Civic Intelligence

Emereau Foundation

990 • Fiscal year 2023 • EIN 47-5131659

Jul 01, 2022 to Jun 30, 2023 • Filed on May 09, 2024

Organization Profileemereau.org

View Organization Page

995 Airport DriveElizabethtown, NC 28337

(910) 247-6595

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.70x

Higher debt load relative to assets than 52% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

1.55x

Higher debt load relative to revenue than 67% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Net Margin

91st percentile

17%

Higher net margin than 91% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

25th percentile

$72,700

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Asset Growth

40th percentile

5.6%

Faster asset growth than 40% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

33rd percentile

2.0%

Faster revenue growth than 33% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$15,611,550

Up $824,051 (+5.6%) from 2022

Net Assets

Up

$4,632,479

Up $1,192,596 (+35%) from 2022

Liabilities

Down

$10,979,071

Down $368,545 (-3.2%) from 2022

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin91st percentile

Revenue

Up

$7,094,633

Up $138,619 (+2.0%) from 2022

Expenses

Up

$5,902,034

Up $117,995 (+2.0%) from 2022

Net Income

Up

$1,192,599

Up $20,624 (+1.8%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

2023

Assets$15,611,550
Liabilities$10,979,071
Net Assets$4,632,479
Open 2023 Filing

Operations Trend

Revenue Growth33rd percentile

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

2023

Revenue$7,094,633
Expenses$5,902,034
Net Income$1,192,599
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 9, 2024
Return Version
2022v5.0
Gross Receipts
$7,094,633
Mission and Program Overview

Mission

Operation of a North Carolina public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,913,050$11,889,510▼ $23,540
Cash and Non-Interest-Bearing Accounts$2,818,295$3,707,229▲ $888,934
Accounts Receivable$55,839$9,961▼ $45,878
Prepaid Expenses and Deferred Charges$315$4,850▲ $4,535
Total Assets$14,787,499$15,611,550▲ $824,051
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,273,594$10,903,183▼ $370,411
Accounts Payable and Accrued Expenses$74,022$75,888▲ $1,866
Total Liabilities$11,347,616$10,979,071▼ $368,545
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,439,883$4,632,479▲ $1,192,596
Total Net Assets Fund Balance$3,439,883$4,632,479▲ $1,192,596
Total Liabilities and Net Assets / Fund Balance$14,787,499$15,611,550▲ $824,051

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,271,815$684,616$9,956,431
Land$1,719,525-$1,719,525
Other Land Buildings$603,782$201,555$805,337
Equipment$294,388$235,913$530,301
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Polly HancockExecutive DirectorFT$72,700$72,700

Board Members and Trustees

NameTitle
Dan AllenBoard Chair
Sandra LewisBoard Vice-Chair
Ashley DowlessBoard Director
Dennis TroyBoard Director
Jennifer WhittingtonBoard Director
Maurice WilliamsBoard Secretary
Phil ByrdBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$618,789
Program Service Revenue
$6,475,844
Investment Income
$0
Other Revenue
$0
All Other Contributions
$9,962
Change in Net Assets
$1,192,599

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,094,633
Total Revenue per Audited Statements
$7,094,633
Total Revenue per Form 990
$7,094,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,049,418
Other Expenses$1,852,616
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,030,581$186,190-$3,216,771
Depreciation Depletion$325,064$108,355-$433,419
Other Employee Benefits$388,793$31,103-$419,896
Payroll Taxes$262,945$21,261-$284,206
Interest-$249,620-$249,620
Other Expenses$417,821$194,710-$194,710
Pension Plan Contributions$120,024$8,521-$128,545
Occupancy$40,770$10,192-$50,962
Insurance-$37,901-$37,901
Fees for Services Accounting-$8,900-$8,900
Fees for Services Legal-$5,124-$5,124
Advertising-$4,197-$4,197
Total Functional Expenses$4,802,336$1,099,698$0$5,902,034

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,902,034
Total Expenses per Audited Statements$5,902,034
Total Expenses per Form 990$5,902,034
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
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, Part VI, Section A, Line 3

“Prestige School Solutions - Accounting and business management”

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

“The executive director reviews the 990 and presents to the board of directors for approval.”

Form 990, Part VI, Section B, Line 12C

“At monthly board meetings the board discusses any potential conflicts of interest. If any member has a potential conflict that person does not participate in the decision-making process or vote on the matter.”

Form 990, Part VI, Section B, Line 15A

“Executive directors compensation is approved by the board and is based on comparability data and performance.”

