Civic Intelligence

Rocky Mount Academy

990 • Fiscal year 2020 • EIN 23-7005337

Jul 01, 2019 to Jun 30, 2020 • Filed on May 07, 2021

1313 Avondale AvenueRocky Mount, NC 27803

(252) 443-4126

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.41x

Higher debt load relative to assets than 53% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

67th percentile

0.53x

Higher debt load relative to revenue than 67% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Net Margin

20th percentile

-5.7%

Higher net margin than 20% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Asset Growth

15th percentile

-3.4%

Faster asset growth than 15% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2020

Revenue Growth

29th percentile

-5.7%

Faster revenue growth than 29% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2020

Assets

Up

$7,945,381

Up $2,828,953 (+55%) from 2017

Net Assets

Up

$4,688,117

Up $857,356 (+22%) from 2017

Liabilities

Up

$3,257,264

Up $1,971,597 (+153%) from 2017

Revenue

Down

$6,096,066

Down $216,219 (-3.4%) from 2017

Expenses

Up

$6,443,061

Up $587,999 (+10%) from 2017

Net Income

Down

-$346,995

Down $804,218 (-176%) from 2017

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $3,916,938Liabilities 2011: $1,321,010Net Assets 2011: $2,595,9282011Assets 2012: $3,817,473Liabilities 2012: $1,242,089Net Assets 2012: $2,575,3842012Assets 2013: $4,016,043Liabilities 2013: $1,257,608Net Assets 2013: $2,758,4352013Assets 2014: $4,054,791Liabilities 2014: $1,196,839Net Assets 2014: $2,857,9522014Assets 2015: $4,495,920Liabilities 2015: $1,436,627Net Assets 2015: $3,059,2932015Assets 2016: $4,569,076Liabilities 2016: $1,195,538Net Assets 2016: $3,373,5382016Assets 2017: $5,116,428Liabilities 2017: $1,285,667Net Assets 2017: $3,830,7612017Assets 2020: $7,945,381Liabilities 2020: $3,257,264Net Assets 2020: $4,688,1172020Assets 2021: $8,086,918Liabilities 2021: $2,459,752Net Assets 2021: $5,627,1662021Assets 2022: $7,682,754Liabilities 2022: $2,425,130Net Assets 2022: $5,257,6242022

Highlighted filing

2020

Assets$7,945,381
Liabilities$3,257,264
Net Assets$4,688,117

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $4,188,1502011Expenses 2012: $4,889,8652012Expenses 2013: $4,955,2912013Revenue 2014: $5,237,825Expenses 2014: $5,212,530Net Income 2014: $25,2952014Revenue 2015: $5,600,615Expenses 2015: $5,418,511Net Income 2015: $182,1042015Revenue 2016: $5,692,192Expenses 2016: $5,337,011Net Income 2016: $355,1812016Revenue 2017: $6,312,285Expenses 2017: $5,855,062Net Income 2017: $457,2232017Revenue 2020: $6,096,066Expenses 2020: $6,443,061Net Income 2020: -$346,9952020Revenue 2021: $6,840,196Expenses 2021: $6,425,124Net Income 2021: $415,0722021Revenue 2022: $7,236,904Expenses 2022: $7,254,804Net Income 2022: -$17,9002022

Highlighted filing

2020

Revenue$6,096,066
Expenses$6,443,061
Net Income-$346,995
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 7, 2021
Return Version
2019v5.0
Gross Receipts
$6,098,466
Mission and Program Overview

Mission

Rocky mount academy is an independent school with the mission to prepare its students for the challenges, opportunities, and responsibilities that they will encounter in life and college.

Rocky mount academy is an independent school with the mission to prepare it's students for the chanllenges, opportunities and responsibilities that they will encounte in life and college..

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,384,634$5,105,096▼ $279,538
Investments in Publicly Traded Securities$1,714,976$1,743,097▲ $28,121
Savings and Temporary Cash Investments$683,654$524,183▼ $159,471
Cash and Non-Interest-Bearing Accounts$563,677$374,889▼ $188,788
Accounts Receivable$220,244$127,364▼ $92,880
Prepaid Expenses and Deferred Charges$77,087$60,082▼ $17,005
Intangible Assets$12,805$10,670▼ $2,135
Inventories for Sale or Use$6,344--
Total Assets$8,663,421$7,945,381▼ $718,040
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,001,179$1,613,543▼ $387,636
Other Liabilities$1,213,057$1,180,389▼ $32,668
Accounts Payable and Accrued Expenses$506,416$463,332▼ $43,084
Total Liabilities$3,720,652$3,257,264▼ $463,388
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,942,769$4,688,117▼ $254,652
Total Net Assets Fund Balance$4,942,769$4,688,117▼ $254,652
Total Liabilities and Net Assets / Fund Balance$8,663,421$7,945,381▼ $718,040

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,335,752$3,025,834$7,361,586
Other Land Buildings$86,777$237,344$324,121
Land$95,604-$95,604
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$352,532
Program Service Revenue
$5,493,855
Investment Income
$34,695
Other Revenue
$214,984
All Other Contributions
$352,532
Change in Net Assets
$-346,995

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,096,066
Total Revenue per Audited Statements
$6,096,066
Total Revenue per Form 990
$6,096,066
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,877,510
Other Expenses$1,673,624
Grants and Similar Amounts Paid$891,927
Total Fundraising Expense$155,406
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,901,177$198,535$102,470$3,202,182
Grants to Domestic Individuals$891,927--$891,927
Depreciation Depletion$392,752$20,891$4,178$417,821
Occupancy$334,521$39,356$19,678$393,555
Other Employee Benefits$297,273$39,984$10,431$347,688
Payroll Taxes$208,354$28,024$7,311$243,689
All Other Expenses$124,304--$124,304
Pension Plan Contributions$71,778$9,654$2,519$83,951
Office Expenses$70,154$8,254$4,127$82,535
Interest$74,246--$74,246
Insurance$51,973$6,114$3,057$61,144
Other Expenses$44,816--$44,816
Fees for Services Accounting-$14,086$1,635$15,721
Total Functional Expenses$5,922,757$364,898$155,406$6,443,061

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,443,061
Total Expenses per Audited Statements$6,443,061
Total Expenses per Form 990$6,443,061
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$125,630
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$125,630$125,630-$125,630
Total Events$125,630$125,630-$125,630
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Advanced Receipts$819,591
Enrollment Deposits$270,998
Current Portion Lt Debt$80,410
Redeemable Certificates$9,390
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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

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

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

The board of trustees is reminded at each meeting of the conflict of interest policy in order to maintain awareness of the policy and the need to follow it closely.

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

The headmaster's salary is determined by independent trustees who use both performance criteria and comparative salary data for individuals leading similar organizations with similar responsibilities. Performance goals are set by the independent trustees annually and salary adjustments are made based on performance and comparable salaries.

Form 990, Page 6, Part VI, Line 19

The organization's governming documents, conflict of interest policies, and financial information as reported on form 990 are available to interested parties upon request.

Filing and Contact Details

Filer

Filer Name
Rocky Mount Academy
EIN
23-7005337
Phone
2524434126
Address
1313 AVONDALE AVENUE, ROCKY MOUNT, NC 27803

Signing Officer

Name
Patsy Bradley
Title
Finance Officer
Phone
2524434126
Signed
2021-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patsy Bradley
Formed
1968
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
160

Preparer

Firm
Flowers & Stanley Llp
Address
PO BOX 579, TARBORO, NC 27886
Preparer
Michael L Stanley
Phone
2528233125
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

Operation of a private independent school serving around 435 students from pre-k through 12th grade.

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