Civic Intelligence

Voyager Foundation Inc

990 • Fiscal year 2017 • EIN 26-1914817

Jul 01, 2016 to Jun 30, 2017 • Filed on Dec 18, 2017

Organization ProfileN/A
101 Hock ParcDurham, NC 27704

(704) 992-0063

Siviq Scores

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

Liabilities / Assets

96th percentile

1.13x

Higher debt load relative to assets than 96% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

12.26x

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

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Net Margin

12th percentile

-13%

Higher net margin than 12% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Asset Growth

22nd percentile

-2.7%

Faster asset growth than 22% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

56th percentile

6.6%

Faster revenue growth than 56% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$21,772,803

Down $614,757 (-2.7%) from 2016

Net Assets

Down

-$2,744,006

Down $260,609 (-10%) from 2016

Liabilities

Down

$24,516,809

Down $354,148 (-1.4%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin12th percentile

Revenue

Up

$1,998,957

Up $124,224 (+6.6%) from 2016

Expenses

Up

$2,259,568

Up $166,548 (+8.0%) from 2016

Net Income

Down

-$260,611

Down $42,324 (-19%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth22nd 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

2017

Assets$21,772,803
Liabilities$24,516,809
Net Assets-$2,744,006
Open 2017 Filing

Operations Trend

Revenue Growth56th 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

2017

Revenue$1,998,957
Expenses$2,259,568
Net Income-$260,611
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Dec 18, 2017
Return Version
2016v3.0
Gross Receipts
$1,998,957
Mission and Program Overview

Mission

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

To benefit, perform the functions of or to carry out the purposes of Voyager Academy, Inc. a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,121,796$18,431,779▼ $690,017
Cash and Non-Interest-Bearing Accounts$28,895$179,465▲ $150,570
Total Assets$22,387,561$21,772,803▼ $614,758
Other Assets Total$3,236,870$3,161,559▼ $75,311
Liabilities
Mortgage Notes Payable Secured by Investment Property$24,846,412$24,516,809▼ $329,603
Accounts Payable and Accrued Expenses$24,546--
Total Liabilities$24,870,958$24,516,809▼ $354,149
Net Assets / Fund Balance
Unrestricted Net Assets$-2,483,397$-2,744,006▼ $260,609
Total Net Assets Fund Balance$-2,483,397$-2,744,006▼ $260,609
Total Liabilities and Net Assets / Fund Balance$22,387,561$21,772,803▼ $614,758

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,983,284$3,855,962$18,839,246
Land$3,286,257-$3,286,257
Equipment$162,238$336,843$499,081
Other Assets Org$3,161,559--
Compensation and Service Providers
Top Officer Pay20th percentile

Board Members and Trustees

NameTitle
Donald DraughonChair
Jeff WhiteMember
Richard FordMember
Stephanie BrennanMember
Tony FernandezMember
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$932
Other Revenue
$1,998,025
Change in Net Assets
$-260,611

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,998,957
Total Revenue per Audited Statements
$1,998,957
Total Revenue per Form 990
$1,998,957
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,259,568
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$1,401,520--$1,401,520
Depreciation Depletion$722,423--$722,423
Other Expenses$80,790--$80,790
Insurance$32,240--$32,240
Fees for Services Accounting$3,025--$3,025
Total Functional Expenses$2,259,568$0$0$2,259,568

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,259,568
Total Expenses per Audited Statements$2,259,568
Total Expenses per Form 990$2,259,568
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-

Bond Issues

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

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
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The board treasurer reviews the 990 and reports to the board of directors prior to filing.”

Filing and Contact Details

Filer

Filer Name
Voyager Foundation Inc
EIN
26-1914817
Phone
7049920063
Address
101 Hock Parc, Durham, NC 27704

Signing Officer

Name
Donald Draughon
Title
Board Chair
Signed
2017-12-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Draughon
Formed
2008
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Rebekah Barr CPA PC
Address
5422 Boswellville Road, Wilson, NC 27893
Preparer
Rebekah Barr
Phone
2522306294
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Rounding adjustment”

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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/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02010-01-29
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
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board treasurer reviews the 990 and reports to the board of directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Rounding adjustment
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part XI, Line 9
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Voyager Academy Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0830449310
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501c3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0School
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt02
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0101 Hock Parc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Durham
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027704
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt01998025
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Amount Paid
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Voyager Academy Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0j
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0true
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt022387561
IRS990/TotalAssetsEOYAmt021772803
IRS990/TotalAssetsGrp/BOYAmt022387561
IRS990/TotalAssetsGrp/EOYAmt021772803
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02259568
IRS990/TotalFunctionalExpensesGrp/TotalAmt02259568
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt024870958
IRS990/TotalLiabilitiesEOYAmt024516809
IRS990/TotalLiabilitiesGrp/BOYAmt024870958
IRS990/TotalLiabilitiesGrp/EOYAmt024516809
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2483397
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2744006
IRS990/TotalProgramServiceExpensesAmt02259568
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01998957
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt022387561
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt021772803
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0true
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2483397
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2744006
IRS990/USAddress/AddressLine1Txt01 Stoneglen Court
IRS990/USAddress/CityNm0Durham
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027712
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Donald Draughon
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-12-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Voyager Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0VOYA
ReturnHeader/Filer/EIN0261914817
ReturnHeader/Filer/PhoneNum07049920063
ReturnHeader/Filer/USAddress/AddressLine1Txt0101 Hock Parc
ReturnHeader/Filer/USAddress/CityNm0Durham
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027704
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId077C0927649F39980818BF74145FC55320A069C6E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId077C0927649F39980818BF74145FC55320A069C6E
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.163.55.236
ReturnHeader/FilingSecurityInformation/IPDt02017-12-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm020:42:52

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,772,803
Liabilities
$24,516,809
Net assets
-$2,744,006
Revenue
$1,998,957
Expenses
$2,259,568
Net income
-$260,611
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
2017Detailed filing. Detailed filing data is available for this year.$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