Civic Intelligence

Kore Academy Inc.

990 • Fiscal year 2017 • EIN 20-1530223

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2018

Organization ProfileWWW.KOREACADEMY.ORG
2228 Lovell CourtLexington, KY 40513

(859) 224-8101

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

54th percentile

5.2%

Higher net margin than 54% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

89th percentile

$40,178

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

66th percentile

14%

Faster asset growth than 66% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

61st percentile

8.5%

Faster revenue growth than 61% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$206,492

Up $24,735 (+14%) from 2016

Net Assets

Up

$206,492

Up $24,735 (+14%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin54th percentile

Revenue

Up

$474,813

Up $37,396 (+8.5%) from 2016

Expenses

Up

$450,078

Up $57,569 (+15%) from 2016

Net Income

Down

$24,735

Down $20,173 (-45%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$300K$200K$100K$0Assets 2011: $51,211Liabilities 2011: $3,027Net Assets 2011: $48,1842011Assets 2012: $117,248Liabilities 2012: $3,574Net Assets 2012: $113,6742012Assets 2013: $140,595Liabilities 2013: $5,216Net Assets 2013: $135,3792013Assets 2014: $134,489Liabilities 2014: $257Net Assets 2014: $134,2322014Assets 2015: $139,160Liabilities 2015: $0Net Assets 2015: $139,1602015Assets 2016: $181,757Liabilities 2016: $0Net Assets 2016: $181,7572016Assets 2017: $206,492Liabilities 2017: $0Net Assets 2017: $206,4922017Assets 2018: $220,652Liabilities 2018: $0Net Assets 2018: $220,6522018Assets 2019: $210,851Liabilities 2019: $0Net Assets 2019: $210,8512019Assets 2020: $256,322Liabilities 2020: $80,900Net Assets 2020: $175,4222020Assets 2021: $260,593Liabilities 2021: $0Net Assets 2021: $260,5932021Assets 2022: $235,383Liabilities 2022: $0Net Assets 2022: $235,3832022Assets 2023: $155,212Liabilities 2023: $0Net Assets 2023: $155,2122023Assets 2024: $105,418Liabilities 2024: $24,955Net Assets 2024: $80,4632024

Highlighted filing

2017

Assets$206,492
Liabilities$0
Net Assets$206,492
Open 2017 Filing

Operations Trend

Revenue Growth61st percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $182,352Expenses 2011: $186,064Net Income 2011: -$3,7122011Revenue 2012: $270,763Expenses 2012: $205,273Net Income 2012: $65,4902012Revenue 2013: $298,803Expenses 2013: $277,097Net Income 2013: $21,7062013Revenue 2014: $317,012Expenses 2014: $318,159Net Income 2014: -$1,1472014Revenue 2015: $384,591Expenses 2015: $379,663Net Income 2015: $4,9282015Revenue 2016: $437,417Expenses 2016: $392,509Net Income 2016: $44,9082016Revenue 2017: $474,813Expenses 2017: $450,078Net Income 2017: $24,7352017Revenue 2018: $445,467Expenses 2018: $431,307Net Income 2018: $14,1602018Revenue 2019: $459,422Expenses 2019: $469,223Net Income 2019: -$9,8012019Revenue 2020: $456,535Expenses 2020: $491,964Net Income 2020: -$35,4292020Revenue 2021: $556,305Expenses 2021: $552,034Net Income 2021: $4,2712021Revenue 2022: $528,882Expenses 2022: $554,092Net Income 2022: -$25,2102022Revenue 2023: $469,534Expenses 2023: $549,705Net Income 2023: -$80,1712023Revenue 2024: $476,512Expenses 2024: $551,261Net Income 2024: -$74,7492024

Highlighted filing

2017

Revenue$474,813
Expenses$450,078
Net Income$24,735
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$476,278
Mission and Program Overview

Mission

Education provided for students in primary and secondary level with various learning disabilities

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$179,345$205,046▲ $25,701
Land, Buildings, and Equipment, Net$2,412$1,446▼ $966
Total Assets$181,757$206,492▲ $24,735
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$181,757$206,492▲ $24,735
Total Net Assets Fund Balance$181,757$206,492▲ $24,735
Total Liabilities and Net Assets / Fund Balance$181,757$206,492▲ $24,735

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$37,459-$37,459
Other Land Buildings$6,634-$6,634
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleBaseTotal
Beverly HendersonDirector$40,178$40,178

