Civic Intelligence

The Expedition School Ltd

990 • Fiscal year 2019 • EIN 46-1173529

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 24, 2020

437 Dimmocks Mill Rd Ste 33Hillsborough, NC 27278

(919) 245-8432

Siviq Scores

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

Liabilities / Assets

48th percentile

0.09x

Higher debt load relative to assets than 48% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

37th percentile

0.03x

Higher debt load relative to revenue than 37% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Net Margin

73rd percentile

14%

Higher net margin than 73% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$65,737

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Asset Growth

91st percentile

64%

Faster asset growth than 91% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

65th percentile

11%

Faster revenue growth than 65% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,430,498

Up $557,563 (+64%) from 2018

Net Assets

Up

$1,306,294

Up $510,550 (+64%) from 2018

Liabilities

Up

$124,204

Up $47,013 (+61%) from 2018

Revenue

Up

$3,776,886

Up $375,384 (+11%) from 2018

Expenses

Down

$3,266,336

Down $2,825 (-0.1%) from 2018

Net Income

Up

$510,550

Up $378,209 (+286%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2013: $1Liabilities 2013: $02013Assets 2014: $36,167Liabilities 2014: $39,0002014Assets 2015: $340,440Liabilities 2015: $40,500Net Assets 2015: $299,9402015Assets 2016: $533,383Liabilities 2016: $6,221Net Assets 2016: $527,1622016Assets 2017: $703,671Liabilities 2017: $40,268Net Assets 2017: $663,4032017Assets 2018: $872,935Liabilities 2018: $77,191Net Assets 2018: $795,7442018Assets 2019: $1,430,498Liabilities 2019: $124,204Net Assets 2019: $1,306,2942019Assets 2020: $1,697,439Liabilities 2020: $175,453Net Assets 2020: $1,521,9862020Assets 2021: $2,086,305Liabilities 2021: $197,789Net Assets 2021: $1,888,5162021Assets 2022: $2,350,181Liabilities 2022: $189,274Net Assets 2022: $2,160,9072022Assets 2023: $13,439,876Liabilities 2023: $11,165,522Net Assets 2023: $2,274,3542023Assets 2024: $13,488,273Liabilities 2024: $11,085,306Net Assets 2024: $2,402,9672024

Highlighted filing

2019

Assets$1,430,498
Liabilities$124,204
Net Assets$1,306,294

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $132Expenses 2014: $2,965Net Income 2014: -$2,8332014Revenue 2015: $2,132,663Expenses 2015: $1,829,890Net Income 2015: $302,7732015Revenue 2016: $2,760,784Expenses 2016: $2,533,562Net Income 2016: $227,2222016Revenue 2017: $3,227,832Expenses 2017: $3,091,591Net Income 2017: $136,2412017Revenue 2018: $3,401,502Expenses 2018: $3,269,161Net Income 2018: $132,3412018Revenue 2019: $3,776,886Expenses 2019: $3,266,336Net Income 2019: $510,5502019Revenue 2020: $3,890,120Expenses 2020: $3,674,428Net Income 2020: $215,6922020Revenue 2021: $4,098,724Expenses 2021: $3,732,195Net Income 2021: $366,5292021Revenue 2022: $4,702,983Expenses 2022: $4,430,592Net Income 2022: $272,3912022Revenue 2023: $5,149,732Expenses 2023: $5,036,285Net Income 2023: $113,4472023Revenue 2024: $5,257,578Expenses 2024: $5,128,965Net Income 2024: $128,6132024

Highlighted filing

2019

Revenue$3,776,886
Expenses$3,266,336
Net Income$510,550
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 24, 2020
Return Version
2018v3.2
Gross Receipts
$3,776,886
Mission and Program Overview

Mission

Operation of a north carolina public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$470,299$992,966▲ $522,667
Savings and Temporary Cash Investments$351,644$354,744▲ $3,100
Prepaid Expenses and Deferred Charges$12,000$54,586▲ $42,586
Land, Buildings, and Equipment, Net$24,199$21,407▼ $2,792
Accounts Receivable$14,793$6,795▼ $7,998
Total Assets$872,935$1,430,498▲ $557,563
Liabilities
Accounts Payable and Accrued Expenses$70,522$117,535▲ $47,013
Deferred Revenue$6,669$6,669→ $0
Total Liabilities$77,191$124,204▲ $47,013
Net Assets / Fund Balance
Unrestricted Net Assets$795,744$1,306,294▲ $510,550
Total Net Assets Fund Balance$795,744$1,306,294▲ $510,550
Total Liabilities and Net Assets / Fund Balance$872,935$1,430,498▲ $557,563

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$21,407$6,515$27,922
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Tammy FinchDirectr of EFT$65,737$65,737

Board Members and Trustees

NameTitle
Bessie MbadughaBoard Chair
Susan HalkiotisVice Chair
Aaron FreemanDirector
Christie NorrisDirector
Howard RhodesDirector
Jim ParkerDirector
Velinda HatcherSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$69,232
Program Service Revenue
$3,682,281
Investment Income
$2,862
Other Revenue
$22,511
All Other Contributions
$9,933
Change in Net Assets
$510,550

