Education Explosion INC DBA Impact Charter School FY2024 filing

Tax-deductible

Baker, LA501(c)(3)Since 2009EducationEIN 21-1323630

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The mission of Impact Charter School is to provide a rigorous 21st Century educational experience for all students in a safe, supportive, and challenging learning environment.Our positive and unique school culture empowers students to achieve excellence and reach their full potential in order to close the achievement gaps, while students are growing into productive citizens.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
$363K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $147K a year · 2% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$363K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$25.2M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.5M
+3% vs prior year
Spent
$7.4M
To programs
97%
Net assets
$2.5M
By yearFY2020–FY2024
Revenue
$7.5M
FY2024▲ +3%
Revenue by fiscal year
FY2020$5.2M
FY2021$5.4M
FY2022$6.2M
FY2023$7.3M
FY2024$7.5M
FY2024$3.4M
Expenses
$7.4M
FY2024▼ -3%
Expenses by fiscal year
FY2020$4.8M
FY2021$5.1M
FY2022$6.0M
FY2023$7.6M
FY2024$7.4M
FY2024$2.9M
Net assets
$2.5M
FY2024▼ -14%
Net assets by fiscal year
FY2020$2.7M
FY2021$3.1M
FY2022$3.2M
FY2023$2.9M
FY2024$2.5M
FY2024$3.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $7.2M Management & general 3% · $199K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990; $363K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$211,750Pt VII · Sec A
Principal
$151,140Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Chakesha Scott’s $212K as CEO is at the 85th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Chakesha Scott$211,750$211,747$191,060$183,750$175,956
Eric Scott$151,140$151,940$137,140——
Eric D Scott———$130,827$120,763

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers rigorous, safe, and supportive education for all students.

Provided by the organization

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1 program service account for $7.2M of program spending, described in the organization's own filed words · FY2023.
01

Educatiional

$7.2Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$7.5M
Ln 12
Gifts and grantsLn 1h$7.5M
Money outPt IX
$7.4M
Ln 25
Programscol B$7.2M
Managementcol C$199K
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$2.6M
Total assetsLn 16$27.7M
LiabilitiesLn 26$25.2M
PeoplePt VI, VII
8
listed · VII A
PaidVII A2
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.5M
Government grantsLn 1e$7.5M
Total revenueLn 12$7.5M
Assets in detailPt X, end of year
CashLn 1$2.6M
Cash and savings togetherLn 1–2$2.6M
Land, buildings, equipmentLn 10c$24.3M
Other assetsLn 15$12K
Total assetsLn 16$27.7M
LiabilitiesLn 26$25.2M
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 572
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.4M$2.6M
Land, buildings, equipmentLn 10c$24.8M$24.3M
Total assetsLn 16$27.8M$27.7M
LiabilitiesLn 26$25.1M$25.2M
Net assetsLn 32$2.6M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$363K$308K$54K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$2.9M$2.8M$58K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$267K$263K$4K
Payroll taxesLn 10$260K$257K$4K
Management feesLn 11a$0
Legal feesLn 11b$80K$80K
Accounting feesLn 11c$130K$111K$20K
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$47K$47K
Advertising and promotionLn 12$51K$51K
Office expensesLn 13$28K$24K$4K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$319K$271K$48K
TravelLn 17$72K$64K$7K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$1.2M$1.2M
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$535K$535K
InsuranceLn 23$68K$68K
Other expenses (24a–d)Ln 24$869K$869K
All other expensesLn 24e$172K$172K
Total functional expensesLn 25$7.4M$7.2M$199K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $7.5M$7.4M$136K$2.5M 990 PDF
FY2023 $7.3M$7.6M−$300K$2.9M 990 PDF
FY2022 $6.2M$6.0M$245K$3.2M 990 PDF
FY2021 $5.4M$5.1M$287K$3.1M 990 PDF
FY2020 $5.2M$4.8M$365K$2.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $7,511,518 across 3 lines filed
VIII-1e Government grants$7,511,518
VIII-1h Total contributions, gifts and grants$7,511,518
VIII-12 Total revenue$7,511,518
Part IX · Statement of functional expenses $7,375,660 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $308,456 · Management $54,434$362,890
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $2,836,530 · Management $57,888$2,894,418
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $262,598 · Management $3,917$266,515
IX-10 Payroll taxesPrograms $256,606 · Management $3,613$260,219
IX-11a Management fees$0
IX-11b Legal feesPrograms $80,200$80,200
IX-11c Accounting feesPrograms $110,910 · Management $19,572$130,482
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $47,351$47,351
IX-12 Advertising and promotionPrograms $51,358$51,358
IX-13 Office expensesPrograms $23,630 · Management $4,170$27,800
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $271,263 · Management $47,870$319,133
IX-17 TravelPrograms $64,486 · Management $7,165$71,651
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $1,219,223$1,219,223
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $535,236$535,236
IX-23 InsurancePrograms $68,163$68,163
IX-24 Other expenses (24a–d)Programs $868,589$868,589
IX-24e All other expensesPrograms $172,432$172,432
IX-25 Total functional expensesPrograms $7,177,031 · Management $198,629 · Fundraising $0$7,375,660
Part X · Balance sheet $27,733,673 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $2,371,720$2,642,266
X-4 Accounts receivableStart of year $610,811$820,253
X-10c Land, buildings and equipment, netStart of year $24,794,191$24,258,813
X-15 Other assetsStart of year $12,045$12,341
X-16 Total assetsStart of year $27,788,767$27,733,673
X-17 Accounts payable and accrued expensesStart of year $103,808$78,318
X-25 Other liabilitiesStart of year $25,044,533$25,151,089
X-26 Total liabilitiesStart of year $25,148,341$25,229,407
X-27 Net assets without donor restrictionsStart of year $2,640,426$2,429,612
X-28 Net assets with donor restrictions$74,654
X-32 Total net assets or fund balancesStart of year $2,640,426$2,504,266
X-33 Total liabilities and net assetsStart of year $27,788,767$27,733,673
Part XI · Reconciliation of net assets $2,504,266 net assets at year end
XI-1 Total revenue$7,511,518
XI-2 Total expenses$7,375,660
XI-3 Revenue less expenses$135,858
XI-4 Net assets at start of year$2,640,426
XI-7 Investment expenses−$37,297
XI-8 Prior period adjustments−$234,721
XI-10 Net assets at end of year$2,504,266

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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