Civic Intelligence

Bethany Community School Foundation Inc.

990 • Fiscal year 2019 • EIN 26-1606448

Jul 01, 2018 to Jun 30, 2019 • Filed on May 05, 2020

1288 Hudson RoadSummerfield, NC 27358

(336) 951-2169

Siviq Scores

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

Liabilities / Assets

87th percentile

0.91x

Higher debt load relative to assets than 87% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2019

Net Margin

100th percentile

106%

Higher net margin than 100% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Asset Growth

27th percentile

-2.1%

Faster asset growth than 27% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2018 to 2019

Assets

Down

$11,758,129

Down $257,982 (-2.1%) from 2018

Net Assets

Down

$1,005,537

Down $220,252 (-18%) from 2018

Liabilities

Down

$10,752,592

Down $37,730 (-0.3%) from 2018

Revenue

Down

-$207,087

Down $104,238 (-101%) from 2018

Expenses

Up

$12,304

Up $4,461 (+57%) from 2018

Net Income

Down

-$219,391

Down $108,699 (-98%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2014: $775,153Liabilities 2014: $0Net Assets 2014: $775,1532014Assets 2015: $954,673Liabilities 2015: $0Net Assets 2015: $954,6732015Assets 2016: $1,139,807Liabilities 2016: $0Net Assets 2016: $1,139,8072016Assets 2017: $10,189,197Liabilities 2017: $8,853,223Net Assets 2017: $1,335,9742017Assets 2018: $12,016,111Liabilities 2018: $10,790,322Net Assets 2018: $1,225,7892018Assets 2019: $11,758,129Liabilities 2019: $10,752,592Net Assets 2019: $1,005,5372019Assets 2020: $11,573,301Liabilities 2020: $10,661,602Net Assets 2020: $911,6992020Assets 2021: $11,237,448Liabilities 2021: $10,389,674Net Assets 2021: $847,7742021Assets 2022: $10,912,620Liabilities 2022: $10,010,587Net Assets 2022: $902,0332022Assets 2023: $14,077,674Liabilities 2023: $9,525,280Net Assets 2023: $4,552,3942023Assets 2025: $13,829,904Liabilities 2025: $9,084,315Net Assets 2025: $4,745,5892025

Highlighted filing

2019

Assets$11,758,129
Liabilities$10,752,592
Net Assets$1,005,537

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2014: $190,381Expenses 2014: $3,477Net Income 2014: $186,9042014Revenue 2015: $188,208Expenses 2015: $7,578Net Income 2015: $180,6302015Revenue 2016: $186,159Expenses 2016: $1,181Net Income 2016: $184,9782016Revenue 2017: $183,332Expenses 2017: $2,556Net Income 2017: $180,7762017Revenue 2018: -$102,849Expenses 2018: $7,843Net Income 2018: -$110,6922018Revenue 2019: -$207,087Expenses 2019: $12,304Net Income 2019: -$219,3912019Revenue 2020: -$85,100Expenses 2020: $7,020Net Income 2020: -$92,1202020Revenue 2021: -$56,336Expenses 2021: $8,630Net Income 2021: -$64,9662021Revenue 2022: $580,021Expenses 2022: $527,042Net Income 2022: $52,9792022Revenue 2023: $1,532,508Expenses 2023: $326,310Net Income 2023: $1,206,1982023Revenue 2025: $405,685Expenses 2025: $310,236Net Income 2025: $95,4492025

Highlighted filing

2019

Revenue-$207,087
Expenses$12,304
Net Income-$219,391
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 5, 2020
Return Version
2018v3.2
Gross Receipts
$359,699
Mission and Program Overview

