Civic Intelligence

Riverwalk Academy Inc.

990 • Fiscal year 2019 • EIN 46-2624840

Jul 01, 2018 to Jun 30, 2019 • Filed on May 20, 2020

Organization ProfileWWW.RIVERWALKACADEMY.COM
PO Box 2592Rock Hill, SC 29732

(803) 873-9295

Siviq Scores

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

Liabilities / Assets

95th percentile

1.20x

Higher debt load relative to assets than 95% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

90th percentile

2.47x

Higher debt load relative to revenue than 90% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

14th percentile

-16%

Higher net margin than 14% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

39th percentile

$98,271

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

15th percentile

-5.6%

Faster asset growth than 15% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

71st percentile

14%

Faster revenue growth than 71% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$9,693,174

Down $577,890 (-5.6%) from 2018

Net Assets

Down

-$1,891,977

Down $768,833 (-68%) from 2018

Liabilities

Up

$11,585,151

Up $190,943 (+1.7%) from 2018

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin14th percentile

Revenue

Up

$4,686,836

Up $572,260 (+14%) from 2018

Expenses

Up

$5,455,670

Up $83,162 (+1.5%) from 2018

Net Income

Up

-$768,834

Up $489,098 (+39%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$30M$20M$10M$0-$10MAssets 2014: $473Liabilities 2014: $02014Assets 2015: $227,112Liabilities 2015: $72,050Net Assets 2015: $155,0622015Assets 2016: $628,064Liabilities 2016: $62,201Net Assets 2016: $565,8632016Assets 2017: $11,260,353Liabilities 2017: $10,761,944Net Assets 2017: $498,4092017Assets 2018: $10,271,064Liabilities 2018: $11,394,208Net Assets 2018: -$1,123,1442018Assets 2019: $9,693,174Liabilities 2019: $11,585,151Net Assets 2019: -$1,891,9772019Assets 2020: $9,988,081Liabilities 2020: $12,163,944Net Assets 2020: -$2,175,8632020Assets 2021: $14,159,679Liabilities 2021: $13,663,781Net Assets 2021: $495,8982021Assets 2022: $14,403,367Liabilities 2022: $13,561,497Net Assets 2022: $841,8702022Assets 2023: $14,764,179Liabilities 2023: $13,538,486Net Assets 2023: $1,225,6932023Assets 2024: $28,502,005Liabilities 2024: $28,199,585Net Assets 2024: $302,4202024

Highlighted filing

2019

Assets$9,693,174
Liabilities$11,585,151
Net Assets-$1,891,977
Open 2019 Filing

Operations Trend

Revenue Growth71st percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2014: $65,309Expenses 2014: $64,836Net Income 2014: $4732014Revenue 2015: $1,870,729Expenses 2015: $1,634,058Net Income 2015: $236,6712015Revenue 2016: $2,545,482Expenses 2016: $2,134,681Net Income 2016: $410,8012016Revenue 2017: $4,536,072Expenses 2017: $4,603,526Net Income 2017: -$67,4542017Revenue 2018: $4,114,576Expenses 2018: $5,372,508Net Income 2018: -$1,257,9322018Revenue 2019: $4,686,836Expenses 2019: $5,455,670Net Income 2019: -$768,8342019Revenue 2020: $5,541,140Expenses 2020: $5,825,026Net Income 2020: -$283,8862020Revenue 2021: $6,663,781Expenses 2021: $3,992,020Net Income 2021: $2,671,7612021Revenue 2022: $6,925,917Expenses 2022: $6,579,945Net Income 2022: $345,9722022Revenue 2023: $8,059,132Expenses 2023: $7,675,309Net Income 2023: $383,8232023Revenue 2024: $9,705,711Expenses 2024: $10,628,984Net Income 2024: -$923,2732024

Highlighted filing

2019

Revenue$4,686,836
Expenses$5,455,670
Net Income-$768,834
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 20, 2020
Return Version
2018v3.1
Gross Receipts
$4,686,836
Mission and Program Overview

Mission

At riverwalk academy, our project based learning approach promotes an environment where students are seen as individuals, taught the power of positive relationships, and equipped to take ownership of their choices.

