Civic Intelligence

Classical Academies Cfa Inc.

990 • Fiscal year 2022 • EIN 27-1315350

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 22, 2023

Organization Profilewww.llca.teamcfa.org

View Organization Page

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

39th percentile

0.13x

Higher debt load relative to assets than 39% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

23rd percentile

0.04x

Higher debt load relative to revenue than 23% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Net Margin

33rd percentile

0.8%

Higher net margin than 33% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

37th percentile

$93,216

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Asset Growth

65th percentile

12%

Faster asset growth than 65% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

23rd percentile

-6.0%

Faster revenue growth than 23% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$2,066,749

Up $221,620 (+12%) from 2021

Net Assets

Up

$1,802,479

Up $50,811 (+2.9%) from 2021

Liabilities

Up

$264,270

Up $170,809 (+183%) from 2021

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin33rd percentile

Revenue

Down

$6,033,498

Down $387,356 (-6.0%) from 2021

Expenses

Up

$5,982,687

Up $250,379 (+4.4%) from 2021

Net Income

Down

$50,811

Down $637,735 (-93%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth65th 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

2022

Assets$2,066,749
Liabilities$264,270
Net Assets$1,802,479
Open 2022 Filing

Operations Trend

Revenue Growth23rd 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

2022

Revenue$6,033,498
Expenses$5,982,687
Net Income$50,811
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 22, 2023
Return Version
2021v4.1
Gross Receipts
$6,033,498
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$1,428,365$978,026▼ $450,339
Savings and Temporary Cash Investments$61,629$441,492▲ $379,863
Land, Buildings, and Equipment, Net$285,527$422,825▲ $137,298
Accounts Receivable$63,269$55,655▼ $7,614
Prepaid Expenses and Deferred Charges$6,339$9,830▲ $3,491
Total Assets$1,845,129$2,066,749▲ $221,620
Other Assets Total$0$158,921▲ $158,921
Liabilities
Unsecured Notes Loans Payable-$159,489-
Deferred Revenue$61,629$81,413▲ $19,784
Accounts Payable and Accrued Expenses$31,832$23,368▼ $8,464
Total Liabilities$93,461$264,270▲ $170,809
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,467,461$1,379,654▼ $87,807
Net Assets With Donor Restrictions$284,207$422,825▲ $138,618
Total Net Assets Fund Balance$1,751,668$1,802,479▲ $50,811
Total Liabilities and Net Assets / Fund Balance$1,845,129$2,066,749▲ $221,620

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$305,122$106,854$411,976
Leasehold Improvements$117,703$4,059$121,762
Land$0--
Other Assets Org$158,921--
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Barbara CohenSchool DirectorFT$93,216$93,216
Mitchell McNeelyFinance OfficerFT$65,676$65,676

Board Members and Trustees

NameTitle
Todd MorseChair
Steve MilitoVice Chair
Jack BartonMember
Jackie HamptonMember
Kate SlossMember
Mark HamannMember
Mary KreiderMember
Crystal MorrisonSecretary
Randy NelsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,937,821
Program Service Revenue
$10,409
Investment Income
$0
Other Revenue
$85,268
All Other Contributions
$60,923
Change in Net Assets
$50,811
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,048,814
Other Expenses$1,933,873
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,778,574$349,821$0$3,128,395
Occupancy$0$623,326$0$623,326
Other Employee Benefits$332,650$41,219$0$373,869
Payroll Taxes$224,171$26,923$0$251,094
Office Expenses$60,337$118,803$0$179,140
Current Officers, Directors, Trustees, and Key Employees$158,892$0$0$158,892
Pension Plan Contributions$122,042$14,522$0$136,564
Other Expenses$129,183$0$0$129,183
All Other Expenses$32,664$50,306$0$82,970
Depreciation Depletion$0$74,261$0$74,261
Insurance$0$41,160$0$41,160
Conferences and Meetings$18,349$0$0$18,349
Fees for Services Accounting$0$11,500$0$11,500
Information Technology$4,690$0$0$4,690
Interest$0$4,436$0$4,436
Advertising$0$3,961$0$3,961
Fees for Services Legal$0$1,739$0$1,739
Travel$702$0$0$702
Total Functional Expenses$4,209,232$1,773,455$0$5,982,687
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
2023-04-22
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
210
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/Desc3Non Capital Purchases
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IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0349033
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt124639
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt237806
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30
IRS990/OtherExpensesGrp/ProgramServicesAmt0159888
IRS990/OtherExpensesGrp/ProgramServicesAmt1187090
IRS990/OtherExpensesGrp/ProgramServicesAmt20
IRS990/OtherExpensesGrp/ProgramServicesAmt3129183
IRS990/OtherExpensesGrp/TotalAmt0508921
IRS990/OtherExpensesGrp/TotalAmt1211729
IRS990/OtherExpensesGrp/TotalAmt237806
IRS990/OtherExpensesGrp/TotalAmt3129183
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0Student Activities
IRS990/OtherRevenueMiscGrp/Desc1Insurance Settlement
IRS990/OtherRevenueMiscGrp/Desc2Fines & Forfeitures
IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/ExclusionAmt10
IRS990/OtherRevenueMiscGrp/ExclusionAmt20
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt074060
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt10
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt211208
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt074060
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt10
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt211208
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt10
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt20
IRS990/OtherRevenueTotalAmt085268
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0349821
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02778574
IRS990/OtherSalariesAndWagesGrp/TotalAmt03128395
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt026923
IRS990/PayrollTaxesGrp/ProgramServicesAmt0224171
IRS990/PayrollTaxesGrp/TotalAmt0251094
IRS990/PensionPlanContributionsGrp/FundraisingAmt00
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt014522
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0122042
IRS990/PensionPlanContributionsGrp/TotalAmt0136564
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt06339
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt09830
IRS990/PrincipalOfficerNm0Mark Hamann
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Child Care
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt010409
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt05737507
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt02412270
IRS990/PYOtherRevenueAmt0678087
IRS990/PYProgramServiceRevenueAmt05260
IRS990/PYRevenuesLessExpensesAmt0688546
IRS990/PYSalariesCompEmpBnftPaidAmt03320038
IRS990/PYTotalExpensesAmt05732308
IRS990/PYTotalRevenueAmt06420854
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt050811
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt06033498
IRS990/SavingsAndTempCashInvstGrp/BOYAmt061629
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0441492
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0305122
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0106854
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0411976
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0117703
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt04059
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0121762
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0158921
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Right to use Lease Assets
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0422825
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0158921
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
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,066,749
Liabilities
$264,270
Net assets
$1,802,479
Revenue
$6,033,498
Expenses
$5,982,687
Net income
$50,811
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