Civic Intelligence

Emereau Foundation

990 • Fiscal year 2019 • EIN 47-5131659

Jul 01, 2018 to Jun 30, 2019 • Filed on May 30, 2020

PO Box 547Elizabethtown, NC 28337

(910) 247-6595

Siviq Scores

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

Liabilities / Assets

90th percentile

0.90x

Higher debt load relative to assets than 90% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

64th percentile

0.18x

Higher debt load relative to revenue than 64% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Net Margin

71st percentile

12%

Higher net margin than 71% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

41st percentile

$35,700

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Asset Growth

91st percentile

64%

Faster asset growth than 91% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

91st percentile

64%

Faster revenue growth than 91% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$859,604

Up $336,010 (+64%) from 2018

Net Assets

Up

$85,485

Up $521,821 (+120%) from 2018

Liabilities

Down

$774,119

Down $185,811 (-19%) from 2018

Revenue

Up

$4,282,894

Up $1,677,523 (+64%) from 2018

Expenses

Up

$3,761,073

Up $910,810 (+32%) from 2018

Net Income

Up

$521,821

Up $766,713 (+313%) from 2018

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 2016: $42,500Liabilities 2016: $61,562Net Assets 2016: -$19,0622016Assets 2018: $523,594Liabilities 2018: $959,930Net Assets 2018: -$436,3362018Assets 2019: $859,604Liabilities 2019: $774,119Net Assets 2019: $85,4852019Assets 2020: $1,450,656Liabilities 2020: $482,928Net Assets 2020: $967,7282020Assets 2021: $13,929,896Liabilities 2021: $11,661,988Net Assets 2021: $2,267,9082021Assets 2022: $14,787,499Liabilities 2022: $11,347,616Net Assets 2022: $3,439,8832022Assets 2023: $15,611,550Liabilities 2023: $10,979,071Net Assets 2023: $4,632,4792023Assets 2024: $16,552,917Liabilities 2024: $10,902,933Net Assets 2024: $5,649,9842024Assets 2025: $16,939,441Liabilities 2025: $10,434,268Net Assets 2025: $6,505,1732025

Highlighted filing

2019

Assets$859,604
Liabilities$774,119
Net Assets$85,485

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2016: $0Expenses 2016: $19,062Net Income 2016: -$19,0622016Revenue 2018: $2,605,371Expenses 2018: $2,850,263Net Income 2018: -$244,8922018Revenue 2019: $4,282,894Expenses 2019: $3,761,073Net Income 2019: $521,8212019Revenue 2020: $5,123,903Expenses 2020: $4,241,660Net Income 2020: $882,2432020Revenue 2021: $6,350,578Expenses 2021: $5,050,398Net Income 2021: $1,300,1802021Revenue 2022: $6,956,014Expenses 2022: $5,784,039Net Income 2022: $1,171,9752022Revenue 2023: $7,094,633Expenses 2023: $5,902,034Net Income 2023: $1,192,5992023Revenue 2024: $7,335,553Expenses 2024: $6,318,048Net Income 2024: $1,017,5052024Revenue 2025: $7,835,966Expenses 2025: $6,980,777Net Income 2025: $855,1892025

Highlighted filing

2019

Revenue$4,282,894
Expenses$3,761,073
Net Income$521,821
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 30, 2020
Return Version
2018v3.2
Gross Receipts
$4,309,323
Mission and Program Overview

Mission

Operation of a North Carolina public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$200,609$504,839▲ $304,230
Cash and Non-Interest-Bearing Accounts$309,074$323,273▲ $14,199
Accounts Receivable$13,736$25,330▲ $11,594
Prepaid Expenses and Deferred Charges$175$6,162▲ $5,987
Total Assets$523,594$859,604▲ $336,010
Liabilities
Mortgage Notes Payable Secured by Investment Property$785,141$552,761▼ $232,380
Unsecured Notes Loans Payable$140,000$140,000→ $0
Accounts Payable and Accrued Expenses$34,789$81,358▲ $46,569
Total Liabilities$959,930$774,119▼ $185,811
Net Assets / Fund Balance
Unrestricted Net Assets$-436,336$85,485▲ $521,821
Total Net Assets Fund Balance$-436,336$85,485▲ $521,821
Total Liabilities and Net Assets / Fund Balance$523,594$859,604▲ $336,010

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$504,839$113,249$618,088
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Carla FisherFormer ExecFT$35,700$35,700

Board Members and Trustees

NameTitle
Eddie MaddenBoard Chair
Lisa DevaneVice Chair
Ashley DowlessDirector
Dean HiltonDirector
Sandra LewisDirector
Elizabeth ColeExecutive Di
Rodney WilliamsSecretary
Phillip ByrdTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Acadia Northstar LLCAccounting5029 FALLS OF NEUSE RD, Raleigh, NC 27609$106,270
Revenue and Support

Revenue Composition

Contributions and Grants
$205,773
Program Service Revenue
$4,051,326
Investment Income
$0
Other Revenue
$25,795
All Other Contributions
$2,016
Change in Net Assets
$521,821

