Civic Intelligence

Broadwater Academy Foundation

990 • Fiscal year 2014 • EIN 45-5245398

Jul 01, 2013 to Jun 30, 2014 • Filed on Oct 17, 2014

Organization Profilewww.broadwateracademy.org
PO Box 546Exmore, VA 23350

(757) 442-9041

Siviq Scores

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

Liabilities / Assets

50th percentile

0.11x

Higher debt load relative to assets than 50% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

65th percentile

0.25x

Higher debt load relative to revenue than 65% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

94th percentile

64%

Higher net margin than 94% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

91st percentile

44%

Faster asset growth than 91% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

96th percentile

165%

Faster revenue growth than 96% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$1,600,423

Up $489,053 (+44%) from 2013

Net Assets

Up

$1,425,821

Up $497,434 (+54%) from 2013

Liabilities

Down

$174,602

Down $8,381 (-4.6%) from 2013

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin94th percentile

Revenue

Up

$705,543

Up $439,004 (+165%) from 2013

Expenses

Down

$255,282

Down $43,087 (-14%) from 2013

Net Income

Up

$450,261

Up $482,091 (+1515%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $1,062,195Liabilities 2012: $0Net Assets 2012: $1,062,1952012Assets 2013: $1,111,370Liabilities 2013: $182,983Net Assets 2013: $928,3872013Assets 2014: $1,600,423Liabilities 2014: $174,602Net Assets 2014: $1,425,8212014Assets 2015: $1,644,647Liabilities 2015: $169,272Net Assets 2015: $1,475,3752015Assets 2016: $1,666,897Liabilities 2016: $162,347Net Assets 2016: $1,504,5502016Assets 2017: $1,700,263Liabilities 2017: $155,670Net Assets 2017: $1,544,5932017Assets 2018: $1,732,718Liabilities 2018: $147,759Net Assets 2018: $1,584,9592018Assets 2019: $1,644,235Liabilities 2019: $141,034Net Assets 2019: $1,503,2012019Assets 2020: $1,605,084Liabilities 2020: $132,730Net Assets 2020: $1,472,3542020Assets 2021: $1,648,225Liabilities 2021: $124,518Net Assets 2021: $1,523,7072021Assets 2022: $1,533,258Liabilities 2022: $115,687Net Assets 2022: $1,417,5712022Assets 2023: $1,566,362Liabilities 2023: $106,252Net Assets 2023: $1,460,1102023Assets 2024: $1,593,421Liabilities 2024: $97,999Net Assets 2024: $1,495,4222024Assets 2025: $1,754,311Liabilities 2025: $88,670Net Assets 2025: $1,665,6412025

Highlighted filing

2014

Assets$1,600,423
Liabilities$174,602
Net Assets$1,425,821
Open 2014 Filing

Operations Trend

Revenue Growth96th percentile

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

$1.0M$500K$0-$500KRevenue 2012: $0Expenses 2012: $75Net Income 2012: -$752012Revenue 2013: $266,539Expenses 2013: $298,369Net Income 2013: -$31,8302013Revenue 2014: $705,543Expenses 2014: $255,282Net Income 2014: $450,2612014Revenue 2015: $166,409Expenses 2015: $173,983Net Income 2015: -$7,5742015Revenue 2016: $140,641Expenses 2016: $111,466Net Income 2016: $29,1752016Revenue 2017: $187,082Expenses 2017: $96,983Net Income 2017: $90,0992017Revenue 2018: $94,474Expenses 2018: $101,039Net Income 2018: -$6,5652018Revenue 2019: $35,396Expenses 2019: $143,350Net Income 2019: -$107,9542019Revenue 2020: $34,922Expenses 2020: $73,851Net Income 2020: -$38,9292020Revenue 2021: $75,477Expenses 2021: $86,730Net Income 2021: -$11,2532021Revenue 2022: $38,509Expenses 2022: $75,460Net Income 2022: -$36,9512022Revenue 2023: $95,144Expenses 2023: $80,463Net Income 2023: $14,6812023Revenue 2024: $71,011Expenses 2024: $82,165Net Income 2024: -$11,1542024Revenue 2025: $209,312Expenses 2025: $82,336Net Income 2025: $126,9762025

Highlighted filing

2014

Revenue$705,543
Expenses$255,282
Net Income$450,261
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Oct 17, 2014
Return Version
2013v3.1
Gross Receipts
$746,181
Mission and Program Overview