The mission of riverwalk academy is to lead students to achieve, through a project based learning model.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,965,332$9,377,385▼ $587,947
Cash and Non-Interest-Bearing Accounts$224,714$259,039▲ $34,325
Accounts Receivable$7,686$6,397▼ $1,289
Prepaid Expenses and Deferred Charges$11,805$5,848▼ $5,957
Total Assets$10,271,064$9,693,174▼ $577,890
Other Assets Total$61,527$44,505▼ $17,022
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,174,713$11,262,594▲ $87,881
Accounts Payable and Accrued Expenses$215,053$250,671▲ $35,618
Other Liabilities$0$63,498▲ $63,498
Deferred Revenue$4,442$8,388▲ $3,946
Total Liabilities$11,394,208$11,585,151▲ $190,943
Net Assets / Fund Balance
Unrestricted Net Assets$86,237$-6,768▼ $93,005
Temporarily Rstr Net Assets$-1,209,381$-1,885,209▼ $675,828
Total Net Assets Fund Balance$-1,123,144$-1,891,977▼ $768,833
Total Liabilities and Net Assets / Fund Balance$10,271,064$9,693,174▼ $577,890

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,994,878$1,535,710$10,530,588
Other Land Buildings$98,246$294,741$392,987
Leasehold Improvements$186,422$95,237$281,659
Equipment$97,839$148,770$246,609
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert ComptonHead of SchoolFT$97,712$559$98,271

Board Members and Trustees

NameTitle
Mariann CarterBoard Chair
Ben IgnatowiczVice Chair
Joy TerhuneBoard Member
Lawrence BlackBoard Member
Nichole GonzalezBoard Member
Tim BassBoard Member
Rosana SaladinBoard Secretary
Mike RiddleBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,521,612
Program Service Revenue
$165,224
Investment Income
$0
Other Revenue
$0
All Other Contributions
$30,219
Change in Net Assets
$-768,834

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,686,836
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,686,836
Total Revenue per Form 990
$4,686,836
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,033,746
Salaries, Compensation, and Employee Benefits$2,421,924
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,859,035$87,712-$1,946,747
Interest$904,439$226,110-$1,130,549
Depreciation Depletion$589,286$147,321-$736,607
Other Employee Benefits$449,267$25,910-$475,177
Other Expenses$46,448$5,256-$51,704
Fees for Services Accounting$18,120$4,530-$22,650
All Other Expenses$5,008--$5,008
Total Functional Expenses$4,774,912$680,758$0$5,455,670

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,455,670
Total Expenses per Audited Statements$5,455,670
Total Expenses per Form 990$5,455,670
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$59,478
Due to Other Governmental Units$4,020
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Part VI, Section B, Line 11B

“The board of directors is presented a copy of the return for approval prior to filing, once approved the board authorizes the chairman to sign the return and file.”

Form 990, Part VI, Section B, Line 12C

“A conflict of interest questionnaire is distributed as part of the annual audit. In the event of a potential conflict that person will recuse himself/herself from all discussions and/or vote on the matter in question.”

Form 990, Part VI, Section B, Line 15

“Salary and benefits are determined based upon local market comparison for like schools and educational non profits. Total compensation packages are approved by the full board. Also, the school district reviews and audits the oraganization's budget, including the reasonableness of salaries. Salary discussions are made in executive session and results are documented in board minutes.”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements are available upon written request.”

Filing and Contact Details

Filer

Filer Name
Riverwalk Academy
EIN
46-2624840
Phone
8038739295
Address
PO BOX 2592, ROCK HILL, SC 29732

Signing Officer

Name
Mariann Carter
Title
Chairman
Phone
8038739295
Signed
2020-05-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mariann Carter
Formed
2013
Legal Domicile
Sc
Voting Board Members
8
Independent Board Members
8
Employees
70
Volunteers
92

Preparer

Firm
Elliott Davis Llcpllc
Address
1901 MAIN STREET SUITE 900, COLUMBIA, SC 29201
Preparer
Denise P Hill
Phone
8032560002
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Capital outlay: program service expenses 5,008. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,008.”

FORM 990, PAGE 12, PART XII, LINE 2C:

“The board of directors oversee the audit process.”

Raw XML AppendixShowing 400 of 431 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.

