Civic Intelligence

Southeastern Academy Inc.

990 • Fiscal year 2015 • EIN 56-1712586

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 15, 2016

Organization ProfileWWW.SOUTHEASTERNACADEMY.ORG
12251 NC Highway 41 NorthLumberton, NC 28358

(910) 738-7828

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.01x

Higher debt load relative to assets than 93% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

81st percentile

0.53x

Higher debt load relative to revenue than 81% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Net Margin

70th percentile

11%

Higher net margin than 70% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

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

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Asset Growth

83rd percentile

38%

Faster asset growth than 83% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

78th percentile

26%

Faster revenue growth than 78% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$845,075

Up $231,310 (+38%) from 2014

Net Assets

Up

-$11,124

Up $219,074 (+95%) from 2014

Liabilities

Up

$856,199

Up $12,236 (+1.4%) from 2014

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin70th percentile

Revenue

Up

$1,611,860

Up $333,234 (+26%) from 2014

Expenses

Up

$1,432,891

Up $191,644 (+15%) from 2014

Net Income

Up

$178,969

Up $141,590 (+379%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $687,600Liabilities 2010: $759,227Net Assets 2010: -$71,6272010Assets 2011: $644,468Liabilities 2011: $753,345Net Assets 2011: -$108,8772011Assets 2012: $620,736Liabilities 2012: $752,905Net Assets 2012: -$132,1692012Assets 2013: $540,671Liabilities 2013: $775,555Net Assets 2013: -$234,8842013Assets 2014: $613,765Liabilities 2014: $843,963Net Assets 2014: -$230,1982014Assets 2015: $845,075Liabilities 2015: $856,199Net Assets 2015: -$11,1242015Assets 2016: $1,204,387Liabilities 2016: $1,031,948Net Assets 2016: $172,4392016Assets 2017: $1,454,236Liabilities 2017: $1,287,093Net Assets 2017: $167,1432017Assets 2018: $1,387,130Liabilities 2018: $1,258,832Net Assets 2018: $128,2982018Assets 2019: $1,441,808Liabilities 2019: $1,388,129Net Assets 2019: $53,6792019Assets 2020: $1,604,638Liabilities 2020: $1,678,266Net Assets 2020: -$73,6282020Assets 2021: $1,567,940Liabilities 2021: $1,585,459Net Assets 2021: -$17,5192021Assets 2022: $1,608,552Liabilities 2022: $1,461,672Net Assets 2022: $146,8802022Assets 2023: $1,996,731Liabilities 2023: $1,792,983Net Assets 2023: $203,7482023Assets 2024: $2,125,939Liabilities 2024: $1,801,722Net Assets 2024: $324,2172024Assets 2025: $2,139,532Liabilities 2025: $1,669,212Net Assets 2025: $470,3202025

Highlighted filing

2015

Assets$845,075
Liabilities$856,199
Net Assets-$11,124
Open 2015 Filing

Operations Trend

Revenue Growth78th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $564,964Expenses 2010: $573,545Net Income 2010: -$8,5812010Revenue 2011: $491,591Expenses 2011: $528,841Net Income 2011: -$37,2502011Revenue 2012: $498,769Expenses 2012: $522,061Net Income 2012: -$23,2922012Revenue 2013: $453,796Expenses 2013: $556,511Net Income 2013: -$102,7152013Revenue 2014: $1,278,626Expenses 2014: $1,241,247Net Income 2014: $37,3792014Revenue 2015: $1,611,860Expenses 2015: $1,432,891Net Income 2015: $178,9692015Revenue 2016: $1,611,430Expenses 2016: $1,427,867Net Income 2016: $183,5632016Revenue 2017: $1,574,614Expenses 2017: $1,579,910Net Income 2017: -$5,2962017Revenue 2018: $1,745,129Expenses 2018: $1,783,974Net Income 2018: -$38,8452018Revenue 2019: $1,820,981Expenses 2019: $1,895,600Net Income 2019: -$74,6192019Revenue 2020: $1,812,171Expenses 2020: $1,939,478Net Income 2020: -$127,3072020Revenue 2021: $2,141,762Expenses 2021: $2,085,653Net Income 2021: $56,1092021Revenue 2022: $2,033,569Expenses 2022: $1,869,170Net Income 2022: $164,3992022Revenue 2023: $2,176,283Expenses 2023: $2,119,415Net Income 2023: $56,8682023Revenue 2024: $2,240,081Expenses 2024: $2,119,612Net Income 2024: $120,4692024Revenue 2025: $2,550,562Expenses 2025: $2,404,459Net Income 2025: $146,1032025

