Civic Intelligence

A C E Academy

990 • Fiscal year 2019 • EIN 32-0407024

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 07, 2020

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

46th percentile

0.07x

Higher debt load relative to assets than 46% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

34th percentile

0.02x

Higher debt load relative to revenue than 34% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Net Margin

69th percentile

11%

Higher net margin than 69% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

66th percentile

$106,945

Higher top officer pay than 66% of similar nonprofits.

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

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Asset Growth

61st percentile

9.7%

Faster asset growth than 61% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

72nd percentile

16%

Faster revenue growth than 72% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$1,478,552

Up $130,204 (+9.7%) from 2018

Net Assets

Up

$1,374,346

Up $497,950 (+57%) from 2018

Liabilities

Down

$104,206

Down $367,746 (-78%) from 2018

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin69th percentile

Revenue

Up

$4,369,017

Up $602,432 (+16%) from 2018

Expenses

Up

$3,871,067

Up $434,886 (+13%) from 2018

Net Income

Up

$497,950

Up $167,546 (+51%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth61st 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

2019

Assets$1,478,552
Liabilities$104,206
Net Assets$1,374,346
Open 2019 Filing

Operations Trend

Revenue Growth72nd 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

2019

Revenue$4,369,017
Expenses$3,871,067
Net Income$497,950
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 7, 2020
Return Version
2018v3.2
Gross Receipts
$4,369,017
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$904,404$947,861▲ $43,457
Cash and Non-Interest-Bearing Accounts$342,024$524,041▲ $182,017
Accounts Receivable$98,220$2,950▼ $95,270
Total Assets$1,348,348$1,478,552▲ $130,204
Other Assets Total$3,700$3,700→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$433,246--
Accounts Payable and Accrued Expenses$38,706$104,206▲ $65,500
Total Liabilities$471,952$104,206▼ $367,746
Net Assets / Fund Balance
Unrestricted Net Assets$876,396$1,374,346▲ $497,950
Total Net Assets Fund Balance$876,396$1,374,346▲ $497,950
Total Liabilities and Net Assets / Fund Balance$1,348,348$1,478,552▲ $130,204

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$893,901$70,934$964,835
Equipment$24,211$20,731$44,942
Other Land Buildings$29,749$10,751$40,500
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Laila MinottExecutive DiFT$99,745$7,200$106,945

Board Members and Trustees

NameTitle
Gwen AbdullahBoard Chair
Chyncia RodgersBoard Member
Dionna GrahamBoard Member
Kendric BestBoard Member
Adolphe ThorpeTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Vertex I LLCRentPO BOX 456, Price, UT 84501$361,588
Revenue and Support

Revenue Composition

Contributions and Grants
$4,079,599
Program Service Revenue
$288,489
Investment Income
$929
Other Revenue
$0
All Other Contributions
$555,480
Change in Net Assets
$497,950

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,369,017
Total Revenue per Audited Statements
$4,369,017
Total Revenue per Form 990
$4,369,017
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,085,812
Other Expenses$1,785,255
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,499,878$177,185-$1,677,063
Occupancy$10,905$451,337-$462,242
Other Employee Benefits$119,241$289,508-$408,749
Office Expenses$194,957$123,043-$318,000
Fees for Services Other$187,821--$187,821
Fees for Services Legal-$139,732-$139,732
Travel$1,916$62,426-$64,342
Advertising-$58,750-$58,750
Other Expenses$33,578$21,229-$54,807
Depreciation Depletion$43,815$7,732-$51,547
All Other Expenses$39,580--$39,580
Interest-$35,838-$35,838
Information Technology-$31,097-$31,097
Fees for Services Accounting-$21,395-$21,395
Total Functional Expenses$2,354,126$1,516,941$0$3,871,067

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,871,067
Total Expenses per Audited Statements$3,871,067
Total Expenses per Form 990$3,871,067
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
2020-07-07
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
60
Volunteers
12

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
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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/TotalProgramServiceRevenueAmt0288489
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IRS990/TravelGrp/ProgramServicesAmt01916
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IRS990/WebsiteAddressTxt0WWW.ACEACADEMYCHARTER.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LAILA MINOTT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACE ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0ACEA
ReturnHeader/Filer/EIN0320407024
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt066.77.128.118
ReturnHeader/FilingSecurityInformation/IPDt02020-07-07
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:53:16
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/PreparationDt02020-07-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0W LEON RIVES
ReturnHeader/ReturnTs02020-07-07T10:53:16-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,478,552
Liabilities
$104,206
Net assets
$1,374,346
Revenue
$4,369,017
Expenses
$3,871,067
Net income
$497,950
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
2019Detailed filing. Detailed filing data is available for this year.$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