Geo Academies INC

Tax-deductible

Indianapolis, IN501(c)(3)Since 2019EducationEIN 83-3708286

To EMPOWER students to ACCELERATE their academic pathways to ADVANCE their social mobility and ACHIEVE their career and life-long goals.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 9 volunteers and 55 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
1 of 5
filings with a surplus
Average deficit $303K a year · 13% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $300K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5.0M
160% of total assets
Concern: liabilities are 160% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.1M
+83% vs prior year
Spent
$7.4M
To programs
91%
Net assets
−$1.9M
By yearFY2020–FY2024
Revenue
$7.1M
FY2024▲ +83%
Revenue by fiscal year
FY2020$79K
FY2021$1.7M
FY2022$2.8M
FY2023$3.5M
FY2024$3.9M
FY2024$7.1M
Expenses
$7.4M
FY2024▲ +79%
Expenses by fiscal year
FY2020$147K
FY2021$2.3M
FY2022$3.5M
FY2023$3.3M
FY2024$4.2M
FY2024$7.4M
Net assets
−$1.9M
FY2024▼ -23%
Net assets by fiscal year
FY2020−$69K
FY2021−$645K
FY2022−$1.4M
FY2023−$1.2M
FY2024−$1.5M
FY2024−$1.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2019.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $6.8M Management & general 9% · $690K

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

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member (beg. Feb 2025)
$0Pt VII · Sec A
Board Member (beg. Feb 2025)
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member (through Aug 2024)
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member (beg. Feb 2025)
$0Pt VII · Sec A
See Geo Academies INC executive salaries →

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowering students to accelerate academics, advance social mobility, and achieve life goals.

Provided by the organization

This section is blank until Geo Academies INC claims this page.

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1 program service account for $6.8M of program spending, described in the organization's own filed words · FY2024.
01

Developing the highest potential of students through educating the whole person, ensuring that all students attain basic skills appropriate to their age and grade level. There are a total of 423 students.

$6.8Mprogram 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 · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$300K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$7.1M
Ln 12
Gifts and grantsLn 1h$6.2M
Fees for servicesLn 2g$895K
Money outPt IX
$7.4M
Ln 25
Programscol B$6.8M
Managementcol C$690K
Owns and owesPt X
−$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$634K
Total assetsLn 16$3.1M
LiabilitiesLn 26$5.0M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6.2M
Government grantsLn 1e$6.2M
Fees for servicesLn 2g$895K
Total revenueLn 12$7.1M
Assets in detailPt X, end of year
CashLn 1$634K
Cash and savings togetherLn 1–2$634K
Land, buildings, equipmentLn 10c$594K
Other assetsLn 15$1.6M
Total assetsLn 16$3.1M
LiabilitiesLn 26$5.0M
Net assetsLn 32−$1.9M
OperationsPt I, VI
EmployeesI 555
VolunteersI 69
Fiscal year endsHeaderDecember
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$190K$634K
Land, buildings, equipmentLn 10c$229K$594K
Total assetsLn 16$1.2M$3.1M
LiabilitiesLn 26$2.7M$5.0M
Net assetsLn 32−$1.5M−$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1K$1K
Other salaries and wagesLn 7$2.5M$2.5M
Pension plan contributionsLn 8$180K$180K
Other employee benefitsLn 9$201K$201K
Payroll taxesLn 10$187K$187K
Management feesLn 11a$789K$143K$646K
Legal feesLn 11b$26K$26K
Accounting feesLn 11c$44K$44K
Other fees for servicesLn 11g$590K$590K$0$0
Advertising and promotionLn 12$138K$138K
Office expensesLn 13$467K$467K
Information technologyLn 14$69K$69K
OccupancyLn 16$658K$658K
TravelLn 17$606K$606K
Depreciation, depletion and amortizationLn 22$56K$56K
InsuranceLn 23$40K$40K
Other expenses (24a–d)Ln 24$773K$773K
All other expensesLn 24e$82K$82K$0$0
Total functional expensesLn 25$7.4M$6.8M$690K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $3.9M$4.2M−$293K−$1.5M 990 PDF
FY2023 $3.5M$3.3M$199K−$1.2M 990 PDF
FY2022 $2.8M$3.5M−$775K−$1.4M 990 PDF
FY2021 $1.7M$2.3M−$576K−$645K 990 PDF
FY2020 $79K$147K−$69K−$69K 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 $7,096,191 across 5 lines filed
VIII-1e Government grants$6,199,174
VIII-1f All other contributions, gifts and grants$1,750
VIII-1h Total contributions, gifts and grants$6,200,924
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $895,267$895,267
VIII-12 Total revenueRelated to mission $895,267 · Unrelated business $0 · Excluded from tax $0$7,096,191
Part IX · Statement of functional expenses $7,445,654 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $1,250$1,250
IX-7 Other salaries and wagesPrograms $2,539,435$2,539,435
IX-8 Pension plan contributionsPrograms $179,590$179,590
IX-9 Other employee benefitsPrograms $200,959$200,959
IX-10 Payroll taxesPrograms $186,600$186,600
IX-11a Management feesPrograms $143,070 · Management $645,784$788,854
IX-11b Legal feesPrograms $25,553$25,553
IX-11c Accounting feesManagement $44,120$44,120
IX-11g Other fees for servicesPrograms $589,645 · Management $0 · Fundraising $0$589,645
IX-12 Advertising and promotionPrograms $138,164$138,164
IX-13 Office expensesPrograms $467,454$467,454
IX-14 Information technologyPrograms $69,366$69,366
IX-16 OccupancyPrograms $657,670$657,670
IX-17 TravelPrograms $606,175$606,175
IX-22 Depreciation, depletion and amortizationPrograms $55,857$55,857
IX-23 InsurancePrograms $39,977$39,977
IX-24 Other expenses (24a–d)Programs $773,004$773,004
IX-24e All other expensesPrograms $81,981 · Management $0 · Fundraising $0$81,981
IX-25 Total functional expensesPrograms $6,755,750 · Management $689,904 · Fundraising $0$7,445,654
Part X · Balance sheet $3,093,241 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $190,379$633,972
X-3 Pledges and grants receivableStart of year $91,313$234,930
X-9 Prepaid expenses and deferred chargesStart of year $25,842$9,858
X-10c Land, buildings and equipment, netStart of year $229,050$594,053
X-15 Other assetsStart of year $655,205$1,620,428
X-16 Total assetsStart of year $1,191,789$3,093,241
X-17 Accounts payable and accrued expensesStart of year $210,406$627,101
X-19 Deferred revenueStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $785,595$2,219,216
X-25 Other liabilitiesStart of year $1,709,524$2,110,123
X-26 Total liabilitiesStart of year $2,705,525$4,956,440
X-27 Net assets without donor restrictionsStart of year −$1,513,736−$1,863,199
X-32 Total net assets or fund balancesStart of year −$1,513,736−$1,863,199
X-33 Total liabilities and net assetsStart of year $1,191,789$3,093,241
Part XI · Reconciliation of net assets −$1,863,199 net assets at year end
XI-1 Total revenue$7,096,191
XI-2 Total expenses$7,445,654
XI-3 Revenue less expenses−$349,463
XI-4 Net assets at start of year−$1,513,736
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,863,199

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

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