2024-05-10T15:15:45-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 301 SW ADAMS STREET SUITE 1000 PEORIA IL 61602 990 2022-07-01 364729586 PHALEN LEADERSHIP ACADEMY - INDIANA PHAL 3173336980 2323 NORTH ILLINOIS STREET INDIANAPOLIS IN 46208 EARL MARTIN PHALEN CHAIRMAN 3173336980 2024-05-08 1 EARL MARTIN PHALEN 999009999 1 ANDREW SMITH CPA P01518894 3096714500 2024-05-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z EARL MARTIN PHALEN 2323 NORTH ILLINOIS STREET INDIANAPOLIS IN 46208 46371047 0 X WWW.PHALENACADEMIES.ORG X 2012 IN TO ENSURE EACH SCHOLAR ENROLLED MEETS HIGH ACADEMIC AND SOCIAL STANDARDS, AND THRIVES AS LEADERS AT HOME, IN THEIR COMMUNITIES, AND IN THE WORLD. THE ULTIMATE GOAL IS THAT EACH SCHOLAR MASTER KEY ACADEMIC SKILLS AND DEMONSTRATE STRONG CHARACTER, AS EXHIBITED BY: HONESTY, SERVICE TO OTHERS, A SUPERIOR WORK ETHIC, AND A STRONG VISION FOR AND BELIEF IN THEIR FUTURES. 5 4 451 0 0 0 24824498 33471493 14337802 11201661 63 263 407789 1697630 39570152 46371047 0 0 0 0 19945724 24750155 0 0 0 16680865 22332190 36626589 47082345 2943563 -711298 22278820 29834358 10201622 18053738 12077198 11780620 X TO ENSURE EACH SCHOLAR ENROLLED MEETS HIGH ACADEMIC AND SOCIAL STANDARDS, AND THRIVES AS LEADERS AT HOME, IN THEIR COMMUNITIES, AND IN THE WORLD. THE ULTIMATE GOAL IS THAT EACH SCHOLAR MASTER KEY ACADEMIC SKILLS AND DEMONSTRATE STRONG CHARACTER, AS EXHIBITED BY: HONESTY, SERVICE TO OTHERS, A SUPERIOR WORK ETHIC, AND A STRONG VISION FOR AND BELIEF IN THEIR FUTURES. 1 0 31289853 12899291 PHALEN LEADERSHIP ACADEMY EDUCATES FUTURE LEADERS BASED ON THE FOLLOWING PRINCIPLES: EXCEPTIONAL TEACHERS AND SCHOOL LEADERS, PARTNERSHIPS WITH PARENTS, INNOVATIVE USE OF TECHNOLOGY TO SUPPLEMENT TEACHER INSTRUCTION, DIFFERENTIATED INSTRUCTION AND ONGOING ASSESSMENT TO MEASURE PROGRESS. 31289853 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 78 0 1 451 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X EVA SPILKER 4105983087 386 HARWIN DRIVE SEVERNA PARK MD 21146 KRISTOPHER KINGERY DIRECTOR 0.80 X 0 0 0 MARLIN JACKSON DIRECTOR 0.80 X 0 0 0 EARL MARTIN PHALEN DIRECTOR/CEO 0.80 40.00 X X 0 153510 0 JIM PHALEN DIRECTOR/TREASURER 0.80 X 0 0 0 DR FERNANDO REIMERS DIRECTOR 0.80 X 0 0 0 NICOLE FAMA REGIONAL DIRECTOR 40.00 X 155354 0 2028 TORA TOWNSEND PRINCIPAL 40.00 X 120181 0 2028 275535 153510 4056 2 0 1 0 KHALIL VENTURES MANAGEMENT LLC 2487 ALOMA AVE WINTER PARK FL 32792 INSTRUCTIONAL CURRICULUM SERVICES 607500 GPS LLC PO BOX 5935 DRAWER 2177 TROY MI 48007 SPECIAL NEEDS SUPPORT FOR STUDENTS 322890 DEEM LLC 6831 E 32ND STREET SUITE 200 INDIANAPOLIS IN 46226 MECHANICAL AND ELECTRICAL SERVICES 116755 3 14624106 18847387 33471493 STUDENT EDUCATION 611600 11201661 11201661 11201661 263 263 OTHER INCOME 900099 1697630 1697630 1697630 46371047 12899291 0 263 X 293603 293603 18785918 15030495 3755423 1036672 834553 202119 3051287 2382148 669139 1582675 1247107 335568 174027 174027 2118297 1858705 259592 26912 26907 5 10611982 1353995 9257987 1008219 1005046 3173 21766 21766 229592 229592 495518 495518 432361 432361 MATERIALS AND SUPPLIES 2806367 2627392 178975 NUTRITIONAL SUPPORT 2510934 2510934 PROGRAM TRANSPORTATION 1260023 1260023 PROFESSIONAL DEVELOPMEN 298941 95504 203437 337251 267923 69328 47082345 31289853 15792492 0 3234731 1308309 2549034 5674290 5233252 10762647 14086752 4314417 10261803 9772335 1000000 2316777 22278820 29834358 3774346 4699961 6427276 6051495 0 7302282 10201622 18053738 X 12077198 11303070 477550 12077198 11780620 22278820 29834358 X -711298 414720 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 300000 300000 6835248 1916340 4918908 4429706 42827 4386879 1636752 1470204 166548 885046 885046 0 9772335 SECURITY DEPOSIT 1000000 RIGHT