Civic Intelligence

Hickory Christian Academy

990 • Fiscal year 2016 • EIN 56-1932672

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 10, 2016

Organization ProfileWWW.HICKORYCHRISTIANACADEMY.COM
3260 6th St Dr NWHickory, NC 28601

(828) 324-5405

Siviq Scores

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

Liabilities / Assets

50th percentile

0.13x

Higher debt load relative to assets than 50% of similar nonprofits.

2016 filings • NTEE B • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

67th percentile

0.23x

Higher debt load relative to revenue than 67% of similar nonprofits.

2016 filings • NTEE B • $1M-$5M nonprofits • Source year 2016

Net Margin

19th percentile

-6.7%

Higher net margin than 19% of similar nonprofits.

2016 filings • NTEE B • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

63rd percentile

$100,000

Higher top officer pay than 63% of similar nonprofits.

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

2016 filings • NTEE B • $1M-$5M nonprofits • Source year 2016

Asset Growth

16th percentile

-7.1%

Faster asset growth than 16% of similar nonprofits.

2016 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

31st percentile

-3.4%

Faster revenue growth than 31% of similar nonprofits.

2016 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$4,816,513

Down $369,471 (-7.1%) from 2015

Net Assets

Down

$4,185,837

Down $186,729 (-4.3%) from 2015

Liabilities

Down

$630,676

Down $182,742 (-22%) from 2015

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin19th percentile

Revenue

Down

$2,708,490

Down $96,168 (-3.4%) from 2015

Expenses

Up

$2,888,656

Up $49,346 (+1.7%) from 2015

Net Income

Down

-$180,166

Down $145,514 (-420%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$10M$5.0M$0Assets 2011: $4,261,444Liabilities 2011: $1,247,956Net Assets 2011: $3,013,4882011Assets 2012: $4,101,364Liabilities 2012: $1,224,469Net Assets 2012: $2,876,8952012Assets 2013: $5,619,469Liabilities 2013: $1,624,463Net Assets 2013: $3,995,0062013Assets 2014: $5,394,909Liabilities 2014: $979,470Net Assets 2014: $4,415,4392014Assets 2015: $5,185,984Liabilities 2015: $813,418Net Assets 2015: $4,372,5662015Assets 2016: $4,816,513Liabilities 2016: $630,676Net Assets 2016: $4,185,8372016Assets 2017: $4,424,579Liabilities 2017: $600,775Net Assets 2017: $3,823,8042017Assets 2018: $4,245,798Liabilities 2018: $451,814Net Assets 2018: $3,793,9842018Assets 2019: $3,844,925Liabilities 2019: $420,470Net Assets 2019: $3,424,4552019Assets 2020: $3,787,331Liabilities 2020: $651,822Net Assets 2020: $3,135,5092020Assets 2021: $3,739,915Liabilities 2021: $335,346Net Assets 2021: $3,404,5692021Assets 2022: $3,555,312Liabilities 2022: $320,574Net Assets 2022: $3,234,7382022Assets 2023: $5,220,053Liabilities 2023: $382,306Net Assets 2023: $4,837,7472023Assets 2024: $8,391,412Liabilities 2024: $2,987,406Net Assets 2024: $5,404,0062024Assets 2025: $7,903,510Liabilities 2025: $2,894,701Net Assets 2025: $5,008,8092025

Highlighted filing

2016

Assets$4,816,513
Liabilities$630,676
Net Assets$4,185,837
Open 2016 Filing

Operations Trend

Revenue Growth31st percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,954,035Expenses 2011: $1,953,706Net Income 2011: $3292011Revenue 2012: $1,990,969Expenses 2012: $2,127,562Net Income 2012: -$136,5932012Revenue 2013: $3,390,502Expenses 2013: $2,278,178Net Income 2013: $1,112,3242013Revenue 2014: $3,012,546Expenses 2014: $2,578,956Net Income 2014: $433,5902014Revenue 2015: $2,804,658Expenses 2015: $2,839,310Net Income 2015: -$34,6522015Revenue 2016: $2,708,490Expenses 2016: $2,888,656Net Income 2016: -$180,1662016Revenue 2017: $2,729,096Expenses 2017: $3,100,285Net Income 2017: -$371,1892017Revenue 2018: $3,208,921Expenses 2018: $3,239,190Net Income 2018: -$30,2692018Revenue 2019: $2,850,597Expenses 2019: $3,217,724Net Income 2019: -$367,1272019Revenue 2020: $2,880,429Expenses 2020: $3,162,354Net Income 2020: -$281,9252020Revenue 2021: $3,301,668Expenses 2021: $3,060,218Net Income 2021: $241,4502021Revenue 2022: $3,249,783Expenses 2022: $3,369,241Net Income 2022: -$119,4582022Revenue 2023: $5,219,475Expenses 2023: $3,626,772Net Income 2023: $1,592,7032023Revenue 2024: $4,513,086Expenses 2024: $3,966,204Net Income 2024: $546,8822024Revenue 2025: $4,575,079Expenses 2025: $4,982,596Net Income 2025: -$407,5172025

