INDIANAPOLIS ACADEMY OF EXCELLENCE INC

EIN: 453556833 501(c)(3)

INDIANAPOLIS, IN

Total Revenue
$1,608,733
Total Expenses
$2,351,103
Total Assets
$134,103
Net Assets
$-823,098
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
IN
Principal Officer
BILL HARRIS
Phone
3176534009
Tax Period
2018-07-01 to 2019-06-30

INDIANAPOLIS ACADEMY OF EXCELLENCE INC, founded in 2011, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2018. Expenses of $2.4M exceeded revenue, resulting in a 46% operating deficit.

Mission

THE ACADEMY'S MISSION IS TO DEVELOP STUDENTS INTO CITIZENS WHO WILL BECOME THE NEXT GENERATION OF ENTREPRENEURS. WE PROVIDE A CARING AND CREATIVE ENVIRONMENT GROUNDED IN THE BELIEF OF PROMOTING THE TOTAL DEVELOPMENT OF EACH CHILD: MORAL, INTELLECTUAL, EMOTIONAL, SOCIAL, AND PHYSICAL ENABLING OUR STUDENTS TO DEVELOP STRONG CHARACTER AND BUILD STRONG COMMUNITY-BASED VALUES.

Program Service Accomplishments

Program 1
Expenses: $2,010,487 Revenue: $2,063

INDIANAPOLIS ACADEMY OF EXCELLENCE IS A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL INSTRUCTION TO STUDENTS IN GRADES KINDERGARTEN TO SIXTH GRADE. INDIANAPOLIS ACADEMY OF EXCELLENCE OPENED ITS DOORS...

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INDIANAPOLIS ACADEMY OF EXCELLENCE IS A PUBLIC CHARTER SCHOOL PROVIDING EDUCATIONAL INSTRUCTION TO STUDENTS IN GRADES KINDERGARTEN TO SIXTH GRADE. INDIANAPOLIS ACADEMY OF EXCELLENCE OPENED ITS DOORS IN JULY 2014 AND EDUCATED APPROXIMATELY 136 STUDENTS DURING THE 2018-2019 ACADEMIC YEAR.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $1,633,864
Program Service Revenue $2,063
Investment Income $-47,762
Other Revenue $20,568
TOTAL REVENUE $1,608,733

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,054,368
Fundraising Expenses $0
Program Expenses $2,010,487
Other Expenses $1,296,735
TOTAL EXPENSES $2,351,103

Year-over-Year Comparison

2018 2017 Change
Revenue $1,608,733 $1,492,934 +0.1%
Expenses $2,351,103 $1,440,512 +0.6%
Net Income $-742,370 $52,422 -15.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
32
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$93,308
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHARLES GARCIA VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
BILL HARRIS PRESIDENT 1.00
Officer Director
$0 $0 $0
KEYON WHITESIDE DIRECTOR 1.00
Director
$0 $0 $0
ANDREW BLOCH DIRECTOR 1.00
Director
$0 $0 $0
LATOYA PITTS DIRECTOR 1.00
Director
$0 $0 $0
MARK BEEBE DIRECTOR 1.00
Director
$0 $0 $0
AUSTIN SMITH DIRECTOR 1.00
Director
$0 $0 $0
TARA GUSTIN SCHOOL DIRECTOR 40.00
Officer
$86,963 $6,345 $93,308
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2019 $1,608,733 $2,351,103 $134,103 $-742,370
2018 $1,492,934 $1,440,512 $321,613 $52,422
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