Civic Intelligence

Hobgood Academy Inc.

990 • Fiscal year 2015 • EIN 56-0940857

Jul 01, 2014 to Jun 30, 2015 • Filed on Aug 03, 2015

Organization ProfileWWW.HOBGOODACADEMY.COM

View Organization Page

PO Box 307Hobgood, NC 27843

(252) 826-4116

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.49x

Higher debt load relative to assets than 83% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

83rd percentile

0.48x

Higher debt load relative to revenue than 83% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

13th percentile

-22%

Higher net margin than 13% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

76th percentile

16%

Faster asset growth than 76% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

17th percentile

-18%

Faster revenue growth than 17% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$541,771

Up $76,722 (+16%) from 2014

Net Assets

Down

$277,092

Down $122,840 (-31%) from 2014

Liabilities

Up

$264,679

Up $199,562 (+306%) from 2014

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin13th percentile

Revenue

Down

$550,741

Down $122,271 (-18%) from 2014

Expenses

Down

$673,581

Down $211,455 (-24%) from 2014

Net Income

Up

-$122,840

Up $89,184 (+42%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth76th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2010: $894,105Liabilities 2010: $114,087Net Assets 2010: $780,0182010Assets 2011: $866,829Liabilities 2011: $113,614Net Assets 2011: $753,2152011Assets 2012: $837,759Liabilities 2012: $98,166Net Assets 2012: $739,5932012Assets 2013: $698,685Liabilities 2013: $86,729Net Assets 2013: $611,9562013Assets 2014: $465,049Liabilities 2014: $65,117Net Assets 2014: $399,9322014Assets 2015: $541,771Liabilities 2015: $264,679Net Assets 2015: $277,0922015Assets 2016: $470,226Liabilities 2016: $495,869Net Assets 2016: -$25,6432016Assets 2017: $740,037Liabilities 2017: $1,045,879Net Assets 2017: -$305,8422017Assets 2018: $453,275Liabilities 2018: $69,391Net Assets 2018: $383,8842018Assets 2019: $304,243Liabilities 2019: $55,921Net Assets 2019: $248,3222019Assets 2020: $223,107Liabilities 2020: $47,417Net Assets 2020: $175,6902020Assets 2021: $166,839Liabilities 2021: $12,642Net Assets 2021: $154,1972021Assets 2022: $166,151Liabilities 2022: $13,517Net Assets 2022: $152,6342022Assets 2023: $59,669Liabilities 2023: $13,516Net Assets 2023: $46,1532023Assets 2024: $26,211Liabilities 2024: $6,717Net Assets 2024: $19,4942024Assets 2025: $10,071Liabilities 2025: $6,999Net Assets 2025: $3,0722025

Highlighted filing

2015

Assets$541,771
Liabilities$264,679
Net Assets$277,092
Open 2015 Filing

Operations Trend

Revenue Growth17th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,018,2312010Expenses 2011: $1,028,0612011Expenses 2012: $996,9592012Expenses 2013: $875,3002013Revenue 2014: $673,012Expenses 2014: $885,036Net Income 2014: -$212,0242014Revenue 2015: $550,741Expenses 2015: $673,581Net Income 2015: -$122,8402015Revenue 2016: $481,834Expenses 2016: $784,569Net Income 2016: -$302,7352016Revenue 2017: $413,320Expenses 2017: $693,519Net Income 2017: -$280,1992017Revenue 2018: $1,275,366Expenses 2018: $585,640Net Income 2018: $689,7262018Revenue 2019: $499,630Expenses 2019: $635,192Net Income 2019: -$135,5622019Revenue 2020: $175,519Expenses 2020: $248,151Net Income 2020: -$72,6322020Revenue 2021: $191,829Expenses 2021: $213,322Net Income 2021: -$21,4932021Revenue 2022: $217,452Expenses 2022: $219,015Net Income 2022: -$1,5632022Revenue 2023: $172,654Expenses 2023: $279,135Net Income 2023: -$106,4812023Revenue 2024: $189,934Expenses 2024: $216,593Net Income 2024: -$26,6592024Revenue 2025: $178,634Expenses 2025: $195,056Net Income 2025: -$16,4222025

