Civic Intelligence

Olive Tree Early Learning Academy

990 • Fiscal year 2024 • EIN 92-0565554

Jan 01, 2024 to Dec 31, 2024 • Filed on May 15, 2025

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

84th percentile

0.49x

Higher debt load relative to assets than 84% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

86th percentile

0.76x

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

65th percentile

13%

Higher net margin than 65% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

56th percentile

6.4%

Faster asset growth than 56% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

41st percentile

3.2%

Faster revenue growth than 41% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$3,162,934

Up $191,104 (+6.4%) from 2023

Net Assets

Up

$1,611,639

Up $270,866 (+20%) from 2023

Liabilities

Down

$1,551,295

Down $79,762 (-4.9%) from 2023

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin65th percentile

Revenue

Up

$2,046,065

Up $63,867 (+3.2%) from 2023

Expenses

Up

$1,775,199

Up $922,162 (+108%) from 2023

Net Income

Down

$270,866

Down $858,295 (-76%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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 2024: $3,162,934Liabilities 2024: $1,551,295Net Assets 2024: $1,611,6392024

Highlighted filing

2024

Assets$3,162,934
Liabilities$1,551,295
Net Assets$1,611,639
Open 2024 Filing

Operations Trend

Revenue Growth41st percentile

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 2024: $2,046,065Expenses 2024: $1,775,199Net Income 2024: $270,8662024

Highlighted filing

2024

Revenue$2,046,065
Expenses$1,775,199
Net Income$270,866
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 15, 2025
Return Version
2024v5.0
Gross Receipts
$2,046,065
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
Pledges and Grants Receivable$1,079,751$1,537,751▲ $458,000
Land, Buildings, and Equipment, Net$1,195,107$887,102▼ $308,005
Cash and Non-Interest-Bearing Accounts$344,432$454,729▲ $110,297
Accounts Receivable$36,795$37,195▲ $400
Prepaid Expenses and Deferred Charges$20,444$23,093▲ $2,649
Total Assets$2,971,830$3,162,934▲ $191,104
Other Assets Total$295,301$223,064▼ $72,237
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,580,956$1,510,279▼ $70,677
Accounts Payable and Accrued Expenses$37,786$34,849▼ $2,937
Deferred Revenue$12,315$6,167▼ $6,148
Total Liabilities$1,631,057$1,551,295▼ $79,762
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,079,751$1,537,751▲ $458,000
Net Assets Without Donor Restrictions$261,022$73,888▼ $187,134
Total Net Assets Fund Balance$1,340,773$1,611,639▲ $270,866
Total Liabilities and Net Assets / Fund Balance$2,971,830$3,162,934▲ $191,104

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$839,679$397,266$1,236,945
Equipment$47,423$12,739$60,162
Other Assets Org$6,500--
Compensation and Service Providers
Top Officer Pay40th 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
$1,647,093
Program Service Revenue
$373,496
Investment Income
$0
Other Revenue
$25,476
All Other Contributions
$1,147,013
Change in Net Assets
$270,866
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,059,685
Other Expenses$715,514
Total Fundraising Expense$30,043
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$876,973$75,816$10,897$963,686
Depreciation Depletion$280,458$38,244-$318,702
Occupancy$86,523$6,633$7,100$100,256
Interest-$80,657-$80,657
Payroll Taxes$58,647$5,743$825$65,215
All Other Expenses$29,716$4,471$8,943$43,130
Other Employee Benefits$17,337$11,757$1,690$30,784
Fees for Services Accounting$29,526--$29,526
Office Expenses$25,076--$25,076
Insurance$13,138$5,883$588$19,609
Other Expenses$7,150--$7,150
Advertising$2,838--$2,838
Fees for Services Other$330$37-$367
Travel-$201-$201
Total Functional Expenses$1,515,714$229,442$30,043$1,775,199
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
2025-05-15
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
36
Volunteers
103

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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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSITS (OT)
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0OLIVE 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.
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/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL WATSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-15
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES R CATES CPA
ReturnHeader/ReturnTs02025-05-15T17:14:30-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,162,934
Liabilities
$1,551,295
Net assets
$1,611,639
Revenue
$2,046,065
Expenses
$1,775,199
Net income
$270,866
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.16$1.55$1.61$2.05$1.78$0.27
2023Summary only. Only limited summary data is available for this year.$2.97$1.63$1.34$1.98$0.85$1.13
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2024 filings • 501(c)3 • $1M-$5M nonprofits