Civic Intelligence

Pinnacle Classical Academy

990 • Fiscal year 2015 • EIN 46-1982572

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 07, 2016

Organization ProfileN/A
P O Box 2695Shelby, NC 28151

(704) 704-4040

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.22x

Higher debt load relative to assets than 62% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

56th percentile

0.15x

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

78th percentile

18%

Higher net margin than 78% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

95th percentile

84%

Faster asset growth than 95% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

50th percentile

3.5%

Faster revenue growth than 50% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$1,846,462

Up $844,244 (+84%) from 2014

Net Assets

Up

$1,447,445

Up $563,735 (+64%) from 2014

Liabilities

Up

$399,017

Up $280,509 (+237%) from 2014

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin78th percentile

Revenue

Up

$2,710,230

Up $91,123 (+3.5%) from 2014

Expenses

Up

$2,213,225

Up $485,850 (+28%) from 2014

Net Income

Down

$497,005

Down $394,727 (-44%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$40M$20M$0-$20MAssets 2013: $432Liabilities 2013: $8,4542013Assets 2014: $1,002,218Liabilities 2014: $118,508Net Assets 2014: $883,7102014Assets 2015: $1,846,462Liabilities 2015: $399,017Net Assets 2015: $1,447,4452015Assets 2016: $3,639,416Liabilities 2016: $1,590,518Net Assets 2016: $2,048,8982016Assets 2017: $14,588,370Liabilities 2017: $12,473,021Net Assets 2017: $2,115,3492017Assets 2018: $18,523,019Liabilities 2018: $21,752,013Net Assets 2018: -$3,228,9942018Assets 2019: $21,282,558Liabilities 2019: $24,638,699Net Assets 2019: -$3,356,1412019Assets 2020: $23,204,581Liabilities 2020: $26,526,018Net Assets 2020: -$3,321,4372020Assets 2021: $23,281,442Liabilities 2021: $25,917,523Net Assets 2021: -$2,636,0812021Assets 2022: $24,218,850Liabilities 2022: $24,835,587Net Assets 2022: -$616,7372022Assets 2023: $28,679,451Liabilities 2023: $27,076,705Net Assets 2023: $1,602,7462023Assets 2024: $38,943,037Liabilities 2024: $35,734,818Net Assets 2024: $3,208,2192024

Highlighted filing

2015

Assets$1,846,462
Liabilities$399,017
Net Assets$1,447,445
Open 2015 Filing

Operations Trend

Revenue Growth50th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2013: $339Expenses 2013: $8,361Net Income 2013: -$8,0222013Revenue 2014: $2,619,107Expenses 2014: $1,727,375Net Income 2014: $891,7322014Revenue 2015: $2,710,230Expenses 2015: $2,213,225Net Income 2015: $497,0052015Revenue 2016: $3,441,624Expenses 2016: $2,840,171Net Income 2016: $601,4532016Revenue 2017: $4,390,654Expenses 2017: $4,324,203Net Income 2017: $66,4512017Revenue 2018: $5,741,778Expenses 2018: $6,623,762Net Income 2018: -$881,9842018Revenue 2019: $7,532,386Expenses 2019: $7,659,533Net Income 2019: -$127,1472019Revenue 2020: $8,459,419Expenses 2020: $8,424,715Net Income 2020: $34,7042020Revenue 2021: $9,762,458Expenses 2021: $9,077,102Net Income 2021: $685,3562021Revenue 2022: $11,125,515Expenses 2022: $9,106,171Net Income 2022: $2,019,3442022Revenue 2023: $11,482,706Expenses 2023: $9,263,223Net Income 2023: $2,219,4832023Revenue 2024: $13,134,663Expenses 2024: $11,529,190Net Income 2024: $1,605,4732024

Highlighted filing

2015

Revenue$2,710,230
Expenses$2,213,225
Net Income$497,005
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 7, 2016
Return Version
2014v6.0
Gross Receipts
$2,710,230
Mission and Program Overview

