Civic Intelligence

Hampton Roads Academy

990 • Fiscal year 2017 • EIN 54-0659912

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 18, 2018

739 Academy LaneNewport News, VA 23602

(757) 884-9100

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.51x

Higher debt load relative to assets than 73% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

77th percentile

0.85x

Higher debt load relative to revenue than 77% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

57th percentile

5.0%

Higher net margin than 57% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

79th percentile

$298,372

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

35th percentile

0.7%

Faster asset growth than 35% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

65th percentile

11%

Faster revenue growth than 65% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$22,562,456

Up $160,574 (+0.7%) from 2016

Net Assets

Up

$11,127,564

Up $874,475 (+8.5%) from 2016

Liabilities

Down

$11,434,892

Down $713,901 (-5.9%) from 2016

Revenue

Up

$13,403,220

Up $1,317,325 (+11%) from 2016

Expenses

Up

$12,738,454

Up $794,560 (+6.7%) from 2016

Net Income

Up

$664,766

Up $522,765 (+368%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2011: $15,940,805Liabilities 2011: $9,051,851Net Assets 2011: $6,888,9542011Assets 2012: $17,230,140Liabilities 2012: $8,644,735Net Assets 2012: $8,585,4052012Assets 2013: $20,800,817Liabilities 2013: $10,955,669Net Assets 2013: $9,845,1482013Assets 2014: $23,399,327Liabilities 2014: $12,789,921Net Assets 2014: $10,609,4062014Assets 2015: $22,806,704Liabilities 2015: $12,436,720Net Assets 2015: $10,369,9842015Assets 2016: $22,401,882Liabilities 2016: $12,148,793Net Assets 2016: $10,253,0892016Assets 2017: $22,562,456Liabilities 2017: $11,434,892Net Assets 2017: $11,127,5642017Assets 2018: $19,001,719Liabilities 2018: $5,893,291Net Assets 2018: $13,108,4282018Assets 2019: $22,809,395Liabilities 2019: $6,496,722Net Assets 2019: $16,312,6732019Assets 2020: $26,062,252Liabilities 2020: $9,815,973Net Assets 2020: $16,246,2792020Assets 2021: $24,546,952Liabilities 2021: $5,823,613Net Assets 2021: $18,723,3392021Assets 2022: $22,556,646Liabilities 2022: $4,236,919Net Assets 2022: $18,319,7272022Assets 2023: $24,369,472Liabilities 2023: $3,523,850Net Assets 2023: $20,845,6222023Assets 2024: $23,510,689Liabilities 2024: $3,329,196Net Assets 2024: $20,181,4932024

Highlighted filing

2017

Assets$22,562,456
Liabilities$11,434,892
Net Assets$11,127,564

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $9,032,6532011Expenses 2012: $9,186,1792012Expenses 2013: $9,440,6442013Revenue 2014: $11,025,945Expenses 2014: $10,487,334Net Income 2014: $538,6112014Revenue 2015: $10,951,898Expenses 2015: $11,019,160Net Income 2015: -$67,2622015Revenue 2016: $12,085,895Expenses 2016: $11,943,894Net Income 2016: $142,0012016Revenue 2017: $13,403,220Expenses 2017: $12,738,454Net Income 2017: $664,7662017Revenue 2018: $15,336,481Expenses 2018: $13,291,213Net Income 2018: $2,045,2682018Revenue 2019: $16,081,659Expenses 2019: $12,838,231Net Income 2019: $3,243,4282019Revenue 2020: $12,637,301Expenses 2020: $12,620,452Net Income 2020: $16,8492020Revenue 2021: $14,722,729Expenses 2021: $12,798,689Net Income 2021: $1,924,0402021Revenue 2022: $13,982,146Expenses 2022: $13,598,962Net Income 2022: $383,1842022Revenue 2023: $16,627,707Expenses 2023: $14,287,236Net Income 2023: $2,340,4712023Revenue 2024: $13,866,637Expenses 2024: $14,805,236Net Income 2024: -$938,5992024

Highlighted filing

2017

Revenue$13,403,220
Expenses$12,738,454
Net Income$664,766
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 18, 2018
Return Version
2016v3.1
Gross Receipts
$14,448,439
Mission and Program Overview

Mission

Hampton roads academy, an inclusive community of service and compassion, prepares students to excel intellectually, artistically, physically, and morally in higher education and in life.

