Civic Intelligence

Voyager Foundation Inc

990 • Fiscal year 2014 • EIN 26-1914817

Jul 01, 2013 to Jun 30, 2014 • Filed on Jan 05, 2015

Organization ProfileN/A
101 Hock Parc27704-2563

(704) 992-0063

Siviq Scores

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

Liabilities / Assets

94th percentile

1.06x

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

2014 filings • NTEE B • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

99th percentile

14.34x

Higher debt load relative to revenue than 99% of similar nonprofits.

2014 filings • NTEE B • $10M-$25M nonprofits • Source year 2014

Net Margin

10th percentile

-20%

Higher net margin than 10% of similar nonprofits.

2014 filings • NTEE B • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

18th percentile

$0

Higher top officer pay than 18% of similar nonprofits.

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

2014 filings • NTEE B • $10M-$25M nonprofits • Source year 2014

Asset Growth

21st percentile

-2.9%

Faster asset growth than 21% of similar nonprofits.

2014 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$22,383,993

Down $657,503 (-2.9%) from 2013

Net Assets

Down

-$1,383,454

Down $471,124 (-52%) from 2013

Liabilities

Down

$23,767,447

Down $186,379 (-0.8%) from 2013

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin10th percentile

Revenue

$1,656,965

No earlier filing loaded for comparison.

Expenses

Up

$1,983,727

Up $787,603 (+66%) from 2013

Net Income

-$326,762

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$60M$40M$20M$0-$20MAssets 2013: $23,041,496Liabilities 2013: $23,953,826Net Assets 2013: -$912,3302013Assets 2014: $22,383,993Liabilities 2014: $23,767,447Net Assets 2014: -$1,383,4542014Assets 2015: $23,075,264Liabilities 2015: $25,196,013Net Assets 2015: -$2,120,7492015Assets 2016: $22,387,560Liabilities 2016: $24,870,957Net Assets 2016: -$2,483,3972016Assets 2017: $21,772,803Liabilities 2017: $24,516,809Net Assets 2017: -$2,744,0062017Assets 2018: $21,074,397Liabilities 2018: $24,109,706Net Assets 2018: -$3,035,3092018Assets 2019: $22,363,326Liabilities 2019: $25,607,604Net Assets 2019: -$3,244,2782019Assets 2020: $20,175,361Liabilities 2020: $28,545,000Net Assets 2020: -$8,369,6392020Assets 2021: $20,018,365Liabilities 2021: $28,545,000Net Assets 2021: -$8,526,6352021Assets 2022: $19,630,162Liabilities 2022: $28,021,250Net Assets 2022: -$8,391,0882022Assets 2023: $44,703,707Liabilities 2023: $53,642,652Net Assets 2023: -$8,938,9452023

Highlighted filing

2014

Assets$22,383,993
Liabilities$23,767,447
Net Assets-$1,383,454
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0-$5.0M-$10MExpenses 2013: $1,196,1242013Revenue 2014: $1,656,965Expenses 2014: $1,983,727Net Income 2014: -$326,7622014Revenue 2015: $1,796,918Expenses 2015: $2,389,330Net Income 2015: -$592,4122015Revenue 2016: $1,874,733Expenses 2016: $2,093,020Net Income 2016: -$218,2872016Revenue 2017: $1,998,957Expenses 2017: $2,259,568Net Income 2017: -$260,6112017Revenue 2018: $1,962,335Expenses 2018: $2,253,638Net Income 2018: -$291,3032018Revenue 2019: $2,503,734Expenses 2019: $2,712,703Net Income 2019: -$208,9692019Revenue 2020: $2,016,916Expenses 2020: $7,142,277Net Income 2020: -$5,125,3612020Revenue 2021: $1,880,012Expenses 2021: $2,037,008Net Income 2021: -$156,9962021Revenue 2022: $2,013,602Expenses 2022: $1,878,055Net Income 2022: $135,5472022Revenue 2023: $1,943,618Expenses 2023: $2,268,595Net Income 2023: -$324,9772023

Highlighted filing

2014

Revenue$1,656,965
Expenses$1,983,727
Net Income-$326,762
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 5, 2015
Return Version
2013v4.0
Gross Receipts
$1,656,965
Mission and Program Overview

Mission

To benefit, perform the functions of, or carry out the purposes of voyager academy, inc., a public charter school.

