Civic Intelligence

River MILL Academy

990 • Fiscal year 2024 • EIN 30-0248126

Jul 01, 2023 to Jun 30, 2024 • Filed on Mar 19, 2025

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

62nd percentile

0.83x

Higher debt load relative to assets than 62% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

1.51x

Higher debt load relative to revenue than 71% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Net Margin

41st percentile

0.2%

Higher net margin than 41% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

47th percentile

$148,278

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Asset Growth

62nd percentile

4.1%

Faster asset growth than 62% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

28th percentile

3.0%

Faster revenue growth than 28% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$14,275,102

Up $1,359,318 (+11%) from 2022

Net Assets

Up

$2,428,745

Up $697,409 (+40%) from 2022

Liabilities

Up

$11,846,357

Up $661,909 (+5.9%) from 2022

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin41st percentile

Revenue

Down

$7,851,008

Down $275,733 (-3.4%) from 2022

Expenses

Up

$7,832,654

Up $784,877 (+11%) from 2022

Net Income

Down

$18,354

Down $1,060,610 (-98%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth62nd 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: $1,731,3362022Assets 2024: $14,275,102Liabilities 2024: $11,846,357Net Assets 2024: $2,428,7452024

Highlighted filing

2024

Assets$14,275,102
Liabilities$11,846,357
Net Assets$2,428,745
Open 2024 Filing

Operations Trend

Revenue Growth28th 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: $1,078,9642022Revenue 2024: $7,851,008Expenses 2024: $7,832,654Net Income 2024: $18,3542024

Highlighted filing

2024

Revenue$7,851,008
Expenses$7,832,654
Net Income$18,354
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Mar 19, 2025
Return Version
2023v6.0
Gross Receipts
$7,856,458
Mission and Program Overview

Mission

Operation of a north carolina public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,263,963$8,072,403▼ $191,560
Savings and Temporary Cash Investments-$1,063,103-
Cash and Non-Interest-Bearing Accounts$1,847,353$1,002,844▼ $844,509
Accounts Receivable$40,539$51,658▲ $11,119
Prepaid Expenses and Deferred Charges$23,908$47,416▲ $23,508
Total Assets$13,716,946$14,275,102▲ $558,156
Other Assets Total$3,541,183$4,037,678▲ $496,495
Liabilities
Other Liabilities$11,272,403$11,806,569▲ $534,166
Accounts Payable and Accrued Expenses$19,150$35,028▲ $15,878
Deferred Revenue$15,000$4,760▼ $10,240
Total Liabilities$11,306,553$11,846,357▲ $539,804
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,410,393$2,428,745▲ $18,352
Total Net Assets Fund Balance$2,410,393$2,428,745▲ $18,352
Total Liabilities and Net Assets / Fund Balance$13,716,946$14,275,102▲ $558,156

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,128,228$2,122,760$7,250,988
Equipment$543,302$1,729,111$2,272,413
Leasehold Improvements$840,347$1,315,638$2,155,985
Land$1,560,526-$1,560,526
Other Assets Org$4,037,678--
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeffrey DishmonPrincipalFT$140,651$7,627$148,278

Board Members and Trustees

NameTitle
Brent SmithChair
Mary FaucetteVice Chair
Efren Saenz JrDirector
James PenrodDirector
Kenny RisenDirector
Mike WilsonDirector
Jill DavisSecretary
Jesse WoodTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Danny's Cafe LLCCatering110 W FRONT STREET, Burlington, NC 27215$120,443
Revenue and Support

Revenue Composition

Contributions and Grants
$7,280,768
Program Service Revenue
$537,436
Investment Income
$12,880
Other Revenue
$19,924
All Other Contributions
$14,004
Change in Net Assets
$18,354

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,856,458
Revenue Not Reported on Financial Statements
$-5,450
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-5,450
Total Revenue per Audited Statements
$7,856,458
Total Revenue per Form 990
$7,851,008
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,977,302
Other Expenses$1,855,352
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,688,194$446,514-$4,134,708
Pension Plan Contributions$863,225$104,507-$967,732
Payroll Taxes$751,776$91,014-$842,790
Fees for Services Other$556,580$67,383-$623,963
Depreciation Depletion$445,714$53,961-$499,675
Occupancy$83,944$10,163-$94,107
Insurance$46,153$5,587-$51,740
Other Expenses$33,603$4,068-$37,671
Information Technology$33,347$4,037-$37,384
Travel$32,888$3,982-$36,870
Fees for Services Legal$31,222$3,780-$35,002
Other Employee Benefits$28,608$3,464-$32,072
All Other Expenses$19,123$2,316-$21,439
Office Expenses$14,971$1,812-$16,783
Fees for Services Accounting$9,366$1,134-$10,500
Conferences and Meetings$3,267$395-$3,662
Advertising$2,027$245-$2,272
Total Functional Expenses$6,986,792$845,862$0$7,832,654

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,838,104
Expenses per Audited Statements$7,832,654
Total Expenses per Form 990$7,832,654
Expenses Not Reported on Form 990$5,450
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$5,450
Fundraising Gross Income$0
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
Net Opeb Liability$5,949,075
Net Pension Liability$3,846,226
Deferred Inflows of Resources$2,011,268
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, Part VI, Section A, Line 3

“Charter success partners accounting & business management”

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

“The chairman of the board receives a copy of the 990 and distributes copies to the board for review prior to filing.”

