Civic Intelligence

The Expedition School Ltd

990 • Fiscal year 2020 • EIN 46-1173529

Jul 01, 2019 to Jun 30, 2020 • Filed on Feb 08, 2021

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

46th percentile

0.10x

Higher debt load relative to assets than 46% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

34th percentile

0.05x

Higher debt load relative to revenue than 34% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Net Margin

52nd percentile

5.5%

Higher net margin than 52% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

54th percentile

$72,203

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Asset Growth

66th percentile

19%

Faster asset growth than 66% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

58th percentile

3.0%

Faster revenue growth than 58% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$1,697,439

Up $266,941 (+19%) from 2019

Net Assets

Up

$1,521,986

Up $215,692 (+17%) from 2019

Liabilities

Up

$175,453

Up $51,249 (+41%) from 2019

Revenue

Up

$3,890,120

Up $113,234 (+3.0%) from 2019

Expenses

Up

$3,674,428

Up $408,092 (+12%) from 2019

Net Income

Down

$215,692

Down $294,858 (-58%) from 2019

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

2020

Assets$1,697,439
Liabilities$175,453
Net Assets$1,521,986

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

2020

Revenue$3,890,120
Expenses$3,674,428
Net Income$215,692
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 8, 2021
Return Version
2019v5.0
Gross Receipts
$3,890,120
Mission and Program Overview

Mission

Operation of a north carolina public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$354,744$863,305▲ $508,561
Cash and Non-Interest-Bearing Accounts$992,966$758,739▼ $234,227
Land, Buildings, and Equipment, Net$21,407$63,071▲ $41,664
Prepaid Expenses and Deferred Charges$54,586--
Accounts Receivable$6,795$324▼ $6,471
Total Assets$1,430,498$1,697,439▲ $266,941
Other Assets Total-$12,000-
Liabilities
Accounts Payable and Accrued Expenses$117,535$175,453▲ $57,918
Deferred Revenue$6,669--
Total Liabilities$124,204$175,453▲ $51,249
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,306,294$1,521,986▲ $215,692
Total Net Assets Fund Balance$1,306,294$1,521,986▲ $215,692
Total Liabilities and Net Assets / Fund Balance$1,430,498$1,697,439▲ $266,941

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$63,071$13,349$76,420
Compensation and Service Providers

Employees

NameTitleBaseTotal
Tammy FinchDirectr of E$72,203$72,203

Board Members and Trustees

NameTitle
Susan HalkiotisChair
Howard RhodesVice Chair
Christie NorrisDirector
Rosemary WellonsDirector
Sean ColbertDirector
Matt PanningSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$85,193
Program Service Revenue
$3,766,182
Investment Income
$8,521
Other Revenue
$30,224
All Other Contributions
$28,917
Change in Net Assets
$215,692

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,890,120
Total Revenue per Audited Statements
$3,890,120
Total Revenue per Form 990
$3,890,120
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,554,569
Other Expenses$1,119,859
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,800,701$199,417-$2,000,118
Occupancy$455,734$165,612-$621,346
Other Employee Benefits$185,170$29,023-$214,193
Fees for Services Other$85,108$105,306-$190,414
Payroll Taxes$149,628$20,872-$170,500
Pension Plan Contributions$75,262$11,796-$87,058
Current Officers, Directors, Trustees, and Key Employees-$82,700-$82,700
Fees for Services Accounting-$37,574-$37,574
Office Expenses-$29,458-$29,458
Conferences and Meetings$26,233$467-$26,700
All Other Expenses$15,696$4,179-$19,875
Insurance-$13,358-$13,358
Other Expenses$20,590$10,838-$10,838
Advertising-$9,565-$9,565
Depreciation Depletion$5,125$1,709-$6,834
Fees for Services Legal-$5,987-$5,987
Travel-$324-$324
Total Functional Expenses$2,938,026$736,402$0$3,674,428

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,674,428
Total Expenses per Audited Statements$3,674,428
Total Expenses per Form 990$3,674,428
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
Backup withholding compliance
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
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 written 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
9195931346
Signed
2021-02-08

Organization Details

Principal Officer
Susan Halkiotis
Formed
2012
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
76
Volunteers
6

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/ExpensesSubtotalAmt03674428
IRS990ScheduleD/RevenueSubtotalAmt03890120
IRS990ScheduleD/TotalBookValueLandBuildingsAmt063071
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
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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IRS990/ScheduleORequiredInd0true
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 WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03890120
IRS990/TotalVolunteersCnt06
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0437 DIMMOCKS MILL RD STE 33
IRS990/USAddress/CityNm0HILLSBOROUIGH
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027278
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.THEEXPEDITIONSCHOOL.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0PATRICIA BRUMMITT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR OF BUSINESS
ReturnHeader/BusinessOfficerGrp/PhoneNum09195931346
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-02-08
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
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027278
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202102404
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PETWAY MILLS & PEARSON PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1036
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ZEBULON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0275971036
ReturnHeader/PreparerPersonGrp/PhoneNum09192697405
ReturnHeader/PreparerPersonGrp/PreparationDt02021-02-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES A RIDOUTT
ReturnHeader/ReturnTs02021-02-16T14:40:27-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30

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