Civic Intelligence

Hopewell Academy Inc

990 • Fiscal year 2016 • EIN 20-1637115

Jul 01, 2015 to Jun 30, 2016 • Filed on Jul 07, 2017

Organization ProfileWWW.HOPEWELLACADEMY.ORG
101 Preston Executive DriveCary, NC 27513

(919) 481-2123

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.48x

Higher debt load relative to assets than 83% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

69th percentile

0.14x

Higher debt load relative to revenue than 69% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

95th percentile

62%

Higher net margin than 95% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$400

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

15th percentile

-12%

Faster asset growth than 15% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

9th percentile

-38%

Faster revenue growth than 9% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$208,493

Down $27,343 (-12%) from 2015

Net Assets

Up

$108,493

Up $454,507 (+131%) from 2015

Liabilities

Down

$100,000

Down $481,850 (-83%) from 2015

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin95th percentile

Revenue

Down

$731,788

Down $452,374 (-38%) from 2015

Expenses

Down

$277,281

Down $202,343 (-42%) from 2015

Net Income

Down

$454,507

Down $250,031 (-35%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MAssets 2011: $463,639Liabilities 2011: $1,534,384Net Assets 2011: -$1,070,7452011Assets 2012: $559,276Liabilities 2012: $1,555,019Net Assets 2012: -$995,7432012Assets 2013: $703,903Liabilities 2013: $1,638,838Net Assets 2013: -$934,9352013Assets 2014: $332,812Liabilities 2014: $1,383,364Net Assets 2014: -$1,050,5522014Assets 2015: $235,836Liabilities 2015: $581,850Net Assets 2015: -$346,0142015Assets 2016: $208,493Liabilities 2016: $100,000Net Assets 2016: $108,4932016Assets 2017: $334,539Liabilities 2017: $0Net Assets 2017: $334,5392017

Highlighted filing

2016

Assets$208,493
Liabilities$100,000
Net Assets$108,493
Open 2016 Filing

Operations Trend

Revenue Growth9th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $633,923Expenses 2011: $714,978Net Income 2011: -$81,0552011Revenue 2012: $724,786Expenses 2012: $649,784Net Income 2012: $75,0022012Revenue 2013: $719,918Expenses 2013: $659,111Net Income 2013: $60,8072013Revenue 2014: $598,160Expenses 2014: $713,777Net Income 2014: -$115,6172014Revenue 2015: $1,184,162Expenses 2015: $479,624Net Income 2015: $704,5382015Revenue 2016: $731,788Expenses 2016: $277,281Net Income 2016: $454,5072016Revenue 2017: $830,176Expenses 2017: $604,130Net Income 2017: $226,0462017

Highlighted filing

2016

Revenue$731,788
Expenses$277,281
Net Income$454,507
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jul 7, 2017
Return Version
2015v3.0
Gross Receipts
$731,788
Mission and Program Overview

Mission

To provide a challenging and supportive environment for students in grades 6 to 12. Small classes and personalized attention help prepare students with diverse learning styles.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$188,629$177,530▼ $11,099
Loans From Officers Directors$450,000$100,000▼ $350,000
Accounts Receivable$32,130$18,099▼ $14,031
Cash and Non-Interest-Bearing Accounts$5,077$2,864▼ $2,213
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$235,836$208,493▼ $27,343
Other Assets Total$10,000$10,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$131,850--
Total Liabilities$581,850$100,000▼ $481,850
Net Assets / Fund Balance
Unrestricted Net Assets$-347,014$107,493▲ $454,507
Temporarily Rstr Net Assets$1,000$1,000→ $0
Total Net Assets Fund Balance$-346,014$108,493▲ $454,507
Total Liabilities and Net Assets / Fund Balance$235,836$208,493▼ $27,343

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$170,356$33,809$204,165
Equipment$7,174$22,148$29,322
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cecilia M GabrielPresidentFT$400$400

Board Members and Trustees

NameTitle
Kenneth BranchPrincipal
Charles D GabrielSecretary
David McginnisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$351,175
Program Service Revenue
$375,730
Investment Income
$0
Other Revenue
$4,883
All Other Contributions
$351,175
Change in Net Assets
$454,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$188,604
Salaries, Compensation, and Employee Benefits$88,677
Total Fundraising Expense$370
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$131,007--$131,007
Other Salaries and Wages$84,116--$84,116
Depreciation Depletion$11,099--$11,099
Office Expenses$10,748--$10,748
Insurance$8,875--$8,875
Advertising$4,388--$4,388
Payroll Taxes$4,161--$4,161
Current Officers, Directors, Trustees, and Key Employees$400--$400
Other Expenses$226-$370$226
Total Functional Expenses$276,911$0$370$277,281
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,968
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$450,000$100,000▼ $350,000
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 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, Part VI, Line 11B: Form 990 Review Process

