Civic Intelligence

Belmont Academy Inc.

990 • Fiscal year 2017 • EIN 45-4185220

Jul 01, 2016 to Jun 30, 2017 • Filed on Oct 26, 2017

1476 Southwest Walter AvenueLake City, FL 32024

(386) 487-0454

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

54th percentile

4.0%

Higher net margin than 54% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

90th percentile

66%

Faster revenue growth than 90% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Up

$481,202

Up $47,591 (+11%) from 2016

Net Assets

Up

$481,202

Up $241,235 (+101%) from 2016

Liabilities

Down

$0

Down $193,644 (-100%) from 2016

Revenue

Up

$6,089,727

Up $2,411,945 (+66%) from 2016

Expenses

Up

$5,848,492

Up $2,091,007 (+56%) from 2016

Net Income

Up

$241,235

Up $320,938 (+403%) from 2016

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2012: $11,043Liabilities 2012: $0Net Assets 2012: $11,0432012Assets 2014: $271,590Liabilities 2014: $125Net Assets 2014: $271,4652014Assets 2015: $319,670Liabilities 2015: $0Net Assets 2015: $319,6702015Assets 2016: $433,611Liabilities 2016: $193,644Net Assets 2016: $239,9672016Assets 2017: $481,202Liabilities 2017: $0Net Assets 2017: $481,2022017Assets 2018: $503,252Liabilities 2018: $23,048Net Assets 2018: $480,2042018Assets 2019: $580,453Liabilities 2019: $15,664Net Assets 2019: $564,7892019Assets 2020: $893,280Liabilities 2020: $157,765Net Assets 2020: $735,5152020Assets 2021: $13,775,608Liabilities 2021: $12,269,898Net Assets 2021: $1,505,7102021Assets 2022: $14,484,950Liabilities 2022: $12,675,099Net Assets 2022: $1,809,8512022Assets 2023: $14,554,531Liabilities 2023: $12,277,901Net Assets 2023: $2,276,6302023Assets 2024: $14,599,630Liabilities 2024: $11,876,570Net Assets 2024: $2,723,0602024

Highlighted filing

2017

Assets$481,202
Liabilities$0
Net Assets$481,202

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2012: $43,899Expenses 2012: $32,856Net Income 2012: $11,0432012Revenue 2014: $1,962,803Expenses 2014: $1,693,049Net Income 2014: $269,7542014Revenue 2015: $2,519,028Expenses 2015: $2,436,445Net Income 2015: $82,5832015Revenue 2016: $3,677,782Expenses 2016: $3,757,485Net Income 2016: -$79,7032016Revenue 2017: $6,089,727Expenses 2017: $5,848,492Net Income 2017: $241,2352017Revenue 2018: $3,495,332Expenses 2018: $3,503,668Net Income 2018: -$8,3362018Revenue 2019: $4,091,971Expenses 2019: $4,007,386Net Income 2019: $84,5852019Revenue 2020: $4,504,843Expenses 2020: $4,334,117Net Income 2020: $170,7262020Revenue 2021: $5,247,045Expenses 2021: $5,236,942Net Income 2021: $10,1032021Revenue 2022: $7,186,771Expenses 2022: $6,882,630Net Income 2022: $304,1412022Revenue 2023: $7,942,153Expenses 2023: $7,413,957Net Income 2023: $528,1962023Revenue 2024: $8,308,263Expenses 2024: $7,861,833Net Income 2024: $446,4302024

Highlighted filing

2017

Revenue$6,089,727
Expenses$5,848,492
Net Income$241,235
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Oct 26, 2017
Return Version
2016v3.0
Gross Receipts
$6,089,727
Mission and Program Overview

Mission

Our mission at belmont academy is to prepare every enrolled student, regardless of the educational path chosen, with both the academic and social skills needed to become a perfectly functional member in our present day society. In simpler terms, the graduate of belmont academy will have been provided the opportunity to be ready....ready to think, ready to talk, and ready to listen. Ready to choose, ready to pursue and ready to achieve. Our commitment is to make belmont acadmey this place of learning, this place preparing. We believe we will attain this goal through visionary leadership, qualified, capable, and empowered teachers; and dedicated and involved parents. The belmont academy leadership team component,including members of both the school administration and the governing board, has a diverse business related background supporting its vision. A number of the members are actively involved in businesses with a regional presence, some with a national presence, and some with an inte

