Civic Intelligence

First Academy Inc

990 • Fiscal year 2019 • EIN 06-1426905

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

Organization ProfileN/A
1151 Blue Hills AvenueBloomfield, CT 06002

(860) 243-6520

Siviq Scores

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

Liabilities / Assets

98th percentile

2.11x

Higher debt load relative to assets than 98% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

81st percentile

0.32x

Higher debt load relative to revenue than 81% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

41st percentile

0.4%

Higher net margin than 41% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

63rd percentile

$44,615

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

98th percentile

266%

Faster asset growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

81st percentile

34%

Faster revenue growth than 81% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$81,523

Up $59,274 (+266%) from 2018

Net Assets

Up

-$90,755

Up $2,298 (+2.5%) from 2018

Liabilities

Up

$172,278

Up $56,976 (+49%) from 2018

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin41st percentile

Revenue

Up

$537,626

Up $136,776 (+34%) from 2018

Expenses

Up

$535,328

Up $126,132 (+31%) from 2018

Net Income

Up

$2,298

Up $10,644 (+128%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$600K$400K$200K$0-$200KAssets 2017: $7,483Liabilities 2017: $92,1902017Assets 2018: $22,249Liabilities 2018: $115,302Net Assets 2018: -$93,0532018Assets 2019: $81,523Liabilities 2019: $172,278Net Assets 2019: -$90,7552019Assets 2020: $216,761Liabilities 2020: $365,485Net Assets 2020: -$148,7242020Assets 2021: $262,428Liabilities 2021: $348,881Net Assets 2021: -$86,4532021Assets 2022: $73,284Liabilities 2022: $189,133Net Assets 2022: -$115,8492022Assets 2023: $212,091Liabilities 2023: $363,672Net Assets 2023: -$151,5812023Assets 2024: $434,720Liabilities 2024: $358,496Net Assets 2024: $76,2242024

Highlighted filing

2019

Assets$81,523
Liabilities$172,278
Net Assets-$90,755
Open 2019 Filing

Operations Trend

Revenue Growth81st percentile

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

$1.0M$500K$0-$500KRevenue 2017: $84,729Expenses 2017: $106,563Net Income 2017: -$21,8342017Revenue 2018: $400,850Expenses 2018: $409,196Net Income 2018: -$8,3462018Revenue 2019: $537,626Expenses 2019: $535,328Net Income 2019: $2,2982019Revenue 2020: $413,978Expenses 2020: $471,947Net Income 2020: -$57,9692020Revenue 2021: $613,567Expenses 2021: $551,296Net Income 2021: $62,2712021Revenue 2022: $574,676Expenses 2022: $604,072Net Income 2022: -$29,3962022Revenue 2023: $748,286Expenses 2023: $784,018Net Income 2023: -$35,7322023Revenue 2024: $894,537Expenses 2024: $666,732Net Income 2024: $227,8052024

Highlighted filing

2019

Revenue$537,626
Expenses$535,328
Net Income$2,298
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$537,626
Mission and Program Overview

Mission

To be a diverse community committed to academic excellence and the successful development of every child

To provide a safe nurturing and developmentally appropriate program which fosters active learning support for the whole child

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$20,398$55,560▲ $35,162
Cash and Non-Interest-Bearing Accounts$1,851$22,568▲ $20,717
Prepaid Expenses and Deferred Charges-$3,395-
Rtn Earn Endowment Incm Other Fnds$-93,053$-90,755▲ $2,298
Total Assets$22,249$81,523▲ $59,274
Liabilities
Accounts Payable and Accrued Expenses$78,350$152,252▲ $73,902
Unsecured Notes Loans Payable$36,952$20,026▼ $16,926
Total Liabilities$115,302$172,278▲ $56,976
Net Assets / Fund Balance
Total Net Assets Fund Balance$-93,053$-90,755▲ $2,298
Total Liabilities and Net Assets / Fund Balance$22,249$81,523▲ $59,274

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$38,414-
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Evoni DavisSchool DirectorFT$44,615$44,615
Venice EasterlingTreasurer-$4,050$4,050

Board Members and Trustees

NameTitle
Leroy Bailey IiiPresident
Latesha JohnsonVice President
Arlene MonroeDirector
Cinque CullarDirector
David MonroeDirector
Elijah OliverDirector
Ollie WilliamsDirector
Robin Woodward SmithSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,850
Program Service Revenue
$535,776
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,300
Change in Net Assets
$2,298
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$423,450
Other Expenses$111,878
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$340,632--$340,632
Current Officers, Directors, Trustees, and Key Employees$31,230$17,435-$48,665
All Other Expenses$31,868$5,159-$37,027
Payroll Taxes$31,423$1,638-$33,061
Occupancy$21,105$3,600-$24,705
Fees for Services Other$20,081--$20,081
Fees for Services Accounting-$3,375-$3,375
Other Expenses$1,685$1,591-$3,276
Insurance$2,569$427-$2,996
Interest$68$1,441-$1,509
Other Employee Benefits$1,092--$1,092
Fees for Services Legal$517--$517
Office Expenses-$54-$54
Total Functional Expenses$500,608$34,720$0$535,328
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
No
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

