Civic Intelligence

Bethany Community School Foundation Inc.

990 • Fiscal year 2023 • EIN 26-1606448

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 09, 2023

Organization ProfileN/A
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

69th percentile

0.68x

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

2023 filings • NTEE B • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

6.22x

Higher debt load relative to revenue than 94% of similar nonprofits.

2023 filings • NTEE B • $10M-$25M nonprofits • Source year 2023

Net Margin

96th percentile

79%

Higher net margin than 96% of similar nonprofits.

2023 filings • NTEE B • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2023 filings • NTEE B • $10M-$25M nonprofits • Source year 2023

Asset Growth

78th percentile

29%

Faster asset growth than 78% of similar nonprofits.

2023 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

95th percentile

164%

Faster revenue growth than 95% of similar nonprofits.

2023 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$14,077,674

Up $3,165,054 (+29%) from 2022

Net Assets

Up

$4,552,394

Up $3,650,361 (+405%) from 2022

Liabilities

Down

$9,525,280

Down $485,307 (-4.8%) from 2022

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin96th percentile

Revenue

Up

$1,532,508

Up $952,487 (+164%) from 2022

Expenses

Down

$326,310

Down $200,732 (-38%) from 2022

Net Income

Up

$1,206,198

Up $1,153,219 (+2177%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

2023

Assets$14,077,674
Liabilities$9,525,280
Net Assets$4,552,394
Open 2023 Filing

Operations Trend

Revenue Growth95th percentile

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

2023

Revenue$1,532,508
Expenses$326,310
Net Income$1,206,198
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 9, 2023
Return Version
2022v5.0
Gross Receipts
$1,532,508
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$9,725,410$1,280,219▼ $8,445,191
Savings and Temporary Cash Investments$1,166,915$1,190,908▲ $23,993
Investments in Publicly Traded Securities$7,336--
Accounts Receivable-$2,135-
Prepaid Expenses and Deferred Charges$759$759→ $0
Total Assets$10,912,620$14,077,674▲ $3,165,054
Other Assets Total$12,200$11,603,653▲ $11,591,453
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,549,832$9,402,625▼ $147,207
Deferred Revenue$338,720--
Accounts Payable and Accrued Expenses$240,711$237,956▼ $2,755
Other Liabilities$-118,676$-115,301▲ $3,375
Total Liabilities$10,010,587$9,525,280▼ $485,307
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$658,663$4,221,210▲ $3,562,547
Net Assets With Donor Restrictions$243,370$331,184▲ $87,814
Total Net Assets Fund Balance$902,033$4,552,394▲ $3,650,361
Total Liabilities and Net Assets / Fund Balance$10,912,620$14,077,674▲ $3,165,054

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,103,861-$1,103,861
Other Land Buildings$140,310$23,955$164,265
Buildings$36,048$1,502$37,550
Other Assets Org$200--
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Kevin BergerChairman
Edd HuntDirector
Fred BerryDirector
Pleas McmichaelDirector
Shawn BowersDirector
W Bert BennettDirector
Megan ColemanSecretary
Brad BumgardnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,156,244
Program Service Revenue
$363,499
Investment Income
$12,477
Other Revenue
$288
All Other Contributions
$52,671
Change in Net Assets
$1,206,198

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,532,508
Revenue Not Reported on Form 990
$838
Total Revenue per Audited Statements
$1,533,346
Total Revenue per Form 990
$1,532,508
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$316,603
Grants and Similar Amounts Paid$9,707
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$298,153--$298,153
Fees for Services Accounting-$10,010-$10,010
Grants to Domestic Individuals$9,707--$9,707
Depreciation Depletion$5,608--$5,608
Other Expenses$1,843--$1,843
Occupancy$959--$959
Office Expenses-$30-$30
Total Functional Expenses$316,270$10,040$0$326,310

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$326,310
Total Expenses per Audited Statements$326,310
Total Expenses per Form 990$326,310
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
Unamortized Closing Cost$-115,301
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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
Megan Coleman
Title
Secretary
Phone
3369512169
Signed
2023-11-09

Organization Details

Principal Officer
Megan Coleman
Formed
2007
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
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.”

Financial Statement Notes

Schedule D, Page 4, Part XIII

“Part xi - line 8: as of june 30, 2022, bethany community school foundation inc., implemented fasb asc new accounting standard on leases which required an increase in unrestricted net assets in the amount of 2,443,325.”

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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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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 EXECUTIVE DIRECTOR, 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 SCHOOL IN THE CONDUCT OF ITS EXEMPT PURPOSES.
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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/LandGrp/BookValueAmt01103861
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01103861
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt011603453
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1200
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NET INVESTMENT IN LEASE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSIT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PART XI - LINE 8: AS OF JUNE 30, 2022, BETHANY COMMUNITY SCHOOL FOUNDATION INC., IMPLEMENTED FASB ASC NEW ACCOUNTING STANDARD ON LEASES WHICH REQUIRED AN INCREASE IN UNRESTRICTED NET ASSETS IN THE AMOUNT OF 2,443,325.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XIII
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt09707
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS AND DONATION
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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/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt014077674
IRS990/TotalAssetsGrp/BOYAmt010912620
IRS990/TotalAssetsGrp/EOYAmt014077674
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0316270
IRS990/TotalFunctionalExpensesGrp/TotalAmt0326310
IRS990/TotalGrossUBIAmt00
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt09
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MEGAN COLEMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum03369512169
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-09
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/IRSResponsiblePrtyInfoCurrInd0false
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/PreparationDt02023-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0R REX ROUSE JR CPA
ReturnHeader/ReturnTs02023-11-09T17:41:58-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MEGAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0COLEMAN
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,077,674
Liabilities
$9,525,280
Net assets
$4,552,394
Revenue
$1,532,508
Expenses
$326,310
Net income
$1,206,198
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$13.8$9.08$4.75$0.41$0.31$0.10
2023Detailed filing. Detailed filing data is available for this year.$14.1$9.53$4.55$1.53$0.33$1.21
2022Detailed filing. Detailed filing data is available for this year.$10.9$10.0$0.90$0.58$0.53$0.05
2021Detailed filing. Detailed filing data is available for this year.$11.2$10.4$0.85$0.06$0.01$0.06
2020Detailed filing. Detailed filing data is available for this year.$11.6$10.7$0.91$0.09$0.01$0.09
2019Detailed filing. Detailed filing data is available for this year.$11.8$10.8$1.01$0.21$0.01$0.22
2018Detailed filing. Detailed filing data is available for this year.$12.0$10.8$1.23$0.10$0.01$0.11
2017Detailed filing. Detailed filing data is available for this year.$10.2$8.85$1.34$0.18$0.00$0.18
2016Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.14$0.19$0.00$0.18
2015Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$0.19$0.01$0.18
2014Detailed filing. Detailed filing data is available for this year.$0.78$0.00$0.78$0.19$0.00$0.19
Peer Organizations

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