Civic Intelligence

Emereau Foundation

990 • Fiscal year 2020 • EIN 47-5131659

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

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

48th percentile

0.33x

Higher debt load relative to assets than 48% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

28th percentile

0.09x

Higher debt load relative to revenue than 28% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Net Margin

81st percentile

17%

Higher net margin than 81% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

27th percentile

$43,642

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2020 filings • NTEE B • $5M-$10M nonprofits • Source year 2020

Asset Growth

86th percentile

69%

Faster asset growth than 86% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

81st percentile

20%

Faster revenue growth than 81% of similar nonprofits.

2020 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$1,450,656

Up $591,052 (+69%) from 2019

Net Assets

Up

$967,728

Up $882,243 (+1032%) from 2019

Liabilities

Down

$482,928

Down $291,191 (-38%) from 2019

Revenue

Up

$5,123,903

Up $841,009 (+20%) from 2019

Expenses

Up

$4,241,660

Up $480,587 (+13%) from 2019

Net Income

Up

$882,243

Up $360,422 (+69%) from 2019

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

2020

Assets$1,450,656
Liabilities$482,928
Net Assets$967,728

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

2020

Revenue$5,123,903
Expenses$4,241,660
Net Income$882,243
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 30, 2021
Return Version
2019v5.0
Gross Receipts
$5,148,127
Mission and Program Overview

Mission

Operation of a North Carolina public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$323,273$966,828▲ $643,555
Land, Buildings, and Equipment, Net$504,839$457,034▼ $47,805
Accounts Receivable$25,330$23,147▼ $2,183
Prepaid Expenses and Deferred Charges$6,162$3,647▼ $2,515
Total Assets$859,604$1,450,656▲ $591,052
Liabilities
Mortgage Notes Payable Secured by Investment Property$552,761$319,705▼ $233,056
Accounts Payable and Accrued Expenses$81,358$112,556▲ $31,198
Unsecured Notes Loans Payable$140,000$50,667▼ $89,333
Total Liabilities$774,119$482,928▼ $291,191
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$85,485$967,728▲ $882,243
Total Net Assets Fund Balance$85,485$967,728▲ $882,243
Total Liabilities and Net Assets / Fund Balance$859,604$1,450,656▲ $591,052

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$457,034$199,417$656,451
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Elizabeth ColeExecutive DiFT$43,642$43,642

Board Members and Trustees

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

Highest Paid Contractors

ContractorServicesLocationCompensation
Acadia Northstar LLCAccounting5029 FALLS OF NEUSE RD, Raleigh, NC 27609$116,273
Revenue and Support

Revenue Composition

Contributions and Grants
$220,674
Program Service Revenue
$4,882,866
Investment Income
$2,756
Other Revenue
$17,607
All Other Contributions
$500
Change in Net Assets
$882,243

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,123,903
Total Revenue per Audited Statements
$5,123,903
Total Revenue per Form 990
$5,123,903
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,685,993
Other Expenses$1,555,667
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,824,024$251,732-$2,075,756
Occupancy$565,411$133,325-$698,736
Fees for Services Other$160,488$148,329-$308,817
Other Employee Benefits$230,489$40,674-$271,163
Payroll Taxes$153,323$27,057-$180,380
Information Technology$118,984$9,506-$128,490
Current Officers, Directors, Trustees, and Key Employees-$87,972-$87,972
Depreciation Depletion$64,626$21,542-$86,168
Pension Plan Contributions$60,114$10,608-$70,722
Office Expenses$42,844$24,628-$67,472
Interest-$54,519-$54,519
Insurance-$35,017-$35,017
Conferences and Meetings$10,966$973-$11,939
All Other Expenses$8,881$2,993-$11,874
Other Expenses$36,887$10,630-$10,630
Fees for Services Accounting-$8,570-$8,570
Fees for Services Legal-$5,730-$5,730
Advertising-$907-$907
Travel-$259-$259
Total Functional Expenses$3,319,756$921,904$0$4,241,660

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,241,660
Total Expenses per Audited Statements$4,241,660
Total Expenses per Form 990$4,241,660
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$36,313
Fundraising Direct Expenses$24,224
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising$36,313$36,313$24,224$12,089
Total Events$36,313$36,313$24,224$12,089
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
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
2021-01-30

Organization Details

Principal Officer
Eddie Madden
Formed
2015
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
80
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/ProgramServiceRevenueGrp/Desc4FIELD TRIPS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03991687
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1781254
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt245373
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt343988
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt420564
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03991687
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1781254
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt245373
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt343988
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt420564
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0205773
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt01390351
IRS990/PYOtherRevenueAmt025795
IRS990/PYProgramServiceRevenueAmt04051326
IRS990/PYRevenuesLessExpensesAmt0521821
IRS990/PYSalariesCompEmpBnftPaidAmt02370722
IRS990/PYTotalExpensesAmt03761073
IRS990/PYTotalRevenueAmt04282894
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0882243
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt04882866
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/BookValueAmt0457034
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0199417
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0656451
IRS990ScheduleD/ExpensesSubtotalAmt04241660
IRS990ScheduleD/RevenueSubtotalAmt05123903
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0457034
IRS990ScheduleD/TotalExpensesPerForm990Amt04241660
IRS990ScheduleD/TotalRevenuePerForm990Amt05123903
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05123903
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04241660
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/DirectExpenseSummaryEventsAmt024224
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FUNDRAISING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt036313
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt036313
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt036313
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt036313
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt012089
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt024224
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt024224
IRS990/ScheduleJRequiredInd0false
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/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0859604
IRS990/TotalAssetsEOYAmt01450656
IRS990/TotalAssetsGrp/BOYAmt0859604
IRS990/TotalAssetsGrp/EOYAmt01450656
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0220674
IRS990/TotalEmployeeCnt080
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0921904
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03319756
IRS990/TotalFunctionalExpensesGrp/TotalAmt04241660
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0774119
IRS990/TotalLiabilitiesEOYAmt0482928
IRS990/TotalLiabilitiesGrp/BOYAmt0774119
IRS990/TotalLiabilitiesGrp/EOYAmt0482928
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt085485
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0967728
IRS990/TotalProgramServiceExpensesAmt03319756
IRS990/TotalProgramServiceRevenueAmt04882866
IRS990/TotalReportableCompFromOrgAmt043642
IRS990/TotalRevenueGrp/ExclusionAmt08274
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04882866
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05123903
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0859604
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01450656
IRS990/TravelGrp/ManagementAndGeneralAmt0259
IRS990/TravelGrp/TotalAmt0259
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0140000

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