Civic Intelligence

Academy for Classical Education Inc.

990 • Fiscal year 2020 • EIN 46-3722435

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

Organization ProfileWWW.ACEMACON.ORG

View Organization Page

5665 New Forsyth RoadMacon, GA 31210

(478) 238-5757

Siviq Scores

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

Liabilities / Assets

97th percentile

1.30x

Higher debt load relative to assets than 97% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

89th percentile

2.96x

Higher debt load relative to revenue than 89% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

42nd percentile

1.8%

Higher net margin than 42% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

8th percentile

$0

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

68th percentile

15%

Faster asset growth than 68% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

85th percentile

35%

Faster revenue growth than 85% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$45,605,647

Up $5,870,445 (+15%) from 2019

Net Assets

Up

-$13,782,559

Up $369,818 (+2.6%) from 2019

Liabilities

Up

$59,388,206

Up $5,500,627 (+10%) from 2019

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin42nd percentile

Revenue

Up

$20,066,512

Up $5,197,087 (+35%) from 2019

Expenses

Up

$19,696,694

Up $2,381,733 (+14%) from 2019

Net Income

Up

$369,818

Up $2,815,354 (+115%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$100M$50M$0-$50MAssets 2015: $11,228,847Liabilities 2015: $11,157,090Net Assets 2015: $71,7572015Assets 2016: $18,815,877Liabilities 2016: $19,304,356Net Assets 2016: -$488,4792016Assets 2017: $38,807,727Liabilities 2017: $42,215,839Net Assets 2017: -$3,408,1122017Assets 2018: $39,142,134Liabilities 2018: $50,848,975Net Assets 2018: -$11,706,8412018Assets 2019: $39,735,202Liabilities 2019: $53,887,579Net Assets 2019: -$14,152,3772019Assets 2020: $45,605,647Liabilities 2020: $59,388,206Net Assets 2020: -$13,782,5592020Assets 2021: $50,470,204Liabilities 2021: $62,676,017Net Assets 2021: -$12,205,8132021Assets 2022: $51,845,006Liabilities 2022: $61,255,341Net Assets 2022: -$9,410,3352022Assets 2023: $58,688,206Liabilities 2023: $68,022,767Net Assets 2023: -$9,334,5612023Assets 2024: $58,102,413Liabilities 2024: $67,156,432Net Assets 2024: -$9,054,0192024

Highlighted filing

2020

Assets$45,605,647
Liabilities$59,388,206
Net Assets-$13,782,559
Open 2020 Filing

Operations Trend

Revenue Growth85th percentile

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

$30M$20M$10M$0-$10MRevenue 2015: $6,023,662Expenses 2015: $5,951,905Net Income 2015: $71,7572015Revenue 2016: $8,262,139Expenses 2016: $9,065,951Net Income 2016: -$803,8122016Revenue 2017: $10,867,148Expenses 2017: $13,786,781Net Income 2017: -$2,919,6332017Revenue 2018: $12,602,292Expenses 2018: $14,736,893Net Income 2018: -$2,134,6012018Revenue 2019: $14,869,425Expenses 2019: $17,314,961Net Income 2019: -$2,445,5362019Revenue 2020: $20,066,512Expenses 2020: $19,696,694Net Income 2020: $369,8182020Revenue 2021: $22,703,116Expenses 2021: $21,126,370Net Income 2021: $1,576,7462021Revenue 2022: $23,527,627Expenses 2022: $20,732,149Net Income 2022: $2,795,4782022Revenue 2023: $23,994,385Expenses 2023: $23,918,611Net Income 2023: $75,7742023Revenue 2024: $26,745,812Expenses 2024: $26,465,270Net Income 2024: $280,5422024

Highlighted filing

2020

Revenue$20,066,512
Expenses$19,696,694
Net Income$369,818
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.0
Gross Receipts
$20,066,512
Mission and Program Overview

Mission

The school's mission is to build the foundation of knowledge and critical thinking skills necessary for children to become independent learners for life.

