Civic Intelligence

Arapohoe Charter School

990 • Fiscal year 2017 • EIN 56-1967591

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 04, 2018

9005 NC Hwy 306 SouthArapahoe, NC 28510

(252) 249-2599

Siviq Scores

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

Liabilities / Assets

67th percentile

0.54x

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

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

74th percentile

0.66x

Higher debt load relative to revenue than 74% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Net Margin

48th percentile

3.4%

Higher net margin than 48% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

61st percentile

$156,750

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2017 filings • NTEE B • $5M-$10M nonprofits • Source year 2017

Asset Growth

94th percentile

62%

Faster asset growth than 94% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

61st percentile

10%

Faster revenue growth than 61% of similar nonprofits.

2017 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Up

$7,191,808

Up $2,765,956 (+62%) from 2016

Net Assets

Down

$3,277,296

Down $63,960 (-1.9%) from 2016

Liabilities

Up

$3,914,512

Up $2,829,916 (+261%) from 2016

Revenue

Up

$5,922,495

Up $548,467 (+10%) from 2016

Expenses

Up

$5,718,720

Up $901,140 (+19%) from 2016

Net Income

Down

$203,775

Down $352,673 (-63%) from 2016

Historical Trend

Balance Sheet Trend

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

$20M$10M$0-$10MAssets 2012: $2,550,000Liabilities 2012: $729,776Net Assets 2012: $1,820,2242012Assets 2014: $2,856,043Liabilities 2014: $193,137Net Assets 2014: $2,662,9062014Assets 2015: $3,769,394Liabilities 2015: $1,194,819Net Assets 2015: $2,574,5752015Assets 2016: $4,425,852Liabilities 2016: $1,084,596Net Assets 2016: $3,341,2562016Assets 2017: $7,191,808Liabilities 2017: $3,914,512Net Assets 2017: $3,277,2962017Assets 2018: $12,663,235Liabilities 2018: $17,085,834Net Assets 2018: -$4,422,5992018Assets 2019: $12,875,549Liabilities 2019: $17,470,468Net Assets 2019: -$4,594,9192019Assets 2020: $12,867,105Liabilities 2020: $18,138,303Net Assets 2020: -$5,271,1982020Assets 2021: $12,564,276Liabilities 2021: $17,879,845Net Assets 2021: -$5,315,5692021Assets 2022: $12,711,122Liabilities 2022: $16,716,593Net Assets 2022: -$4,005,4712022

Highlighted filing

2017

Assets$7,191,808
Liabilities$3,914,512
Net Assets$3,277,296

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2012: $3,560,0582012Revenue 2014: $4,581,152Expenses 2014: $4,181,772Net Income 2014: $399,3802014Revenue 2015: $5,063,302Expenses 2015: $4,246,738Net Income 2015: $816,5642015Revenue 2016: $5,374,028Expenses 2016: $4,817,580Net Income 2016: $556,4482016Revenue 2017: $5,922,495Expenses 2017: $5,718,720Net Income 2017: $203,7752017Revenue 2018: $6,620,401Expenses 2018: $6,473,143Net Income 2018: $147,2582018Revenue 2019: $7,151,772Expenses 2019: $7,324,092Net Income 2019: -$172,3202019Revenue 2020: $6,671,529Expenses 2020: $7,347,808Net Income 2020: -$676,2792020Revenue 2021: $6,802,653Expenses 2021: $6,847,024Net Income 2021: -$44,3712021Revenue 2022: $8,116,125Expenses 2022: $6,806,027Net Income 2022: $1,310,0982022

Highlighted filing

2017

Revenue$5,922,495
Expenses$5,718,720
Net Income$203,775
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 4, 2018
Return Version
2016v3.1
Gross Receipts
$5,922,495
Mission and Program Overview

Mission

Organization operates a public charter school under the control of the north carolina department of public instruction to provide a quality education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,986,424$1,752,316▼ $234,108
Land, Buildings, and Equipment, Net$1,583,870$1,553,465▼ $30,405
Pledges and Grants Receivable-$37,788-
Inventories for Sale or Use$3,220$1,433▼ $1,787
Accounts Receivable$5,236$410▼ $4,826
Total Assets$4,425,852$7,191,808▲ $2,765,956
Other Assets Total$847,102$3,846,396▲ $2,999,294
Liabilities
Other Liabilities$1,082,147$2,339,241▲ $1,257,094
Mortgage Notes Payable Secured by Investment Property-$1,025,000-
Accounts Payable and Accrued Expenses$2,449$547,638▲ $545,189
Deferred Revenue-$2,633-
Total Liabilities$1,084,596$3,914,512▲ $2,829,916
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,974,757$3,005,077▲ $1,030,320
Unrestricted Net Assets$1,366,499$272,219▼ $1,094,280
Total Net Assets Fund Balance$3,341,256$3,277,296▼ $63,960
Total Liabilities and Net Assets / Fund Balance$4,425,852$7,191,808▲ $2,765,956

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,226,824$865,465$2,092,289
Equipment$55,752$502,450$558,202
Land$270,889-$270,889
Other Assets Org$15,804--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Dennis SawyerAdmin. Direc$156,750$156,750
Dennis SawyerAdmin. Director$156,750$156,750

Board Members and Trustees

NameTitle
Jimmy LeeBoard Chairp
Casey PerryBoard Member
Cody EdwardsBoard Member
Jaclyn JonesBoard Member
Maryellen StalnakerBoard Member
Tiffany PopperwillBoard Member
Jennie AdamsBoard Secret
Tyrone RobertsonBoard Treasu
Candicia MidyetteBoard Vice C
Revenue and Support

