Civic Intelligence

Union County Charter Education Association

990 • Fiscal year 2018 • EIN 46-5749321

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2019

2324 Younts RoadIndian Trail, NC 28079

(704) 893-3607

Siviq Scores

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

Liabilities / Assets

91st percentile

1.09x

Higher debt load relative to assets than 91% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

87th percentile

2.11x

Higher debt load relative to revenue than 87% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Source year 2018

Net Margin

11th percentile

-15%

Higher net margin than 11% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

18th percentile

$0

Higher top officer pay than 18% of similar nonprofits.

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

2018 filings • NTEE B • $10M-$25M nonprofits • Source year 2018

Asset Growth

14th percentile

-6.1%

Faster asset growth than 14% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

74th percentile

19%

Faster revenue growth than 74% of similar nonprofits.

2018 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Down

$13,357,635

Down $871,448 (-6.1%) from 2017

Net Assets

Down

-$1,210,174

Down $1,002,500 (-483%) from 2017

Liabilities

Up

$14,567,809

Up $131,052 (+0.9%) from 2017

Revenue

Up

$6,889,612

Up $1,091,190 (+19%) from 2017

Expenses

Up

$7,892,112

Up $1,886,016 (+31%) from 2017

Net Income

Down

-$1,002,500

Down $794,826 (-383%) from 2017

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2017: $14,229,083Liabilities 2017: $14,436,757Net Assets 2017: -$207,6742017Assets 2018: $13,357,635Liabilities 2018: $14,567,809Net Assets 2018: -$1,210,1742018Assets 2019: $12,874,386Liabilities 2019: $14,327,912Net Assets 2019: -$1,453,5262019Assets 2020: $12,408,459Liabilities 2020: $14,433,947Net Assets 2020: -$2,025,4882020Assets 2021: $12,495,232Liabilities 2021: $15,040,317Net Assets 2021: -$2,545,0852021Assets 2022: $15,226,387Liabilities 2022: $15,401,164Net Assets 2022: -$174,7772022Assets 2023: $11,588,957Liabilities 2023: $15,242,284Net Assets 2023: -$3,653,3272023Assets 2024: $19,399,441Liabilities 2024: $23,758,979Net Assets 2024: -$4,359,5382024

Highlighted filing

2018

Assets$13,357,635
Liabilities$14,567,809
Net Assets-$1,210,174

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2017: $5,798,422Expenses 2017: $6,006,096Net Income 2017: -$207,6742017Revenue 2018: $6,889,612Expenses 2018: $7,892,112Net Income 2018: -$1,002,5002018Revenue 2019: $8,427,490Expenses 2019: $8,670,842Net Income 2019: -$243,3522019Revenue 2020: $8,921,443Expenses 2020: $9,493,405Net Income 2020: -$571,9622020Revenue 2021: $9,398,054Expenses 2021: $9,917,651Net Income 2021: -$519,5972021Revenue 2022: $11,014,801Expenses 2022: $11,786,644Net Income 2022: -$771,8432022Revenue 2023: $11,680,431Expenses 2023: $12,206,168Net Income 2023: -$525,7372023Revenue 2024: $12,816,162Expenses 2024: $13,522,373Net Income 2024: -$706,2112024

Highlighted filing

2018

Revenue$6,889,612
Expenses$7,892,112
Net Income-$1,002,500
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2019
Return Version
2017v2.3
Gross Receipts
$6,889,612
Mission and Program Overview

Mission

To build a student-centered learning environment that is project-based and technology-driven in which students can reach their academic potential. We value academic success through the use of data to meet individual diverse student needs. Union preparatory academy will foster a culture of innovation and inquiry using technology as the medium.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$12,948,377$12,466,896▼ $481,481
Cash and Non-Interest-Bearing Accounts$1,029,339$431,598▼ $597,741
Pledges and Grants Receivable$50,837$185,518▲ $134,681
Accounts Receivable$113,222$156,459▲ $43,237
Prepaid Expenses and Deferred Charges$38,298$61,499▲ $23,201
Total Assets$14,229,083$13,357,635▼ $871,448
Other Assets Total$49,010$55,665▲ $6,655
Liabilities
Other Liabilities$13,276,065$13,859,276▲ $583,211
Accounts Payable and Accrued Expenses$1,160,692$708,533▼ $452,159
Total Liabilities$14,436,757$14,567,809▲ $131,052
Net Assets / Fund Balance
Unrestricted Net Assets$-207,674$-1,210,174▼ $1,002,500
Total Net Assets Fund Balance$-207,674$-1,210,174▼ $1,002,500
Total Liabilities and Net Assets / Fund Balance$14,229,083$13,357,635▼ $871,448

