Civic Intelligence

Hope Creek Academy Inc.

990 • Fiscal year 2016 • EIN 27-2670276

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 10, 2016

Organization Profilewww.JustRightAcademy.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

0.05x

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

2016 filings • NTEE B • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

35th percentile

0.03x

Higher debt load relative to revenue than 35% of similar nonprofits.

2016 filings • NTEE B • $1M-$5M nonprofits • Source year 2016

Net Margin

95th percentile

66%

Higher net margin than 95% of similar nonprofits.

2016 filings • NTEE B • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

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

2016 filings • NTEE B • $1M-$5M nonprofits • Source year 2016

Asset Growth

99th percentile

732%

Faster asset growth than 99% of similar nonprofits.

2016 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

97th percentile

271%

Faster revenue growth than 97% of similar nonprofits.

2016 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$2,157,391

Up $2,005,271 (+1318%) from 2014

Net Assets

Up

$2,045,051

Up $1,897,218 (+1283%) from 2014

Liabilities

Up

$112,340

Up $108,053 (+2520%) from 2014

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin95th percentile

Revenue

Up

$3,224,420

Up $2,614,647 (+429%) from 2014

Expenses

Up

$1,093,573

Up $612,247 (+127%) from 2014

Net Income

Up

$2,130,847

Up $2,002,400 (+1559%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth99th 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

2016

Assets$2,157,391
Liabilities$112,340
Net Assets$2,045,051
Open 2016 Filing

Operations Trend

Revenue Growth97th 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

2016

Revenue$3,224,420
Expenses$1,093,573
Net Income$2,130,847
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 10, 2016
Return Version
2015v2.1
Gross Receipts
$3,224,558
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$200,865$2,019,063▲ $1,818,198
Cash and Non-Interest-Bearing Accounts$53,860$52,120▼ $1,740
Savings and Temporary Cash Investments-$26,061-
Total Assets$259,320$2,157,391▲ $1,898,071
Other Assets Total$4,595$60,147▲ $55,552
Liabilities
Deferred Revenue$87,111$112,340▲ $25,229
Total Liabilities$87,111$112,340▲ $25,229
Net Assets / Fund Balance
Unrestricted Net Assets$172,209$2,045,051▲ $1,872,842
Total Net Assets Fund Balance$172,209$2,045,051▲ $1,872,842
Total Liabilities and Net Assets / Fund Balance$259,320$2,157,391▲ $1,898,071

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,518,579$21,421$1,540,000
Land$477,250-$477,250
Equipment$23,234$19,334$42,568
Leasehold Improvements-$-181,328-
Compensation and Service Providers
Top Officer Pay32nd percentile

Board Members and Trustees

NameTitle
Kathryn WilliamsCo-Chair
Sharon UpdikeCo-Chair
Frank FloydMember
Kathryn AbbottMember
Marion HouserMember
Stacy RaderMember
Suzanne RameyMember
Jonathan TaylorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,234,042
Program Service Revenue
$974,895
Investment Income
$17
Other Revenue
$15,466
All Other Contributions
$2,232,994
Change in Net Assets
$2,130,847

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 Commercial2$2,075,000appraisal
Total Noncash Contributions2$2,075,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$791,059
Other Expenses$302,514
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$633,256$43,251-$676,507
Occupancy$132,148--$132,148
Fees for Services Other$71,279--$71,279
Payroll Taxes$59,466$3,796-$63,262
Other Employee Benefits$48,213$3,077-$51,290
Depreciation Depletion$28,330$2,012-$30,342
Office Expenses-$11,321-$11,321
Conferences and Meetings$9,731--$9,731
Fees for Services Accounting-$2,955-$2,955
Insurance$2,748--$2,748
Other Expenses$348--$348
All Other Expenses$293--$293
Advertising-$116-$116
Total Functional Expenses$1,027,045$66,528$0$1,093,573
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$15,604
Fundraising Direct Expenses$138
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Silent Auction$15,604$15,604$138$15,466
Total Events$15,604$15,604$138$15,466
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 C, Line 19

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

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.”

Filing and Contact Details

Filer

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

Signing Officer

Name
Linda Ree Mcdonough
Title
Director
Signed
2016-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Ree McDonough
Formed
2010
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
28

Preparer

Firm
Lawson Travers CPA PLLC
Address
312 Westside Drive, Chapel Hill, NC 27516-8393
Preparer
Lawson A Travers CPA
Phone
9199602794
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Rounding difference”

Form 990, Part XI, Line 9

“The building that the school was leasing was donated to the school by the leasor/owner. Thus, all of the prior leasehold improvements were written off the books as of the date of the donation. The depreciable value of those improvements is now captured as part of the building and the depreciation will start again. Only a small portion of the improvements had been depreciated, thus a large loss of 256,263 was recorded when the improvements were removed from the books.”

Form 990, Part XI, Line 9

“1645 of student tuition paid in cash was stolen before being deposited to the bank account.”

Raw XML AppendixShowing 400 of 424 raw XML fields

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/ReconcilationRevenueExpnssAmt02130847
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0974912
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt026061
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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/BookValueAmt01518579
IRS990ScheduleD/BuildingsGrp/DepreciationAmt021421
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01540000
IRS990ScheduleD/EquipmentGrp/BookValueAmt023234
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019334
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt042568
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0477250
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0477250
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0-181328
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02019063
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
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0138
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Silent Auction
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt015604
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt015604
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt015604
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt015604
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt015466
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0138
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0138
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/Form8283ReceivedCnt01
IRS990ScheduleM/RealEstateCommercialGrp/ContributionCnt02
IRS990ScheduleM/RealEstateCommercialGrp/MethodOfDeterminingRevenuesTxt0appraisal
IRS990ScheduleM/RealEstateCommercialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateCommercialGrp/NoncashContributionsRptF990Amt02075000
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/ExplanationTxt1Governing documents are available upon request at the organizations office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Rounding difference
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3At the first board meeting of the school year each member completes a Conflict of Interest Policy Disclosure Form.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The 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/ExplanationTxt5The building that the school was leasing was donated to the school by the leasor/owner. Thus, all of the prior leasehold improvements were written off the books as of the date of the donation. The depreciable value of those improvements is now captured as part of the building and the depreciation will start again. Only a small portion of the improvements had been depreciated, thus a large loss of 256,263 was recorded when the improvements were removed from the books.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt61645 of student tuition paid in cash was stolen before being deposited to the bank account.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part XI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, Line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0259320
IRS990/TotalAssetsEOYAmt02157391
IRS990/TotalAssetsGrp/BOYAmt0259320
IRS990/TotalAssetsGrp/EOYAmt02157391
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02234042
IRS990/TotalEmployeeCnt028
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt066528
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01027045
IRS990/TotalFunctionalExpensesGrp/TotalAmt01093573
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt087111
IRS990/TotalLiabilitiesEOYAmt0112340
IRS990/TotalLiabilitiesGrp/BOYAmt087111
IRS990/TotalLiabilitiesGrp/EOYAmt0112340
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0172209
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02045051
IRS990/TotalProgramServiceExpensesAmt01027045
IRS990/TotalProgramServiceRevenueAmt0974895
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0974912
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03224420
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0259320
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02157391
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0172209
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02045051
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 3523
IRS990/USAddress/CityNm0CHAPEL HILL
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027515
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.JustRightAcademy.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA REE MCDONOUGH

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,157,391
Liabilities
$112,340
Net assets
$2,045,051
Revenue
$3,224,420
Expenses
$1,093,573
Net income
$2,130,847
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
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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

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