Civic Intelligence

Falls Lake Academy

EIN 46-1167805 • 501(c)3 • Creedmoor, NC

Profile

Falls lake academy seeks to create a challenging learning environment while striving to meet the academic, social, and emotional needs of our 21st century learners to prepare them for citizenship, leadership, and success in a rapidly changing world. Our school promotes a safe, orderly, caring and supportive community. Each student's self-esteem is fostered by positive relationships with students and staff. We strive to have our parents, teachers, and community members actively involved in our student's learning.

1701 E Lyon Station RoadCreedmoor, NC 27522

www.fallslakeacademy.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

56th percentile

0.78x

Higher debt load relative to assets than 56% of similar nonprofits.

NTEE B29 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

65th percentile

1.41x

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

NTEE B29 • $10M-$25M nonprofits • Source year 2024

Net Margin

74th percentile

6.1%

Higher net margin than 74% of similar nonprofits.

NTEE B29 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

47th percentile

$129,990

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

NTEE B29 • $10M-$25M nonprofits • Source year 2024

Asset Growth

56th percentile

2.0%

Faster asset growth than 56% of similar nonprofits.

NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

55th percentile

6.9%

Faster revenue growth than 55% of similar nonprofits.

NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$24,911,864

Up $493,729 (+2.0%) from 2023

Liabilities

Down

$19,342,956

Down $336,189 (-1.7%) from 2023

Net Assets

Up

$5,568,908

Up $829,918 (+18%) from 2023

Operations
Liabilities / Revenue65th percentileNet Margin74th percentile

Revenue

Up

$13,682,611

Up $879,257 (+6.9%) from 2023

Expenses

Up

$12,852,693

Up $1,003,438 (+8.5%) from 2023

Net Income

Down

$829,918

Down $124,181 (-13%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth56th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2014: $340,730Liabilities 2014: $69,165Net Assets 2014: $271,5652014Assets 2015: $12,406,616Liabilities 2015: $12,168,172Net Assets 2015: $238,4442015Assets 2016: $12,224,443Liabilities 2016: $11,927,999Net Assets 2016: $296,4442016Assets 2017: $12,312,769Liabilities 2017: $11,699,698Net Assets 2017: $613,0712017Assets 2018: $18,445,986Liabilities 2018: $17,386,848Net Assets 2018: $1,059,1382018Assets 2019: $22,864,129Liabilities 2019: $20,949,103Net Assets 2019: $1,915,0262019Assets 2020: $23,108,673Liabilities 2020: $20,610,050Net Assets 2020: $2,498,6232020Assets 2021: $23,874,712Liabilities 2021: $20,324,852Net Assets 2021: $3,549,8602021Assets 2022: $23,813,178Liabilities 2022: $20,028,287Net Assets 2022: $3,784,8912022Assets 2023: $24,418,135Liabilities 2023: $19,679,145Net Assets 2023: $4,738,9902023Assets 2024: $24,911,864Liabilities 2024: $19,342,956Net Assets 2024: $5,568,9082024

Highlighted filing

2024

Assets$24,911,864
Liabilities$19,342,956
Net Assets$5,568,908
Open 2024 Filing

Operations Trend

Revenue Growth55th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2014: $2,560,364Expenses 2014: $2,289,509Net Income 2014: $270,8552014Revenue 2015: $3,352,590Expenses 2015: $3,385,711Net Income 2015: -$33,1212015Revenue 2016: $4,613,588Expenses 2016: $4,555,588Net Income 2016: $58,0002016Revenue 2017: $5,817,167Expenses 2017: $5,500,540Net Income 2017: $316,6272017Revenue 2018: $8,367,318Expenses 2018: $7,921,251Net Income 2018: $446,0672018Revenue 2019: $10,094,057Expenses 2019: $9,238,169Net Income 2019: $855,8882019Revenue 2020: $10,816,343Expenses 2020: $10,232,746Net Income 2020: $583,5972020Revenue 2021: $10,593,661Expenses 2021: $9,542,424Net Income 2021: $1,051,2372021Revenue 2022: $12,156,063Expenses 2022: $11,921,032Net Income 2022: $235,0312022Revenue 2023: $12,803,354Expenses 2023: $11,849,255Net Income 2023: $954,0992023Revenue 2024: $13,682,611Expenses 2024: $12,852,693Net Income 2024: $829,9182024

