Civic Intelligence

Liberty Preparatory Christian Academy Inc.

990 • Fiscal year 2022 • EIN 26-4201622

Jun 01, 2021 to May 31, 2022 • Filed on Oct 14, 2022

229 Midway Lake RoadMooresville, NC 28115

(704) 660-3933

Siviq Scores

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

Liabilities / Assets

58th percentile

0.44x

Higher debt load relative to assets than 58% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

76th percentile

1.22x

Higher debt load relative to revenue than 76% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Net Margin

85th percentile

33%

Higher net margin than 85% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Asset Growth

68th percentile

12%

Faster asset growth than 68% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

86th percentile

49%

Faster revenue growth than 86% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$11,012,153

Up $1,160,747 (+12%) from 2021

Net Assets

Up

$6,169,728

Up $1,294,333 (+27%) from 2021

Liabilities

Down

$4,842,425

Down $133,586 (-2.7%) from 2021

Revenue

Up

$3,975,637

Up $1,306,418 (+49%) from 2021

Expenses

Up

$2,681,304

Up $530,744 (+25%) from 2021

Net Income

Up

$1,294,333

Up $775,674 (+150%) from 2021

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2012: $584,557Liabilities 2012: $106,868Net Assets 2012: $477,6892012Assets 2013: $740,519Liabilities 2013: $82,912Net Assets 2013: $657,6072013Assets 2014: $819,892Liabilities 2014: $22,896Net Assets 2014: $796,9962014Assets 2015: $948,177Liabilities 2015: $104,388Net Assets 2015: $843,7892015Assets 2017: $1,454,727Liabilities 2017: $46,225Net Assets 2017: $1,408,5022017Assets 2018: $2,127,814Liabilities 2018: $31,445Net Assets 2018: $2,096,3692018Assets 2019: $3,941,888Liabilities 2019: $78,163Net Assets 2019: $3,863,7252019Assets 2020: $4,422,132Liabilities 2020: $65,396Net Assets 2020: $4,356,7362020Assets 2021: $9,851,406Liabilities 2021: $4,976,011Net Assets 2021: $4,875,3952021Assets 2022: $11,012,153Liabilities 2022: $4,842,425Net Assets 2022: $6,169,7282022Assets 2023: $11,528,324Liabilities 2023: $4,620,820Net Assets 2023: $6,907,5042023Assets 2024: $12,049,809Liabilities 2024: $4,435,335Net Assets 2024: $7,614,4742024Assets 2025: $12,421,553Liabilities 2025: $4,129,796Net Assets 2025: $8,291,7572025

Highlighted filing

2022

Assets$11,012,153
Liabilities$4,842,425
Net Assets$6,169,728

Operations Trend

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

$6.0M$4.0M$2.0M$0Expenses 2012: $664,2032012Expenses 2013: $836,9822013Revenue 2014: $1,162,900Expenses 2014: $1,023,511Net Income 2014: $139,3892014Revenue 2015: $1,084,845Expenses 2015: $1,038,052Net Income 2015: $46,7932015Revenue 2017: $1,731,907Expenses 2017: $1,374,441Net Income 2017: $357,4662017Revenue 2018: $2,116,409Expenses 2018: $1,428,542Net Income 2018: $687,8672018Revenue 2019: $3,365,755Expenses 2019: $1,598,399Net Income 2019: $1,767,3562019Revenue 2020: $2,181,274Expenses 2020: $1,688,263Net Income 2020: $493,0112020Revenue 2021: $2,669,219Expenses 2021: $2,150,560Net Income 2021: $518,6592021Revenue 2022: $3,975,637Expenses 2022: $2,681,304Net Income 2022: $1,294,3332022Revenue 2023: $3,785,902Expenses 2023: $3,048,126Net Income 2023: $737,7762023Revenue 2024: $3,953,088Expenses 2024: $3,246,118Net Income 2024: $706,9702024Revenue 2025: $4,630,272Expenses 2025: $3,952,989Net Income 2025: $677,2832025

Highlighted filing

2022

Revenue$3,975,637
Expenses$2,681,304
Net Income$1,294,333
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Oct 14, 2022
Return Version
2021v4.0
Gross Receipts
$3,988,953
Mission and Program Overview

