Civic Intelligence

Olive Tree Early Learning Academy

990 • Fiscal year 2023 • EIN 92-0565554

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 10, 2024

Organization ProfileWWW.OLIVETREELEARNING.ORG
5311 Mckamey RoadKnoxville, TN 37921-4927

(865) 507-4152

Siviq Scores

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

Liabilities / Assets

85th percentile

0.55x

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

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

Liabilities / Revenue

86th percentile

0.82x

Higher debt load relative to revenue than 86% of similar nonprofits.

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

Net Margin

92nd percentile

57%

Higher net margin than 92% of similar nonprofits.

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

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $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 / Assets85th percentile

Assets

Flat

$2,971,830

Flat from 2023

Net Assets

Flat

$1,340,773

Flat from 2023

Liabilities

Flat

$1,631,057

Flat from 2023

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin92nd percentile

Revenue

Flat

$1,982,198

Flat from 2023

Expenses

Flat

$853,037

Flat from 2023

Net Income

Flat

$1,129,161

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2023: $2,971,830Liabilities 2023: $1,631,057Net Assets 2023: $1,340,7732023Assets 2023: $2,971,830Liabilities 2023: $1,631,057Net Assets 2023: $1,340,7732023Assets 2024: $3,162,934Liabilities 2024: $1,551,295Net Assets 2024: $1,611,6392024

Highlighted filing

2023

Assets$2,971,830
Liabilities$1,631,057
Net Assets$1,340,773
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$0Revenue 2023: $1,982,198Expenses 2023: $853,037Net Income 2023: $1,129,1612023Revenue 2023: $1,982,198Expenses 2023: $853,037Net Income 2023: $1,129,1612023Revenue 2024: $2,046,065Expenses 2024: $1,775,199Net Income 2024: $270,8662024

Highlighted filing

2023

Revenue$1,982,198
Expenses$853,037
Net Income$1,129,161
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 10, 2024
Return Version
2023v5.0
Gross Receipts
$1,982,198
Mission and Program Overview

Mission

Olive tree early learning academy was established in 2022 to partner families together with exceptional educators in a whole child approach to a high-quality early education that provides a creative, safe and inclusive environment where children grow to love learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$1,195,107-
Pledges and Grants Receivable-$1,079,751-
Cash and Non-Interest-Bearing Accounts$64,336$344,432▲ $280,096
Accounts Receivable$133,236$36,795▼ $96,441
Prepaid Expenses and Deferred Charges-$20,444-
Total Assets$563,023$2,971,830▲ $2,408,807
Other Assets Total$365,451$295,301▼ $70,150
Liabilities
Mortgage Notes Payable Secured by Investment Property$351,411$1,580,956▲ $1,229,545
Accounts Payable and Accrued Expenses-$37,786-
Deferred Revenue-$12,315-
Total Liabilities$351,411$1,631,057▲ $1,279,646
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$1,079,751-
Net Assets Without Donor Restrictions$211,612$261,022▲ $49,410
Total Net Assets Fund Balance$211,612$1,340,773▲ $1,129,161
Total Liabilities and Net Assets / Fund Balance$563,023$2,971,830▲ $2,408,807

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,149,762$87,183$1,236,945
Equipment$45,345$4,121$49,466
Other Assets Org$6,500--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Daniel WatsonPresident
Joshalyn HundleyDirector
Lee RobinsonDirector
Leeann FosterDirector
Amy ModenSecretary
Beth BreazealeTreasurer
Patty BowlinVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,871,854
Program Service Revenue
$92,344
Investment Income
$0
Other Revenue
$18,000
All Other Contributions
$1,364,676
Change in Net Assets
$1,129,161
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$451,617
Salaries, Compensation, and Employee Benefits$401,420
Total Fundraising Expense$19,059
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$307,004$28,880$1,676$337,560
Occupancy$87,636$4,704$4,354$96,694
Depreciation Depletion$80,348$10,956-$91,304
All Other Expenses$59,001$6,448$12,492$77,941
Other Employee Benefits$36,567$3,440$200$40,207
Payroll Taxes$21,512$2,024$117$23,653
Interest-$21,800-$21,800
Other Expenses$15,590--$15,590
Fees for Services Accounting$14,932--$14,932
Office Expenses$13,061--$13,061
Insurance$4,903$2,195$220$7,318
Advertising$6,061--$6,061
Fees for Services Other$2,109$234-$2,343
Fees for Services Legal$1,093--$1,093
Travel-$635-$635
Total Functional Expenses$752,662$81,316$19,059$853,037
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The review of the form 990 is conducted by olive tree's finance committee, including the board president, treasurer, director of operations and bookkeeper.”

