Civic Intelligence

Thunderbird Preparatory Academy Inc.

990 • Fiscal year 2020 • EIN 46-5055270

Jul 01, 2019 to Jun 30, 2020 • Filed on May 03, 2021

Organization ProfileWWW.LAKESIDECHARTERACADEMY.CO
17609 Old Statesville RoadCornelius, NC 28031

(828) 287-7897

Siviq Scores

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

Liabilities / Assets

97th percentile

1.75x

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

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

Liabilities / Revenue

74th percentile

0.37x

Higher debt load relative to revenue than 74% of similar nonprofits.

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

Net Margin

56th percentile

6.7%

Higher net margin than 56% of similar nonprofits.

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

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

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

Asset Growth

9th percentile

-13%

Faster asset growth than 9% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2020

Revenue Growth

72nd percentile

14%

Faster revenue growth than 72% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2020

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$338,770

Down $104,525 (-24%) from 2018

Net Assets

Down

-$254,919

Down $183,911 (-259%) from 2018

Liabilities

Up

$593,689

Up $79,386 (+15%) from 2018

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin56th percentile

Revenue

Up

$1,614,071

Up $361,264 (+29%) from 2018

Expenses

Up

$1,505,519

Up $148,514 (+11%) from 2018

Net Income

Up

$108,552

Up $212,750 (+204%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2015: $451,599Liabilities 2015: $677,287Net Assets 2015: -$225,6882015Assets 2016: $628,220Liabilities 2016: $315,118Net Assets 2016: $313,1022016Assets 2017: $584,955Liabilities 2017: $552,088Net Assets 2017: $32,8672017Assets 2018: $443,295Liabilities 2018: $514,303Net Assets 2018: -$71,0082018Assets 2020: $338,770Liabilities 2020: $593,689Net Assets 2020: -$254,9192020Assets 2021: $518,767Liabilities 2021: $298,983Net Assets 2021: $219,7842021Assets 2022: $15,940,176Liabilities 2022: $16,598,431Net Assets 2022: -$658,2552022Assets 2023: $15,471,427Liabilities 2023: $16,435,606Net Assets 2023: -$964,1792023Assets 2024: $768,585Liabilities 2024: $91,861Net Assets 2024: $676,7242024

Highlighted filing

2020

Assets$338,770
Liabilities$593,689
Net Assets-$254,919
Open 2020 Filing

Operations Trend

Revenue Growth72nd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $4,592,445Expenses 2015: $4,818,133Net Income 2015: -$225,6882015Revenue 2016: $5,365,650Expenses 2016: $4,825,736Net Income 2016: $539,9142016Revenue 2017: $1,611,863Expenses 2017: $1,891,267Net Income 2017: -$279,4042017Revenue 2018: $1,252,807Expenses 2018: $1,357,005Net Income 2018: -$104,1982018Revenue 2020: $1,614,071Expenses 2020: $1,505,519Net Income 2020: $108,5522020Revenue 2021: $2,676,176Expenses 2021: $2,201,473Net Income 2021: $474,7032021Revenue 2022: $2,690,563Expenses 2022: $3,568,602Net Income 2022: -$878,0392022Revenue 2023: $2,803,630Expenses 2023: $2,760,556Net Income 2023: $43,0742023Revenue 2024: $3,389,941Expenses 2024: $3,580,489Net Income 2024: -$190,5482024

Highlighted filing

2020

Revenue$1,614,071
Expenses$1,505,519
Net Income$108,552
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 3, 2021
Return Version
2019v5.0
Gross Receipts
$1,614,071
Mission and Program Overview

Mission

Lakeside charter academy, in partnership with parents, will cultivate learners through scholarship, leadership, and citizenship lakeside charter academy will provide all students with the opportunity to experience a focused and coherent curriculum through the core knowledge sequence by e.d. Hirsch. This sequence emphasizes an academic foundation of a content rich curriculum that integrates skills and standards in a spiraling format. We believe in providing innovative, challenging, and rigorous academics in a safe, nurturing environment for children through objective achievement standards driven by proven curriculum, empowered teachers and constructive parental involvement in a true community setting. Lakeside charter serves children in the community from kindergarten to 8th grade. The fullest development of our students will occur through our pillars of scholarship, leadership and citizenship. These pillars include a challenging comprehensive academic program that can be differentiated

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$223,534$206,594▼ $16,940
Cash and Non-Interest-Bearing Accounts$6,705$77,358▲ $70,653
Accounts Receivable$28,512$48,799▲ $20,287
Prepaid Expenses and Deferred Charges$936$6,019▲ $5,083
Total Assets$259,687$338,770▲ $79,083
Liabilities
Unsecured Notes Loans Payable$349,470$351,745▲ $2,275
Other Liabilities$273,688$241,944▼ $31,744
Total Liabilities$623,158$593,689▼ $29,469
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-363,471$-254,919▲ $108,552
Total Net Assets Fund Balance$-363,471$-254,919▲ $108,552
Total Liabilities and Net Assets / Fund Balance$259,687$338,770▲ $79,083
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Taft MorleyChair
Angela HansonBoard Member
Stephanie DixonBoard Member
Jason GuffeyBoard Vice C
Melissa WiseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,330,521
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$283,550
All Other Contributions
$35,265
Change in Net Assets
$108,552

