Civic Intelligence

Classical Academies Cfa Inc.

990 • Fiscal year 2020 • EIN 27-1315350

Jul 01, 2019 to Jun 30, 2020 • Filed on Mar 12, 2021

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

68th percentile

0.38x

Higher debt load relative to assets than 68% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

48th percentile

0.13x

Higher debt load relative to revenue than 48% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Net Margin

42nd percentile

1.8%

Higher net margin than 42% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

66th percentile

$100,000

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Asset Growth

80th percentile

44%

Faster asset growth than 80% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

59th percentile

3.0%

Faster revenue growth than 59% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$1,713,689

Up $521,972 (+44%) from 2019

Net Assets

Up

$1,063,122

Up $89,224 (+9.2%) from 2019

Liabilities

Up

$650,567

Up $432,748 (+199%) from 2019

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin42nd percentile

Revenue

Up

$4,977,532

Up $146,704 (+3.0%) from 2019

Expenses

Up

$4,888,308

Up $106,422 (+2.2%) from 2019

Net Income

Up

$89,224

Up $40,282 (+82%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth80th 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

2020

Assets$1,713,689
Liabilities$650,567
Net Assets$1,063,122
Open 2020 Filing

Operations Trend

Revenue Growth59th 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

2020

Revenue$4,977,532
Expenses$4,888,308
Net Income$89,224
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Mar 12, 2021
Return Version
2019v5.1
Gross Receipts
$4,977,532
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$781,971$1,363,278▲ $581,307
Land, Buildings, and Equipment, Net$252,421$247,481▼ $4,940
Savings and Temporary Cash Investments-$47,813-
Prepaid Expenses and Deferred Charges$7,230$29,801▲ $22,571
Accounts Receivable$150,095$25,316▼ $124,779
Total Assets$1,191,717$1,713,689▲ $521,972
Liabilities
Mortgage Notes Payable Secured by Investment Property$-178,702$589,300▲ $768,002
Deferred Revenue$42,577$37,275▼ $5,302
Accounts Payable and Accrued Expenses$353,944$23,992▼ $329,952
Total Liabilities$217,819$650,567▲ $432,748
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$721,477$815,641▲ $94,164
Net Assets With Donor Restrictions$252,421$247,481▼ $4,940
Total Net Assets Fund Balance$973,898$1,063,122▲ $89,224
Total Liabilities and Net Assets / Fund Balance$1,191,717$1,713,689▲ $521,972

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$237,800$7,045$244,845
Equipment$9,681$41,636$51,317
Land$0--
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Thomas KeeverSchool DirectorFT$100,000$100,000
Mitchell McNeelyFinance OfficerFT$65,198$65,198

Board Members and Trustees

NameTitle
Mark HamannChair
Todd MorseVice Chair
Andy BellDirector
Linda TurnerDirector
Michael FriermanDirector
Susan MarcianoDirector
Tim Turner IIDirector
Russ PitsSecretary
Jack BartonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,892,823
Program Service Revenue
$4,494
Investment Income
$0
Other Revenue
$80,215
All Other Contributions
$74,731
Change in Net Assets
$89,224

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,977,397
Total Revenue per Audited Statements
$4,977,397
Total Revenue per Form 990
$4,977,397
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,308,619
Other Expenses$1,579,689
Total Fundraising Expense$14,274
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,216,755$304,336$0$2,521,091
Occupancy$0$619,621$0$619,621
Other Employee Benefits$259,842$41,833$0$301,675
Payroll Taxes$175,077$28,111$0$203,188
Current Officers, Directors, Trustees, and Key Employees$100,000$65,198$0$165,198
Other Expenses$81,812$81,751$0$163,563
Pension Plan Contributions$102,540$14,927$0$117,467
Office Expenses$74,208$18,732$0$92,940
All Other Expenses$18,144$35,257$0$53,401
Insurance$0$38,205$0$38,205
Conferences and Meetings$23,220$0$0$23,220
Fees for Services Accounting$0$16,500$0$16,500
Fees for Services Legal$0$14,644$0$14,644
Advertising$0$5,617$0$5,617
Information Technology$5,615$0$0$5,615
Depreciation Depletion$4,940$0$0$4,940
Travel$1,234$0$0$1,234
Total Functional Expenses$3,312,805$1,561,229$14,274$4,888,308

