Civic Intelligence

The Fold Inc.

990 • Fiscal year 2023 • EIN 03-0221341

Jul 01, 2022 to Jun 30, 2023 • Filed on Oct 31, 2023

Organization Profile
PO Box 1188Lyndonville, VT 05851

(802) 274-4732

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

45th percentile

0.01x

Higher debt load relative to assets than 45% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

45th percentile

0.01x

Higher debt load relative to revenue than 45% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

93rd percentile

60%

Higher net margin than 93% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

92nd percentile

84%

Faster asset growth than 92% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

95th percentile

184%

Faster revenue growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$807,417

Up $367,453 (+84%) from 2022

Net Assets

Up

$800,786

Up $395,068 (+97%) from 2022

Liabilities

Down

$6,631

Down $27,615 (-81%) from 2022

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin93rd percentile

Revenue

Up

$612,434

Up $396,474 (+184%) from 2022

Expenses

Down

$245,096

Down $34,327 (-12%) from 2022

Net Income

Up

$367,338

Up $430,801 (+679%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0-$500KAssets 2012: $842,475Liabilities 2012: $468,181Net Assets 2012: $374,2942012Assets 2013: $813,563Liabilities 2013: $522,778Net Assets 2013: $290,7852013Assets 2014: $770,998Liabilities 2014: $458,592Net Assets 2014: $312,4062014Assets 2015: $732,614Liabilities 2015: $420,338Net Assets 2015: $312,2762015Assets 2016: $606,963Liabilities 2016: $333,584Net Assets 2016: $273,3792016Assets 2017: $526,093Liabilities 2017: $389,273Net Assets 2017: $136,8202017Assets 2018: $505,562Liabilities 2018: $368,741Net Assets 2018: $136,8212018Assets 2019: $408,469Liabilities 2019: $401,973Net Assets 2019: $6,4962019Assets 2020: $385,962Liabilities 2020: $438,977Net Assets 2020: -$53,0152020Assets 2021: $503,628Liabilities 2021: $35,912Net Assets 2021: $467,7162021Assets 2022: $439,964Liabilities 2022: $34,246Net Assets 2022: $405,7182022Assets 2023: $807,417Liabilities 2023: $6,631Net Assets 2023: $800,7862023Assets 2024: $906,653Liabilities 2024: $11,832Net Assets 2024: $894,8212024Assets 2025: $998,694Liabilities 2025: $2,880Net Assets 2025: $995,8142025

Highlighted filing

2023

Assets$807,417
Liabilities$6,631
Net Assets$800,786
Open 2023 Filing

Operations Trend

Revenue Growth95th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2012: $877,778Expenses 2012: $1,009,921Net Income 2012: -$132,1432012Revenue 2013: $864,172Expenses 2013: $946,709Net Income 2013: -$82,5372013Revenue 2014: $911,384Expenses 2014: $889,762Net Income 2014: $21,6222014Revenue 2015: $790,734Expenses 2015: $790,864Net Income 2015: -$1302015Revenue 2016: $771,047Expenses 2016: $809,944Net Income 2016: -$38,8972016Revenue 2017: $672,255Expenses 2017: $806,395Net Income 2017: -$134,1402017Revenue 2018: $1,001,632Expenses 2018: $1,001,631Net Income 2018: $12018Revenue 2019: $916,377Expenses 2019: $1,046,744Net Income 2019: -$130,3672019Revenue 2020: $460,503Expenses 2020: $520,014Net Income 2020: -$59,5112020Revenue 2021: $792,645Expenses 2021: $280,959Net Income 2021: $511,6862021Revenue 2022: $215,960Expenses 2022: $279,423Net Income 2022: -$63,4632022Revenue 2023: $612,434Expenses 2023: $245,096Net Income 2023: $367,3382023Revenue 2024: $333,531Expenses 2024: $222,075Net Income 2024: $111,4562024Revenue 2025: $316,181Expenses 2025: $215,187Net Income 2025: $100,9942025

Highlighted filing

2023

Revenue$612,434
Expenses$245,096
Net Income$367,338
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 31, 2023
Return Version
2022v5.0
Gross Receipts
$612,434
Mission and Program Overview

Mission

Residential Facility for troubled teens.

Elevation christian academy provides a nuturing day school environment for at-risk youth between the ages of 11 and 17.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$256,680$773,398▲ $516,718
Land, Buildings, and Equipment, Net$104,906--
Cash and Non-Interest-Bearing Accounts$78,275$23,764▼ $54,511
Total Assets$439,964$807,417▲ $367,453
Other Assets Total$103$10,255▲ $10,152
Liabilities
Other Liabilities$33,199$4,696▼ $28,503
Accounts Payable and Accrued Expenses$1,047$1,935▲ $888
Total Liabilities$34,246$6,631▼ $27,615
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$405,718$800,786▲ $395,068
Total Net Assets Fund Balance$405,718$800,786▲ $395,068
Total Liabilities and Net Assets / Fund Balance$439,964$807,417▲ $367,453

