Civic Intelligence

Nansemond-Suffolk Academy Educational Foundation

990 • Fiscal year 2018 • EIN 47-2360748

Oct 01, 2017 to Sep 30, 2018 • Filed on Mar 12, 2019

Organization ProfileN/A
3373 Pruden BlvdSuffolk, VA 23434

(757) 539-8789

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

74th percentile

18%

Higher net margin than 74% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

97th percentile

407%

Faster asset growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

90th percentile

77%

Faster revenue growth than 90% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$63,981

Up $51,367 (+407%) from 2017

Net Assets

Up

$63,981

Up $51,367 (+407%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin74th percentile

Revenue

Up

$288,092

Up $125,576 (+77%) from 2017

Expenses

Up

$236,725

Up $84,323 (+55%) from 2017

Net Income

Up

$51,367

Up $41,253 (+408%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$150K$100K$50K$0Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014Assets 2017: $12,614Liabilities 2017: $0Net Assets 2017: $12,6142017Assets 2018: $63,981Liabilities 2018: $0Net Assets 2018: $63,9812018Assets 2019: $4,200Liabilities 2019: $0Net Assets 2019: $4,2002019Assets 2020: $10,824Liabilities 2020: $0Net Assets 2020: $10,8242020Assets 2021: $41,302Liabilities 2021: $0Net Assets 2021: $41,3022021Assets 2022: $54,558Liabilities 2022: $0Net Assets 2022: $54,5582022Assets 2023: $33,537Liabilities 2023: $0Net Assets 2023: $33,5372023Assets 2024: $141,183Liabilities 2024: $0Net Assets 2024: $141,1832024Assets 2025: $56,755Liabilities 2025: $0Net Assets 2025: $56,7552025

Highlighted filing

2018

Assets$63,981
Liabilities$0
Net Assets$63,981
Open 2018 Filing

Operations Trend

Revenue Growth90th percentile

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

$600K$400K$200K$0-$200KRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2017: $162,516Expenses 2017: $152,402Net Income 2017: $10,1142017Revenue 2018: $288,092Expenses 2018: $236,725Net Income 2018: $51,3672018Revenue 2019: $195,004Expenses 2019: $254,785Net Income 2019: -$59,7812019Revenue 2020: $210,093Expenses 2020: $203,469Net Income 2020: $6,6242020Revenue 2021: $281,304Expenses 2021: $250,826Net Income 2021: $30,4782021Revenue 2022: $185,504Expenses 2022: $172,248Net Income 2022: $13,2562022Revenue 2023: $173,171Expenses 2023: $194,192Net Income 2023: -$21,0212023Revenue 2024: $411,975Expenses 2024: $304,329Net Income 2024: $107,6462024Revenue 2025: $202,272Expenses 2025: $286,700Net Income 2025: -$84,4282025

Highlighted filing

2018

Revenue$288,092
Expenses$236,725
Net Income$51,367
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Mar 12, 2019
Return Version
2017v2.3
Gross Receipts
$288,092
Mission and Program Overview

Mission

The mission of nansemond-suffolk academy educational foundation (the "foundation") is to provide need based financial aid for low income students attending nansemond-suffolk academy association, inc. (the "academy"), a virginia non-stock corporation, a tax exempt 501(c)(3) institute, or for students residing in the commonwealth of virginia, whose families meet guidelines established by the commonwealth of virginia relative to the poverty level. The foundation supports the academy and at least one other educational institution, which the foundation has designated as stonebridge school.

To provide need based financial aid for low income students attending nansemond-suffolk academy association

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$12,614$63,981▲ $51,367
Total Assets$12,614$63,981▲ $51,367
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Temporarily Rstr Net Assets$12,614$63,973▲ $51,359
Unrestricted Net Assets-$8-
Total Net Assets Fund Balance$12,614$63,981▲ $51,367
Total Liabilities and Net Assets / Fund Balance$12,614$63,981▲ $51,367
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Douglas C NaismithPresident
Mclemore J Birdsong JrVice President
G Robert Aston JrMember
Whitney G SaundersSecretary
S Paul HuberTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$288,088
Program Service Revenue
$0
Investment Income
$4
Other Revenue
$0
All Other Contributions
$288,088
Change in Net Assets
$51,367
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$235,000
Other Expenses$1,725
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$235,000--$235,000
Other Expenses-$1,725-$1,725
Total Functional Expenses$235,000$1,725$0$236,725
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Nansemond Suffolk Academy Association IncSuffolk, VA501(c)(3)Scholarships$230,000
Stonebridge SchoolChesapeake, VA501(c)(3)Scholarships$5,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is e-mailed to all board members for their review and they have the opportunity to make comments and suggest changes prior to filing with the irs.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy and finacial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Nansemond-suffolk Academy Educational
EIN
47-2360748
Phone
7575398789
Address
3373 PRUDEN BLVD, SUFFOLK, VA 23434

