PAYMENTS ACADEMY INC

EIN: 872449047 501(c)(3) Education

Bloomington, IN

Total Revenue
$231,546
Total Expenses
$153,453
Total Assets
$106,404
Net Assets
$106,404
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2022
Legal Domicile
IN
Principal Officer
Ronald E King
Phone
2147703550
Tax Period
2023-01-01 to 2023-12-31

PAYMENTS ACADEMY INC, founded in 2022, is a small nonprofit in the Education sector that reported $232K in total revenue in fiscal year 2023. The organization ran a surplus of $78K, a strong 34% operating margin.

Mission

The mission of The Payments Academy is to provide education and support to colleges and universities in their operations that are supported by making and receiving payments from all sources. We fulfill this role through three programs: (1) Annual Conference, (2) Webinars, and (3) our Website.

Program Service Accomplishments

Program 1
Expenses: $153,453 Revenue: $231,546

1. Annual Conference: May 7-10, 2023 - Indianapolis, Indiana. 125 personnel representing 100 colleges and universities in attendance. These practitioners shared their practices and accomplishments in...

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1. Annual Conference: May 7-10, 2023 - Indianapolis, Indiana. 125 personnel representing 100 colleges and universities in attendance. These practitioners shared their practices and accomplishments in support of their institutions' missions. Since colleges and universities can be compared to the commerce activities of a city they face enormous challenges in not only all the functions of making and receiving payments from hundreds of entities, but also in the security of those payments. In addition to university personnel, vendors in this space also give presentations on their supporting products and services.

Program 2
Expenses: $0 Revenue: $0

The Payments Academy Website: We have continued to build out the site to provide content for our college and university constituents to enable them to advance their understanding and effectiveness in...

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The Payments Academy Website: We have continued to build out the site to provide content for our college and university constituents to enable them to advance their understanding and effectiveness in their profession. We advertise the Annual Workshop, provide the capability for registration, and links for submission of program proposals.

Program 3
Expenses: $0 Revenue: $0

Webinars: We established a platform for educational webinars to begin in 2024. These webinar program will be provided by certain vendors on topics of interest to college and university employees...

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Webinars: We established a platform for educational webinars to begin in 2024. These webinar program will be provided by certain vendors on topics of interest to college and university employees. This was announced at the end of 2023, but expenses will not be incurred until 2024.

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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 $231,546
Investment Income $0
Other Revenue $0
TOTAL REVENUE $231,546

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $153,453
Other Expenses $153,453
TOTAL EXPENSES $153,453

Year-over-Year Comparison

2023 2022 Change
Revenue $231,546 N/A N/A
Expenses $153,453 N/A N/A
Net Income $78,093 $0 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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Governance

Voting Members
3
Independent Members
1
Employees
N/A
Volunteers
6

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
2
$0
Total Directors
3
$0
Key Employees
2
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ronald King President 10
Officer Director Key Emp
$0 $0 $0
Ruth Harpool Secretary-Treasurer 10
Officer Director Key Emp
$0 $0 $0
Theresa Mimms Board Member 0
Director
$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
2023 $231,546 $153,453 $106,404 $78,093
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