Civic Intelligence

Mariner Foundation

990 • Fiscal year 2022 • EIN 45-4997770

Jul 01, 2021 to Jun 30, 2022 • Filed on Jan 23, 2023

Organization ProfileN/A
1209 Little Rock RoadCharlotte, NC 28214

(704) 477-0547

Siviq Scores

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

Liabilities / Assets

95th percentile

1.10x

Higher debt load relative to assets than 95% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

13.66x

Higher debt load relative to revenue than 97% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Net Margin

11th percentile

-13%

Higher net margin than 11% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Asset Growth

37th percentile

-2.1%

Faster asset growth than 37% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

88th percentile

59%

Faster revenue growth than 88% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$22,191,927

Down $464,542 (-2.1%) from 2021

Net Assets

Down

-$2,308,997

Down $230,465 (-11%) from 2021

Liabilities

Down

$24,500,924

Down $234,077 (-0.9%) from 2021

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin11th percentile

Revenue

Up

$1,793,742

Up $663,517 (+59%) from 2021

Expenses

Up

$2,024,207

Up $355,338 (+21%) from 2021

Net Income

Up

-$230,465

Up $308,179 (+57%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

$30M$20M$10M$0-$10MAssets 2020: $23,417,175Liabilities 2020: $24,957,063Net Assets 2020: -$1,539,8882020Assets 2021: $22,656,469Liabilities 2021: $24,735,001Net Assets 2021: -$2,078,5322021Assets 2022: $22,191,927Liabilities 2022: $24,500,924Net Assets 2022: -$2,308,9972022Assets 2023: $23,879,788Liabilities 2023: $24,174,079Net Assets 2023: -$294,2912023Assets 2024: $23,747,932Liabilities 2024: $23,520,000Net Assets 2024: $227,9322024Assets 2025: $23,382,136Liabilities 2025: $23,070,000Net Assets 2025: $312,1362025

Highlighted filing

2022

Assets$22,191,927
Liabilities$24,500,924
Net Assets-$2,308,997
Open 2022 Filing

Operations Trend

Revenue Growth88th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $161,911Expenses 2020: $1,712,048Net Income 2020: -$1,550,1372020Revenue 2021: $1,130,225Expenses 2021: $1,668,869Net Income 2021: -$538,6442021Revenue 2022: $1,793,742Expenses 2022: $2,024,207Net Income 2022: -$230,4652022Revenue 2023: $4,110,065Expenses 2023: $2,095,359Net Income 2023: $2,014,7062023Revenue 2024: $2,799,457Expenses 2024: $2,277,234Net Income 2024: $522,2232024Revenue 2025: $2,035,020Expenses 2025: $1,950,816Net Income 2025: $84,2042025

Highlighted filing

2022

Revenue$1,793,742
Expenses$2,024,207
Net Income-$230,465
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Jan 23, 2023
Return Version
2021v4.1
Gross Receipts
$1,793,742
Mission and Program Overview

Mission

To help Mountain Island Day Community Charter School succeed by partnering parents and teachers and providing resources for the school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$17,852,190$19,461,655▲ $1,609,465
Savings and Temporary Cash Investments$4,770,779$2,528,527▼ $2,242,252
Cash and Non-Interest-Bearing Accounts$33,500$201,745▲ $168,245
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$22,656,469$22,191,927▼ $464,542
Other Assets Total-$0-
Liabilities
Tax Exempt Bond Liabilities$24,300,000$24,055,000▼ $245,000
Unsecured Notes Loans Payable$435,000$300,000▼ $135,000
Deferred Revenue-$145,924-
Other Liabilities$1--
Total Liabilities$24,735,001$24,500,924▼ $234,077
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-2,078,532$-2,308,997▼ $230,465
Total Net Assets Fund Balance$-2,078,532$-2,308,997▼ $230,465
Total Liabilities and Net Assets / Fund Balance$22,656,469$22,191,927▼ $464,542