Highlighted filing

2016

Revenue$2,708,490
Expenses$2,888,656
Net Income-$180,166
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 10, 2016
Return Version
2015v2.1
Gross Receipts
$2,761,375
Mission and Program Overview

Mission

Education for grades k thru 12

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,334,919$4,130,854▼ $204,065
Pledges and Grants Receivable$264,511$164,282▼ $100,229
Cash and Non-Interest-Bearing Accounts$242,821$148,568▼ $94,253
Accounts Receivable$110,687$144,646▲ $33,959
Investments in Publicly Traded Securities$150,494$141,830▼ $8,664
Prepaid Expenses and Deferred Charges$80,157$83,969▲ $3,812
Inventories for Sale or Use$2,395$2,364▼ $31
Total Assets$5,185,984$4,816,513▼ $369,471
Liabilities
Mortgage Notes Payable Secured by Investment Property$539,762$359,762▼ $180,000
Deferred Revenue$182,504$174,531▼ $7,973
Unsecured Notes Loans Payable$51,000$51,000→ $0
Accounts Payable and Accrued Expenses$40,152$45,383▲ $5,231
Total Liabilities$813,418$630,676▼ $182,742
Net Assets / Fund Balance
Unrestricted Net Assets$3,856,403$3,855,378▼ $1,025
Temporarily Rstr Net Assets$516,163$330,459▼ $185,704
Total Net Assets Fund Balance$4,372,566$4,185,837▼ $186,729
Total Liabilities and Net Assets / Fund Balance$5,185,984$4,816,513▼ $369,471

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,087,706$2,104,392$6,192,098
Land$43,148-$43,148

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$150,515-▼ $1,406-$141,830
2015$151,312-▼ $797-$150,515
2014$132,079$3,693▲ $15,540-$151,312
2013$116,679$15,000▲ $400-$132,079
2012$109,614-▲ $7,065-$116,679
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tracy RobinsonHeadmasterFT$100,000$100,000

Board Members and Trustees

NameTitle
Steven SparksChairman
Justin ArnotVice Chair
Chad FryeBoard of Directors
Daryl CarterBoard of Directors
Elizabeth SmithBoard of Directors
Julie NorcrossBoard of Directors
Mike MillerBoard of Directors
Phyllis HowardSecretary
Greg McmurrayTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$204,358
Program Service Revenue
$2,454,495
Investment Income
$-2,677
Other Revenue
$52,314
All Other Contributions
$57,019
Change in Net Assets
$-180,166

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,708,490
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-74,678
Total Revenue per Audited Statements
$2,633,812
Total Revenue per Form 990
$2,708,490
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,933,172
Other Expenses$949,484
Total Fundraising Expense$17,253
Grants and Similar Amounts Paid$6,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$1,573,142$102,500-$1,675,642
Depreciation Depletion$286,194--$286,194
Payroll Taxes$133,027$17,124-$150,151
All Other Expenses$100,853$36,497-$137,350
Current Officers, Directors, Trustees, and Key Employees-$100,000-$100,000
Occupancy$71,679--$71,679
Other Expenses$62,115--$62,115
Insurance$50,335--$50,335
Office Expenses-$29,293-$29,293
Interest-$18,186-$18,186
Fees for Services Other$17,421--$17,421
Advertising--$17,253$17,253
Conferences and Meetings$14,126--$14,126
Information Technology-$9,249-$9,249
Pension Plan Contributions$7,379--$7,379
Grants to Domestic Individuals$6,000--$6,000
Fees for Services Accounting-$4,650-$4,650
Travel$3,195--$3,195
Total Functional Expenses$2,553,904$317,499$17,253$2,888,656

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,888,656
Expenses per Audited Statements$2,820,541
Total Expenses per Audited Statements$2,820,541
Expenses Not Reported on Financial Statements$68,115
Other Expense Adjustments$68,115
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$59,572
Fundraising Direct Expenses$13,455
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Knights 5k Run$14,305$14,305-$14,305
Golf Tournament$105,581$13,455$13,455$0
Total Events$151,698$59,572$13,455$46,117
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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, Part VI, Section B, Line 11

“The 990 will be reviewed by an officer prior to signing and filing of form 990”

Form 990, Part VI, Section C, Line 18

“Tax returns are available to the public at www.guidestar.org and upon request”

