2020-03-20T08:27:35-05:00 2019-06-30 351178661 BLUE & CO LLC 500 N MERIDIAN ST SUITE 200 INDIANAPOLIS IN 46204 990 2018-07-01 263890401 PARAMOUNT SCHOOL OF EXCELLENCE PARA 3177756660 3020 NOWLAND AVE INDIANAPOLIS IN 46201 THOMAS REDDICKS EXECUTIVE DIRECTOR 3177756660 2020-03-18 1 MARGOT BURKE P01588992 3176334705 2020-03-18 47.227.233.166 2020-03-18 16:35:58 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 CF253C16AA79457DBB141110F0942FA5491417DB 2018 2021-01-29 14:40:06Z THOMAS REDDICKS 3020 NOWLAND AVE INDIANAPOLIS IN 46201 10384445 0 X WWW.PARAMOUNTINDY.ORG X 2009 IN PARAMOUNT SCHOOLS OF EXCELLENCE'S THREE EAST SIDE CAMPUSES EXIST TO EDUCATE K-8 GRADE STUDENTS IN AN INNOVATIVE ENVIRONMENT THAT INSTILLS HIGH EXPECTATIONS FOR SUCCESS. ESTABLISHED IN 2010, PARAMOUNT ACCOMPLISHES ITS MISSION THROUGH AN EMPHASIS ON RIGOROUS ACADEMICS, TECHNOLOGY, AND THE ENVIRONMENT. AUTHORIZED BY THE MAYOR'S OFFICE OF EDUCATION INNOVATION, THE FREE PUBLIC CHARTER SCHOOLS CURRENTLY SERVE 1,060 STUDENTS, OF WHICH 80% ARE FROM HOUSEHOLDS AT OR BELOW THE POVERTY LEVEL. RISK FACTORS FOR PARAMOUNT STUDENTS INCLUDE LACK OF SOCIAL AND SCHOOL READINESS, LANGUAGE BARRIERS, UNDERPERFORMING ACADEMIC ACHIEVEMENT LEVELS, AND LOW PARENTAL INVOLVEMENT. THEREFORE, IT IS ESSENTIAL THAT THE SCHOOL CONTINUALLY FIND WAYS TO REMOVE OBSTACLES THAT HAMPER EDUCATIONAL ATTAINMENT, SO PARAMOUNT'S STUDENTS REACH THEIR FULL POTENTIAL. 8 7 151 149 0 0 8182662 10338633 1440 1440 3768 15925 63590 2702 8251460 10358700 0 0 0 0 4668237 6188014 0 0 0 2442960 3233627 7111197 9421641 1140263 937059 12086806 12960535 5927245 5863915 6159561 7096620 TO INSPIRE LEARNING THROUGH AN UNPARALLELED ACADEMIC APPROACH, AND TRANSFORM COMMUNITIES BY CHANGING LIVES. 0 0 7537312 29887 PARAMOUNT'S EDUCATION FRAMEWORK AND HARDWORKING STAFF HAVE PROVEN TO BE A SUCCESSFUL COMBINATION. STATE TESTING CONSISTENTLY RANKS PARAMOUNT AMONG THE TOP CHARTER SCHOOLS IN INDIANA. RESULTS FOR THE 2019 INDIANA ILEARN ACADEMIC ASSESSMENT PLACED PARAMOUNT COMMUNITY HEIGHTS AS THE TOP-PERFORMING SCHOOL WITHIN THE IPS' BOUNDARIES, AND PARAMOUNT BROOKSIDE AS THE FOURTH HIGHEST. ADDITIONALLY, PARAMOUNT BROOKSIDE HAS DESIGNATED AN INDIANA "A" SCHOOL AND A 2018 U.S. BLUE RIBBON SCHOOL. THE EDUCATION EQUALITY INDEX RECOGNIZED PSOE FOR CLOSING THE ACHIEVEMENT GAP IRRESPECTIVELY OF A FAMILY'S INCOME. AND THE INDIANA DEPARTMENT OF EDUCATION INCLUDED PARAMOUNT AMONG THE 200 PROMISING PRACTICES FOR ACCESSIBILITY IN STEM EDUCATION. 7537312 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 41 0 1 151 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 IN X THOMAS REDDICKS 3177756660 3020 NOWLAND AVENUE INDIANAPOLIS IN 46201 X TOM RUDE BOARD CHAIR 1.00 X X 0 0 0 JAMES HAZZARD VICE CHAIR 1.00 X X 49688 0 0 PEGGY BLACKARD BOARD SECRETARY 1.00 X X 0 0 0 BRITTANY ELDGRIDGE BOARD TREASURER 1.00 X X 0 0 0 JUDE AMU BOARD MEMBER 1.00 X 0 0 0 ASTER BEKELE BOARD MEMBER 1.00 X 0 0 0 AMANDA BISHOP BOARD MEMBER 1.00 X 0 0 0 CHRISTOPHER PARK BOARD MEMBER 1.00 X 0 0 0 THOMAS REDDICKS EXECUTIVE DIRECTOR 40.00 X 138938 0 22354 SCOTT FRYE SCHOOL PRINCIPAL 40.00 X 127596 0 9006 316222 0 31360 2 0 1 0 ARAMARK 2855 N FRANKLIN ROAD INDIANAPOLIS IN 46219 FOOD SERVICE 