Civic Intelligence

Southeastern Academy Inc.

990 • Fiscal year 2019 • EIN 56-1712586

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 09, 2019

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

91st percentile

0.96x

Higher debt load relative to assets than 91% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

86th percentile

0.76x

Higher debt load relative to revenue than 86% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Net Margin

23rd percentile

-4.1%

Higher net margin than 23% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

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.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Asset Growth

47th percentile

3.9%

Faster asset growth than 47% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

50th percentile

4.3%

Faster revenue growth than 50% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,441,808

Up $54,678 (+3.9%) from 2018

Net Assets

Down

$53,679

Down $74,619 (-58%) from 2018

Liabilities

Up

$1,388,129

Up $129,297 (+10%) from 2018

Revenue

Up

$1,820,981

Up $75,852 (+4.3%) from 2018

Expenses

Up

$1,895,600

Up $111,626 (+6.3%) from 2018

Net Income

Down

-$74,619

Down $35,774 (-92%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$1,441,808
Liabilities$1,388,129
Net Assets$53,679

Operations Trend

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

2019

Revenue$1,820,981
Expenses$1,895,600
Net Income-$74,619
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 9, 2019
Return Version
2018v3.1
Gross Receipts
$1,820,981
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$449,263$412,501▼ $36,762
Prepaid Expenses and Deferred Charges$381,107$374,615▼ $6,492
Savings and Temporary Cash Investments$90,213$345,276▲ $255,063
Cash and Non-Interest-Bearing Accounts$446,518$309,416▼ $137,102
Pledges and Grants Receivable$20,029--
Total Assets$1,387,130$1,441,808▲ $54,678
Liabilities
Other Liabilities$1,256,028$1,385,695▲ $129,667
Accounts Payable and Accrued Expenses$2,804$2,434▼ $370
Total Liabilities$1,258,832$1,388,129▲ $129,297
Net Assets / Fund Balance
Unrestricted Net Assets$128,298$53,679▼ $74,619
Total Net Assets Fund Balance$128,298$53,679▼ $74,619
Total Liabilities and Net Assets / Fund Balance$1,387,130$1,441,808▲ $54,678

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$385,228$515,777-
Other Land Buildings-$27,280-
Land$14,338--
Equipment$17,755$123,267-
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,784,995
Program Service Revenue
$35,986
Investment Income
$0
Other Revenue
$0
All Other Contributions
$62,625
Change in Net Assets
$-74,619

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,820,981
Total Revenue per Audited Statements
$1,820,981
Total Revenue per Form 990
$1,820,981
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,475,926
Other Expenses$419,674
Total Fundraising Expense$12,386
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$957,615--$957,615
Pension Plan Contributions$312,872--$312,872
Other Employee Benefits$135,177--$135,177
Occupancy$84,880--$84,880
Payroll Taxes$70,262--$70,262
All Other Expenses$48,034-$12,386$60,420
Interest$31,112--$31,112
Fees for Services Accounting$26,820--$26,820
Office Expenses$15,834--$15,834
Other Expenses$15,792--$15,792
Insurance$15,290--$15,290
Total Functional Expenses$1,883,214$0$12,386$1,895,600

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,895,600
Total Expenses per Audited Statements$1,895,600
Total Expenses per Form 990$1,895,600
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$701,004
Net Pension Liability$651,128
Deferred Inflows of Resources$17,718
Notes Payable Current Portion$15,845
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
2019-12-09
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
36
Volunteers
38

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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IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0141022
IRS990ScheduleD/ExpensesSubtotalAmt01895600
IRS990ScheduleD/LandGrp/BookValueAmt014338
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt014338
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt027280
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt027280
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0701004
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1651128
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt217718
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt315845
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE LONG TERM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NOTES PAYABLE CURRENT PORTION
IRS990ScheduleD/RevenueSubtotalAmt01820981
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0417321
IRS990ScheduleD/TotalExpensesPerForm990Amt01895600
IRS990ScheduleD/TotalLiabilityAmt01385695
IRS990ScheduleD/TotalRevenuePerForm990Amt01820981
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01820981
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01895600
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01387130
IRS990/TotalAssetsEOYAmt01441808
IRS990/TotalAssetsGrp/BOYAmt01387130
IRS990/TotalAssetsGrp/EOYAmt01441808
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01784995
IRS990/TotalEmployeeCnt036
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt012386
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01883214
IRS990/TotalFunctionalExpensesGrp/TotalAmt01895600
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01258832
IRS990/TotalLiabilitiesEOYAmt01388129
IRS990/TotalLiabilitiesGrp/BOYAmt01258832
IRS990/TotalLiabilitiesGrp/EOYAmt01388129
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0128298
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt053679
IRS990/TotalProgramServiceExpensesAmt01883214
IRS990/TotalProgramServiceRevenueAmt035986
IRS990/TotalRevenueGrp/ExclusionAmt035986
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01820981
IRS990/TotalVolunteersCnt038
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01387130
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01441808
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0128298
IRS990/UnrestrictedNetAssetsGrp/EOYAmt053679
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/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DR LORI BLACKLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN / DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09107387828
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-12-09
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/AtSubmissionCreationDeviceId025B693A878EA450C1F311616A82E4637ACC61B31
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId03DD5D0FADC5FD3038290D493CF907AC3BA83F794
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.38.98.93
ReturnHeader/FilingSecurityInformation/IPDt02020-01-17
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm012:44:15
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/PreparationDt02019-12-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CULBERT M MCLEAN JR
ReturnHeader/ReturnTs02020-01-17T12:44:15-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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