Civic Intelligence

Ledyard Charter School of Lebanon

990 • Fiscal year 2022 • EIN 26-0376015

Jul 01, 2021 to Jun 30, 2022 • Filed on May 08, 2023

Organization Profilewww.ledyardcharterschool.net
PO Box 327Lebanon, NH 03766

(603) 448-1634

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.83x

Higher debt load relative to assets than 92% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

92nd percentile

1.86x

Higher debt load relative to revenue than 92% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

21st percentile

-11%

Higher net margin than 21% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

63rd percentile

$87,947

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 13.2% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

54th percentile

2.8%

Faster asset growth than 54% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

23rd percentile

-14%

Faster revenue growth than 23% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$1,489,170

Up $1,451,731 (+3878%) from 2011

Net Assets

Up

$254,030

Up $229,090 (+919%) from 2011

Liabilities

Up

$1,235,140

Up $1,222,641 (+9782%) from 2011

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin21st percentile

Revenue

Up

$665,301

Up $474,124 (+248%) from 2011

Expenses

Up

$735,225

Up $525,453 (+250%) from 2011

Net Income

Down

-$69,924

Down $51,329 (-276%) from 2011

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $54,819Liabilities 2010: $11,284Net Assets 2010: $43,5352010Assets 2011: $37,439Liabilities 2011: $12,499Net Assets 2011: $24,9402011Assets 2022: $1,489,170Liabilities 2022: $1,235,140Net Assets 2022: $254,0302022Assets 2024: $1,626,354Liabilities 2024: $1,190,538Net Assets 2024: $435,8162024

Highlighted filing

2022

Assets$1,489,170
Liabilities$1,235,140
Net Assets$254,030
Open 2022 Filing

Operations Trend

Revenue Growth23rd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2010: $170,541Expenses 2010: $179,179Net Income 2010: -$8,6382010Revenue 2011: $191,177Expenses 2011: $209,772Net Income 2011: -$18,5952011Revenue 2022: $665,301Expenses 2022: $735,225Net Income 2022: -$69,9242022Revenue 2024: $1,016,042Expenses 2024: $852,551Net Income 2024: $163,4912024

Highlighted filing

2022

Revenue$665,301
Expenses$735,225
Net Income-$69,924
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 8, 2023
Return Version
2021v4.2
Gross Receipts
$665,301
Mission and Program Overview

Mission

The mission of Ledyard Charter School is to prepare students for the world by actively engaging them in rigorous and relevant learning within a community of adult metnors. The School incorporates current and best practices and re-inspires reluctatn and disengaged learners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,373,603$1,419,297▲ $45,694
Savings and Temporary Cash Investments$57,075$62,833▲ $5,758
Pledges and Grants Receivable$17,211$7,000▼ $10,211
Cash and Non-Interest-Bearing Accounts$41$40▼ $1
Total Assets$1,447,930$1,489,170▲ $41,240
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,118,881$1,203,978▲ $85,097
Accounts Payable and Accrued Expenses$5,095$31,162▲ $26,067
Total Liabilities$1,123,976$1,235,140▲ $111,164
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$323,954$254,030▼ $69,924
Total Net Assets Fund Balance$323,954$254,030▼ $69,924
Total Liabilities and Net Assets / Fund Balance$1,447,930$1,489,170▲ $41,240

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,394,573$52,530$1,447,103
Equipment$18,437$69,640$88,077
Leasehold Improvements$6,287$134$6,421
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
John HigginsFormer Executive DirectorFT$87,947$87,947
Wendy KozakInterim Executive DirectorFT$59,500$59,500

Board Members and Trustees

NameTitle
Michael HarrisChair
Justin CampbellVice Chair
Bethany SolomonMember
Frank GouldMember
Kim GriffinMember
Liz BaileyMember
Melissa GahertyMember
Lucretia WitteSecretary
Jonathan MaslandTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$664,974
Program Service Revenue
$317
Investment Income
$10
Other Revenue
$0
All Other Contributions
$152,432
Change in Net Assets
$-69,924

Audited Revenue Reconciliation

Revenue per Audited Statements
$665,301
Total Revenue per Audited Statements
$665,301
Total Revenue per Form 990
$665,301
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$461,288
Other Expenses$273,937
Total Fundraising Expense$820
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$255,452--$255,452
Occupancy$144,063--$144,063
Current Officers, Directors, Trustees, and Key Employees$125,968--$125,968
Depreciation Depletion-$42,740-$42,740
Other Employee Benefits$34,641--$34,641
Payroll Taxes$33,868--$33,868
Fees for Services Other-$13,692-$13,692
Pension Plan Contributions$11,359--$11,359
Fees for Services Accounting-$10,681-$10,681
Office Expenses-$9,721-$9,721
Fees for Services Legal-$3,599-$3,599
All Other Expenses$644$2,080$820$3,544
Insurance$1,899--$1,899
Other Expenses$1,500$4,506-$1,500
Conferences and Meetings-$976-$976
Interest-$772-$772
Travel-$179-$179
Total Functional Expenses$645,459$88,946$820$735,225

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$735,225
Total Expenses per Audited Statements$735,225
Total Expenses per Form 990$735,225
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
SBA Payroll Protection Program Loan-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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, Section B, Line 11B

“The schedule 990 is distributed amongst the board for final approval prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The organization maintains a conflict of interst and ethics policy as part of their by laws. Additionally the organization requires all key employees and board members to sign an annual ethics commitment and disclose from. These documents are maintained for future review.”