Highlighted filing

2015

Revenue$550,741
Expenses$673,581
Net Income-$122,840
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Aug 3, 2015
Return Version
2014v5.0
Gross Receipts
$644,306
Mission and Program Overview

Mission

EDUCATIONAL INSTITUTION

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$120,349$309,266▲ $188,917
Land, Buildings, and Equipment, Net$207,241$188,901▼ $18,340
Investments in Publicly Traded Securities$114,250$24,379▼ $89,871
Accounts Receivable$21,180$16,634▼ $4,546
Prepaid Expenses and Deferred Charges$2,029$2,591▲ $562
Total Assets$465,049$541,771▲ $76,722
Liabilities
Mortgage Notes Payable Secured by Investment Property-$200,000-
Accounts Payable and Accrued Expenses$58,486$51,202▼ $7,284
Deferred Revenue$6,631$13,477▲ $6,846
Total Liabilities$65,117$264,679▲ $199,562
Net Assets / Fund Balance
Unrestricted Net Assets$399,932$277,092▼ $122,840
Total Net Assets Fund Balance$399,932$277,092▼ $122,840
Total Liabilities and Net Assets / Fund Balance$465,049$541,771▲ $76,722

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$188,901$836,762$1,025,663
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Jesse CouncilChair
Buddy LeggettDirector
Harris JoseyDirector
Josh RobersonDirector
Julie HymanDirector
Kip RobersonDirector
Miriam KempDirector
Rhonda MayerDirector
Shelley MobleyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$135,345
Program Service Revenue
$410,619
Investment Income
$130
Other Revenue
$4,647
All Other Contributions
$135,345
Change in Net Assets
$-122,840
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$447,042
Other Expenses$226,539
Total Fundraising Expense$14,626
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$359,256$51,064-$410,320
Occupancy$85,257$5,203-$90,460
Payroll Taxes$27,939$3,971-$31,910
Insurance$23,984--$23,984
Depreciation Depletion$23,341--$23,341
Pension Plan Contributions$4,198$614-$4,812
Fees for Services Accounting-$4,130-$4,130
Advertising-$2,014-$2,014
Other Expenses$182$4,070$14,626$182
Travel-$109-$109
Total Functional Expenses$584,143$74,812$14,626$673,581
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Copy of tax return is given to management before it is filed.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon written request.”

Filing and Contact Details

Filer

Filer Name
Hobgood Academy Inc
EIN
56-0940857
Phone
2528264116
Address
PO BOX 307, HOBGOOD, NC 27843

Signing Officer

Name
Kelly Craft
Title
Treasurer
Phone
2528264116
Signed
2015-08-03

Organization Details

Principal Officer
Joe Ayers
Voting Board Members
9
Independent Board Members
9
Employees
33
Volunteers
50