Hampton roads academy is a co-ed, private, independent, day school for grades pre-k through 12

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$12,189,123$11,693,210▼ $495,913
Accounts Receivable$4,443,819$4,784,453▲ $340,634
Investments in Publicly Traded Securities$2,078,911$2,333,069▲ $254,158
Pledges and Grants Receivable$871,390$1,497,821▲ $626,431
Cash and Non-Interest-Bearing Accounts$2,417,290$1,460,465▼ $956,825
Prepaid Expenses and Deferred Charges$229,979$186,203▼ $43,776
Inventories for Sale or Use$13,081$11,569▼ $1,512
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$22,401,882$22,562,456▲ $160,574
Other Assets Total$158,289$595,666▲ $437,377
Liabilities
Deferred Revenue$7,004,700$7,107,407▲ $102,707
Mortgage Notes Payable Secured by Investment Property$4,480,326$3,432,187▼ $1,048,139
Accounts Payable and Accrued Expenses$560,538$781,031▲ $220,493
Other Liabilities$103,229$114,267▲ $11,038
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$12,148,793$11,434,892▼ $713,901
Net Assets / Fund Balance
Unrestricted Net Assets$7,158,639$7,192,924▲ $34,285
Temporarily Rstr Net Assets$2,270,934$3,111,124▲ $840,190
Permanently Rstr Net Assets$823,516$823,516→ $0
Total Net Assets Fund Balance$10,253,089$11,127,564▲ $874,475
Total Liabilities and Net Assets / Fund Balance$22,401,882$22,562,456▲ $160,574

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,242,149$7,982,645$19,224,794
Equipment$380,324$2,958,630$3,338,954
Leasehold Improvements$14$624,427$624,441
Land$70,723-$70,723
Other Land Buildings$0-$0

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$2,137,970-▲ $238,268$53,000$2,323,238
2015$2,209,018$1,764▼ $72,812-$2,137,970
2014$2,185,256$1,288▲ $22,474-$2,209,018
2013$1,871,874$374▲ $312,908-$2,185,156
2012$1,488,195$103,271▲ $280,508-$1,871,974
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter MertzHeadmasterFT$247,925$50,447$298,372
Ronald DeChiricoDirector of Finance&OperationsFT$113,504$18,183$131,687
Ben RousCollege CounselingFT$92,330$17,516$109,846
Karen GillespieHead of Upper SchoolFT$87,914$12,391$100,305
Rebecca BreseeAdmissions DirectorFT$83,985$16,033$100,018

Board Members and Trustees

NameTitle
Wendy DruckerChair
Alison V LennarzVice Chair
Braden L MillerBoard member
Bruce GeareyBoard member
Carlyle CampbellBoard member
David AbbottBoard member
Elizabeth FoxxBoard member
Jeff JohnsonBoard member
Jennifer KitchenBoard member
Jenny O DavidBoard member
Keith Vander VannetBoard member
Michael HelpinstillBoard member
Naved JafriBoard member
Steven ScottBoard member
Thomas MeehanBoard member
Tracy ShackelfordBoard member
Vernon GeddyBoard member
Wendy MontgomeryBoard member
Whiting ChismanBoard member
William H FergusonBoard member
Thomas E FassSecretary
Bradford N PattenTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
CA Barrs Contractors IncConstruction7601 George Washington Memorial Hwy, Yorktown, VA 23692$206,653
Belmont at City CenterStudent Housing Rent900 Lakefront Commons, Newport News, VA 23606$186,276
Revenue and Support

