Civic Intelligence

River MILL Academy

990 • Fiscal year 2022 • EIN 30-0248126

Jul 01, 2021 to Jun 30, 2022 • Filed on May 13, 2023

Organization ProfileWWW.RIVERMILL-ACADEMY.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

76th percentile

0.87x

Higher debt load relative to assets than 76% of similar nonprofits.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

77th percentile

1.38x

Higher debt load relative to revenue than 77% of similar nonprofits.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2022

Net Margin

79th percentile

13%

Higher net margin than 79% of similar nonprofits.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

37th percentile

$132,576

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2022

Asset Growth

5th percentile

-15%

Faster asset growth than 5% of similar nonprofits.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

53rd percentile

14%

Faster revenue growth than 53% of similar nonprofits.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$12,915,784

Down $939,719 (-6.8%) from 2020

Net Assets

Up

$1,731,336

Up $1,666,781 (+2582%) from 2020

Liabilities

Down

$11,184,448

Down $2,606,500 (-19%) from 2020

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin79th percentile

Revenue

Up

$8,126,741

Up $962,217 (+13%) from 2020

Expenses

Up

$7,047,777

Up $608,891 (+9.5%) from 2020

Net Income

Up

$1,078,964

Up $353,326 (+49%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2022

Assets$12,915,784
Liabilities$11,184,448
Net Assets$1,731,336
Open 2022 Filing

Operations Trend

Revenue Growth53rd 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

2022

Revenue$8,126,741
Expenses$7,047,777
Net Income$1,078,964
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 13, 2023
Return Version
2021v4.0
Gross Receipts
$8,126,741
Mission and Program Overview

Mission

Operation of a north carolina public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,834,436$8,337,284▼ $497,152
Cash and Non-Interest-Bearing Accounts$3,198,630$1,617,285▼ $1,581,345
Accounts Receivable$64,619$96,140▲ $31,521
Prepaid Expenses and Deferred Charges$14,924$14,289▼ $635
Total Assets$15,187,691$12,915,784▼ $2,271,907
Other Assets Total$3,075,082$2,850,786▼ $224,296
Liabilities
Other Liabilities$11,846,143$11,102,505▼ $743,638
Tax Exempt Bond Liabilities$2,676,400--
Accounts Payable and Accrued Expenses$12,776$81,943▲ $69,167
Total Liabilities$14,535,319$11,184,448▼ $3,350,871
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$652,372$1,731,336▲ $1,078,964
Total Net Assets Fund Balance$652,372$1,731,336▲ $1,078,964
Total Liabilities and Net Assets / Fund Balance$15,187,691$12,915,784▼ $2,271,907

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,616,875$2,548,934$9,165,809
Equipment$293,449$1,617,174$1,910,623
Land$1,390,526-$1,390,526
Other Land Buildings$36,434$71,236$107,670
Other Assets Org$3,159--
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey DishmonPrincipalFT$132,576$132,576

Board Members and Trustees

NameTitle
Brent SmithChairman
Morgan WhitneyVice-chairma
Jesse WoodDirector
Jill DavisDirector
Kenny RisenDirector
Mary FaucetteDirector
Michelle Quinvilan-smithDirector
Mike WilsonDirector
James PenrodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$544,694
Program Service Revenue
$7,535,501
Investment Income
$0
Other Revenue
$46,546
All Other Contributions
$7,685
Change in Net Assets
$1,078,964

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,126,741
Total Revenue per Audited Statements
$8,126,741
Total Revenue per Form 990
$8,126,741
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,004,250
Other Expenses$2,043,527
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,077,256$410,469-$3,487,725
Other Employee Benefits$698,654$123,292-$821,946
Fees for Services Other$272,156$325,672-$597,828
Depreciation Depletion$414,113$138,038-$552,151
Information Technology$352,265--$352,265
Payroll Taxes$245,839$41,431-$287,270
Pension Plan Contributions$233,523$41,210-$274,733
Current Officers, Directors, Trustees, and Key Employees-$132,576-$132,576
Interest-$95,609-$95,609
Occupancy-$78,383-$78,383
Office Expenses-$53,610-$53,610
Insurance-$43,511-$43,511
All Other Expenses$31,003$730-$31,733
Other Expenses$18,001$525-$18,001
Fees for Services Accounting-$15,141-$15,141
Travel-$13,567-$13,567
Fees for Services Legal-$6,879-$6,879
Advertising-$3,341-$3,341
Conferences and Meetings$1,972$43-$2,015
Total Functional Expenses$5,518,564$1,529,213$0$7,047,777

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,047,777
Total Expenses per Audited Statements$7,047,777
Total Expenses per Form 990$7,047,777
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$23,945
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising$23,945---
Total Events$23,945---
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Opeb Liability$6,280,602
Opeb Deferrals$2,267,616
Pension Deferrals$1,476,413
Net Pension Liability$1,074,189
Dipnc Deferrals$3,685
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
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
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

“Chairman of the board recieves a copy of the 990 and distributes copies to the board for review prior to filing.”