Highlighted filing

2015

Revenue$1,611,860
Expenses$1,432,891
Net Income$178,969
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 15, 2016
Return Version
2014v6.0
Gross Receipts
$1,611,860
Mission and Program Overview

Mission

Southeastern academy, inc operates a charter school serving students from kindergarten through the 8th grade. The academy converted from a private school to a charter school under the authority of the north carolina state board of education. The academy mission is to maintain high expectations and promote excellence, especially in the fields of math and science for all students, while fostering a caring and creative learning environment. The academy emphasizes the social, emotional, physical, and intellectual development of each child.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$548,182$571,762▲ $23,580
Cash and Non-Interest-Bearing Accounts$61,653$191,432▲ $129,779
Prepaid Expenses and Deferred Charges-$81,881-
Accounts Receivable$3,930--
Total Assets$613,765$845,075▲ $231,310
Liabilities
Unsecured Notes Loans Payable$821,867$836,980▲ $15,113
Accounts Payable and Accrued Expenses$22,094$19,219▼ $2,875
Total Liabilities$843,961$856,199▲ $12,238
Net Assets / Fund Balance
Unrestricted Net Assets$-230,196$-11,124▲ $219,072
Total Net Assets Fund Balance$-230,196$-11,124▲ $219,072
Total Liabilities and Net Assets / Fund Balance$613,765$845,075▲ $231,310

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$475,381$425,624$901,005
Land$9,518-$9,518
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Alvin IveyChairman
Brian EnglishMember
Caroline JolicoeurMember
David AllenMember
Jay BrittMember
Sara BensonMember
Tim LocklearMember
Lori BlackleySecretary
Jerry LongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,611,860
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$373,783
Change in Net Assets
$178,969
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$950,362
Other Expenses$482,529
Total Fundraising Expense$42,960
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$506,879$167,501-$674,380
Other Employee Benefits$113,642$39,881-$153,523
Pension Plan Contributions$99,182$23,277-$122,459
Fees for Services Other$6,263$72,515-$78,778
Depreciation Depletion$42,322--$42,322
Office Expenses-$39,129-$39,129
All Other Expenses$28,808$8,855-$37,663
Interest$35,619--$35,619
Other Expenses$16,799$3,221$42,960$16,799
Insurance-$15,024-$15,024
Travel$9,125--$9,125
Advertising$1,507--$1,507
Total Functional Expenses$1,020,528$369,403$42,960$1,432,891
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
No
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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Southeastern Academy Inc
EIN
56-1712586
Phone
9107387828
Address
12251 NC HIGHWAY 41 NORTH, LUMBERTON, NC 28358

Signing Officer

Name
Alvin Ivey
Title
Chairman
Phone
9107387828
Signed
2016-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alvin Ivey
Formed
1990
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
25