Form 990, Part VI, Section C, Line 19

“Documents are available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Hickory Christian Academy Inc
EIN
56-1932672
Phone
8283245405
Address
3260 6TH ST DR NW, HICKORY, NC 28601

Signing Officer

Name
Tracy Robinson
Title
Headmaster
Phone
8283245405
Signed
2016-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tracy Robinson
Formed
1995
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
104
Volunteers
0

Preparer

Firm
Martin Starnes & Associates Cpas Pa
Address
730 13TH AVENUE DR SE, HICKORY, NC 28602
Preparer
Frank F Williams CPA
Phone
8283272727
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“The academy has adopted investment and spending policies for endowment assets that attempt to subject the fund to low investment risk and provide scholarships with current income. Endowment assets are invested in equity funds. The academy seeks to build endowment assets through additional contributions. The academy has a policy of appropriating for distribution each year a scholarship in the amount set by academy's board from the endowment fund's investment income from the previous, and the academy generally expends the endowment fund's investment income for scholarships in the year following receipt. The current spending policy is not expected to allow the academy's endowment fund to grow as a result of investment returns. This is consistent with the academy's objectives to provide scholarships to certain graduating seniors, preserve endowment assets without subjecting them to substantial risk, and provide additional real growth through new gifts.”

PART X, LINE 2:

“The academy has implemented the accounting requirements associated with uncertainty in income taxes using the provisions of financial accounting standards board ("fasb") asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not that the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. As of june 30, the academy had no uncertain tax positions that qualify for either recognition or disclosure in the financial statements and recognized no such interest or penalties during the year ended june 30, 2016.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Scholarship disbursements -68,115.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Scholarship disbursements 68,115.”

