Civic Intelligence

A C E Academy

990 • Fiscal year 2023 • EIN 32-0407024

Jul 01, 2022 to Jun 30, 2023 • Filed on Jul 15, 2024

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

(704) 456-7153

Siviq Scores

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

Liabilities / Assets

88th percentile

0.90x

Higher debt load relative to assets than 88% of similar nonprofits.

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

Liabilities / Revenue

84th percentile

1.20x

Higher debt load relative to revenue than 84% of similar nonprofits.

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

Net Margin

38th percentile

0.1%

Higher net margin than 38% of similar nonprofits.

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

Top Officer Pay

50th percentile

$133,559

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

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

Asset Growth

1st percentile

-63%

Faster asset growth than 1% of similar nonprofits.

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

Revenue Growth

49th percentile

5.1%

Faster revenue growth than 49% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$7,500,939

Down $12,503,137 (-63%) from 2022

Net Assets

Up

$779,763

Up $4,220 (+0.5%) from 2022

Liabilities

Down

$6,721,176

Down $12,507,357 (-65%) from 2022

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin38th percentile

Revenue

Up

$5,616,760

Up $275,090 (+5.1%) from 2022

Expenses

Up

$5,611,391

Up $70,280 (+1.3%) from 2022

Net Income

Up

$5,369

Up $204,810 (+103%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2023

Assets$7,500,939
Liabilities$6,721,176
Net Assets$779,763
Open 2023 Filing

Operations Trend

Revenue Growth49th 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

2023

Revenue$5,616,760
Expenses$5,611,391
Net Income$5,369
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jul 15, 2024
Return Version
2022v5.0
Gross Receipts
$5,616,760
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$5,592,804$5,359,425▼ $233,379
Cash and Non-Interest-Bearing Accounts$1,848,518$1,934,633▲ $86,115
Accounts Receivable$240,118$142,774▼ $97,344
Savings and Temporary Cash Investments-$60,407-
Prepaid Expenses and Deferred Charges$11,337--
Total Assets$20,004,076$7,500,939▼ $12,503,137
Other Assets Total$12,311,299$3,700▼ $12,307,599
Liabilities
Other Liabilities$19,119,844$6,600,000▼ $12,519,844
Accounts Payable and Accrued Expenses$108,689$121,176▲ $12,487
Total Liabilities$19,228,533$6,721,176▼ $12,507,357
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$775,543$779,763▲ $4,220
Total Net Assets Fund Balance$775,543$779,763▲ $4,220
Total Liabilities and Net Assets / Fund Balance$20,004,076$7,500,939▼ $12,503,137

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,402,614$693,660$5,096,274
Leasehold Improvements$956,811$347,576$1,304,387
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Laila MinottExecutive DiFT$133,559$133,559

Board Members and Trustees

NameTitle
Terry ClineChair
Chyncia RodgersMember
Dionna GrahamMember
Joyce FiguearoaMember
Kendric BestMember
Adolphe ThorpeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,383,863
Program Service Revenue
$151,236
Investment Income
$31,922
Other Revenue
$49,739
All Other Contributions
$13,510
Change in Net Assets
$5,369

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,616,760
Total Revenue per Audited Statements
$5,616,760
Total Revenue per Form 990
$5,616,760
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,355,201
Other Expenses$2,256,190
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,781,211$917,593-$2,698,804
Fees for Services Other$349,997$180,300-$530,297
Interest$297,504$153,259-$450,763
Other Employee Benefits$190,673$98,225-$288,898
All Other Expenses$212,592$35,520-$248,112
Payroll Taxes$154,400$79,540-$233,940
Depreciation Depletion$154,029$79,349-$233,378
Current Officers, Directors, Trustees, and Key Employees$88,149$45,410-$133,559
Other Expenses$69,447$43,249-$69,447
Travel$41,379$21,316-$62,695
Occupancy$36,851$18,984-$55,835
Insurance$25,243$13,005-$38,248
Information Technology$14,869$7,660-$22,529
Office Expenses$13,321$6,401-$19,722
Fees for Services Accounting$8,095$4,170-$12,265
Fees for Services Legal$5,692$2,933-$8,625
Total Functional Expenses$3,786,358$1,825,033$0$5,611,391

