Civic Intelligence

Classical Academies Cfa Inc.

990 • Fiscal year 2015 • EIN 27-1315350

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 11, 2016

Organization Profilewww.llca.teamcfa.org
P O Box 6Lake Lure, NC 28746

(828) 625-9292

Siviq Scores

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

Liabilities / Assets

90th percentile

0.93x

Higher debt load relative to assets than 90% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

91st percentile

3.47x

Higher debt load relative to revenue than 91% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

16th percentile

-8.9%

Higher net margin than 16% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

100th percentile

844%

Faster asset growth than 100% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

43rd percentile

1.6%

Faster revenue growth than 43% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$10,919,861

Up $9,763,175 (+844%) from 2014

Net Assets

Down

$753,179

Down $272,584 (-27%) from 2014

Liabilities

Up

$10,166,682

Up $10,035,759 (+7665%) from 2014

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin16th percentile

Revenue

Up

$2,928,005

Up $46,236 (+1.6%) from 2014

Expenses

Up

$3,187,512

Up $713,536 (+29%) from 2014

Net Income

Down

-$259,507

Down $667,300 (-164%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$15M$10M$5.0M$0Assets 2012: $620,296Liabilities 2012: $164,973Net Assets 2012: $455,3232012Assets 2013: $687,216Liabilities 2013: $69,246Net Assets 2013: $617,9702013Assets 2014: $1,156,686Liabilities 2014: $130,923Net Assets 2014: $1,025,7632014Assets 2015: $10,919,861Liabilities 2015: $10,166,682Net Assets 2015: $753,1792015Assets 2016: $9,661,289Liabilities 2016: $9,187,995Net Assets 2016: $473,2942016Assets 2017: $9,450,706Liabilities 2017: $9,209,383Net Assets 2017: $241,3232017Assets 2018: $975,672Liabilities 2018: $51,781Net Assets 2018: $923,8912018Assets 2019: $1,191,717Liabilities 2019: $217,819Net Assets 2019: $973,8982019Assets 2020: $1,713,689Liabilities 2020: $650,567Net Assets 2020: $1,063,1222020Assets 2021: $1,845,129Liabilities 2021: $93,461Net Assets 2021: $1,751,6682021Assets 2022: $2,066,749Liabilities 2022: $264,270Net Assets 2022: $1,802,4792022Assets 2023: $3,096,714Liabilities 2023: $286,376Net Assets 2023: $2,810,3382023Assets 2024: $2,527,313Liabilities 2024: $166,344Net Assets 2024: $2,360,9692024Assets 2025: $2,955,819Liabilities 2025: $600,237Net Assets 2025: $2,355,5822025

Highlighted filing

2015

Assets$10,919,861
Liabilities$10,166,682
Net Assets$753,179
Open 2015 Filing

Operations Trend

Revenue Growth43rd percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2012: $1,886,8362012Expenses 2013: $2,301,6272013Revenue 2014: $2,881,769Expenses 2014: $2,473,976Net Income 2014: $407,7932014Revenue 2015: $2,928,005Expenses 2015: $3,187,512Net Income 2015: -$259,5072015Revenue 2016: $3,256,830Expenses 2016: $3,536,715Net Income 2016: -$279,8852016Revenue 2017: $3,473,271Expenses 2017: $3,705,242Net Income 2017: -$231,9712017Revenue 2018: $5,176,778Expenses 2018: $4,494,210Net Income 2018: $682,5682018Revenue 2019: $4,830,828Expenses 2019: $4,781,886Net Income 2019: $48,9422019Revenue 2020: $4,977,532Expenses 2020: $4,888,308Net Income 2020: $89,2242020Revenue 2021: $6,420,854Expenses 2021: $5,732,308Net Income 2021: $688,5462021Revenue 2022: $6,033,498Expenses 2022: $5,982,687Net Income 2022: $50,8112022Revenue 2023: $6,734,210Expenses 2023: $5,726,351Net Income 2023: $1,007,8592023Revenue 2024: $5,670,976Expenses 2024: $6,120,345Net Income 2024: -$449,3692024Revenue 2025: $6,101,604Expenses 2025: $6,106,991Net Income 2025: -$5,3872025