Revenue Composition

Contributions and Grants
$1,696,795
Program Service Revenue
$11,658,078
Investment Income
$59,559
Other Revenue
$-11,212
All Other Contributions
$1,673,965
Change in Net Assets
$664,766

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,403,220
Revenue Not Reported on Form 990
$337,414
Total Revenue per Audited Statements
$13,740,634
Total Revenue per Form 990
$13,403,220
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,920,208
Other Expenses$3,503,777
Grants and Similar Amounts Paid$1,314,469
Total Fundraising Expense$39,419
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,527,865$1,581,473-$6,109,338
Grants to Domestic Individuals$1,314,469--$1,314,469
Other Employee Benefits$562,331$187,444-$749,775
Depreciation Depletion$650,631--$650,631
Occupancy$599,991--$599,991
Office Expenses$340,590$207,314$20,957$568,861
Payroll Taxes$320,937$137,544-$458,481
Current Officers, Directors, Trustees, and Key Employees-$365,095-$365,095
All Other Expenses$91,041$193,095$2,575$286,711
Pension Plan Contributions$178,139$59,380-$237,519
Information Technology$186,502--$186,502
Insurance-$107,346-$107,346
Conferences and Meetings$72,954$5,339$2,218$80,511
Other Expenses$42,058$32,289-$74,347
Travel$33,948$35,642-$69,590
Advertising-$64,414-$64,414
Fees for Services Accounting-$32,750-$32,750
Fees for Services Other$3,883-$13,669$17,552
Fees for Services Legal-$4,805-$4,805
Total Functional Expenses$9,677,981$3,021,054$39,419$12,738,454

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$12,866,159
Expenses per Audited Statements$12,738,454
Total Expenses per Form 990$12,738,454
Expenses Not Reported on Form 990$127,705
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$11,422
Fundraising Direct Expenses$10,484
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$34,252$11,422$645$10,777
Total Events$34,252$11,422$10,484$938
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits Held for Agency Funds$114,267
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
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The Board reviews and approves Form 990 prepared by a qualified, independent accounting firm.

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

In the event the school is in need of goods and services that may be provided by an organization or company which a trustee is part of, it is always discussed at the board level and additional bids are obtained. All board members are made known of the potential conflict of interest and allowed to speak on it.

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

The headmaster is the only person that is reviewed annually by the executive committee of the board of trustees. He is evaluated using the National Assoiation of Independent Schools (NAIS) guidelines and his contract is issued using NAIS comparative data and guidelines.

Form 990, Part VI, Section C, Line 19

Non-public, only available to employees and trustees upon request.

Filing and Contact Details

Filer

Filer Name
Hampton Roads Academy
EIN
54-0659912
In Care Of
% KATIE GUNDERSON
Phone
7578849100
Address
739 Academy Lane, Newport News, VA 23602

Signing Officer

Name
Peter Mertz
Title
Headmaster
Phone
7578849152
Signed
2018-01-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Mertz
Formed
1959
Legal Domicile
Va
Voting Board Members
22
Independent Board Members
22
Employees
219
Volunteers
200

Preparer

Firm
Bdo USA Llp
Address
150 Boush Street Suite 1100, Norfolk, VA 23510
Preparer
James E Prince III
Phone
7576407190
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D - Other Adjustments

Cost of Goods Sold 117,221; Fundraiser Expenses 10,484

Part XII, Line 2D Other Adjustments

Cost of Goods Sold 117,221; Fundraiser Expenses 10,484

Tax Disclosure

The Academy and the Foundation are nonprofit organizations described in 501(c)(3) of the Internal Revenue Code and are exempt from federal and state income taxes. Exempt organizations are subject to tax on income from regularly conducted trade or business activities that are not substantially related to the organizations exempt purpose. Returns are generally subject to examinations for three years from the date filed. This period of limitations has expired for returns filed for tax years 2013 and earlier. Management continually evaluates the tax positions reflected in the Academys tax filings and does not believe any material uncertain tax positions exist.

