Civic Intelligence

A C E Academy

990 • Fiscal year 2018 • EIN 32-0407024

Jul 01, 2017 to Jun 30, 2018 • Filed on Dec 21, 2018

Organization ProfileWWW.ACEACADEMYCHARTER.ORG
7807 Caldwell RoadHarrisburg, NC 28075

(800) 494-4330

Siviq Scores

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

Liabilities / Assets

68th percentile

0.35x

Higher debt load relative to assets than 68% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

56th percentile

0.13x

Higher debt load relative to revenue than 56% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Net Margin

62nd percentile

8.8%

Higher net margin than 62% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Asset Growth

94th percentile

132%

Faster asset growth than 94% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

68th percentile

15%

Faster revenue growth than 68% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$1,348,348

Up $767,430 (+132%) from 2017

Net Assets

Up

$876,396

Up $330,404 (+61%) from 2017

Liabilities

Up

$471,952

Up $437,026 (+1251%) from 2017

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin62nd percentile

Revenue

Up

$3,766,585

Up $481,535 (+15%) from 2017

Expenses

Up

$3,436,181

Up $551,262 (+19%) from 2017

Net Income

Down

$330,404

Down $69,727 (-17%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$30M$20M$10M$0Assets 2017: $580,918Liabilities 2017: $34,926Net Assets 2017: $545,9922017Assets 2018: $1,348,348Liabilities 2018: $471,952Net Assets 2018: $876,3962018Assets 2019: $1,478,552Liabilities 2019: $104,206Net Assets 2019: $1,374,3462019Assets 2020: $7,757,210Liabilities 2020: $7,145,555Net Assets 2020: $611,6552020Assets 2021: $8,029,456Liabilities 2021: $7,054,472Net Assets 2021: $974,9842021Assets 2022: $20,004,076Liabilities 2022: $19,228,533Net Assets 2022: $775,5432022Assets 2023: $7,500,939Liabilities 2023: $6,721,176Net Assets 2023: $779,7632023Assets 2024: $7,142,652Liabilities 2024: $6,487,048Net Assets 2024: $655,6042024

Highlighted filing

2018

Assets$1,348,348
Liabilities$471,952
Net Assets$876,396
Open 2018 Filing

Operations Trend

Revenue Growth68th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $3,285,050Expenses 2017: $2,884,919Net Income 2017: $400,1312017Revenue 2018: $3,766,585Expenses 2018: $3,436,181Net Income 2018: $330,4042018Revenue 2019: $4,369,017Expenses 2019: $3,871,067Net Income 2019: $497,9502019Revenue 2020: $4,170,164Expenses 2020: $4,020,464Net Income 2020: $149,7002020Revenue 2021: $4,614,442Expenses 2021: $4,251,113Net Income 2021: $363,3292021Revenue 2022: $5,341,670Expenses 2022: $5,541,111Net Income 2022: -$199,4412022Revenue 2023: $5,616,760Expenses 2023: $5,611,391Net Income 2023: $5,3692023Revenue 2024: $5,645,946Expenses 2024: $5,770,105Net Income 2024: -$124,1592024

Highlighted filing

2018

Revenue$3,766,585
Expenses$3,436,181
Net Income$330,404
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Dec 21, 2018
Return Version
2017v2.3
Gross Receipts
$3,766,585
Mission and Program Overview

Mission

Ace academy will equip students from all backgrounds to succeed in the college and career of their choice by driving academic excellence, developing a strong mindset, and instilling an entrepreneurial mindset.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$227,209$904,404▲ $677,195
Cash and Non-Interest-Bearing Accounts$291,063$342,024▲ $50,961
Accounts Receivable$58,946$98,220▲ $39,274
Total Assets$580,918$1,348,348▲ $767,430
Other Assets Total$3,700$3,700→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property-$433,246-
Accounts Payable and Accrued Expenses$34,926$38,706▲ $3,780
Total Liabilities$34,926$471,952▲ $437,026
Net Assets / Fund Balance
Unrestricted Net Assets$545,992$876,396▲ $330,404
Total Net Assets Fund Balance$545,992$876,396▲ $330,404
Total Liabilities and Net Assets / Fund Balance$580,918$1,348,348▲ $767,430

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$835,668$34,162$869,830
Equipment$33,201$11,742$44,943
Other Land Buildings$35,535$4,965$40,500
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Shawn SmallsBoard Chair
Chyncia RodgersBoard Member
Dawn HammondBoard Member
Eugene HunterBoard Member
Yolanda DavisBoard Member
Laila MinottExecutive Di
Adolphe ThorpeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,570,997
Program Service Revenue
$195,588
Investment Income
$0
Other Revenue
$0
All Other Contributions
$117,975
Change in Net Assets
$330,404

