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Nonprofiteer
← PARAMOUNT SCHOOL OF EXCELLENCE INCORPORATED

Form 990 for tax year 2022

Filed by PARAMOUNT SCHOOL OF EXCELLENCE INCORPORATED.

Totals

Total revenue
$24,940,756
Total expenses
$20,704,367
Contributions and grants received
$24,726,423
Grants paid
$49,088
Program service revenue
$1,515
Investment income
$138,356
Other revenue
$74,462
Total assets, end of year
$42,235,427
Total liabilities, end of year
$21,982,247
Net assets or fund balances, end of year
$20,253,180
Program services expenses (Part IX)
$16,585,938
Management and general expenses
$4,118,429
Fundraising expenses
$0
Program service expenses (Part III)
$16,585,938

Program services were 80.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $26,435

  • 1e · Government grants (contributions)

    $20,781,698

  • 1f · All other contributions, gifts and grants

    $3,918,290

  • 1g · Noncash contributions included above

    $1,000

  • 2a · Program service revenue: STUDENT FEES

    total $1,515 · related or exempt $1,515

  • 3 · Investment income

    total $138,356 · excluded $138,356

  • 8a · Fundraising events: gross income

    $25,535

  • 8a · Fundraising events: contributions included on line 1c

    $26,435

  • 8b · Fundraising events: direct expenses

    $28,055

  • 8c · Net income from fundraising events

    total -$2,520 · excluded -$2,520

  • 11a · Other revenue: OTHER REVENUE

    total $76,982 · related or exempt $76,982

  • 11e · Other revenue, total

    $76,982

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $49,088 · program services $49,088

  • 5 · Compensation of officers, directors and key employees

    total $563,456 · program services $450,765 · management and general $112,691

  • 7 · Other salaries and wages

    total $9,790,322 · program services $7,832,258 · management and general $1,958,064

  • 8 · Pension plan contributions

    total $407,085 · program services $325,668 · management and general $81,417

  • 9 · Other employee benefits

    total $1,141,931 · program services $913,545 · management and general $228,386

  • 10 · Payroll taxes

    total $790,720 · program services $632,576 · management and general $158,144

  • 11g · Fees: other

    total $1,782,308 · program services $1,425,846 · management and general $356,462

  • 12 · Advertising and promotion

    total $405,045 · program services $324,036 · management and general $81,009

  • 13 · Office expenses

    total $701,032 · program services $588,007 · management and general $113,025

  • 14 · Information technology

    total $92,649 · program services $74,119 · management and general $18,530

  • 16 · Occupancy

    total $1,815,120 · program services $1,452,096 · management and general $363,024

  • 17 · Travel

    total $86,113 · program services $68,890 · management and general $17,223

  • 19 · Conferences, conventions and meetings

    total $50,801 · program services $40,641 · management and general $10,160

  • 20 · Interest

    total $497,811 · program services $398,249 · management and general $99,562

  • 22 · Depreciation, depletion and amortization

    total $781,500 · program services $625,200 · management and general $156,300

  • 23 · Insurance

    total $118,541 · program services $94,833 · management and general $23,708

  • 24a · Other expenses: FOOD

    total $756,618 · program services $605,294 · management and general $151,324

  • 24b · Other expenses: SMALL EQUIPMENT

    total $597,129 · program services $477,703 · management and general $119,426

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $140,712 · program services $112,570 · management and general $28,142

  • 24d · Other expenses: COURSE MATERIALS

    total $118,192 · program services $94,554 · management and general $23,638

  • 24e · All other expenses

    total $18,194 · management and general $18,194

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,874,969 · end of year $9,566,994

  • 4 · Accounts receivable

    beginning of year $1,097,547 · end of year $764,785

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,530 · end of year $88,237

  • 10a · Land, buildings and equipment: cost or other basis

    $32,391,717

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,686,453

  • 10c · Land, buildings and equipment, net

    beginning of year $23,198,540 · end of year $26,705,264

  • 15 · Other assets

    beginning of year $449,274 · end of year $5,110,147

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,407,507 · end of year $1,483,896

  • 19 · Deferred revenue

    beginning of year $1,556,228 · end of year $2,560,089

  • 23 · Secured mortgages and notes payable

    beginning of year $13,605,536 · end of year $17,750,985

  • 25 · Other liabilities

    beginning of year $38,798 · end of year $187,277

  • 27 · Net assets without donor restrictions

    beginning of year $16,016,791 · end of year $20,253,180

Mission and programs · 2022

Mission

TO INSPIRE LEARNING THROUGH AN UNPARALLELED ACADEMIC APPROACH, AND TRANSFORM COMMUNITIES BY CHANGING LIVES.

Activities or mission (Part I)

PARAMOUNT SCHOOLS OF EXCELLENCE'S FOUR 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 1,500 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.

  • 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.

    Expenses $16,585,938 · Grants $49,088 · Revenue $78,497

As filed on the 2022 return.

Listed in Part VII

  • Tom Rude

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jude Ami

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Peggy Blackard

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Brittany Eldgridge

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Aster Bekele

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Amanda Bishop

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James Hazzard

    BOARD MEMBER

    Total calculated
    $85,313
    From this org
    $85,313
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Elsa Mendez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Christopher Park

    BOARD MEMBER TERM ENDED

    Total calculated
    $0
    Hours/week
    1

  • Liam Smith

    BOARD MEMBER TERM ENDED

    Total calculated
    $0
    Hours/week
    1

  • Thomas Reddicks

    EXECUTIVE DIRECTOR

    Total calculated
    $159,754
    From this org
    $159,754
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,754
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $159,754

  • Marcus Miller

    CFO

    Total calculated
    $124,314
    From this org
    $121,658
    From related orgs
    $0
    Other
    $2,656
    Hours/week
    40

  • Tara Gustin

    COO

    Total calculated
    $134,438
    From this org
    $123,730
    From related orgs
    $0
    Other
    $10,708
    Hours/week
    40

  • Kyle Beauchamp

    CHIEF ACADEMIC OFFICER

    Total calculated
    $134,438
    From this org
    $123,730
    From related orgs
    $0
    Other
    $10,708
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421369349317022

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