Civic Intelligence

Emereau Foundation

990 • Fiscal year 2024 • EIN 47-5131659

Jul 01, 2023 to Jun 30, 2024 • Filed on Dec 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

0.66x

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

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

69th percentile

1.49x

Higher debt load relative to revenue than 69% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Net Margin

85th percentile

14%

Higher net margin than 85% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

28th percentile

$0

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Asset Growth

68th percentile

6.0%

Faster asset growth than 68% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

31st percentile

3.4%

Faster revenue growth than 31% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$16,552,917

Up $941,367 (+6.0%) from 2023

Net Assets

Up

$5,649,984

Up $1,017,505 (+22%) from 2023

Liabilities

Down

$10,902,933

Down $76,138 (-0.7%) from 2023

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin85th percentile

Revenue

Up

$7,335,553

Up $240,920 (+3.4%) from 2023

Expenses

Up

$6,318,048

Up $416,014 (+7.0%) from 2023

Net Income

Down

$1,017,505

Down $175,094 (-15%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth68th 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

2024

Assets$16,552,917
Liabilities$10,902,933
Net Assets$5,649,984
Open 2024 Filing

Operations Trend

Revenue Growth31st 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

2024

Revenue$7,335,553
Expenses$6,318,048
Net Income$1,017,505
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Dec 9, 2024
Return Version
2023v5.1
Gross Receipts
$7,335,553
Mission and Program Overview

Mission

Operation of a North Carolina public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,889,510$12,308,135▲ $418,625
Cash and Non-Interest-Bearing Accounts$3,707,229$4,201,520▲ $494,291
Prepaid Expenses and Deferred Charges$4,850$28,075▲ $23,225
Accounts Receivable$9,961$15,187▲ $5,226
Total Assets$15,611,550$16,552,917▲ $941,367
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,903,183$10,619,262▼ $283,921
Accounts Payable and Accrued Expenses$75,888$283,671▲ $207,783
Total Liabilities$10,979,071$10,902,933▼ $76,138
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,632,479$5,649,984▲ $1,017,505
Total Net Assets Fund Balance$4,632,479$5,649,984▲ $1,017,505
Total Liabilities and Net Assets / Fund Balance$15,611,550$16,552,917▲ $941,367

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,773,158$183,273$9,956,431
Land$1,719,525-$1,719,525
Other Land Buildings$523,248$282,089$805,337
Equipment$292,204$238,097$530,301
Compensation and Service Providers
Top Officer Pay28th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$712,512
Program Service Revenue
$6,623,041
Investment Income
$0
Other Revenue
$0
All Other Contributions
$173,027
Change in Net Assets
$1,017,505

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,335,553
Total Revenue per Audited Statements
$7,335,553
Total Revenue per Form 990
$7,335,553
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,253,008
Other Expenses$2,065,040
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,185,186$203,232-$3,388,418
Other Employee Benefits$454,969$28,862-$483,831
Depreciation Depletion$360,164$120,055-$480,219
Payroll Taxes$230,350$16,753-$247,103
Interest-$245,693-$245,693
Other Expenses$448,831$158,206-$158,206
Occupancy$107,434$26,859-$134,293
Pension Plan Contributions$125,949$7,707-$133,656
Insurance-$45,313-$45,313
Fees for Services Accounting-$7,950-$7,950
Fees for Services Legal-$4,410-$4,410
Advertising-$775-$775
Total Functional Expenses$5,190,928$1,127,120$0$6,318,048

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,318,048
Total Expenses per Audited Statements$6,318,048
Total Expenses per Form 990$6,318,048
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
2024-12-09
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
87
Volunteers
7

Preparer

Firm
Rebekah Barr CPA PC
Address
2505-B Nash Street NW, Wilson, NC 27896
Preparer
Rebekah T Barr
Phone
2522946920
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt09773158
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0183273
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt09956431
IRS990ScheduleD/EquipmentGrp/BookValueAmt0292204
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0238097
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0530301
IRS990ScheduleD/ExpensesSubtotalAmt06318048
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt01719525
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01719525
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0523248
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0282089
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0805337
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt07335553
IRS990ScheduleD/TotalBookValueLandBuildingsAmt012308135
IRS990ScheduleD/TotalExpensesPerForm990Amt06318048
IRS990ScheduleD/TotalRevenuePerForm990Amt07335553
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07335553
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06318048
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/TotalAssetsBOYAmt015611550
IRS990/TotalAssetsEOYAmt016552917
IRS990/TotalAssetsGrp/BOYAmt015611550
IRS990/TotalAssetsGrp/EOYAmt016552917
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0712512
IRS990/TotalEmployeeCnt087
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01127120
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05190928
IRS990/TotalFunctionalExpensesGrp/TotalAmt06318048
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010979071
IRS990/TotalLiabilitiesEOYAmt010902933
IRS990/TotalLiabilitiesGrp/BOYAmt010979071
IRS990/TotalLiabilitiesGrp/EOYAmt010902933
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04632479
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05649984
IRS990/TotalProgramServiceExpensesAmt05190928
IRS990/TotalProgramServiceRevenueAmt06623041
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07335553
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt015611550
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt016552917
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/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Phillip Byrd
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum09102476595
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-12-09
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/AddressLine1Txt02505-B Nash Street NW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027896
ReturnHeader/PreparerPersonGrp/PhoneNum02522946920
ReturnHeader/PreparerPersonGrp/PreparationDt02024-12-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah T Barr
ReturnHeader/ReturnTs02024-12-09T09:34:34-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,552,917
Liabilities
$10,902,933
Net assets
$5,649,984
Revenue
$7,335,553
Expenses
$6,318,048
Net income
$1,017,505
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