st percentile

0.92x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

11.12x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

56th percentile

7.2%

Higher net margin than 56% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

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

Source year 2024

Revenue Growth

Score unavailable

No value available

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

Source year 2024

Assets

Up

$20,983,962

Up $689,944 (+3.4%) from 2023

Liabilities

Down

$19,359,505

Down $185,495 (-0.9%) from 2023

Net Assets

Up

$1,624,457

Up $875,439 (+117%) from 2023

Revenue

Up

$1,740,629

Up $861,600 (+98%) from 2023

Expenses

Up

$1,614,441

Up $1,484,140 (+1139%) from 2023

Net Income

Down

$126,188

Down $622,540 (-83%) from 2023

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2023: $20,294,018Liabilities 2023: $19,545,000Net Assets 2023: $749,0182023Assets 2024: $20,983,962Liabilities 2024: $19,359,505Net Assets 2024: $1,624,4572024

Highlighted filing

2024

Assets$20,983,962
Liabilities$19,359,505
Net Assets$1,624,457

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Revenue 2023: $879,029Expenses 2023: $130,301Net Income 2023: $748,7282023Revenue 2024: $1,740,629Expenses 2024: $1,614,441Net Income 2024: $126,1882024

Highlighted filing

2024

Revenue$1,740,629
Expenses$1,614,441
Net Income$126,188

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jul 10, 2025
Return Version
2023v6.0
Gross Receipts
$1,802,004
Mission and Program Overview

Mission

The Classically Formed Foundation mission is to form schools that form the hearts and minds of students through a content rich classical education in the liberal arts and sciences with instruction in the principles of moral character and civic virtue. The foundation is engaged in acquiring, developing, building, and leasing K-12 school facilities to Classically Formed Inc. and its affiliated schools. The foundation supports Classically Formed Inc. and its affiliated schools through development and advancement.

The Classically Formed Foundation mission is to form schools that form the hearts and minds of students through a content rich classical education in the liberal arts and sciences with instruction in the principles of moral character and civic virtue.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,851,779$19,832,722▲ $16,980,943
Cash and Non-Interest-Bearing Accounts$138,093$704,330▲ $566,237
Intangible Assets$648,628$0▼ $648,628
Savings and Temporary Cash Investments$7,876,028$446,910▼ $7,429,118
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$20,294,018$20,983,962▲ $689,944
Other Assets Total$8,779,490$0▼ $8,779,490
Liabilities
Tax Exempt Bond Liabilities$19,260,000$18,916,284▼ $343,716
Accounts Payable and Accrued Expenses-$225,000-
Other Liabilities$285,000$218,221▼ $66,779
Total Liabilities$19,545,000$19,359,505▼ $185,495
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$749,018$1,548,079▲ $799,061
Net Assets With Donor Restrictions-$76,378-
Total Net Assets Fund Balance$749,018$1,624,457▲ $875,439
Total Liabilities and Net Assets / Fund Balance$20,294,018$20,983,962▲ $689,944

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$17,752,722$119,146$17,871,868
Land$2,080,000-$2,080,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Nathan PhelpsPresident
Belinda JordanDirector
Brian BeamDirector
Chris GeorgeDirector
J David VeitchDirector
Jack LeeDirector
Julie JamesSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$742,183
Program Service Revenue
$0
Investment Income
$172,449
Other Revenue
$825,997
All Other Contributions
$619,721
Change in Net Assets
$126,188

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,740,629
Revenue Not Reported on Form 990
$61,375
Total Revenue per Audited Statements
$1,802,004
Total Revenue per Form 990
$1,740,629
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,170,332
Grants and Similar Amounts Paid$402,187
Total Fundraising Expense$79,686
Professional Fundraising Fees$41,922
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$698,625$1,614$34,124$734,363
Grants to Domestic Orgs$402,187--$402,187
Occupancy$65,590$132,326$65$197,981
Depreciation Depletion$137,820--$137,820
Office Expenses$73,049$166$3,568$76,783
Fees for Services Professional Fundraising--$41,922$41,922
Travel$2,628$5,413-$8,041
Advertising$932$1,918-$2,850
Information Technology$920$1,660$6$2,586
Other Expenses$287$533$1$821
Fees for Services Other$147$303-$450
Total Functional Expenses$1,385,009$149,746$79,686$1,614,441

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,675,816
Expenses per Audited Statements$1,614,441
Total Expenses per Form 990$1,614,441
Expenses Not Reported on Form 990$61,375
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Classically Formed IncTulsa, OK--$402,187
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$61,375
Professional Fundraising Fees$41,922
Fundraising Gross Income$30,616

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dinner and Raffle$153,078$30,616$37,654$-7,038
Total Events$153,078$30,616$61,375$-30,759
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Bond 2022B$218,221

Bond Issues

BondIssuerIssuedIssue PricePurpose
ATulsa Co Indust Auth2022-09-02$19,260,000Building Construction

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$19,260,000--$194,108

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
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
No
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
Yes
Management duties delegated
No

Governance Explanations

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

No review was or will be conducted.

Form 990, Part VI, Section C, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Classically Formed Foundation Inc
EIN
88-1453619
Phone
9183466730
Address
PO Box 35772, Tulsa, OK 74153

Signing Officer

Name
Nathan Phelps
Title
President
Signed
2025-07-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nathan Phelps
Formed
2022
Legal Domicile
Ok
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Morse & Co PLLC
Address
6060 S American Plaza St E Ste 600, Tulsa, OK 74135
Preparer
Jason T Cobb
Phone
9187491040
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Fundraising Expense Netted on 990 $61375

Part XII, Line 2D: Other expenses and losses per audited F/S

Fundraising Expense Netted on 990 $61375

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IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Nathan Phelps
IRS990/PriorPeriodAdjustmentsAmt0749251
IRS990/ProfessionalFundraisingInd0true
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0482137
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0411017
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0130301
IRS990/PYOtherRevenueAmt0-14125
IRS990/PYRevenuesLessExpensesAmt0748728
IRS990/PYTotalExpensesAmt0130301
IRS990/PYTotalRevenueAmt0879029
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0126188
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0856756
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07876028
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0446910
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0601667
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0451362
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01053029
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01029205
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0411017
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01440222
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt01053029
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0851088835
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Classically Formed Inc
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0601667
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0451362
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01053029
IRS990ScheduleA/TotalSupportAmt02493251
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt017752722
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0119146
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt017871868
IRS990ScheduleD/ExpensesNotReportedAmt061375
IRS990ScheduleD/ExpensesSubtotalAmt01614441
IRS990ScheduleD/LandGrp/BookValueAmt02080000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02080000
IRS990ScheduleD/OtherExpensesIncludedAmt061375
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0218221
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Bond 2022B
IRS990ScheduleD/OtherRevenueAmt061375
IRS990ScheduleD/RevenueNotReportedAmt061375
IRS990ScheduleD/RevenueSubtotalAmt01740629
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Fundraising Expense Netted on 990 $61375
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Fundraising Expense Netted on 990 $61375
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d: Other expenses and losses per audited F/S
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019832722
IRS990ScheduleD/TotalExpensesPerForm990Amt01614441
IRS990ScheduleD/TotalLiabilityAmt0218221
IRS990ScheduleD/TotalRevenuePerForm990Amt01740629
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01802004
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01675816
IRS990ScheduleG/AgrmtProfFundraisingActyInd0true
IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0122462
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0122462
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt061375
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Dinner and Raffle
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0153078
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0153078
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt030616
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt030616
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-30759
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt037654
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt037654
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt023721
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt023721
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/LicensedStatesCd0OK

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