Civic Intelligence

Beacon Education Inc.

990 • Fiscal year 2020 • EIN 47-3629354

Jul 01, 2019 to Jun 30, 2020 • Filed on Jun 28, 2021

4100 Sunglow DriveWilmington, NC 28405

(910) 338-5258

Siviq Scores

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

Liabilities / Assets

17th percentile

0.02x

Higher debt load relative to assets than 17% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.12x

Higher debt load relative to revenue than 27% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

87th percentile

37%

Higher net margin than 87% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2020

Asset Growth

97th percentile

147%

Faster asset growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

85th percentile

34%

Faster revenue growth than 85% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$14,011,727

Up $8,348,443 (+147%) from 2019

Net Assets

Up

$13,768,764

Up $8,406,843 (+157%) from 2019

Liabilities

Down

$242,963

Down $58,400 (-19%) from 2019

Revenue

Up

$2,080,547

Up $524,689 (+34%) from 2019

Expenses

Down

$1,301,706

Down $8,709,906 (-87%) from 2019

Net Income

Up

$778,841

Up $9,234,595 (+109%) from 2019

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2016: $417,584Liabilities 2016: $19,390Net Assets 2016: $398,1942016Assets 2017: $5,995,103Liabilities 2017: $4,053Net Assets 2017: $5,991,0502017Assets 2018: $13,822,322Liabilities 2018: $11,616Net Assets 2018: $13,810,7062018Assets 2019: $5,663,284Liabilities 2019: $301,363Net Assets 2019: $5,361,9212019Assets 2020: $14,011,727Liabilities 2020: $242,963Net Assets 2020: $13,768,7642020Assets 2021: $15,878,873Liabilities 2021: $57,995Net Assets 2021: $15,820,8782021Assets 2022: $19,342,813Liabilities 2022: $32,517Net Assets 2022: $19,310,2962022Assets 2023: $25,449,653Liabilities 2023: $37,484Net Assets 2023: $25,412,1692023Assets 2024: $30,528,383Liabilities 2024: $82,326Net Assets 2024: $30,446,0572024

Highlighted filing

2020

Assets$14,011,727
Liabilities$242,963
Net Assets$13,768,764

Operations Trend

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

$15M$10M$5.0M$0-$5.0M-$10MRevenue 2016: $426,543Expenses 2016: $28,349Net Income 2016: $398,1942016Revenue 2017: $5,920,867Expenses 2017: $305,693Net Income 2017: $5,615,1742017Revenue 2018: $8,235,466Expenses 2018: $425,299Net Income 2018: $7,810,1672018Revenue 2019: $1,555,858Expenses 2019: $10,011,612Net Income 2019: -$8,455,7542019Revenue 2020: $2,080,547Expenses 2020: $1,301,706Net Income 2020: $778,8412020Revenue 2021: $3,069,160Expenses 2021: $1,013,033Net Income 2021: $2,056,1272021Revenue 2022: $6,675,896Expenses 2022: $3,046,463Net Income 2022: $3,629,4332022Revenue 2023: $7,097,294Expenses 2023: $1,118,104Net Income 2023: $5,979,1902023Revenue 2024: $6,347,277Expenses 2024: $1,853,087Net Income 2024: $4,494,1902024

Highlighted filing

2020

Revenue$2,080,547
Expenses$1,301,706
Net Income$778,841
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jun 28, 2021
Return Version
2019v5.0
Gross Receipts
$2,227,593
Mission and Program Overview

Mission

Raising funds and developing programs in support of the transportation, facility, food services, enrichment and college preparedness of public charter schools within north carolina and affiliated with the yong women's leadership network.

Raising funds and developing programs in support of the transportation, facility, food services, enrichment and college preparedness of public charter schools within north carolina and affiliated with the young women's leadership network.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net-$7,622,200-
Investments in Publicly Traded Securities$1,525,021$2,279,576▲ $754,555
Cash and Non-Interest-Bearing Accounts$734,688$1,336,394▲ $601,706
Savings and Temporary Cash Investments$736,304$761,382▲ $25,078
Pledges and Grants Receivable$977,464$463,937▼ $513,527
Land, Buildings, and Equipment, Net$301,585$451,456▲ $149,871
Accounts Receivable$15,041$8,084▼ $6,957
Total Assets$5,663,284$14,011,727▲ $8,348,443
Other Assets Total$1,373,181$1,088,698▼ $284,483
Liabilities
Mortgage Notes Payable Secured by Investment Property$282,862$235,242▼ $47,620
Accounts Payable and Accrued Expenses$18,501$7,721▼ $10,780
Total Liabilities$301,363$242,963▼ $58,400
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,814,775$13,761,639▲ $9,946,864
Net Assets With Donor Restrictions$1,547,146$7,125▼ $1,540,021
Total Net Assets Fund Balance$5,361,921$13,768,764▲ $8,406,843
Total Liabilities and Net Assets / Fund Balance$5,663,284$14,011,727▲ $8,348,443