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,776,886
Total Revenue per Audited Statements
$3,776,886
Total Revenue per Form 990
$3,776,886
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,251,899
Other Expenses$1,014,437
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,571,429$191,436-$1,762,865
Occupancy$422,418$149,128-$571,546
Other Employee Benefits$180,262$22,850-$203,112
Fees for Services Other$67,870$98,384-$166,254
Payroll Taxes$123,696$15,680-$139,376
Current Officers, Directors, Trustees, and Key Employees$62,960$15,740-$78,700
Pension Plan Contributions$60,213$7,633-$67,846
Fees for Services Accounting-$39,010-$39,010
Office Expenses$4,629$18,802-$23,431
Conferences and Meetings$13,327$4,443-$17,770
All Other Expenses$4,849$9,380-$14,229
Other Expenses$10,200$56-$10,256
Insurance-$8,708-$8,708
Fees for Services Legal-$7,810-$7,810
Depreciation Depletion$2,094$698-$2,792
Advertising-$2,742-$2,742
Payment Travel Entrtnmnt Publicly Ofcl$57--$57
Total Functional Expenses$2,657,768$608,568$0$3,266,336

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,266,336
Total Expenses per Audited Statements$3,266,336
Total Expenses per Form 990$3,266,336
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$4,438
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
Backup withholding compliance
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
Yes
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

990 is reviewed by the finance committee and is presented to the board prior to filing.

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

Conflict of interest policy is reviewed annually. Potential conflicts of interest are reviewed and resolved by the board of directors.

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

Compensation for the top management official is approved by board and is in line with salary and benefits guidance that is published by the nc department of public instruction.

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

No board members are compensated. Key employee compensation is based on comparability data.

Form 990, Page 6, Part VI, Line 19

Governing documents, school policies, and financial statements are available for viewing by the public at the organization's office upon request.

Filing and Contact Details

Filer

Filer Name
The Expedition School Ltd
EIN
46-1173529
Phone
9192458432
Address
437 DIMMOCKS MILL RD STE 33, HILLSBOROUGH, NC 27278

Signing Officer

Name
Patricia Brummitt
Title
Director of Business
Phone
9192458432
Signed
2020-01-24

Organization Details

Principal Officer
Bessie Mbadugha
Formed
2012
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
78
Volunteers
7

Preparer

Firm
Petway Mills & Pearson Pa
Address
PO BOX 1036, ZEBULON, NC 27597-1036
Preparer
James a Ridoutt
Phone
9192697405
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IRS990ScheduleD/RevenueSubtotalAmt03776886
IRS990ScheduleD/TotalBookValueLandBuildingsAmt021407
IRS990ScheduleD/TotalExpensesPerForm990Amt03266336
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE EXPEDITION SCHOOL, LTD OPERATES A PUBLIC CHARTER SCHOOL AND IS FUNDED BY THE STATE OF NORTH CAROLINA AND LOCAL GOVERNMENT. NORTH CAROLINA REQUIRES A POLICY OF NONDISCRIMINATION AND THE SCHOOL'S NONDISCRIMINATION POLICY IS DISCLOSED IN ALL SOLICITATIONS FOR STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1NORTH CAROLINA PUBLIC CHARTER SCHOOL, FUNDED BY STATE & LOCAL GOVERNMENT. ALSO RECEIVES VARIOUS FEDERAL AND STATE GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0990 IS REVIEWED BY THE FINANCE COMMITTEE AND IS PRESENTED TO THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY. POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED AND RESOLVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL IS APPROVED BY BOARD AND IS IN LINE WITH SALARY AND BENEFITS GUIDANCE THAT IS PUBLISHED BY THE NC DEPARTMENT OF PUBLIC INSTRUCTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO BOARD MEMBERS ARE COMPENSATED. KEY EMPLOYEE COMPENSATION IS BASED ON COMPARABILITY DATA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, SCHOOL POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR VIEWING BY THE PUBLIC AT THE ORGANIZATION'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/USAddress/AddressLine1Txt0437 DIMMOCKS MILL RD STE 33
IRS990/USAddress/CityNm0HILLSBOROUGH
IRS990/USAddress/StateAbbreviationCd0NC
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IRS990/WebsiteAddressTxt0WWW.THEEXPEDITIONSCHOOL.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PATRICIA BRUMMITT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR OF BUSINESS
ReturnHeader/BusinessOfficerGrp/PhoneNum09192458432
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-01-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE EXPEDITION SCHOOL LTD
ReturnHeader/Filer/BusinessNameControlTxt0EXPE
ReturnHeader/Filer/EIN0461173529
ReturnHeader/Filer/PhoneNum09192458432
ReturnHeader/Filer/USAddress/AddressLine1Txt0437 DIMMOCKS MILL RD STE 33
ReturnHeader/Filer/USAddress/CityNm0HILLSBOROUGH

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