Highlighted filing

2024

Revenue$13,682,611
Expenses$12,852,693
Net Income$829,918
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$24,911,864
Liabilities
$19,342,956
Net assets
$5,568,908
Revenue
$13,682,611
Expenses
$12,852,693
Net income
$829,918
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.9$19.3$5.57$13.7$12.9$0.83
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.4$19.7$4.74$12.8$11.8$0.95
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.8$20.0$3.78$12.2$11.9$0.24
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.9$20.3$3.55$10.6$9.54$1.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.1$20.6$2.50$10.8$10.2$0.58
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.9$20.9$1.92$10.1$9.24$0.86
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.4$17.4$1.06$8.37$7.92$0.45
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.3$11.7$0.61$5.82$5.50$0.32
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.2$11.9$0.30$4.61$4.56$0.06
2015Detailed filing. Detailed filing data is available for this year.$12.4$12.2$0.24$3.35$3.39$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.34$0.07$0.27$2.56$2.29$0.27
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 25, 2023
Return Version
2021v4.2
Gross Receipts
$12,156,063
Mission and Program Overview

Mission

Falls lake academy seeks to create a challenging learning environment while striving to meet the academic, social, and emotional needs of our 21st century learners to prepare them for citizenship, leadership, and success in a rapidly changing world. Our school promotes a safe, orderly, caring and supportive community. Each student's self-esteem is fostered by positive relationships with students and staff. We strive to have our parents, teachers, and community members actively involved in our student's learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$17,767,777$17,050,198▼ $717,579
Cash and Non-Interest-Bearing Accounts$5,525,510$6,762,980▲ $1,237,470
Rtn Earn Endowment Incm Other Fnds$5,966,494$6,605,392▲ $638,898
Savings and Temporary Cash Investments$569,153--
Prepaid Expenses and Deferred Charges$12,273$0▼ $12,273
Cap Stk Tr Prin Current Funds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$-2,416,634$-2,820,501▼ $403,867
Total Assets$23,874,713$23,813,178▼ $61,535
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,184,413$19,870,699▼ $313,714
Accounts Payable and Accrued Expenses$140,440$157,588▲ $17,148
Total Liabilities$20,324,853$20,028,287▼ $296,566
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,549,860$3,784,891▲ $235,031
Total Liabilities and Net Assets / Fund Balance$23,874,713$23,813,178▼ $61,535

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,562,628$3,810,998-
Other Land Buildings$52,164$65,662-
Land$357,014--
Equipment$78,392$160,391-
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Amy HobgoodExecutive DirectorFT$113,554$15,076$128,630

Board Members and Trustees

NameTitle
Brian MassengillChairman
Kevin NolteVice-chair
Crystal GrantBoard Member
Donald EnnisBoard Member
Trey BrooksBoard Member
La-shell JohnsonSecretary
Velvet NelsonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Charter Success Partners LLCFinancial ManagementPO BOX 71092, Durham, NC 27704$214,626
Revenue and Support

Revenue Composition

Contributions and Grants
$11,945,302
Program Service Revenue
$210,761
Investment Income
$0
Other Revenue
$0
All Other Contributions
$480,559
Change in Net Assets
$235,031

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,156,063
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$12,156,063
Total Revenue per Form 990
$12,156,063
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,921,032
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-$628,814-$628,814
Other Expenses$188,096--$188,096
Total Functional Expenses$11,292,218$628,814$0$11,921,032

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,921,032
Total Expenses per Audited Statements$11,921,032
Total Expenses per Form 990$11,921,032
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Yes
Audit committee
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A draft copy of the 990 return was given to the board of directors for review.”

Form 990, Part VI, Section B, Line 15A

“The board of directors reviewed comparable salary data to determine the principal's salary”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are available for public inspection at the oranization's office upon request. Organization staff are available to provide supervision and answer any questions the inquiring party may have.”

Filing and Contact Details

Filer

Filer Name
Falls Lake Academy
EIN
46-1167805
Phone
9199649003
Address
1701 E LYON STATION ROAD, CREEDMOOR, NC 27522

Signing Officer

Name
Ashley Keith
Title
Executive Director
Phone
9199649003
Signed
2023-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ashley Keith
Formed
2013
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
177
Volunteers
0

Preparer

Firm
Potter & Company Pa
Address
434 COPPERFIELD BLVD NE STE A, CONCORD, NC 28025
Preparer
Kenni E Doyle CPA
Phone
7047868189
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The school has adopted asc 740-10 as it relates to uncertain tax positions for the year ended june 30, 2022 and has evaluated its tax positions taken for all open tax years. However, the school is not currently under audit nor has the school been contacted by these jurisdictions. Based on the evaluation of the schools tax positions, management believes all positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year end june 30, 2022.”