Part V, Line 4

Scholarships, operating revenue and growth for school future.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm3William H Ferguson
IRS990/Form990PartVIISectionAGrp/PersonNm4Elizabeth Foxx
IRS990/Form990PartVIISectionAGrp/PersonNm5Jennifer Kitchen
IRS990/Form990PartVIISectionAGrp/PersonNm6Braden L Miller
IRS990/Form990PartVIISectionAGrp/PersonNm7Bradford N Patten
IRS990/Form990PartVIISectionAGrp/PersonNm8Alison V Lennarz
IRS990/Form990PartVIISectionAGrp/PersonNm9Thomas Meehan
IRS990/Form990PartVIISectionAGrp/PersonNm10Keith Vander Vannet
IRS990/Form990PartVIISectionAGrp/PersonNm11Bruce Gearey
IRS990/Form990PartVIISectionAGrp/PersonNm12Jeff Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm13Steven Scott
IRS990/Form990PartVIISectionAGrp/PersonNm14Thomas E Fass
IRS990/Form990PartVIISectionAGrp/PersonNm15David Abbott
IRS990/Form990PartVIISectionAGrp/PersonNm16Jenny O David
IRS990/Form990PartVIISectionAGrp/PersonNm17Vernon Geddy
IRS990/Form990PartVIISectionAGrp/PersonNm18Michael Helpinstill
IRS990/Form990PartVIISectionAGrp/PersonNm19Naved Jafri
IRS990/Form990PartVIISectionAGrp/PersonNm20Wendy Montgomery
IRS990/Form990PartVIISectionAGrp/PersonNm21Tracy Shackelford
IRS990/Form990PartVIISectionAGrp/PersonNm22Peter Mertz
IRS990/Form990PartVIISectionAGrp/PersonNm23Ronald DeChirico
IRS990/Form990PartVIISectionAGrp/PersonNm24Ben Rous
IRS990/Form990PartVIISectionAGrp/PersonNm25Karen Gillespie
IRS990/Form990PartVIISectionAGrp/PersonNm26Rebecca Bresee
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IRS990/Form990PartVIISectionAGrp/TitleTxt7Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt8Vice Chair
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Board member
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IRS990/Form990PartVIISectionAGrp/TitleTxt23Director of Finance&Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt24College Counseling
IRS990/Form990PartVIISectionAGrp/TitleTxt25Head of Upper School
IRS990/Form990PartVIISectionAGrp/TitleTxt26Admissions Director
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$23.5$3.33$20.2$13.9$14.8$0.94
2023Detailed filing. Detailed filing data is available for this year.$24.4$3.52$20.8$16.6$14.3$2.34
2022Detailed filing. Detailed filing data is available for this year.$22.6$4.24$18.3$14.0$13.6$0.38
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.5$5.82$18.7$14.7$12.8$1.92
2020Detailed filing. Detailed filing data is available for this year.$26.1$9.82$16.2$12.6$12.6$0.02
2019Detailed filing. Detailed filing data is available for this year.$22.8$6.50$16.3$16.1$12.8$3.24
2018Detailed filing. Detailed filing data is available for this year.$19.0$5.89$13.1$15.3$13.3$2.05
2017Detailed filing. Detailed filing data is available for this year.$22.6$11.4$11.1$13.4$12.7$0.66
2016Detailed filing. Detailed filing data is available for this year.$22.4$12.1$10.3$12.1$11.9$0.14
2015Detailed filing. Detailed filing data is available for this year.$22.8$12.4$10.4$11.0$11.0$0.07
2014Detailed filing. Detailed filing data is available for this year.$23.4$12.8$10.6$11.0$10.5$0.54
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.8$11.0$9.85$9.44
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.2$8.64$8.59$9.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.9$9.05$6.89$9.03