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,786,092$593,174$12,379,266
Equipment$679,187$483,272$1,162,459
Leasehold Improvements$1,617$383$2,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael AlvarezPresident
Heather WhillierDirector
Mian RexDirector
Nicole BlevinsSecretary
Chipper LongTreasurer
Tricia GreenVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Charter Schools USAManagement Serv-$258,445
Revenue and Support

Revenue Composition

Contributions and Grants
$6,466,523
Program Service Revenue
$209,528
Investment Income
$0
Other Revenue
$213,561
Change in Net Assets
$-1,002,500

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,889,612
Total Revenue per Audited Statements
$6,889,612
Total Revenue per Form 990
$6,889,612
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,286,889
Salaries, Compensation, and Employee Benefits$3,605,223
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,023,805$50,812-$3,074,617
Interest-$1,611,770-$1,611,770
Fees for Services Other$220,670$946,046-$1,166,716
Depreciation Depletion$591,101--$591,101
Other Employee Benefits$509,764$11,840-$521,604
Office Expenses$307,876$99,561-$407,437
Occupancy$2,839$149,426-$152,265
Travel$15,006$27,010-$42,016
Information Technology$22,956$9,712-$32,668
Fees for Services Accounting-$30,059-$30,059
Insurance-$28,069-$28,069
Pension Plan Contributions$9,002--$9,002
Fees for Services Legal-$6,630-$6,630
Advertising-$908-$908
Other Expenses$20,604$200-$200
Total Functional Expenses$4,754,161$3,137,951$0$7,892,112

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,892,112
Total Expenses per Audited Statements$7,892,112
Total Expenses per Form 990$7,892,112
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
Leases Payable$12,884,482
Accrued Interest$974,794
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 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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Management is delegated to charter schools usa.

Form 990, Page 6, Part VI, Line 11B

A copy will be provided to board members for review.

Form 990, Page 6, Part VI, Line 19

All information is available on site by request and available through foundation websites or non-profit websites via the internet such as guidestar.org.

Filing and Contact Details

Filer

Filer Name
Union County Charter Education
EIN
46-5749321
Phone
7048933607
Address
2324 YOUNTS ROAD, INDIAN TRAIL, NC 28079
Doing Business As
Union Prepatory Academy at Indian

Signing Officer

Name
Michael Alvarez
Title
President
Phone
7048933607
Signed
2019-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Alvarez
Formed
2015
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Rives & Associates Llp
Address
212 W CENTER ST, LEXINGTON, NC 27292-3012
Preparer
Leon L Rives Ii
Phone
3362488281
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

TRAIL

FORM 990 - ORGANIZATION'S MISSION

To build a student-centered learning environment that is project-based and technology-driven in which students can reach their academic potential. We value academic success through the use of data to meet individual diverse student needs. Union preparatory academy will foster a culture of innovation and inquiry using technology as the medium.