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,611,392
Expenses per Audited Statements$5,611,391
Total Expenses per Form 990$5,611,391
Expenses Not Reported on Form 990$1
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
More Than One Year$6,460,000
Within One Year$140,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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
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
Phone
7044567153
Address
7807 CALDWELL ROAD, HARRISBURG, NC 28075

Signing Officer

Name
Laila Minott
Title
Executive Director
Phone
7044567153
Signed
2024-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laila Minott
Formed
2012
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
91

Preparer

Firm
Sharpe Patel CPA
Address
325 ARLINGTON AVE STE 630, CHARLOTTE, NC 28203
Preparer
Megan a Ridgley CPA
Phone
7044993893
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“ROUNDING -6”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“Book / tax depreciation difference 1”

Raw XML AppendixShowing 400 of 431 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/PYOtherRevenueAmt0254311
IRS990/PYProgramServiceRevenueAmt06623
IRS990/PYRevenuesLessExpensesAmt0-199441
IRS990/PYSalariesCompEmpBnftPaidAmt02869575
IRS990/PYTotalExpensesAmt05541111
IRS990/PYTotalRevenueAmt05341670
IRS990/ReconcilationRevenueExpnssAmt05369
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0151236
IRS990/SavingsAndTempCashInvstGrp/EOYAmt060407
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/ExpensesNotReportedAmt01
IRS990ScheduleD/ExpensesSubtotalAmt05611391
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0956811
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0347576
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01304387
IRS990ScheduleD/OtherExpensesIncludedAmt01
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt04402614
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0693660
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05096274
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06460000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1140000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MORE THAN ONE YEAR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1WITHIN ONE YEAR
IRS990ScheduleD/RevenueSubtotalAmt05616760
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK / TAX DEPRECIATION DIFFERENCE 1
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05359425
IRS990ScheduleD/TotalExpensesPerForm990Amt05611391
IRS990ScheduleD/TotalLiabilityAmt06600000
IRS990ScheduleD/TotalRevenuePerForm990Amt05616760
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05616760
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05611392
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0false
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0false
IRS990ScheduleE/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0false
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0false
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/ExplanationTxt2ROUNDING -6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0ACE ACADEM
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0ACE ACADEMY FOUNDATION LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0841876607
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt05686185
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0RENTAL
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0629296
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt07807 CALDWELL ROAD
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0HARRISBURG
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd028075
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt020004076
IRS990/TotalAssetsEOYAmt07500939
IRS990/TotalAssetsGrp/BOYAmt020004076
IRS990/TotalAssetsGrp/EOYAmt07500939
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05383863
IRS990/TotalEmployeeCnt091
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01825033
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03786358
IRS990/TotalFunctionalExpensesGrp/TotalAmt05611391
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019228533
IRS990/TotalLiabilitiesEOYAmt06721176
IRS990/TotalLiabilitiesGrp/BOYAmt019228533
IRS990/TotalLiabilitiesGrp/EOYAmt06721176
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0775543
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0779763
IRS990/TotalProgramServiceExpensesAmt03786358
IRS990/TotalProgramServiceRevenueAmt0151236
IRS990/TotalReportableCompFromOrgAmt0133559
IRS990/TotalRevenueGrp/ExclusionAmt031922
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0200975
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05616760
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt020004076
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07500939
IRS990/TravelGrp/ManagementAndGeneralAmt021316
IRS990/TravelGrp/ProgramServicesAmt041379
IRS990/TravelGrp/TotalAmt062695
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07807 CALDWELL ROAD
IRS990/USAddress/CityNm0HARRISBURG
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028075
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.ACEACADEMYCHARTER.ORG
IRS990/WhistleblowerPolicyInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$7,500,939
Liabilities
$6,721,176
Net assets
$779,763
Revenue
$5,616,760
Expenses
$5,611,391
Net income
$5,369
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
2023Detailed filing. Detailed filing data is available for this year.$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
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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