Civic Intelligence

Fayetteville Academy

990 • Fiscal year 2014 • EIN 56-0944004

Jul 01, 2013 to Jun 30, 2014 • Filed on Oct 30, 2014

Organization ProfileWWW.FAYETTEVILLEACADEMY.COM

View Organization Page

3200 Cliffdale Road28303

(910) 868-5131

Siviq Scores

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

Liabilities / Assets

57th percentile

0.21x

Higher debt load relative to assets than 57% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

65th percentile

0.19x

Higher debt load relative to revenue than 65% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Net Margin

33rd percentile

-0.4%

Higher net margin than 33% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

86th percentile

$176,449

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Asset Growth

24th percentile

-3.0%

Faster asset growth than 24% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$4,263,512

Down $130,217 (-3.0%) from 2013

Net Assets

Up

$3,367,290

Up $24,503 (+0.7%) from 2013

Liabilities

Down

$896,222

Down $154,720 (-15%) from 2013

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin33rd percentile

Revenue

$4,794,863

No earlier filing loaded for comparison.

Expenses

Up

$4,813,501

Up $181,997 (+3.9%) from 2013

Net Income

-$18,638

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $4,606,971Liabilities 2011: $1,327,793Net Assets 2011: $3,279,1782011Assets 2012: $4,376,083Liabilities 2012: $1,256,264Net Assets 2012: $3,119,8192012Assets 2013: $4,393,729Liabilities 2013: $1,050,942Net Assets 2013: $3,342,7872013Assets 2014: $4,263,512Liabilities 2014: $896,222Net Assets 2014: $3,367,2902014Assets 2015: $4,114,808Liabilities 2015: $764,981Net Assets 2015: $3,349,8272015Assets 2016: $4,422,578Liabilities 2016: $903,246Net Assets 2016: $3,519,3322016Assets 2017: $4,920,720Liabilities 2017: $884,819Net Assets 2017: $4,035,9012017Assets 2018: $5,054,437Liabilities 2018: $976,346Net Assets 2018: $4,078,0912018Assets 2019: $5,117,796Liabilities 2019: $954,245Net Assets 2019: $4,163,5512019Assets 2020: $5,641,362Liabilities 2020: $1,629,722Net Assets 2020: $4,011,6402020Assets 2021: $6,677,231Liabilities 2021: $2,539,480Net Assets 2021: $4,137,7512021Assets 2022: $6,108,827Liabilities 2022: $1,674,364Net Assets 2022: $4,434,4632022Assets 2023: $6,649,516Liabilities 2023: $1,756,828Net Assets 2023: $4,892,6882023Assets 2024: $6,978,281Liabilities 2024: $1,717,959Net Assets 2024: $5,260,3222024Assets 2025: $7,385,701Liabilities 2025: $1,742,698Net Assets 2025: $5,643,0032025

Highlighted filing

2014

Assets$4,263,512
Liabilities$896,222
Net Assets$3,367,290
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $4,917,7582011Expenses 2012: $4,820,3552012Expenses 2013: $4,631,5042013Revenue 2014: $4,794,863Expenses 2014: $4,813,501Net Income 2014: -$18,6382014Revenue 2015: $4,845,345Expenses 2015: $4,845,395Net Income 2015: -$502015Revenue 2016: $4,998,095Expenses 2016: $4,790,455Net Income 2016: $207,6402016Revenue 2017: $5,350,200Expenses 2017: $4,878,200Net Income 2017: $472,0002017Revenue 2018: $5,369,449Expenses 2018: $5,349,626Net Income 2018: $19,8232018Revenue 2019: $5,747,952Expenses 2019: $5,634,414Net Income 2019: $113,5382019Revenue 2020: $5,577,817Expenses 2020: $5,720,012Net Income 2020: -$142,1952020Revenue 2021: $5,986,071Expenses 2021: $5,991,700Net Income 2021: -$5,6292021Revenue 2022: $6,525,555Expenses 2022: $6,031,294Net Income 2022: $494,2612022Revenue 2023: $6,652,904Expenses 2023: $6,239,539Net Income 2023: $413,3652023Revenue 2024: $7,146,572Expenses 2024: $6,840,534Net Income 2024: $306,0382024Revenue 2025: $7,205,106Expenses 2025: $6,881,049Net Income 2025: $324,0572025