Form 990, Part VI, Section B, Line 15B

“Officers do not receive compensation. Key employees salaries are based on the state salary scale.”

Form 990, Part VI, Section C, Line 19

“Governing documents, school policies, and financial statements are available for viewing by the public at the organizations office upon request.”

Filing and Contact Details

Filer

Filer Name
Emereau Foundation
EIN
47-5131659
Phone
9102476595
Address
995 Airport Drive, Elizabethtown, NC 28337

Signing Officer

Name
Phillip Byrd
Title
Treasurer
Phone
9102476595
Signed
2024-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phillip Byrd
Formed
2015
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
90
Volunteers
7

Preparer

Firm
Rebekah Barr CPA PC
Address
1520 Nash Street N, Wilson, NC 27893
Preparer
Rebekah T Barr
Phone
2522946920
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt09271815
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0684616
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09956431
IRS990ScheduleD/EquipmentGrp/BookValueAmt0294388
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0235913
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0530301
IRS990ScheduleD/ExpensesSubtotalAmt05902034
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt01719525
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01719525
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0603782
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0201555
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0805337
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt07094633
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011889510
IRS990ScheduleD/TotalExpensesPerForm990Amt05902034
IRS990ScheduleD/TotalRevenuePerForm990Amt07094633
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07094633
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05902034
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/ExplanationTxt0North Carolina charter schools are funded by the State and Local Governments. The School also receives various federal grants.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Prestige School Solutions - Accounting and business management
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The executive director reviews the 990 and presents to the board of directors for approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2At monthly board meetings the board discusses any potential conflicts of interest. If any member has a potential conflict that person does not participate in the decision-making process or vote on the matter.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Executive directors compensation is approved by the board and is based on comparability data and performance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Officers do not receive compensation. Key employees salaries are based on the state salary scale.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents, school policies, and financial statements are available for viewing by the public at the organizations office upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt014787499
IRS990/TotalAssetsEOYAmt015611550
IRS990/TotalAssetsGrp/BOYAmt014787499
IRS990/TotalAssetsGrp/EOYAmt015611550
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0618789
IRS990/TotalEmployeeCnt090
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01099698
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04802336
IRS990/TotalFunctionalExpensesGrp/TotalAmt05902034
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt011347616
IRS990/TotalLiabilitiesEOYAmt010979071
IRS990/TotalLiabilitiesGrp/BOYAmt011347616
IRS990/TotalLiabilitiesGrp/EOYAmt010979071
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03439883
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04632479
IRS990/TotalProgramServiceExpensesAmt04802336
IRS990/TotalProgramServiceRevenueAmt06475844
IRS990/TotalReportableCompFromOrgAmt072700
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07094633
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014787499
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt015611550
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0995 Airport Drive
IRS990/USAddress/CityNm0Elizabethtown
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028337
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0emereau.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Phillip Byrd
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum09102476595
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Emereau Foundation
ReturnHeader/Filer/BusinessNameControlTxt0EMER
ReturnHeader/Filer/EIN0475131659
ReturnHeader/Filer/PhoneNum09102476595
ReturnHeader/Filer/USAddress/AddressLine1Txt0995 Airport Drive
ReturnHeader/Filer/USAddress/CityNm0Elizabethtown
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028337
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271832948
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rebekah Barr CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01520 Nash Street N
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027893
ReturnHeader/PreparerPersonGrp/PhoneNum02522946920
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah T Barr
ReturnHeader/ReturnTs02024-05-09T11:42:22-00:00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,611,550
Liabilities
$10,979,071
Net assets
$4,632,479
Revenue
$7,094,633
Expenses
$5,902,034
Net income
$1,192,599
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$16.9$10.4$6.51$7.84$6.98$0.86
2024Detailed filing. Detailed filing data is available for this year.$16.6$10.9$5.65$7.34$6.32$1.02
2023Detailed filing. Detailed filing data is available for this year.$15.6$11.0$4.63$7.09$5.90$1.19
2022Detailed filing. Detailed filing data is available for this year.$14.8$11.3$3.44$6.96$5.78$1.17
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.9$11.7$2.27$6.35$5.05$1.30
2020Detailed filing. Detailed filing data is available for this year.$1.45$0.48$0.97$5.12$4.24$0.88
2019Detailed filing. Detailed filing data is available for this year.$0.86$0.77$0.09$4.28$3.76$0.52
2018Detailed filing. Detailed filing data is available for this year.$0.52$0.96$0.44$2.61$2.85$0.24
2016Summary only. Only limited summary data is available for this year.$0.04$0.06$0.02$0.00$0.02$0.02