Oak Academies INC FY2023 filing

Tax-deductible

Roswell, GA501(c)(3)Since 2013EducationEIN 46-3674259

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To support other affiliated organizations to promote the charitable and educational activities of the supported organization. To receive, manage and distribute contributions.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
3 of 5
filings with a surplus
Average surplus $25K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Looks good: 19.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.9M
63% of total assets
Fine: liabilities are 63% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
2
of 5 voting members
Worth a look: 2 of 5 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.8M
+2% vs prior year
Spent
$2.9M
To programs
94%
Net assets
$2.3M
By yearFY2020–FY2024
Revenue
$2.8M
FY2023▲ +2%
Revenue by fiscal year
FY2020$2.6M
FY2021$2.2M
FY2022$2.8M
FY2023$2.8M
FY2024$6.3M
Expenses
$2.9M
FY2023▲ +26%
Expenses by fiscal year
FY2020$3.8M
FY2021$1.3M
FY2022$2.3M
FY2023$2.9M
FY2024$6.2M
Net assets
$2.3M
FY2023▼ -4%
Net assets by fiscal year
FY2020$1.1M
FY2021$2.0M
FY2022$2.4M
FY2023$2.3M
FY2024$2.4M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2014.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $2.8M Management & general 6% · $173K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary and Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Assistant Secretary
$0Pt VII · Sec A

Francisco Valenzuela’s $114K as Manager is at the 41st 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 · 1 named individual · Part VII

NameFY2021FY2020
Francisco Valenzuela$114,056$107,677

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 15aNo

Programs and updates

Manages and distributes donations to support charitable and educational activities.

Provided by the organization

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1 program service account for $2.8M of program spending, described in the organization's own filed words · FY2023.
01

Support activities to encourage enrollment in educational activities meanwhile managing contributions from public and private sources.

$2.8Mprogram 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 · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$200K
Grants paid · 9 grants · $5.0M · 2020–2024
Oaklawn INCWI · FY2024$1,714,292
Overbrook INCFY2024$1,517,210
The Legion of Christ North America INCFY2023$172,984
Overbrook INCRI · FY2023$50,968
The Legion of Christ North America INCFY2022$203,000
Overbrook INCRI · FY2021$200,000
Oaklawn INCWI · FY2020$551,451
Overbrook INCRI · FY2020$322,650
The Legion of Christ North America INCFY2020$245,926

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$2.8M
Ln 12
Fees for servicesLn 2g$2.3M
Gifts and grantsLn 1h$639K
Money outPt IX
$2.9M
Ln 25
Programscol B$2.8M
Managementcol C$173K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$4.8M
Total assetsLn 16$6.2M
LiabilitiesLn 26$3.9M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$639K
Fees for servicesLn 2g$2.3M
Gains on assetsLn 7$0
Total revenueLn 12$2.8M
Assets in detailPt X, end of year
CashLn 1$4.8M
SavingsLn 2$0
Cash and savings togetherLn 1–2$4.8M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$46K
Total assetsLn 16$6.2M
LiabilitiesLn 26$3.9M
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 51
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$4.3M$4.8M
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$6.0M$6.2M
LiabilitiesLn 26$3.5M$3.9M
Net assetsLn 32$2.4M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$224K$224K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$113K$113K
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$40K$40K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$11K$11K
Payroll taxesLn 10$11K$11K
Management feesLn 11a$1.6M$1.6M
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$16K$16K
Office expensesLn 13$380$380
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$55K$55K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$903K$869K$34K
All other expensesLn 24e$16K$16K
Total functional expensesLn 25$2.9M$2.8M$173K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $6.3M$6.2M$62K$2.4M 990 PDF
FY2023 Viewing $2.8M$2.9M−$108K$2.3M 990 PDF
FY2022 $2.8M$2.3M$451K$2.4M 990 PDF
FY2021 $2.2M$1.3M$888K$2.0M 990 PDF
FY2020 $2.6M$3.8M−$1.2M$1.1M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $2,837,143 across 11 lines filed
VIII-1d Related organizations$567,109
VIII-1f All other contributions, gifts and grants$71,500
VIII-1h Total contributions, gifts and grants$638,609
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,297,046$2,297,046
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax −$98,512−$98,512
VIII-12 Total revenueRelated to mission $2,297,046 · Excluded from tax −$98,512$2,837,143
Part IX · Statement of functional expenses $2,944,862 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $223,951$223,951
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipientsPrograms $112,851$112,851
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesManagement $40,163$40,163
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $11,293$11,293
IX-10 Payroll taxesManagement $11,488$11,488
IX-11a Management feesPrograms $1,555,267$1,555,267
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionManagement $15,899$15,899
IX-13 Office expensesManagement $380$380
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 TravelManagement $54,794$54,794
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $868,673 · Management $33,863$902,536
IX-24e All other expensesManagement $16,240$16,240
IX-25 Total functional expensesPrograms $2,772,035 · Management $172,827 · Fundraising $0$2,944,862
Part X · Balance sheet $6,235,660 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $4,281,882$4,825,856
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $1,639,157$1,363,560
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $46,244$46,244
X-16 Total assetsStart of year $5,967,283$6,235,660
X-17 Accounts payable and accrued expensesStart of year $3,536,722$3,912,818
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $3,536,722$3,912,818
X-32 Total net assets or fund balancesStart of year $2,430,561$2,322,842
X-33 Total liabilities and net assetsStart of year $5,967,283$6,235,660
Part XI · Reconciliation of net assets $2,322,842 net assets at year end
XI-1 Total revenue$2,837,143
XI-2 Total expenses$2,944,862
XI-3 Revenue less expenses−$107,719
XI-4 Net assets at start of year$2,430,561
XI-10 Net assets at end of year$2,322,842

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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