Highlighted filing

2014

Revenue$4,794,863
Expenses$4,813,501
Net Income-$18,638
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Oct 30, 2014
Return Version
2013v3.1
Gross Receipts
$4,794,863
Mission and Program Overview

Mission

Fayetteville academy is an independent, college preparatory school (prek- 12) that encourages students to achieve their full potential by offering exceptional opportunities in academics, fine arts, and athletics. The academy emphasizes scholarship, honor, leadership, and citizenship in a safe and inclusive environment. The academy is proud to be ranked the number one private school in the fayetteville area and among the top 20 best private schools in north carolina by niche.com.

Fayetteville academy (the academy) is a private educational institution located in fayetteville, north carolina and incorporated under north carolina law as a non-stock charitable organization. The academy provides educational services to students in grades pre-kindergarten through twelve residing in cumberland, harnett, hoke, lee, moore, robeson and sampson counties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,679,412$3,538,664▼ $140,748
Investments in Publicly Traded Securities$373,989$411,281▲ $37,292
Cash and Non-Interest-Bearing Accounts$150,251$173,059▲ $22,808
Accounts Receivable$81,543$51,650▼ $29,893
Prepaid Expenses and Deferred Charges$46,197$49,250▲ $3,053
Pledges and Grants Receivable$21,950--
Total Assets$4,393,729$4,263,512▼ $130,217
Other Assets Total$40,387$39,608▼ $779
Liabilities
Accounts Payable and Accrued Expenses$453,890$382,911▼ $70,979
Deferred Revenue$380,123$294,900▼ $85,223
Other Liabilities$216,929$218,411▲ $1,482
Total Liabilities$1,050,942$896,222▼ $154,720
Net Assets / Fund Balance
Unrestricted Net Assets$2,888,431$2,850,262▼ $38,169
Permanently Rstr Net Assets$306,343$338,406▲ $32,063
Temporarily Rstr Net Assets$148,013$178,622▲ $30,609
Total Net Assets Fund Balance$3,342,787$3,367,290▲ $24,503
Total Liabilities and Net Assets / Fund Balance$4,393,729$4,263,512▼ $130,217

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,242,452$4,202,198-
Other Land Buildings$226,269--
Land$115,048--
Equipment$954,895--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$403,573-▲ $56,933$14,730$440,865
2012$335,770$29,734▲ $42,544-$403,573
2011$339,065$650▲ $229-$335,770
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ray QuesnelHead of SchoFT$148,154$28,295$176,449
Ray QuesnelHead of School-$147,900$28,549$176,449

Board Members and Trustees

NameTitle
Jim KeenerChairperson
Ryan AulVice Chairma
Allen WillisTrustee
Bill JordanTrustee
Chris NealTrustee
Howard AllenTrustee
Jim MergyTrustee
John WyattTrustee
Kimberly PryzgodaTrustee
Maria MillerTrustee
Maureen McneillTrustee
Meredith WilesTrustee
Neill LeggTrustee
Prabha SinghTrustee
Thomas MillerTrustee
Tracy BillupsTrustee
Dick GillMember at La
Ruby BullardSecretary
Angela PackerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$244,502
Program Service Revenue
$4,531,239
Investment Income
$13,258
Other Revenue
$5,864
All Other Contributions
$244,502
Change in Net Assets
$-18,638

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,794,863
Total Revenue per Audited Statements
$4,794,863
Total Revenue per Form 990
$4,794,863
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,473,950
Other Expenses$1,339,551
Total Fundraising Expense$213,111
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,137,870$570,099$142,525$2,850,494
All Other Expenses$353,038$41,487$31,760$426,285
Other Employee Benefits$194,297$51,812$12,953$259,062
Depreciation Depletion$244,734--$244,734
Payroll Taxes$158,003$42,134$10,534$210,671
Pension Plan Contributions$115,292$30,744$7,687$153,723
Insurance$106,843--$106,843
Other Expenses$68,131$17,033-$85,164
Advertising$40,620--$40,620
Information Technology$31,319$7,829-$39,148
Office Expenses-$6,260$7,652$13,912
Fees for Services Accounting-$9,059-$9,059
Interest-$750-$750
Total Functional Expenses$3,794,435$805,955$213,111$4,813,501

