Civic Intelligence

Asheville Christian Academy

EIN 56-0889168 • 501(c)3 • Swannanoa, NC

Profile

Operation of private school

PO Box 1089Swannanoa, NC 28778

www.acacademy.org

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.22x

Higher debt load relative to assets than 42% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

50th percentile

0.38x

Higher debt load relative to revenue than 50% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Source year 2024

Net Margin

19th percentile

-7.3%

Higher net margin than 19% of similar nonprofits.

NTEE B • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

68th percentile

$230,704

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

NTEE B • $10M-$25M nonprofits • Source year 2024

Asset Growth

23rd percentile

-3.1%

Faster asset growth than 23% of similar nonprofits.

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

Revenue Growth

14th percentile

-11%

Faster revenue growth than 14% of similar nonprofits.

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

Assets

Down

$22,408,429

Down $713,058 (-3.1%) from 2023

Liabilities

Up

$4,911,501

Up $207,318 (+4.4%) from 2023

Net Assets

Down

$17,496,928

Down $920,376 (-5.0%) from 2023

Revenue

Down

$13,014,375

Down $1,559,069 (-11%) from 2023

Expenses

Up

$13,967,558

Up $1,585,271 (+13%) from 2023

Net Income

Down

-$953,183

Down $3,144,340 (-144%) from 2023

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2012: $12,259,522Liabilities 2012: $1,565,603Net Assets 2012: $10,693,9192012Assets 2013: $12,077,353Liabilities 2013: $1,462,723Net Assets 2013: $10,614,6302013Assets 2014: $15,734,452Liabilities 2014: $3,671,204Net Assets 2014: $12,063,2482014Assets 2015: $16,573,297Liabilities 2015: $4,384,453Net Assets 2015: $12,188,8442015Assets 2016: $16,725,215Liabilities 2016: $3,715,273Net Assets 2016: $13,009,9422016Assets 2017: $16,201,374Liabilities 2017: $3,158,521Net Assets 2017: $13,042,8532017Assets 2018: $18,159,923Liabilities 2018: $3,642,192Net Assets 2018: $14,517,7312018Assets 2019: $19,204,330Liabilities 2019: $3,845,457Net Assets 2019: $15,358,8732019Assets 2020: $19,370,110Liabilities 2020: $4,319,516Net Assets 2020: $15,050,5942020Assets 2021: $26,373,626Liabilities 2021: $9,661,508Net Assets 2021: $16,712,1182021Assets 2022: $24,231,581Liabilities 2022: $8,019,344Net Assets 2022: $16,212,2372022Assets 2023: $23,121,487Liabilities 2023: $4,704,183Net Assets 2023: $18,417,3042023Assets 2024: $22,408,429Liabilities 2024: $4,911,501Net Assets 2024: $17,496,9282024

Highlighted filing

2024

Assets$22,408,429
Liabilities$4,911,501
Net Assets$17,496,928

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2012: $5,372,3802012Expenses 2013: $5,494,6382013Revenue 2014: $7,387,329Expenses 2014: $5,938,711Net Income 2014: $1,448,6182014Revenue 2015: $6,502,662Expenses 2015: $6,375,775Net Income 2015: $126,8872015Revenue 2016: $7,507,925Expenses 2016: $6,682,175Net Income 2016: $825,7502016Revenue 2017: $7,549,842Expenses 2017: $7,529,569Net Income 2017: $20,2732017Revenue 2018: $10,064,394Expenses 2018: $8,597,655Net Income 2018: $1,466,7392018Revenue 2019: $9,973,399Expenses 2019: $9,160,107Net Income 2019: $813,2922019Revenue 2020: $9,361,822Expenses 2020: $9,650,006Net Income 2020: -$288,1842020Revenue 2021: $11,567,824Expenses 2021: $9,946,507Net Income 2021: $1,621,3172021Revenue 2022: $10,533,204Expenses 2022: $11,033,085Net Income 2022: -$499,8812022Revenue 2023: $14,573,444Expenses 2023: $12,382,287Net Income 2023: $2,191,1572023Revenue 2024: $13,014,375Expenses 2024: $13,967,558Net Income 2024: -$953,1832024

Highlighted filing

2024

Revenue$13,014,375
Expenses$13,967,558
Net Income-$953,183

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.4$4.91$17.5$13.0$14.0$0.95
2023Summary only. Only limited summary data is available for this year.$23.1$4.70$18.4$14.6$12.4$2.19
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.2$8.02$16.2$10.5$11.0$0.50
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.4$9.66$16.7$11.6$9.95$1.62
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.4$4.32$15.1$9.36$9.65$0.29
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.2$3.85$15.4$9.97$9.16$0.81
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.2$3.64$14.5$10.1$8.60$1.47
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.2$3.16$13.0$7.55$7.53$0.02
2016Detailed filing. Detailed filing data is available for this year.$16.7$3.72$13.0$7.51$6.68$0.83
2015Detailed filing. Detailed filing data is available for this year.$16.6$4.38$12.2$6.50$6.38$0.13
2014Detailed filing. Detailed filing data is available for this year.$15.7$3.67$12.1$7.39$5.94$1.45
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.1$1.46$10.6$5.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.3$1.57$10.7$5.37
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Sep 23, 2025
Return Version
2023v6.0
Gross Receipts
$13,015,541
Mission and Program Overview