Highlighted filing

2015

Revenue$2,928,005
Expenses$3,187,512
Net Income-$259,507
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 11, 2016
Return Version
2014v6.0
Gross Receipts
$2,928,005
Mission and Program Overview

Mission

Operate a public charter school to educate children in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$853,393$7,184,541▲ $6,331,148
Cash and Non-Interest-Bearing Accounts$230,831$3,689,086▲ $3,458,255
Accounts Receivable$43,691$36,795▼ $6,896
Prepaid Expenses and Deferred Charges$28,771$9,439▼ $19,332
Total Assets$1,156,686$10,919,861▲ $9,763,175
Liabilities
Mortgage Notes Payable Secured by Investment Property-$8,895,500-
Accounts Payable and Accrued Expenses$4,773$1,256,074▲ $1,251,301
Unsecured Notes Loans Payable$115,000--
Deferred Revenue$24,227$15,108▼ $9,119
Total Liabilities$144,000$10,166,682▲ $10,022,682
Net Assets / Fund Balance
Temporarily Rstr Net Assets$738,393$580,531▼ $157,862
Unrestricted Net Assets$274,293$172,648▼ $101,645
Total Net Assets Fund Balance$1,012,686$753,179▼ $259,507
Total Liabilities and Net Assets / Fund Balance$1,156,686$10,919,861▲ $9,763,175

Asset Categories

AssetBook ValueDepreciationBasis
Land$6,991,042-$6,991,042
Buildings$158,800$20,132$178,932
Equipment$16,394$64,634$81,028
Leasehold Improvements$18,305$7,840$26,145
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Jim ProctorChairman
Mike HarringtonV Chair
Carol PritchettDirector
Gary KlingDirector
Joe MaimoneDirector
Russell PittsDirector
Julia PhillipsSecretary
Chris BraundTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,830,902
Program Service Revenue
$0
Investment Income
$871
Other Revenue
$96,232
All Other Contributions
$52,568
Change in Net Assets
$-259,507

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,928,005
Total Revenue per Audited Statements
$2,928,005
Total Revenue per Form 990
$2,928,005
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,886,838
Other Expenses$1,300,674
Total Fundraising Expense$10,682
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,327,900$157,536$0$1,485,436
Fees for Services Legal$0$267,839$0$267,839
Occupancy$1,830$249,924$0$251,754
Other Employee Benefits$178,179$12,826$0$191,005
Payroll Taxes$126,665$15,797$0$142,462
All Other Expenses$42,511$41,544$0$84,055
Office Expenses$45,564$32,186$0$77,750
Pension Plan Contributions$61,141$6,794$0$67,935
Insurance$0$27,397$0$27,397
Depreciation Depletion$3,000$20,819$0$23,819
Conferences and Meetings$21,739$0$0$21,739
Advertising$0$20,592$0$20,592
Other Expenses$15,534$3,500$0$19,034
Fees for Services Accounting$0$8,200$0$8,200
Information Technology$4,703$0$0$4,703
Interest$0$3,729$0$3,729
Travel$1,869$0$0$1,869
Total Functional Expenses$1,997,080$1,179,750$10,682$3,187,512

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,187,512
Total Expenses per Audited Statements$3,187,512
Total Expenses per Form 990$3,187,512
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Russell PittsOwnerInternet Service ProviderNo$3,315
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority2014-11-06$8,470,000Real Estate Improv
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
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
Filing and Contact Details

Filer

Filer Name
Classical Academies CFA Inc
EIN
27-1315350
Phone
8286259292
Address
P O Box 6, Lake Lure, NC 28746

Signing Officer

Name
Chris Braund
Title
Treasurer
Phone
8286259292
Signed
2016-02-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
C Phillip Byers
Formed
2009
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
63
Volunteers
45

Preparer

Firm
Darrell L Keller CPA PA
Address
PO Box 1028, Kings Mountain, NC 28086
Preparer
Darrell L Keller
Phone
7047390771
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Board reviews 990 prior to filing.”

Pt VI, Line 12C

“Conflict of Interest statements are signed annually.”

Pt VI, Line 15A

“Compared to other charter schools.”