Signing Officer

Name
Dr Douglas C Naismith
Title
Chair
Phone
7575398789
Signed
2019-03-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Douglas C Naismith
Formed
2014
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Cherry Bekaert Llp
Address
1111 METROPOLITAN AVE STE 900, CHARLOTTE, NC 28204
Preparer
Amanda Adams
Phone
7043771678
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The foundation has evaluated the effect of guidance on accounting for uncertainty in income taxes. The foundation is a not-for-profit organization and is execmpt from taxation under section 501(c)(3) of the internal revenue code. Management believes the foundation continues to satisfy the requirements of a tax-exempt organization and, therefore, had no uncertain income tax positions at september 30, 2018.”

Raw XML Appendix317 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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IRS990/MissionDesc0THE MISSION OF NANSEMOND-SUFFOLK ACADEMY EDUCATIONAL FOUNDATION (THE "FOUNDATION") IS TO PROVIDE NEED BASED FINANCIAL AID FOR LOW INCOME STUDENTS ATTENDING NANSEMOND-SUFFOLK ACADEMY ASSOCIATION, INC. (THE "ACADEMY"), A VIRGINIA NON-STOCK CORPORATION, A TAX EXEMPT 501(C)(3) INSTITUTE, OR FOR STUDENTS RESIDING IN THE COMMONWEALTH OF VIRGINIA, WHOSE FAMILIES MEET GUIDELINES ESTABLISHED BY THE COMMONWEALTH OF VIRGINIA RELATIVE TO THE POVERTY LEVEL. THE FOUNDATION SUPPORTS THE ACADEMY AND AT LEAST ONE OTHER EDUCATIONAL INSTITUTION, WHICH THE FOUNDATION HAS DESIGNATED AS STONEBRIDGE SCHOOL.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS EVALUATED THE EFFECT OF GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION AND IS EXECMPT FROM TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THE FOUNDATION CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AND, THEREFORE, HAD NO UNCERTAIN INCOME TAX POSITIONS AT SEPTEMBER 30, 2018.
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE NANSEMOND-SUFFOLK EDUCATIONAL FOUNDATION MONITORS NANSEMOND-SUFFOLK ACADEMY AND STONEBRIDGE SCHOOL TO ENSURE THAT SCHOLARSHIP FUNDS ARE USED APPROPRIATELY BY OBTAINING SUPPORTING DOCUMENTATION, INCLUDING INDIVIDUAL TAX RETURNS, OF THE SCHOLARSHIP RECIPIENTS TO ENSURE THEY QUALIFY FOR THE INTENDED SCHOLARSHIP AS OUTLINED BY THE VIRGINIA DEPARTMENT OF EDUCATION'S EDUCATION IMPROVEMENT SCHOLARSHIP TAX CREDIT PROGRAM.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS E-MAILED TO ALL BOARD MEMBERS FOR THEIR REVIEW AND THEY HAVE THE OPPORTUNITY TO MAKE COMMENTS AND SUGGEST CHANGES PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINACIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
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IRS990/USAddress/ZIPCd023434
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DR DOUGLAS C NAISMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum07575398789
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NANSEMOND-SUFFOLK ACADEMY EDUCATIONAL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0NANS
ReturnHeader/Filer/EIN0472360748
ReturnHeader/Filer/PhoneNum07575398789
ReturnHeader/Filer/USAddress/AddressLine1Txt03373 PRUDEN BLVD
ReturnHeader/Filer/USAddress/CityNm0SUFFOLK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023434
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt068.142.180.174
ReturnHeader/FilingSecurityInformation/IPDt02019-03-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm014:10:49
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560574444
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CHERRY BEKAERT LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01111 METROPOLITAN AVE STE 900
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028204
ReturnHeader/PreparerPersonGrp/PhoneNum07043771678
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AMANDA ADAMS
ReturnHeader/ReturnTs02019-03-21T10:14:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$63,981
Liabilities
$0
Net assets
$63,981
Revenue
$288,092
Expenses
$236,725
Net income
$51,367
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$2.02$2.87$0.84
2024Detailed filing. Detailed filing data is available for this year.$1.41$0.00$1.41$4.12$3.04$1.08
2023Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$1.73$1.94$0.21
2022Detailed filing. Detailed filing data is available for this year.$0.55$0.00$0.55$1.86$1.72$0.13
2021Detailed filing. Detailed filing data is available for this year.$0.41$0.00$0.41$2.81$2.51$0.30
2020Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$2.10$2.03$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$1.95$2.55$0.60
2018Detailed filing. Detailed filing data is available for this year.$0.64$0.00$0.64$2.88$2.37$0.51
2017Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.13$1.63$1.52$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00