Civic Intelligence

Oak City Academy

990 • Fiscal year 2019 • EIN 32-0287816

Jul 01, 2018 to Jun 30, 2019 • Filed on Sep 05, 2019

Organization ProfileWWW.OAKCITYACADEMY.ORG
5029 Glen Creek TrailGarner, NC 27529

(919) 815-7742

Siviq Scores

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

Liabilities / Assets

39th percentile

0.00x

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

2019 filings • NTEE B • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

35th percentile

0.00x

Higher debt load relative to revenue than 35% of similar nonprofits.

2019 filings • NTEE B • $500k-$1M nonprofits • Source year 2019

Net Margin

76th percentile

18%

Higher net margin than 76% of similar nonprofits.

2019 filings • NTEE B • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

76th percentile

$62,700

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

2019 filings • NTEE B • $500k-$1M nonprofits • Source year 2019

Asset Growth

96th percentile

184%

Faster asset growth than 96% of similar nonprofits.

2019 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

87th percentile

55%

Faster revenue growth than 87% of similar nonprofits.

2019 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$204,078

Up $132,253 (+184%) from 2018

Net Assets

Up

$203,639

Up $138,168 (+211%) from 2018

Liabilities

Down

$439

Down $5,915 (-93%) from 2018

Revenue And Expenses
Liabilities / Revenue35th percentileNet Margin76th percentile

Revenue

Up

$776,178

Up $276,825 (+55%) from 2018

Expenses

Up

$638,010

Up $157,082 (+33%) from 2018

Net Income

Up

$138,168

Up $119,743 (+650%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$6.0M$4.0M$2.0M$0Assets 2017: $47,046Liabilities 2017: $0Net Assets 2017: $47,0462017Assets 2018: $71,825Liabilities 2018: $6,354Net Assets 2018: $65,4712018Assets 2019: $204,078Liabilities 2019: $439Net Assets 2019: $203,6392019Assets 2020: $650,282Liabilities 2020: $2,059Net Assets 2020: $648,2232020Assets 2021: $1,369,204Liabilities 2021: $306,650Net Assets 2021: $1,062,5542021Assets 2022: $1,535,901Liabilities 2022: $323,617Net Assets 2022: $1,212,2842022Assets 2023: $2,888,330Liabilities 2023: $1,589,566Net Assets 2023: $1,298,7642023Assets 2024: $4,611,636Liabilities 2024: $3,377,855Net Assets 2024: $1,233,7812024Assets 2025: $4,727,600Liabilities 2025: $3,415,739Net Assets 2025: $1,311,8612025

Highlighted filing

2019

Assets$204,078
Liabilities$439
Net Assets$203,639
Open 2019 Filing

Operations Trend

Revenue Growth87th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $471,254Expenses 2017: $474,094Net Income 2017: -$2,8402017Revenue 2018: $499,353Expenses 2018: $480,928Net Income 2018: $18,4252018Revenue 2019: $776,178Expenses 2019: $638,010Net Income 2019: $138,1682019Revenue 2020: $1,318,734Expenses 2020: $874,150Net Income 2020: $444,5842020Revenue 2021: $1,446,211Expenses 2021: $1,031,880Net Income 2021: $414,3312021Revenue 2022: $1,431,170Expenses 2022: $1,281,440Net Income 2022: $149,7302022Revenue 2023: $1,418,981Expenses 2023: $1,332,501Net Income 2023: $86,4802023Revenue 2024: $1,718,770Expenses 2024: $1,783,753Net Income 2024: -$64,9832024Revenue 2025: $2,511,052Expenses 2025: $2,435,002Net Income 2025: $76,0502025

Highlighted filing

2019

Revenue$776,178
Expenses$638,010
Net Income$138,168
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Sep 5, 2019
Return Version
2018v3.1
Gross Receipts
$776,178
Mission and Program Overview

Mission

To provide a classical, christian education for the urban community for grades pre-k through 12th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$69,552$178,610▲ $109,058
Land, Buildings, and Equipment, Net$2,273$25,468▲ $23,195
Total Assets$71,825$204,078▲ $132,253
Liabilities
Deferred Revenue$6,354$439▼ $5,915
Total Liabilities$6,354$439▼ $5,915
Net Assets / Fund Balance
Unrestricted Net Assets$65,471$203,639▲ $138,168
Total Net Assets Fund Balance$65,471$203,639▲ $138,168
Total Liabilities and Net Assets / Fund Balance$71,825$204,078▲ $132,253

