BRIGHT MINDS ACADEMY INC

EIN: 833668216 501(c)(3) Human Services

MICHIGAN CITY, IN

Total Revenue
$1,946,934
Total Expenses
$574,199
Total Assets
$428,500
Net Assets
$428,500
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
IN
Principal Officer
SHEMARR TURNER
Tax Period
2023-01-01 to 2023-12-31

BRIGHT MINDS ACADEMY INC, founded in 2019, is a community nonprofit in the Human Services sector that reported $1.9M in total revenue in fiscal year 2023. The organization ran a surplus of $1.4M, a strong 71% operating margin.

Mission

CHILD CARE

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,946,929
Investment Income $0
Other Revenue $5
TOTAL REVENUE $1,946,934

Expense Breakdown

Grants Paid $0
Salaries & Benefits $134,911
Fundraising Expenses $0
Program Expenses $574,199
Other Expenses $439,288
TOTAL EXPENSES $574,199

Year-over-Year Comparison

2023 2022 Change
Revenue $1,946,934 N/A N/A
Expenses $574,199 N/A N/A
Net Income $1,372,735 N/A N/A
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
1
Independent Members
1
Employees
N/A
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
1
$0
Total Directors
0
$0
Key Employees
1
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHEMARR TURNER PRESIDENT 40.00
Officer Key Emp
$0 $0 $0
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
2024 No data No data No data No data
2023 $1,946,934 $574,199 $428,500 $1,372,735
2022 $1,683,294 $1,357,778 $193,166 $325,516
2021 $457,199 $384,024 $121,064 $73,175
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