Civic Intelligence

Broadwater Academy

990 • Fiscal year 2015 • EIN 54-0799130

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 02, 2016

Organization ProfileBROADWATERACADEMY.ORG

View Organization Page

PO Box 546Exmore, VA 23350

(757) 442-9041

Siviq Scores

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

Liabilities / Assets

76th percentile

0.45x

Higher debt load relative to assets than 76% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

75th percentile

0.46x

Higher debt load relative to revenue than 75% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

18th percentile

-13%

Higher net margin than 18% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

18th percentile

-6.5%

Faster asset growth than 18% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

36th percentile

-1.7%

Faster revenue growth than 36% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$3,669,333

Down $254,212 (-6.5%) from 2014

Net Assets

Down

$2,034,485

Down $551,656 (-21%) from 2014

Liabilities

Up

$1,634,848

Up $297,444 (+22%) from 2014

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin18th percentile

Revenue

Down

$3,580,170

Down $60,239 (-1.7%) from 2014

Expenses

Up

$4,038,545

Up $120,021 (+3.1%) from 2014

Net Income

Down

-$458,375

Down $180,260 (-65%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $5,067,958Liabilities 2011: $587,346Net Assets 2011: $4,480,6122011Assets 2012: $3,950,952Liabilities 2012: $1,137,652Net Assets 2012: $2,813,3002012Assets 2013: $3,903,030Liabilities 2013: $1,118,899Net Assets 2013: $2,784,1312013Assets 2014: $3,923,545Liabilities 2014: $1,337,404Net Assets 2014: $2,586,1412014Assets 2015: $3,669,333Liabilities 2015: $1,634,848Net Assets 2015: $2,034,4852015Assets 2016: $4,317,406Liabilities 2016: $2,647,010Net Assets 2016: $1,670,3962016Assets 2017: $4,874,471Liabilities 2017: $3,924,494Net Assets 2017: $949,9772017Assets 2018: $5,490,774Liabilities 2018: $4,454,125Net Assets 2018: $1,036,6492018Assets 2019: $5,065,272Liabilities 2019: $4,169,682Net Assets 2019: $895,5902019Assets 2020: $5,211,524Liabilities 2020: $4,741,484Net Assets 2020: $470,0402020Assets 2021: $5,201,579Liabilities 2021: $4,685,453Net Assets 2021: $516,1262021Assets 2022: $5,203,721Liabilities 2022: $4,281,390Net Assets 2022: $922,3312022Assets 2023: $4,710,472Liabilities 2023: $4,045,650Net Assets 2023: $664,8222023Assets 2024: $5,094,803Liabilities 2024: $4,434,443Net Assets 2024: $660,3602024Assets 2025: $4,270,205Liabilities 2025: $3,619,735Net Assets 2025: $650,4702025

Highlighted filing

2015

Assets$3,669,333
Liabilities$1,634,848
Net Assets$2,034,485
Open 2015 Filing

Operations Trend

Revenue Growth36th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $3,361,1942011Expenses 2012: $3,756,9612012Revenue 2013: $3,650,326Expenses 2013: $3,790,237Net Income 2013: -$139,9112013Revenue 2014: $3,640,409Expenses 2014: $3,918,524Net Income 2014: -$278,1152014Revenue 2015: $3,580,170Expenses 2015: $4,038,545Net Income 2015: -$458,3752015Revenue 2016: $3,553,524Expenses 2016: $3,917,613Net Income 2016: -$364,0892016Revenue 2017: $3,062,705Expenses 2017: $3,583,073Net Income 2017: -$520,3682017Revenue 2018: $3,165,673Expenses 2018: $3,407,180Net Income 2018: -$241,5072018Revenue 2019: $3,328,446Expenses 2019: $3,500,693Net Income 2019: -$172,2472019Revenue 2020: $2,894,053Expenses 2020: $3,154,892Net Income 2020: -$260,8392020Revenue 2021: $3,545,866Expenses 2021: $3,541,557Net Income 2021: $4,3092021Revenue 2022: $4,139,571Expenses 2022: $3,722,174Net Income 2022: $417,3972022Revenue 2023: $4,001,369Expenses 2023: $4,263,065Net Income 2023: -$261,6962023Revenue 2024: $4,438,307Expenses 2024: $4,447,475Net Income 2024: -$9,1682024Revenue 2025: $4,157,415Expenses 2025: $4,177,202Net Income 2025: -$19,7872025