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

“The board of directors reviews the conflict of interest policy on an annual basis, and all board members are required to sign the policy annually. All employees must sign the policy when signing their employment contract. All potential conflicts of interest are brought before the board for discussion and resolution.”

Form 990, Part VI, Section B, Line 15

“The board of directors approves the salary for the top management official using state salary guidelines from the nc department of public instruction. No officers are compensated. Key employee salaries are approved by the board and are based on the state salary scale.”

Form 990, Part VI, Section C, 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
2025-03-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brent Smith
Formed
2004
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
88
Volunteers
50

Preparer

Firm
Sharpe Patel CPA
Address
5510 SIX FORKS ROAD SUITE 140, RALEIGH, NC 27609
Preparer
Rebecca Fisher
Phone
7044993893
Supplemental Narrative

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Fundraising expenses to part viii”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses to part viii”

Raw XML AppendixShowing 400 of 496 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/OtherExpensesGrp/ManagementAndGeneralAmt023364
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt111991
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt26145
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt34068
IRS990/OtherExpensesGrp/ProgramServicesAmt0192984
IRS990/OtherExpensesGrp/ProgramServicesAmt199043
IRS990/OtherExpensesGrp/ProgramServicesAmt250757
IRS990/OtherExpensesGrp/ProgramServicesAmt333603
IRS990/OtherExpensesGrp/TotalAmt0216348
IRS990/OtherExpensesGrp/TotalAmt1111034
IRS990/OtherExpensesGrp/TotalAmt256902
IRS990/OtherExpensesGrp/TotalAmt337671
IRS990/OtherLiabilitiesGrp/BOYAmt011272403
IRS990/OtherLiabilitiesGrp/EOYAmt011806569
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0SALES TAX REFUND
IRS990/OtherRevenueMiscGrp/Desc1VARIOUS
IRS990/OtherRevenueMiscGrp/ExclusionAmt017969
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt05560
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt017969
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt15560
IRS990/OtherRevenueTotalAmt023529
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0446514
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt03688194
IRS990/OtherSalariesAndWagesGrp/TotalAmt04134708
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt091014
IRS990/PayrollTaxesGrp/ProgramServicesAmt0751776
IRS990/PayrollTaxesGrp/TotalAmt0842790
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0104507
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0863225
IRS990/PensionPlanContributionsGrp/TotalAmt0967732
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt023908
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt047416
IRS990/PrincipalOfficerNm0BRENT SMITH
IRS990/PriorPeriodAdjustmentsAmt0-2
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/Desc0SCHOOL PROGRAMS & ACTI
IRS990/ProgramServiceRevenueGrp/Desc1CHILD CARE SERVICES
IRS990/ProgramServiceRevenueGrp/Desc2LUNCH REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0201474
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1173850
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2162112
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0201474
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1173850
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2162112
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt07046269
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0223
IRS990/PYOtherExpensesAmt01602865
IRS990/PYOtherRevenueAmt048033
IRS990/PYProgramServiceRevenueAmt0524195
IRS990/PYRevenuesLessExpensesAmt0679057
IRS990/PYSalariesCompEmpBnftPaidAmt05336798
IRS990/PYTotalExpensesAmt06939663
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07618720
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt018354
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt01845
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0544841
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01063103
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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt05128228
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02122760
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07250988
IRS990ScheduleD/EquipmentGrp/BookValueAmt0543302
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01729111
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02272413
IRS990ScheduleD/ExpensesNotReportedAmt05450
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt07832654
IRS990ScheduleD/LandGrp/BookValueAmt01560526
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01560526
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0840347
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01315638
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt02155985
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt04037678
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED OUTLOWS OF RESOURCES
IRS990ScheduleD/OtherExpensesIncludedAmt05450
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05949075
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13846226
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22011268
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET OPEB LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-5450
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-5450
IRS990ScheduleD/RevenueSubtotalAmt07856458
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING EXPENSES TO PART VIII
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES TO PART VIII
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08072403
IRS990ScheduleD/TotalBookValueOtherAssetsAmt04037678
IRS990ScheduleD/TotalExpensesPerForm990Amt07832654
IRS990ScheduleD/TotalLiabilityAmt011806569
IRS990ScheduleD/TotalRevenuePerForm990Amt07851008
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07856458
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07838104
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
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/ExplanationTxt1NORTH CAROLINA CHARTER SCHOOL, FUNDED BY FEDERAL, STATE AND LOCAL GOVERNMENT BY VARIOUS GRANTS
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$14,275,102
Liabilities
$11,846,357
Net assets
$2,428,745
Revenue
$7,851,008
Expenses
$7,832,654
Net income
$18,354
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.3$11.8$2.43$7.85$7.83$0.02
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
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