Form 990, Page 6, Part VI, Line 12C

“Annually, the academy reviews the conflict of intererst policy with the board of directors. Transactions are reviewed on an ongoing basis to detect and prevent any conflicts. The finance committee also notes questionable transactions in their review of the monthly financial statements.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors obtains data from similiar organizations in the east tennessee area to determine that employee compensation amounts are reasonable.”

Form 990, Page 6, Part VI, Line 15B

“The board of directors obtains data from similar organizations in the east tennessee area to determine that employee compensation amounts are reasonable.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Olive Tree Early Learning Academy
EIN
92-0565554
Phone
8655074152
Address
5311 MCKAMEY ROAD, KNOXVILLE, TN 37921-4927

Signing Officer

Name
Daniel Watson
Title
President
Phone
8655074152
Signed
2024-07-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Watson
Formed
2022
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
21
Volunteers
50

Preparer

Firm
Mitchell Emert & Hill Pc
Address
416 ERIN DRIVE, KNOXVILLE, TN 37919-6205
Preparer
James R Cates CPA
Phone
8655222396
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Olive tree early learning academy was established in 2022 to partner families together with exceptional educators in a whole child approach to a high-quality early education that provides a creative, safe and inclusive environment where children grow to love learning.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Olive tree early learning academy believes it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.”

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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/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OLIVE TREE EARLY LEARNING ACADEMY WAS ESTABLISHED IN 2022 TO PARTNER FAMILIES TOGETHER WITH EXCEPTIONAL EDUCATORS IN A WHOLE CHILD APPROACH TO A HIGH-QUALITY EARLY EDUCATION THAT PROVIDES A CREATIVE, SAFE AND INCLUSIVE ENVIRONMENT WHERE CHILDREN GROW TO LOVE LEARNING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE REVIEW OF THE FORM 990 IS CONDUCTED BY OLIVE TREE'S FINANCE COMMITTEE, INCLUDING THE BOARD PRESIDENT, TREASURER, DIRECTOR OF OPERATIONS AND BOOKKEEPER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANNUALLY, THE ACADEMY REVIEWS THE CONFLICT OF INTERERST POLICY WITH THE BOARD OF DIRECTORS. TRANSACTIONS ARE REVIEWED ON AN ONGOING BASIS TO DETECT AND PREVENT ANY CONFLICTS. THE FINANCE COMMITTEE ALSO NOTES QUESTIONABLE TRANSACTIONS IN THEIR REVIEW OF THE MONTHLY FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS OBTAINS DATA FROM SIMILIAR ORGANIZATIONS IN THE EAST TENNESSEE AREA TO DETERMINE THAT EMPLOYEE COMPENSATION AMOUNTS ARE REASONABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS OBTAINS DATA FROM SIMILAR ORGANIZATIONS IN THE EAST TENNESSEE AREA TO DETERMINE THAT EMPLOYEE COMPENSATION AMOUNTS ARE REASONABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL WATSON
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES R CATES CPA
ReturnHeader/ReturnTs02024-07-10T14:51:20-04:00
ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxPeriodBeginDt02023-01-01
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ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,971,830
Liabilities
$1,631,057
Net assets
$1,340,773
Revenue
$1,982,198
Expenses
$853,037
Net income
$1,129,161
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.16$1.55$1.61$2.05$1.78$0.27
2023Detailed filing. Detailed filing data is available for this year.$2.97$1.63$1.34$1.98$0.85$1.13
2023Summary only. Only limited summary data is available for this year.$2.97$1.63$1.34$1.98$0.85$1.13