Civic Intelligence

Bridges Educational Foundation Inc.

990 • Fiscal year 2016 • EIN 56-2018020

Jul 01, 2015 to Jun 30, 2016 • Filed on Dec 15, 2016

Organization Profile
2587 Pleasant Ridge RoadState Road, NC 28676

(336) 874-2721

Siviq Scores

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

Liabilities / Assets

51st percentile

0.14x

Higher debt load relative to assets than 51% of similar nonprofits.

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

Liabilities / Revenue

54th percentile

0.12x

Higher debt load relative to revenue than 54% of similar nonprofits.

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

Net Margin

83rd percentile

22%

Higher net margin than 83% of similar nonprofits.

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

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

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

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

Asset Growth

84th percentile

36%

Faster asset growth than 84% of similar nonprofits.

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

Revenue Growth

77th percentile

20%

Faster revenue growth than 77% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$1,546,612

Up $407,502 (+36%) from 2015

Net Assets

Up

$1,322,372

Up $406,926 (+44%) from 2015

Liabilities

Up

$224,240

Up $576 (+0.3%) from 2015

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin83rd percentile

Revenue

Up

$1,821,295

Up $308,696 (+20%) from 2015

Expenses

Up

$1,414,369

Up $82,110 (+6.2%) from 2015

Net Income

Up

$406,926

Up $226,586 (+126%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

$6.0M$4.0M$2.0M$0Assets 2012: $844,215Liabilities 2012: $45,744Net Assets 2012: $798,4712012Assets 2013: $786,299Liabilities 2013: $7,067Net Assets 2013: $779,2322013Assets 2014: $916,430Liabilities 2014: $37,518Net Assets 2014: $878,9122014Assets 2015: $1,139,110Liabilities 2015: $223,664Net Assets 2015: $915,4462015Assets 2016: $1,546,612Liabilities 2016: $224,240Net Assets 2016: $1,322,3722016Assets 2017: $2,042,015Liabilities 2017: $433,219Net Assets 2017: $1,608,7962017Assets 2018: $2,199,394Liabilities 2018: $2,004,136Net Assets 2018: $195,2582018Assets 2019: $2,625,369Liabilities 2019: $2,270,452Net Assets 2019: $354,9172019Assets 2020: $4,732,507Liabilities 2020: $4,569,821Net Assets 2020: $162,6862020Assets 2021: $3,939,307Liabilities 2021: $2,430,504Net Assets 2021: $1,508,8032021Assets 2022: $318,619Liabilities 2022: $0Net Assets 2022: $318,6192022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2016

Assets$1,546,612
Liabilities$224,240
Net Assets$1,322,372
Open 2016 Filing

Operations Trend

Revenue Growth77th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $1,286,313Expenses 2012: $1,274,628Net Income 2012: $11,6852012Revenue 2013: $1,254,934Expenses 2013: $1,274,173Net Income 2013: -$19,2392013Revenue 2014: $1,384,803Expenses 2014: $1,285,123Net Income 2014: $99,6802014Revenue 2015: $1,512,599Expenses 2015: $1,332,259Net Income 2015: $180,3402015Revenue 2016: $1,821,295Expenses 2016: $1,414,369Net Income 2016: $406,9262016Revenue 2017: $1,844,404Expenses 2017: $1,557,980Net Income 2017: $286,4242017Revenue 2018: $2,040,858Expenses 2018: $1,864,971Net Income 2018: $175,8872018Revenue 2019: $1,942,724Expenses 2019: $1,783,065Net Income 2019: $159,6592019Revenue 2020: $1,823,313Expenses 2020: $2,015,544Net Income 2020: -$192,2312020Revenue 2021: $1,601,935Expenses 2021: $2,155,216Net Income 2021: -$553,2812021Revenue 2022: $390,008Expenses 2022: $71,389Net Income 2022: $318,6192022Revenue 2023: $1,392,318Expenses 2023: $102,471Net Income 2023: $1,289,8472023

