Civic Intelligence

Hope Creek Academy Inc.

990 • Fiscal year 2018 • EIN 27-2670276

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 26, 2018

Organization Profilewww.HopeCreekAcademy.org
PO Box 3523Chapel Hill, NC 27515

(919) 932-0360

Siviq Scores

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

Liabilities / Assets

38th percentile

0.04x

Higher debt load relative to assets than 38% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

45th percentile

0.07x

Higher debt load relative to revenue than 45% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Net Margin

71st percentile

14%

Higher net margin than 71% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$62,906

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Asset Growth

65th percentile

9.8%

Faster asset growth than 65% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

82nd percentile

33%

Faster revenue growth than 82% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$2,399,815

Up $242,424 (+11%) from 2016

Net Assets

Up

$2,295,497

Up $250,446 (+12%) from 2016

Liabilities

Down

$104,318

Down $8,022 (-7.1%) from 2016

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin71st percentile

Revenue

Down

$1,484,433

Down $1,739,987 (-54%) from 2016

Expenses

Up

$1,269,713

Up $176,140 (+16%) from 2016

Net Income

Down

$214,720

Down $1,916,127 (-90%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $25,483Net Assets 2011: $25,4832011Assets 2012: $18,926Liabilities 2012: $0Net Assets 2012: $18,9262012Assets 2014: $152,120Liabilities 2014: $4,287Net Assets 2014: $147,8332014Assets 2016: $2,157,391Liabilities 2016: $112,340Net Assets 2016: $2,045,0512016Assets 2018: $2,399,815Liabilities 2018: $104,318Net Assets 2018: $2,295,4972018Assets 2019: $2,412,388Liabilities 2019: $83,011Net Assets 2019: $2,329,3772019Assets 2020: $2,632,072Liabilities 2020: $284,357Net Assets 2020: $2,347,7152020Assets 2021: $2,681,942Liabilities 2021: $49,655Net Assets 2021: $2,632,2872021Assets 2022: $2,464,873Liabilities 2022: $282,697Net Assets 2022: $2,182,1762022

Highlighted filing

2018

Assets$2,399,815
Liabilities$104,318
Net Assets$2,295,497
Open 2018 Filing

Operations Trend

Revenue Growth82nd percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $197,888Expenses 2011: $178,308Net Income 2011: $19,5802011Expenses 2012: $266,3582012Revenue 2014: $609,773Expenses 2014: $481,326Net Income 2014: $128,4472014Revenue 2016: $3,224,420Expenses 2016: $1,093,573Net Income 2016: $2,130,8472016Revenue 2018: $1,484,433Expenses 2018: $1,269,713Net Income 2018: $214,7202018Revenue 2019: $1,438,203Expenses 2019: $1,404,322Net Income 2019: $33,8812019Revenue 2020: $1,398,556Expenses 2020: $1,380,218Net Income 2020: $18,3382020Revenue 2021: $1,530,741Expenses 2021: $1,246,169Net Income 2021: $284,5722021Revenue 2022: $1,216,239Expenses 2022: $1,666,350Net Income 2022: -$450,1112022

Highlighted filing

2018

Revenue$1,484,433
Expenses$1,269,713
Net Income$214,720
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 26, 2018
Return Version
2017v2.3
Gross Receipts
$1,484,433
Mission and Program Overview

Mission

We are a private school, K-12, geared to children who need structure, consistency, positive reinforcement, more movement, reduced stress, both remediation and challenge along with a multi-sensory way of learning. Students receive direct small group and/or individual instruction in reading, math, language arts, social studies, science, art, music and drama.

We are a private school, K-12, geared to children who need structure, consistency, positive reinforcement, more movement, reduced stress, both remediation and challenge along with a multi-sensory way of learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,979,145$2,035,039▲ $55,894
Cash and Non-Interest-Bearing Accounts$77,294$195,110▲ $117,816
Savings and Temporary Cash Investments$71,309$109,648▲ $38,339
Accounts Receivable$520$1,593▲ $1,073
Total Assets$2,186,392$2,399,815▲ $213,423
Other Assets Total$58,124$58,425▲ $301
Liabilities
Deferred Revenue$105,614$104,318▼ $1,296
Total Liabilities$105,614$104,318▼ $1,296
Net Assets / Fund Balance
Unrestricted Net Assets$2,080,778$2,295,497▲ $214,719
Total Net Assets Fund Balance$2,080,778$2,295,497▲ $214,719
Total Liabilities and Net Assets / Fund Balance$2,186,392$2,399,815▲ $213,423

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,445,318$100,474$1,545,792
Land$567,250-$567,250
Equipment$22,471$12,407$38,001
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Linda McDonoughExec DirectorFT$62,906$62,906

Board Members and Trustees

NameTitle
Sharon UpdikeChair
Frank FloydMember
Jenny CohenMember
Kathryn AbbottMember
Marion HouserMember
Suzanne RameyMember
Varnell McDonald-FletcherMember
Jonathan TaylorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$273,525
Program Service Revenue
$1,209,754
Investment Income
$1,154
Other Revenue
$0
All Other Contributions
$138,691
Change in Net Assets
$214,720