Form 990, Part VI, Section B, Line 15B

“All compensation for officers and key employees is determined and reviewed by the board during annual budget planning meetings and executive sessions.”

Form 990, Part VI, Section C, Line 19

“The organizations governing documents, conflict of interest policy, and financial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Ledyard Charter School
EIN
26-0376015
Phone
6034481634
Address
PO BOX 327, LEBANON, NH 03766

Signing Officer

Name
Michael Harris
Title
Chair
Phone
6034481634
Signed
2023-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Harris
Formed
2007
Legal Domicile
Nh
Voting Board Members
9
Independent Board Members
9
Employees
11

Preparer

Firm
Rowley & Associates PC
Address
46 N State Street, Concord, NH 03301
Preparer
Eric Rowley CPA
Phone
6032285400
Supplemental Narrative

Financial Statement Notes

X 2

“The School has been notified by the Internal Revenue Service that it is exempt from federal income tax under Section 501c 3 of the Internal Revenue Code. The School is further classified as an organization that is not a private foundation under Section 509a3 of the Code. The most significant tax positions of the School are its assertion that it is exempt from income taxes and its determination of whether any amounts are subject to unrelated business tax UBIT. The School follows guidance of Accounting Standards Codification ASC 740, Accounting for Income Taxes, related to uncertain income taxes, which prescribes a threshold of more likely than not for recognition of tax positions taken or expected to be taken in a tax return. All significant tax positions have been considered by management. It has been determined that it is more likely than not that all tax positions would be sustained upon examination by taxing authorities. Accordingly, no provision for income taxes has been recorded.”

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IRS990ScheduleD/BuildingsGrp/BookValueAmt01394573
IRS990ScheduleD/BuildingsGrp/DepreciationAmt052530
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01447103
IRS990ScheduleD/EquipmentGrp/BookValueAmt018437
IRS990ScheduleD/EquipmentGrp/DepreciationAmt069640
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt088077
IRS990ScheduleD/ExpensesSubtotalAmt0735225
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt06287
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0134
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt06421
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SBA Payroll Protection Program Loan
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt0665301
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School has been notified by the Internal Revenue Service that it is exempt from federal income tax under Section 501c 3 of the Internal Revenue Code. The School is further classified as an organization that is not a private foundation under Section 509a3 of the Code. The most significant tax positions of the School are its assertion that it is exempt from income taxes and its determination of whether any amounts are subject to unrelated business tax UBIT. The School follows guidance of Accounting Standards Codification ASC 740, Accounting for Income Taxes, related to uncertain income taxes, which prescribes a threshold of more likely than not for recognition of tax positions taken or expected to be taken in a tax return. All significant tax positions have been considered by management. It has been determined that it is more likely than not that all tax positions would be sustained upon examination by taxing authorities. Accordingly, no provision for income taxes has been recorded.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0X 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01419297
IRS990ScheduleD/TotalExpensesPerForm990Amt0735225
IRS990ScheduleD/TotalRevenuePerForm990Amt0665301
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0735225
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
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
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The schedule 990 is distributed amongst the board for final approval prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization maintains a conflict of interst and ethics policy as part of their by laws. Additionally the organization requires all key employees and board members to sign an annual ethics commitment and disclose from. These documents are maintained for future review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All compensation for officers and key employees is determined and reviewed by the board during annual budget planning meetings and executive sessions.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organizations governing documents, conflict of interest policy, and financial statements are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01489170
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IRS990/TotalContributionsAmt0664974
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt088946
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0645459
IRS990/TotalFunctionalExpensesGrp/TotalAmt0735225
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01123976
IRS990/TotalLiabilitiesEOYAmt01235140
IRS990/TotalLiabilitiesGrp/BOYAmt01123976
IRS990/TotalLiabilitiesGrp/EOYAmt01235140
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IRS990/TotalProgramServiceExpensesAmt0645459
IRS990/TotalProgramServiceRevenueAmt0317
IRS990/TotalReportableCompFromOrgAmt0147447
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01489170
IRS990/TravelGrp/ManagementAndGeneralAmt0179
IRS990/TravelGrp/TotalAmt0179
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/AddressLine1Txt0PO Box 327
IRS990/USAddress/CityNm0Lebanon
IRS990/USAddress/StateAbbreviationCd0NH
IRS990/USAddress/ZIPCd003766
IRS990/VotingMembersGoverningBodyCnt09
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IRS990/WebsiteAddressTxt0www.ledyardcharterschool.net
IRS990/WhistleblowerPolicyInd0true

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,489,170
Liabilities
$1,235,140
Net assets
$254,030
Revenue
$665,301
Expenses
$735,225
Net income
-$69,924
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.63$1.19$0.44$1.02$0.85$0.16
2022Detailed filing. Detailed filing data is available for this year.$1.49$1.24$0.25$0.67$0.74$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.01$0.02$0.19$0.21$0.02
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.01$0.04$0.17$0.18$0.01