Board Members and Trustees

NameTitle
Ali RizwanPresident
Becky BrassCommunity Vo
Vicki HendersonCommunity Vo
Mike CarterOfficer
Bonnie WatkinsSecretary
Debbie MastersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$140,502
Program Service Revenue
$326,673
Investment Income
$0
Other Revenue
$7,638
All Other Contributions
$140,502
Change in Net Assets
$24,735
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$314,980
Other Expenses$135,098
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$250,661--$250,661
Current Officers, Directors, Trustees, and Key Employees$40,178--$40,178
Office Expenses$34,128--$34,128
Payroll Taxes$24,141--$24,141
All Other Expenses$10,491--$10,491
Occupancy$8,634--$8,634
Insurance$6,043--$6,043
Fees for Services Accounting$4,433--$4,433
Other Expenses$3,442--$3,442
Depreciation Depletion$966--$966
Advertising$898--$898
Total Functional Expenses$450,078$0$0$450,078
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$9,103
Fundraising Direct Expenses$1,465
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The return is prepared by an outside accounting firm and reviewed by the treasurer. The return is then provided to the governing body for review and comment prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“Reviewed annually by governing body and compensation adjusted according to performance and tenure.”

Form 990, Page 6, Part VI, Line 15B

“Reviewed annually by governing body and compensation adjusted according to performance and tenure.”

Form 990, Page 6, Part VI, Line 19

“The public may obtain organization documents by submitting a request in writing to the organization's office address or its treasurer.”

Filing and Contact Details

Filer

Filer Name
Kore Academy Inc
EIN
20-1530223
Phone
8592248101
Address
2228 LOVELL COURT, LEXINGTON, KY 40513

Signing Officer

Name
Bonnie Watkins
Title
Secretary
Phone
8592248101
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Beverly Henderson
Formed
2004
Legal Domicile
Ky
Voting Board Members
8
Independent Board Members
8
Employees
18
Volunteers
10

Preparer

Firm
J Scott Dick CPA Pllc
Address
3500 WESTGATE DR STE 900, DURHAM, NC 27707
Preparer
Tony Watkins
Phone
9194895566
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book / tax depreciation difference -1,537 rounding 1,537”

Raw XML Appendix332 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/ExplanationTxt0KORE ACADEMY HAS INCLUDED A STATEMENT OF ITS RACIALLY NON- DISCRIMINATORY POLICY IN THE LOCAL NEWSPAPER AS WELL AS IN ALL BROCHURES AND CATALOGUES DEALING WITH STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED ANNUALLY BY GOVERNING BODY AND COMPENSATION ADJUSTED ACCORDING TO PERFORMANCE AND TENURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED ANNUALLY BY GOVERNING BODY AND COMPENSATION ADJUSTED ACCORDING TO PERFORMANCE AND TENURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PUBLIC MAY OBTAIN ORGANIZATION DOCUMENTS BY SUBMITTING A REQUEST IN WRITING TO THE ORGANIZATION'S OFFICE ADDRESS OR ITS TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -1,537 ROUNDING 1,537
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ReturnHeader/BusinessOfficerGrp/PhoneNum08592248101
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-14
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ReturnHeader/Filer/EIN0201530223
ReturnHeader/Filer/PhoneNum08592248101
ReturnHeader/Filer/USAddress/AddressLine1Txt02228 LOVELL COURT
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ReturnHeader/FilingSecurityInformation/IPTm018:08:33
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0810829071
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0J SCOTT DICK CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03500 WESTGATE DR STE 900
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DURHAM
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TONY WATKINS
ReturnHeader/ReturnTs02018-11-14T19:08:33-05:00
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ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$206,492
Liabilities
$0
Net assets
$206,492
Revenue
$474,813
Expenses
$450,078
Net income
$24,735
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.05$0.25$0.80$4.77$5.51$0.75
2023Summary only. Only limited summary data is available for this year.$1.55$0.00$1.55$4.70$5.50$0.80
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.35$0.00$2.35$5.29$5.54$0.25
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.61$0.00$2.61$5.56$5.52$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.56$0.81$1.75$4.57$4.92$0.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.11$0.00$2.11$4.59$4.69$0.10
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.21$0.00$2.21$4.45$4.31$0.14
2017Detailed filing. Detailed filing data is available for this year.$2.06$0.00$2.06$4.75$4.50$0.25
2016Summary only. Only limited summary data is available for this year.$1.82$0.00$1.82$4.37$3.93$0.45
2015Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$3.85$3.80$0.05
2014Summary only. Only limited summary data is available for this year.$1.34$0.00$1.34$3.17$3.18$0.01
2013Summary only. Only limited summary data is available for this year.$1.41$0.05$1.35$2.99$2.77$0.22
2012Summary only. Only limited summary data is available for this year.$1.17$0.04$1.14$2.71$2.05$0.65
2011Summary only. Only limited summary data is available for this year.$0.51$0.03$0.48$1.82$1.86$0.04