Raw XML Appendix380 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0140440
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0157588
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0FALLS LAKE ACADEMY SEEKS TO CREATE A CHALLENGING LEARNING ENVIRONMENT WHILE STRIVING TO MEET THE ACADEMIC, SOCIAL, AND EMOTIONAL NEEDS OF OUR 21ST CENTURY LEARNERS TO PREPARE THEM FOR CITIZENSHIP, LEADERSHIP, AND SUCCESS IN A RAPIDLY CHANGING WORLD. OUR SCHOOL PROMOTES A SAFE, ORDERLY, CARING AND SUPPORTIVE COMMUNITY. EACH STUDENT'S SELF-ESTEEM IS FOSTERED BY POSITIVE RELATIONSHIPS WITH STUDENTS AND STAFF. WE STRIVE TO HAVE OUR PARENTS, TEACHERS, AND COMMUNITY MEMBERS ACTIVELY INVOLVED IN OUR STUDENT'S LEARNING.
IRS990/AllOtherContributionsAmt0480559
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0CHARTER SUCCESS PARTNERS
IRS990/BooksInCareOfDetail/PhoneNum09199649003
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01701 E LYON STATION ROAD
IRS990/BooksInCareOfDetail/USAddress/CityNm0CREEDMOOR
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NC
IRS990/BooksInCareOfDetail/USAddress/ZIPCd027522
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt05525510
IRS990/CashNonInterestBearingGrp/EOYAmt06762980
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0214626
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0PO BOX 71092
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0DURHAM
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0NC
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd027704
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0CHARTER SUCCESS PARTNERS LLC
IRS990/ContractorCompensationGrp/ServicesDesc0FINANCIAL MANAGEMENT
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt011945302
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt011921032
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0210761
IRS990/CYRevenuesLessExpensesAmt0235031
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt011921032
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt012156063
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0TO PROVIDE FACILITIES, TEACHERS, AND MATERIALS TO STUDENTS ENROLLED AT A NC PUBLIC CHARTER SCHOOL
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt0177
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt011292218
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditPerformedInd01
IRS990/FederalGrantAuditRequiredInd01
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt05.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt15.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt25.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt35.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt440.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt55.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt65.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt75.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt415076
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/PersonNm0BRIAN MASSENGILL
IRS990/Form990PartVIISectionAGrp/PersonNm1VELVET NELSON
IRS990/Form990PartVIISectionAGrp/PersonNm2CRYSTAL GRANT
IRS990/Form990PartVIISectionAGrp/PersonNm3LA-SHELL JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm4AMY HOBGOOD
IRS990/Form990PartVIISectionAGrp/PersonNm5KEVIN NOLTE
IRS990/Form990PartVIISectionAGrp/PersonNm6TREY BROOKS
IRS990/Form990PartVIISectionAGrp/PersonNm7DONALD ENNIS
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt4113554
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02013
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GovernmentGrantsAmt011464743
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt012156063
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InterestGrp/ManagementAndGeneralAmt0628814
IRS990/InterestGrp/TotalAmt0628814
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt023
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt04037051
IRS990/LandBldgEquipBasisNetGrp/BOYAmt017767777
IRS990/LandBldgEquipBasisNetGrp/EOYAmt017050198
IRS990/LandBldgEquipCostOrOtherBssAmt021087249
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0FALLS LAKE ACADEMY SEEKS TO CREATE A CHALLENGING LEARNING ENVIRONMENT WHILE STRIVING TO MEET THE ACADEMIC, SOCIAL, AND EMOTIONAL NEEDS OF OUR 21ST CENTURY LEARNERS TO PREPARE THEM FOR CITIZENSHIP, LEADERSHIP, AND SUCCESS IN A RAPIDLY CHANGING WORLD. OUR SCHOOL PROMOTES A SAFE, ORDERLY, CARING AND SUPPORTIVE COMMUNITY. EACH STUDENT'S SELF-ESTEEM IS FOSTERED BY POSITIVE RELATIONSHIPS WITH STUDENTS AND STAFF. WE STRIVE TO HAVE OUR PARENTS, TEACHERS, AND COMMUNITY MEMBERS ACTIVELY INVOLVED IN OUR STUDENT'S LEARNING.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt020184413
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt019870699
IRS990/NetAssetsOrFundBalancesBOYAmt03549860
IRS990/NetAssetsOrFundBalancesEOYAmt03784891
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0INSTRUCTIONAL EXPENSE
IRS990/OtherExpensesGrp/Desc1SUPPORT SERVICE EXPENSE
IRS990/OtherExpensesGrp/Desc2CHILD CARE EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt09832992
IRS990/OtherExpensesGrp/ProgramServicesAmt11271130
IRS990/OtherExpensesGrp/ProgramServicesAmt2188096
IRS990/OtherExpensesGrp/TotalAmt09832992
IRS990/OtherExpensesGrp/TotalAmt11271130
IRS990/OtherExpensesGrp/TotalAmt2188096
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0-2416634
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0-2820501
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt012273
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0ASHLEY KEITH
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0624410
IRS990/ProgramServiceRevenueGrp/Desc0BEFORE AND AFTER SCHOOL CARE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0210761
