Civic Intelligence

Southeastern Academy Inc.

990 • Fiscal year 2017 • EIN 56-1712586

Jul 01, 2016 to Jun 30, 2017 • Filed on Oct 23, 2017

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

90th percentile

0.89x

Higher debt load relative to assets than 90% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

88th percentile

0.82x

Higher debt load relative to revenue than 88% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Net Margin

31st percentile

-0.3%

Higher net margin than 31% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Asset Growth

77th percentile

21%

Faster asset growth than 77% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

29th percentile

-2.3%

Faster revenue growth than 29% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$1,454,236

Up $249,849 (+21%) from 2016

Net Assets

Down

$167,143

Down $5,296 (-3.1%) from 2016

Liabilities

Up

$1,287,093

Up $255,145 (+25%) from 2016

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin31st percentile

Revenue

Down

$1,574,614

Down $36,816 (-2.3%) from 2016

Expenses

Up

$1,579,910

Up $152,043 (+11%) from 2016

Net Income

Down

-$5,296

Down $188,859 (-103%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth77th 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

2017

Assets$1,454,236
Liabilities$1,287,093
Net Assets$167,143
Open 2017 Filing

Operations Trend

Revenue Growth29th 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

2017

Revenue$1,574,614
Expenses$1,579,910
Net Income-$5,296
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Oct 23, 2017
Return Version
2016v3.0
Gross Receipts
$1,574,614
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
Prepaid Expenses and Deferred Charges$313,605$507,961▲ $194,356
Land, Buildings, and Equipment, Net$523,804$494,031▼ $29,773
Cash and Non-Interest-Bearing Accounts$366,978$415,717▲ $48,739
Pledges and Grants Receivable-$36,527-
Total Assets$1,204,387$1,454,236▲ $249,849
Liabilities
Other Liabilities$1,028,336$1,284,258▲ $255,922
Accounts Payable and Accrued Expenses$3,612$2,835▼ $777
Total Liabilities$1,031,948$1,287,093▲ $255,145
Net Assets / Fund Balance
Unrestricted Net Assets$172,439$167,143▼ $5,296
Total Net Assets Fund Balance$172,439$167,143▼ $5,296
Total Liabilities and Net Assets / Fund Balance$1,204,387$1,454,236▲ $249,849

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$424,755$476,250-
Other Land Buildings-$27,280-
Land$14,338--
Equipment$59,758$81,264-
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Alvin IveyChairman / D
Alex CollinsDirector
Brian EnglishDirector
Caroline JolicoeurDirector
Dr Lori BlackleyDirector
Gwendolyn Roberts PayneDirector
Jay BrittDirector
Tim LocklearDirector
Shelly FoilSecretary /d
Tami GeorgeTreasurer /
Revenue and Support

Revenue Composition

Contributions and Grants
$1,534,200
Program Service Revenue
$40,394
Investment Income
$20
Other Revenue
$0
All Other Contributions
$39,797
Change in Net Assets
$-5,296
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,178,802
Other Expenses$401,108
Total Fundraising Expense$6,861
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$801,696--$801,696
Pension Plan Contributions$200,873--$200,873
Other Employee Benefits$104,249--$104,249
Occupancy$91,510--$91,510
Payroll Taxes$71,984--$71,984
All Other Expenses$47,792-$6,861$54,653
Interest$32,890--$32,890
Fees for Services Accounting$18,000$7,000-$25,000
Office Expenses$23,093--$23,093
Other Expenses$12,240--$12,240
Insurance$12,052--$12,052
Fees for Services Legal-$342-$342
Total Functional Expenses$1,565,707$7,342$6,861$1,579,910
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Notes Payable Long Term$732,048
Net Pension Liability$495,397
Deferred Inflows of Resources$36,582
Notes Payable Current Portion$20,231
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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

“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 / Director
Phone
9107387828
Signed
2017-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alvin Ivey
Formed
1990
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
45

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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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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IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0424755
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0476250
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0901005
IRS990ScheduleD/EquipmentGrp/BookValueAmt059758
IRS990ScheduleD/EquipmentGrp/DepreciationAmt081264
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0141022
IRS990ScheduleD/LandGrp/BookValueAmt014338
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt014338
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt027280
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt027280
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0732048
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1495397
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt236582
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt320231
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE LONG TERM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NOTES PAYABLE CURRENT PORTION
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0498851
IRS990ScheduleD/TotalLiabilityAmt01284258
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
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/TotalAssetsBOYAmt01204387
IRS990/TotalAssetsEOYAmt01454236
IRS990/TotalAssetsGrp/BOYAmt01204387
IRS990/TotalAssetsGrp/EOYAmt01454236
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01534200
IRS990/TotalEmployeeCnt045
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06861
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07342
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01565707
IRS990/TotalFunctionalExpensesGrp/TotalAmt01579910
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01031948
IRS990/TotalLiabilitiesEOYAmt01287093
IRS990/TotalLiabilitiesGrp/BOYAmt01031948
IRS990/TotalLiabilitiesGrp/EOYAmt01287093
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0172439
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0167143
IRS990/TotalProgramServiceExpensesAmt01565707
IRS990/TotalProgramServiceRevenueAmt040394
IRS990/TotalRevenueGrp/ExclusionAmt040414
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01574614
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01204387
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01454236
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0172439
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0167143
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0510 BROOKGREEN DR
IRS990/USAddress/CityNm0LUMBERTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028358
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.SOUTHEASTERNACADEMY.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ALVIN IVEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN / DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09107387828
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-10-23
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/FilingSecurityInformation/AtSubmissionCreationDeviceId05D0280A0F7BC3FECD0BDDAC7B68987F93B77BE44
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00B47D4F5B49414E84AE24D655580519AAC2AB51E
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/PreparationDt02017-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CULBERT M MCLEAN JR
ReturnHeader/ReturnTs02017-11-15T08:42:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,454,236
Liabilities
$1,287,093
Net assets
$167,143
Revenue
$1,574,614
Expenses
$1,579,910
Net income
-$5,296
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