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,766,585
Total Revenue per Audited Statements
$3,766,585
Total Revenue per Form 990
$3,766,585
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,906,238
Other Expenses$1,529,943
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,377,281$144,719-$1,522,000
Occupancy-$459,483-$459,483
Payroll Taxes$117,238$267,000-$384,238
Fees for Services Other$185,404$115,448-$300,852
Conferences and Meetings$40,699$6,243-$46,942
Travel$587$44,976-$45,563
Advertising-$44,761-$44,761
Depreciation Depletion$35,780$6,314-$42,094
Other Expenses$30,085$41,098-$30,085
Interest-$20,559-$20,559
Office Expenses-$19,033-$19,033
Fees for Services Legal-$10,131-$10,131
Fees for Services Accounting-$9,650-$9,650
All Other Expenses$1,185$3,771-$4,956
Total Functional Expenses$2,192,407$1,243,774$0$3,436,181

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,436,181
Total Expenses per Audited Statements$3,436,181
Total Expenses per Form 990$3,436,181
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
No
Audit committee
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
No
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 board of directors will review the form 990 prior to filing.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents and financial statements are available to the public at the front of the school office.”

Filing and Contact Details

Filer

Filer Name
Ace Academy
EIN
32-0407024
Address
7807 CALDWELL ROAD, HARRISBURG, NC 28075

Signing Officer

Name
Laila Minott
Title
Executive Director
Signed
2018-12-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laila Minott
Formed
2012
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
32
Volunteers
10

Preparer

Firm
Rives & Associates Llp
Address
212 W CENTER ST, LEXINGTON, NC 27292-3012
Preparer
W Leon Rives
Phone
3362488281
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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/SupplementalInformationDetail/ExplanationTxt0A.C.E. ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1A.C.E. ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL IS ORGANIZED AS A CHARTER SCHOOL UNDER NORTH CAROLINA GENERAL STATUTE 115C-238 29A. ACCORDINGLY, IT RECEIVES BOTH FEDERAL AND STATE FUNDING AS ITS PRIMARY MEANS OF SUPPORT.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS WILL REVIEW THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT THE FRONT OF THE SCHOOL OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02192407
IRS990/TotalFunctionalExpensesGrp/TotalAmt03436181
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt034926
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IRS990/TotalLiabilitiesGrp/BOYAmt034926
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IRS990/TotalProgramServiceExpensesAmt02192407
IRS990/TotalProgramServiceRevenueAmt0195588
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0195588
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03766585
IRS990/TotalVolunteersCnt010
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01348348
IRS990/TravelGrp/ManagementAndGeneralAmt044976
IRS990/TravelGrp/ProgramServicesAmt0587
IRS990/TravelGrp/TotalAmt045563
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt0545992
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0876396
IRS990/UponRequestInd0X
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IRS990/USAddress/StateAbbreviationCd0NC
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IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.ACEACADEMYCHARTER.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LAILA MINOTT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-12-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACE ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0ACEA
ReturnHeader/Filer/EIN0320407024
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ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CFC4540E5A8D877B62CF7CEA6BACD25E26C527BE
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt066.77.128.118
ReturnHeader/FilingSecurityInformation/IPDt02018-12-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm005:51:42
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0200427530
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RIVES & ASSOCIATES LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0212 W CENTER ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LEXINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0272923012
ReturnHeader/PreparerPersonGrp/PhoneNum03362488281
ReturnHeader/PreparerPersonGrp/PreparationDt02018-12-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0W LEON RIVES
ReturnHeader/ReturnTs02018-12-21T06:51:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,348,348
Liabilities
$471,952
Net assets
$876,396
Revenue
$3,766,585
Expenses
$3,436,181
Net income
$330,404
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.14$6.49$0.66$5.65$5.77$0.12
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.50$6.72$0.78$5.62$5.61$0.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.0$19.2$0.78$5.34$5.54$0.20
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.03$7.05$0.97$4.61$4.25$0.36
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.76$7.15$0.61$4.17$4.02$0.15
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.48$0.10$1.37$4.37$3.87$0.50
2018Detailed filing. Detailed filing data is available for this year.$1.35$0.47$0.88$3.77$3.44$0.33
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.58$0.03$0.55$3.29$2.88$0.40