Civic Intelligence

Elon Homes and Schools for Children

EIN 56-0543225 • 501(c)3 • Charlotte, NC

View Organization Page

Profile

The organization's mission is to provide safe haven, life skills and education to children in our care. Elon Homes fulfills its mission through its Community-Based Foster Care program.

PO Box 221828Charlotte, NC 28222

www.elonhomes.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

100th percentile

5.90x

Higher debt load relative to assets than 100% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

98th percentile

8.53x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

7th percentile

-48%

Higher net margin than 7% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

92nd percentile

$231,052

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 17.7% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

10th percentile

-20%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

6th percentile

-47%

Faster revenue growth than 6% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$1,885,575

Down $481,066 (-20%) from 2020

Liabilities

Up

$11,125,434

Up $142,710 (+1.3%) from 2020

Net Assets

Down

-$9,239,859

Down $623,776 (-7.2%) from 2020

Operations
Liabilities / Revenue98th percentileNet Margin7th percentile

Revenue

Down

$1,304,649

Down $1,143,154 (-47%) from 2020

Expenses

Down

$1,928,425

Down $1,721,434 (-47%) from 2020

Net Income

Up

-$623,776

Up $578,280 (+48%) from 2020

Trend Graphs

Balance Sheet Trend

Asset Growth10th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$10M$0-$10MAssets 2010: $7,624,436Liabilities 2010: $4,782,856Net Assets 2010: $2,841,5802010Assets 2011: $7,173,650Liabilities 2011: $6,280,479Net Assets 2011: $893,1712011Assets 2012: $6,893,517Liabilities 2012: $7,639,708Net Assets 2012: -$746,1912012Assets 2013: $3,192,041Liabilities 2013: $4,790,904Net Assets 2013: -$1,598,8632013Assets 2014: $3,985,683Liabilities 2014: $5,987,216Net Assets 2014: -$2,001,5332014Assets 2015: $1,954,267Liabilities 2015: $6,106,999Net Assets 2015: -$4,152,7322015Assets 2016: $2,308,944Liabilities 2016: $7,224,457Net Assets 2016: -$4,915,5132016Assets 2017: $2,599,362Liabilities 2017: $8,665,149Net Assets 2017: -$6,065,7872017Assets 2018: $2,490,760Liabilities 2018: $9,188,322Net Assets 2018: -$6,697,5622018Assets 2019: $2,642,710Liabilities 2019: $10,211,472Net Assets 2019: -$7,568,7622019Assets 2020: $2,366,641Liabilities 2020: $10,982,724Net Assets 2020: -$8,616,0832020Assets 2021: $1,885,575Liabilities 2021: $11,125,434Net Assets 2021: -$9,239,8592021

Highlighted filing

2021

Assets$1,885,575
Liabilities$11,125,434
Net Assets-$9,239,859
Open 2021 Filing

Operations Trend

Revenue Growth6th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $4,650,2692010Expenses 2011: $4,529,6282011Expenses 2012: $4,059,9812012Expenses 2013: $4,240,6622013Revenue 2014: $2,236,054Expenses 2014: $4,423,948Net Income 2014: -$2,187,8942014Revenue 2015: $973,528Expenses 2015: $3,396,182Net Income 2015: -$2,422,6542015Revenue 2016: $1,879,677Expenses 2016: $2,929,834Net Income 2016: -$1,050,1572016Revenue 2017: $1,938,876Expenses 2017: $3,332,332Net Income 2017: -$1,393,4562017Revenue 2018: $2,248,583Expenses 2018: $3,368,955Net Income 2018: -$1,120,3722018Revenue 2019: $2,577,507Expenses 2019: $3,642,020Net Income 2019: -$1,064,5132019Revenue 2020: $2,447,803Expenses 2020: $3,649,859Net Income 2020: -$1,202,0562020Revenue 2021: $1,304,649Expenses 2021: $1,928,425Net Income 2021: -$623,7762021

Highlighted filing

2021

Revenue$1,304,649
Expenses$1,928,425
Net Income-$623,776
Open 2021 Filing

Filings

Most recent year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,885,575
Liabilities
$11,125,434
Net assets
-$9,239,859
Revenue
$1,304,649
Expenses
$1,928,425
Net income
-$623,776
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$1.89$11.1$9.24$1.30$1.93$0.62
2020Detailed filing. Detailed filing data is available for this year.$2.37$11.0$8.62$2.45$3.65$1.20
2019Detailed filing. Detailed filing data is available for this year.$2.64$10.2$7.57$2.58$3.64$1.06
2018Detailed filing. Detailed filing data is available for this year.$2.49$9.19$6.70$2.25$3.37$1.12
2017Detailed filing. Detailed filing data is available for this year.$2.60$8.67$6.07$1.94$3.33$1.39
2016Detailed filing. Detailed filing data is available for this year.$2.31$7.22$4.92$1.88$2.93$1.05
2015Detailed filing. Detailed filing data is available for this year.$1.95$6.11$4.15$0.97$3.40$2.42
2014Detailed filing. Detailed filing data is available for this year.$3.99$5.99$2.00$2.24$4.42$2.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.19$4.79$1.60$4.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.89$7.64$0.75$4.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.17$6.28$0.89$4.53
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.62$4.78$2.84$4.65
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$1,499,704
Mission and Program Overview

Mission

The organization's mission is to provide safe haven, life skills and education to children in our care. Elon homes fulfills its mission through its three primary programs: community-based foster care, kids central of the carolinas behavioral and mental health services, and kennedy charter public school.

