Civic Intelligence

Sherman Academy Inc

EIN 27-3201320 • 501(c)3 • Winston Salem, NC

Profile

Education

1999 Tiger Eye CourtWinston Salem, NC 27127

www.shermanacademy.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

4.18x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

86th percentile

0.19x

Higher debt load relative to revenue than 86% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

36th percentile

-5.5%

Higher net margin than 36% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

95th percentile

$35,000

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 56.1% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

10th percentile

-92%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

90th percentile

77%

Faster revenue growth than 90% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$4,931

Down $6,144 (-55%) from 2023

Liabilities

Flat

$20,600

Flat from 2023

Net Assets

Down

-$15,669

Down $6,144 (-65%) from 2023

Operations
Liabilities / Revenue86th percentileNet Margin36th percentile

Revenue

Up

$110,773

Up $40,746 (+58%) from 2023

Expenses

Up

$116,917

Up $53,872 (+85%) from 2023

Net Income

Down

-$6,144

Down $13,126 (-188%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth10th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30K$20K$10K$0-$10K-$20KAssets 2022: $4,466Liabilities 2022: $70Net Assets 2022: $4,3962022Assets 2023: $11,075Liabilities 2023: $20,600Net Assets 2023: -$9,5252023Assets 2024: $4,931Liabilities 2024: $20,600Net Assets 2024: -$15,6692024

Highlighted filing

2024

Assets$4,931
Liabilities$20,600
Net Assets-$15,669
Open 2024 Filing

Operations Trend

Revenue Growth90th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150K$100K$50K$0-$50KRevenue 2022: $79,580Expenses 2022: $77,023Net Income 2022: $2,5572022Revenue 2023: $70,027Expenses 2023: $63,045Net Income 2023: $6,9822023Revenue 2024: $110,773Expenses 2024: $116,917Net Income 2024: -$6,1442024

Highlighted filing

2024

Revenue$110,773
Expenses$116,917
Net Income-$6,144
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,931
Liabilities
$20,600
Net assets
-$15,669
Revenue
$110,773
Expenses
$116,917
Net income
-$6,144
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.05$0.21$0.16$1.11$1.17$0.06
2023Detailed filing. Detailed filing data is available for this year.$0.11$0.21$0.10$0.70$0.63$0.07
2022Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.80$0.77$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 15, 2025
Return Version
2024v5.1
Gross Receipts
$110,773
Mission and Program Overview

Mission

To educate students one child at a time

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,158$3,850▼ $308
Cash and Non-Interest-Bearing Accounts$6,917$1,081▼ $5,836
Total Assets$11,075$4,931▼ $6,144
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,600--
Other Liabilities-$20,600-
Total Liabilities$20,600$20,600→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,983--
Net Assets With Donor Restrictions$-16,508$-15,669▲ $839
Total Net Assets Fund Balance$-9,525$-15,669▼ $6,144
Total Liabilities and Net Assets / Fund Balance$11,075$4,931▼ $6,144

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$3,850$770-
Compensation and Service Providers
Top Officer Pay95th percentile

Board Members and Trustees

NameTitle
Alexis TennieDirector
Brian ThompsonDirector
Bruce ShermanDirector
Joy Riley SwitzerDirector
Jennifer ShermanExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$53,772
Program Service Revenue
$57,001
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-6,144
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$116,917
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$56,955--$56,955
Other Expenses$11,103$11,104-$22,207
Occupancy$13,492--$13,492
All Other Expenses$6,169$6,210-$12,379
Office Expenses-$2,702-$2,702
Fees for Services Legal-$961-$961
Interest-$857-$857
Depreciation Depletion-$308-$308
Advertising-$225-$225
Travel-$25-$25
Total Functional Expenses$87,719$29,198$0$116,917
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
Eidl$20,600
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Backup withholding compliance
No
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
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“The Executive Director and a board member have a mother-son relationship. Also, a landlord-tenant relationship exists whereby rental payments are made from the Academy to the son on a nonscheduled basis”

Governing body meeting documentation Part VI line 8A

“The Academy will begin having board meetings in the coming year and such meetings will be documented.”

Committee meeting documentation Part VI line 8B

“Currently, the Academy has no Committees.”

Form 990 governing body review Part VI line 11

“The board reviews the Form 990 prior to filing”

CEO executive director top management comp Part VI line 15A

“The Executive Directors salary is determined by comparison by board to similar positions responsibilities and similar geographic location.”

Other officer or key employee compensation Part VI line 15B

“Other officer and/or key employee compensations will be set by board based on comparative data analysis.”

Governing documents etc available to public Part VI line 19

“Governing documents of the Academy are available to the general public aupon request.”

Filing and Contact Details

Filer

Filer Name
Sherman Academy Inc
EIN
27-3201320
In Care Of
% Jennifer Sherman
Phone
3369953235
Address
1999 Tiger Eye Court, Winston Salem, NC 27127

Signing Officer

Name
Jennifer Sherman
Title
Executive Director
Phone
3369953235
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Saxx1 LLC
Address
3836 Old Lexington Rd, Winston Salem, NC 27107
Preparer
Eric Saxx
Phone
3364099542
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Program Expenses Management ExpensesContractors 56,835Others 120 -------- 56,955 ========”

List of other expenses Part IX line 24E

“General and Management Program ExpensesEvent Graduation 650Drop ins 5,519Other 1,458Professional development 25School pictures 1,038Software 2,757Luncheons 785Website 147 ------ ------ 6,109 6,210 ====== ======”

Raw XML Appendix335 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Executive Director and a board member have a mother-son relationship. Also, a landlord-tenant relationship exists whereby rental payments are made from the Academy to the son on a nonscheduled basis
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JENNIFER SHERMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum03369953235
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Sherman Academy Inc
ReturnHeader/Filer/BusinessNameControlTxt0SHER
ReturnHeader/Filer/EIN0273201320
ReturnHeader/Filer/InCareOfNm0% Jennifer Sherman
ReturnHeader/Filer/PhoneNum03369953235
ReturnHeader/Filer/USAddress/AddressLine1Txt01999 Tiger Eye Court
ReturnHeader/Filer/USAddress/CityNm0Winston Salem
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027127
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0811049560
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Saxx1 LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03836 Old Lexington Rd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Winston Salem
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027107
ReturnHeader/PreparerPersonGrp/PhoneNum03364099542
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ERIC SAXX
ReturnHeader/ReturnTs02025-05-15T20:52:46-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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