Civic Intelligence

Reaching All Minds Academy Inc.

990 • Fiscal year 2023 • EIN 30-0707967

Jul 01, 2022 to Jun 30, 2023 • Filed on May 03, 2024

Organization Profilewww.reachingallminds.com

View Organization Page

2703 Holloway StDurham, NC 27703

(919) 596-1899

Siviq Scores

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

Liabilities / Assets

39th percentile

0.11x

Higher debt load relative to assets than 39% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

26th percentile

0.06x

Higher debt load relative to revenue than 26% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Source year 2023

Net Margin

46th percentile

2.0%

Higher net margin than 46% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2023 filings • NTEE B • $5M-$10M nonprofits • Source year 2023

Asset Growth

56th percentile

10%

Faster asset growth than 56% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

59th percentile

9.9%

Faster revenue growth than 59% of similar nonprofits.

2023 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$3,297,223

Up $304,929 (+10%) from 2022

Net Assets

Up

$2,919,489

Up $112,592 (+4.0%) from 2022

Liabilities

Up

$377,734

Up $192,337 (+104%) from 2022

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin46th percentile

Revenue

Up

$5,817,995

Up $525,866 (+9.9%) from 2022

Expenses

Up

$5,704,213

Up $710,342 (+14%) from 2022

Net Income

Down

$113,782

Down $184,476 (-62%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2020: $2,237,831Liabilities 2020: $425,685Net Assets 2020: $1,812,1462020Assets 2021: $2,678,343Liabilities 2021: $169,704Net Assets 2021: $2,508,6392021Assets 2022: $2,992,294Liabilities 2022: $185,397Net Assets 2022: $2,806,8972022Assets 2023: $3,297,223Liabilities 2023: $377,734Net Assets 2023: $2,919,4892023Assets 2024: $2,471,326Liabilities 2024: $298,727Net Assets 2024: $2,172,5992024

Highlighted filing

2023

Assets$3,297,223
Liabilities$377,734
Net Assets$2,919,489
Open 2023 Filing

Operations Trend

Revenue Growth59th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $3,630,644Expenses 2020: $3,368,066Net Income 2020: $262,5782020Revenue 2021: $4,578,274Expenses 2021: $3,881,781Net Income 2021: $696,4932021Revenue 2022: $5,292,129Expenses 2022: $4,993,871Net Income 2022: $298,2582022Revenue 2023: $5,817,995Expenses 2023: $5,704,213Net Income 2023: $113,7822023Revenue 2024: $5,730,658Expenses 2024: $6,477,548Net Income 2024: -$746,8902024

Highlighted filing

2023

Revenue$5,817,995
Expenses$5,704,213
Net Income$113,782
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 3, 2024
Return Version
2022v5.0
Gross Receipts
$5,817,995
Mission and Program Overview

Mission

Operation of a public charter school

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$947,188$1,971,936▲ $1,024,748
Savings and Temporary Cash Investments$1,200,318--
Land, Buildings, and Equipment, Net$516,671$1,087,183▲ $570,512
Accounts Receivable$1,322$168,604▲ $167,282
Prepaid Expenses and Deferred Charges-$69,500-
Total Assets$2,992,294$3,297,223▲ $304,929
Other Assets Total$326,795--
Liabilities
Accounts Payable and Accrued Expenses$185,397$377,734▲ $192,337
Total Liabilities$185,397$377,734▲ $192,337
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,806,897$2,919,489▲ $112,592
Total Net Assets Fund Balance$2,806,897$2,919,489▲ $112,592
Total Liabilities and Net Assets / Fund Balance$2,992,294$3,297,223▲ $304,929

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,039,130$329,368$1,368,498
Equipment$48,053$119,274$167,327
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Annie McKoyPresident
Patrick SpencerVice President
Cassandra AndersonBoard Member
James SolomonBoard Member
Joshua SerranoBoard Member
McQueen CampbellBoard Member
William GordonBoard Member
Shelia TilleryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$444,571
Program Service Revenue
$5,373,424
Investment Income
$0
Other Revenue
$0
All Other Contributions
$16,973
Change in Net Assets
$113,782

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,817,995
Total Revenue per Audited Statements
$5,817,995
Total Revenue per Form 990
$5,817,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,616,285
Other Expenses$2,087,928
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,807,551$160,821-$2,968,372
Other Expenses$529,759$120,245-$529,759
Occupancy$292,876$73,219-$366,095
Other Employee Benefits$304,966$14,794-$319,760
Payroll Taxes$217,061$12,857-$229,918
Depreciation Depletion$101,570$33,526-$135,096
Pension Plan Contributions$94,258$3,977-$98,235
Fees for Services Legal-$35,000-$35,000
Fees for Services Accounting-$8,100-$8,100
Advertising-$1,660-$1,660
Total Functional Expenses$5,090,777$613,436$0$5,704,213

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,704,213
Total Expenses per Audited Statements$5,704,213
Total Expenses per Form 990$5,704,213
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
Federal income taxes-
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
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Annie McKoy, board chair is the mother of the Headmaster, Thomas McKoy.”