Highlighted filing

2015

Revenue$3,580,170
Expenses$4,038,545
Net Income-$458,375
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 2, 2016
Return Version
2014v6.0
Gross Receipts
$3,580,170
Mission and Program Overview

Mission

Broadwater academy is an independent, non-profit institution that exists to provide an academic-based educational program and to provide non-academic programs which enhance and facilitate the development of students who are prepared to succeed in a college program and to contribute to a changing society upon graduation. The academy admits students of any race, color, national and ethnic origin who are all entitled to all the rights, priviledges, programs and activites generally accorded or made available to students at the school.

SEE STATEMENT ATTACHED

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,893,275$2,700,070▼ $193,205
Investments in Publicly Traded Securities$401,677$394,256▼ $7,421
Accounts Receivable$310,078$227,572▼ $82,506
Cash and Non-Interest-Bearing Accounts-$145,823-
Savings and Temporary Cash Investments$93,133--
Pledges and Grants Receivable$27,762$19,774▼ $7,988
Total Assets$3,923,545$3,669,333▼ $254,212
Other Assets Total$197,620$181,838▼ $15,782
Liabilities
Deferred Revenue$710,413$704,585▼ $5,828
Other Liabilities$420,776$587,043▲ $166,267
Accounts Payable and Accrued Expenses$297,579$343,220▲ $45,641
Total Liabilities$1,428,768$1,634,848▲ $206,080
Net Assets / Fund Balance
Unrestricted Net Assets$2,053,610$1,852,647▼ $200,963
Permanently Rstr Net Assets$279,988$94,009▼ $185,979
Temporarily Rstr Net Assets$161,179$87,829▼ $73,350
Total Net Assets Fund Balance$2,494,777$2,034,485▼ $460,292
Total Liabilities and Net Assets / Fund Balance$3,923,545$3,669,333▼ $254,212

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,700,070$3,921,662$6,621,732
Buildings$2,113,405$3,067,014$5,180,419
Leasehold Improvements$399,401$690,735$1,090,136
Equipment$34,165$163,913$198,078
Land$153,098-$153,098

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$401,677-▲ $11,815$16,530$394,256
2013$363,212-▲ $57,045$15,940$401,677
2012$350,287-▲ $31,230$15,730$363,212
2011$350,928-▲ $17,086$15,170$350,287
2010$340,906-▲ $43,789$31,170$350,928
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Ted AmesChairman
Tom AndersonVice Chair a
-Director
Anna BurgerDirector
Dan BrownDirector
Danny VestalDirector
David M ParkerDirector
Julie BadgerDirector
Luke KellamDirector
Paul CustisDirector
Rob GustafsonDirector
Scott KennedyDirector
Cathy RiopelSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$112,925
Program Service Revenue
$3,449,485
Investment Income
$0
Other Revenue
$17,760
All Other Contributions
$103,723
Change in Net Assets
$-458,375

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,580,170
Total Revenue per Audited Statements
$3,580,170
Total Revenue per Form 990
$3,580,170
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,428,653
Other Expenses$1,115,846
Total Fundraising Expense$52,614
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,523,823$550,535-$2,074,358
Benefits to Members$494,046--$494,046
Depreciation Depletion$210,791$9,365-$220,156
Other Employee Benefits$133,851$48,358-$182,209
Occupancy$162,774$18,086-$180,860
Payroll Taxes$107,608$37,808-$145,416
All Other Expenses$114,281--$114,281
Information Technology$73,368--$73,368
Other Expenses$50,431-$52,614$50,431
Insurance$33,211--$33,211
Office Expenses$16,572$16,572-$33,144
Pension Plan Contributions$19,592$7,078-$26,670
Fees for Services Accounting-$18,460-$18,460
Interest$13,469--$13,469
Fees for Services Legal$3,507--$3,507
Advertising$2,184--$2,184
Total Functional Expenses$3,279,669$706,262$52,614$4,038,545

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,038,545
Expenses per Audited Statements$4,037,721
Total Expenses per Audited Statements$4,037,721
Expenses Not Reported on Financial Statements$824
Other Expense Adjustments$824
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
Line of Credit$304,149
Due to Broadwater Academy Foundation$244,591
Capital Leases$38,303
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Page 6, Part VI, Line 11B

“Finance committee members have the opportunity to review the tax return before filing”

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

“Each director or principal officer shall annually sign a statement which affirms such person: 1) has received a copy of the conflicts of interest policy; 2) has read and understands the policy; 3) has agreed to comply with the policy; and 4) understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. The policy includes procedures that involve 1) a duty to disclose; 2) determining whether a conflict of interest exists; and 4) additional steps if violations of the conflicts of interest policy exist.”

