Civic Intelligence

River MILL Academy

990 • Fiscal year 2020 • EIN 30-0248126

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 21, 2021

Organization ProfileWWW.RIVERMILLJAGS.ORG
235 Cheeks LaneGraham, NC 27253

(336) 229-0909

Siviq Scores

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

Liabilities / Assets

89th percentile

1.00x

Higher debt load relative to assets than 89% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

86th percentile

1.92x

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

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Net Margin

72nd percentile

10%

Higher net margin than 72% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$124,588

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Asset Growth

51st percentile

7.2%

Faster asset growth than 51% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2017 to 2020

Revenue Growth

54th percentile

4.2%

Faster revenue growth than 54% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2017 to 2020

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$13,855,503

Up $2,595,175 (+23%) from 2017

Net Assets

Down

$64,555

Down $4,563,924 (-99%) from 2017

Liabilities

Up

$13,790,948

Up $7,159,099 (+108%) from 2017

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin72nd percentile

Revenue

Up

$7,164,524

Up $824,789 (+13%) from 2017

Expenses

Up

$6,438,886

Up $1,012,516 (+19%) from 2017

Net Income

Down

$725,638

Down $187,727 (-21%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

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

$15M$10M$5.0M$0Assets 2017: $11,260,328Liabilities 2017: $6,631,849Net Assets 2017: $4,628,4792017Assets 2020: $13,855,503Liabilities 2020: $13,790,948Net Assets 2020: $64,5552020Assets 2022: $12,915,784Liabilities 2022: $11,184,448Net Assets 2022: $1,731,3362022

Highlighted filing

2020

Assets$13,855,503
Liabilities$13,790,948
Net Assets$64,555
Open 2020 Filing

Operations Trend

Revenue Growth54th percentile

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

$10M$5.0M$0Revenue 2017: $6,339,735Expenses 2017: $5,426,370Net Income 2017: $913,3652017Revenue 2020: $7,164,524Expenses 2020: $6,438,886Net Income 2020: $725,6382020Revenue 2022: $8,126,741Expenses 2022: $7,047,777Net Income 2022: $1,078,9642022

Highlighted filing

2020

Revenue$7,164,524
Expenses$6,438,886
Net Income$725,638
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 21, 2021
Return Version
2019v5.0
Gross Receipts
$7,164,524
Mission and Program Overview

Mission

Operation of a north carolina public charter school

Operation of a public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,700,190$4,559,039▼ $141,151
Cash and Non-Interest-Bearing Accounts$2,423,604$2,375,421▼ $48,183
Accounts Receivable$78,847$66,881▼ $11,966
Prepaid Expenses and Deferred Charges$15,226$40,182▲ $24,956
Total Assets$14,120,466$13,855,503▼ $264,963
Other Assets Total$6,902,599$6,813,980▼ $88,619
Liabilities
Other Liabilities$10,647,374$10,820,865▲ $173,491
Tax Exempt Bond Liabilities$4,107,200$2,951,200▼ $1,156,000
Accounts Payable and Accrued Expenses$26,975$18,883▼ $8,092
Total Liabilities$14,781,549$13,790,948▼ $990,601
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-673,758$56,098▲ $729,856
Net Assets With Donor Restrictions$12,675$8,457▼ $4,218
Total Net Assets Fund Balance$-661,083$64,555▲ $725,638
Total Liabilities and Net Assets / Fund Balance$14,120,466$13,855,503▼ $264,963

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,694,852$1,739,208$4,434,060
Equipment$422,871$1,336,302$1,759,173
Land$1,390,526-$1,390,526
Other Land Buildings$50,790$56,880$107,670
Other Assets Org$3,322--
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey DishmonPrincipalFT$124,588$124,588

Board Members and Trustees

NameTitle
Brent SmithChairman
Morgan WhitneyVice-chairma
Cathy RumleyDirector
Jill DavisDirector
Kenny RisenDirector
Michelle Quinvilan-smithDirector
Mike WilsonDirector
Sherry SingerSecretary
James PenrodTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Acadia NorthstarMgt & Accting5029 FALLS OF NEUSE RD, Raleigh, NC 27609$125,409
Revenue and Support