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,431,291$720,289$19,151,580
Land$1,030,364-$1,030,364
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Bitika WilliamsPresident
Bill TraceyDirector
Daniel TartDirector
Tammy WinsteadDirector
Tom WinsteadDirector
Vermaine SheltonDirector
Virginia StaleyDirector
Stephanie HillSecretary
Sarah ScholzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$470,066
Program Service Revenue
$1,320,157
Investment Income
$3,519
Other Revenue
$0
Change in Net Assets
$-230,465

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,793,742
Total Revenue per Audited Statements
$1,793,742
Total Revenue per Form 990
$1,793,742
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,024,207
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$1,392,975--$1,392,975
Depreciation Depletion$403,262--$403,262
Other Expenses$227,970--$227,970
Total Functional Expenses$2,024,207$0$0$2,024,207

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,024,207
Total Expenses per Audited Statements$2,024,207
Total Expenses per Form 990$2,024,207
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority2019-12-23$24,300,000School Construction

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$24,300,000$2,387-$485,998

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Two board members are husband and wife and are also paid employees of the Mountain Island Day Community Charter School which is closely-related to the Foundation (see Schedule R).”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is prepared by an independent CPA and reviewed by the organization's board chair. She notifies the other board members that Form 990 is available for review.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“New board members are made aware of the need to disclose potential conflicts of interest as soon as they become aware of a potential conflict. Annually, the board chair reminds the board members of their duty to disclose potential conflicts.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Foundation is directed by volunteers and has no paid employees.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“Form 990 is publicly-available at guidestar.org or from the organization upon request.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents are available at the NC Secretary of State's website or from the organization upon request.”

Filing and Contact Details

Filer

Filer Name
Mariner Foundation
EIN
45-4997770
Phone
7044770547
Address
1209 Little Rock Road, Charlotte, NC 28214

Signing Officer

Name
Sarah Scholz
Title
Treasurer
Signed
2023-01-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bitika Williams
Formed
2012
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
7
Employees
0
Volunteers
100

Preparer

Firm
Bearmancpa Pllc
Address
124 Cavalier Dr, WILMINGTON, NC 28403
Preparer
Nigel Bearman
Phone
9105080630
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IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt068291
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01320157
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt033439
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02502219
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt058157
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IRS990ScheduleA/InvestmentIncomeCYPct00.00000
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt033439
IRS990ScheduleA/Total509Grp/TotalAmt03051026
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01793742
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01130225
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0161911
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt033439
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03119317
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0720289
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IRS990ScheduleD/ExpensesSubtotalAmt02024207
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01030364
IRS990ScheduleD/RevenueSubtotalAmt01793742
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019461655
IRS990ScheduleD/TotalExpensesPerForm990Amt02024207
IRS990ScheduleD/TotalRevenuePerForm990Amt01793742
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0true
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02019-12-23
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/UnspentAmt0452278
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Two board members are husband and wife and are also paid employees of the Mountain Island Day Community Charter School which is closely-related to the Foundation (see Schedule R).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is prepared by an independent CPA and reviewed by the organization's board chair. She notifies the other board members that Form 990 is available for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2New board members are made aware of the need to disclose potential conflicts of interest as soon as they become aware of a potential conflict. Annually, the board chair reminds the board members of their duty to disclose potential conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Foundation is directed by volunteers and has no paid employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990 is publicly-available at guidestar.org or from the organization upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents are available at the NC Secretary of State's website or from the organization upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,191,927
Liabilities
$24,500,924
Net assets
-$2,308,997
Revenue
$1,793,742
Expenses
$2,024,207
Net income
-$230,465
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$23.4$23.1$0.31$2.04$1.95$0.08
2024Detailed filing. Detailed filing data is available for this year.$23.7$23.5$0.23$2.80$2.28$0.52
2023Detailed filing. Detailed filing data is available for this year.$23.9$24.2$0.29$4.11$2.10$2.01
2022Detailed filing. Detailed filing data is available for this year.$22.2$24.5$2.31$1.79$2.02$0.23
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.7$24.7$2.08$1.13$1.67$0.54
2020Summary only. Only limited summary data is available for this year.$23.4$25.0$1.54$0.16$1.71$1.55