Mission

Primary purpose is to acquire and hold education property and other capital assets in support of bethany community school. The funding for the corporation is through fundraising projects, private donations and lease payments to support school facility and program expansion.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,320,286$10,204,294▼ $115,992
Savings and Temporary Cash Investments$1,242,577$1,029,485▼ $213,092
Cash and Non-Interest-Bearing Accounts$76,801$191,878▲ $115,077
Accounts Receivable$61,776$26,003▼ $35,773
Prepaid Expenses and Deferred Charges$14,372$14,372→ $0
Investments in Publicly Traded Securities$7,082$6,362▼ $720
Total Assets$12,016,111$11,758,129▼ $257,982
Other Assets Total$293,217$285,735▼ $7,482
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,831,000$9,831,000→ $0
Deferred Revenue$724,600$674,200▼ $50,400
Accounts Payable and Accrued Expenses$234,722$247,392▲ $12,670
Total Liabilities$10,790,322$10,752,592▼ $37,730
Net Assets / Fund Balance
Unrestricted Net Assets$1,145,647$924,764▼ $220,883
Temporarily Rstr Net Assets$80,142$80,773▲ $631
Total Net Assets Fund Balance$1,225,789$1,005,537▼ $220,252
Total Liabilities and Net Assets / Fund Balance$12,016,111$11,758,129▼ $257,982

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,645,715$362,936$10,008,651
Land$398,307-$398,307
Equipment$123,866$11,134$135,000
Other Land Buildings$36,406$1,473$37,879
Compensation and Service Providers

Board Members and Trustees

NameTitle
Fred BerryPresident
Edd HuntDirector
John MorrisDirector
Kevin BergerDirector
Pleas McmichaelDirector
Megan ColemanSecretary
Brad BaumgardnerTreasurer
W Bert BennettVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$9,299
Other Revenue
$-216,386
Change in Net Assets
$-219,391

Audited Revenue Reconciliation

Revenue per Audited Statements
$-207,087
Revenue Not Reported on Form 990
$565,925
Total Revenue per Audited Statements
$358,838
Total Revenue per Form 990
$-207,087
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,304
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$10,250-$10,250
Office Expenses-$2,054-$2,054
Total Functional Expenses$0$12,304$0$12,304

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$579,090
Expenses Not Reported on Form 990$566,786
Expenses per Audited Statements$12,304
Total Expenses per Form 990$12,304
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
Audit committee
Yes
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
No
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

A copy of this return was made available to the board of directors prior to filing.

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

All officers, agents and employees of bethany community school foundation are required to complete an annual disclosure statement in relation to the organization's conflict of interest policy.

Form 990, Page 6, Part VI, Line 19

Copies of the organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Bethany Community School Foundation
EIN
26-1606448
Phone
3369512169
Address
1288 HUDSON ROAD, SUMMERFIELD, NC 27358

Signing Officer

Name
Fred Berry
Title
President
Phone
3369512169
Signed
2020-05-05

Organization Details

Principal Officer
Fred Berry
Formed
2007
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Rouse Rouse Rouse & Gardner Llp
Address
439 W KINGS HWY, EDEN, NC 27288
Preparer
R Rex Rouse Jr CPA
Phone
3366271323
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Primary purpose is to acquire and hold education property and other capital assets in support of bethany community school. The funding for the corporation is through fundraising projects, private donations and lease payments to support school facility and program expansion.