Mission

To inspire students to develop and maintain a strong spiritual foundation based on faith in god's word. To create a balance between classroom teaching and parent mentored study to achieve a college preparatory level of academic excellence. To create an environment of fellowship amount students where character and integrity are sought and honored and to allow ample opportunity for ministry in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,919,274$8,706,988▼ $212,286
Cap Stk Tr Prin Current Funds$4,356,736$4,875,395▲ $518,659
Cash and Non-Interest-Bearing Accounts$818,369$2,150,052▲ $1,331,683
Rtn Earn Endowment Incm Other Fnds$518,659$1,294,333▲ $775,674
Savings and Temporary Cash Investments$89,263$130,613▲ $41,350
Total Assets$9,851,406$11,012,153▲ $1,160,747
Other Assets Total$24,500$24,500→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,392,522$4,777,339▲ $384,817
Other Liabilities$583,489$65,086▼ $518,403
Total Liabilities$4,976,011$4,842,425▼ $133,586
Net Assets / Fund Balance
Total Net Assets Fund Balance$4,875,395$6,169,728▲ $1,294,333
Total Liabilities and Net Assets / Fund Balance$9,851,406$11,012,153▲ $1,160,747

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,087,455$197,295$7,284,750
Other Land Buildings$1,066,469$562,180$1,628,649
Land$535,842-$535,842
Equipment$17,222$73,858$91,080
Compensation and Service Providers

Board Members and Trustees

NameTitle
Doug WeirChairman
Andrew ShottBoard Member
Craig RushingBoard Member
J B WhitfieldBoard Member
Luke HesselsBoard Member
Derek SlocumSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,143,049
Program Service Revenue
$2,770,571
Investment Income
$1,925
Other Revenue
$60,092
All Other Contributions
$1,143,049
Change in Net Assets
$1,294,333
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,351,922
Other Expenses$1,329,382
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,251,414--$1,251,414
Depreciation Depletion$324,909$81,232-$406,141
Interest$210,251--$210,251
Payroll Taxes$100,508--$100,508
Occupancy$55,990$13,998-$69,988
Information Technology$52,620$13,155-$65,775
Office Expenses$48,006$12,002-$60,008
Advertising$27,693$6,923-$34,616
Other Expenses$17,104$4,276-$21,380
Insurance-$21,206-$21,206
Fees for Services Accounting-$7,033-$7,033
All Other Expenses$6,620$30-$6,650
Total Functional Expenses$2,480,905$200,399$0$2,681,304
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,226
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
Payroll Liabilities$23,583
Credit Card Payable$23,233
N/p - Ford Van$9,135
N/p - Ford Van$9,135
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Doug weir amie weir chairman board member husband & wife

Form 990, Page 6, Part VI, Line 11B

The form 990 is distributed to all board members and reviewed before filing.

Form 990, Page 6, Part VI, Line 12C

In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appiont a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall deterine wheter the academy can obtain with reasonable efforts a more advantageous transaction or arrangment from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangment is not reasonably possible under circumstances not producing a conflict of interest; the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the academy's best interest, for its own beneift, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If,after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action. Each director, officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person has received a copy of the interst policy, has read and understands the policy, has agreed to comply with the policy and understands the academy is charitable and in order to maintain its federal tax exeption it must engage in activities which accomplish one or more of its tax-exempt purposes.

Form 990, Page 6, Part VI, Line 19

The organizations governing documents, conflict of interest policy and financial statements are available for review at the school.

Filing and Contact Details

Filer

Filer Name
Liberty Preparatory Christian
EIN
26-4201622
Phone
7046603933
Address
229 MIDWAY LAKE ROAD, MOORESVILLE, NC 28115

Signing Officer

Name
Doug Weir
Title
Chairman
Phone
7046092680
Signed
2022-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug Weir
Formed
2008
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
61
Volunteers
100

Preparer

Firm
Richard W Wood CPA Pa
Address
5950 FAIRVIEW RD STE 600, CHARLOTTE, NC 28210-0086
Preparer
Richard W Wood CPA
Phone
7047591865
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To inspire students to develop and maintain a strong spiritual foundation based on faith in god's word. To create a balance between classroom teaching and parent mentored study to achieve a college preparatory level of academic excellence. To create an environment of fellowship amount students where character and integrity are sought and honored and to allow ample opportunity for ministry in the community.