433633 KEYSTONE CONSTRUCTION 47 S PENNSYLVANIA STREET FL 10 INDIANAPOLIS IN 46204 CONSTRUCTION 192769 2 34685 9740329 563619 11809 10338633 STUDENT FEES 611710 1440 1440 1440 15925 15925 0 34685 25745 -25745 -25745 28447 28447 28447 10358700 29887 0 -9820 X 210980 168784 42196 4642649 3714118 928531 353557 282846 70711 590904 472723 118181 389924 311939 77985 3210 2568 642 1041153 832922 208231 46786 37429 9357 182933 146346 36587 65590 52472 13118 442406 353925 88481 60094 48075 12019 65336 52269 13067 221533 177226 44307 381179 304943 76236 46199 36959 9240 FOOD 499890 399912 99978 DUES & SUB. 85406 68325 17081 COURSE MATERIALS 47005 37604 9401 SMALL EQUIPMENT 44575 35660 8915 332 267 65 9421641 7537312 1884329 0 2027165 2384055 518591 528184 111226 168083 33532 74716 12795751 2990254 9396292 9805497 12086806 12960535 469223 594646 25162 5458022 5244107 5927245 5863915 X 6159561 7096620 6159561 7096620 12086806 12960535 937059 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 936500 936500 9513550 1236494 8277056 1951092 1502610 448482 394609 251150 143459 9805497 X 10358700 0 10358700 0 10358700 9421641 0 9421641 0 9421641 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY PARAMOUNT AND RECOGNIZE A TAX LIABILITY IF PARAMOUNT HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY VARIOUS FEDERAL AND STATE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY PARAMOUNT, AND HAS CONCLUDED THAT AS OF JUNE 30, 2019 AND 2018, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. PARAMOUNT IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 PARAMOUNT SCHOOL OF EXCELLENCE IS PROMOTED VIA ALL INTERNET AND PRINTED MATERIAL AS AN URBAN CHARTER SCHOOL OPEN TO ALL WHO APPLY, EXCEPT IF THE SCHOOL IS OVER-SUBSCRIBED, IN WHICH CASE A PUBLIC LOTTERY IS HELD FOR ALL OF THE STUDENTS WHO APPLIED DURING THE OPEN ENROLLMENT WINDOW. SCHEDULE E, PART I, LINE 6 PARAMOUNT SCHOOL OF EXCELLENCE RECEIVES STATE FUNDS THAT HAVE BEEN DESIGNATED FOR CHARTER SCHOOLS FROM THE INDIANA DEPARTMENT OF EDUCATION. THE STATE USES A FORMULA BASED ON THE NUMBER OF STUDENTS ENROLLED IN THE SCHOOL DURING THE YEAR TO DETERMINE THE AMOUNT OF FUNDS THE SCHOOL RECEIVES. APPROXIMATELY 64% OF THE SCHOOL'S FUNDING IS FROM THE INDIANA DEPARTMENT OF EDUCATION. TURN FESTIVAL 34685 34685 6193 1552 269 17731 34685 34685 6193 1552 269 17731 25745 -25745 X X 0 0 0 0 0 0 0 0 0 THOMAS REDDICKS EXECUTIVE DIRECTOR 123938 0 15000 0 0 0 11250 0 11104 0 161292 0 0 0 A INDIANA FINANCE AUTHORITY 351602316 2015-12-17 5175000 SEE PART XI 0 0 0 A 177724 5175000 21601 89000 5175000 0 0 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 SCHEDULE K, PART I, DESCRIPTION OF PURPOSE: THE PURPOSE OF THE EDUCATIONAL FACILITIES REVENUE BONDS, SERIES 2015, WILL BE USED FOR (I) THE COSTS INCURRED IN CONNECTION WITH THE ACQUISITION, CONSTRUCTION, INSTALLATION AND EQUIPPING OF AN APPROXIMATELY 16,000 SQUARE FOOT ADDITION TO ITS EXISTING FACILITIES; (II) RENOVATION OF ITS EXISTING FACILITY; (III) REFINANCING OF PRIOR DEBT INCURRED IN CONNECTION WITH THE ACQUISITION OF THE EXISTING FACILITY, AND (IV) CERTAIN COSTS OF ISSUANCE. FORM 990, PART VI, SECTION B, LINE 11B THE PROCESS OF REVIEWING THE FORM 990 INCLUDES A