Civic Intelligence

Beacon Education Inc.

990 • Fiscal year 2020 • EIN 47-3629354

Jul 01, 2019 to Jun 30, 2020 • Filed on May 11, 2021

Organization ProfileWWW.GLOWACADEMY.NET
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

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.11x

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

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Net Margin

90th percentile

36%

Higher net margin than 90% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

55th percentile

$176,640

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 8.2% of source-year revenue.

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Asset Growth

97th percentile

147%

Faster asset growth than 97% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

87th percentile

39%

Faster revenue growth than 87% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets18th percentile

Assets

Flat

$14,011,727

Flat from 2020

Net Assets

Flat

$13,768,764

Flat from 2020

Liabilities

Flat

$242,963

Flat from 2020

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin90th percentile

Revenue

Up

$2,157,490

Up $76,943 (+3.7%) from 2020

Expenses

Up

$1,378,649

Up $76,943 (+5.9%) from 2020

Net Income

Flat

$778,841

Flat from 2020

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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 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
Open 2020 Filing

Operations Trend

Revenue Growth87th percentile

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: $2,157,490Expenses 2020: $1,378,649Net Income 2020: $778,8412020Revenue 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$2,157,490
Expenses$1,378,649
Net Income$778,841
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 11, 2021
Return Version
2019v5.0
Gross Receipts
$2,304,536
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
Top Officer Pay55th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Todd GodbeyCEOFT$78,594$98,046$78,594

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
$651,196
All Other Contributions
$1,283,168
Change in Net Assets
$778,841

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,157,490
Revenue Not Reported on Form 990
$152,848
Total Revenue per Audited Statements
$2,310,338
Total Revenue per Form 990
$2,157,490
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,176,867
Grants and Similar Amounts Paid$106,561
Salaries, Compensation, and Employee Benefits$95,221
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$106,561--$106,561
Depreciation Depletion-$104,535-$104,535
Current Officers, Directors, Trustees, and Key Employees-$86,992-$86,992
Occupancy-$15,751-$15,751
Interest-$9,823-$9,823
Fees for Services Other-$9,037-$9,037
Other Expenses$9,094$8,927-$8,927
Office Expenses-$8,758-$8,758
Payroll Taxes-$8,229-$8,229
Travel-$7,617-$7,617
Advertising-$7,136-$7,136
All Other Expenses-$6,182-$6,182
Insurance-$4,866-$4,866
Fees for Services Accounting-$2,500-$2,500
Information Technology-$1,395-$1,395
Conferences and Meetings-$336-$336
Total Functional Expenses$115,655$1,262,994$0$1,378,649

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,525,695
Expenses per Audited Statements$1,378,649
Total Expenses per Form 990$1,378,649
Expenses Not Reported on Form 990$147,046
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
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

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

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

“Any board member wiht a conflict of interest, or perceived conflict of interest, do not take part on any discussion or vote on the issue.”

Form 990, Page 6, Part VI, Line 15A

“Top management offical's compensation is approved by the board, and is based on comparibility data.”

Form 990, Page 6, Part VI, Line 15B

“The organization has no other employees.”

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
2021-05-11

Organization Details

Principal Officer
Sandy Spiers
Formed
2015
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 - 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”

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

“Fundraising expenses reported on statement of revenue 147,046”

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IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
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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/OtherExpensesGrp/TotalAmt29094
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IRS990/RegularMonitoringEnfrcInd0true
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01506345
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IRS990ScheduleA/PublicSupportPY170Pct00.57560
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IRS990ScheduleA/TotalSupportAmt012601646
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0451456
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IRS990ScheduleD/OtherRevenueAmt0147046
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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
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES REPORTED ON STATEMENT OF REVENUE 147,046
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
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$14,011,727
Liabilities
$242,963
Net assets
$13,768,764
Revenue
$2,157,490
Expenses
$1,378,649
Net income
$778,841
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.5$0.08$30.4$6.35$1.85$4.49
2023Summary only. Only limited summary data is available for this year.$25.4$0.04$25.4$7.10$1.12$5.98
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.3$0.03$19.3$6.68$3.05$3.63
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.9$0.06$15.8$3.07$1.01$2.06
2020Detailed filing. Detailed filing data is available for this year.$14.0$0.24$13.8$2.16$1.38$0.78
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.0$0.24$13.8$2.08$1.30$0.78
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$0.30$5.36$1.56$10.0$8.46
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$0.01$13.8$8.24$0.43$7.81
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.00$0.00$5.99$5.92$0.31$5.62
2016Summary only. Only limited summary data is available for this year.$0.42$0.02$0.40$0.43$0.03$0.40