Form 990, Part IX, Line 24F

“Field trips 42511. 42511. 0. 0. Student transportation 40999. 0. 40999. 0. Other 545. 0. 545. 0.”

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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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IRS990/PYTotalRevenueAmt02881769
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-259507
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02928005
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0158800
IRS990ScheduleD/BuildingsGrp/DepreciationAmt020132
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0178932
IRS990ScheduleD/EquipmentGrp/BookValueAmt016394
IRS990ScheduleD/EquipmentGrp/DepreciationAmt064634
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt081028
IRS990ScheduleD/ExpensesSubtotalAmt03187512
IRS990ScheduleD/LandGrp/BookValueAmt06991042
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt06991042
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt018305
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07840
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt026145
IRS990ScheduleD/RevenueSubtotalAmt02928005
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07184541
IRS990ScheduleD/TotalExpensesPerForm990Amt03187512
IRS990ScheduleD/TotalRevenuePerForm990Amt02928005
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02928005
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03187512
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/ExplanationTxt0POLICY IS INCLUDED IN BROCHURES AND MEDIA ADVERTISING N/A
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1N/A
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02014-11-06
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0273866124
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum074442EAS9
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt08470000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0Public Finance Authority
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0Real Estate Improv
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0RUSSELL PITTS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Owner
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt03315
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Internet Service Provider
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board reviews 990 prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Conflict of Interest statements are signed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compared to other charter schools.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FIELD TRIPS 42511. 42511. 0. 0. STUDENT TRANSPORTATION 40999. 0. 40999. 0. OTHER 545. 0. 545. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24f
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0true
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0738393
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0580531
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01156686
IRS990/TotalAssetsEOYAmt010919861
IRS990/TotalAssetsGrp/BOYAmt01156686
IRS990/TotalAssetsGrp/EOYAmt010919861
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02830902
IRS990/TotalEmployeeCnt063
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt010682
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01179750
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01997080
IRS990/TotalFunctionalExpensesGrp/TotalAmt03187512
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0144000
IRS990/TotalLiabilitiesEOYAmt010166682
IRS990/TotalLiabilitiesGrp/BOYAmt0144000
IRS990/TotalLiabilitiesGrp/EOYAmt010166682
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01012686
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0753179
IRS990/TotalProgramServiceExpensesAmt01997080
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt097103
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02928005
IRS990/TotalVolunteersCnt045
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01156686
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010919861
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt01869
IRS990/TravelGrp/TotalAmt01869
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0274293
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0172648
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0115000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0243 McCall Drive
IRS990/USAddress/CityNm0Forest City
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028043
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.llca.teamcfa.org
IRS990/WhistleblowerPolicyInd0true

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$10,919,861
Liabilities
$10,166,682
Net assets
$753,179
Revenue
$2,928,005
Expenses
$3,187,512
Net income
-$259,507
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.96$0.60$2.36$6.10$6.11$0.01
2024Detailed filing. Detailed filing data is available for this year.$2.53$0.17$2.36$5.67$6.12$0.45
2023Detailed filing. Detailed filing data is available for this year.$3.10$0.29$2.81$6.73$5.73$1.01
2022Detailed filing. Detailed filing data is available for this year.$2.07$0.26$1.80$6.03$5.98$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.85$0.09$1.75$6.42$5.73$0.69
2020Detailed filing. Detailed filing data is available for this year.$1.71$0.65$1.06$4.98$4.89$0.09
2019Detailed filing. Detailed filing data is available for this year.$1.19$0.22$0.97$4.83$4.78$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.98$0.05$0.92$5.18$4.49$0.68
2017Detailed filing. Detailed filing data is available for this year.$9.45$9.21$0.24$3.47$3.71$0.23
2016Detailed filing. Detailed filing data is available for this year.$9.66$9.19$0.47$3.26$3.54$0.28
2015Detailed filing. Detailed filing data is available for this year.$10.9$10.2$0.75$2.93$3.19$0.26
2014Detailed filing. Detailed filing data is available for this year.$1.16$0.13$1.03$2.88$2.47$0.41
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.69$0.07$0.62$2.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.62$0.16$0.46$1.89