2023-06-13T14:41:26-05:00 2022-07-31 FORVIS LLP 201 N Illinois Street Indianapolis IN 46204 990 2021-08-01 352050595 The Oaks Academy Inc % DEREK JOHNSON OAKS 3179313043 2301 N PARK AVE INDIANAPOLIS IN 46205 DEREK JOHNSON CFO 3179313043 2023-06-15 true Derek Johnson 999009999 NICOLE B FISHBACK P01279475 3173834000 2023-06-15 2 2021 2023-04-26 12:10:37Z ANDREW HART 2301 N PARK AVE INDIANAPOLIS IN 46205 16436988 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. 18 18 319 100 0 0 4863240 2021256 12591755 14411554 1 2 0 0 17454996 16432812 1288219 2346280 0 0 9149386 10097958 0 0 628853 3066264 4095366 13503869 16539604 3951127 -106792 7476421 6235160 3925817 2793406 3550604 3441754 X 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 13818957 2346280 14411554 INSTRUCTION FOR GRADES PRE-K THROUGH GRADE 8 (EDUCATING APPROXIMATELY 1042 STUDENTS). 13818957 true true false false false false false false false true true false false false false 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 0 319 true false false false false false false false false false false false false X 18 18 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 ANDREW HART CEO 40.0 2.0 X 242981 0 7116 MICHAEL ERLER CFO (END 12/10/21) 40.0 2.0 X 128672 0 24498 KELLY ALTMAN HEAD OF SCHOOL - BROOKSIDE 40.0 0.0 X 147736 0 2792 NATHAN HAND DIRECTOR OF ADVANCEMENT 40.0 0.0 X 130627 0 2864 LAURA GRAMMER HEAD OF SCHOOL - MIDDLE SCHOOL 40.0 0.0 X 131251 0 272 BRUCE CRAWFORD HEAD OF SCHOOL - FALL CREEK 40.0 0.0 X 111948 0 2439 DEREK JOHNSON CFO (START 12/13/21) 40.0 2.0 X 81315 0 1893 JOSHUA ABEL BOARD MEMBER 2.0 2.0 X 0 0 0 ALICIA SAUNDERS BOARD MEMBER 40.0 2.0 X 0 0 0 TERRY LYONS TREASURER 2.0 2.0 X X 0 0 0 SHANNON WILLIAMS VICE CHAIR 2.0 2.0 X X 0 0 0 JOHN BURT BOARD MEMBER 2.0 0.0 X 0 0 0 DAVE MAAS BOARD MEMBER 2.0 0.0 X 0 0 0 JOE MEYER BOARD MEMBER 2.0 0.0 X 0 0 0 BRIAN MILLEN CHAIR 2.0 2.0 X X 0 0 0 STEVE O'NEIL BOARD MEMBER 2.0 0.0 X 0 0 0 SHONDRIA SEATON BOARD MEMBER 2.0 0.0 X 0 0 0 MITCH TULL BOARD MEMBER 2.0 0.0 X 0 0 0 ERIC WELP BOARD MEMBER 2.0 0.0 X 0 0 0 GREG HAHN BOARD MEMBER 2.0 0.0 X 0 0 0 KELLY HUBLER BOARD MEMBER 2.0 0.0 X 0 0 0 JIM STANLEY BOARD MEMBER 2.0 2.0 X 0 0 0 ANGELA WHITE-RANDOLPH BOARD MEMBER 2.0 0.0 X 0 0 0 SCOTT KIESEL BOARD MEMBER 2.0 0.0 X 0 0 0 KARA HAWKINS BOARD MEMBER 2.0 0.0 X 0 0 0 974530 0 41874 6 false true false 0 115000 1906256 4176 2021256 TUITION AND FEES 611600 13329467 13329467 STUDENT ACTIVITY FEES 611710 275376 275376 AUXILIARY SERVICES 611710 781850 781850 OTHER REVENUE 900099 24861 24861 14411554 2 2 0 0 0 0 0 4176 4176 0 0 0 0 0 0 0 0 0 0 0 16432812 14411554 2 777143 777143 1569137 1569137 0 0 904645 755837 114412 34396 0 7565240 5932608 1255510 377122 159390 108676 39004 11710 806958 665418 108859 32681 661725 536118 94077 31530 0 0 286794 286794 0 0 0 0 154419 48136 106283 223166 201506 16659 5001 103675 94678 8997 0 1442977 1415409 18895 8673 4800 422 1287 3091 0 85225 76761 6600 1864 7182 7182 0 172776 167994 2854 1928 87222 87222 ACADEMICS & EXTRACURRICULAR 630938 630819 71 48 EDUCATIONAL MATERIALS 400518 400518 MEAL & UNIFORM EXPENSES 418271 412742 5529 BAD DEBTS 73171 73171 4232 4232 16539604 13818957 2091794 628853 441 447 4926989 4701317 148667 150376 1829937 870563 0 0 0 0 0 0 0 0 145908 214943 1803071 1505557 424479 297514 0 0 0 0 0 0 0 0 0 0 7476421 6235160 930371 1007111 0 0 2613779 1719628 0 0 0 0 0 0 266667 66667 115000 0 0 0 3925817 2793406 X 2992440 2745995 558164 695759 3550604 3441754 7476421 6235160 -106792 -2058 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 175985 -2058 173927 139385 36600 175985 137306 2079 139385 1589 128575 7142 137306 1637 -48 1589 0.85000 0.15000 false false 1803071 1505557 297514 297514 14896715 -2058 35098 33040 14863675 1569137 1569137 16432812 15005565 35098 35098 14970467 1569137 1569137 16539604 FORM 990, SCHEDULE D, PART V, LINE 4 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. FORM 990, 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. FORM 990, SCHEDULE D, PART XI & XII, LINE 4B RECONCILIATION OF REVENUE AND EXPENSES: SCHOLARSHIPS AND GRANTS-IN-AID $1,569,137 true true true true true true true false false false false false false false false true false true FORM 990, SCHEDULE E, PART I, LINE 3 PUBLICATION OF NONDISCRIMINATORY POLICY: THE ORGANIZATION PUBLISHES ITS NON DISCRIMINATION POLICY THROUGH THE WEBSITE, MISSION STATEMENT AND THE WHOLE APPLICATION PROCESS. FORM 990, SCHEDULE E, PART I, LINE 6A 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 Avenue Indianapolis IN 46205 261529969 501(C)(3) 777143 0 PROGRAM SUPPORT 1 FINANCIAL ASSISTANCE FOR TUITION 841 1569137 0 FORM 990, SCHEDULE I, PART I, LINE 2 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 MICHAEL ERLER CFO (END 12/10/21) 128412 0 0 0 260 0 2792 0 21706 0 153170 0 ANDREW HART CEO 242721 0 0 0 260 0 5174 0 1942 0 250097 0 KELLY ALTMAN HEAD OF SCHOOL - BROOKSIDE 147476 0 0 0 260 0 2375 0 417 0 150528 0 FORM 990, PART VI, SECTION B, LINE 11B 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, SECTION B, LINE 12C 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, SECTION B, LINE 15A & 15B 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 2022. THE BUDGET, EXECUTIVE, AND FINANCE COMMITTEES REVIEW AND APPROVE OFFICER COMPENSATION. THE LAST REVIEW WAS CONDUCTED IN JULY 2022. THE CEO, CFO, AND FINANCE COMMITTEE ALSO EVALUATED COMPENSATION FOR KEY EMPLOYEES AND OTHER OFFICERS IN 2022. 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 2022. FORM 990, PART VI, SECTION C, LINE 19 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 $5,868,027 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. 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