Raw XML AppendixShowing 400 of 521 raw XML fields

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/InventoriesForSaleOrUseGrp/BOYAmt02395
IRS990/InventoriesForSaleOrUseGrp/EOYAmt02364
IRS990/InvestmentIncomeGrp/ExclusionAmt05598
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt062
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt05660
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0150494
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0141830
IRS990/IRPDocumentCnt03
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02104392
IRS990/LandBldgEquipBasisNetGrp/BOYAmt04334919
IRS990/LandBldgEquipBasisNetGrp/EOYAmt04130854
IRS990/LandBldgEquipCostOrOtherBssAmt06235246
IRS990/LegalDomicileStateCd0NC
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt07498
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt031901
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0EDUCATION FOR GRADES K THRU 12
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0539762
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0359762
IRS990/NetAssetsOrFundBalancesBOYAmt04372566
IRS990/NetAssetsOrFundBalancesEOYAmt04185837
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-3339
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-4998
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-8337
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt046117
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt046117
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt01555
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt01555
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-6563
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt071679
IRS990/OccupancyGrp/TotalAmt071679
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt029293
IRS990/OfficeExpensesGrp/TotalAmt029293
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0REPAIR AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc1ATHLETIC PROGRAMS
IRS990/OtherExpensesGrp/Desc2TECTBOOK, CURRICULUM
IRS990/OtherExpensesGrp/Desc3SCHOLARSHIP DISBURSEMEN
IRS990/OtherExpensesGrp/ProgramServicesAmt094666
IRS990/OtherExpensesGrp/ProgramServicesAmt170102
IRS990/OtherExpensesGrp/ProgramServicesAmt263670
IRS990/OtherExpensesGrp/ProgramServicesAmt362115
IRS990/OtherExpensesGrp/TotalAmt094666
IRS990/OtherExpensesGrp/TotalAmt170102
IRS990/OtherExpensesGrp/TotalAmt263670
IRS990/OtherExpensesGrp/TotalAmt362115
IRS990/OtherRevenueMiscGrp/BusinessCd0611110
IRS990/OtherRevenueMiscGrp/Desc0NET TRASH INTO CASH
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt04642
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt04642
IRS990/OtherRevenueTotalAmt04642
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt017124
IRS990/PayrollTaxesGrp/ProgramServicesAmt0133027
IRS990/PayrollTaxesGrp/TotalAmt0150151
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt07379
IRS990/PensionPlanContributionsGrp/TotalAmt07379
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0264511
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0164282
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt080157
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt083969
IRS990/PrincipalOfficerNm0TRACY ROBINSON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/BusinessCd1611110
IRS990/ProgramServiceRevenueGrp/BusinessCd2611110
IRS990/ProgramServiceRevenueGrp/BusinessCd3611110
IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
IRS990/ProgramServiceRevenueGrp/Desc1REGISTRATION FEE
IRS990/ProgramServiceRevenueGrp/Desc2ACTIVITY FEES
IRS990/ProgramServiceRevenueGrp/Desc3BOOSTER CLUB FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02305914
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1128349
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt212127
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt38105
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02305914
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1128349
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt212127
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt38105
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0482932
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03115
IRS990/PYOtherExpensesAmt0973212
IRS990/PYOtherRevenueAmt010821
IRS990/PYProgramServiceRevenueAmt02307790
IRS990/PYRevenuesLessExpensesAmt0-34652
IRS990/PYSalariesCompEmpBnftPaidAmt01866098
IRS990/PYTotalExpensesAmt02839310
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02804658
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-180166
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02455756
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt01279
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0150515
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0141830
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt06000
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-1406
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0151312
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0150515
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-797
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0132079
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt03693
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0151312
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt015540
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0116679
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt015000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0132079
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0400
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0109614
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0116679
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt07065
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt068115
IRS990ScheduleD/ExpensesSubtotalAmt02820541
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt043148
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt043148
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-6563
IRS990ScheduleD/OtherExpensesNotIncludedAmt068115
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt04087706
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02104392
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06192098
IRS990ScheduleD/OtherRevenueAmt0-68115
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.94000
IRS990ScheduleD/RevenueNotReportedAmt0-74678
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02708490
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO SUBJECT THE FUND TO LOW INVESTMENT RISK AND PROVIDE SCHOLARSHIPS WITH CURRENT INCOME. ENDOWMENT ASSETS ARE INVESTED IN EQUITY FUNDS. THE ACADEMY SEEKS TO BUILD ENDOWMENT ASSETS THROUGH ADDITIONAL CONTRIBUTIONS. THE ACADEMY HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR A SCHOLARSHIP IN THE AMOUNT SET BY ACADEMY'S BOARD FROM THE ENDOWMENT FUND'S INVESTMENT INCOME FROM THE PREVIOUS, AND THE ACADEMY GENERALLY EXPENDS THE ENDOWMENT FUND'S INVESTMENT INCOME FOR SCHOLARSHIPS IN THE YEAR FOLLOWING RECEIPT. THE CURRENT SPENDING POLICY IS NOT EXPECTED TO ALLOW THE ACADEMY'S ENDOWMENT FUND TO GROW AS A RESULT OF INVESTMENT RETURNS. THIS IS CONSISTENT WITH THE ACADEMY'S OBJECTIVES TO PROVIDE SCHOLARSHIPS TO CERTAIN GRADUATING SENIORS, PRESERVE ENDOWMENT ASSETS WITHOUT SUBJECTING THEM TO SUBSTANTIAL RISK, AND PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ACADEMY HAS IMPLEMENTED THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THAT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. AS OF JUNE 30, THE ACADEMY HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AND RECOGNIZED NO SUCH INTEREST OR PENALTIES DURING THE YEAR ENDED JUNE 30, 2016.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SCHOLARSHIP DISBURSEMENTS -68,115.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3SCHOLARSHIP DISBURSEMENTS 68,115.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.06000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04130854
IRS990ScheduleD/TotalExpensesPerForm990Amt02888656
IRS990ScheduleD/TotalRevenuePerForm990Amt02708490
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02633812
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02820541
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,816,513
Liabilities
$630,676
Net assets
$4,185,837
Revenue
$2,708,490
Expenses
$2,888,656
Net income
-$180,166
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.90$2.89$5.01$4.58$4.98$0.41
2024Detailed filing. Detailed filing data is available for this year.$8.39$2.99$5.40$4.51$3.97$0.55
2023Detailed filing. Detailed filing data is available for this year.$5.22$0.38$4.84$5.22$3.63$1.59
2022Detailed filing. Detailed filing data is available for this year.$3.56$0.32$3.23$3.25$3.37$0.12
2021Detailed filing. Detailed filing data is available for this year.$3.74$0.34$3.40$3.30$3.06$0.24
2020Detailed filing. Detailed filing data is available for this year.$3.79$0.65$3.14$2.88$3.16$0.28
2019Detailed filing. Detailed filing data is available for this year.$3.84$0.42$3.42$2.85$3.22$0.37
2018Detailed filing. Detailed filing data is available for this year.$4.25$0.45$3.79$3.21$3.24$0.03
2017Detailed filing. Detailed filing data is available for this year.$4.42$0.60$3.82$2.73$3.10$0.37
2016Detailed filing. Detailed filing data is available for this year.$4.82$0.63$4.19$2.71$2.89$0.18
2015Detailed filing. Detailed filing data is available for this year.$5.19$0.81$4.37$2.80$2.84$0.03
2014Detailed filing. Detailed filing data is available for this year.$5.39$0.98$4.42$3.01$2.58$0.43
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.62$1.62$4.00$3.39$2.28$1.11
2012Summary only. Only limited summary data is available for this year.$4.10$1.22$2.88$1.99$2.13$0.14
2011Summary only. Only limited summary data is available for this year.$4.26$1.25$3.01$1.95$1.95$0.00