Paramount School Of Excellence Incorporated
- Assets
- $17.3m
- Revenue
- $12.1m
- Investments
- $0.0
- Employees
- 196
- Location
- Indianapolis, IN
- Founding
- 07/2009
- Data as of
- 06/2020
- EIN
- 26-3890401
Organization Overview
Paramount School Of Excellence Incorporated is located in Indianapolis, IN. The organization was established in 2009. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Paramount School Of Excellence Incorporated employed 196 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paramount School Of Excellence Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Paramount School Of Excellence Incorporated generated $12.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $12.9m during the year ending 06/2020. While expenses have increased by 13.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
PARAMOUNT SCHOOLS OF EXCELLENCE'S THREE EAST SIDE CAMPUSES EXIST TO EDUCATE K-8 GRADE STUDENTS IN AN INNOVATIVE ENVIRONMENT THAT INSTILLS HIGH EXPECTATIONS FOR SUCCESS. ESTABLISHED IN 2010, PARAMOUNT ACCOMPLISHES ITS MISSION THROUGH AN EMPHASIS ON RIGOROUS ACADEMICS, TECHNOLOGY, AND THE ENVIRONMENT. AUTHORIZED BY THE MAYOR'S OFFICE OF EDUCATION INNOVATION, THE FREE PUBLIC CHARTER SCHOOLS CURRENTLY SERVE 1,250 STUDENTS, OF WHICH 79% ARE FROM HOUSEHOLDS AT OR BELOW THE POVERTY LEVEL. RISK FACTORS FOR PARAMOUNT STUDENTS INCLUDE LACK OF SOCIAL AND SCHOOL READINESS, LANGUAGE BARRIERS, UNDERPERFORMING ACADEMIC ACHIEVEMENT LEVELS, AND LOW PARENTAL INVOLVEMENT. THEREFORE, IT IS ESSENTIAL THAT THE SCHOOL CONTINUALLY FIND WAYS TO REMOVE OBSTACLES THAT HAMPER EDUCATIONAL ATTAINMENT, SO PARAMOUNT'S STUDENTS REACH THEIR FULL POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARAMOUNT'S EDUCATION FRAMEWORK AND HARDWORKING STAFF HAVE PROVEN TO BE A SUCCESSFUL COMBINATION. STATE TESTING CONSISTENTLY RANKS PARAMOUNT AMONG THE TOP CHARTER SCHOOLS IN INDIANA. RESULTS FOR THE 2019 INDIANA ILEARN ACADEMIC ASSESSMENT PLACED PARAMOUNT COMMUNITY HEIGHTS AS THE TOP-PERFORMING SCHOOL WITHIN THE IPS' BOUNDARIES, AND PARAMOUNT BROOKSIDE AS THE FOURTH HIGHEST. ADDITIONALLY, PARAMOUNT BROOKSIDE HAS DESIGNATED AN INDIANA "A" SCHOOL AND A 2018 U.S. BLUE RIBBON SCHOOL. THE EDUCATION EQUALITY INDEX RECOGNIZED PSOE FOR CLOSING THE ACHIEVEMENT GAP IRRESPECTIVELY OF A FAMILY'S INCOME. AND THE INDIANA DEPARTMENT OF EDUCATION INCLUDED PARAMOUNT AMONG THE 200 PROMISING PRACTICES FOR ACCESSIBILITY IN STEM EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Reddicks Executive Director | Officer | 40 | $165,000 |
Jessica Monk COO | 40 | $131,043 | |
James Hazzard Vice Chair | OfficerTrustee | 1 | $67,500 |
Tom Rude Board Chair | OfficerTrustee | 1 | $0 |
Brittany Eldgridge Board Treasurer | OfficerTrustee | 1 | $0 |
Peggy Blackard Board Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Keystone Group Construction | 6/29/21 | $2,154,285 |
Executive Image Janitorial Services | 6/29/21 | $368,231 |
Bookkeeping Plus Inc Bookkeeping/accounting | 6/29/21 | $149,770 |
Johnson Controls Hvac | 6/29/21 | $133,185 |
Easterseals Crossroads Therapy | 6/29/21 | $124,898 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,020,901 |
| Investment income | $9,720 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,116,236 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $226,395 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,314,750 |
| Pension plan accruals and contributions | $345,200 |
| Other employee benefits | $762,742 |
| Payroll taxes | $511,787 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,250 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,183,135 |
| Advertising and promotion | $63,132 |
| Office expenses | $305,255 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $687,964 |
| Travel | $118,302 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,453 |
| Interest | $214,352 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $507,491 |
| Insurance | $80,220 |
| All other expenses | $0 |
| Total functional expenses | $12,930,638 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,478,644 |
| Savings and temporary cash investments | $535,596 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $306,999 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,550 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,346,083 |
| Accounts payable and accrued expenses | $1,406,452 |
| Grants payable | $0 |
| Deferred revenue | $584,628 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,072,785 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,063,865 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $6,282,218 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Paramount School Of Excellence Incorporated has recieved totaling $1,032,674.
| Awarding Organization | Amount |
|---|---|
The Mind Trust Inc Indianapolis, IN PURPOSE: SEE ATTACHED | $582,500 |
Charter Fund Inc Broomfield, CO PURPOSE: CHARTER SCHOOL GROWTH | $450,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $174 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Chicago Schools Chicago, IL | $13,709,561 | $40,280,655 |
Phalen Leadership Academy-Indiana Inc Indianapolis, IN | $19,837,313 | $31,079,119 |
Carmen High School Of Science And Technology Inc Milwaukee, WI | $26,487,634 | $24,006,774 |
Kipp Indianapolis Inc Indianapolis, IN | $19,111,079 | $22,227,841 |
Frontier Schools Inc Kansas City, MO | $35,530,269 | $28,374,845 |
Intrinsic Schools Chicago, IL | $39,836,849 | $21,177,530 |
Guadalupe Educational Systems Inc Kansas City, MO | $13,472,707 | $27,548,134 |
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Ewing Marion Kauffman School Inc Kansas City, MO | $12,328,924 | $22,686,630 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Crossroads Charter Schools Kansas City, MO | $14,061,355 | $16,288,564 |
Career Academy Of South Bend Inc South Bend, IN | $28,812,268 | $15,770,291 |