The organization's mission is to provide safe haven, life skills and education to children in our care. Elon Homes fulfills its mission through its Community-Based Foster Care program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,135,536$1,828,744▼ $306,792
Accounts Receivable$141,986$0▼ $141,986
Cash and Non-Interest-Bearing Accounts$60,091$47,575▼ $12,516
Prepaid Expenses and Deferred Charges$29,028$9,255▼ $19,773
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,366,641$1,885,575▼ $481,066
Other Assets Total-$1-
Liabilities
Other Liabilities$10,285,101$11,096,500▲ $811,399
Unsecured Notes Loans Payable$425,638--
Accounts Payable and Accrued Expenses$271,985$28,934▼ $243,051
Total Liabilities$10,982,724$11,125,434▲ $142,710
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-8,616,083$-9,239,859▼ $623,776
Total Net Assets Fund Balance$-8,616,083$-9,239,859▼ $623,776
Total Liabilities and Net Assets / Fund Balance$2,366,641$1,885,575▼ $481,066

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,736,169$769,427$2,505,596
Other Land Buildings$87,562$97,241$184,803
Equipment$5,013$73,847$78,860
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rev Dr Frederick G GrossePresidentFT$179,954$51,098$231,052
Jane GrosseVice PresidentPT$123,333$3,350$126,683

Board Members and Trustees

NameTitle
Brad GilliamChairman
David KennedyDirector
Jackie TooleDirector
Jane ParrishDirector
Lisa JohnsonDirector
Veronica DawkinsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$698,217
Program Service Revenue
$635,850
Investment Income
$1,870
Other Revenue
$-31,288
All Other Contributions
$358,517
Change in Net Assets
$-623,776
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,026,560
Salaries, Compensation, and Employee Benefits$901,865
Total Fundraising Expense$150,427
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$331,700$145,091-$476,791
Current Officers, Directors, Trustees, and Key Employees-$179,954$123,333$303,287
Occupancy$106,042$80,174-$186,216
Depreciation Depletion$154,409$23,262-$177,671
Insurance$24,982$74,500-$99,482
Information Technology$25,653$34,559$6,706$66,918
Office Expenses$10,445$52,209$234$62,888
Payroll Taxes$29,510$25,055$3,710$58,275
Fees for Services Accounting$18,767$18,767$22$37,556
Other Employee Benefits$2,495$32,244$107$34,846
Pension Plan Contributions$4,580$24,086-$28,666
Conferences and Meetings$15,981--$15,981
Fees for Services Other--$15,418$15,418
Travel$3,221$7,178-$10,399
Fees for Services Legal-$1,799-$1,799
Advertising$32$34$859$925
Other Expenses$8,926$812$38$850
Total Functional Expenses$1,062,672$715,326$150,427$1,928,425
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
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Due to Other Funds$11,096,500
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 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
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“CEO/President Dr. Frederick Grosse and VP Inst. Adv. Jane Grosse are husband and wife”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Copies of the 990 are provided to the Board of Governors and management for review.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Board candidates must disclose potential conflicts of interest before the member is appointed to the board. The conflict-of-interest policy is reviewed annually by the organization and its employees.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The board approves all salary increases to the CEO based on a recommendation by an independent consultant and/or market surveys based on the actual job duties and company performance.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The board approves all salary increases for the CEO and officers based on independent reviews and market surveys.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are provided upon request”

Filing and Contact Details

Filer

Filer Name
Elon Homes and Schools for Children
EIN
56-0543225
Phone
7045760245
Address
PO Box 221828, Charlotte, NC 28222

Signing Officer

Name
Wendy Laxton
Title
CFO
Signed
2022-05-16

Organization Details

Formed
1905
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
53
Raw XML AppendixShowing 400 of 519 raw XML fields

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/MissionDesc0The organization's mission is to provide safe haven, life skills and education to children in our care. Elon Homes fulfills its mission through its Community-Based Foster Care program.
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0184803
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Rev Dr Frederick G Grosse
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0231052
IRS990ScheduleJ/SeverancePaymentInd0false
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CEO/President Dr. Frederick Grosse and VP Inst. Adv. Jane Grosse are husband and wife
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Copies of the 990 are provided to the Board of Governors and management for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board candidates must disclose potential conflicts of interest before the member is appointed to the board. The conflict-of-interest policy is reviewed annually by the organization and its employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The board approves all salary increases to the CEO based on a recommendation by an independent consultant and/or market surveys based on the actual job duties and company performance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The board approves all salary increases for the CEO and officers based on independent reviews and market surveys.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Documents are provided upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process

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