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0210761
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt010363999
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0895
IRS990/PYOtherExpensesAmt09542424
IRS990/PYOtherRevenueAmt036876
IRS990/PYProgramServiceRevenueAmt0191891
IRS990/PYRevenuesLessExpensesAmt01051237
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt09542424
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt010593661
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0235031
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0210761
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt05966494
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt06605392
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0569153
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt016562628
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03810998
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt020373626
IRS990ScheduleD/EquipmentGrp/BookValueAmt078392
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0160391
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0238783
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt011921032
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0357014
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0357014
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt052164
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt065662
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0117826
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt012156063
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL HAS ADOPTED ASC 740-10 AS IT RELATES TO UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2022 AND HAS EVALUATED ITS TAX POSITIONS TAKEN FOR ALL OPEN TAX YEARS. HOWEVER, THE SCHOOL IS NOT CURRENTLY UNDER AUDIT NOR HAS THE SCHOOL BEEN CONTACTED BY THESE JURISDICTIONS. BASED ON THE EVALUATION OF THE SCHOOLS TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR END JUNE 30, 2022.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt017050198
IRS990ScheduleD/TotalExpensesPerForm990Amt011921032
IRS990ScheduleD/TotalRevenuePerForm990Amt012156063
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012156063
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt011921032
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE POLICY IS INCLUDED IN THE ORGANIZATION'S STATEMENT OF PURPOSE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS A PUBLIC CHARTER SCHOOL, THEREFORE NO FINANCIAL AID OR SCHOLARSHIPS ARE OFFERED
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION RECEIVES FEDERAL AND STATE ASSISTANCE THROUGH THE STATE BOARD OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY OF THE 990 RETURN WAS GIVEN TO THE BOARD OF DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEWED COMPARABLE SALARY DATA TO DETERMINE THE PRINCIPAL'S SALARY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORANIZATION'S OFFICE UPON REQUEST. ORGANIZATION STAFF ARE AVAILABLE TO PROVIDE SUPERVISION AND ANSWER ANY QUESTIONS THE INQUIRING PARTY MAY HAVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt023874713
IRS990/TotalAssetsEOYAmt023813178
IRS990/TotalAssetsGrp/BOYAmt023874713
IRS990/TotalAssetsGrp/EOYAmt023813178
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt011945302
IRS990/TotalEmployeeCnt0177
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0628814
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt011292218
IRS990/TotalFunctionalExpensesGrp/TotalAmt011921032
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt020324853
IRS990/TotalLiabilitiesEOYAmt020028287
IRS990/TotalLiabilitiesGrp/BOYAmt020324853
IRS990/TotalLiabilitiesGrp/EOYAmt020028287
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03549860
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03784891
IRS990/TotalOtherCompensationAmt015076
IRS990/TotalProgramServiceExpensesAmt011292218
IRS990/TotalProgramServiceRevenueAmt0210761
IRS990/TotalReportableCompFromOrgAmt0113554
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0210761
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt012156063
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt023874713
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023813178
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01701 E LYON STATION ROAD
IRS990/USAddress/CityNm0CREEDMOOR
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027522
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.FALLSLAKEACADEMY.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ASHLEY KEITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09199649003
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-04-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FALLS LAKE ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0FALL
ReturnHeader/Filer/EIN0461167805
ReturnHeader/Filer/PhoneNum09199649003
ReturnHeader/Filer/USAddress/AddressLine1Txt01701 E LYON STATION ROAD
ReturnHeader/Filer/USAddress/CityNm0CREEDMOOR
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027522
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561220683
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0POTTER & COMPANY PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0434 COPPERFIELD BLVD NE STE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CONCORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028025
ReturnHeader/PreparerPersonGrp/PhoneNum07047868189
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNI E DOYLE CPA
ReturnHeader/ReturnTs02023-04-25T12:11:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ASHLEY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KEITH
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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