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,614,071
Total Revenue per Audited Statements
$1,614,071
Total Revenue per Form 990
$1,614,071
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,505,519
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$63,436--$63,436
Other Expenses$29,662--$29,662
Depreciation Depletion$16,940--$16,940
Total Functional Expenses$1,505,519$0$0$1,505,519

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,505,519
Total Expenses per Audited Statements$1,505,519
Total Expenses per Form 990$1,505,519
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
Other Liabilities$241,944
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Thunderbird Preparatory Academy Inc
EIN
46-5055270
Address
17609 OLD STATESVILLE ROAD, CORNELIUS, NC 28031
Doing Business As
Lakeside Charter Academy

Signing Officer

Name
Melissa Wise
Title
Treasurer
Signed
2021-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Taft Morley
Voting Board Members
5
Independent Board Members
5
Employees
42

Preparer

Firm
Ladd Mccall & Associates Cpas Pa
Address
PO BOX 527, HUNTERSVILLE, NC 28070
Preparer
Kandi a Ranson
Phone
7049920061
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Lakeside charter academy, in partnership with parents, will cultivate learners through scholarship, leadership, and citizenship lakeside charter academy will provide all students with the opportunity to experience a focused and coherent curriculum through the core knowledge sequence by e.d. Hirsch. This sequence emphasizes an academic foundation of a content rich curriculum that integrates skills and standards in a spiraling format. We believe in providing innovative, challenging, and rigorous academics in a safe, nurturing environment for children through objective achievement standards driven by proven curriculum, empowered teachers and constructive parental involvement in a true community setting. Lakeside charter serves children in the community from kindergarten to 8th grade. The fullest development of our students will occur through our pillars of scholarship, leadership and citizenship. These pillars include a challenging comprehensive academic program that can be differentiated for a large range of competencies. Our leadership curriculum is designed to develop confident and capable students that will participate in community service, civics instruction and focus student responsibility on becoming productive citizens in the community. Charter schools have the ability to encourage and inspire such opportunities.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LAKESIDE CHARTER ACADEMY, IN PARTNERSHIP WITH PARENTS, WILL CULTIVATE LEARNERS THROUGH SCHOLARSHIP, LEADERSHIP, AND CITIZENSHIP LAKESIDE CHARTER ACADEMY WILL PROVIDE ALL STUDENTS WITH THE OPPORTUNITY TO EXPERIENCE A FOCUSED AND COHERENT CURRICULUM THROUGH THE CORE KNOWLEDGE SEQUENCE BY E.D. HIRSCH. THIS SEQUENCE EMPHASIZES AN ACADEMIC FOUNDATION OF A CONTENT RICH CURRICULUM THAT INTEGRATES SKILLS AND STANDARDS IN A SPIRALING FORMAT. WE BELIEVE IN PROVIDING INNOVATIVE, CHALLENGING, AND RIGOROUS ACADEMICS IN A SAFE, NURTURING ENVIRONMENT FOR CHILDREN THROUGH OBJECTIVE ACHIEVEMENT STANDARDS DRIVEN BY PROVEN CURRICULUM, EMPOWERED TEACHERS AND CONSTRUCTIVE PARENTAL INVOLVEMENT IN A TRUE COMMUNITY SETTING. LAKESIDE CHARTER SERVES CHILDREN IN THE COMMUNITY FROM KINDERGARTEN TO 8TH GRADE. THE FULLEST DEVELOPMENT OF OUR STUDENTS WILL OCCUR THROUGH OUR PILLARS OF SCHOLARSHIP, LEADERSHIP AND CITIZENSHIP. THESE PILLARS INCLUDE A CHALLENGING COMPREHENSIVE ACADEMIC PROGRAM THAT CAN BE DIFFERENTIATED FOR A LARGE RANGE OF COMPETENCIES. OUR LEADERSHIP CURRICULUM IS DESIGNED TO DEVELOP CONFIDENT AND CAPABLE STUDENTS THAT WILL PARTICIPATE IN COMMUNITY SERVICE, CIVICS INSTRUCTION AND FOCUS STUDENT RESPONSIBILITY ON BECOMING PRODUCTIVE CITIZENS IN THE COMMUNITY. CHARTER SCHOOLS HAVE THE ABILITY TO ENCOURAGE AND INSPIRE SUCH OPPORTUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KANDI A RANSON
ReturnHeader/ReturnTs02021-05-06T09:19:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$338,770
Liabilities
$593,689
Net assets
-$254,919
Revenue
$1,614,071
Expenses
$1,505,519
Net income
$108,552
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.77$0.09$0.68$3.39$3.58$0.19
2023Detailed filing. Detailed filing data is available for this year.$15.5$16.4$0.96$2.80$2.76$0.04
2022Detailed filing. Detailed filing data is available for this year.$15.9$16.6$0.66$2.69$3.57$0.88
2021Detailed filing. Detailed filing data is available for this year.$0.52$0.30$0.22$2.68$2.20$0.47
2020Detailed filing. Detailed filing data is available for this year.$0.34$0.59$0.25$1.61$1.51$0.11
2018Summary only. Only limited summary data is available for this year.$0.44$0.51$0.07$1.25$1.36$0.10
2017Summary only. Only limited summary data is available for this year.$0.58$0.55$0.03$1.61$1.89$0.28
2016Detailed filing. Detailed filing data is available for this year.$0.63$0.32$0.31$5.37$4.83$0.54
2015Detailed filing. Detailed filing data is available for this year.$0.45$0.68$0.23$4.59$4.82$0.23