Civic Intelligence

Voyager Foundation Inc

990 • Fiscal year 2021 • EIN 26-1914817

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 08, 2021

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

98th percentile

1.43x

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

2021 filings • NTEE B • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

98th percentile

15.18x

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

2021 filings • NTEE B • $10M-$25M nonprofits • Source year 2021

Net Margin

14th percentile

-8.4%

Higher net margin than 14% of similar nonprofits.

2021 filings • NTEE B • $10M-$25M nonprofits • Source year 2021

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.

2021 filings • NTEE B • $10M-$25M nonprofits • Source year 2021

Asset Growth

19th percentile

-0.8%

Faster asset growth than 19% of similar nonprofits.

2021 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

17th percentile

-6.8%

Faster revenue growth than 17% of similar nonprofits.

2021 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$20,018,365

Down $156,996 (-0.8%) from 2020

Net Assets

Down

-$8,526,635

Down $156,996 (-1.9%) from 2020

Liabilities

Flat

$28,545,000

Flat from 2020

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin14th percentile

Revenue

Down

$1,880,012

Down $136,904 (-6.8%) from 2020

Expenses

Down

$2,037,008

Down $5,105,269 (-71%) from 2020

Net Income

Up

-$156,996

Up $4,968,365 (+97%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth19th 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

2021

Assets$20,018,365
Liabilities$28,545,000
Net Assets-$8,526,635
Open 2021 Filing

Operations Trend

Revenue Growth17th 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

2021

Revenue$1,880,012
Expenses$2,037,008
Net Income-$156,996
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 8, 2021
Return Version
2020v4.1
Gross Receipts
$1,880,012
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$17,350,958$16,731,199▼ $619,759
Cash and Non-Interest-Bearing Accounts$473,214$638,862▲ $165,648
Total Assets$20,175,361$20,018,365▼ $156,996
Other Assets Total$2,351,189$2,648,304▲ $297,115
Liabilities
Mortgage Notes Payable Secured by Investment Property$28,545,000$28,545,000→ $0
Total Liabilities$28,545,000$28,545,000→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-8,369,639$-8,526,635▼ $156,996
Total Net Assets Fund Balance$-8,369,639$-8,526,635▼ $156,996
Total Liabilities and Net Assets / Fund Balance$20,175,361$20,018,365▼ $156,996

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,225,565$6,330,838$19,556,403
Land$3,505,634-$3,505,634
Equipment-$499,081$499,081
Other Assets Org$2,648,304--
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Donald DraughonChair
Jaronda IngramMember
Shalondra GreenleeMember
Terri SmithMember
David BoydTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,026
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1,877,986
All Other Contributions
$2,026
Change in Net Assets
$-156,996

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,880,012
Total Revenue per Audited Statements
$1,880,012
Total Revenue per Form 990
$1,880,012
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,037,008
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$1,080,855--$1,080,855
Depreciation Depletion$619,758--$619,758
Other Expenses$200,706--$200,706
Insurance$31,007--$31,007
Total Functional Expenses$2,037,008$0$0$2,037,008

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,037,008
Total Expenses per Audited Statements$2,037,008
Total Expenses per Form 990$2,037,008
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
CBond2020-03-02$28,545,000-
ABond2010-01-29$8,041,000Construction of an Athletic Field Complex for Voyager Academy
BBond2018-12-01$3,000,000Refinance all other bonds issued

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$28,545,000$28,545,000$8,041,000-
B--$3,000,000-
C----

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 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
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
Don Draughon
Title
Board Chair
Phone
7049920063
Signed
2021-11-08
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/TaxExemptBondsIssuesGrp/BondIssuedDt02010-01-29
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt12018-12-01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt22020-03-02
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt08041000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt13000000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt228545000
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt1Bond
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd1false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd2false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0Construction of an Athletic Field Complex for Voyager Academy
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc1Refinance all other bonds issued
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd2false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd2false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd1false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd2false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd0false
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd2false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd1false
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd1true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt02351189
IRS990ScheduleK/TaxExemptBondsProceedsGrp/OtherSpentProceedsAmt028545000
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt08041000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt13000000
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt028545000
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
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0School
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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
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$20,018,365
Liabilities
$28,545,000
Net assets
-$8,526,635
Revenue
$1,880,012
Expenses
$2,037,008
Net income
-$156,996
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
2021Detailed filing. Detailed filing data is available for this year.$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