Mission

Operation of private school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$18,325,049$18,173,603▼ $151,446
Savings and Temporary Cash Investments$1,668,810$2,241,964▲ $573,154
Cash and Non-Interest-Bearing Accounts$553,774$501,250▼ $52,524
Pledges and Grants Receivable$256,985--
Accounts Receivable$257,989$105,271▼ $152,718
Prepaid Expenses and Deferred Charges$5,093$7,512▲ $2,419
Total Assets$23,121,487$22,408,429▼ $713,058
Other Assets Total$2,053,787$1,378,829▼ $674,958
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,443,860$2,957,254▲ $513,394
Accounts Payable and Accrued Expenses$754,871$940,880▲ $186,009
Other Liabilities$781,065$654,791▼ $126,274
Deferred Revenue$724,387$358,576▼ $365,811
Total Liabilities$4,704,183$4,911,501▲ $207,318
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$17,795,308$16,797,355▼ $997,953
Net Assets With Donor Restrictions$621,996$699,573▲ $77,577
Total Net Assets Fund Balance$18,417,304$17,496,928▼ $920,376
Total Liabilities and Net Assets / Fund Balance$23,121,487$22,408,429▼ $713,058

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,489,433$8,735,272$23,224,705
Equipment$1,390,505$1,141,795$2,532,300
Land$1,682,401-$1,682,401
Leasehold Improvements$611,264$476,108$1,087,372
Other Assets Org$439,614--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$342,950-▲ $26,748-$365,924
2022$353,759-▼ $9,909-$342,950
2021$318,045$103,438▼ $33,861$651$353,759
2020$287,417$2,725▲ $30,930-$318,045
2019$281,276$5,022▲ $3,988-$287,417
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William GeorgeCEO/Head of SchoolFT$206,906$23,798$230,704
William PutnamCFOFT$84,220$74,271$158,491

Board Members and Trustees

NameTitle
Joshua BradshawChair
Emily GerritzVice Chair
Claude DicksBoard member
Jamie GreeneBoard member
Kristi OwensBoard member
Leigh VermBoard member
Rachel McNabbBoard member
Tracy GualanoBoard member
Treavor RileyBoard member
Jennifer RisedenSecretary
Brian CourcelleTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Redefine Facility CleaningCleaning1125 Sweeten Creek Road Suite 20, Asheville, NC 28803$290,173
Revenue and Support

Revenue Composition

Contributions and Grants
$872,559
Program Service Revenue
$11,708,890
Investment Income
$64,750
Other Revenue
$368,176
All Other Contributions
$733,359
Change in Net Assets
$-953,183

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Clothing and Household Goods-$34,300Appraisal
Other Non Cash Contri Table1$15,000Fair market value
Other Non Cash Contri Table1$8,175Cost
Total Noncash Contributions2$57,475-

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,691,205
Revenue Not Reported on Financial Statements
$1,323,170
Revenue Not Reported on Form 990
$32,807
Other Revenue Adjustments
$1,323,170
Total Revenue per Audited Statements
$11,724,012
Total Revenue per Form 990
$13,014,375
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$7,417,742
Other Expenses$5,226,646
Grants and Similar Amounts Paid$1,323,170
Total Fundraising Expense$443,912
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,575,450$1,476,076$194,141$5,245,667
All Other Expenses$1,322,454$132,617$126,529$1,581,600
Other Employee Benefits$1,387,880$80,579$9,976$1,478,435
Grants to Domestic Individuals$1,323,170--$1,323,170
Depreciation Depletion$875,912--$875,912
Payroll Taxes$75,979$312,469$14,067$402,515
Occupancy$89,236$299,676-$388,912
Current Officers, Directors, Trustees, and Key Employees$148,330$136,974$5,821$291,125
Other Expenses-$236,579$228$236,579
Interest-$151,588-$151,588
Information Technology-$134,491-$134,491
Insurance-$128,173-$128,173
Office Expenses-$88,076$24,700$112,776
Advertising-$1,122$68,450$69,572
Fees for Services Other-$49,791-$49,791
Fees for Services Accounting-$22,126-$22,126
Fees for Services Legal-$7,422-$7,422
Total Functional Expenses$8,798,411$4,725,235$443,912$13,967,558

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$13,967,558
Expenses per Audited Statements$12,644,388
Total Expenses per Audited Statements$12,644,388
Expenses Not Reported on Financial Statements$1,323,170
Other Expense Adjustments$1,323,170
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$143,979
Fundraising Direct Expenses$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$283,179$143,979-$143,979
Total Events$283,179$143,979-$143,979
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating lease liability$361,601
Custodial accounts$217,367
Financing lease liability$75,823
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

Board Chairman, Joshua Bradshaw and Board Member Rachel McNabb are cousins.

