Civic Intelligence

A C E Academy

990 • Fiscal year 2017 • EIN 32-0407024

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 06, 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

41st percentile

0.06x

Higher debt load relative to assets than 41% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

26th percentile

0.01x

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

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Net Margin

71st percentile

12%

Higher net margin than 71% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

37th percentile

$14,198

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Balance Sheet
Liabilities / Assets41st percentile

Assets

$580,918

No earlier filing loaded for comparison.

Net Assets

$545,992

No earlier filing loaded for comparison.

Liabilities

$34,926

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin71st percentile

Revenue

$3,285,050

No earlier filing loaded for comparison.

Expenses

$2,884,919

No earlier filing loaded for comparison.

Net Income

$400,131

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

2017

Assets$580,918
Liabilities$34,926
Net Assets$545,992
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2017

Revenue$3,285,050
Expenses$2,884,919
Net Income$400,131
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 6, 2018
Return Version
2016v3.1
Gross Receipts
$3,285,050
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
Cash and Non-Interest-Bearing Accounts$106,745$291,063▲ $184,318
Land, Buildings, and Equipment, Net$81,771$227,209▲ $145,438
Accounts Receivable-$58,946-
Total Assets$192,216$580,918▲ $388,702
Other Assets Total$3,700$3,700→ $0
Liabilities
Accounts Payable and Accrued Expenses$46,355$34,926▼ $11,429
Total Liabilities$46,355$34,926▼ $11,429
Net Assets / Fund Balance
Unrestricted Net Assets$145,861$545,992▲ $400,131
Total Net Assets Fund Balance$145,861$545,992▲ $400,131
Total Liabilities and Net Assets / Fund Balance$192,216$580,918▲ $388,702

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$142,706$2,514$145,220
Leasehold Improvements$67,200$2,800$70,000
Equipment$17,303$3,461$20,764
Compensation and Service Providers
Top Officer Pay37th percentile

Employees

NameTitleBaseTotal
Dawn HammondBoard Member$14,198$14,198

Board Members and Trustees

NameTitle
Adolphe ThorpeChair
Shawn SmallsVice Chair
Eugene HunterBoard Member
Yolanda DavisBoard Member
Laila MinottExecutive Di
Ofelia AmadorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,075,193
Program Service Revenue
$209,857
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$400,131

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,285,050
Total Revenue per Audited Statements
$3,285,050
Total Revenue per Form 990
$3,285,050
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,584,780
Other Expenses$1,300,139
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,207,880$115,695-$1,323,575
Other Employee Benefits$137,807$2,933-$140,740
Payroll Taxes$111,149$9,316-$120,465
Other Expenses$120,257$914,286-$120,257
Depreciation Depletion$6,839$1,207-$8,046
Interest-$133-$133
Total Functional Expenses$1,841,349$1,043,570$0$2,884,919

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,884,919
Total Expenses per Audited Statements$2,884,919
Total Expenses per Form 990$2,884,919
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
2018-02-06
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
43
Volunteers
3

Preparer

Firm
Rives & Associates Llp
Address
4515 FALLS OF NEUSE ROAD SUITE 450, RALEIGH, NC 27609
Preparer
Thomas B Cornwell CPA
Phone
9198326848
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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.
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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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ReturnHeader/BusinessOfficerGrp/PersonNm0LAILA MINOTT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-06
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ReturnHeader/PreparerPersonGrp/PreparationDt02018-02-26
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ReturnHeader/ReturnTs02018-02-26T16:14:23-05:00
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ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$580,918
Liabilities
$34,926
Net assets
$545,992
Revenue
$3,285,050
Expenses
$2,884,919
Net income
$400,131
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
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
2017Detailed filing. Detailed filing data is available for this year.$0.58$0.03$0.55$3.29$2.88$0.40