Mission

The organization's mission is to raise, manage and distribute funds solely for the benefit of the students of broadwater academy and for the improvements to the broadwater academy education, environment, including but not limited to, program enhancements, technological students of broadwater academy and for the improvements to the broadwater academy education, environment, including but not limited to, program enhancements, technological improvements, facilities enrichment, and scholarships for students

The organization's mission is to raise, manage, and distribute funds solely for the benefit of the students of broadwater academy and for improvements to the broadwater academy education environment, including, but not limited to, program enhancements, technological improvements, facilities improvements, faculty enrichment, and scholarships for students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,119$530,124▲ $529,005
Savings and Temporary Cash Investments$737,935$415,558▼ $322,377
Pledges and Grants Receivable$154,131$223,775▲ $69,644
Land, Buildings, and Equipment, Net$211,451$203,354▼ $8,097
Intangible Assets$6,734$5,985▼ $749
Total Assets$1,111,370$1,600,423▲ $489,053
Other Assets Total-$221,627-
Liabilities
Unsecured Notes Loans Payable$180,820$174,602▼ $6,218
Other Liabilities$2,163--
Total Liabilities$182,983$174,602▼ $8,381
Net Assets / Fund Balance
Unrestricted Net Assets$698,430$1,180,224▲ $481,794
Permanently Rstr Net Assets$165,694$176,855▲ $11,161
Temporarily Rstr Net Assets$64,263$68,742▲ $4,479
Total Net Assets Fund Balance$928,387$1,425,821▲ $497,434
Total Liabilities and Net Assets / Fund Balance$1,111,370$1,600,423▲ $489,053

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$129,269$7,882$137,151
Leasehold Improvements$53,453$8,077$61,530
Land$20,000-$20,000
Equipment$632$343$975
Other Assets Org$221,627--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$165,694-▲ $11,161-$176,855
2013$166,912-▼ $1,218-$165,694
2012-$166,912--$166,912
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Lucius Kellam IiiPresident
Elizabeth GordonBoard Direct
Thomas Hill JrBoard Direct
Edward Ames IvTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$687,603
Program Service Revenue
$0
Investment Income
$29,060
Other Revenue
$-11,120
All Other Contributions
$687,603
Change in Net Assets
$450,261
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$215,083
Professional Fundraising Fees$40,199
Total Fundraising Expense$40,199
Grants and Similar Amounts Paid$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Professional Fundraising--$40,199$40,199
Other Expenses$29,245--$29,245
Fees for Services Legal-$4,250-$4,250
Office Expenses-$3,296-$3,296
Depreciation Depletion$230--$230
Total Functional Expenses$207,537$7,546$40,199$255,282
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$40,199
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
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Organization governing members review form 990 before filing with irs.”

Form 990, Page 6, Part VI, Line 12C

“Each director or principal officer shall annually sign a statement which affirms such person: 1) has received a copy of the conflicts of interest policy; 2) has read and understands the policy; 3) has agreed to comply with the policy; and 4) understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. The policy includes procedures that involve 1) a duty to disclose; 2) determining whether a conflict of interest exists; 3) procedures for addressing the conflict of interest; and 4) additional steps if violations of the conflicts of interest policy exist.”

Form 990, Page 6, Part VI, Line 19

“Documents available to the public upon request.”

Filing and Contact Details

Filer

EIN
45-5245398

Signing Officer

Name
Edward Ames Iv
Title
Treasurer
Signed
2014-10-17
Discuss with paid preparer
Yes

Organization Details

Formed
2012
Legal Domicile
Va
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Preparer
Robert W Leatherbury CPA
Phone
7577874444
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization's mission is to raise, manage, and distribute funds solely for the benefit of the students of broadwater academy and for improvements to the broadwater academy education environment, including, but not limited to, program enhancements, technological improvements, facilities improvements, faculty enrichment, and scholarships for students.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference -4,030”

