Civic Intelligence

Falls Lake Academy Inc.

990 • Fiscal year 2014 • EIN 46-1167805

Jul 01, 2013 to Jun 30, 2014 • Filed on Jan 20, 2015

Organization ProfileWWW.FALLSLAKEACADEMY.COM
1701 E Lyon Station RoadCreedmoor, NC 27522

(919) 964-9003

Siviq Scores

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

Liabilities / Assets

57th percentile

0.20x

Higher debt load relative to assets than 57% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

33rd percentile

0.03x

Higher debt load relative to revenue than 33% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Net Margin

70th percentile

11%

Higher net margin than 70% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

36th percentile

$25,590

Higher top officer pay than 36% of similar nonprofits.

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

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Asset Growth

100th percentile

47890%

Faster asset growth than 100% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

100th percentile

44771%

Faster revenue growth than 100% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets57th percentile

Assets

$340,730

No earlier filing loaded for comparison.

Net Assets

$271,565

No earlier filing loaded for comparison.

Liabilities

$69,165

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin70th percentile

Revenue

$2,560,364

No earlier filing loaded for comparison.

Expenses

$2,289,509

No earlier filing loaded for comparison.

Net Income

$270,855

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$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

2014

Assets$340,730
Liabilities$69,165
Net Assets$271,565
Open 2014 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income across loaded years, with this 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

2014

Revenue$2,560,364
Expenses$2,289,509
Net Income$270,855
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 20, 2015
Return Version
2013v4.0
Gross Receipts
$2,560,364
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
Cash and Non-Interest-Bearing Accounts$710$327,114▲ $326,404
Rtn Earn Endowment Incm Other Fnds$710$257,949▲ $257,239
Land, Buildings, and Equipment, Net$0$13,616▲ $13,616
Pd in Cap Srpls Land Bldg Eqp Fund$0$13,616▲ $13,616
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$710$340,730▲ $340,020
Liabilities
Accounts Payable and Accrued Expenses-$69,165-
Total Liabilities$0$69,165▲ $69,165
Net Assets / Fund Balance
Total Net Assets Fund Balance$710$271,565▲ $270,855
Total Liabilities and Net Assets / Fund Balance$710$340,730▲ $340,020

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,616$1,209-
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Robert DanielPrincipalFT$25,590$25,590

Board Members and Trustees

NameTitle
Andrew PetersonBoard Chairman
Tracy TealBoard Vice Chairman
Bridget TannerBoard Member
Mandy JohnsonBoard Member
Larry VaughtBoard Secretary
Katrina CookeBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,473,016
Program Service Revenue
$87,348
Investment Income
$0
Other Revenue
$0
All Other Contributions
$179,157
Change in Net Assets
$270,855

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,560,364
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,560,364
Total Revenue per Form 990
$2,560,364
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,256,929
Other Expenses$1,032,580
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$875,703$128,812-$1,004,515
Occupancy$329,809$17,358-$347,167
Other Employee Benefits$87,156$15,368-$102,524
Other Expenses$77,626$13,699-$91,325
Payroll Taxes$66,189$11,671-$77,860
Information Technology$63,900--$63,900
All Other Expenses$43,639$5,559-$49,198
Pension Plan Contributions$39,478$6,961-$46,439
Current Officers, Directors, Trustees, and Key Employees$19,193$6,398-$25,591
Office Expenses-$16,734-$16,734
Insurance-$13,153-$13,153
Depreciation Depletion$1,088$121-$1,209
Total Functional Expenses$1,877,225$412,284$0$2,289,509

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,289,509
Total Expenses per Audited Statements$2,289,509
Total Expenses per Form 990$2,289,509
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Larry VaughtBoard MemberMR. VAUGHT LOANED THE ORGANIZATION $80,000 AT THE BEGINNING OF THE SCHOOL YEAR FOR OPERATIONS. THIS LOAN WAS PAID BACK TO MR. VAUGHT BEFORE JUNE 30, 2014.No$80,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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 11

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

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

EIN
46-1167805
Phone
9199649003

Signing Officer

Name
Robert Daniel
Title
Principal
Phone
9199649003
Signed
2015-01-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert E Daniel
Formed
2013
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
44
Volunteers
300

Preparer

Preparer
Samuel M Leder CPA
Phone
7047868189
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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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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02560364
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02289509
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/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE POLICY IS INCLUDED IN THE ORGANIZATION'S STATEMENT OF PURPOSE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE 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 6
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0LARRY VAUGHT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt080000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MR. VAUGHT LOANED THE ORGANIZATION $80,000 AT THE BEGINNING OF THE SCHOOL YEAR FOR OPERATIONS. THIS LOAN WAS PAID BACK TO MR. VAUGHT BEFORE JUNE 30, 2014.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY OF THE 990 RETURN WAS GIVEN TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL.
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/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0710
IRS990/TotalAssetsEOYAmt0340730
IRS990/TotalAssetsGrp/BOYAmt0710
IRS990/TotalAssetsGrp/EOYAmt0340730
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02473016
IRS990/TotalEmployeeCnt044
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0412284
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01877225
IRS990/TotalFunctionalExpensesGrp/TotalAmt02289509
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt069165
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt069165
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0710
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0271565
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01877225
IRS990/TotalProgramServiceRevenueAmt087348
IRS990/TotalReportableCompFromOrgAmt025590
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt087348
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02560364
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0300
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0710
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0340730
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101701 E LYON STATION ROAD
IRS990/USAddress/City0CREEDMOOR
IRS990/USAddress/State0NC
IRS990/USAddress/ZIPCode027522
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.FALLSLAKEACADEMY.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT DANIEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRINCIPAL
ReturnHeader/BusinessOfficerGrp/PhoneNum09199649003
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-01-20
ReturnHeader/Filer/BusinessName/BusinessNameLine10FALLS LAKE ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0FALL
ReturnHeader/Filer/EIN0461167805
ReturnHeader/Filer/PhoneNum09199649003
ReturnHeader/Filer/USAddress/AddressLine101701 E LYON STATION ROAD
ReturnHeader/Filer/USAddress/City0CREEDMOOR
ReturnHeader/Filer/USAddress/State0NC
ReturnHeader/Filer/USAddress/ZIPCode027522
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561220683
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10POTTER & COMPANY PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10434 COPPERFIELD BLVD NE STE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0CONCORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode028025
ReturnHeader/PreparerPersonGrp/PhoneNum07047868189
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SAMUEL M LEDER CPA
ReturnHeader/ReturnTs02015-02-13T11:06:10-06:00
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
$340,730
Liabilities
$69,165
Net assets
$271,565
Revenue
$2,560,364
Expenses
$2,289,509
Net income
$270,855
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