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PeerBasis
Compensation Comparability Determination

Indus Center For Academic Excellence

Executive Director / CEO

EIN 383229386
MI · NTEE B25
FY ending 2024-12-31
June 9, 2026

This analysis benchmarks the total compensation of Khetan Raghunath, Executive Director / CEO ($99,769) against every comparable organization that fit the selection criteria — 27 in total — drawn systematically from IRS Form 990 filings, not a hand-picked subset.

Compensation sits at approximately the 93rd percentile of comparable organizationsabove the 90th percentile — board review recommended

Benchmarked executive: Khetan Raghunath — reported title “DIRECTOR”, selected as the organization's highest-paid individual — no exact title match, so confirm this is a comparable role.

How comparable organizations were selected

27 organizations qualified on sector, size, and geography 27 within the band form the benchmarked peer set.

Distribution of comparable compensation

$4,996 total compensation of comparable organizations → $111,756 $99,769
$14,97810th
$20,30625th
$37,415Median
$60,30175th
$86,73490th
$99,769This org · 93rd
p10$14,978
p25$20,306
p50$37,415
p75$60,301
p90$86,734
$99,769

Comparable organizations

Each figure is Form 990 Part VII columns D + F (reportable pay plus other compensation and benefits; column F may include amounts from related organizations), normalized to MI cost of living (BEA RPP, 2023) and to its filing year (CPI-U); the reported amount is on each linked 990.

OrganizationStateRevenueMatched titleComp
(reported)
Comp
(adjusted)
FY
La Luz Education CO$201,513 President $60,002 $55,742 2024
New Jersey School Of Dramatic Arts NJ$216,873 President $45,020 $38,943 2024
Victory High School NH$191,837 Treasurer $23,100 $20,133 2025
The Bearcamp Center For Sustainable Community NH$190,952 Executive Director $35,000 $32,236 2023
Empigo Academy Inc IA$183,107 Dean Of Students $21,900 $22,632 2025
Alabama Association Of Secondary AL$234,666 Asst. Ex Dir $53,039 $57,154 2023
College Access Navigators Inc CO$236,191 Executive Director $60,000 $55,740 2024
Living Oaks Academy SC$237,089 Chairman $21,250 $21,478 2024
Chesterton Academy Of The FL$237,751 Board Member $22,500 $20,478 2024
Academy Funding Of Bastrop TX$165,463 President $18,000 $17,444 2024
St John Bosco Association OK$250,093 Director $36,000 $37,415 2025
Overseas United Education Foundation Inc NH$161,250 Principal $15,000 $13,815 2023
Global Recovery Initiatives Foundation MD$254,208 Director $120,000 $108,692 2024
Valor Christian High School In ID$152,564 Secretary $10,782 $11,112 2024
East Burke School Inc VT$264,402 Co Head Of School $62,001 $60,461 2024
Dietrich Bonhoeffer Academy Inc TX$265,390 Head Of School $86,592 $81,756 2025
Eastern Washington Interscholastic WA$146,001 District Dir $43,500 $36,760 2025
Insight Colearning Center NC$268,088 Executive Director $60,000 $61,838 2023
Rural Education And Workforce Alliance KS$270,521 Member $103,710 $111,756 2023
Pleasant Ridge Christian Academy Inc FL$273,043 Director Of Operations $17,308 $15,753 2024
Doing Art Together Inc NY$279,391 Creative Director $61,200 $55,161 2023
Concordia Academy-wichita KS$283,423 Headmaster $90,000 $94,200 2024
Career Tech High School OR$287,163 Executive Director $25,012 $23,169 2023
Oldham County Athletic Boosters Inc KY$295,877 Treasurer $4,800 $4,996 2024
Questa Middle School Inc FL$296,242 President $66,078 $60,141 2024

Comp (reported) is the figure on each organization's Form 990 (columns D + F); Comp (adjusted) normalizes it to MI cost of living and 2024 dollars. Click any organization to verify the figure on ProPublica.

Methodology

Comparable organizations were drawn from electronically filed IRS Form 990 returns and matched on sector (NTEE code), budget (a size-adaptive revenue band that tightens as the organization grows), and geography (same-state first, broadening only when too few peers qualify); every organization within the band forms the peer set. To compare fairly across regions and years, peer compensation is normalized to MI cost of living (BEA Regional Price Parities, 2023) and to the subject's filing year (CPI-U). The figure benchmarked is Form 990 Part VII, Section A, columns D + F — reportable pay plus other compensation, benefits, and deferred amounts (column F may include amounts from related organizations) — with the chief executive matched by role. Related-organization amounts (column E) and institutional trustees are excluded. Full methodology: peerbasis.org/methodology.

Sample, role match & sensitivity

Sensitivity — the subject's percentile under alternative compensation definitions:

BasisSubject percentile
Total compensation (D + F), cost-of-living + inflation adjusted — the PeerBasis default93rd
Total compensation (D + F), as reported (no adjustments)93rd
Reportable pay only (column D), adjusted96th
All sources (D + E + F), adjusted89th

If the percentile moves materially across these definitions, the result is sensitive to methodology choices, and the board should weigh which basis best fits its facts.

Rebuttable presumption of reasonableness · 26 CFR 53.4958-6

Compensation paid by a tax-exempt organization is presumed reasonable — shifting the burden to the IRS — when three requirements are met. This report supplies the comparability data for the second. The board should record the following in its minutes concurrently with its decision:

Draft board minutes — executive compensation

  1. The compensation of the Executive Director / CEO (Khetan Raghunath) was approved in advance by [the Board / Compensation Committee], composed of members with no conflict of interest with respect to the arrangement.
  2. Prior to its determination, the authorized body obtained and relied upon appropriate comparability data, namely the PeerBasis Compensation Comparability Determination dated June 9, 2026, comparing compensation against 27 similarly situated organizations (Same NTEE sector (B25), nationwide + budget 0.67–1.5× revenue).
  3. The authorized body determined that total compensation of $99,769 is reasonable (approximately the 93rd percentile of comparable organizations) and documented the basis for this determination concurrently, on [date], by a vote of [__ for / __ against].

Sources: IRS Form 990 e-file data (apps.irs.gov); IRS Business Master File (NTEE classification). Every figure traces to an original public filing — click any organization above to verify it on ProPublica. PeerBasis is a service of Prismind Analytics; its methodology is published, was commissioned for independent adversarial review, and discloses its own limitations. This report is comparability data to support a board's good-faith determination under IRC 4958; it is not legal or tax advice. Generated by PeerBasis on June 9, 2026.