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

“Duty of the finance committee and board of directors to approve compensation for headmaster, ceo and employees of the school.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Broadwater Academy
EIN
54-0799130
Phone
7574429041
Address
PO BOX 546, EXMORE, VA 23350

Signing Officer

Name
Joseph Spagnolo
Title
Headmaster
Phone
7574429041
Signed
2016-02-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Spagnolo
Formed
1965
Legal Domicile
Va
Voting Board Members
13
Independent Board Members
13
Employees
92

Preparer

Firm
Leatherbury & Broache & Co Pc
Address
23307 COURTHOUSE AVE, ACCOMAC, VA 23301
Preparer
Robert W Leatherbury CPA
Phone
7577874444
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book / tax depreciation difference 824”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 4B

“Book / tax depreciation difference 824”

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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/LandBldgEquipBasisNetGrp/EOYAmt02700070
IRS990/LandBldgEquipCostOrOtherBssAmt06621732
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0SEE STATEMENT ATTACHED
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt02494777
IRS990/NetAssetsOrFundBalancesEOYAmt02034485
IRS990/NetUnrlzdGainsLossesInvstAmt0-1917
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt018086
IRS990/OccupancyGrp/ProgramServicesAmt0162774
IRS990/OccupancyGrp/TotalAmt0180860
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt016572
IRS990/OfficeExpensesGrp/ProgramServicesAmt016572
IRS990/OfficeExpensesGrp/TotalAmt033144
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0197620
IRS990/OtherAssetsTotalGrp/EOYAmt0181838
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt048358
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0133851
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0182209
IRS990/OtherExpensesGrp/Desc0INSTRUCTIONAL COSTS
IRS990/OtherExpensesGrp/Desc1RECRUITMENT
IRS990/OtherExpensesGrp/Desc2DEVELOPMENT
IRS990/OtherExpensesGrp/Desc3ATHLETICS COST
IRS990/OtherExpensesGrp/FundraisingAmt052614
IRS990/OtherExpensesGrp/ProgramServicesAmt0233725
IRS990/OtherExpensesGrp/ProgramServicesAmt186436
IRS990/OtherExpensesGrp/ProgramServicesAmt250431
IRS990/OtherExpensesGrp/TotalAmt0233725
IRS990/OtherExpensesGrp/TotalAmt186436
IRS990/OtherExpensesGrp/TotalAmt252614
IRS990/OtherExpensesGrp/TotalAmt350431
IRS990/OtherLiabilitiesGrp/BOYAmt0420776
IRS990/OtherLiabilitiesGrp/EOYAmt0587043
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
IRS990/OtherRevenueMiscGrp/ExclusionAmt017760
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt017760
IRS990/OtherRevenueTotalAmt017760
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0550535
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01523823
IRS990/OtherSalariesAndWagesGrp/TotalAmt02074358
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt037808
IRS990/PayrollTaxesGrp/ProgramServicesAmt0107608
IRS990/PayrollTaxesGrp/TotalAmt0145416
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt07078
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt019592
IRS990/PensionPlanContributionsGrp/TotalAmt026670
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0279988
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt094009
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt027762
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt019774
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0JOSEPH SPAGNOLO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND OTHER SCHOOL FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03449485
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03449485
IRS990/ProgSrvcAccomActy2Grp/Desc0TUITION GRANTS AND FINANCIAL AID CREDITS ARE USED TO ASSIST STUDENTS IN ATTENDING THE ACADEMY WHEN THEY WOULD OTHERWISE NOT BE FINANCIALLY ABLE TO DO SO. APPROXIMATELY 120 STUDENTS BENEFIT DIRECTLY EACH YEAR.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0494046
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt0405568
IRS990/PYContributionsGrantsAmt0125795
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01750
IRS990/PYOtherExpensesAmt01022391
IRS990/PYOtherRevenueAmt040827
IRS990/PYProgramServiceRevenueAmt03472037
IRS990/PYRevenuesLessExpensesAmt0-278115
IRS990/PYSalariesCompEmpBnftPaidAmt02490565
IRS990/PYTotalExpensesAmt03918524
IRS990/PYTotalRevenueAmt03640409
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-458375
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt093133
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/BoardDesignatedBalanceEOYPct01.00000
IRS990ScheduleD/BuildingsGrp/BookValueAmt02113405
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03067014
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05180419
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt02706
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0401677
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0394256
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt011815
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt016530
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt02640
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0363212
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0401677