“An electronic copy of the form was e-mailed prior to filing of the return.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The conflict of interest policy is actively reviewed at every board meeting. The manner in which any conflicts of inteest are to be handeled is specified within the organizations bylaws.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The organization compares independent school data for the state of nc to officer compensation. The compensation figures are compared to performance evaluations and specific school metrics to evaluate the compensation figures by independent directors. This process is held in a closed session during which parties are excused from attendance so that the matter may be determined objectively.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“See line 15 a description above.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Hopewell Academy Inc
EIN
20-1637115
Phone
9194812123
Address
101 PRESTON EXECUTIVE DRIVE, CARY, NC 27513

Signing Officer

Name
Kenneth Branch
Title
Principal
Signed
2017-07-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Branch
Formed
2004
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
3
Employees
14
Volunteers
5

Preparer

Firm
Mark Judson CPA
Address
4000 WESTCHASE BLVD SUITE 400, RALEIGH, NC 27607
Preparer
Mark Judson
Phone
9199713111
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IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0STATEMENT OF RACIALLY NONDISCRIMINATORY POLICY IS INCLUDED IN SOLICITATION MATERIALS IN ACCORDANCE WITH IRS REVENUE PROCEDURE 75-90.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0100000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0OPERATING EXPENSES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0529413
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0CECILIA CHARLES GABRIEL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTORS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt0100000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AN ELECTRONIC COPY OF THE FORM WAS E-MAILED PRIOR TO FILING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS ACTIVELY REVIEWED AT EVERY BOARD MEETING. THE MANNER IN WHICH ANY CONFLICTS OF INTEEST ARE TO BE HANDELED IS SPECIFIED WITHIN THE ORGANIZATIONS BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION COMPARES INDEPENDENT SCHOOL DATA FOR THE STATE OF NC TO OFFICER COMPENSATION. THE COMPENSATION FIGURES ARE COMPARED TO PERFORMANCE EVALUATIONS AND SPECIFIC SCHOOL METRICS TO EVALUATE THE COMPENSATION FIGURES BY INDEPENDENT DIRECTORS. THIS PROCESS IS HELD IN A CLOSED SESSION DURING WHICH PARTIES ARE EXCUSED FROM ATTENDANCE SO THAT THE MATTER MAY BE DETERMINED OBJECTIVELY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SEE LINE 15 A DESCRIPTION ABOVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01000
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt01000
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0235836
IRS990/TotalAssetsEOYAmt0208493
IRS990/TotalAssetsGrp/BOYAmt0235836
IRS990/TotalAssetsGrp/EOYAmt0208493
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0351175
IRS990/TotalEmployeeCnt014
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0370
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0276911
IRS990/TotalFunctionalExpensesGrp/TotalAmt0277281
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0581850
IRS990/TotalLiabilitiesEOYAmt0100000
IRS990/TotalLiabilitiesGrp/BOYAmt0581850
IRS990/TotalLiabilitiesGrp/EOYAmt0100000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-346014
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0108493
IRS990/TotalProgramServiceExpensesAmt0276911
IRS990/TotalProgramServiceRevenueAmt0375730
IRS990/TotalReportableCompFromOrgAmt0400
IRS990/TotalRevenueGrp/ExclusionAmt03968
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0376645
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0731788
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0235836
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0208493
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-347014
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0107493
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0101 PRESTON EXECUTIVE DRIVE
IRS990/USAddress/CityNm0CARY
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027513
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.HOPEWELLACADEMY.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KENNETH BRANCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRINCIPAL
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-07-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOPEWELL ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0HOPE
ReturnHeader/Filer/EIN0201637115
ReturnHeader/Filer/PhoneNum09194812123
ReturnHeader/Filer/USAddress/AddressLine1Txt0101 PRESTON EXECUTIVE DRIVE
ReturnHeader/Filer/USAddress/CityNm0CARY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027513
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARK JUDSON CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04000 WESTCHASE BLVD SUITE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RALEIGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027607

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$208,493
Liabilities
$100,000
Net assets
$108,493
Revenue
$731,788
Expenses
$277,281
Net income
$454,507
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.83$0.60$0.23
2016Detailed filing. Detailed filing data is available for this year.$0.21$0.10$0.11$0.73$0.28$0.45
2015Summary only. Only limited summary data is available for this year.$0.24$0.58$0.35$1.18$0.48$0.70
2014Summary only. Only limited summary data is available for this year.$0.33$1.38$1.05$0.60$0.71$0.12
2013Summary only. Only limited summary data is available for this year.$0.70$1.64$0.93$0.72$0.66$0.06
2012Summary only. Only limited summary data is available for this year.$0.56$1.56$1.00$0.72$0.65$0.08
2011Summary only. Only limited summary data is available for this year.$0.46$1.53$1.07$0.63$0.71$0.08