OF USE ASSET 1316777 2316777 RELATED PARTY PAYABLE 5969504 RIGHT OF USE LEASE LIABILITY 1332778 7302282 X 51894894 5109127 414720 5523847 46371047 0 46371047 52191472 5109127 5109127 47082345 0 47082345 PART X, LINE 2: THE PHALEN LEADERSHIP ACADEMY INDIANA, INC. HAS RECEIVED A DETERMINATION FROM THE U.S. TREASURY DEPARTMENT STATING THAT IT QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AS A TAX-EXEMPT ORGANIZATION; HOWEVER, THE SCHOOL WOULD BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS TAX-EXEMPT PURPOSE. FOR THE YEAR ENDED JUNE 30, 2023, NO ACCOUNTING FOR FEDERAL AND STATE INCOME TAXES WAS REQUIRED TO BE INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PROFESSIONAL ACCOUNTING STANDARDS REQUIRE THE SCHOOL TO RECOGNIZE A TAX LIABILITY ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX LIABILITY THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE LIKELY THAN NOT TEST, NO TAX LIABILITY IS RECORDED. THE SCHOOL HAS EXAMINED THIS ISSUE AND HAS DETERMINED THAT THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. TAX YEARS ENDING AFTER 2022 ARE OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: EXCESS OF FAIR VALUE OF NET ASSETS ACQUIRED IN ACQUISITION OF PROMISE PREP 414,720. 1 1 1 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION INCLUDES ITS RACIALLY NONDISCRIMINATORY POLICY ON REGISTRATION FLYERS AND RELATED MATERIALS. SCHEDULE E, PART I, LINE 4 THERE ARE NO TUITION COSTS FOR ATTENDING THE ACADEMY, THEREFORE FINANCIAL ASSISTANCE AND SCHOLARSHIPS ARE NOT REQUIRED. SCHEDULE E, PART I, LINE 6 FUNDING IS RECEIVED FROM THE INDIANA DEPARTMENT OF EDUCATION. 0 0 0 0 0 0 0 0 0 NICOLE FAMA REGIONAL DIRECTOR 151304 0 3250 0 800 0 0 0 2028 0 157382 0 0 0 EARL MARTIN PHALEN DIRECTOR/CEO 0 153510 0 0 0 0 0 0 0 0 0 153510 0 0 FORM 990, PART III, LINE 2 ACQUIRED A NEW SCHOOL, PROMISE PREP FORM 990, PART VI, SECTION A, LINE 2 EARL AND JIM PHALEN ARE BOTH MEMBERS OF THE BOARD AND ARE BROTHERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS TO ALLOW FOR THE OPPORTUNITY TO REVIEW. THE BOARD MEMBERS WILL THEN HAVE THE OPPORTUNITY TO DISCUSS AND REVIEW THE RETURN PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES ARE ASKED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. ALL POTENTIAL CONFLICTS ARE BROUGHT TO LEGAL COUNSEL TO REVIEW AND DETERMINE IF A CONFLICT DOES EXIST. IF A CONFLICT IS DETERMINED, THE COO WILL REVIEW. LEGAL COUNSEL CONTINUES TO MONITOR CONFLICTS AND WILL BRING ALL POTENTIAL ISSUES TO THE COO FOR FURTHER REVIEW. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS DURING THE BUDGET APPROVAL PROCESS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 1,858,705. MANAGEMENT AND GENERAL EXPENSES 259,592. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,118,297. FORM 990, PART XI, LINE 9: EXCESS OF FAIR VALUE OF NET ASSETS ACQUIRED IN ACQUISITION OF PROMISE PREP 414,720. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ENTREPRENEURIAL VENTURES IN EDUCATION 1001 MARINA DRIVE STE 410 QUINCY MA 02171 263185485 EDUCATION MA 501C(3) LINE 7 N/A 0 TIMOTHY L JOHNSON ACADEMY 4625 WERLING DRIVE FORT WAYNE IN 46806 651417541 EDUCATION IN 501C(3) LINE 2 N/A 0 THEA BOWMAN LEADERSHIP ACADEMYDREXEL FOUNDATION PO BOX 4661 GARY IN 46402 352125768 EDUCATION IN 501C(3) LINE 2 N/A 0 SEABURY CHARTER LLC 64 SEABURY POINT ROAD DUXBURY MA 02332 811185978 REAL ESTATE/FINANCE MA JAMES S PHALEN C 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 ENTREPRENEURIAL VENTURES IN EDUCATION Q 5146834 FMV ENTREPRENEURIAL VENTURES IN EDUCATION D 10802219 FMV ENTREPRENEURIAL VENTURES IN EDUCATION E 6163622 FMV TIMOTHY L JOHNSON ACADEMY L 474672 FMV THEA BOWMAN LEADERSHIP ACADEMYDREXEL FOUNDATION L 1335882 FMV SEABURY CHARTER LLC E 1750000 FMV