Mission

To operate a public charter school for the education of children.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$723,873$913,011▲ $189,138
Cash and Non-Interest-Bearing Accounts$217,384$506,250▲ $288,866
Prepaid Expenses and Deferred Charges$17,918$20,721▲ $2,803
Accounts Receivable$43,043$11,088▼ $31,955
Total Assets$1,002,218$1,846,462▲ $844,244
Other Assets Total-$395,392-
Liabilities
Other Liabilities-$348,204-
Mortgage Notes Payable Secured by Investment Property$67,800$34,544▼ $33,256
Accounts Payable and Accrued Expenses$50,708$16,269▼ $34,439
Total Liabilities$118,508$399,017▲ $280,509
Net Assets / Fund Balance
Temporarily Rstr Net Assets$656,073$890,317▲ $234,244
Unrestricted Net Assets$227,637$557,128▲ $329,491
Total Net Assets Fund Balance$883,710$1,447,445▲ $563,735
Total Liabilities and Net Assets / Fund Balance$1,002,218$1,846,462▲ $844,244

Asset Categories

AssetBook ValueDepreciationBasis
Land$660,983-$660,983
Buildings$139,645$7,350$146,995
Leasehold Improvements$72,863$3,835$76,698
Equipment$39,520$16,936$56,456
Other Assets Org$395,392--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
T G WestmorelandChair
Debbie ClaryVice-Chair
Betsy HarnageDirector
Jim HarrisDirector
Pauline CahillDirector
Sarah TongelDirector
Stephen GrintonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$2,599,625
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$110,605
All Other Contributions
$52,423
Change in Net Assets
$497,005

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,710,230
Total Revenue per Audited Statements
$2,710,230
Total Revenue per Form 990
$2,710,230
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,448,634
Other Expenses$764,591
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$986,348$61,638$0$1,047,986
Pension Plan Contributions$164,683$9,327$0$174,010
Occupancy$827$172,210$0$173,037
Other Employee Benefits$135,293$4,929$0$140,222
All Other Expenses$71,953$36,427$0$108,380
Payroll Taxes$81,602$4,814$0$86,416
Other Expenses$39,188$0$0$39,188
Information Technology$37,563$0$0$37,563
Office Expenses$15,991$11,658$0$27,649
Depreciation Depletion$11,291$9,908$0$21,199
Insurance$0$12,260$0$12,260
Conferences and Meetings$8,599$0$0$8,599
Fees for Services Accounting$0$7,000$0$7,000
Interest$0$2,005$0$2,005
Advertising$0$1,109$0$1,109
Travel$593$0$0$593
Total Functional Expenses$1,761,681$451,544$0$2,213,225

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,213,225
Total Expenses per Audited Statements$2,213,225
Total Expenses per Form 990$2,213,225
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
-Family MemberRemodel contractNo$40,602
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Inflows of Resources$272,700
Net Pension Liability$75,504
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with family members
Yes
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
Filing and Contact Details

Filer

Filer Name
Pinnacle Classical Academy
EIN
46-1982572
Phone
7047044040
Address
P O Box 2695, Shelby, NC 28151

Signing Officer

Name
Wes Westmoreland
Title
Chair
Phone
7047044040
Signed
2016-02-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wes Westmoreland
Formed
2012
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
44
Volunteers
50

Preparer

Firm
Darrell L Keller CPA PA
Address
PO Box 1028, Kings Mountain, NC 28086
Preparer
Darrell L Keller
Phone
7047390771
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The board reviews the 990 prior to filing.”

Pt VI, Line 12C

“Conflict of Interest statemetns signed annually.”

Pt VI, Line 15A

“Compared to other charter schools.”

Form 990, Part IX, Line 24F

“Non-capital inst equip 11169. 11169. 0. 0. Non-capital comp equip 60784. 60784. 0. 0. Repairs & maintenance 33870. 0. 33870. 0. Other tax payments 2557. 0. 2557. 0.”

