Civic Intelligence

Voyager Foundation Inc

990 • Fiscal year 2019 • EIN 26-1914817

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 02, 2020

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

93rd percentile

1.15x

Higher debt load relative to assets than 93% of similar nonprofits.

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

Liabilities / Revenue

97th percentile

10.23x

Higher debt load relative to revenue than 97% of similar nonprofits.

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

Net Margin

17th percentile

-8.3%

Higher net margin than 17% 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.

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

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

Asset Growth

59th percentile

6.1%

Faster asset growth than 59% of similar nonprofits.

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

Revenue Growth

85th percentile

28%

Faster revenue growth than 85% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$22,363,326

Up $1,288,929 (+6.1%) from 2018

Net Assets

Down

-$3,244,278

Down $208,969 (-6.9%) from 2018

Liabilities

Up

$25,607,604

Up $1,497,898 (+6.2%) from 2018

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin17th percentile

Revenue

Up

$2,503,734

Up $541,399 (+28%) from 2018

Expenses

Up

$2,712,703

Up $459,065 (+20%) from 2018

Net Income

Up

-$208,969

Up $82,334 (+28%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth59th 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

2019

Assets$22,363,326
Liabilities$25,607,604
Net Assets-$3,244,278
Open 2019 Filing

Operations Trend

Revenue Growth85th 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

2019

Revenue$2,503,734
Expenses$2,712,703
Net Income-$208,969
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 2, 2020
Return Version
2018v3.1
Gross Receipts
$2,503,734
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$17,961,140$17,988,280▲ $27,140
Cash and Non-Interest-Bearing Accounts$26,876$32,526▲ $5,650
Total Assets$21,074,397$22,363,326▲ $1,288,929
Other Assets Total$3,086,381$4,342,520▲ $1,256,139
Liabilities
Mortgage Notes Payable Secured by Investment Property$24,109,706$25,607,604▲ $1,497,898
Total Liabilities$24,109,706$25,607,604▲ $1,497,898
Net Assets / Fund Balance
Unrestricted Net Assets$-3,035,309$-3,244,278▼ $208,969
Total Net Assets Fund Balance$-3,035,309$-3,244,278▼ $208,969
Total Liabilities and Net Assets / Fund Balance$21,074,397$22,363,326▲ $1,288,929

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,463,004$5,093,399$19,556,403
Land$3,505,634-$3,505,634
Equipment$19,642$479,439$499,081
Other Assets Org$4,342,520--
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Donald DraughonChair
Cindy LoveMember
David BoydMember
Jaronda IngramMember
Terri SmithMember
Revenue and Support

Revenue Composition

Contributions and Grants
$69,055
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$2,434,679
All Other Contributions
$69,055
Change in Net Assets
$-208,969

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,503,734
Total Revenue per Audited Statements
$2,503,734
Total Revenue per Form 990
$2,503,734
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,712,703
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$1,384,526--$1,384,526
Depreciation Depletion$732,987--$732,987
Fees for Services Other$81,309--$81,309
Insurance$34,810--$34,810
Other Expenses$4,087--$4,087
Total Functional Expenses$2,712,703$0$0$2,712,703

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,712,703
Total Expenses per Audited Statements$2,712,703
Total Expenses per Form 990$2,712,703
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$8,041,000Construction of an Athletic Field Complex for Voyager Academy
BBond2018-12-01$3,000,000-

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
Phone
7049920063
Signed
2020-03-02
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
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd1false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02010-01-29
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12018-12-01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt08041000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt13000000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0Bond
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1Bond
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0Construction of an Athletic Field Complex for Voyager Academy
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd1B
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd1false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board treasurer reviews the 990 and reports to the board of directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
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/InvolvedAmt02434679
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cash Paid
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Voyager Academy Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0j
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0true
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt021074397
IRS990/TotalAssetsEOYAmt022363326
IRS990/TotalAssetsGrp/BOYAmt021074397
IRS990/TotalAssetsGrp/EOYAmt022363326
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt069055
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02712703
IRS990/TotalFunctionalExpensesGrp/TotalAmt02712703
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt024109706
IRS990/TotalLiabilitiesEOYAmt025607604
IRS990/TotalLiabilitiesGrp/BOYAmt024109706
IRS990/TotalLiabilitiesGrp/EOYAmt025607604
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-3035309
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3244278
IRS990/TotalProgramServiceExpensesAmt02712703
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02503734
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt021074397
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt022363326
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0true
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,363,326
Liabilities
$25,607,604
Net assets
-$3,244,278
Revenue
$2,503,734
Expenses
$2,712,703
Net income
-$208,969
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
2019Detailed filing. Detailed filing data is available for this year.$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