Oaks Academy Inc
- Assets
- $7.5m
- Revenue
- $17.5m
- Investments
- $0.0
- Employees
- 244
- Location
- Indianapolis, IN
- Founding
- 04/1999
- Data as of
- 07/2021
- EIN
- 35-2050595
Organization Overview
Oaks Academy Inc is located in Indianapolis, IN. The organization was established in 1999. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 07/2021, Oaks Academy Inc employed 244 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oaks Academy Inc 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 07/2021, Oaks Academy Inc generated $17.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $13.5m during the year ending 07/2021. While expenses have increased by 6.6% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE OAKS ACADEMY IS A CHRIST-CENTERED SCHOOL THAT EXISTS TO PROVIDE A RICH, CLASSICAL EDUCATION TO CHILDREN OF DIVERSE RACIAL AND SOCIOECONOMIC BACKGROUNDS.
Describe the Organization's Program Activity:
INSTRUCTION FOR GRADES PRE-K THROUGH GRADE 8 (EDUCATING APPROXIMATELY 1045 STUDENTS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Hart CEO | Officer | 40 | $242,981 |
Kelly Altman Head Of School - Brookside | Officer | 40 | $147,736 |
Laura Grammer Head Of School - Middle School | Officer | 40 | $131,251 |
Nathan Hand Director Of Advancement | Officer | 40 | $130,627 |
Michael Erler CFO | Officer | 40 | $128,672 |
Bruce Crawford Head Of School - Fall Creek | Officer | 40 | $111,948 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,314,635 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,548,605 |
| Noncash contributions included in lines 1a–1f | $63,672 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,863,240 |
| Total Program Service Revenue | $12,591,755 |
| Investment income | $1 |
| 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 | $17,454,996 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $42,740 |
| Grants and other assistance to domestic individuals. | $1,245,479 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $933,197 |
| Compensation of current officers, directors, key employees. | $110,998 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,925,844 |
| Pension plan accruals and contributions | $35,498 |
| Other employee benefits | $707,362 |
| Payroll taxes | $547,485 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $139,051 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $103,375 |
| Office expenses | $252,822 |
| Information technology | $102,530 |
| Royalties | $0 |
| Occupancy | $930,869 |
| Travel | $1,169 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $142,571 |
| Interest | $34,464 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $178,174 |
| Insurance | $101,617 |
| All other expenses | $3,851 |
| Total functional expenses | $13,503,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $441 |
| Savings and temporary cash investments | $4,926,989 |
| Pledges and grants receivable | $148,667 |
| Accounts receivable, net | $1,829,937 |
| 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 | $145,908 |
| Net Land, buildings, and equipment | $424,479 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,476,421 |
| Accounts payable and accrued expenses | $930,371 |
| Grants payable | $0 |
| Deferred revenue | $2,613,779 |
| 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 | $266,667 |
| Unsecured mortgages and notes payable | $115,000 |
| Other liabilities | $0 |
| Total liabilities | $3,925,817 |
| Net assets without donor restrictions | $2,992,440 |
| Net assets with donor restrictions | $558,164 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,476,421 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Oaks Academy Inc has recieved totaling $159,261.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $34,700 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $33,000 |
Early Learning Indiana Inc Indianapolis, IN PURPOSE: CHILD CARE DESERT GRANT & CBS | $18,000 |
The Douglas & Angela Braly Family Foundation Indianapolis, IN PURPOSE: EDUCATION | $15,000 |
Indianapolis Foundation Inc Indianapolis, IN PURPOSE: To Be Used at the Organization's Discretion | $12,800 |
Ackerman Foundation Indianapolis, IN PURPOSE: GENERAL OPERATIONS | $12,500 |
Endowment Analysis
| Beg. Balance | $139,385 |
| Earnings | $36,600 |
| Ending Balance | $175,985 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Distinctive Schools Of Illinois Chicago, IL | $2,734,668 | $38,553,382 |
Goodwill Education Initiatives Inc Indianapolis, IN | $18,896,307 | $35,463,634 |
Mc Preparatory School Of Wisconsin Inc Milwaukee, WI | $32,218,906 | $24,578,371 |
Catalyst Schools Chicago, IL | $23,990,346 | $24,109,090 |
Bernard Zell Anshe Emet Day School Chicago, IL | $69,026,609 | $20,320,544 |
Heritage Christian Schools Inc Indianapolis, IN | $19,759,630 | $19,173,955 |
Academy Of Basic Education Inc Brookfield, WI | $40,498,539 | $16,384,035 |
Summit Christian Academy Lees Summit, MO | $26,556,183 | $15,642,141 |
Orchard School Foundation Inc Indianapolis, IN | $60,553,415 | $15,394,463 |
Oaks Academy Inc Indianapolis, IN | $7,476,421 | $17,454,996 |
Near North Montessori School Chicago, IL | $38,573,944 | $16,517,378 |
Madison Country Day School Inc Waunakee, WI | $14,581,268 | $10,698,482 |