DETAILED REVIEW OF THE FORM 990 AND REQUIRED SCHEDULES BY THE EXECUTIVE DIRECTOR, BOARD PRESIDENT AND TREASURER. EACH VOTING MEMBER OF THE GOVERNING BODY RECEIVES A COPY OF THE FORM 990 TO REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE WRITTEN CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED AND COMPLIANCE ENFORCED BY THE BOARD PRESIDENT. THE SCOPE OF THIS POLICY INCLUDES ALL BOARD OF DIRECTORS AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS. THE POLICY IS IN PLACE TO AVOID ANY DUALITY OF INTEREST OR POTENTIAL CONFLICT OF INTEREST BY FULL DISCLOSURE OF ANY SUCH POTENTIAL CONFLICT, AND BY ABSTENTION BY THE INTEREST PERSON FROM ANY VOTE ON A MATTER IN WHICH A CONFLICT EXISTS BETWEEN THE INTERESTED PERSON AND THE SCHOOL. THE COVERED PERSONS ARE TO ANNUALLY COMPLETE A CERTIFICATION FORM TO ACKNOWLEDGE THE ABSENCE OF OR EXISTENCE OF ANY CONFLICT OF INTEREST AND TO DESCRIBE SUCH EXISTENCE, IF APPLICABLE. EACH PERSON SHALL PROMPTLY FURNISH AND UPDATE CERTIFICATION TO THE SCHOOL IN THE EVENT THAT THE CERTIFICATION PREVIOUSLY FURNISHED IS NO LONGER TRUE AND COMPLETE. THE COVERED PERSONS ARE TO REFRAIN FROM ANY KNOWN OR ANTICIPATED FINANCIAL INTEREST OR RELATIONSHIP WHICH COULD REASONABLY BE EXPECTED TO CREATE A CONFLICT OF INTEREST ON ANY MATTER WHICH MIGHT COME BEFORE THE BOARD OF DIRECTORS. SELF-DISCLOSURE IS REQUIRED ON ANY POTENTIAL CONFLICTS OF INTEREST. ANY BOARD MEMBER IN CONFLICT IS TO RECUSE THEMSELVES FROM PARTICIPATING IN ANY DELIBERATION OR DECISIONS ON RELATED TRANSACTIONS. THE BOARD OF DIRECTORS REVIEWS ALL DISCLOSED CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER INCLUDES A REVIEW AND APPROVAL BY INDEPENDENT PERSONS OF THE EXECUTIVE COMMITTEE. COMPENSATION IS REVIEWED AND APPROVED ANNUALLY. THE EXECUTIVE COMMITTEE USES INDUSTRY STANDARD DATA PRIOR TO BOARD DISCUSSION AND APPROVAL. OTHER SCHOOL'S FORM 990 INFORMATION IS USED AS COMPARABLE DATA. THE DELIBERATION, DECISION, AND APPROVAL ARE DOCUMENTED IN THE EXECUTIVE COMMITTEE MEMO. THE PROCESS FOR DETERMINING COMPENSATION FOR OFFICERS/KEY EMPLOYEES INCLUDES A REVIEW BY THE EMPLOYEE'S DIRECT SUPERVISOR AND APPROVAL BY THE CHIEF EXECUTIVE OFFICER. COMPENSATION IS REVIEWED AND APPROVED ANNUALLY. THE CHIEF EXECUTIVE OFFICER USES INDUSTRY STANDARD DATA PRIOR TO APPROVAL OF THE COMPENSATION PACKAGE PROPOSED BY EMPLOYEE'S DIRECT SUPERVISOR. OTHER SCHOOLS' FORM 990 INFORMATION IS USED AS COMPARABLE DATA. THE REVIEW AND CONTRACTED COMPENSATION APPROVAL ARE DOCUMENTED IN THE EMPLOYEE'S PERSONNEL FILE. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, SECTION B: THE AMOUNT IN COLUMN (C) PAID TO THE VENDOR KEYSTONE CONSTRUCTION INCLUDES PAYMENTS FOR BOTH MATERIALS AND SERVICES. FORM 990, PART IX, LINE 11G PURCHASED SERVICES: PROGRAM SERVICE EXPENSES 239,848. MANAGEMENT AND GENERAL EXPENSES 59,962. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 299,810. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 593,074. MANAGEMENT AND GENERAL EXPENSES 148,269. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 741,343. FORM 990, PART XII, LINE 2C, OVERSIGHT OF AUDIT: THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT AND NO PROCESSES HAVE CHANGED FROM PRIOR YEAR.