Academy for classical education is a public charter school serving grades k-12 in macon, georgia.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$28,949,094$28,701,562▼ $247,532
Cash and Non-Interest-Bearing Accounts$897,717$4,578,292▲ $3,680,575
Investments Other Securities$2,497,098$2,439,821▼ $57,277
Accounts Receivable-$954,105-
Prepaid Expenses and Deferred Charges$180,627$95,878▼ $84,749
Pd in Cap Srpls Land Bldg Eqp Fund$-3,772,179$-5,430,863▼ $1,658,684
Rtn Earn Endowment Incm Other Fnds$-10,380,198$-8,351,696▲ $2,028,502
Total Assets$39,735,202$45,605,647▲ $5,870,445
Other Assets Total$7,210,666$8,835,989▲ $1,625,323
Liabilities
Tax Exempt Bond Liabilities$34,913,854$34,531,162▼ $382,692
Other Liabilities$17,354,080$23,121,390▲ $5,767,310
Accounts Payable and Accrued Expenses$1,619,645$1,735,654▲ $116,009
Total Liabilities$53,887,579$59,388,206▲ $5,500,627
Net Assets / Fund Balance
Total Net Assets Fund Balance$-14,152,377$-13,782,559▲ $369,818
Total Liabilities and Net Assets / Fund Balance$39,735,202$45,605,647▲ $5,870,445

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$26,672,613$4,545,928-
Land$865,019--
Equipment$1,163,930$871,246-
Other Assets Org$8,835,989--
Other Securities$2,439,821--
Compensation and Service Providers
Top Officer Pay8th percentile

Board Members and Trustees

NameTitle
Witt GaitherBoard Chairp
Ember BentleyDirector
George GreerDirector
Lee GillisDirector
Michael KrugerDirector
Ryan SchnetzerDirector
Walter StaffordDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$18,916,694
Program Service Revenue
$1,114,254
Investment Income
$35,564
Other Revenue
$0
All Other Contributions
$1,050,256
Change in Net Assets
$369,818

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,066,512
Total Revenue per Audited Statements
$20,066,512
Total Revenue per Form 990
$20,066,512
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$13,077,215
Other Expenses$6,619,479
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,928,393$356,608-$7,285,001
Pension Plan Contributions$3,638,713$187,286-$3,825,999
Interest$2,049,414--$2,049,414
Other Employee Benefits$1,554,742$69,616-$1,624,358
Occupancy$740,361$132,408-$872,769
Information Technology$219,728$13,276-$233,004
Current Officers, Directors, Trustees, and Key Employees$199,067--$199,067
Other Expenses$194,605--$194,605
All Other Expenses-$144,966-$144,966
Payroll Taxes$130,510$12,280-$142,790
Travel$78,758$13,482-$92,240
Fees for Services Management$32,990$45,223-$78,213
Insurance$53,008$20,983-$73,991
Office Expenses-$59,800-$59,800
Fees for Services Legal-$52,061-$52,061
Fees for Services Accounting-$13,250-$13,250
Advertising$1,040--$1,040
Total Functional Expenses$18,575,455$1,121,239$0$19,696,694

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$19,696,694
Total Expenses per Audited Statements$19,696,694
Total Expenses per Form 990$19,696,694
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
Pension Liabilities$21,080,306
Notes Payable$2,041,084

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMacon Bibb County Urban Dev2017-05-10$34,445,000FACILITIES CONSTRUCTION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$34,056,336--$343,416

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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

“The governing body reviews form 990 each fiscal year upon completion as an agenda item.”

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

“Governing board members are required, annually, to provide a written disclosure of any conflicts and to affirm their understanding of the policy.”

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

“Salaries are determined using both market data and comparative data from other public charter schools in georgia.”

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

“Salaries are determined using both market data and comparative data from other public charter schools in georgia.”

Form 990, Page 6, Part VI, Line 19

“All documents are available upon request as is stated on the school's website.”

