2025-03-07T10:09:49-06:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 301 SW ADAMS STREET SUITE 1000 PEORIA IL 61602 990 2023-07-01 364729586 PHALEN LEADERSHIP ACADEMY - INDIANA PHAL 3173336980 1001 MARINA DRIVE 410 QUINCY MA 02171 EARL MARTIN PHALEN CHAIRMAN 3173336980 2025-03-05 1 1 ANDREW SMITH CPA P01518894 3096714500 2025-03-03 2023 2025-03-06 01:10:19Z X EARL MARTIN PHALEN 1001 MARINA DRIVE 410 QUINCY MA 02171 46116736 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 4 462 0 0 0 33471493 27051424 11201661 3881457 263 774 1697630 15183081 46371047 46116736 0 0 0 0 24750155 28029904 0 0 0 22332190 16313387 47082345 44343291 -711298 1773445 29834358 33462693 18053738 19908628 11780620 13554065 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. 0 0 35165644 19064538 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. 35165644 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 65 0 1 462 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 1001 MARINA DRIVE 410 QUINCY MA 02171 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 167192 12331 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 169491 0 20656 TORA TOWNSEND PRINCIPAL 40.00 X 130759 0 18212 LAWRENCE COURTNEY ELEMENTARY ED 40.00 X 146187 0 24563 MATTHEW RIMER PRINCIPAL 40.00 X 121376 0 26095 TROY LANE ASSISTANT PRINCIPAL 40.00 X 116432 0 16042 TONJA EVANS TEACHER 40.00 X 111710 0 10554 795955 167192 128453 12 0 1 0 G&M LLC 2806 WELCOME WAY GREENWOOD IN 46143 JANITORIAL SERVICES 495470 GPS LLC PO BOX 5935 DRAWER 2177 TROY MI 48007 SPECIAL NEEDS SUPPORT FOR STUDENTS 366155 PROGRESSIVE THERAPY SERVICE 7403 HAZELWOOD AVE INDIANAPOLIS IN 46260 SPECIAL NEEDS SUPPORT FOR STUDENTS 262172 DOUGLAS REALTY GROUP NOBLESVILLE LLC PO BOX 6147 FISHERS IN 46038 REALTY OCCUPANCY SERVICES 148500 4 16009472 11041952 27051424 MANAGEMENT FEES 900099 3238307 3238307 STUDENT EDUCATION 611600 643150 643150 3881457 774 774 OTHER INCOME 900099 15183081 15183081 15183081 46116736 19064538 0 774 X 181824 181824 21386018 17492911 3893107 1170914 964658 206256 3762717 3486825 275892 1528431 1292481 235950 173705 173705 2781552 2552470 229082 29480 29480 4238239 815968 3422271 633857 625806 8051 1309573 1272864 36709 233365 233365 467227 467227 385742 385742 MATERIALS AND SUPPLIES 3503587 3273696 229891 NUTRITIONAL SUPPORT 1769442 1769442 CLEANING SERVICES 491232 491232 PROFESSIONAL DEVELOPMEN 251948 43088 208860 44438 19930 24508 44343291 35165644 9177647 0 1308309 2819251 5674290 2662181 10762647 14422347 4800686 9772335 9621661 2316777 18359600 29834358 33462693 4699961 4555248 6051495 5661443 7302282 9691937 18053738 19908628 X 11303070 12851035 477550 703030 11780620 13554065 29834358 33462693 1773445 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 300000 300000 7064542 2285569 4778973 4429706 62590 4367116 1657858 1521716 136142 970241 930811 39430 9621661 SECURITY DEPOSIT 1000000 RIGHT OF USE ASSET 1134201 RELATED PARTY RECEIVABLE 16225399 18359600 RELATED PARTY PAYABLE 8531737 RIGHT OF USE LEASE LIABILITY 1160200 9691937 X 52094481 5977745 5977745 46116736 0 46116736 50321036 5977745 5977745 44343291 0 44343291 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, 2024, 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 2021 ARE OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. 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 165741 0 3750 0 0 0 10102 0 10554 0 190147 0 0 0 EARL MARTIN PHALEN DIRECTOR/CEO 0 167192 0 0 0 0 0 0 0 12331 0 179523 0 0 LAWRENCE COURTNEY ELEMENTARY ED 125494 0 15818 0 4875 0 7957 0 16606 0 170750 0 0 0 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 BEFORE 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 IT. 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 2024. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 24E MISCELLANEOUS: PROGRAM SERVICE EXPENSES 1,868. MANAGEMENT AND GENERAL EXPENSES 24,508. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 26,376. SECURITY SERVICES: PROGRAM SERVICE EXPENSES 16,982. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,982. REPAIRS & MAINTENANCE: PROGRAM SERVICE EXPENSES 1,080. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,080. 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 3090691 FMV ENTREPRENEURIAL VENTURES IN EDUCATION D 16321776 FMV ENTREPRENEURIAL VENTURES IN EDUCATION E 8195287 FMV TIMOTHY L JOHNSON ACADEMY D 109167 FMV TIMOTHY L JOHNSON ACADEMY L 643150 FMV SEABURY CHARTER LLC E 1750000 FMV