Civic Intelligence

First Academy Inc

990 • Fiscal year 2021 • EIN 06-1426905

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

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

1.33x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

0.57x

Higher debt load relative to revenue than 86% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

46th percentile

10%

Higher net margin than 46% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

65th percentile

$43,615

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 7.1% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

66th percentile

21%

Faster asset growth than 66% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

73rd percentile

48%

Faster revenue growth than 73% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$262,428

Up $45,667 (+21%) from 2020

Net Assets

Up

-$86,453

Up $62,271 (+42%) from 2020

Liabilities

Down

$348,881

Down $16,604 (-4.5%) from 2020

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin46th percentile

Revenue

Up

$613,567

Up $199,589 (+48%) from 2020

Expenses

Up

$551,296

Up $79,349 (+17%) from 2020

Net Income

Up

$62,271

Up $120,240 (+207%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth66th 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

2021

Assets$262,428
Liabilities$348,881
Net Assets-$86,453
Open 2021 Filing

Operations Trend

Revenue Growth73rd 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

2021

Revenue$613,567
Expenses$551,296
Net Income$62,271
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$613,567
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$151,913$199,729▲ $47,816
Pledges and Grants Receivable$55,264$52,818▼ $2,446
Prepaid Expenses and Deferred Charges$8,239$8,906▲ $667
Savings and Temporary Cash Investments$1,345$975▼ $370
Rtn Earn Endowment Incm Other Fnds$-148,724$-86,453▲ $62,271
Total Assets$216,761$262,428▲ $45,667
Liabilities
Unsecured Notes Loans Payable$251,069$161,704▼ $89,365
Accounts Payable and Accrued Expenses$114,416$99,625▼ $14,791
Deferred Revenue-$87,552-
Total Liabilities$365,485$348,881▼ $16,604
Net Assets / Fund Balance
Total Net Assets Fund Balance$-148,724$-86,453▲ $62,271
Total Liabilities and Net Assets / Fund Balance$216,761$262,428▲ $45,667

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$41,814$41,814
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Evoni DavisSchool DirectorFT$43,615$43,615
Venice EasterlingTreasurer-$7,300$7,300
Elith HowardShool DirectorFT$6,923$6,923

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
$190,271
Program Service Revenue
$423,296
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$62,271
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$373,325
Other Expenses$177,971
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$262,668$12,007-$274,675
Current Officers, Directors, Trustees, and Key Employees$35,377$22,461-$57,838
Occupancy$36,245$4,027-$40,272
Payroll Taxes$27,493$3,234-$30,727
Fees for Services Other$25,448--$25,448
Fees for Services Accounting-$14,972-$14,972
Other Employee Benefits$8,572$1,513-$10,085
Insurance$5,160$427-$5,587
Other Expenses$36,655$3,532-$3,532
Interest$1,607$696-$2,303
Information Technology$1,412$157-$1,569
Depreciation Depletion-$1,531-$1,531
Office Expenses-$1,469-$1,469
All Other Expenses$729$490-$1,219
Total Functional Expenses$483,703$67,593$0$551,296
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
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 8A

“Secretary records minutes fo the board meetings held”

PART VI, SECTION A, LINE 8B

“Finance Committee records minutes of meetings held”

Part VI, Section A, Line 2

“Ollie and Elijah Oliver are husband and wife”

Part VI, Section B, Line 11

“A copy of the 990 is provided to the board for review and approval prior to filing or ratified at the following board meeting”

PART VI, SECTION B, LINE 12C

“The Organization has a Conflict of Interest Policy in place that requires the Board Members to sign whether they have a conflict of interest arising or not. Should such conflict arise the Board member is required to inform the governing body of and recuse himself or herself from any decisions that involves the conflict”

PART VI, SECTION B, LINE 15A

“The Governing body review the compensation package for key employees to ensure alignment with industry standards.”

PART VI, SECTION B, LINE 15B

“The Board of Directors is required to review compensation package of key employees. In this case the School Director”

Part VI, Section C, Line 19

“Individuals or Organization may request a copy in writing from The Treasurer at the office”

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
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leroy Bailey Iii
Formed
2016
Legal Domicile
Ct
Voting Board Members
6
Independent Board Members
6
Employees
21

Preparer

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

Additional Explanations

PART IX, LINE 11G

“Contracted classroom Aide 25448”

PART IX, LINE 24E

“Bad Debt 579 Other Business expense 490”

Raw XML Appendix379 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/ExplanationTxt0Contracted classroom Aide 25448
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Bad Debt 579 Other Business expense 490
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Secretary records minutes fo the board meetings held
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Finance Committee records minutes of meetings held
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Ollie and Elijah Oliver are husband and wife
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5A copy of the 990 is provided to the board for review and approval prior to filing or ratified at the following board meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The Organization has a Conflict of Interest Policy in place that requires the Board Members to sign whether they have a conflict of interest arising or not. Should such conflict arise the Board member is required to inform the governing body of and recuse himself or herself from any decisions that involves the conflict
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The Governing body review the compensation package for key employees to ensure alignment with industry standards.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8The Board of Directors is required to review compensation package of key employees. In this case the School Director
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Individuals or Organization may request a copy in writing from The Treasurer at the office
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IX, LINE 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART IX, LINE 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, SECTION A, LINE 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, SECTION A, LINE 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI, SECTION A, LINE 2
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 B, LINE 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9PART VI, SECTION C, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0216761
IRS990/TotalAssetsEOYAmt0262428
IRS990/TotalAssetsGrp/BOYAmt0216761
IRS990/TotalAssetsGrp/EOYAmt0262428
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IRS990/TotalContributionsAmt0190271
IRS990/TotalEmployeeCnt021
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt067593
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0483703
IRS990/TotalFunctionalExpensesGrp/TotalAmt0551296
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0365485
IRS990/TotalLiabilitiesEOYAmt0348881
IRS990/TotalLiabilitiesGrp/BOYAmt0365485
IRS990/TotalLiabilitiesGrp/EOYAmt0348881
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-148724
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-86453
IRS990/TotalProgramServiceExpensesAmt0483703
IRS990/TotalProgramServiceRevenueAmt0423296
IRS990/TotalReportableCompFromOrgAmt057838
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0423296
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0613567
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0216761
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0262428
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0251069
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0161704
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01151 BLUE HILLS AVENUE
IRS990/USAddress/CityNm0BLOOMFIELD
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006002
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0VENICE EASTERLING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08602436520
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
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/PreparationDt02022-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NYANDAH ROBINSON
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-11-16T14:22:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0VENICE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0EASTERLING
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$262,428
Liabilities
$348,881
Net assets
-$86,453
Revenue
$613,567
Expenses
$551,296
Net income
$62,271
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
2021Detailed filing. Detailed filing data is available for this year.$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
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