Part VI, Section A, Line 2

“Directors david monroe and arlene monroe are husband and wife”

PART VI, SECTION A, LINE 8A

“Minutes are recorded for board meetings held”

PART VI, SECTION A, LINE 8B

“Minutes are recorded for finance committee meetings”

Part VI, Section B, Line 11

“Due to meeting contraints of covid-19. Return was filed from review of president and treasurer but ratified after by full board members at semi annual meeting”

PART VI, SECTION B, LINE 12C

“Organization has conflicts of interest policay and baord members and key employees are required to sign each year and report any know conlficts that may arise through out the year”

PART VI, SECTION B, LINE 15A

“Salary for school director was reviewed by president and treasurer along with accountant and compared with industry standard as well as schools ability to pay, documented by the board secretary”

PART VI, SECTION B, LINE 15B

“No other officers receives compensation from the school”

Part VI, Section C, Line 19

“One may contact the main office and make arrangements to review records.”

Filing and Contact Details

Filer

Filer Name
First Academy Inc
EIN
06-1426905
Phone
8602436520
Address
1151 BLUE HILLS AVENUE, BLOOMFIELD, CT 06002

Signing Officer

Name
Venice Easterling
Title
Treasurer
Phone
8602436520
Signed
2020-11-16
Discuss with paid preparer
No

Organization Details

Principal Officer
Leroy Bailey Iii
Formed
2016
Legal Domicile
Ct
Voting Board Members
6
Independent Board Members
0
Employees
29

Preparer

Firm
The Harvesters
Address
54 GRANBY STREET, BLOOMFIELD, CT 06002
Preparer
Nyandah Robinson
Phone
8447577327
Supplemental Narrative

Additional Explanations

PART IX, LINE 24E

“Payroll processing fees - 4263.91 business registration fees - 500.00 food services - 31335.53 field trips 532”

Raw XML AppendixShowing 400 of 414 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/ExplanationTxt0DIRECTORS DAVID MONROE AND ARLENE MONROE ARE HUSBAND AND WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MINUTES ARE RECORDED FOR BOARD MEETINGS HELD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MINUTES ARE RECORDED FOR FINANCE COMMITTEE MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DUE TO MEETING CONTRAINTS OF COVID-19. RETURN WAS FILED FROM REVIEW OF PRESIDENT AND TREASURER BUT RATIFIED AFTER BY FULL BOARD MEMBERS AT SEMI ANNUAL MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ORGANIZATION HAS CONFLICTS OF INTEREST POLICAY AND BAORD MEMBERS AND KEY EMPLOYEES ARE REQUIRED TO SIGN EACH YEAR AND REPORT ANY KNOW CONLFICTS THAT MAY ARISE THROUGH OUT THE YEAR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SALARY FOR SCHOOL DIRECTOR WAS REVIEWED BY PRESIDENT AND TREASURER ALONG WITH ACCOUNTANT AND COMPARED WITH INDUSTRY STANDARD AS WELL AS SCHOOLS ABILITY TO PAY, DOCUMENTED BY THE BOARD SECRETARY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO OTHER OFFICERS RECEIVES COMPENSATION FROM THE SCHOOL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ONE MAY CONTACT THE MAIN OFFICE AND MAKE ARRANGEMENTS TO REVIEW RECORDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8PAYROLL PROCESSING FEES - 4263.91 BUSINESS REGISTRATION FEES - 500.00 FOOD SERVICES - 31335.53 FIELD TRIPS 532
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6PART VI, SECTION B, LINE 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8PART IX, LINE 24e
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$81,523
Liabilities
$172,278
Net assets
-$90,755
Revenue
$537,626
Expenses
$535,328
Net income
$2,298
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.35$3.58$0.76$8.95$6.67$2.28
2023Detailed filing. Detailed filing data is available for this year.$2.12$3.64$1.52$7.48$7.84$0.36
2022Detailed filing. Detailed filing data is available for this year.$0.73$1.89$1.16$5.75$6.04$0.29
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.62$3.49$0.86$6.14$5.51$0.62
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$2.17$3.65$1.49$4.14$4.72$0.58
2019Detailed filing. Detailed filing data is available for this year.$0.82$1.72$0.91$5.38$5.35$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$1.15$0.93$4.01$4.09$0.08
2017Summary only. Only limited summary data is available for this year.$0.07$0.92$0.85$1.07$0.22
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • $500k-$1M nonprofits