Carpe Diem Indiana Inc

Nonprofit profile at a glance

EIN
455235667
IRS 990 coverage
2013–2017
Forms available
Form 990 2017
Location
Indianapolis, IN, USA
Phone
3179217497
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Secondary, High School

Reported finances

Revenue
$2,146,917
Expenses
$3,559,746
Assets
$873,646
Liabilities
$6,353,289

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • RICK OGSTON (CEO)

Highest reported compensation

  • RICK OGSTON (CEO): $59,401 total reported compensation
  • NICK FLEEGE (COO): $50,052 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Carpe diem is a tuition-free public charter school successfully educating 6-12th grade students in a safe, student-focused environment.

What it reported doing in 2017

Carpe diem schools are tuition-free charter schools, educating 6-12th grade students using a proprietary blended learning model of digital curriculum plus high quality, personalized instruction and high expectations.

Operating model

Revenue model
Grant-funded. 94% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The required major-donor schedule is missing or incomplete and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 75
  • Accountability: 91
  • Sustainability: 11
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.5%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -65.8%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 7.27; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 3.1%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: 20.2% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $59K · 8 people listed
  • Highest-paid contractors: 1 contractor listed · $152K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2013 to 2017
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.