Civic Intelligence

First Academy Inc

990 • Fiscal year 2020 • EIN 06-1426905

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 16, 2021

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

96th percentile

1.69x

Higher debt load relative to assets than 96% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

94th percentile

0.88x

Higher debt load relative to revenue than 94% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

25th percentile

-14%

Higher net margin than 25% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

93rd percentile

$56,769

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 13.7% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

92nd percentile

166%

Faster asset growth than 92% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

42nd percentile

-23%

Faster revenue growth than 42% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$216,761

Up $135,238 (+166%) from 2019

Net Assets

Down

-$148,724

Down $57,969 (-64%) from 2019

Liabilities

Up

$365,485

Up $193,207 (+112%) from 2019

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin25th percentile

Revenue

Down

$413,978

Down $123,648 (-23%) from 2019

Expenses

Down

$471,947

Down $63,381 (-12%) from 2019

Net Income

Down

-$57,969

Down $60,267 (-2623%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth92nd 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

2020

Assets$216,761
Liabilities$365,485
Net Assets-$148,724
Open 2020 Filing

Operations Trend

Revenue Growth42nd 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

2020

Revenue$413,978
Expenses$471,947
Net Income-$57,969
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 16, 2021
Return Version
2020v4.1
Gross Receipts
$413,978
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
Cash and Non-Interest-Bearing Accounts$22,568$151,913▲ $129,345
Pledges and Grants Receivable$55,560$55,264▼ $296
Prepaid Expenses and Deferred Charges$3,395$8,239▲ $4,844
Savings and Temporary Cash Investments-$1,345-
Rtn Earn Endowment Incm Other Fnds$-90,755$-148,724▼ $57,969
Total Assets$81,523$216,761▲ $135,238
Liabilities
Unsecured Notes Loans Payable$20,026$251,069▲ $231,043
Accounts Payable and Accrued Expenses$152,252$114,416▼ $37,836
Total Liabilities$172,278$365,485▲ $193,207
Net Assets / Fund Balance
Total Net Assets Fund Balance$-90,755$-148,724▼ $57,969
Total Liabilities and Net Assets / Fund Balance$81,523$216,761▲ $135,238
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Evoni DavisSchool DirectorFT$56,769$56,769
Venice EasterlingTreasurer-$5,200$5,200

Board Members and Trustees

NameTitle
Leroy Bailey IiiPresident
Latesha JohnsonVice President
Elijah OliverDirector
Ollie Rubiah OliverDirector
Robin Woodward SmithSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$818
Program Service Revenue
$413,160
Investment Income
$0
Other Revenue
$0
All Other Contributions
$250
Change in Net Assets
$-57,969
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$362,588
Other Expenses$109,359
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$243,804$57,409-$301,213
Payroll Taxes$46,808$5,722-$52,530
Occupancy$27,148$3,016-$30,164
Fees for Services Accounting-$11,122-$11,122
Insurance$6,232$760-$6,992
Fees for Services Other$6,001--$6,001
Interest$5,591--$5,591
Current Officers, Directors, Trustees, and Key Employees-$5,200-$5,200
Office Expenses-$4,319-$4,319
Other Expenses$825$3,927-$3,927
All Other Expenses-$3,783-$3,783
Other Employee Benefits$3,119$526-$3,645
Depreciation Depletion$3,400--$3,400
Fees for Services Legal$2,314--$2,314
Information Technology-$687-$687
Conferences and Meetings$240--$240
Travel$35--$35
Total Functional Expenses$375,326$96,621$0$471,947
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
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
No
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

“Ollie Oliver and Elijah Oliver are husband and wife”

PART VI, SECTION A, LINE 8A

“Secretary records minutes of the board meetings held”

PART VI, SECTION A, LINE 8B

“Committee chair or secretary records minutes of committee meetings held”

Part VI, Section B, Line 11

“Copy of 990 provided prior filing or it is ratified at the following board meeting subsequent to filing”

PART VI, SECTION B, LINE 12C

“Board members are required to disclose any conflicts that arise to the board immediately upon knowledge of such conflicts.”

PART VI, SECTION B, LINE 15A

“The Finance Committee reviews the compensation of the School Director ensuring it is in line with state and national averages.”

Part VI, Section C, Line 19

“Individuals or Organizations can request a copy of the 990 in writing from the Treasurer at 1151 Blue Hills Avenue Bloomfield CT 06002.”

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
2021-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leroy Bailey Iii
Formed
2016
Legal Domicile
Ct
Voting Board Members
6
Independent Board Members
0
Employees
22

Preparer

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

Additional Explanations

PART IX, LINE 11G

“Fees for Nurse and other program development professional”

PART IX, LINE 24E

“payroll processing fees”

Raw XML Appendix385 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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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E - LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Secretary records minutes of the board meetings held
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Committee chair or secretary records minutes of committee meetings held
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Copy of 990 provided prior filing or it is ratified at the following board meeting subsequent to filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Board members are required to disclose any conflicts that arise to the board immediately upon knowledge of such conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The Finance Committee reviews the compensation of the School Director ensuring it is in line with state and national averages.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Individuals or Organizations can request a copy of the 990 in writing from the Treasurer at 1151 Blue Hills Avenue Bloomfield CT 06002.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IX, LINE 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART IX, LINE 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, SECTION A, LINE 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI, SECTION A, LINE 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6PART VI, SECTION B, LINE 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7PART VI, SECTION B, LINE 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8PART VI, SECTION C, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt081523
IRS990/TotalAssetsEOYAmt0216761
IRS990/TotalAssetsGrp/BOYAmt081523
IRS990/TotalAssetsGrp/EOYAmt0216761
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0818
IRS990/TotalEmployeeCnt022
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt096621
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0375326
IRS990/TotalFunctionalExpensesGrp/TotalAmt0471947
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0172278
IRS990/TotalLiabilitiesEOYAmt0365485
IRS990/TotalLiabilitiesGrp/BOYAmt0172278
IRS990/TotalLiabilitiesGrp/EOYAmt0365485
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-90755
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-148724
IRS990/TotalProgramServiceExpensesAmt0375326
IRS990/TotalProgramServiceRevenueAmt0413160
IRS990/TotalReportableCompFromOrgAmt061969
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0413160
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0413978
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt081523
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0216761
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt035
IRS990/TravelGrp/TotalAmt035
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt020026
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0251069
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01151 BLUE HILLS AVENUE
IRS990/USAddress/CityNm0BLOOMFIELD
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006002
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WhistleblowerPolicyInd0true
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0VENICE EASTERLING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08602436520
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRST ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0061426905
ReturnHeader/Filer/PhoneNum08602436520
ReturnHeader/Filer/USAddress/AddressLine1Txt01151 BLUE HILLS AVENUE
ReturnHeader/Filer/USAddress/CityNm0BLOOMFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006002
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0473321543
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THE HARVESTERS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt054 GRANBY STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BLOOMFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006002
ReturnHeader/PreparerPersonGrp/PhoneNum08447577327
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NYANDAH ROBINSON
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-11-16T00:49:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0VENICE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0EASTERLING
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$216,761
Liabilities
$365,485
Net assets
-$148,724
Revenue
$413,978
Expenses
$471,947
Net income
-$57,969
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
2020Detailed filing. Detailed filing data is available for this year.$2.17$3.65$1.49$4.14$4.72$0.58
2019Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$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. 2020 filings • 501(c)3 • <$500k nonprofits