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      <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
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      <NetUnrlzdGainsLossesInvstAmt>38626</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>484</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>false</FSAuditedInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
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        <BookValueAmt>2929361</BookValueAmt>
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        <Desc>PAYROLL CLEARING</Desc>
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        <Desc>ACCRUED PAYROLL</Desc>
        <Amt>15582</Amt>
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      <OtherLiabilitiesOrgGrp>
        <Desc>PAYROLL TAXES PAYABLE</Desc>
        <Amt>3729</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>SIMPLE IRA PAYABLE</Desc>
        <Amt>1678</Amt>
      </OtherLiabilitiesOrgGrp>
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    <IRS990ScheduleE documentId="RetDoc4">
      <NondiscriminatoryPolicyStmtInd>true</NondiscriminatoryPolicyStmtInd>
      <PolicyStmtInBrochuresEtcInd>true</PolicyStmtInBrochuresEtcInd>
      <PlcyPblczdViaBroadcastMediaInd>true</PlcyPblczdViaBroadcastMediaInd>
      <MaintainRacialCompRecsInd>true</MaintainRacialCompRecsInd>
      <MaintainScholarshipsRecsInd>true</MaintainScholarshipsRecsInd>
      <MaintainCpyOfBrochuresEtcInd>true</MaintainCpyOfBrochuresEtcInd>
      <MaintainCpyOfAllSolInd>true</MaintainCpyOfAllSolInd>
      <DiscriminateRaceStdntsRghtsInd>false</DiscriminateRaceStdntsRghtsInd>
      <DiscriminateRaceAdmissPlcyInd>false</DiscriminateRaceAdmissPlcyInd>
      <DiscriminateRaceEmplmFcultyInd>false</DiscriminateRaceEmplmFcultyInd>
      <DiscriminateRaceSchsInd>false</DiscriminateRaceSchsInd>
      <DiscriminateRaceEducPlcyInd>false</DiscriminateRaceEducPlcyInd>
      <DiscriminateRaceUseOfFcltsInd>false</DiscriminateRaceUseOfFcltsInd>
      <DiscriminateRaceAthltProgInd>false</DiscriminateRaceAthltProgInd>
      <DiscriminateRaceOtherActyInd>false</DiscriminateRaceOtherActyInd>
      <GovernmentFinancialAidRcvdInd>false</GovernmentFinancialAidRcvdInd>
      <GovernmentFinancialAidRvkdInd>false</GovernmentFinancialAidRvkdInd>
      <ComplianceWithRevProc7550Ind>true</ComplianceWithRevProc7550Ind>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>INDEPENDENCE ACADEMY OF INDIANA, INC. PUBLISHES ITS NONDISCRIMINATION POLICY IN THE INDIANAPOLIS STAR - THE LOCAL/REGIONAL NEWSPAPER FOR THE INDIANAPOLIS AREA. THE NONDISCRIMINATION POLICY IS ALSO STATED ON ITS WEBSITE.</ExplanationTxt>
      </SupplementalInformationDetail>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 2, PART III, LINE 4D</FormAndLineReferenceDesc>
        <ExplanationTxt>INTERNAL SCHOLARSHIPS PROVIDED FOR FAMILIES WHERE FINANCIAL ASSISTANCE IS NEEDED</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ENTITIES FORM 990 WILL BE REVIEWED AT A BOARD MEETING BY THE MEMBERS OF THE BOARD PRIOR TO THE FILING OF THE RETURN. FORM 990, PART VI, SECTION C DISCLOSURE, LINE 19: THE ENTITIES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST AT THE OFFICE OF THE ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ENTITIE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST AT THE OFFICE OF THE ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>SPEECH SERVICES 28,550 0 0 GRANT EXPENSES 130,918 0 0 SUPPLIES 34,854 0 0 SUPPLIES 14,445 0 0 TOTAL 208,767 0 0</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9</FormAndLineReferenceDesc>
        <ExplanationTxt>BOOK / TAX DEPRECIATION DIFFERENCE 484</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>