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IRS990ScheduleD/EquipmentGrp/BookValueAmt039520
IRS990ScheduleD/EquipmentGrp/DepreciationAmt016936
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt056456
IRS990ScheduleD/ExpensesSubtotalAmt02213225
IRS990ScheduleD/LandGrp/BookValueAmt0660983
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0660983
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt072863
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03835
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt076698
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0395392
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows of Resources
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt075504
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1272700
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred Inflows of Resources
IRS990ScheduleD/RevenueSubtotalAmt02710230
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0913011
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0395392
IRS990ScheduleD/TotalExpensesPerForm990Amt02213225
IRS990ScheduleD/TotalLiabilityAmt0348204
IRS990ScheduleD/TotalRevenuePerForm990Amt02710230
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02710230
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02213225
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0RADIO AND NEWSPAPER ADVERTISEMENTS. N/A
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1N/A
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0Clary Construction
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Family Member
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt040602
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Remodel contract
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board reviews the 990 prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Conflict of Interest statemetns signed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compared to other charter schools.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NON-CAPITAL INST EQUIP 11169. 11169. 0. 0. NON-CAPITAL COMP EQUIP 60784. 60784. 0. 0. REPAIRS & MAINTENANCE 33870. 0. 33870. 0. OTHER TAX PAYMENTS 2557. 0. 2557. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24f
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0656073
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0890317
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01002218
IRS990/TotalAssetsEOYAmt01846462
IRS990/TotalAssetsGrp/BOYAmt01002218
IRS990/TotalAssetsGrp/EOYAmt01846462
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02599625
IRS990/TotalEmployeeCnt044
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0451544
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01761681
IRS990/TotalFunctionalExpensesGrp/TotalAmt02213225
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0118508
IRS990/TotalLiabilitiesEOYAmt0399017
IRS990/TotalLiabilitiesGrp/BOYAmt0118508
IRS990/TotalLiabilitiesGrp/EOYAmt0399017
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0883710
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01447445
IRS990/TotalProgramServiceExpensesAmt01761681
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0110605
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02710230
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01002218
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01846462
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt0593
IRS990/TravelGrp/TotalAmt0593
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0227637
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0557128
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0P O Box 2695
IRS990/USAddress/CityNm0Shelby
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028151
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WES WESTMORELAND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum07047044040
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-02-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Pinnacle Classical Academy
ReturnHeader/Filer/BusinessNameControlTxt0PINN
ReturnHeader/Filer/EIN0461982572
ReturnHeader/Filer/PhoneNum07047044040
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O Box 2695
ReturnHeader/Filer/USAddress/CityNm0Shelby
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028151
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Darrell L Keller CPA PA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,846,462
Liabilities
$399,017
Net assets
$1,447,445
Revenue
$2,710,230
Expenses
$2,213,225
Net income
$497,005
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.9$35.7$3.21$13.1$11.5$1.61
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.7$27.1$1.60$11.5$9.26$2.22
2022Detailed filing. Detailed filing data is available for this year.$24.2$24.8$0.62$11.1$9.11$2.02
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.3$25.9$2.64$9.76$9.08$0.69
2020Detailed filing. Detailed filing data is available for this year.$23.2$26.5$3.32$8.46$8.42$0.03
2019Detailed filing. Detailed filing data is available for this year.$21.3$24.6$3.36$7.53$7.66$0.13
2018Detailed filing. Detailed filing data is available for this year.$18.5$21.8$3.23$5.74$6.62$0.88
2017Detailed filing. Detailed filing data is available for this year.$14.6$12.5$2.12$4.39$4.32$0.07
2016Detailed filing. Detailed filing data is available for this year.$3.64$1.59$2.05$3.44$2.84$0.60
2015Detailed filing. Detailed filing data is available for this year.$1.85$0.40$1.45$2.71$2.21$0.50
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.12$0.88$2.62$1.73$0.89
2013Summary only. Only limited summary data is available for this year.$0.00$0.01$0.00$0.01$0.01