2024-06-17T12:45:19+00:00 2023-07-31 440160260 Forvis Mazars LLP 201 N Illinois Street Suite 700 Indianapolis IN 46204 990 2022-08-01 352050595 The Oaks Academy Inc OAKS 3179313043 2301 N Park Ave Indianapolis IN 46205 Derek Johnson CFO 3179313043 2024-06-17 true Derek Johnson 999009999 true Nicole Fishback P01279475 3173834000 2024-06-15 2022 2023-04-26 12:10:37Z Andrew Hart 2301 N Park Ave Indianapolis IN 46205 21508334 false X WWW.THEOAKSACADEMY.ORG X 1998 IN THE OAKS ACADEMY IS A CHRIST-CENTERED SCHOOL THAT EXISTS TO PROVIDE A RICH, CLASSICAL EDUCATION TO CHILDREN OF DIVERSE RACIAL AND SOCIOECONOMIC BACKGROUNDS. 17 17 319 100 0 0 2021256 6787779 14411554 14538856 2 177761 0 16432812 21504396 2346280 1786545 0 10097958 10380677 0 665249 4095366 4489377 16539604 16656599 -106792 4847797 6235160 11021673 2793406 3402982 3441754 7618691 THE OAKS ACADEMY OFFERS AN ISACS (INDEPENDENT SCHOOLS ASSOCIATION OF THE CENTRAL STATES) ACCREDITED LIBERAL ARTS EDUCATION FOR STUDENTS FROM PRE-KINDERGARTEN THROUGH EIGHTH GRADE. THE MISSION OF THE OAKS IS TO BE A CHRIST-CENTERED SCHOOL THAT PROVIDES A RICH, CLASSICAL EDUCATION TO CHILDREN OF DIVERSE RACIAL AND SOCIOECONOMIC BACKGROUNDS, PREPARING THEM TO SUCCEED IN A RIGOROUS SECONDARY EDUCATIONAL PROGRAM AND TO DEMONSTRATE SPIRITUAL, SOCIAL AND EMOTIONAL MATURITY. false false 13888008 1786545 14538856 INSTRUCTION FOR GRADES PRE-K THROUGH GRADE 8 (EDUCATING APPROXIMATELY 1048 STUDENTS). 13888008 true true false false false false false false true true false false false true false false true true false false false false false false false false true true true false false false false false false false false false false false false false true true true false false true 18 0 true 319 true false false false false false false false false false false false false false false X 17 17 false false false false false false false true true false false true true true true true true true true false IN X Derek Johnson 3179313043 1301 E 16th St Indianapolis IN 46202 JOE MEYER VICE CHAIR 2.0 2.0 X X 0 0 0 JOSHUA ABEL SECRETARY 2.0 2.0 X X 0 0 0 SHANNON WILLIAMS CHAIR 2.0 2.0 X X 0 0 0 TERRY LYONS TREASURER 2.0 2.0 X X 0 0 0 ALICIA SAUNDERS BOARD MEMBER 2.0 0.0 X 0 0 0 ANGELA WHITE-RANDOLPH BOARD MEMBER 2.0 0.0 X 0 0 0 BRIAN MILLEN BOARD MEMBER 2.0 0.0 X 0 0 0 DIAMOND MCDONALD BOARD MEMBER 2.0 0.0 X 0 0 0 ERIC WELP BOARD MEMBER 2.0 0.0 X 0 0 0 JIM STANLEY BOARD MEMBER 2.0 0.0 X 0 0 0 JOHN BURT BOARD MEMBER 2.0 0.0 X 0 0 0 KARA HAWKINS BOARD MEMBER 2.0 0.0 X 0 0 0 KELLY HUBLER BOARD MEMBER 2.0 0.0 X 0 0 0 SCOTT KIESEL BOARD MEMBER 2.0 0.0 X 0 0 0 SHONDRIA SEATON BOARD MEMBER 2.0 0.0 X 0 0 0 STEVE O'NEIL BOARD MEMBER 2.0 0.0 X 0 0 0 TAYLOR BROWN BOARD MEMBER 2.0 0.0 X 0 0 0 ANDREW HART CEO 40.0 2.0 X 238364 0 9261 BRUCE CRAWFORD HEAD OF SCHOOL - FALL CREEK 40.0 0.0 X 115450 0 3464 DEREK JOHNSON CFO 40.0 2.0 X 122510 0 5111 KELLY ALTMAN HEAD OF SCHOOL - BROOKSIDE 40.0 0.0 X 156833 0 792 LAURA GRAMMER HEAD OF SCHOOL - MIDDLE