Civic Intelligence

Thunderbird Preparatory Academy Inc.

990 • Fiscal year 2021 • EIN 46-5055270

Jul 01, 2020 to Jun 30, 2021 • Filed on May 03, 2023

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

82nd percentile

0.58x

Higher debt load relative to assets than 82% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

53rd percentile

0.11x

Higher debt load relative to revenue than 53% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Net Margin

59th percentile

18%

Higher net margin than 59% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Asset Growth

82nd percentile

53%

Faster asset growth than 82% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

81st percentile

66%

Faster revenue growth than 81% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$518,767

Up $179,997 (+53%) from 2020

Net Assets

Up

$219,784

Up $474,703 (+186%) from 2020

Liabilities

Down

$298,983

Down $294,706 (-50%) from 2020

Revenue

Up

$2,676,176

Up $1,062,105 (+66%) from 2020

Expenses

Up

$2,201,473

Up $695,954 (+46%) from 2020

Net Income

Up

$474,703

Up $366,151 (+337%) from 2020

Historical Trend

Balance Sheet Trend

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

2021

Assets$518,767
Liabilities$298,983
Net Assets$219,784

Operations Trend

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

2021

Revenue$2,676,176
Expenses$2,201,473
Net Income$474,703
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 3, 2023
Return Version
2020v4.0
Gross Receipts
$2,676,176
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, nuturing 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
Cash and Non-Interest-Bearing Accounts$77,358$301,611▲ $224,253
Land, Buildings, and Equipment, Net$206,594$198,414▼ $8,180
Accounts Receivable$48,799$13,814▼ $34,985
Prepaid Expenses and Deferred Charges$6,019$1,218▼ $4,801
Total Assets$338,770$518,767▲ $179,997
Other Assets Total-$3,710-
Liabilities
Unsecured Notes Loans Payable$351,745$250,000▼ $101,745
Other Liabilities$241,944$42,650▼ $199,294
Accounts Payable and Accrued Expenses-$6,333-
Total Liabilities$593,689$298,983▼ $294,706
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-254,919$219,784▲ $474,703
Total Net Assets Fund Balance$-254,919$219,784▲ $474,703
Total Liabilities and Net Assets / Fund Balance$338,770$518,767▲ $179,997

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$173,010$49,628$222,638
Equipment$11,677$22,337$34,014
Other Land Buildings$13,727$13,302$27,029
Compensation and Service Providers

Board Members and Trustees

NameTitle
Taft MorleyBoard Chair
Stephanie DixonBoard Member
Jason GuffeyBoard Vice C
Kelly Singleton HeaddIncomeing Tr
Angela HansenSecretary
Melissa WiseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,554,954
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$121,222
All Other Contributions
$23,965
Change in Net Assets
$474,703

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,676,176
Total Revenue per Audited Statements
$2,676,176
Total Revenue per Form 990
$2,676,176
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,104,744
Salaries, Compensation, and Employee Benefits$1,096,729
Total Fundraising Expense$11,813
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$571,076$350,014-$921,090
Occupancy$321,936$197,315-$519,251
Fees for Services Other$109,633$67,194-$176,827
Other Employee Benefits$67,507$41,376-$108,883
Information Technology$47,021$28,820-$75,841
Interest$42,160$25,840-$68,000
Payroll Taxes$41,389$25,367-$66,756
Office Expenses$19,909$12,202-$32,111
Insurance$18,578$11,387-$29,965
Depreciation Depletion$16,159--$16,159
Fees for Services Accounting-$12,426-$12,426
Other Expenses$21,872$13,406$11,813$11,813
Advertising$5,413$3,317-$8,730
Total Functional Expenses$1,356,025$833,635$11,813$2,201,473

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,201,473
Total Expenses per Audited Statements$2,201,473
Total Expenses per Form 990$2,201,473
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
Short Term Note Payable$42,650
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
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
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 Prepartory Academy Inc
EIN
46-5055270
Address
17609 OLD STATESVILLE ROAD, CORNELIUS, NC 28031
Doing Business As
Lakeside Charter Academy

Signing Officer

Name
Kelly Singleton Headd
Title
Incomeing Treasurer
Signed
2023-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Taft Morley
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
37

Preparer

Firm
Sharpe Patel CPA
Address
325 ARLINGTON AVE STE 630, CHARLOTTE, NC 28203
Preparer
Megan Rushford CPA
Phone
7044993893
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, nuturing 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.

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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0173010
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt049628
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0222638
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt013727
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt013302
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt027029
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt042650
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SHORT TERM NOTE PAYABLE
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt0198414
IRS990ScheduleD/TotalExpensesPerForm990Amt02201473
IRS990ScheduleD/TotalLiabilityAmt042650
IRS990ScheduleD/TotalRevenuePerForm990Amt02676176
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PUBLISHED ON SCHOOLS WEBSITE WITH THE ADMISSION APPLICATION PROCEDURES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1LAKESIDE CHARTER ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2LAKESIDE CHARTER ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, LINE 6
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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, NUTURING 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.
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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IRS990/TotalGrossUBIAmt00
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IRS990/USAddress/CityNm0CORNELIUS
IRS990/USAddress/StateAbbreviationCd0NC
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IRS990/WebsiteAddressTxt0WWW.LAKESIDECHARTERACADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KELLY SINGLETON HEADD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0INCOMEING TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THUNDERBIRD PREPARTORY ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0THUN
ReturnHeader/Filer/EIN0465055270
ReturnHeader/Filer/USAddress/AddressLine1Txt017609 OLD STATESVILLE ROAD
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ReturnHeader/Filer/USAddress/ZIPCd028031
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0844233121
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHARPE PATEL CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0325 ARLINGTON AVE STE 630
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028203
ReturnHeader/PreparerPersonGrp/PhoneNum07044993893
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MEGAN RUSHFORD CPA
ReturnHeader/ReturnTs02023-05-04T15:33:36-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KELLY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HEADD
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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