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt057045
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt015940
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt02575
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0350287
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0363212
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt031230
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt015730
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt02556
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0350928
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0350287
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt017086
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt015170
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt02597
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0340906
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0350928
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt043789
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt031170
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt034165
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0163913
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0198078
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0824
IRS990ScheduleD/ExpensesSubtotalAmt04037721
IRS990ScheduleD/LandGrp/BookValueAmt0153098
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0153098
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0399401
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0690735
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01090136
IRS990ScheduleD/OtherExpensesNotIncludedAmt0824
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02700070
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03921662
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06621732
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0304149
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1244591
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt238303
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LINE OF CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO BROADWATER ACADEMY FOUNDATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CAPITAL LEASES
IRS990ScheduleD/RevenueSubtotalAmt03580170
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK / TAX DEPRECIATION DIFFERENCE 824
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05400139
IRS990ScheduleD/TotalExpensesPerForm990Amt04038545
IRS990ScheduleD/TotalLiabilityAmt0587043
IRS990ScheduleD/TotalRevenuePerForm990Amt03580170
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03580170
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04037721
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ADS IN THE LOCAL NEWSPAPAPER, BROCHURES AND OTHER LITERATURE COMMUNICATE THAT BROADWATER ACADEMY DOES NOT DISCRIMINATE AGAINST ANYONE WISHING TO ATTEND THE SCHOOL.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FINANCE COMMITTEE MEMBERS HAVE THE OPPORTUNITY TO REVIEW THE TAX RETURN BEFORE FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR OR PRINCIPAL OFFICER SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: 1) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; 2) HAS READ AND UNDERSTANDS THE POLICY; 3) HAS AGREED TO COMPLY WITH THE POLICY; AND 4) UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THE POLICY INCLUDES PROCEDURES THAT INVOLVE 1) A DUTY TO DISCLOSE; 2) DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS; AND 4) ADDITIONAL STEPS IF VIOLATIONS OF THE CONFLICTS OF INTEREST POLICY EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DUTY OF THE FINANCE COMMITTEE AND BOARD OF DIRECTORS TO APPROVE COMPENSATION FOR HEADMASTER, CEO AND EMPLOYEES OF THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,669,333
Liabilities
$1,634,848
Net assets
$2,034,485
Revenue
$3,580,170
Expenses
$4,038,545
Net income
-$458,375
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.27$3.62$0.65$4.16$4.18$0.02
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.09$4.43$0.66$4.44$4.45$0.01
2023Detailed filing. Detailed filing data is available for this year.$4.71$4.05$0.66$4.00$4.26$0.26
2022Detailed filing. Detailed filing data is available for this year.$5.20$4.28$0.92$4.14$3.72$0.42
2021Detailed filing. Detailed filing data is available for this year.$5.20$4.69$0.52$3.55$3.54$0.00
2020Detailed filing. Detailed filing data is available for this year.$5.21$4.74$0.47$2.89$3.15$0.26
2019Detailed filing. Detailed filing data is available for this year.$5.07$4.17$0.90$3.33$3.50$0.17
2018Detailed filing. Detailed filing data is available for this year.$5.49$4.45$1.04$3.17$3.41$0.24
2017Detailed filing. Detailed filing data is available for this year.$4.87$3.92$0.95$3.06$3.58$0.52
2016Detailed filing. Detailed filing data is available for this year.$4.32$2.65$1.67$3.55$3.92$0.36
2015Detailed filing. Detailed filing data is available for this year.$3.67$1.63$2.03$3.58$4.04$0.46
2014Detailed filing. Detailed filing data is available for this year.$3.92$1.34$2.59$3.64$3.92$0.28
2013Summary only. Only limited summary data is available for this year.$3.90$1.12$2.78$3.65$3.79$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.95$1.14$2.81$3.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.07$0.59$4.48$3.36