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$451,456$117,467$568,923
Other Assets Org$1,088,698--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Sandy SpiersChair
Teresa HuffmonVice Chair
Amanda MiersDirector
Felicia JonesDirector
Gregory UhlDirector
Judy GirardDirector
Katrina ReidmonDirector
Kelly TinsleyDirector
Kim NelsonDirector
Louise CogginsDirector
Margee HerringDirector
Mark MorozDirector
Rose ZimmerDirector
Delores RhodesSecretary
Joanne RocknessTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,399,901
Program Service Revenue
$77,000
Investment Income
$29,393
Other Revenue
$574,253
All Other Contributions
$1,283,168
Change in Net Assets
$778,841

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,080,547
Revenue Not Reported on Form 990
$229,791
Total Revenue per Audited Statements
$2,310,338
Total Revenue per Form 990
$2,080,547
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$993,125
Other Expenses$213,360
Salaries, Compensation, and Employee Benefits$95,221
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$993,125--$993,125
Depreciation Depletion-$104,535-$104,535
Other Salaries and Wages-$86,992-$86,992
Occupancy-$15,751-$15,751
Interest-$9,823-$9,823
Fees for Services Other-$9,037-$9,037
Office Expenses-$8,758-$8,758
Payroll Taxes-$8,229-$8,229
Travel-$7,617-$7,617
Advertising-$7,136-$7,136
Other Expenses$9,094$5,591-$5,591
Insurance-$4,866-$4,866
Fees for Services Accounting-$2,500-$2,500
Information Technology-$1,395-$1,395
All Other Expenses-$591-$591
Conferences and Meetings-$336-$336
Total Functional Expenses$1,002,219$299,487$0$1,301,706

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,525,695
Expenses per Audited Statements$1,301,706
Total Expenses per Form 990$1,301,706
Expenses Not Reported on Form 990$223,989
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Glow Wilmington IncWilmington, NC501c2Support$886,564
Girls Leadership Academy of WilmingWilmington, NC501c3Fund School Program$106,561
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$667,568
Fundraising Direct Expenses$147,046
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraisers$784,301$667,568$147,046$520,522
Total Events$784,301$667,568$147,046$520,522
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Finance committee reviews the 990 and makes recommendation to the board for approval.

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

Any board member with a conflict of interest, or perceived conflict of interest, does not take part on any discussion or vote on the issue.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Glow Nc Inc
EIN
47-3629354
Phone
9103385258
Address
4100 SUNGLOW DRIVE, WILMINGTON, NC 28405

Signing Officer

Name
Joanne Rockness
Title
Treasurer
Phone
9103385258
Signed
2021-06-28

Organization Details

Principal Officer
Sandy Spiers
Formed
2015
Legal Domicile
Nc
Voting Board Members
15
Independent Board Members
15
Employees
1
Volunteers
120

Preparer

Firm
Petway Mills & Pearson Pa
Address
PO BOX 1036, ZEBULON, NC 27597-1036
Preparer
James a Ridoutt
Phone
9192697405
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

Amended return filed to correct errors on original filing. Indicate address change (original return repored correct address but "address change" box not checked). Disclose state of legal domicile. Remove todd godbey from part vii. Board has determined that mr. Godbey is not an officer or top management official and should not be disclosed as such. Part viii, lines 2a & 2b. Disclose business codes. Part viii, line 11a. Decrease sales tax revenue by amount of sales tax paid (net of zero sales tax paid). Part viii, line 11. Disclose business code. Part ix, move line 5 amount to line 7. Part ix, line 24a. Move amount to line 1a and add to schedule i. Part ix, line 24b. Decrease sales tax expense by amount of sales tax paid (net). Revise schedule d, part xi to reflect changes to revenues and expenses. Remove schedule r and change answer to part iv, line 34. Board has determined that disclosed entities are no longer related organizations. Part xii, line 2a. Indicate seperate basis for audit (none indicated on original return). Change part iv, line 23 and part vii line 4 answers and remove schedule j, no longer applies since previously disclosed related entity was in error. Schedule i. Correction to line one.

FORM 990 - ORGANIZATION'S MISSION

Raising funds and developing programs in support of the transportation, facility, food services, enrichment and college preparedness of public charter schools within north carolina and affiliated with the young women's leadership network.

Form 990, Page 1, Part I, Line 6

Volunteers serve on committees of the board and assist wiht fundraisings activities and enrichment programs.

