Civic Intelligence

Hobgood Academy Inc.

990 • Fiscal year 2018 • EIN 56-0940857

Jul 01, 2017 to Jun 30, 2018 • Filed on Aug 01, 2018

Organization ProfileWWW.HOBGOODACADEMY.COM

View Organization Page

201 S Beech StHobgood, NC 27843

(252) 826-4116

Siviq Scores

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

Liabilities / Assets

59th percentile

0.15x

Higher debt load relative to assets than 59% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

39th percentile

0.05x

Higher debt load relative to revenue than 39% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

92nd percentile

54%

Higher net margin than 92% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

39th percentile

$25,053

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

3rd percentile

-39%

Faster asset growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

97th percentile

209%

Faster revenue growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets59th percentile

Assets

Down

$453,275

Down $286,762 (-39%) from 2017

Net Assets

Up

$383,884

Up $689,726 (+226%) from 2017

Liabilities

Down

$69,391

Down $976,488 (-93%) from 2017

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin92nd percentile

Revenue

Up

$1,275,366

Up $862,046 (+209%) from 2017

Expenses

Down

$585,640

Down $107,879 (-16%) from 2017

Net Income

Up

$689,726

Up $969,925 (+346%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth3rd 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

2018

Assets$453,275
Liabilities$69,391
Net Assets$383,884
Open 2018 Filing

Operations Trend

Revenue Growth97th 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

2018

Revenue$1,275,366
Expenses$585,640
Net Income$689,726
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Aug 1, 2018
Return Version
2017v2.3
Gross Receipts
$1,612,969
Mission and Program Overview

Mission

EDUCATIONAL INSTITUTION

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$354,016$403,541▲ $49,525
Accounts Receivable$29,839$32,603▲ $2,764
Other Notes and Loans Receivable, Net-$10,000-
Prepaid Expenses and Deferred Charges$6,871$6,927▲ $56
Land, Buildings, and Equipment, Net$349,311$204▼ $349,107
Total Assets$740,037$453,275▼ $286,762
Liabilities
Mortgage Notes Payable Secured by Investment Property$988,000--
Accounts Payable and Accrued Expenses$47,771$62,566▲ $14,795
Deferred Revenue$10,108$6,825▼ $3,283
Total Liabilities$1,045,879$69,391▼ $976,488
Net Assets / Fund Balance
Unrestricted Net Assets$-305,842$383,884▲ $689,726
Total Net Assets Fund Balance$-305,842$383,884▲ $689,726
Total Liabilities and Net Assets / Fund Balance$740,037$453,275▼ $286,762

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$204$103,510$103,714
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleBaseTotal
Kelly CraftTreasurer$25,053$25,053

Board Members and Trustees

NameTitle
Scott KiserChair
Brandon LanierVice Chair
Cassandra DolberryDirector
Dorothy ArmstonDirector
Juliana HarrisDirector
Nicole FlanaryDirector
Rhonda MayerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$57,271
Program Service Revenue
$355,386
Investment Income
$862,709
Other Revenue
$0
All Other Contributions
$57,271
Change in Net Assets
$689,726
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$430,019
Other Expenses$155,621
Total Fundraising Expense$15,112
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$368,643$27,232-$395,875
Occupancy$61,313$6,128-$67,441
Payroll Taxes$26,903$2,031-$28,934
Insurance$20,726--$20,726
Depreciation Depletion$11,504--$11,504
Fees for Services Accounting-$5,246-$5,246
Pension Plan Contributions$4,836$374-$5,210
Other Expenses$386$2,317$15,112$386
Advertising-$13-$13
Total Functional Expenses$520,946$49,582$15,112$585,640
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
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
201 S BEECH ST, HOBGOOD, NC 27843

Signing Officer

Name
Kelly Craft
Title
Treasurer
Phone
2528264116
Signed
2018-08-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelly Craft
Voting Board Members
7
Independent Board Members
7
Employees
24
Volunteers
50

Preparer

Firm
Pate Horton & Ess Pa
Address
PO BOX 787, NASHVILLE, NC 27856
Preparer
David a Ess
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.”

Raw XML Appendix358 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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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.
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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/TotalAssetsBOYAmt0740037
IRS990/TotalAssetsEOYAmt0453275
IRS990/TotalAssetsGrp/BOYAmt0740037
IRS990/TotalAssetsGrp/EOYAmt0453275
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt057271
IRS990/TotalEmployeeCnt024
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt015112
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt049582
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0520946
IRS990/TotalFunctionalExpensesGrp/TotalAmt0585640
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01045879
IRS990/TotalLiabilitiesEOYAmt069391
IRS990/TotalLiabilitiesGrp/BOYAmt01045879
IRS990/TotalLiabilitiesGrp/EOYAmt069391
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-305842
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0383884
IRS990/TotalProgramServiceExpensesAmt0520946
IRS990/TotalProgramServiceRevenueAmt0355386
IRS990/TotalReportableCompFromOrgAmt025053
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01218095
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01275366
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0740037
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0453275
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-305842
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0383884
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0201 S BEECH ST
IRS990/USAddress/CityNm0HOBGOOD
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027843
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.HOBGOODACADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KELLY CRAFT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02528264116
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOBGOOD ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0HOBG
ReturnHeader/Filer/EIN0560940857
ReturnHeader/Filer/PhoneNum02528264116
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 S BEECH ST
ReturnHeader/Filer/USAddress/CityNm0HOBGOOD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027843
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0769D82F02C137C95B41B26C4BD53F9EB70389A81
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId03144950CCA81CF8D2D08E7E42ED3B1C0A6BCB2A0
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0208.180.147.182
ReturnHeader/FilingSecurityInformation/IPDt02018-08-16
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm015:18:08
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/PreparationDt02018-08-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A ESS
ReturnHeader/ReturnTs02018-08-16T16:18:08-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$453,275
Liabilities
$69,391
Net assets
$383,884
Revenue
$1,275,366
Expenses
$585,640
Net income
$689,726
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
2018Detailed filing. Detailed filing data is available for this year.$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