Civic Intelligence

Liberty Christian Academy Inc

EIN 46-2975770 • 501(c)3 • Richlands, NC

Profile

To provide quality education from pre-k through high school

PO Box 397Richlands, NC 28574

liberty-academy.net

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

27th percentile

0.04x

Higher debt load relative to assets than 27% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

16th percentile

0.02x

Higher debt load relative to revenue than 16% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2025

Net Margin

71st percentile

15%

Higher net margin than 71% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

33rd percentile

$65,135

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

NTEE B • $5M-$10M nonprofits • Source year 2025

Asset Growth

85th percentile

36%

Faster asset growth than 85% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

76th percentile

34%

Faster revenue growth than 76% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2024 to 2025

Assets

Up

$2,382,889

Up $634,578 (+36%) from 2024

Liabilities

Down

$96,671

Down $189,021 (-66%) from 2024

Net Assets

Up

$2,286,218

Up $823,599 (+56%) from 2024

Revenue

Up

$5,482,637

Up $1,386,992 (+34%) from 2024

Expenses

Up

$4,659,038

Up $545,241 (+13%) from 2024

Net Income

Up

$823,599

Up $841,751 (+4637%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2021: $1,423,972Liabilities 2021: $343,276Net Assets 2021: $1,080,6962021Assets 2022: $1,769,894Liabilities 2022: $270,020Net Assets 2022: $1,499,8742022Assets 2023: $1,686,653Liabilities 2023: $205,882Net Assets 2023: $1,480,7712023Assets 2024: $1,748,311Liabilities 2024: $285,692Net Assets 2024: $1,462,6192024Assets 2025: $2,382,889Liabilities 2025: $96,671Net Assets 2025: $2,286,2182025

Highlighted filing

2025

Assets$2,382,889
Liabilities$96,671
Net Assets$2,286,218

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2021: $2,875,968Expenses 2021: $2,510,068Net Income 2021: $365,9002021Revenue 2022: $3,545,508Expenses 2022: $3,126,330Net Income 2022: $419,1782022Revenue 2023: $3,504,954Expenses 2023: $3,524,057Net Income 2023: -$19,1032023Revenue 2024: $4,095,645Expenses 2024: $4,113,797Net Income 2024: -$18,1522024Revenue 2025: $5,482,637Expenses 2025: $4,659,038Net Income 2025: $823,5992025

Highlighted filing

2025

Revenue$5,482,637
Expenses$4,659,038
Net Income$823,599

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 3, 2025
Return Version
2024v5.2
Gross Receipts
$5,482,637
Mission and Program Overview

Mission

To provide quality education from pre-k through high school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,573,889$1,594,295▲ $20,406
Cash and Non-Interest-Bearing Accounts$7,682$662,250▲ $654,568
Prepaid Expenses and Deferred Charges$717$0▼ $717
Total Assets$1,748,311$2,382,889▲ $634,578
Other Assets Total$166,023$126,344▼ $39,679
Liabilities
Mortgage Notes Payable Secured by Investment Property$274,128$87,799▼ $186,329
Other Liabilities$11,564$8,872▼ $2,692
Total Liabilities$285,692$96,671▼ $189,021
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,462,619$2,286,218▲ $823,599
Total Net Assets Fund Balance$1,462,619$2,286,218▲ $823,599
Total Liabilities and Net Assets / Fund Balance$1,748,311$2,382,889▲ $634,578

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$551,979$280,830-
Other Land Buildings$222,314$77,470-
Land$0--
Equipment$188,721$484,189-
Leasehold Improvements$631,281$125,889-
Other Assets Org$126,344--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Cheryl CavanaughLCA Head of SchoolFT$65,135$65,135
Toni HendersonBookkeeperPT$23,200$23,200

Board Members and Trustees

NameTitle
Amy RhodesChairman of the Board
Annette CavanaughMember
Bob DixonMember
Derek NorthernMember
Dr Chrystal RooksMember
Gina ShepardMember
Revenue and Support

Revenue Composition

Contributions and Grants
$3,436,613
Program Service Revenue
$1,462,666
Investment Income
$101,771
Other Revenue
$481,587
Change in Net Assets
$823,599
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,639,656
Other Expenses$2,019,382
Total Fundraising Expense$5,760
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,836,303$0$0$1,836,303
All Other Expenses$829,667$124,042$5,760$959,469
Current Officers, Directors, Trustees, and Key Employees$0$588,437$0$588,437
Payroll Taxes$152,677$48,214$0$200,891
Depreciation Depletion$143,039$24,635$0$167,674
Insurance$58,360$65,453$0$123,813
Fees for Services Accounting$0$112,021$0$112,021
Travel$57,713$0$0$57,713
Information Technology$33,717$10,647$0$44,364
Other Expenses$7,025$36,943$0$43,968
Advertising$0$18,467$0$18,467
Pension Plan Contributions$10,659$3,366$0$14,025
Interest$9,179$0$0$9,179
Conferences and Meetings$9,068$0$0$9,068
Office Expenses$0$7,289$0$7,289
Total Functional Expenses$3,613,764$1,039,514$5,760$4,659,038
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
-LLC Partners are TrusteesLong-term lease of real propertyNo$524,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilites$8,633
Student Accounts Liabilities$239
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
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
Yes
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
Liberty Christian Academy Inc
EIN
46-2975770
Phone
9104300741
Address
PO Box 397, Richlands, NC 28574