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$250,010-
Cash and Non-Interest-Bearing Accounts$404,590$221,050▼ $183,540
Prepaid Expenses and Deferred Charges$29,021--
Accounts Receivable-$10,142-
Total Assets$433,611$481,202▲ $47,591
Liabilities
Accounts Payable and Accrued Expenses$128,644--
Unsecured Notes Loans Payable$65,000--
Total Liabilities$193,644$0▼ $193,644
Net Assets / Fund Balance
Unrestricted Net Assets$189,601$446,067▲ $256,466
Temporarily Rstr Net Assets$50,366$35,135▼ $15,231
Total Net Assets Fund Balance$239,967$481,202▲ $241,235
Total Liabilities and Net Assets / Fund Balance$433,611$481,202▲ $47,591
Compensation and Service Providers

Board Members and Trustees

NameTitle
Russ RoccoChairman
Chad StewartDirector
Jessica KlanderudDirector
Katie TylerDirector
Luke SparksDirector
Will MyersSecretary
Jonny HandyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$54,195
Program Service Revenue
$3,065,532
Investment Income
$0
Other Revenue
$2,970,000
All Other Contributions
$38,000
Change in Net Assets
$241,235

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,089,727
Total Revenue per Audited Statements
$6,089,727
Total Revenue per Form 990
$6,089,727
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,941,937
Salaries, Compensation, and Employee Benefits$1,906,555
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$3,575,185$56,166-$3,631,351
Other Salaries and Wages$1,260,852$367,381-$1,628,233
Occupancy$239,760--$239,760
Payroll Taxes$99,382$28,648-$128,030
Other Employee Benefits$113,504$10,063-$123,567
Fees for Services Legal-$28,019-$28,019
Pension Plan Contributions$19,183$7,542-$26,725
Insurance$22,751$3,185-$25,936
Fees for Services Accounting-$15,776-$15,776
Interest-$1,095-$1,095
Total Functional Expenses$5,330,617$517,875$0$5,848,492

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,848,492
Total Expenses per Audited Statements$5,848,492
Total Expenses per Form 990$5,848,492
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
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
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

Form 990 is made available to all of the board members prior to submission.

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

BOARD APPROVES ANNUALLY

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

BOARD APPROVES ANNUALLY

Form 990, Page 6, Part VI, Line 19

AVAILABLE ON WEBSITE

Filing and Contact Details

Filer

Filer Name
Belmont Academy Inc
EIN
45-4185220
Phone
3864870454
Address
1476 SOUTHWEST WALTER AVENUE, LAKE CITY, FL 32024
Doing Business As
Belmont Academy Charter School

Signing Officer

Name
Russ Rocco
Title
Chairman
Phone
3864870454
Signed
2017-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Russ Rocco
Formed
2011
Legal Domicile
Fl
Voting Board Members
10
Independent Board Members
10
Employees
73
Volunteers
620

Preparer

Firm
REDDISH & WHITE CPA'S
Address
PO BOX 307, STARKE, FL 32091-0307
Preparer
Brad Million
Phone
9049647555
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Our mission at belmont academy is to prepare every enrolled student, regardless of the educational path chosen, with both the academic and social skills needed to become a perfectly functional member in our present day society. In simpler terms, the graduate of belmont academy will have been provided the opportunity to be ready....ready to think, ready to talk, and ready to listen. Ready to choose, ready to pursue and ready to achieve. Our commitment is to make belmont acadmey this place of learning, this place preparing. We believe we will attain this goal through visionary leadership, qualified, capable, and empowered teachers; and dedicated and involved parents. The belmont academy leadership team component,including members of both the school administration and the governing board, has a diverse business related background supporting its vision. A number of the members are actively involved in businesses with a regional presence, some with a national presence, and some with an international presence. Understanding the challenges which exist in an ever-changing global community and having the foresight required to adapt to these changes, these members bring a unique experience to the team which, coupled with the educational background of other members, creates a capacity to keep the student population on the cutting edge of educational requirements-the requirements needed not only to succeed today and tomorrow, but in the tomorrows to come. Our teachers will be encouraged to think, to develop, to execute, and to produce. Our teachers will understand the opportunity they have to postiively engage and affect their students and will have the passion to do so.