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

“The board of directors reviews the policy on an annual basis and all board members are required to sign the policy annually. All employees must sign the policy when signing employment contract. All potential conflicts of 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, policies, and financial statements are available for viewing 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
2023-05-13

Organization Details

Principal Officer
Brent Smith
Formed
2004
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
83
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/PensionPlanContributionsGrp/ProgramServicesAmt0233523
IRS990/PensionPlanContributionsGrp/TotalAmt0274733
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt014924
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt014289
IRS990/PrincipalOfficerNm0BRENT SMITH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0STATE OF NC
IRS990/ProgramServiceRevenueGrp/Desc1COUNTY APPROPRIATIONS
IRS990/ProgramServiceRevenueGrp/Desc2SCHOOL PROGRAMS & ACTIVITIES
IRS990/ProgramServiceRevenueGrp/Desc3CHILD CARE SERVICES
IRS990/ProgramServiceRevenueGrp/Desc4LUNCH REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05556688
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11483567
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2189179
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3163717
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4142350
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05556688
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11483567
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2189179
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3163717
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4142350
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0215992
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt01427855
IRS990/PYOtherRevenueAmt011593
IRS990/PYProgramServiceRevenueAmt06915312
IRS990/PYRevenuesLessExpensesAmt0587818
IRS990/PYSalariesCompEmpBnftPaidAmt05127224
IRS990/PYTotalExpensesAmt06555079
IRS990/PYTotalRevenueAmt07142897
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01078964
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt07535501
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/BookValueAmt06616875
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02548934
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09165809
IRS990ScheduleD/EquipmentGrp/BookValueAmt0293449
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01617174
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01910623
IRS990ScheduleD/ExpensesSubtotalAmt07047777
IRS990ScheduleD/LandGrp/BookValueAmt01390526
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01390526
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02048535
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1574962
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2220788
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt33342
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt43159
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0PENSION & OPEB DEFERRALS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1C/Y PENSION CONTRIBUTIONS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2C/Y CONTRIBUTIONS TO OPEB PLAN
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3NET DIPNC ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4C/Y CONTRIBUTIONS TO DIPNC PLAN
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt036434
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt071236
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0107670
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06280602
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12267616
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21476413
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt31074189
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt43685
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET OPEB LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OPEB DEFERRALS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PENSION DEFERRALS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4DIPNC DEFERRALS
IRS990ScheduleD/RevenueSubtotalAmt08126741
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08337284
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02850786
IRS990ScheduleD/TotalExpensesPerForm990Amt07047777
IRS990ScheduleD/TotalLiabilityAmt011102505
IRS990ScheduleD/TotalRevenuePerForm990Amt08126741
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08126741
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07047777
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
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FUNDRAISING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt023945
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt023945
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ACADIA NORTHSTAR, LLC ACCOUNTING & BUSINESS MANAGEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CHAIRMAN OF THE BOARD RECIEVES A COPY OF THE 990 AND DISTRIBUTES COPIES TO THE BOARD FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWS THE POLICY ON AN ANNUAL BASIS AND ALL BOARD MEMBERS ARE REQUIRED TO SIGN THE POLICY ANNUALLY. ALL EMPLOYEES MUST SIGN THE POLICY WHEN SIGNING EMPLOYMENT CONTRACT. ALL POTENTIAL CONFLICTS OF ARE BROUGHT BEFORE THE BOARD FOR DISCUSSION AND RESOLUTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS APPROVES THE SALARY FOR THE TOP MANAGEMENT OFFICIAL USING STATE SALARY GUIDELINES FROM THE NC DEPARTMENT OF PUBLIC INSTRUCTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO OFFICERS ARE COMPENSATED. KEY EMPLOYEE SALARIES ARE APPROVED BY THE BOARD AND ARE BASED ON STATE SALARY SCALE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR VIEWING UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$12,915,784
Liabilities
$11,184,448
Net assets
$1,731,336
Revenue
$8,126,741
Expenses
$7,047,777
Net income
$1,078,964
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$12.9$11.2$1.73$8.13$7.05$1.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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