Revenue Composition

Contributions and Grants
$202,511
Program Service Revenue
$6,942,363
Investment Income
$0
Other Revenue
$19,650
All Other Contributions
$10,588
Change in Net Assets
$725,638

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,164,524
Total Revenue per Audited Statements
$7,164,524
Total Revenue per Form 990
$7,164,524
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,044,066
Other Expenses$1,394,820
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,955,989$196,887-$3,152,876
Pension Plan Contributions$710,562$106,176-$816,738
Other Employee Benefits$493,842$73,792-$567,634
Fees for Services Other$196,563$214,026-$410,589
Depreciation Depletion$245,020$81,674-$326,694
Current Officers, Directors, Trustees, and Key Employees-$254,995-$254,995
Payroll Taxes$218,488$33,335-$251,823
Interest-$116,223-$116,223
Fees for Services Accounting-$87,585-$87,585
Occupancy-$68,455-$68,455
Office Expenses$13,205$51,986-$65,191
Information Technology$43,476$12,966-$56,442
Insurance$97$38,503-$38,600
All Other Expenses$14,829$13,388-$28,217
Other Expenses$10,531$5,696-$16,227
Travel$7,910$124-$8,034
Fees for Services Legal-$4,476-$4,476
Conferences and Meetings$1,970$146-$2,116
Advertising-$137-$137
Total Functional Expenses$5,075,845$1,363,041$0$6,438,886

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,438,886
Total Expenses per Audited Statements$6,438,886
Total Expenses per Form 990$6,438,886
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$430
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-SpouseRepair and MaintenanNo$11,898
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Opeb Liability$6,105,942
Opeb Deferrals$2,407,037
Net Pension Liability$2,246,520
Pension Deferrals$58,488
Dipnc Deferrals$2,878

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANc Capital Facilities Fin Agency2014-06-10$4,600,000Refunding & facility construction

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$4,600,000$3,600,000$1,648,800-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Acadia northstar, llc accounting & business management”

Form 990, Page 6, Part VI, Line 11B

“Board reviews 990 and compares to audited financial statements.”

Form 990, Page 6, Part VI, Line 12C

“The board of directors reviews the policy on an annual basis. All potential conflicts of interest are brought before the board for discussion and resolution.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors approves the salary for the top management official using state salary guidelines from the nc department of public instruction.”

Form 990, Page 6, Part VI, Line 15B

“No officers are compensated. Key employee salaries are approved by the board and are based on state salary scale.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, school policies, and financial statements are available for viewing by the public at the organization's office upon request.”

Filing and Contact Details

Filer

Filer Name
River Mill Academy
EIN
30-0248126
Phone
3362290909
Address
235 CHEEKS LANE, GRAHAM, NC 27253

Signing Officer

Name
Jeffrey Dishmon
Title
Principal
Phone
3362290909
Signed
2021-01-21

Organization Details

Principal Officer
Brent Smith
Formed
2004
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
89
Volunteers
9