Signing Officer

Name
Cheryl Cavanaugh
Title
Head of School
Phone
9104300741
Signed
2025-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cheryl Cavanaugh
Formed
2020
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
112
Volunteers
0

Preparer

Firm
Quinn-Beasley Accounting Services Inc
Address
125 Duplin Professional Court, Warsaw, NC 28398
Preparer
Robert Quinn
Phone
9102937141
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

Head of School, Chairman of the Board and 2 members have a family relationship.

Pt VI, Line 8A

The board meet on a quarterly basis, and all minutes were recorded.

Pt VI, Line 11B

A copy of the 990 will be provided to all board members for review.

Pt VI, Line 12C

A review was conducted by an independent accountant. All related party relationships were disclosed in the notes to financial statements.

Pt VI, Line 15A

The compensation for the Head of School was approved by the Board.

Pt VI, Line 15B

The compensation for the principals and other administrators was approved by the Board.

Pt XI

Investment contributed upon conversion from S-corp to Non-profit.

Form 990, Part IX, Line 24E

Janitorial and cleaning supplies 19806. 0. 19806. 0.

Form 990, Part IX, Line 24E

Meals 28292. 28292. 0. 0.

Form 990, Part IX, Line 24E

Rent expense 524000. 524000. 0. 0.

Form 990, Part IX, Line 24E

Repairs and maintenance 209670. 209670. 0. 0.

Form 990, Part IX, Line 24E

Utilities 72831. 62279. 10552. 0.

Form 990, Part IX, Line 24E

Waste disposal 5740. 0. 5740. 0.

Form 990, Part IX, Line 24E

Equipment Rental 47366. 0. 47366. 0.

Form 990, Part IX, Line 24E

Taxes-Property & Business 35270. 0. 35270. 0.

Form 990, Part IX, Line 24E

Bank Fees 2220. 0. 2220. 0.

Form 990, Part IX, Line 24E

Telephone 3088. 0. 3088. 0.

Form 990, Part IX, Line 24E

Fundraising Expense 5760. 0. 0. 5760.

Form 990, Part IX, Line 24E

Miscellaneous Expense 5426. 5426. 0. 0.

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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0717
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Cheryl Cavanaugh
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/Desc0Tuition and Fees
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01462666
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt02109671
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt05529
IRS990/PYOtherExpensesAmt01682909
IRS990/PYProgramServiceRevenueAmt01980445
IRS990/PYRevenuesLessExpensesAmt0-18152
IRS990/PYSalariesCompEmpBnftPaidAmt02430888
IRS990/PYTotalExpensesAmt04113797
IRS990/PYTotalRevenueAmt04095645
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0823599
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01462666
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0551979
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0280830
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0832809
IRS990ScheduleD/EquipmentGrp/BookValueAmt0188721
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0484189
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0672910
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0631281
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0125889
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0757170
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0126344
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Restricted cash and cash equivalents
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0222314
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt077470
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0299784
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08633
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1239
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Liabilites
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Student Accounts Liabilities
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01594295
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0126344
IRS990ScheduleD/TotalLiabilityAmt08872
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/ExplanationTxt0Students receive Opportunity Scholarship or Disability Grants through the NCSEAA. An independent review is done each year so the school is eligible to accept these awards.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0NBI Financial LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0LLC Partners are Trustees
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0524000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Long-term lease of real property
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Head of School, Chairman of the Board and 2 members have a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The board meet on a quarterly basis, and all minutes were recorded.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A copy of the 990 will be provided to all board members for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A review was conducted by an independent accountant. All related party relationships were disclosed in the notes to financial statements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The compensation for the Head of School was approved by the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The compensation for the principals and other administrators was approved by the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Investment contributed upon conversion from S-corp to Non-profit.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Janitorial and cleaning supplies 19806. 0. 19806. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Meals 28292. 28292. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Rent expense 524000. 524000. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Repairs and maintenance 209670. 209670. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Utilities 72831. 62279. 10552. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12Waste disposal 5740. 0. 5740. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13Equipment Rental 47366. 0. 47366. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14Taxes-Property & Business 35270. 0. 35270. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15Bank Fees 2220. 0. 2220. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt16Telephone 3088. 0. 3088. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt17Fundraising Expense 5760. 0. 0. 5760.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt18Miscellaneous Expense 5426. 5426. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc15Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc16Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc17Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc18Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false

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