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IRS990/ProgSrvcAccomActy2Grp/Desc0RIVERWALK ACADEMY INSTRUCTS THROUGH A PROJECT BASED LEARNING MODEL, WHERE THE STUDENT'S INQUIRY DRIVES THEIR INSTRUCTION. STUDENTS ARE TAUGHT IN A VARIETY OF SETTINGS RANGING FROM SMALL GROUP INSTRUCTION TO WHOLE GRADE-LEVEL GROUP INSTRUCTION. OUR STUDENTS WORK ON PROJECTS THAT NOT ONLY HAVE A POSITIVE IMPACT THE CLASSROOM, BUT HAVE A SCHOOL-WIDE AND COMMUNITY IMPACT.
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IRS990/PYTotalExpensesAmt05372508
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IRS990/PYTotalRevenueAmt04114576
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-768834
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IRS990/ReportInvestmentsOtherSecInd00
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IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0165224
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt08994878
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01535710
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010530588
IRS990ScheduleD/EquipmentGrp/BookValueAmt097839
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0148770
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0246609
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05455670
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0186422
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt095237
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0281659
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt098246
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0294741
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0392987
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04020
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt159478
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO OTHER GOVERNMENTAL UNITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LINE OF CREDIT
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt09377385
IRS990ScheduleD/TotalExpensesPerForm990Amt05455670
IRS990ScheduleD/TotalLiabilityAmt063498
IRS990ScheduleD/TotalRevenuePerForm990Amt04686836
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04686836
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05455670
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 SCHOOL PUBLISHES ITS NONDISCRIMINATORY STATEMENT ON ITS WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS A PUBLIC CHARTER SCHOOL. THEREFORE, IT DOES NOT OFFER SCHOLARSHIPS OR FINANCIAL AID.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL RECEIVES VARIOUS GOVERNMENT GRANTS FROM BOTH FEDERAL AND STATE SOURCES.
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/ExplanationTxt0THE BOARD OF DIRECTORS IS PRESENTED A COPY OF THE RETURN FOR APPROVAL PRIOR TO FILING, ONCE APPROVED THE BOARD AUTHORIZES THE CHAIRMAN TO SIGN THE RETURN AND FILE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A CONFLICT OF INTEREST QUESTIONNAIRE IS DISTRIBUTED AS PART OF THE ANNUAL AUDIT. IN THE EVENT OF A POTENTIAL CONFLICT THAT PERSON WILL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND/OR VOTE ON THE MATTER IN QUESTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARY AND BENEFITS ARE DETERMINED BASED UPON LOCAL MARKET COMPARISON FOR LIKE SCHOOLS AND EDUCATIONAL NON PROFITS. TOTAL COMPENSATION PACKAGES ARE APPROVED BY THE FULL BOARD. ALSO, THE SCHOOL DISTRICT REVIEWS AND AUDITS THE ORAGANIZATION'S BUDGET, INCLUDING THE REASONABLENESS OF SALARIES. SALARY DISCUSSIONS ARE MADE IN EXECUTIVE SESSION AND RESULTS ARE DOCUMENTED IN BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CAPITAL OUTLAY: PROGRAM SERVICE EXPENSES 5,008. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,008.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD OF DIRECTORS OVERSEE THE AUDIT PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 12, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
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IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt05455670
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IRS990/TotalLiabilitiesEOYAmt011585151
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IRS990/TotalLiabilitiesGrp/EOYAmt011585151
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1891977
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IRS990/TotalProgramServiceExpensesAmt04774912
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IRS990/TotalReportableCompFromOrgAmt097712
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04686836
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt092
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09693174
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-6768
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 2592
IRS990/USAddress/CityNm0ROCK HILL
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029732
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.RIVERWALKACADEMY.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MARIANN CARTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,693,174
Liabilities
$11,585,151
Net assets
-$1,891,977
Revenue
$4,686,836
Expenses
$5,455,670
Net income
-$768,834
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$28.5$28.2$0.30$9.71$10.6$0.92
2023Detailed filing. Detailed filing data is available for this year.$14.8$13.5$1.23$8.06$7.68$0.38
2022Detailed filing. Detailed filing data is available for this year.$14.4$13.6$0.84$6.93$6.58$0.35
2021Detailed filing. Detailed filing data is available for this year.$14.2$13.7$0.50$6.66$3.99$2.67
2020Detailed filing. Detailed filing data is available for this year.$9.99$12.2$2.18$5.54$5.83$0.28
2019Detailed filing. Detailed filing data is available for this year.$9.69$11.6$1.89$4.69$5.46$0.77
2018Detailed filing. Detailed filing data is available for this year.$10.3$11.4$1.12$4.11$5.37$1.26
2017Detailed filing. Detailed filing data is available for this year.$11.3$10.8$0.50$4.54$4.60$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.63$0.06$0.57$2.55$2.13$0.41
2015Detailed filing. Detailed filing data is available for this year.$0.23$0.07$0.16$1.87$1.63$0.24
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.07$0.06$0.00