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,312,805
Total Expenses per Audited Statements$3,312,805
Total Expenses per Form 990$3,312,805
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
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
Doing Business As
Lake Lure Classical Academy

Signing Officer

Name
Mark Hamann
Title
Chair
Phone
8286259292
Signed
2021-03-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Hamann
Formed
2009
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
81
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.”

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IRS990/OtherExpensesGrp/Desc1Textbooks and Supplies
IRS990/OtherExpensesGrp/Desc2Repairs & Maint
IRS990/OtherExpensesGrp/Desc3Non Capital Purchases
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt114274
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0212586
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt122591
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt241320
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt381751
IRS990/OtherExpensesGrp/ProgramServicesAmt0121123
IRS990/OtherExpensesGrp/ProgramServicesAmt1128295
IRS990/OtherExpensesGrp/ProgramServicesAmt20
IRS990/OtherExpensesGrp/ProgramServicesAmt381812
IRS990/OtherExpensesGrp/TotalAmt0333709
IRS990/OtherExpensesGrp/TotalAmt1165160
IRS990/OtherExpensesGrp/TotalAmt241320
IRS990/OtherExpensesGrp/TotalAmt3163563
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0Student Activities
IRS990/OtherRevenueMiscGrp/Desc1Various
IRS990/OtherRevenueMiscGrp/Desc2Fines & Forfeitures
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/ExclusionAmt10
IRS990/OtherRevenueMiscGrp/ExclusionAmt20
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt052486
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt116542
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt211187
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt052486
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt116542
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt211187
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt10
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt20
IRS990/OtherRevenueTotalAmt080215
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0304336
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02216755
IRS990/OtherSalariesAndWagesGrp/TotalAmt02521091
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt028111
IRS990/PayrollTaxesGrp/ProgramServicesAmt0175077
IRS990/PayrollTaxesGrp/TotalAmt0203188
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt014927
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0102540
IRS990/PensionPlanContributionsGrp/TotalAmt0117467
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07230
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt029801
IRS990/PrincipalOfficerNm0Mark Hamann
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Child Care
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04494
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt04728298
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt01622290
IRS990/PYOtherRevenueAmt092943
IRS990/PYProgramServiceRevenueAmt09587
IRS990/PYRevenuesLessExpensesAmt048942
IRS990/PYSalariesCompEmpBnftPaidAmt03159596
IRS990/PYTotalExpensesAmt04781886
IRS990/PYTotalRevenueAmt04830828
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt089224
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt04977397
IRS990/SavingsAndTempCashInvstGrp/EOYAmt047813
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt09681
IRS990ScheduleD/EquipmentGrp/DepreciationAmt041636
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt051317
IRS990ScheduleD/ExpensesSubtotalAmt03312805
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0237800
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07045
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0244845
IRS990ScheduleD/RevenueSubtotalAmt04977397
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0247481
IRS990ScheduleD/TotalExpensesPerForm990Amt03312805
IRS990ScheduleD/TotalRevenuePerForm990Amt04977397
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04977397
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03312805
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/FormAndLineReferenceDesc0Line 3
IRS990/ScheduleJRequiredInd0false
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/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15a
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Lake Lure Community Education Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0453995270
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Lease Real Estate To the school
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0P O Box 12
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Lake Lure
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd028746

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,713,689
Liabilities
$650,567
Net assets
$1,063,122
Revenue
$4,977,532
Expenses
$4,888,308
Net income
$89,224
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