Form 990, Part IX, Line 11G

Other contract services 140,381 868,294 0 professional fees 80,289 0 0 repairs and maint 0 77,752 0 total 220,670 946,046 0

Raw XML Appendix392 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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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01617
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0383
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt02000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt012884482
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1974794
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED INTEREST
IRS990ScheduleD/RevenueSubtotalAmt06889612
IRS990ScheduleD/TotalBookValueLandBuildingsAmt012466896
IRS990ScheduleD/TotalExpensesPerForm990Amt07892112
IRS990ScheduleD/TotalLiabilityAmt013859276
IRS990ScheduleD/TotalRevenuePerForm990Amt06889612
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06889612
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07892112
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0false
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0false
IRS990ScheduleE/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0false
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0UNION PREPARATORY ACADEMY AT INDIAN TRAIL IS A PUBLIC CHARTER SCHOOL AND NOT REQUIRED TO FILE FORM 5578.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1UNION PREPARATORY ACADEMY AT INDIAN TRAIL IS A PUBLIC CHARTER SCHOOL AND NOT REQUIRED TO FILE FORM 5578.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL IS ORGANIZED AS A CHARTER SCHOOL UNDER THE NORTH CAROLINA GENERAL STATUTE 115C-218. ACCORDINGLY, IT RECEIVES BOTH FEDERAL AND STATE FUNDING AS ITS PRIMARY MEANS OF SUPPORT.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TRAIL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO BUILD A STUDENT-CENTERED LEARNING ENVIRONMENT THAT IS PROJECT-BASED AND TECHNOLOGY-DRIVEN IN WHICH STUDENTS CAN REACH THEIR ACADEMIC POTENTIAL. WE VALUE ACADEMIC SUCCESS THROUGH THE USE OF DATA TO MEET INDIVIDUAL DIVERSE STUDENT NEEDS. UNION PREPARATORY ACADEMY WILL FOSTER A CULTURE OF INNOVATION AND INQUIRY USING TECHNOLOGY AS THE MEDIUM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT IS DELEGATED TO CHARTER SCHOOLS USA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY WILL BE PROVIDED TO BOARD MEMBERS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL INFORMATION IS AVAILABLE ON SITE BY REQUEST AND AVAILABLE THROUGH FOUNDATION WEBSITES OR NON-PROFIT WEBSITES VIA THE INTERNET SUCH AS GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER CONTRACT SERVICES 140,381 868,294 0 PROFESSIONAL FEES 80,289 0 0 REPAIRS AND MAINT 0 77,752 0 TOTAL 220,670 946,046 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt013357635
IRS990/TotalAssetsGrp/BOYAmt014229083
IRS990/TotalAssetsGrp/EOYAmt013357635
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IRS990/TotalContributionsAmt06466523
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04754161
IRS990/TotalFunctionalExpensesGrp/TotalAmt07892112
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014436757
IRS990/TotalLiabilitiesEOYAmt014567809
IRS990/TotalLiabilitiesGrp/BOYAmt014436757
IRS990/TotalLiabilitiesGrp/EOYAmt014567809
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-207674
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1210174
IRS990/TotalProgramServiceExpensesAmt04754161
IRS990/TotalProgramServiceRevenueAmt0209528
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0423089
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06889612
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014229083
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013357635
IRS990/TravelGrp/ManagementAndGeneralAmt027010
IRS990/TravelGrp/ProgramServicesAmt015006
IRS990/TravelGrp/TotalAmt042016
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-207674
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1210174
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02324 YOUNTS ROAD
IRS990/USAddress/CityNm0INDIAN TRAIL
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028079
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.INDIANTRAILPREP.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL ALVAREZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07048933607
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0UNION COUNTY CHARTER EDUCATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0UNIO
ReturnHeader/Filer/EIN0465749321
ReturnHeader/Filer/PhoneNum07048933607
ReturnHeader/Filer/USAddress/AddressLine1Txt02324 YOUNTS ROAD
ReturnHeader/Filer/USAddress/CityNm0INDIAN TRAIL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028079
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId043F9164A0A51129370D0BA8D0C50CA946E2AAA97
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CD290C9955F20E171EA5AD8972B298B277121FAA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt066.77.128.118
ReturnHeader/FilingSecurityInformation/IPDt02019-05-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:30:33
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0200427530
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RIVES & ASSOCIATES LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0212 W CENTER ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LEXINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0272923012
ReturnHeader/PreparerPersonGrp/PhoneNum03362488281
ReturnHeader/PreparerPersonGrp/PreparationDt02019-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEON L RIVES II
ReturnHeader/ReturnTs02019-05-15T13:30:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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