Civic Intelligence

Hobgood Academy Inc.

990 • Fiscal year 2019 • EIN 56-0940857

Jul 01, 2018 to Jun 30, 2019 • Filed on Aug 07, 2019

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

83rd percentile

0.18x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

84th percentile

0.11x

Higher debt load relative to revenue than 84% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

13th percentile

-27%

Higher net margin than 13% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

86th percentile

$26,053

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

14th percentile

-33%

Faster asset growth than 14% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

7th percentile

-61%

Faster revenue growth than 7% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$304,243

Down $149,032 (-33%) from 2018

Net Assets

Down

$248,322

Down $135,562 (-35%) from 2018

Liabilities

Down

$55,921

Down $13,470 (-19%) from 2018

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin13th percentile

Revenue

Down

$499,630

Down $775,736 (-61%) from 2018

Expenses

Up

$635,192

Up $49,552 (+8.5%) from 2018

Net Income

Down

-$135,562

Down $825,288 (-120%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2019

Assets$304,243
Liabilities$55,921
Net Assets$248,322
Open 2019 Filing

Operations Trend

Revenue Growth7th 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

2019

Revenue$499,630
Expenses$635,192
Net Income-$135,562
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Aug 7, 2019
Return Version
2018v3.1
Gross Receipts
$499,630
Mission and Program Overview

Mission

EDUCATIONAL INSTITUTION

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$403,541$268,717▼ $134,824
Accounts Receivable$32,603$29,107▼ $3,496
Other Notes and Loans Receivable, Net$10,000--
Prepaid Expenses and Deferred Charges$6,927$6,419▼ $508
Land, Buildings, and Equipment, Net$204--
Total Assets$453,275$304,243▼ $149,032
Liabilities
Accounts Payable and Accrued Expenses$62,566$55,921▼ $6,645
Deferred Revenue$6,825--
Total Liabilities$69,391$55,921▼ $13,470
Net Assets / Fund Balance
Unrestricted Net Assets$383,884$248,322▼ $135,562
Total Net Assets Fund Balance$383,884$248,322▼ $135,562
Total Liabilities and Net Assets / Fund Balance$453,275$304,243▼ $149,032

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$101,725$101,725
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleBaseTotal
Kelly CraftTreasurer$26,053$26,053

Board Members and Trustees

NameTitle
Scott KiserChair
Brandon LanierVice Chair
Cassandra DolberryDirector
Dorothy ArmstonDirector
Katelyn EdmondsonDirector
Rhonda MayerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$58,175
Program Service Revenue
$440,741
Investment Income
$714
Other Revenue
$0
All Other Contributions
$58,175
Change in Net Assets
$-135,562
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$444,519
Other Expenses$190,673
Total Fundraising Expense$18,613
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$382,887$26,053-$408,940
Occupancy$78,176$5,229-$83,405
Fees for Services Other$31,990--$31,990
Payroll Taxes$28,443$1,888-$30,331
Insurance$21,057--$21,057
Pension Plan Contributions$4,914$334-$5,248
Fees for Services Accounting-$4,763-$4,763
Other Expenses$22,662$1,240$18,613$1,240
Advertising-$204-$204
Depreciation Depletion$203--$203
Total Functional Expenses$570,332$46,247$18,613$635,192
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
2019-08-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelly Craft
Voting Board Members
7
Independent Board Members
7
Employees
26
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

“The school is exempt from income tax under irc section 501(c)(3), though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the code. The school has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which it has nexus; and to identify and evaluate other matters that may be considered tax positions. The school has determined there are no material uncertain tax positions that require recognition or disclosure in the financial statements.”

Raw XML Appendix340 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/ExplanationTxt0THE SCHOOL IS EXEMPT FROM INCOME TAX UNDER IRC SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE SCHOOL HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE SCHOOL HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
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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.
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalContributionsAmt058175
IRS990/TotalEmployeeCnt026
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt046247
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0570332
IRS990/TotalFunctionalExpensesGrp/TotalAmt0635192
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0499630
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0304243
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0383884
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ReturnHeader/BuildTS02020-03-31 21:24:44Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0KELLY CRAFT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02528264116
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-08-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOBGOOD ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0HOBG
ReturnHeader/Filer/EIN0560940857
ReturnHeader/Filer/PhoneNum02528264116
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0208.180.147.182
ReturnHeader/FilingSecurityInformation/IPDt02019-08-20
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm006:45:00
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/PreparationDt02019-08-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A ESS
ReturnHeader/ReturnTs02019-08-20T06:45:00-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$304,243
Liabilities
$55,921
Net assets
$248,322
Revenue
$499,630
Expenses
$635,192
Net income
-$135,562
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
2019Detailed filing. Detailed filing data is available for this year.$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

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • <$500k nonprofits