SCHOOL 40.0 0.0 X 134213 0 272 NATHAN HAND DIRECTOR OF ADVANCEMENT 40.0 0.0 X 137275 0 25394 904645 0 44294 6 false true false 0 6787779 3938 6787779 TUITION AND FEES 611600 13775051 13775051 STUDENT ACTIVITY FEES 611710 333953 333953 AUXILIARY SERVICES 611710 399829 399829 OTHER REVENUE 900099 30023 30023 0 0 0 0 14538856 177761 177761 0 0 3938 3938 0 0 0 0 0 0 0 21504396 14538856 0 177761 560538 560538 1226007 1226007 948939 791210 119829 37900 7900784 6240704 1244806 415274 124124 83344 30614 10166 728641 625261 77608 25772 678189 537578 105557 35054 294458 294458 0 0 0 0 155121 56339 98782 218055 198539 14651 4865 70229 64733 5496 1648750 1600871 29219 18660 8022 542 3547 3933 129522 118800 8748 1974 1073 1073 159905 155479 2641 1785 103040 103040 ACADEMICS & EXTRACURRICULAR 786589 779606 5242 1741 EDUCATIONAL MATERIALS 459089 459089 MEAL & UNIFORM EXPENSES 276946 273099 3847 BAD DEBTS 171574 171574 7004 1034 5970 0 16656599 13888008 2103342 665249 447 447 4701317 6278220 150376 3307625 870563 706393 0 0 0 0 214943 444749 1882884 1665463 297514 217421 0 0 66818 0 0 6235160 11021673 1007111 1672533 1719628 1663631 0 0 66667 0 0 66818 2793406 3402982 2745995 2260538 695759 5358153 3441754 7618691 6235160 11021673 4847797 5780 -676640 0 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 173927 133750 6045 313722 175985 -2058 173927 139385 36600 175985 137306 2079 139385 1589 128575 7142 137306 0.49 0.51 0.0 false false 1882884 1665463 217421 217421 Lease Liability 66818 66818 20316257 5780 32088 0 37868 20278389 1226007 1226007 21504396 15462680 32088 0 32088 15430592 1226007 1226007 16656599 Schedule D, Part X ASC 740 DISCLOSURE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part V, Line 4 Intended uses of endowment funds INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS: THE OAKS ACADEMY, INC. HOLDS AN INVESTMENT IN PERPETUITY, THE INCOME OF WHICH IS EXPENDABLE TO SUPPORT SCHOLARSHIPS. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Scholarships and Grants-in-Aid - 1226007 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Scholarships and Grants-in-Aid - 1226007 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY PUBLICATION OF NONDISCRTIMINATORY POLICY: THE ORGANIZATION PUBLISHES ITS NONDISCRIMINATION POLICY THROUGH THE WEBSITE, MISSION STATEMENT AND THE WHOLE APPLICATION PROCESS. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY: THE ORGANIZATION RECEIVES ASSISTANCE FOR FREE AND REDUCED LUNCH PROGRAM, TITLE I FUNDED EDUCATIONAL SUPPORT, AND CHOICE SUPPORT VOUCHER PROGRAM. true THE OAKS COMMUNITY CENTER 2301 N Park Ave Indianapolis IN 46205 261529969 501 (C) (3) 560537 FMV PROGRAM SUPPORT 1 0 FINANCIAL ASSISTANCE FOR TUITION 836 1226007 FMV Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE U.S.: THE BOARD CONDUCTS REGULAR QUARTERLY REVIEWS OF FINANCIAL REPORTS TO ENSURE APPROPRIATE USE OF GRANT FUNDS. X X X X false false false false false false false false false ANDREW HART CEO 238364 0 0 0 0 0 