Revenue Composition

Contributions and Grants
$5,867,499
Program Service Revenue
$54,637
Investment Income
$359
Other Revenue
$0
All Other Contributions
$152,197
Change in Net Assets
$203,775

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,922,495
Total Revenue per Audited Statements
$5,922,495
Total Revenue per Form 990
$5,922,495
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,580,385
Other Expenses$1,046,060
Professional Fundraising Fees$92,275
Total Fundraising Expense$92,275
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,062,900$256,291-$3,319,191
Other Employee Benefits$1,184,722$76,472-$1,261,194
All Other Expenses$47,604$53,333-$100,937
Fees for Services Professional Fundraising--$92,275$92,275
Information Technology$91,473--$91,473
Occupancy$920$81,810-$82,730
Depreciation Depletion$65,030$1,327-$66,357
Fees for Services Legal-$65,022-$65,022
Insurance-$54,466-$54,466
Other Expenses$31,441$3,685-$31,441
Conferences and Meetings$20,791--$20,791
Fees for Services Accounting-$8,400-$8,400
Travel$7,458--$7,458
Total Functional Expenses$5,002,206$624,239$92,275$5,718,720

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,718,720
Total Expenses per Audited Statements$5,718,720
Total Expenses per Form 990$5,718,720
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$92,275
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$1,995,373
Compensated Absences$248,679
Deferred Inflows of Resources$95,189
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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 6

Any person can be a member of arapahoe charter school by paying a 5 fee.

Form 990, Page 6, Part VI, Line 7A

After paying the membership fee, the new member can vote for boa rd members or can be elected as a board member.

Form 990, Page 6, Part VI, Line 11B

Board of directors reviews the audited financial statements and form 990.

Form 990, Page 6, Part VI, Line 12C

Conflict of interest policy is enforced as required by north carolina general statutes.

Form 990, Page 6, Part VI, Line 15A

Board of directors approves compensation for all employees.

Form 990, Page 6, Part VI, Line 19

Governing documents are available upon request in the school's office.

Filing and Contact Details

Filer

Filer Name
Arapahoe Charter School
EIN
56-1967591
Phone
2522492599
Address
9005 NC HWY 306 SOUTH, ARAPAHOE, NC 28510

Signing Officer

Name
Chris Watson
Title
Business Manager
Phone
2522492599
Signed
2018-03-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jimmy Lee
Formed
1996
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
101

Preparer

Firm
Anderson Smith & Wike Pllc
Address
154 S HARBOR WATCH DR, STATESVILLE, NC 28677-2495
Preparer
H Dale Smith CPA
Phone
7045625039
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IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01226824
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0865465
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02092289
IRS990ScheduleD/EquipmentGrp/BookValueAmt055752
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0502450
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0558202
IRS990ScheduleD/ExpensesSubtotalAmt05718720
IRS990ScheduleD/LandGrp/BookValueAmt0270889
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0270889
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02412438
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11418154
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt215804
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEFERRED OUTFLOWS OF RESOURCES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE TO OTHER GOVERNMENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01995373
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1248679
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt295189
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1COMPENSATED ABSENCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/RevenueSubtotalAmt05922495
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01553465
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03846396
IRS990ScheduleD/TotalExpensesPerForm990Amt05718720
IRS990ScheduleD/TotalLiabilityAmt02339241
IRS990ScheduleD/TotalRevenuePerForm990Amt05922495
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05922495
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05718720
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SCHOOL RECEIVES FUNDING FROM THE NORTH CAROLINA DEPARTMENT OF PUBLIC INSTRUCTION AS WELL AS FROM THE COUNTIES IN WHICH STUDENTS OF THE SCHOOL RESIDE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 6
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0156750
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DENNIS SAWYER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0ADMIN. DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0156750
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ANY PERSON CAN BE A MEMBER OF ARAPAHOE CHARTER SCHOOL BY PAYING A 5 FEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AFTER PAYING THE MEMBERSHIP FEE, THE NEW MEMBER CAN VOTE FOR BOA RD MEMBERS OR CAN BE ELECTED AS A BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD OF DIRECTORS REVIEWS THE AUDITED FINANCIAL STATEMENTS AND FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST POLICY IS ENFORCED AS REQUIRED BY NORTH CAROLINA GENERAL STATUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD OF DIRECTORS APPROVES COMPENSATION FOR ALL EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST IN THE SCHOOL'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01974757
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt03005077
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04425852
IRS990/TotalAssetsEOYAmt07191808
IRS990/TotalAssetsGrp/BOYAmt04425852
IRS990/TotalAssetsGrp/EOYAmt07191808
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt05867499
IRS990/TotalEmployeeCnt0101
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt092275
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0624239
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05002206
IRS990/TotalFunctionalExpensesGrp/TotalAmt05718720
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01084596
IRS990/TotalLiabilitiesEOYAmt03914512
IRS990/TotalLiabilitiesGrp/BOYAmt01084596
IRS990/TotalLiabilitiesGrp/EOYAmt03914512
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03341256
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03277296
IRS990/TotalProgramServiceExpensesAmt05002206
IRS990/TotalProgramServiceRevenueAmt054637
IRS990/TotalReportableCompFromOrgAmt0156750
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt054996
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05922495
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04425852
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07191808
IRS990/TravelGrp/ProgramServicesAmt07458
IRS990/TravelGrp/TotalAmt07458
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01366499
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0272219
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09005 NC HWY 306 SOUTH
IRS990/USAddress/CityNm0ARAPAHOE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028510
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRIS WATSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BUSINESS MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum02522492599
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARAPAHOE CHARTER SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0ARAP
ReturnHeader/Filer/EIN0561967591

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