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,813,501
Total Expenses per Audited Statements$4,813,501
Total Expenses per Form 990$4,813,501
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-TrusteeSecurity ServicesNo$20,419
-TrusteeGasolineNo$15,914
-TrusteeTechnologyNo$15,825
-TrusteeMarketing ItemsNo$2,177
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits Held for Agencies$118,411
Credit Line Payable$100,000
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 family members
No
Business relationship with organization members
Yes
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, Page 6, Part VI, Line 11B

“After review and approval of the 990 by the academy's finance committee, the full board reviews the 990 prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Annual disclosure of conflicts of interests.”

Form 990, Page 6, Part VI, Line 15A

“The head of school's compensation is reviewed annually by the finance committee; recommendations are made by this committee to the board who approves the complete compensation package.”

Form 990, Page 6, Part VI, Line 15B

“Compensation of key employees is reviewed annually by the finance committee; recommendations are made by this committee to the board who approves the compensation package.”

Form 990, Page 6, Part VI, Line 19

“Governing documents will be provided upon request.”

Filing and Contact Details

Filer

EIN
56-0944004
Phone
9108685131

Signing Officer

Name
Jim Keener
Title
Chairman
Phone
9108685131
Signed
2014-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ray Quesnel
Formed
1969
Legal Domicile
Nc
Voting Board Members
19
Independent Board Members
19
Employees
119
Volunteers
30

Preparer

Preparer
Larry L Bass
Phone
9104840145
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Fayetteville academy (the academy) is a private educational institution located in fayetteville, north carolina and incorporated under north carolina law as a non-stock charitable organization. The academy provides educational services to students in grades pre-kindergarten through twelve residing in cumberland, harnett, hoke, lee, moore, robeson and sampson counties.”

Form 990, Page 1, Part I, Line 6

“Support of activities for students, teachers and staff of the academy.”

Form 990, Page 2, Part III, Line 4D

“Fayetteville academy (the academy) is a private educational institution located in fayetteville, north carolina and incorporated under north carolina law as a non-stock charitable organization. The academy provides educational services to students in grades pre-kindergarten through twelve residing in cumberland, harnett, hoke, lee, moore, robeson and sampson counties.”

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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,263,512
Liabilities
$896,222
Net assets
$3,367,290
Revenue
$4,794,863
Expenses
$4,813,501
Net income
-$18,638
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.39$1.74$5.64$7.21$6.88$0.32
2024Detailed filing. Detailed filing data is available for this year.$6.98$1.72$5.26$7.15$6.84$0.31
2023Detailed filing. Detailed filing data is available for this year.$6.65$1.76$4.89$6.65$6.24$0.41
2022Detailed filing. Detailed filing data is available for this year.$6.11$1.67$4.43$6.53$6.03$0.49
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.68$2.54$4.14$5.99$5.99$0.01
2020Detailed filing. Detailed filing data is available for this year.$5.64$1.63$4.01$5.58$5.72$0.14
2019Detailed filing. Detailed filing data is available for this year.$5.12$0.95$4.16$5.75$5.63$0.11
2018Detailed filing. Detailed filing data is available for this year.$5.05$0.98$4.08$5.37$5.35$0.02
2017Detailed filing. Detailed filing data is available for this year.$4.92$0.88$4.04$5.35$4.88$0.47
2016Detailed filing. Detailed filing data is available for this year.$4.42$0.90$3.52$5.00$4.79$0.21
2015Detailed filing. Detailed filing data is available for this year.$4.11$0.76$3.35$4.85$4.85$0.00
2014Detailed filing. Detailed filing data is available for this year.$4.26$0.90$3.37$4.79$4.81$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.39$1.05$3.34$4.63
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.38$1.26$3.12$4.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.61$1.33$3.28$4.92
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • $1M-$5M nonprofits