Form 990, Part XI, Line 9

Note receivable understated 7,622,200

Financial Statement Notes

Schedule D, Page 3, Part X

The organization has adopted the provisions of fasb asc 740-10-25 "accounting for uncertainty in income taxes". Under this provision, the organization must recognize the tax benefit associated with the tax taken for tax return purposes when it is more likely than not the position will be sustained. The implemenation had no impact on the organization's financial statements. The organization does not believe there are any material uncertain tax positions and, accordingly, it will not recognize any liability for unrecognized tax benefits. The foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax years in progress. The organization files its form 990 series tax returns in the u.s. Federal jurisdiction. The organization's returns are subject to examination by taxing authorities for a period of three years after the respective filing deadline. At june 30, 2020, the organization had no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.

Schedule D, Page 4, Part XI, Line 2D

Fundraising expenses reported on statement of revenue 147,046 net sales tax revenue & expense 76,943

Schedule D, Page 4, Part XII, Line 2D

Fundraising expenses reported on statement of revenue 147,046 net sales tax revenue & expense 76,943

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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt01395
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IRS990/InsuranceGrp/ManagementAndGeneralAmt04866
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IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0RAISING FUNDS AND DEVELOPING PROGRAMS IN SUPPORT OF THE TRANSPORTATION, FACILITY, FOOD SERVICES, ENRICHMENT AND COLLEGE PREPAREDNESS OF PUBLIC CHARTER SCHOOLS WITHIN NORTH CAROLINA AND AFFILIATED WITH THE YOUNG WOMEN'S LEADERSHIP NETWORK.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetUnrlzdGainsLossesInvstAmt05802
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt03814775
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt013761639
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt015751
IRS990/OccupancyGrp/TotalAmt015751
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt08758
IRS990/OfficeExpensesGrp/TotalAmt08758
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01373181
IRS990/OtherAssetsTotalGrp/EOYAmt01088698
IRS990/OtherChangesInNetAssetsAmt07622200
IRS990/OtherExpensesGrp/Desc0SALES TAX
IRS990/OtherExpensesGrp/Desc1OTHER PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc2MISCELLEANOUS EXPENSES
IRS990/OtherExpensesGrp/Desc3BUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt017403
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt18927
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt25591
IRS990/OtherExpensesGrp/ProgramServicesAmt09094
IRS990/OtherExpensesGrp/TotalAmt017403
IRS990/OtherExpensesGrp/TotalAmt19094
IRS990/OtherExpensesGrp/TotalAmt28927
IRS990/OtherExpensesGrp/TotalAmt35591
IRS990/OtherRevenueMiscGrp/BusinessCd0812900
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt053731
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt053731
IRS990/OtherRevenueTotalAmt053731
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt086992
IRS990/OtherSalariesAndWagesGrp/TotalAmt086992
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt07622200
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08229
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0SANDY SPIERS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0532420
IRS990/ProgramServiceRevenueGrp/BusinessCd1561499
IRS990/ProgramServiceRevenueGrp/Desc0BUS LEASING REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1ADMINISTRATIVE SERVICE FEE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt065000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt112000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt065000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt112000
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE FUNDS FOR CONSTRUCTION OF SCHOOL FACILITIES USED BY THE GIRLS LEADERSHIP ACADEMY.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0886564
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0886564
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYInvestmentIncomeAmt021047
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IRS990/PYOtherRevenueAmt0500873
IRS990/PYRevenuesLessExpensesAmt0-8455754
IRS990/PYSalariesCompEmpBnftPaidAmt053142
IRS990/PYTotalExpensesAmt010011612
IRS990/PYTotalRevenueAmt01555858
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0778841
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
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IRS990/RevenueAmt077000
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt07675605
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01927100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0508226
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt012544770
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt029393
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt021047
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt04522
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01914
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt056876
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01429402
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/TotalSupportAmt012601646
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt0451456
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0117467
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01088698
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NONCURRENT PLEDGE RECEIVABLE
IRS990ScheduleD/OtherExpensesIncludedAmt0223989
IRS990ScheduleD/OtherRevenueAmt0223989
IRS990ScheduleD/RevenueNotReportedAmt0229791
IRS990ScheduleD/RevenueSubtotalAmt02080547
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS ADOPTED THE PROVISIONS OF FASB ASC 740-10-25 "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES". UNDER THIS PROVISION, THE ORGANIZATION MUST RECOGNIZE THE TAX BENEFIT ASSOCIATED WITH THE TAX TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED. THE IMPLEMENATION HAD NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. THE ORGANIZATION DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT WILL NOT RECOGNIZE ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX YEARS IN PROGRESS. THE ORGANIZATION FILES ITS FORM 990 SERIES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. THE ORGANIZATION'S RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS AFTER THE RESPECTIVE FILING DEADLINE. AT JUNE 30, 2020, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES REPORTED ON STATEMENT OF REVENUE 147,046 NET SALES TAX REVENUE & EXPENSE 76,943
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES REPORTED ON STATEMENT OF REVENUE 147,046 NET SALES TAX REVENUE & EXPENSE 76,943
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0451456
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01088698
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