Form 990, Page 2, Part III, Line 4D

QUALITY K THRU 12 SCHOOL

Form 990, Part IX, Line 11G

Material and supplies 238,180 11,886 0 internet and telephone 21,545 0 0 equipment rental 11,310 0 0 sub-contract labor 10,713 0 0 professional development 5,235 0 0 dues & fees 9,619 43,723 0 meals and lunches 0 557 0 repairs and maintenance 55,635 0 0 utilities 80,896 0 0 capital improvements 3,015,669 0 0 debt service 126,383 0 0 total 3,575,185 56,166 0

Raw XML Appendix352 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OUR MISSION AT BELMONT ACADEMY IS TO PREPARE EVERY ENROLLED STUDENT, REGARDLESS OF THE EDUCATIONAL PATH CHOSEN, WITH BOTH THE ACADEMIC AND SOCIAL SKILLS NEEDED TO BECOME A PERFECTLY FUNCTIONAL MEMBER IN OUR PRESENT DAY SOCIETY. IN SIMPLER TERMS, THE GRADUATE OF BELMONT ACADEMY WILL HAVE BEEN PROVIDED THE OPPORTUNITY TO BE READY....READY TO THINK, READY TO TALK, AND READY TO LISTEN. READY TO CHOOSE, READY TO PURSUE AND READY TO ACHIEVE. OUR COMMITMENT IS TO MAKE BELMONT ACADMEY THIS PLACE OF LEARNING, THIS PLACE PREPARING. WE BELIEVE WE WILL ATTAIN THIS GOAL THROUGH VISIONARY LEADERSHIP, QUALIFIED, CAPABLE, AND EMPOWERED TEACHERS; AND DEDICATED AND INVOLVED PARENTS. THE BELMONT ACADEMY LEADERSHIP TEAM COMPONENT,INCLUDING MEMBERS OF BOTH THE SCHOOL ADMINISTRATION AND THE GOVERNING BOARD, HAS A DIVERSE BUSINESS RELATED BACKGROUND SUPPORTING ITS VISION. A NUMBER OF THE MEMBERS ARE ACTIVELY INVOLVED IN BUSINESSES WITH A REGIONAL PRESENCE, SOME WITH A NATIONAL PRESENCE, AND SOME WITH AN INTERNATIONAL PRESENCE. UNDERSTANDING THE CHALLENGES WHICH EXIST IN AN EVER-CHANGING GLOBAL COMMUNITY AND HAVING THE FORESIGHT REQUIRED TO ADAPT TO THESE CHANGES, THESE MEMBERS BRING A UNIQUE EXPERIENCE TO THE TEAM WHICH, COUPLED WITH THE EDUCATIONAL BACKGROUND OF OTHER MEMBERS, CREATES A CAPACITY TO KEEP THE STUDENT POPULATION ON THE CUTTING EDGE OF EDUCATIONAL REQUIREMENTS-THE REQUIREMENTS NEEDED NOT ONLY TO SUCCEED TODAY AND TOMORROW, BUT IN THE TOMORROWS TO COME. OUR TEACHERS WILL BE ENCOURAGED TO THINK, TO DEVELOP, TO EXECUTE, AND TO PRODUCE. OUR TEACHERS WILL UNDERSTAND THE OPPORTUNITY THEY HAVE TO POSTIIVELY ENGAGE AND AFFECT THEIR STUDENTS AND WILL HAVE THE PASSION TO DO SO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1QUALITY K THRU 12 SCHOOL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS MADE AVAILABLE TO ALL OF THE BOARD MEMBERS PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD APPROVES ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD APPROVES ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE ON WEBSITE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MATERIAL AND SUPPLIES 238,180 11,886 0 INTERNET AND TELEPHONE 21,545 0 0 EQUIPMENT RENTAL 11,310 0 0 SUB-CONTRACT LABOR 10,713 0 0 PROFESSIONAL DEVELOPMENT 5,235 0 0 DUES & FEES 9,619 43,723 0 MEALS AND LUNCHES 0 557 0 REPAIRS AND MAINTENANCE 55,635 0 0 UTILITIES 80,896 0 0 CAPITAL IMPROVEMENTS 3,015,669 0 0 DEBT SERVICE 126,383 0 0 TOTAL 3,575,185 56,166 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRAD MILLION
ReturnHeader/ReturnTs02017-10-30T13:32:46-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

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