Civic Intelligence

Southeastern Academy Inc.

990 • Fiscal year 2018 • EIN 56-1712586

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 12, 2018

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

89th percentile

0.91x

Higher debt load relative to assets than 89% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

85th percentile

0.72x

Higher debt load relative to revenue than 85% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Net Margin

26th percentile

-2.2%

Higher net margin than 26% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Asset Growth

24th percentile

-4.6%

Faster asset growth than 24% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

62nd percentile

11%

Faster revenue growth than 62% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$1,387,130

Down $67,106 (-4.6%) from 2017

Net Assets

Down

$128,298

Down $38,845 (-23%) from 2017

Liabilities

Down

$1,258,832

Down $28,261 (-2.2%) from 2017

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin26th percentile

Revenue

Up

$1,745,129

Up $170,515 (+11%) from 2017

Expenses

Up

$1,783,974

Up $204,064 (+13%) from 2017

Net Income

Down

-$38,845

Down $33,549 (-633%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth24th 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

2018

Assets$1,387,130
Liabilities$1,258,832
Net Assets$128,298
Open 2018 Filing

Operations Trend

Revenue Growth62nd 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

2018

Revenue$1,745,129
Expenses$1,783,974
Net Income-$38,845
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 12, 2018
Return Version
2017v2.3
Gross Receipts
$1,745,129
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$494,031$449,263▼ $44,768
Cash and Non-Interest-Bearing Accounts$415,717$446,518▲ $30,801
Prepaid Expenses and Deferred Charges$507,961$381,107▼ $126,854
Savings and Temporary Cash Investments-$90,213-
Pledges and Grants Receivable$36,527$20,029▼ $16,498
Total Assets$1,454,236$1,387,130▼ $67,106
Liabilities
Other Liabilities$1,284,258$1,256,028▼ $28,230
Accounts Payable and Accrued Expenses$2,835$2,804▼ $31
Total Liabilities$1,287,093$1,258,832▼ $28,261
Net Assets / Fund Balance
Unrestricted Net Assets$167,143$128,298▼ $38,845
Total Net Assets Fund Balance$167,143$128,298▼ $38,845
Total Liabilities and Net Assets / Fund Balance$1,454,236$1,387,130▼ $67,106

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$402,581$498,424-
Other Land Buildings-$27,280-
Land$14,338--
Equipment$37,164$103,858-
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Dr Lori BlackleyChairman / D
Alex CollinsDirector
Eric WestDirector
Greg CaulderDirector
Gwendolyn Roberts PayneDirector
Jay BrittDirector
Scott McleanDirector
Shelly FoilSecretary /d
Tami GeorgeTreasurer /
Revenue and Support

Revenue Composition

Contributions and Grants
$1,703,653
Program Service Revenue
$41,459
Investment Income
$17
Other Revenue
$0
All Other Contributions
$89,051
Change in Net Assets
$-38,845
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,308,895
Other Expenses$475,079
Total Fundraising Expense$16,655
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$874,306--$874,306
Pension Plan Contributions$249,065--$249,065
Other Employee Benefits$121,661--$121,661
Occupancy$111,274--$111,274
All Other Expenses$64,084--$64,084
Payroll Taxes$63,863--$63,863
Interest$31,731--$31,731
Fees for Services Accounting$26,021--$26,021
Other Expenses$26,948-$16,655$16,655
Office Expenses$16,573--$16,573
Insurance$13,261--$13,261
Total Functional Expenses$1,767,319$0$16,655$1,783,974
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$716,849
Net Pension Liability$498,283
Deferred Inflows of Resources$25,697
Notes Payable Current Portion$15,199
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
Dr Lori Blackley
Title
Chairman / Director
Phone
9107387828
Signed
2018-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Lori Blackley
Formed
1990
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
42
Volunteers
35

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.”

Form 990, Page 1, Part I, Line 6

“Help with fund raising,student activities and various other student and teacher support functions.”

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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/ReconcilationRevenueExpnssAmt0-38845
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/EOYAmt090213
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0498424
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0901005
IRS990ScheduleD/EquipmentGrp/BookValueAmt037164
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0103858
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0141022
IRS990ScheduleD/LandGrp/BookValueAmt014338
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt014338
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt027280
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt027280
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0716849
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1498283
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt225697
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt315199
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE LONG TERM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NOTES PAYABLE CURRENT PORTION
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0454083
IRS990ScheduleD/TotalLiabilityAmt01256028
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/ExplanationTxt1HELP WITH FUND RAISING,STUDENT ACTIVITIES AND VARIOUS OTHER STUDENT AND TEACHER SUPPORT FUNCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01387130
IRS990/TotalAssetsGrp/BOYAmt01454236
IRS990/TotalAssetsGrp/EOYAmt01387130
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01703653
IRS990/TotalEmployeeCnt042
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt016655
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01767319
IRS990/TotalFunctionalExpensesGrp/TotalAmt01783974
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01287093
IRS990/TotalLiabilitiesEOYAmt01258832
IRS990/TotalLiabilitiesGrp/BOYAmt01287093
IRS990/TotalLiabilitiesGrp/EOYAmt01258832
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0167143
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IRS990/TotalProgramServiceExpensesAmt01767319
IRS990/TotalProgramServiceRevenueAmt041459
IRS990/TotalRevenueGrp/ExclusionAmt041476
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01745129
IRS990/TotalVolunteersCnt035
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01454236
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01387130
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0167143
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0128298
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04911 WHITE OAK
IRS990/USAddress/CityNm0LUMBERTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028358
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.SOUTHEASTERNACADEMY.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DR LORI BLACKLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN / DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09107387828
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-12
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
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId03B1D31E76CD1C70699A781690D44F456F7344810
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId01AD1FA0F6F38F4B6A63727EE2603EA0DA82E57D9
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-11-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm012:00:47
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/PreparationDt02018-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CULBERT M MCLEAN JR
ReturnHeader/ReturnTs02018-11-14T13:00:47-05:00
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
$1,387,130
Liabilities
$1,258,832
Net assets
$128,298
Revenue
$1,745,129
Expenses
$1,783,974
Net income
-$38,845
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