Civic Intelligence

Voyager Foundation Inc

990 • Fiscal year 2015 • EIN 26-1914817

Jul 01, 2014 to Jun 30, 2015 • Filed on Dec 29, 2015

Organization ProfileN/A
101 Hock ParcDurham, NC 27704-2563

(704) 992-0063

Siviq Scores

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

Liabilities / Assets

95th percentile

1.09x

Higher debt load relative to assets than 95% of similar nonprofits.

2015 filings • NTEE B • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

98th percentile

14.02x

Higher debt load relative to revenue than 98% of similar nonprofits.

2015 filings • NTEE B • $10M-$25M nonprofits • Source year 2015

Net Margin

6th percentile

-33%

Higher net margin than 6% of similar nonprofits.

2015 filings • NTEE B • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2015 filings • NTEE B • $10M-$25M nonprofits • Source year 2015

Asset Growth

55th percentile

3.1%

Faster asset growth than 55% of similar nonprofits.

2015 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

57th percentile

8.4%

Faster revenue growth than 57% of similar nonprofits.

2015 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$23,075,264

Up $691,271 (+3.1%) from 2014

Net Assets

Down

-$2,120,749

Down $737,295 (-53%) from 2014

Liabilities

Up

$25,196,013

Up $1,428,566 (+6.0%) from 2014

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin6th percentile

Revenue

Up

$1,796,918

Up $139,953 (+8.4%) from 2014

Expenses

Up

$2,389,330

Up $405,603 (+20%) from 2014

Net Income

Down

-$592,412

Down $265,650 (-81%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth55th 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

2015

Assets$23,075,264
Liabilities$25,196,013
Net Assets-$2,120,749
Open 2015 Filing

Operations Trend

Revenue Growth57th percentile

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

2015

Revenue$1,796,918
Expenses$2,389,330
Net Income-$592,412
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Dec 29, 2015
Return Version
2014v6.0
Gross Receipts
$1,796,918
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$20,498,953$19,814,010▼ $684,943
Cash and Non-Interest-Bearing Accounts$67,632$25,011▼ $42,621
Total Assets$22,383,993$23,075,264▲ $691,271
Other Assets Total$1,817,408$3,236,243▲ $1,418,835
Liabilities
Tax Exempt Bond Liabilities$15,521,447$24,823,513▲ $9,302,066
Other Liabilities$8,246,000$372,500▼ $7,873,500
Total Liabilities$23,767,447$25,196,013▲ $1,428,566
Net Assets / Fund Balance
Unrestricted Net Assets$-1,383,454$-2,120,749▼ $737,295
Total Net Assets Fund Balance$-1,383,454$-2,120,749▼ $737,295
Total Liabilities and Net Assets / Fund Balance$22,383,993$23,075,264▲ $691,271

Asset Categories

AssetBook ValueDepreciationBasis
Land$3,286,256-$3,286,256
Other Assets Org$3,236,243--
Compensation and Service Providers
Top Officer Pay21st 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
$600
Program Service Revenue
$1,796,318
Investment Income
$0
Other Revenue
$0
All Other Contributions
$600
Change in Net Assets
$-592,412

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,796,918
Total Revenue per Audited Statements
$1,796,918
Total Revenue per Form 990
$1,796,918
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,389,330
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$1,333,441--$1,333,441
Depreciation Depletion$547,334--$547,334
Occupancy$34,696--$34,696
Other Expenses$10,175--$10,175
All Other Expenses$3,112--$3,112
Total Functional Expenses$2,389,330$0$0$2,389,330

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,534,213
Expenses per Audited Statements$2,389,330
Total Expenses per Form 990$2,389,330
Expenses Not Reported on Form 990$144,883
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$372,500

Bond Issues

BondIssuerIssuedIssue PricePurpose
ABond2010-01-29$8,041,000-

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
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

Filer Name
Voyager Foundation Inc
EIN
26-1914817
Address
101 HOCK PARC, DURHAM, NC 27704-2563

Signing Officer

Name
Donald Draughon
Title
Officer
Signed
2015-12-29
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Ladd Mccall & Associates Cpas Pa
Address
PO BOX 527, HUNTERSVILLE, NC 28070
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 -144,883”

Financial Statement Notes

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

“Book / tax depreciation difference 144,883”

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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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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt08041000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0BOND
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdvanceRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CurrentRefundingInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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/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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -144,883
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt015521447
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt024823513
IRS990/TaxExemptBondsInd0true
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt022383993
IRS990/TotalAssetsEOYAmt023075264
IRS990/TotalAssetsGrp/BOYAmt022383993
IRS990/TotalAssetsGrp/EOYAmt023075264
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0600
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02389330
IRS990/TotalFunctionalExpensesGrp/TotalAmt02389330
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt023767447
IRS990/TotalLiabilitiesEOYAmt025196013
IRS990/TotalLiabilitiesGrp/BOYAmt023767447
IRS990/TotalLiabilitiesGrp/EOYAmt025196013
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1383454
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2120749
IRS990/TotalOtherProgSrvcExpenseAmt02389330
IRS990/TotalProgramServiceExpensesAmt02389330
IRS990/TotalProgramServiceRevenueAmt01796318
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01796318
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01796918
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt022383993
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023075264
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1383454
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2120749
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0101 HOCK PARC
IRS990/USAddress/CityNm0DURHAM
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd0277042563
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DONALD DRAUGHON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OFFICER
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-12-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VOYAGER FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0VOYA
ReturnHeader/Filer/EIN0261914817
ReturnHeader/Filer/USAddress/AddressLine1Txt0101 HOCK PARC
ReturnHeader/Filer/USAddress/CityNm0DURHAM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd0277042563
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562226954
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LADD MCCALL & ASSOCIATES CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 527
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HUNTERSVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028070
ReturnHeader/PreparerPersonGrp/PhoneNum07049920061
ReturnHeader/PreparerPersonGrp/PreparationDt02016-01-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KANDI A RANSON
ReturnHeader/ReturnTs02016-01-18T17:18:43-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,075,264
Liabilities
$25,196,013
Net assets
-$2,120,749
Revenue
$1,796,918
Expenses
$2,389,330
Net income
-$592,412
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