Form 990, Part XI, Line 9

Program expenses 566,786 program expenses -566,786

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

PROGRAM EXPENSES 566,786

Schedule D, Page 4, Part XII, Line 2D

PROGRAM EXPENSES 566,786

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION'S BOARD OF DIRECTORS WORKS CLOSELY WITH THE SUPPORTED ORGANIZATION'S BOARD OF DIRECTORS TO ENSURE THAT THE ORGANIZATION IS FURTHERING THE EXEMPT PURPOSES OF THE SUPPORTED ORGANIZATION. THE ORGANIZATION UTILIZES A STEERING COMMITTEE, WHICH ACTS ONLY IN AN ADVISORY CAPACITY, CONSISTING OF ONE ORGANIZATION BOARD MEMBER, ONE SUPPORTED ORGANIZATION BOARD MEMBER, AND THE PRINCIPAL OF BETHANY COMMUNITY MIDDLE SCHOOL, AND FOCUSING SOLELY ON FACILITIES FOR BETHANY COMMUNITY SCHOOL.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE ORGANIZATION'S CURRENT PRIMARY ACTIVITY IS RENTING FACILITIES TO ITS SUPPORTING ORGANIZATION, BETHANY COMMUNITY SCHOOL. THESE FACILIITES ARE USED BY BETHANY COMMUNITY MIDDLE SCHOOL IN THE CONDUCT OF ITS EXEMPT PURPOSES. DURING THE YEAR ENDED JUNE 30, 2019, OVER 97% OF THE ORGANIZATION'S GROSS RECEIPTS WERE DERIVED FROM THIS ACTIVITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2HAD THE ORGANIZATION NOT PROVIDED THE FACILITES TO ITS SUPPORTED ORGANIZATION, BETHANY COMMUNITY SCHOOL, THE SUPPORTED ORGANIZATION WOULD HAVE HAD TO SECURE THOSE FACILITES ON ITS OWN.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION D, LINE 2
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 2A
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION E, LINE 2B
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0350400
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0362936
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0123866
IRS990ScheduleD/EquipmentGrp/DepreciationAmt011134
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0135000
IRS990ScheduleD/ExpensesNotReportedAmt0566786
IRS990ScheduleD/ExpensesSubtotalAmt012304
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0398307
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-861
IRS990ScheduleD/OtherExpensesIncludedAmt0566786
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01473
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt037879
IRS990ScheduleD/OtherRevenueAmt0566786
IRS990ScheduleD/RevenueNotReportedAmt0565925
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PROGRAM EXPENSES 566,786
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1PROGRAM EXPENSES 566,786
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalExpensesPerForm990Amt012304
IRS990ScheduleD/TotalRevenuePerForm990Amt0-207087
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRIMARY PURPOSE IS TO ACQUIRE AND HOLD EDUCATION PROPERTY AND OTHER CAPITAL ASSETS IN SUPPORT OF BETHANY COMMUNITY SCHOOL. THE FUNDING FOR THE CORPORATION IS THROUGH FUNDRAISING PROJECTS, PRIVATE DONATIONS AND LEASE PAYMENTS TO SUPPORT SCHOOL FACILITY AND PROGRAM EXPANSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THIS RETURN WAS MADE AVAILABLE TO THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL OFFICERS, AGENTS AND EMPLOYEES OF BETHANY COMMUNITY SCHOOL FOUNDATION ARE REQUIRED TO COMPLETE AN ANNUAL DISCLOSURE STATEMENT IN RELATION TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROGRAM EXPENSES 566,786 PROGRAM EXPENSES -566,786
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt012304
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010790322
IRS990/TotalLiabilitiesEOYAmt010752592
IRS990/TotalLiabilitiesGrp/BOYAmt010790322
IRS990/TotalLiabilitiesGrp/EOYAmt010752592
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IRS990/TotalProgramServiceExpensesAmt0566783
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-207087
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-207087
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012016111
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011758129
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt01145647
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IRS990/UponRequestInd0X
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-06 18:47:13Z
ReturnHeader/BusinessOfficerGrp/PersonNm0FRED BERRY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03369512169
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BETHANY COMMUNITY SCHOOL FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0BETH
ReturnHeader/Filer/EIN0261606448
ReturnHeader/Filer/PhoneNum03369512169
ReturnHeader/Filer/USAddress/AddressLine1Txt01288 HUDSON ROAD
ReturnHeader/Filer/USAddress/CityNm0SUMMERFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027358
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId011A7CCE1E7170E08787D3811B731A1576D790FDB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DC76EC6FE0000EA137F014F12C00730543B36637
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0209.211.48.202
ReturnHeader/FilingSecurityInformation/IPDt02020-05-05
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:29:25
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562070443
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROUSE ROUSE ROUSE & GARDNER LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0439 W KINGS HWY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EDEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027288
ReturnHeader/PreparerPersonGrp/PhoneNum03366271323
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0R REX ROUSE JR CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-05-05T14:29:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

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