7319 0 1942 0 247625 0 0 0 KELLY ALTMAN HEAD OF SCHOOL - BROOKSIDE 156833 0 0 0 0 0 375 0 417 0 157625 0 0 0 NATHAN HAND DIRECTOR OF ADVANCEMENT 137275 0 0 0 0 0 4118 0 21276 0 162669 0 0 0 Form 990, Part VI, Line 11b Review of form 990 by governing body PROCESS TO REVIEW THE FORM 990: A COPY OF THE 990 IS PROVIDED TO THE FULL BOARD OF DIRECTORS PRIOR TO FILING. THE FINANCE COMMITTEE OF THE BOARD WILL PERFORM A DETAILED REVIEW AND REPORT THEIR OPINION TO THE FULL BOARD AT THE NEXT BOARD MEETING. THE FORM 990 IS ALSO REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM. Form 990, Part VI, Line 12c Conflict of interest policy PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY: THE CONFLICT OF INTEREST QUESTIONNAIRE IS PROVIDED ANNUALLY AT THE BOARD RETREAT. THE HEAD OF SCHOOL AND BOARD CHAIR REVIEW THE RESPONSES AND DETERMINE THE APPROPRIATE ACTION. ANY BOARD MEMBER WITH A CONFLICT OF INTEREST DOES NOT PARTICIPATE IN DECISION-MAKING OR VOTE ON THE RELATED TOPICS. Form 990, Part VI, Line 15a Process to establish compensation of top management official REVIEW OF TOP MANAGEMENT AND OTHER OFFICER OR KEY EMPLOYEES COMPENSATION: USING COMPARABLE DATA FROM THE INDEPENDENT SCHOOLS ASSOCIATION OF THE CENTRAL STATES, THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE CEO'S COMPENSATION. THE LAST REVIEW WAS CONDUCTED IN MAY 2023. THE BUDGET, EXECUTIVE, AND FINANCE COMMITTEES REVIEW AND APPROVE OFFICER COMPENSATION. THE LAST REVIEW WAS CONDUCTED IN JULY 2023. THE CEO, CFO, AND FINANCE COMMITTEE ALSO EVALUATED COMPENSATION FOR KEY EMPLOYEES AND OTHER OFFICERS IN 2023. DISCUSSION OF COMPENSATION IS NOTED IN THE BOARD'S MINUTES. THE CEO, CFO, AND FINANCE COMMITTEE ALSO EVALUATED COMPENSATION FOR KEY EMPLOYEES AND OTHER OFFICERS IN 2023. Form 990, Part VI, Line 15b Process to establish compensation of other employees REVIEW OF TOP MANAGEMENT AND OTHER OFFICER OR KEY EMPLOYEES COMPENSATION: THE COMPENSATION REVIEW PROCESS WAS USED FOR THE POSITIONS OF CEO, CFO, HEADS OF SCHOOL AND DIRECTOR OF ADVANCEMENT. Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS: THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO ALL THOSE WHO AWARD THE ACADEMY A GRANT. AN ANNUAL REPORT IS COMPILED AND SENT OUT TO DONORS EACH FISCAL YEAR. GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. SCHOLARSHIP GRANTING ORGANIZATIONS CONTRIBUTIONS AND GRANTS: DURING THE YEAR, THE OAKS ACADEMY RECEIVED $6,067,390 FROM VARIOUS SCHOLARSHIP GRANTING ORGANIZATIONS. THE USE OF THESE FUNDS IS RESTRICTED TO STUDENT SCHOLARSHIPS AND PER FEDERAL LAW IS NOT RECOGNIZED AS CONTRIBUTION REVENUE THUS NOT REPORTED ON THE FORM 990. INDIVIDUALS CONTRIBUTING TO THE ORGANIZATION THROUGH THESE VEHICLES RECEIVE SPECIFIC TAX BENEFITS IN THE STATE OF INDIANA. THE OAKS COMMUNITY CENTER 2301 N PARK AVE INDIANAPOLIS IN 46205 261529969 RENT FACILITY IN 501(c)(3) 10 OAKS ACADEMY true false true false false false false false false false false true false false true true true true false false