Preparer

Firm
Pate Horton & Ess Pa
Address
PO BOX 787, NASHVILLE, NC 27856
Preparer
David a Ess CPA
Phone
2524593186
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Management of the school considers the likelihood of changes by taxing authorities in its exempt organization returns and discloses potential significant changes that management believes are more likely than not to occur upon examination by tax authorities. Management has not identified any uncertain tax positions in filed returns that require disclosure in the accompanying financial statements. The school's tax returns for the past three years are subject to examination by tax authorities, and may change upon examination.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT OF THE SCHOOL CONSIDERS THE LIKELIHOOD OF CHANGES BY TAXING AUTHORITIES IN ITS EXEMPT ORGANIZATION RETURNS AND DISCLOSES POTENTIAL SIGNIFICANT CHANGES THAT MANAGEMENT BELIEVES ARE MORE LIKELY THAN NOT TO OCCUR UPON EXAMINATION BY TAX AUTHORITIES. MANAGEMENT HAS NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS IN FILED RETURNS THAT REQUIRE DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL'S TAX RETURNS FOR THE PAST THREE YEARS ARE SUBJECT TO EXAMINATION BY TAX AUTHORITIES, AND MAY CHANGE UPON EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0188901
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0true
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SOLICITATION OF STUDENTS OF ANY RACE, CREED OR COLOR IS PUBLICIZED IN THE LOCAL NEWSPAPERS DURING MAY OF EACH YEAR. ALSO HAVE A BROCHURE WHICH INCLUDES A STATEMENT OF ITS NONDISCRIMINATORY POLICY. THE SCHOOL PROVIDES TWO SCHOLARSHIPS SPECIFICALLY FOR BLACK STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE POLICY IN FORCE IS DUE TO AN IRS AUDIT THAT SPECIFICALLY STIPULATES THE SCHOOL IS TO PROVIDE AT LEAST TWO SCHOLARSHIPS ANNUALLY SPECIFICALLY TO BLACK STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 5
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COPY OF TAX RETURN IS GIVEN TO MANAGEMENT BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0465049
IRS990/TotalAssetsEOYAmt0541771
IRS990/TotalAssetsGrp/BOYAmt0465049
IRS990/TotalAssetsGrp/EOYAmt0541771
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0135345
IRS990/TotalEmployeeCnt033
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt014626
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt074812
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0584143
IRS990/TotalFunctionalExpensesGrp/TotalAmt0673581
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt065117
IRS990/TotalLiabilitiesEOYAmt0264679
IRS990/TotalLiabilitiesGrp/BOYAmt065117
IRS990/TotalLiabilitiesGrp/EOYAmt0264679
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0399932
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0277092
IRS990/TotalProgramServiceExpensesAmt0584143
IRS990/TotalProgramServiceRevenueAmt0410619
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0415396
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0550741
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0465049
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0541771
IRS990/TravelGrp/ManagementAndGeneralAmt0109
IRS990/TravelGrp/TotalAmt0109
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0399932
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0277092
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 279
IRS990/USAddress/CityNm0OAK CITY
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027857
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.HOBGOODACADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KELLY CRAFT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02528264116
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-08-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOBGOOD ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0HOBG
ReturnHeader/Filer/EIN0560940857
ReturnHeader/Filer/PhoneNum02528264116
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 307
ReturnHeader/Filer/USAddress/CityNm0HOBGOOD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027843
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561315531
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PATE HORTON & ESS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 787
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NASHVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027856
ReturnHeader/PreparerPersonGrp/PhoneNum02524593186
ReturnHeader/PreparerPersonGrp/PreparationDt02015-08-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A ESS CPA
ReturnHeader/ReturnTs02015-08-27T14:44:03-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$541,771
Liabilities
$264,679
Net assets
$277,092
Revenue
$550,741
Expenses
$673,581
Net income
-$122,840
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.01$0.01$0.00$0.18$0.20$0.02
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.03$0.01$0.02$0.19$0.22$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.06$0.01$0.05$0.17$0.28$0.11
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.17$0.01$0.15$0.22$0.22$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.17$0.01$0.15$0.19$0.21$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$0.05$0.18$0.18$0.25$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.30$0.06$0.25$0.50$0.64$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.45$0.07$0.38$1.28$0.59$0.69
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.74$1.05$0.31$0.41$0.69$0.28
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.47$0.50$0.03$0.48$0.78$0.30
2015Detailed filing. Detailed filing data is available for this year.$0.54$0.26$0.28$0.55$0.67$0.12
2014Detailed filing. Detailed filing data is available for this year.$0.47$0.07$0.40$0.67$0.89$0.21
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.09$0.61$0.88
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.10$0.74$1.00
2011XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.87$0.11$0.75$1.03
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.89$0.11$0.78$1.02
Peer Organizations

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