Raw XML Appendix353 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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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM BROADWATER ACADEMY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0203354
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0221627
IRS990ScheduleG/AgrmtProfFundraisingActyInd0true
IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0C CAMPAIGN
IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd0false
IRS990ScheduleG/FundraiserActivityInfoGrp/GrossReceiptsAmt0687603
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt0663150
IRS990ScheduleG/FundraiserActivityInfoGrp/OrganizationBusinessName/BusinessNameLine10THE CURTIS GROUP
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt024453
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine102512 SHEPHERDS LANE
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/City0VIRGINIA BEACH
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/State0VA
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/ZIPCode023454
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/PhoneSolicitationsInd0X
IRS990ScheduleG/TotalGrossReceiptsAmt0687603
IRS990ScheduleG/TotalNetToOrganizationAmt0663150
IRS990ScheduleG/TotalRetainedByContractorsAmt024453
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MISSION IS TO RAISE, MANAGE, AND DISTRIBUTE FUNDS SOLELY FOR THE BENEFIT OF THE STUDENTS OF BROADWATER ACADEMY AND FOR IMPROVEMENTS TO THE BROADWATER ACADEMY EDUCATION ENVIRONMENT, INCLUDING, BUT NOT LIMITED TO, PROGRAM ENHANCEMENTS, TECHNOLOGICAL IMPROVEMENTS, FACILITIES IMPROVEMENTS, FACULTY ENRICHMENT, AND SCHOLARSHIPS FOR STUDENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION GOVERNING MEMBERS REVIEW FORM 990 BEFORE FILING WITH IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH DIRECTOR OR PRINCIPAL OFFICER SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: 1) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; 2) HAS READ AND UNDERSTANDS THE POLICY; 3) HAS AGREED TO COMPLY WITH THE POLICY; AND 4) UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THE POLICY INCLUDES PROCEDURES THAT INVOLVE 1) A DUTY TO DISCLOSE; 2) DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS; 3) PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST; AND 4) ADDITIONAL STEPS IF VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -4,030
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt064263
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt068742
IRS990/TempOrPermanentEndowmentsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01111370
IRS990/TotalAssetsEOYAmt01600423
IRS990/TotalAssetsGrp/BOYAmt01111370
IRS990/TotalAssetsGrp/EOYAmt01600423
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0687603
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt040199
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07546
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0207537
IRS990/TotalFunctionalExpensesGrp/TotalAmt0255282
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0182983
IRS990/TotalLiabilitiesEOYAmt0174602
IRS990/TotalLiabilitiesGrp/BOYAmt0182983
IRS990/TotalLiabilitiesGrp/EOYAmt0174602
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0928387
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01425821
IRS990/TotalProgramServiceExpensesAmt0207537
IRS990/TotalRevenueGrp/ExclusionAmt017940
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0705543
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01111370
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01600423
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0698430
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01180224
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0180820
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0174602
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0EDWARD AMES IV
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-10-17
ReturnHeader/Filer/BusinessName/BusinessNameLine10BROADWATER ACADEMY FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0BROA
ReturnHeader/Filer/EIN0455245398
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 546
ReturnHeader/Filer/USAddress/City0EXMORE
ReturnHeader/Filer/USAddress/State0VA
ReturnHeader/Filer/USAddress/ZIPCode023350
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541254593
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10LEATHERBURY & BROACHE & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1023307 COURTHOUSE AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0ACCOMAC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode023301
ReturnHeader/PreparerPersonGrp/PhoneNum07577874444
ReturnHeader/PreparerPersonGrp/PreparationDt02014-10-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT W LEATHERBURY CPA
ReturnHeader/ReturnTs02014-10-28T15:15:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,600,423
Liabilities
$174,602
Net assets
$1,425,821
Revenue
$705,543
Expenses
$255,282
Net income
$450,261
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.75$0.09$1.67$0.21$0.08$0.13
2024Detailed filing. Detailed filing data is available for this year.$1.59$0.10$1.50$0.07$0.08$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.57$0.11$1.46$0.10$0.08$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.53$0.12$1.42$0.04$0.08$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.65$0.12$1.52$0.08$0.09$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.61$0.13$1.47$0.03$0.07$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.64$0.14$1.50$0.04$0.14$0.11
2018Detailed filing. Detailed filing data is available for this year.$1.73$0.15$1.58$0.09$0.10$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.70$0.16$1.54$0.19$0.10$0.09
2016Detailed filing. Detailed filing data is available for this year.$1.67$0.16$1.50$0.14$0.11$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.64$0.17$1.48$0.17$0.17$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.60$0.17$1.43$0.71$0.26$0.45
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.18$0.93$0.27$0.30$0.03
2012Summary only. Only limited summary data is available for this year.$1.06$0.00$1.06$0.00$0.00$0.00