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$24,996$482,943$507,939
Equipment$-24,996$24,996-
Other Assets Org$10,255--
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Bill BeaulacBoard Chairman
Rod AmesVice Chair
Scott RancourtExecutive Director
Krista TomaselliMember
Jeanne LaughtonSecretary
Jon KuniholmTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$170,461
Program Service Revenue
$0
Investment Income
$439,873
Other Revenue
$2,100
All Other Contributions
$170,461
Change in Net Assets
$367,338
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$140,610
Other Expenses$104,486
Total Fundraising Expense$6,633
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$123,773-$123,773
Occupancy$1,768$16,101-$17,869
Payroll Taxes-$16,837-$16,837
Other Expenses$13,596$1,034-$14,630
Depreciation Depletion$465$11,811-$12,276
Insurance-$10,878-$10,878
Office Expenses--$5,769$5,769
Advertising$2,910-$864$3,774
Fees for Services Accounting-$3,127-$3,127
Travel-$1,969-$1,969
Total Functional Expenses$52,933$185,530$6,633$245,096
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$4,160
Payroll$536
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“990 reports are read by ceo and compared to the fiscal year audit report before being being sent to the irs.”

Conflict of interest policy compliance Part VI line 12C

“If there is a conflict of interest, the board member does not vote.”

CEO executive director top management comp Part VI line 15A

“All top management compensation is determined by the boards personnel committee. It is then presented to the finance committee and voted on by the full board.”

Other officer or key employee compensation Part VI line 15B

“All employee wages, including key employees, are determined by the the boards personnel committee and presented to the finance committee to include in yearly budget. See explanation for part vi, line 15a.”

Governing documents etc available to public Part VI line 19

“The fold inc. Makes all of its governing documents, conflict of interest policies and financial statements available to the public by request only.”

Filing and Contact Details

Filer

Filer Name
The Fold Inc
EIN
03-0221341
Address
PO BOX 1188, LYNDONVILLE, VT 05851
Doing Business As
Elevation Christian Academy

Signing Officer

Name
Bill Beaulac
Title
Board Chairman
Phone
8022744732
Signed
2023-10-31
Discuss with paid preparer
Yes

Organization Details

Formed
1967
Legal Domicile
Vt
Voting Board Members
7
Independent Board Members
7
Employees
8

Preparer

Firm
S&D Accounting Services LLC
Address
419 VT Route 105 Ste B, Newport, VT 05855
Preparer
Stephen C Mengel
Phone
8026244148
Supplemental Narrative

Additional Explanations

Cessation of or significant change to any program service Part III line 3

“Program services are now in a non-residential school.”

Raw XML Appendix370 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0990 REPORTS ARE READ BY CEO AND COMPARED TO THE FISCAL YEAR AUDIT REPORT BEFORE BEING BEING SENT TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IF THERE IS A CONFLICT OF INTEREST, THE BOARD MEMBER DOES NOT VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL TOP MANAGEMENT COMPENSATION IS DETERMINED BY THE BOARDS PERSONNEL COMMITTEE. IT IS THEN PRESENTED TO THE FINANCE COMMITTEE AND VOTED ON BY THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL EMPLOYEE WAGES, INCLUDING KEY EMPLOYEES, ARE DETERMINED BY THE THE BOARDS PERSONNEL COMMITTEE AND PRESENTED TO THE FINANCE COMMITTEE TO INCLUDE IN YEARLY BUDGET. SEE EXPLANATION FOR PART VI, LINE 15A.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOLD INC. MAKES ALL OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY REQUEST ONLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROGRAM SERVICES ARE NOW IN A NON-RESIDENTIAL SCHOOL.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Cessation of or significant change to any program service Part III line 3
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0S&D Accounting Services LLC
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ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Stephen C Mengel
ReturnHeader/ReturnTs02023-11-15T16:25:46-05:00
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ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$807,417
Liabilities
$6,631
Net assets
$800,786
Revenue
$612,434
Expenses
$245,096
Net income
$367,338
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.00$1.00$0.32$0.22$0.10
2024Detailed filing. Detailed filing data is available for this year.$0.91$0.01$0.89$0.33$0.22$0.11
2023Detailed filing. Detailed filing data is available for this year.$0.81$0.01$0.80$0.61$0.25$0.37
2022Detailed filing. Detailed filing data is available for this year.$0.44$0.03$0.41$0.22$0.28$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.50$0.04$0.47$0.79$0.28$0.51
2020Detailed filing. Detailed filing data is available for this year.$0.39$0.44$0.05$0.46$0.52$0.06
2019Detailed filing. Detailed filing data is available for this year.$0.41$0.40$0.01$0.92$1.05$0.13
2018Detailed filing. Detailed filing data is available for this year.$0.51$0.37$0.14$1.00$1.00$0.00
2017Summary only. Only limited summary data is available for this year.$0.53$0.39$0.14$0.67$0.81$0.13
2016Summary only. Only limited summary data is available for this year.$0.61$0.33$0.27$0.77$0.81$0.04
2015Summary only. Only limited summary data is available for this year.$0.73$0.42$0.31$0.79$0.79$0.00
2014Summary only. Only limited summary data is available for this year.$0.77$0.46$0.31$0.91$0.89$0.02
2013Summary only. Only limited summary data is available for this year.$0.81$0.52$0.29$0.86$0.95$0.08
2012Summary only. Only limited summary data is available for this year.$0.84$0.47$0.37$0.88$1.01$0.13