The organization was formed for the benefit of, to perform the functions of, or to carry out the purposes of voyager academy, inc. A north carolina non-profit corporation that operates a north carolina public charter school pursuant tot he provisions of north carolina general statutes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,190,130$20,498,953▼ $691,177
Cash and Non-Interest-Bearing Accounts$52,091$67,632▲ $15,541
Total Assets$23,041,495$22,383,993▼ $657,502
Other Assets Total$1,799,274$1,817,408▲ $18,134
Liabilities
Mortgage Notes Payable Secured by Investment Property$23,748,826$15,521,447▼ $8,227,379
Other Liabilities$205,000$8,246,000▲ $8,041,000
Total Liabilities$23,953,826$23,767,447▼ $186,379
Net Assets / Fund Balance
Unrestricted Net Assets$-912,331$-1,383,454▼ $471,123
Total Net Assets Fund Balance$-912,331$-1,383,454▼ $471,123
Total Liabilities and Net Assets / Fund Balance$23,041,495$22,383,993▼ $657,502

Asset Categories

AssetBook ValueDepreciationBasis
Land$3,286,256-$3,286,256
Other Assets Org$1,817,408--
Compensation and Service Providers
Top Officer Pay18th percentile

Board Members and Trustees

NameTitle
5Chairman
Charles WilsonBoard Member
Cindy JonesBoard Member
Jamie ClarkBoard Member
Tom BerryBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$19,408
Program Service Revenue
$1,637,557
Investment Income
$0
Other Revenue
$0
All Other Contributions
$19,408
Change in Net Assets
$-326,762

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,656,965
Total Revenue per Audited Statements
$1,656,965
Total Revenue per Form 990
$1,656,965
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,983,727
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
Interest$1,388,871--$1,388,871
Depreciation Depletion$546,815--$546,815
Occupancy$16,725--$16,725
Fees for Services Accounting$12,400--$12,400
Other Expenses$250--$250
All Other Expenses$77--$77
Total Functional Expenses$1,983,727$0$0$1,983,727

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,128,088
Expenses per Audited Statements$1,983,727
Total Expenses per Form 990$1,983,727
Expenses Not Reported on Form 990$144,361
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
Notes Payable, Current Portion$8,246,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
Yes
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 19

“No documents available to the public”

Filing and Contact Details

Filer

EIN
26-1914817

Signing Officer

Name
Donald Draughon
Title
Officer
Signed
2015-01-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Draughon
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Preparer
Kandi a Ranson
Phone
7049920061
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization was formed for the benefit of, to perform the functions of, or to carry out the purposes of voyager academy, inc. A north carolina non-profit corporation that operates a north carolina public charter school pursuant tot he provisions of north carolina general statutes.”

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

“The organization was formed for the benefit of, to perform the functions of, or to carry out the purposes of voyager academy, inc. A north carolina non-profit corporation that operates a north carolina public charter school pursuant tot he provisions of north carolina general statutes.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference -144,361”

Financial Statement Notes

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

“Book / tax depreciation difference 144,361”

Raw XML Appendix300 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION WAS FORMED FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF VOYAGER ACADEMY, INC. A NORTH CAROLINA NON-PROFIT CORPORATION THAT OPERATES A NORTH CAROLINA PUBLIC CHARTER SCHOOL PURSUANT TOT HE PROVISIONS OF NORTH CAROLINA GENERAL STATUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
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IRS990/TotalProgramServiceRevenueAmt01637557
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IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1383454
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10101 HOCK PARC
IRS990/USAddress/City0DURHAM
IRS990/USAddress/State0NC
IRS990/USAddress/ZIPCode0277042563
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD DRAUGHON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OFFICER
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-01-05
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ReturnHeader/Filer/USAddress/AddressLine10101 HOCK PARC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10PO BOX 527
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0HUNTERSVILLE
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ReturnHeader/PreparerPersonGrp/PhoneNum07049920061
ReturnHeader/PreparerPersonGrp/PreparationDt02015-01-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KANDI A RANSON
ReturnHeader/ReturnTs02015-02-25T12:25:34-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,383,993
Liabilities
$23,767,447
Net assets
-$1,383,454
Revenue
$1,656,965
Expenses
$1,983,727
Net income
-$326,762
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.7$53.6$8.94$1.94$2.27$0.32
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.6$28.0$8.39$2.01$1.88$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.0$28.5$8.53$1.88$2.04$0.16
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.2$28.5$8.37$2.02$7.14$5.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.4$25.6$3.24$2.50$2.71$0.21
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.1$24.1$3.04$1.96$2.25$0.29
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.8$24.5$2.74$2.00$2.26$0.26
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.4$24.9$2.48$1.87$2.09$0.22
2015Detailed filing. Detailed filing data is available for this year.$23.1$25.2$2.12$1.80$2.39$0.59
2014Detailed filing. Detailed filing data is available for this year.$22.4$23.8$1.38$1.66$1.98$0.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.0$24.0$0.91$1.20