Preparer

Firm
Petway Mills & Pearson Pa
Address
PO BOX 1036, ZEBULON, NC 27597-1036
Preparer
James a Ridoutt
Phone
9192697405
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IRS990/OtherExpensesGrp/ProgramServicesAmt310531
IRS990/OtherExpensesGrp/TotalAmt070650
IRS990/OtherExpensesGrp/TotalAmt164226
IRS990/OtherExpensesGrp/TotalAmt230958
IRS990/OtherExpensesGrp/TotalAmt316227
IRS990/OtherLiabilitiesGrp/BOYAmt010647374
IRS990/OtherLiabilitiesGrp/EOYAmt010820865
IRS990/OtherRevenueMiscGrp/Desc0SALES TAX REFUND
IRS990/OtherRevenueMiscGrp/Desc1VARIOUS
IRS990/OtherRevenueMiscGrp/Desc2RENTAL REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt013128
IRS990/OtherRevenueMiscGrp/ExclusionAmt14622
IRS990/OtherRevenueMiscGrp/ExclusionAmt21470
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt013128
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt14622
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt21470
IRS990/OtherRevenueTotalAmt019220
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0196887
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02955989
IRS990/OtherSalariesAndWagesGrp/TotalAmt03152876
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt033335
IRS990/PayrollTaxesGrp/ProgramServicesAmt0218488
IRS990/PayrollTaxesGrp/TotalAmt0251823
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0106176
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0710562
IRS990/PensionPlanContributionsGrp/TotalAmt0816738
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt015226
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt040182
IRS990/PrincipalOfficerNm0BRENT SMITH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0STATE OF NC
IRS990/ProgramServiceRevenueGrp/Desc1COUNTY FUNDS
IRS990/ProgramServiceRevenueGrp/Desc2SCHOOL PROGRAMS & ACTIVITIES
IRS990/ProgramServiceRevenueGrp/Desc3BEFORE & AFTER SCHOOL CARE
IRS990/ProgramServiceRevenueGrp/Desc4LUNCH REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04951689
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11516830
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2188243
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3160936
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4124665
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04951689
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11516830
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2188243
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3160936
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4124665
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0185582
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt01472209
IRS990/PYOtherRevenueAmt026726
IRS990/PYProgramServiceRevenueAmt06908956
IRS990/PYRevenuesLessExpensesAmt01159748
IRS990/PYSalariesCompEmpBnftPaidAmt04489307
IRS990/PYTotalExpensesAmt05961516
IRS990/PYTotalRevenueAmt07121264
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0725638
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt06942363
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/BookValueAmt02694852
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01739208
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04434060
IRS990ScheduleD/EquipmentGrp/BookValueAmt0422871
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01336302
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01759173
IRS990ScheduleD/ExpensesSubtotalAmt06438886
IRS990ScheduleD/LandGrp/BookValueAmt01390526
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01390526
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04527038
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11629328
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2430889
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3214946
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt48457
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt53322
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1PENSION & OPEB DEFERRALS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2CURRENT YR PENSION CONTRIBUTIONS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3C/Y CONTRIBUTIONS TO OPEB PLAN
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4NET DIPNC ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5C/Y CONTRIBUTIONS TO DIPNC PLAN
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt050790
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt056880
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0107670
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06105942
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12407037
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22246520
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt358488
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt42878
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET OPEB LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OPEB DEFERRALS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PENSION DEFERRALS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4DIPNC DEFERRALS
IRS990ScheduleD/RevenueSubtotalAmt07164524
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04559039
IRS990ScheduleD/TotalBookValueOtherAssetsAmt06813980
IRS990ScheduleD/TotalExpensesPerForm990Amt06438886
IRS990ScheduleD/TotalLiabilityAmt010820865
IRS990ScheduleD/TotalRevenuePerForm990Amt07164524
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07164524
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06438886
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/ExplanationTxt0RIVER MILL ACADEMY OPERATES AS A PUBLIC CHARTER SCHOOL AND IS FUNDED BY THE STATE OF NORTH CAROLINA AND LOCAL GOVERNMENT. NORTH CAROLINA REQUIRES A POLICY OF NONDISCRIMINATION AND THE SCHOOL'S NONDISCRIMINATION POLICY IS DISCLOSED IN ALL SOLICITATIONS FOR STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt16A) NORTH CAROLINA CHARTER SCHOOL, FUNDED BY STATE & LOCAL GOVERNMENT. ALSO RECEIVES VARIOUS FEDERAL AND STATE GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd0false
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0NC CAPITAL FACILITIES FIN AGENCY REFUNDING & FACILITY CONSTRUCTION
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A

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Filings

Displayed year

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

Open filing
Assets
$13,855,503
Liabilities
$13,790,948
Net assets
$64,555
Revenue
$7,164,524
Expenses
$6,438,886
Net income
$725,638
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.9$11.2$1.73$8.13$7.05$1.08
2020Detailed filing. Detailed filing data is available for this year.$13.9$13.8$0.06$7.16$6.44$0.73
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.3$6.63$4.63$6.34$5.43$0.91