Filing and Contact Details

Filer

Filer Name
Academy for Classical Education Inc
EIN
46-3722435
Address
5665 NEW FORSYTH ROAD, MACON, GA 31210

Signing Officer

Name
Laura Perkins
Title
Complex Principal
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pat Kelly
Formed
2013
Legal Domicile
Ga
Voting Board Members
7
Independent Board Members
7
Employees
253
Volunteers
500

Preparer

Firm
Easom & Easom Pc
Address
120 E UNION ST, VIENNA, GA 31092
Preparer
Marcelina L Easom
Phone
2292684795
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IRS990ScheduleD/EquipmentGrp/BookValueAmt01163930
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0871246
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFERRED INFLOW/OUTFLOW - PENSIONS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12041084
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NOTES PAYABLE
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0DEBT SERVICE RESERVE FUND
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt08835989
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IRS990ScheduleD/TotalLiabilityAmt023121390
IRS990ScheduleD/TotalRevenuePerForm990Amt020066512
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S RACIAL NONDISCRIMINATION POLICY IS CONTAINED ON ITS WEBSITE WHICH IS REFERENCED IN ALL MATERIALS RELATED TO SOLICIATION FOR ENROLLMENT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1ACADEMY FOR CLASSICAL EDUCATION IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2ACADEMY FOR CLASSICAL EDUCATION IS A PUBLIC CHARTER SCHOOL WHICH RECEIVED FUNDS FROM A GOVERNMENTAL AGENCY.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, LINE 6
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IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd0false
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0MACON BIBB COUNTY URBAN DEV FACILITIES CONSTRUCTION
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd0false
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0true
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02017-05-10
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0true
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0250768
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0343416
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt034056336
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BODY REVIEWS FORM 990 EACH FISCAL YEAR UPON COMPLETION AS AN AGENDA ITEM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING BOARD MEMBERS ARE REQUIRED, ANNUALLY, TO PROVIDE A WRITTEN DISCLOSURE OF ANY CONFLICTS AND TO AFFIRM THEIR UNDERSTANDING OF THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARIES ARE DETERMINED USING BOTH MARKET DATA AND COMPARATIVE DATA FROM OTHER PUBLIC CHARTER SCHOOLS IN GEORGIA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARIES ARE DETERMINED USING BOTH MARKET DATA AND COMPARATIVE DATA FROM OTHER PUBLIC CHARTER SCHOOLS IN GEORGIA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL DOCUMENTS ARE AVAILABLE UPON REQUEST AS IS STATED ON THE SCHOOL'S WEBSITE.
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/TotalEmployeeCnt0253
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt018575455
IRS990/TotalFunctionalExpensesGrp/TotalAmt019696694
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt053887579
IRS990/TotalLiabilitiesGrp/EOYAmt059388206
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-13782559
IRS990/TotalProgramServiceExpensesAmt018575455
IRS990/TotalProgramServiceRevenueAmt01114254
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01149818
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt020066512
IRS990/TotalVolunteersCnt0500
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt039735202
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt045605647
IRS990/TravelGrp/ManagementAndGeneralAmt013482
IRS990/TravelGrp/ProgramServicesAmt078758
IRS990/TravelGrp/TotalAmt092240
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05665 NEW FORSYTH RD
IRS990/USAddress/CityNm0MACON
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd031210
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.ACEMACON.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LAURA PERKINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COMPLEX PRINCIPAL
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACADEMY FOR CLASSICAL EDUCATION INC

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$45,605,647
Liabilities
$59,388,206
Net assets
-$13,782,559
Revenue
$20,066,512
Expenses
$19,696,694
Net income
$369,818
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$58.1$67.2$9.05$26.7$26.5$0.28
2023Detailed filing. Detailed filing data is available for this year.$58.7$68.0$9.33$24.0$23.9$0.08
2022Detailed filing. Detailed filing data is available for this year.$51.8$61.3$9.41$23.5$20.7$2.80
2021Detailed filing. Detailed filing data is available for this year.$50.5$62.7$12.2$22.7$21.1$1.58
2020Detailed filing. Detailed filing data is available for this year.$45.6$59.4$13.8$20.1$19.7$0.37
2019Detailed filing. Detailed filing data is available for this year.$39.7$53.9$14.2$14.9$17.3$2.45
2018Summary only. Only limited summary data is available for this year.$39.1$50.8$11.7$12.6$14.7$2.13
2017Summary only. Only limited summary data is available for this year.$38.8$42.2$3.41$10.9$13.8$2.92
2016Summary only. Only limited summary data is available for this year.$18.8$19.3$0.49$8.26$9.07$0.80
2015Summary only. Only limited summary data is available for this year.$11.2$11.2$0.07$6.02$5.95$0.07
Peer Organizations

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