Form 990, Part VI, Section A, line 6

Current parents, staff, grandparent and great-grandparents as well as alumni, alumni parents, former staff and former board members are eligiblefor corporation membership. The Corporation as a body elects the Board of Directors and votes on major school decisions.

Form 990, Part VI, Section A, line 7A

The Corporation as a body elects the Board of Directors and votes on major school decisions.

Form 990, Part VI, Section A, line 7B

The Corporation as a body elects the Board of Directors and votes on major school decisions.

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

A copy of the 990 is provided to the Board for review

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

Any conflicts of interest are presented at board meetings and is covered under board policy 4.5.3.B which states: When the Board is to decide upon an issue about which member has a conflict of interest, that member shall disclose the conflict to the Board and absent herself or himself without comment from not only the vote but also from the deliberation.

Form 990, Part VI, Section B, line 15

The Head of the School's contract is reviewed every three years. The"Head's Review Committee" is solely responsible for compensation issues. Compensation Management is covered in policy 2.6 and states: The Head of School will not cause or allow jeopardy to the organization's fiscal integrity or public image when dealing with employment, compensation and benefits for employees, consultants or contractors. The Head of School will not: 1, Change his own compensation. 2. Change his own benefits, except as consistent with a package for all other employees. 3. Promise or imply anything other than "at-will" employment. 4. Establish current compensation and benefits that deviate materially from the geographic and/or professional market value for the skills employed. 5. Pertaining to consultants and contract vendors, create obligations over a longer term than revenues can be safely projected, in no event longer than one year. 6. Establish or change retirement benefits so as to cause situations that are unpredictable for the organization, or inequitable for employees.

Form 990, Part VI, Section C, line 19

All governing documents are available upon request

Filing and Contact Details

Filer

Filer Name
Asheville Christian Academy Inc
EIN
56-0889168
Phone
8285812200
Address
PO Box 1089, Swannanoa, NC 28778

Signing Officer

Name
William Putnam
Title
CFO
Phone
8285812200
Signed
2025-09-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Putnam
Formed
1967
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
11
Employees
230
Volunteers
442

Preparer

Firm
Prager Metis CPAs PLLC
Address
32 Orange Street, Asheville, NC 28801
Preparer
Crystal Goldsmith
Phone
8282813161
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 24E

J Term: Program service expenses 215,632. Management and general expenses 0. Fundraising expenses 0. Total expenses 215,632. Student related activities: Program service expenses 202,364. Management and general expenses 0. Fundraising expenses 0. Total expenses 202,364. Fine arts supply: Program service expenses 149,558. Management and general expenses 0. Fundraising expenses 0. Total expenses 149,558. Student activities: Program service expenses 145,328. Management and general expenses 0. Fundraising expenses 0. Total expenses 145,328. Professional advancement: Program service expenses 139,164. Management and general expenses 0. Fundraising expenses 0. Total expenses 139,164. Athletics: Program service expenses 116,609. Management and general expenses 0. Fundraising expenses 0. Total expenses 116,609. Food: Program service expenses 108,231. Management and general expenses 0. Fundraising expenses 0. Total expenses 108,231. Gifts to faculty/staff: Program service expenses 101,658. Management and general expenses 0. Fundraising expenses 0. Total expenses 101,658. Supplies: Program service expenses 88,556. Management and general expenses 0. Fundraising expenses 0. Total expenses 88,556. Gala and auction: Program service expenses 0. Management and general expenses 0. Fundraising expenses 76,976. Total expenses 76,976. Contract labor: Program service expenses 0. Management and general expenses 58,710. Fundraising expenses 1,553. Total expenses 60,263. Vehicle maintenance: Program service expenses 0. Management and general expenses 54,883. Fundraising expenses 0. Total expenses 54,883. Development: Program service expenses 0. Management and general expenses 0. Fundraising expenses 48,000. Total expenses 48,000. Testing: Program service expenses 28,008. Management and general expenses 0. Fundraising expenses 0. Total expenses 28,008. Workers compensation: Program service expenses 0. Management and general expenses 19,024. Fundraising expenses 0. Total expenses 19,024. Library and media: Program service expenses 13,755. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,755. Dues and subscriptions: Program service expenses 9,208. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,208. Faculty recruitment: Program service expenses 4,383. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,383.

Financial Statement Notes

Part V, Line 4:

Endowment funds are held to provde scholarships to students of the organization.

Part X, Line 2:

FASB ASC 740, "Accounting for Uncertainty in Income Taxes" clarified the accounting for the recognition and measurement of uncertainties in income taxes recognized in an entity's financial statements and prescribes a threshold of more likely-than-not for recognition of tax positions taken or expected to be taken in a tax return. The Academy's policy is to evaluate the likelihood that its uncertain tax positions will prevail upon examination based on the extent to which those positions have substantial support within the Internal Revenue Code and Regulations, Revenue Rulings, court decisions and other evidence.

Part XI, Line 4B - Other Adjustments:

Financial aid 1,323,170.

Part XII, Line 4B - Other Adjustments:

Financial aid 1,323,170.

Raw XML AppendixShowing 400 of 646 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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