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,282,894
Total Revenue per Audited Statements
$4,282,894
Total Revenue per Form 990
$4,282,894
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,370,722
Other Expenses$1,390,351
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,556,575$257,053-$1,813,628
Occupancy$481,080$90,735-$571,815
Fees for Services Other$229,791$81,509-$311,300
Other Employee Benefits$197,782$33,542-$231,324
Payroll Taxes$132,061$22,396-$154,457
Current Officers, Directors, Trustees, and Key Employees$86,160$21,540-$107,700
Depreciation Depletion$57,990$19,330-$77,320
Interest-$75,116-$75,116
Pension Plan Contributions$54,389$9,224-$63,613
Office Expenses$11,800$39,104-$50,904
Other Expenses$40,920--$40,920
Insurance-$31,272-$31,272
All Other Expenses$7,552$13,238-$20,790
Fees for Services Accounting-$15,886-$15,886
Conferences and Meetings$11,858--$11,858
Information Technology$9,774--$9,774
Advertising-$5,684-$5,684
Fees for Services Legal-$740-$740
Travel-$679-$679
Total Functional Expenses$3,044,025$717,048$0$3,761,073

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,761,073
Total Expenses per Audited Statements$3,761,073
Total Expenses per Form 990$3,761,073
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$39,889
Fundraising Direct Expenses$26,429
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising$39,889$39,889$26,429$13,460
Total Events$39,889$39,889$26,429$13,460
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Kate Alice DunawayFormer DirectorAdmin ServicesNo$35,968
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
Yes
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Acadia northstar, llc accounting & management services

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

The executive director and board reviews the 990 prior to filing.

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

All potential conflicts of interest are reviewed and resolved by the board of directors.

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

Compensation for the executive director is approved by the board and is based on comparability data.

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

Salaries for key employees are based on comparability data.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon written request at the organization's main office.

Filing and Contact Details

Filer

Filer Name
Emereau Foundation Inc
EIN
47-5131659
Phone
9102476595
Address
PO BOX 547, ELIZABETHTOWN, NC 28337

Signing Officer

Name
Phillip Byrd
Title
Treasurer
Phone
9102476595
Signed
2020-05-30

Organization Details

Principal Officer
Eddie Madden
Formed
2015
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
60
Volunteers
7

Preparer

Firm
Petway Mills & Pearson Pa
Address
PO BOX 1036, ZEBULON, NC 27597-1036
Preparer
James a Ridoutt
Phone
9192697405
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0175
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06162
IRS990/PrincipalOfficerNm0EDDIE MADDEN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0STATE OF NC
IRS990/ProgramServiceRevenueGrp/Desc1TOTAL COUNTY FUNDS
IRS990/ProgramServiceRevenueGrp/Desc2SCHOOL PROGRAMS & ACTIVITIES
IRS990/ProgramServiceRevenueGrp/Desc3LUNCH REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03281747
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1651196
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt276446
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt341937
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03281747
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1651196
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt276446
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt341937
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt058986
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt01151092
IRS990/PYOtherRevenueAmt018444
IRS990/PYProgramServiceRevenueAmt02527941
IRS990/PYRevenuesLessExpensesAmt0-244892
IRS990/PYSalariesCompEmpBnftPaidAmt01699171
IRS990/PYTotalExpensesAmt02850263
IRS990/PYTotalRevenueAmt02605371
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0521821
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt04051326
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt0504839
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0113249
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0618088
IRS990ScheduleD/ExpensesSubtotalAmt03761073
IRS990ScheduleD/RevenueSubtotalAmt04282894
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0504839
IRS990ScheduleD/TotalExpensesPerForm990Amt03761073
IRS990ScheduleD/TotalRevenuePerForm990Amt04282894
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04282894
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03761073
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0EMEREAU BLADEN CHARTER SCHOOL OPERATES AS A PUBLIC CHARTER SCHOOL AND IS FUNDED BY THE STATE OF NORTH CAROLINA AND LOCAL GOVERNMENT. NORTH CAROLINA REQUIRES A POLICY OF NONDISCRIMINATION. THE SCHOOL'S NONDISCRIMINATION POLICY IS DISCLOSED IN ALL SOLICITATIONS FOR STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt16A) NORTH CAROLINA CHARTER SCHOOL, FUNDED BY STATE & LOCAL GOVERNMENT. ALSO RECEIVES VARIOUS FEDERAL GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt026429
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FUNDRAISING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt039889
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt039889
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt039889
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt039889
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt013460
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt026429
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt026429
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0KATE ALICE DUNAWAY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0FORMER DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt035968
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ADMIN SERVICES
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ACADIA NORTHSTAR, LLC ACCOUNTING & MANAGEMENT SERVICES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR AND BOARD REVIEWS THE 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED AND RESOLVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION FOR THE EXECUTIVE DIRECTOR IS APPROVED BY THE BOARD AND IS BASED ON COMPARABILITY DATA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SALARIES FOR KEY EMPLOYEES ARE BASED ON COMPARABILITY DATA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST AT THE ORGANIZATION'S MAIN OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0523594
IRS990/TotalAssetsEOYAmt0859604
IRS990/TotalAssetsGrp/BOYAmt0523594
IRS990/TotalAssetsGrp/EOYAmt0859604
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0205773
IRS990/TotalEmployeeCnt060
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0717048
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03044025
IRS990/TotalFunctionalExpensesGrp/TotalAmt03761073
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0959930
IRS990/TotalLiabilitiesEOYAmt0774119
IRS990/TotalLiabilitiesGrp/BOYAmt0959930
IRS990/TotalLiabilitiesGrp/EOYAmt0774119
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-436336
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt085485
IRS990/TotalProgramServiceExpensesAmt03044025
IRS990/TotalProgramServiceRevenueAmt04051326
IRS990/TotalReportableCompFromOrgAmt035700
IRS990/TotalRevenueGrp/ExclusionAmt012335
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04051326

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