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$23,823$283$24,106
Equipment$1,645$2,305$3,950
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Danny BreedHeadmaster/dFT$60,000$2,700$62,700

Board Members and Trustees

NameTitle
Betty LivermanDirector
Bob TouchtonDirector
Clarissa FlemmingDirector
Gadi RwayitareDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$274,211
Program Service Revenue
$501,967
Investment Income
$0
Other Revenue
$0
All Other Contributions
$274,211
Change in Net Assets
$138,168
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$454,430
Other Expenses$183,580
Total Fundraising Expense$46,317
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$345,226$14,384-$359,610
Occupancy$82,631$10,328$10,328$103,287
Current Officers, Directors, Trustees, and Key Employees$15,675$15,675$31,350$62,700
Payroll Taxes$24,732$4,176$3,212$32,120
Office Expenses$11,484$1,621$405$13,510
Fees for Services Other$5,455--$5,455
Other Expenses$5,151$4,228-$5,151
Insurance$3,104$1,198-$4,302
Fees for Services Legal-$3,870-$3,870
Information Technology$3,786--$3,786
All Other Expenses$1,257$2,441-$3,698
Advertising$341-$1,022$1,363
Depreciation Depletion$912--$912
Fees for Services Accounting-$900-$900
Total Functional Expenses$532,872$58,821$46,317$638,010
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
No
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, Page 6, Part VI, Line 11B

“The form 990 is provided to the headmaster to review prior to filing.”

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

“Oak city academy requires its board of directors to review and disclose any conflicts of interest annually. The policy is consistently monitored and enforced.”

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

“The compensation of the headmaster is evaluated annually by the board of directors and is based on performance measures as well as comparability to other organizatins.”

Form 990, Page 6, Part VI, Line 19

“Oak city academy makes its governing documents and conflict of interest policy available to the general public upon request.”

Filing and Contact Details

Filer

Filer Name
Oak City Academy
EIN
32-0287816
Phone
9198157742
Address
5029 GLEN CREEK TRAIL, GARNER, NC 27529

Signing Officer

Name
Danny Breed
Title
Headmaster/director
Phone
9198157742
Signed
2019-09-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Danny Breed
Formed
2009
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
4
Employees
26
Volunteers
40

Preparer

Firm
Maddison & Caison Llp
Address
1111 OBERLIN RD, RALEIGH, NC 27605-1136
Preparer
Susan Glendenning
Phone
9198215482
Raw XML Appendix347 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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0OAK CITY ACADEMY HAS PUBLICIZED ITS RACIAL NONDISCRIMINATION POLICY DURING PERIODS OF SOLICITATION AND REGISTRATION SO THAT THE POLICY IS KNOWN TO THE GENERAL COMMUNITY THE SCHOOL SERVES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PROVIDED TO THE HEADMASTER TO REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OAK CITY ACADEMY REQUIRES ITS BOARD OF DIRECTORS TO REVIEW AND DISCLOSE ANY CONFLICTS OF INTEREST ANNUALLY. THE POLICY IS CONSISTENTLY MONITORED AND ENFORCED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF THE HEADMASTER IS EVALUATED ANNUALLY BY THE BOARD OF DIRECTORS AND IS BASED ON PERFORMANCE MEASURES AS WELL AS COMPARABILITY TO OTHER ORGANIZATINS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OAK CITY ACADEMY MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-09-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUSAN GLENDENNING
ReturnHeader/ReturnTs02019-09-26T14:32:58-05:00
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ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$204,078
Liabilities
$439
Net assets
$203,639
Revenue
$776,178
Expenses
$638,010
Net income
$138,168
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.73$3.42$1.31$2.51$2.44$0.08
2024Detailed filing. Detailed filing data is available for this year.$4.61$3.38$1.23$1.72$1.78$0.06
2023Detailed filing. Detailed filing data is available for this year.$2.89$1.59$1.30$1.42$1.33$0.09
2022Detailed filing. Detailed filing data is available for this year.$1.54$0.32$1.21$1.43$1.28$0.15
2021Detailed filing. Detailed filing data is available for this year.$1.37$0.31$1.06$1.45$1.03$0.41
2020Detailed filing. Detailed filing data is available for this year.$0.65$0.00$0.65$1.32$0.87$0.44
2019Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.78$0.64$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.07$0.01$0.07$0.50$0.48$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.05$0.47$0.47$0.00