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

Liberty preparatory christian academy is a college prep school that truly partners with parents to affirm their role as the primary influence in their childrens lives. By using a university-style course schedule in which students are on school campus three days each week (m/tu/th) and complete professional instructor-prepared lessons at home the remaining two days, this effective model provides families with much needed time together. Our goal at liberty prep is not only to provide an academically challenging environment but to also develop students of character. The classical christian style of education teaches students to pursue wisdom, knowledge and understanding, instills in them a love of learning and encourages them to develop their god-given talents and abilities to their fullest potential.

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IRS990/OtherExpensesGrp/ProgramServicesAmt317104
IRS990/OtherExpensesGrp/TotalAmt0202719
IRS990/OtherExpensesGrp/TotalAmt1196843
IRS990/OtherExpensesGrp/TotalAmt226772
IRS990/OtherExpensesGrp/TotalAmt321380
IRS990/OtherLiabilitiesGrp/BOYAmt0583489
IRS990/OtherLiabilitiesGrp/EOYAmt065086
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01251414
IRS990/OtherSalariesAndWagesGrp/TotalAmt01251414
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IRS990/PrincipalOfficerNm0DOUG WEIR
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0TUITION & FEES INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02770571
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02770571
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0765312
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-130195
IRS990/PYOtherExpensesAmt0963414
IRS990/PYOtherRevenueAmt0-68458
IRS990/PYProgramServiceRevenueAmt02102560
IRS990/PYRevenuesLessExpensesAmt0518659
IRS990/PYSalariesCompEmpBnftPaidAmt01181896
IRS990/PYTotalExpensesAmt02150560
IRS990/PYTotalProfFndrsngExpnsAmt05250
IRS990/PYTotalRevenueAmt02669219
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01294333
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt058014
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02770571
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0518659
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01294333
IRS990/SavingsAndTempCashInvstGrp/BOYAmt089263
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0130613
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt07087455
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0197295
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07284750
IRS990ScheduleD/EquipmentGrp/BookValueAmt017222
IRS990ScheduleD/EquipmentGrp/DepreciationAmt073858
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt091080
IRS990ScheduleD/LandGrp/BookValueAmt0535842
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0535842
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01066469
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0562180
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01628649
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt023583
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt123233
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt29135
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt39135
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CREDIT CARD PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2N/P - FORD VAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3N/P - FORD VAN
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08706988
IRS990ScheduleD/TotalLiabilityAmt065086
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0LIBERTY PREPARATORY CHRISTIAN ACADEMY SHALL MAKE NO DISTINCTION IN ITS ADMISSION OR OPERATING POLICIES WITH REGARD TO ANY INDIVIDUAL'S RACE, COLOR, ETHNITICITY, OR NATIONAL ORIGIN, AS THERE CAN BE NO PREFERENTIAL TREATMENT WITH GOD
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO INSPIRE STUDENTS TO DEVELOP AND MAINTAIN A STRONG SPIRITUAL FOUNDATION BASED ON FAITH IN GOD'S WORD. TO CREATE A BALANCE BETWEEN CLASSROOM TEACHING AND PARENT MENTORED STUDY TO ACHIEVE A COLLEGE PREPARATORY LEVEL OF ACADEMIC EXCELLENCE. TO CREATE AN ENVIRONMENT OF FELLOWSHIP AMOUNT STUDENTS WHERE CHARACTER AND INTEGRITY ARE SOUGHT AND HONORED AND TO ALLOW AMPLE OPPORTUNITY FOR MINISTRY IN THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LIBERTY PREPARATORY CHRISTIAN ACADEMY IS A COLLEGE PREP SCHOOL THAT TRULY PARTNERS WITH PARENTS TO AFFIRM THEIR ROLE AS THE PRIMARY INFLUENCE IN THEIR CHILDRENS LIVES. BY USING A UNIVERSITY-STYLE COURSE SCHEDULE IN WHICH STUDENTS ARE ON SCHOOL CAMPUS THREE DAYS EACH WEEK (M/TU/TH) AND COMPLETE PROFESSIONAL INSTRUCTOR-PREPARED LESSONS AT HOME THE REMAINING TWO DAYS, THIS EFFECTIVE MODEL PROVIDES FAMILIES WITH MUCH NEEDED TIME TOGETHER. OUR GOAL AT LIBERTY PREP IS NOT ONLY TO PROVIDE AN ACADEMICALLY CHALLENGING ENVIRONMENT BUT TO ALSO DEVELOP STUDENTS OF CHARACTER. THE CLASSICAL