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

“The executive director reviews the 990 and presents to the board of directors for approval.”

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

“At monthly board meetings the board discusses any potential conflicts of interest. If any member has a potential conflict that person does not participate in the decision-making process or vote on the matter.”

Form 990, Part VI, Section B, Line 15A

“Executive directors compensation is approved by the board and is based on comparability data and performance.”

Form 990, Part VI, Section B, Line 15B

“Officers do not receive compensation. Key employees salaries are based on the state salary scale.”

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Reaching All Minds
EIN
30-0707967
In Care Of
% Annie L Mckoy
Phone
9195961899
Address
2703 Holloway St, Durham, NC 27703

Signing Officer

Name
Annie L Mckoy
Title
Board Chair
Phone
9195961899
Signed
2024-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Annie L Mckoy
Formed
2012
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
64
Volunteers
8

Preparer

Firm
Rebekah Barr CPA PC
Address
1520 Nash Street N, Wilson, NC 27893
Preparer
Rebekah T Barr
Phone
2522946920
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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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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/ExplanationTxt0North Carolina charter schools are funded by the State and Local Governments. The School also receives various federal grants.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Annie McKoy, board chair is the mother of the Headmaster, Thomas McKoy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The executive director reviews the 990 and presents to the board of directors for approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2At monthly board meetings the board discusses any potential conflicts of interest. If any member has a potential conflict that person does not participate in the decision-making process or vote on the matter.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Executive directors compensation is approved by the board and is based on comparability data and performance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Officers do not receive compensation. Key employees salaries are based on the state salary scale.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents, school policies, and financial statements are available for viewing by the public at the organizations office upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02992294
IRS990/TotalAssetsEOYAmt03297223
IRS990/TotalAssetsGrp/BOYAmt02992294
IRS990/TotalAssetsGrp/EOYAmt03297223
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0444571
IRS990/TotalEmployeeCnt064
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0613436
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05090777
IRS990/TotalFunctionalExpensesGrp/TotalAmt05704213
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0185397
IRS990/TotalLiabilitiesEOYAmt0377734
IRS990/TotalLiabilitiesGrp/BOYAmt0185397
IRS990/TotalLiabilitiesGrp/EOYAmt0377734
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02806897
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02919489
IRS990/TotalProgramServiceExpensesAmt05090777
IRS990/TotalProgramServiceRevenueAmt05373424
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05817995
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02992294
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03297223
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02703 Holloway Street
IRS990/USAddress/CityNm0Durham
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027703
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.reachingallminds.com
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Annie L Mckoy
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum09195961899
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Reaching All Minds
ReturnHeader/Filer/BusinessNameControlTxt0REAC
ReturnHeader/Filer/EIN0300707967
ReturnHeader/Filer/InCareOfNm0% Annie L Mckoy
ReturnHeader/Filer/PhoneNum09195961899
ReturnHeader/Filer/USAddress/AddressLine1Txt02703 Holloway St
ReturnHeader/Filer/USAddress/CityNm0Durham
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027703
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271832948
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rebekah Barr CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01520 Nash Street N
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027893
ReturnHeader/PreparerPersonGrp/PhoneNum02522946920
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah T Barr
ReturnHeader/ReturnTs02024-05-03T07:31:32-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Annie
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Mckoy
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,297,223
Liabilities
$377,734
Net assets
$2,919,489
Revenue
$5,817,995
Expenses
$5,704,213
Net income
$113,782
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.47$0.30$2.17$5.73$6.48$0.75
2023Detailed filing. Detailed filing data is available for this year.$3.30$0.38$2.92$5.82$5.70$0.11
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.99$0.19$2.81$5.29$4.99$0.30
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.68$0.17$2.51$4.58$3.88$0.70
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.24$0.43$1.81$3.63$3.37$0.26