Preparer

Firm
S Preston Douglas & Associates Llp
Address
PO BOX 2339, LUMBERTON, NC 28359-2339
Preparer
Culbert M Mclean Jr
Phone
9107397523
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Southeastern academy, inc operates a charter school serving students from kindergarten through the 8th grade. The academy converted from a private school to a charter school under the authority of the north carolina state board of education. The academy mission is to maintain high expectations and promote excellence, especially in the fields of math and science for all students, while fostering a caring and creative learning environment. The academy emphasizes the social, emotional, physical, and intellectual development of each child.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOUTHEASTERN ACADEMY, INC OPERATES A CHARTER SCHOOL SERVING STUDENTS FROM KINDERGARTEN THROUGH THE 8TH GRADE. THE ACADEMY CONVERTED FROM A PRIVATE SCHOOL TO A CHARTER SCHOOL UNDER THE AUTHORITY OF THE NORTH CAROLINA STATE BOARD OF EDUCATION. THE ACADEMY MISSION IS TO MAINTAIN HIGH EXPECTATIONS AND PROMOTE EXCELLENCE, ESPECIALLY IN THE FIELDS OF MATH AND SCIENCE FOR ALL STUDENTS, WHILE FOSTERING A CARING AND CREATIVE LEARNING ENVIRONMENT. THE ACADEMY EMPHASIZES THE SOCIAL, EMOTIONAL, PHYSICAL, AND INTELLECTUAL DEVELOPMENT OF EACH CHILD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0613765
IRS990/TotalAssetsEOYAmt0845075
IRS990/TotalAssetsGrp/BOYAmt0613765
IRS990/TotalAssetsGrp/EOYAmt0845075
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IRS990/TotalContributionsAmt01611860
IRS990/TotalEmployeeCnt025
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt042960
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0369403
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01020528
IRS990/TotalFunctionalExpensesGrp/TotalAmt01432891
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0843961
IRS990/TotalLiabilitiesEOYAmt0856199
IRS990/TotalLiabilitiesGrp/BOYAmt0843961
IRS990/TotalLiabilitiesGrp/EOYAmt0856199
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-230196
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-11124
IRS990/TotalProgramServiceExpensesAmt01020528
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01611860
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0613765
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0845075
IRS990/TravelGrp/ProgramServicesAmt09125
IRS990/TravelGrp/TotalAmt09125
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-230196
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-11124
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0821867
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0836980
IRS990/USAddress/AddressLine1Txt0510 BROOKGREEN DRIVE
IRS990/USAddress/CityNm0LUMBERTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028358
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.SOUTHEASTERNACADEMY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ALVIN IVEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum09107387828
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-02-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTHEASTERN ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0561712586
ReturnHeader/Filer/PhoneNum09107387828
ReturnHeader/Filer/USAddress/AddressLine1Txt012251 NC HIGHWAY 41 NORTH
ReturnHeader/Filer/USAddress/CityNm0LUMBERTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028358
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560731535
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0S PRESTON DOUGLAS & ASSOCIATES LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 2339
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LUMBERTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0283592339
ReturnHeader/PreparerPersonGrp/PhoneNum09107397523
ReturnHeader/PreparerPersonGrp/PreparationDt02016-02-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CULBERT M MCLEAN JR
ReturnHeader/ReturnTs02016-02-15T16:44:03-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$845,075
Liabilities
$856,199
Net assets
-$11,124
Revenue
$1,611,860
Expenses
$1,432,891
Net income
$178,969
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.14$1.67$0.47$2.55$2.40$0.15
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.13$1.80$0.32$2.24$2.12$0.12
2023Detailed filing. Detailed filing data is available for this year.$2.00$1.79$0.20$2.18$2.12$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.61$1.46$0.15$2.03$1.87$0.16
2021Detailed filing. Detailed filing data is available for this year.$1.57$1.59$0.02$2.14$2.09$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.60$1.68$0.07$1.81$1.94$0.13
2019Detailed filing. Detailed filing data is available for this year.$1.44$1.39$0.05$1.82$1.90$0.07
2018Detailed filing. Detailed filing data is available for this year.$1.39$1.26$0.13$1.75$1.78$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.45$1.29$0.17$1.57$1.58$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$1.03$0.17$1.61$1.43$0.18
2015Detailed filing. Detailed filing data is available for this year.$0.85$0.86$0.01$1.61$1.43$0.18
2014Detailed filing. Detailed filing data is available for this year.$0.61$0.84$0.23$1.28$1.24$0.04
2013Summary only. Only limited summary data is available for this year.$0.54$0.78$0.23$0.45$0.56$0.10
2012Summary only. Only limited summary data is available for this year.$0.62$0.75$0.13$0.50$0.52$0.02
2011Summary only. Only limited summary data is available for this year.$0.64$0.75$0.11$0.49$0.53$0.04
2010Summary only. Only limited summary data is available for this year.$0.69$0.76$0.07$0.56$0.57$0.01