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial1$90,000appraisal
Total Noncash Contributions1$90,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$902,247
Other Expenses$217,486
Grants and Similar Amounts Paid$149,980
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$731,645$32,353-$763,998
Grants to Domestic Individuals$149,980--$149,980
Other Employee Benefits$73,666$3,069-$76,735
Occupancy$65,975--$65,975
Payroll Taxes$59,053$2,461-$61,514
Depreciation Depletion$45,187$2,261-$47,448
Fees for Services Other$32,863$2,275-$35,138
Office Expenses-$12,260-$12,260
Conferences and Meetings$6,209--$6,209
Insurance$3,758--$3,758
Advertising$99--$99
Other Expenses$-59--$-59
Total Functional Expenses$1,215,034$54,679$0$1,269,713
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The independent CPA firm prepares the Form 990. The school director and the Board treasurer review the form. Upon their approval, the Form 990 is filed with the IRS. A copy of the Form 990 is available to all board members upon request.”

Form 990, Part VI, Section B, Line 12C

“At the first board meeting of the school year each member completes a Conflict of Interest Policy Disclosure Form.”

Form 990, Part VI, Section B, Line 15A

“The Board conducted research into salaries of executive directors and teachers at similar institutions and used the information gathered to set the salaries of the schools employees.”

Form 990, Part VI, Section C, Line 19

“Governing documents are available upon request at the organizations office.”

Filing and Contact Details

Filer

Filer Name
Hope Creek Academy Inc
EIN
27-2670276
Phone
9199320360
Address
PO BOX 3523, CHAPEL HILL, NC 27515

Signing Officer

Name
Linda Ree Mcdonough
Title
Director
Signed
2018-11-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Ree McDonough
Formed
2010
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
8
Employees
25
Volunteers
4

Preparer

Firm
Lawson Travers CPA PLLC
Address
613 Aberdeen Drive, Chapel Hill, NC 27516
Preparer
Lawson A Travers
Phone
9199602794
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Rounding Difference”

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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/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01210908
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt071309
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0109648
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt01445318
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0100474
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01545792
IRS990ScheduleD/EquipmentGrp/BookValueAmt022471
IRS990ScheduleD/EquipmentGrp/DepreciationAmt012407
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt07550
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt038001
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0567250
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0567250
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02035039
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0These are grants from the NCSEAA State Education Assistance Authority - the Children with Disabilities Grant. Parents of students with current IEPs that determine their eligibility apply for these grants of up to 4,000 per semester which can be put towards private school tuition.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0129200
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt120780
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Tuition Assistance for Students Attending Hope Creek Academy
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1Staff Tuition Discount for Hope Creek Students Whose Parents are Teachers at Hope Creek Academy
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt017
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt12
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/Form8283ReceivedCnt01
IRS990ScheduleM/RealEstateCommercialGrp/ContributionCnt01
IRS990ScheduleM/RealEstateCommercialGrp/MethodOfDeterminingRevenuesTxt0appraisal
IRS990ScheduleM/RealEstateCommercialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateCommercialGrp/NoncashContributionsRptF990Amt090000
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The independent CPA firm prepares the Form 990. The school director and the Board treasurer review the form. Upon their approval, the Form 990 is filed with the IRS. A copy of the Form 990 is available to all board members upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1At the first board meeting of the school year each member completes a Conflict of Interest Policy Disclosure Form.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board conducted research into salaries of executive directors and teachers at similar institutions and used the information gathered to set the salaries of the schools employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents are available upon request at the organizations office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Rounding Difference
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02186392
IRS990/TotalAssetsEOYAmt02399815
IRS990/TotalAssetsGrp/BOYAmt02186392
IRS990/TotalAssetsGrp/EOYAmt02399815
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0273525
IRS990/TotalEmployeeCnt025
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt054679
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01215034
IRS990/TotalFunctionalExpensesGrp/TotalAmt01269713
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0105614
IRS990/TotalLiabilitiesEOYAmt0104318
IRS990/TotalLiabilitiesGrp/BOYAmt0105614
IRS990/TotalLiabilitiesGrp/EOYAmt0104318
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02080778
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02295497
IRS990/TotalProgramServiceExpensesAmt01215034
IRS990/TotalProgramServiceRevenueAmt01209754
IRS990/TotalReportableCompFromOrgAmt062906
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01210908
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01484433
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02186392
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02399815
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02080778
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02295497
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 3523
IRS990/USAddress/CityNm0CHAPEL HILL
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027515
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.HopeCreekAcademy.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA REE MCDONOUGH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOPE CREEK ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0HOPE
ReturnHeader/Filer/EIN0272670276
ReturnHeader/Filer/PhoneNum09199320360

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,399,815
Liabilities
$104,318
Net assets
$2,295,497
Revenue
$1,484,433
Expenses
$1,269,713
Net income
$214,720
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.46$0.28$2.18$1.22$1.67$0.45
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.68$0.05$2.63$1.53$1.25$0.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.63$0.28$2.35$1.40$1.38$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$0.08$2.33$1.44$1.40$0.03
2018Detailed filing. Detailed filing data is available for this year.$2.40$0.10$2.30$1.48$1.27$0.21
2016Detailed filing. Detailed filing data is available for this year.$2.16$0.11$2.05$3.22$1.09$2.13
2014Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$0.61$0.48$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.00$0.02$0.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.03$0.03$0.20$0.18$0.02
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)3 • $1M-$5M nonprofits