CHRISTIAN STYLE OF EDUCATION TEACHES STUDENTS TO PURSUE WISDOM, KNOWLEDGE AND UNDERSTANDING, INSTILLS IN THEM A LOVE OF LEARNING AND ENCOURAGES THEM TO DEVELOP THEIR GOD-GIVEN TALENTS AND ABILITIES TO THEIR FULLEST POTENTIAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOUG WEIR AMIE WEIR CHAIRMAN BOARD MEMBER HUSBAND & WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS AND REVIEWED BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPIONT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERINE WHETER THE ACADEMY CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST; THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ACADEMY'S BEST INTEREST, FOR ITS OWN BENEIFT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF,AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. EACH DIRECTOR, OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE INTERST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY AND UNDERSTANDS THE ACADEMY IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEPTION IT MUST ENGAGE IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATIONS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE FOR REVIEW AT THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt09851406
IRS990/TotalAssetsEOYAmt011012153
IRS990/TotalAssetsGrp/BOYAmt09851406
IRS990/TotalAssetsGrp/EOYAmt011012153
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01143049
IRS990/TotalEmployeeCnt061
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0200399
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02480905
IRS990/TotalFunctionalExpensesGrp/TotalAmt02681304
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04976011
IRS990/TotalLiabilitiesEOYAmt04842425
IRS990/TotalLiabilitiesGrp/BOYAmt04976011
IRS990/TotalLiabilitiesGrp/EOYAmt04842425
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04875395
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06169728
IRS990/TotalProgramServiceExpensesAmt02480905
IRS990/TotalProgramServiceRevenueAmt02770571
IRS990/TotalRevenueGrp/ExclusionAmt058755
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02772607
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03975637
IRS990/TotalVolunteersCnt0100
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09851406
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011012153
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0124 LIGHTSHIP DRIVE
IRS990/USAddress/CityNm0MOORESVILLE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028117
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.LIBERTYPREPNC.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUG WEIR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07046092680
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-10-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIBERTY PREPARATORY CHRISTIAN
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0LIBE
ReturnHeader/Filer/EIN0264201622
ReturnHeader/Filer/PhoneNum07046603933
ReturnHeader/Filer/USAddress/AddressLine1Txt0229 MIDWAY LAKE ROAD
ReturnHeader/Filer/USAddress/CityNm0MOORESVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028115
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0270428435
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RICHARD W WOOD CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05950 FAIRVIEW RD STE 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0282100086
ReturnHeader/PreparerPersonGrp/PhoneNum07047591865
ReturnHeader/PreparerPersonGrp/PreparationDt02022-10-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD W WOOD CPA
ReturnHeader/ReturnTs02022-10-14T15:44:58-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DOUG
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WEIR
ReturnHeader/TaxPeriodBeginDt02021-06-01
ReturnHeader/TaxPeriodEndDt02022-05-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$4.13$8.29$4.63$3.95$0.68
2024Detailed filing. Detailed filing data is available for this year.$12.0$4.44$7.61$3.95$3.25$0.71
2023Detailed filing. Detailed filing data is available for this year.$11.5$4.62$6.91$3.79$3.05$0.74
2022Detailed filing. Detailed filing data is available for this year.$11.0$4.84$6.17$3.98$2.68$1.29
2021Detailed filing. Detailed filing data is available for this year.$9.85$4.98$4.88$2.67$2.15$0.52
2020Detailed filing. Detailed filing data is available for this year.$4.42$0.07$4.36$2.18$1.69$0.49
2019Detailed filing. Detailed filing data is available for this year.$3.94$0.08$3.86$3.37$1.60$1.77
2018Detailed filing. Detailed filing data is available for this year.$2.13$0.03$2.10$2.12$1.43$0.69
2017Detailed filing. Detailed filing data is available for this year.$1.45$0.05$1.41$1.73$1.37$0.36
2015Detailed filing. Detailed filing data is available for this year.$0.95$0.10$0.84$1.08$1.04$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.82$0.02$0.80$1.16$1.02$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.74$0.08$0.66$0.84
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$0.11$0.48$0.66