Highlighted filing

2016

Revenue$1,821,295
Expenses$1,414,369
Net Income$406,926
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Dec 15, 2016
Return Version
2015v2.1
Gross Receipts
$1,821,295
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$734,127$1,002,559▲ $268,432
Cash and Non-Interest-Bearing Accounts$341,713$372,678▲ $30,965
Accounts Receivable-$91,000-
Total Assets$1,139,110$1,546,612▲ $407,502
Other Assets Total$63,270$80,375▲ $17,105
Liabilities
Other Liabilities$216,916$211,130▼ $5,786
Accounts Payable and Accrued Expenses$6,748$13,110▲ $6,362
Total Liabilities$223,664$224,240▲ $576
Net Assets / Fund Balance
Unrestricted Net Assets$915,446$1,322,372▲ $406,926
Total Net Assets Fund Balance$915,446$1,322,372▲ $406,926
Total Liabilities and Net Assets / Fund Balance$1,139,110$1,546,612▲ $407,502

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$664,950$155,143$820,093
Land$300,000-$300,000
Equipment$16,573$163,874$180,447
Other Land Buildings$21,036$101,214$122,250
Other Assets Org$80,375--
Compensation and Service Providers
Top Officer Pay32nd percentile

Board Members and Trustees

NameTitle
Phillip NormanBoard Chair
Charles BriggsVice Chair
James PartinBoard Member
Jan AyersBoard Member
John HallBoard Member
Melissa TharpeBoard Member
Wallice HairstonBoard Member
Penny SimmonsSecretary
Kristi EidsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$229,303
Program Service Revenue
$1,591,992
Investment Income
$0
Other Revenue
$0
All Other Contributions
$200
Change in Net Assets
$406,926

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,821,295
Total Revenue per Audited Statements
$1,821,295
Total Revenue per Form 990
$1,821,295
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$760,352
Other Expenses$654,017
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$513,466$47,471-$560,937
Other Employee Benefits$54,530$46,263-$100,793
Other Expenses$65,838$116,813-$65,838
Pension Plan Contributions$52,893$5,822-$58,715
Payroll Taxes$36,475$3,432-$39,907
Depreciation Depletion$30,568$7,597-$38,165
Occupancy$21,023$7,008-$28,031
Insurance-$25,664-$25,664
Fees for Services Accounting-$8,825-$8,825
Interest-$7,160-$7,160
Conferences and Meetings$2,130--$2,130
Total Functional Expenses$1,118,319$296,050$0$1,414,369

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,414,369
Total Expenses per Audited Statements$1,414,369
Total Expenses per Form 990$1,414,369
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
Compensated Absences$148,882
Net Pension Liability$33,059
Federal income taxes$29,189
Deferred Inflows of Resources-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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 11B

“The board treasurer reviews 990 and reports to the board of directors prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Each board member is required to execute a conflict of interest statement and confidentiality agreement annually. Any potential conflict of interest is reviewed and resolved by the board of directors.”

Form 990, Part VI, Section B, Line 15A

“Compensation for top officials is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individual.”

Form 990, Part VI, Section B, Line 15B

“Compensation for key employees is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individual.”

Form 990, Part VI, Section C, Line 19

“Governing documents, school policies and financial statements are available for viewing by the public at the Schools office upon request.”

Filing and Contact Details

Filer

Filer Name
Bridges Academy
EIN
56-2018020
Phone
3368742721
Address
2587 Pleasant Ridge Road, State Road, NC 28676

Signing Officer

Name
Merry Lowe
Title
Director
Signed
2016-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Monroe Watkins
Formed
1996
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
20

Preparer

Firm
Rebekah Barr CPA PC
Address
5422 Boswellville Road, Wilson, NC 27893
Preparer
Rebekah Barr
Phone
2522306294
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IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0664950
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0155143
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0820093
IRS990ScheduleD/EquipmentGrp/BookValueAmt016573
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0163874
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0180447
IRS990ScheduleD/ExpensesSubtotalAmt01414369
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0300000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0300000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt080375
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows of Resources
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt021036
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0101214
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0122250
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt029189
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1148882
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt233059
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Compensated Absences
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Deferred Inflows of Resources
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt01821295
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01002559
IRS990ScheduleD/TotalBookValueOtherAssetsAmt080375
IRS990ScheduleD/TotalExpensesPerForm990Amt01414369
IRS990ScheduleD/TotalLiabilityAmt0211130
IRS990ScheduleD/TotalRevenuePerForm990Amt01821295
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01821295
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01414369
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/ExplanationTxt0North Carolina charter schools are funded by State and Local Governments. The School also receives various federal grants.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board treasurer reviews 990 and reports to the board of directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each board member is required to execute a conflict of interest statement and confidentiality agreement annually. Any potential conflict of interest is reviewed and resolved by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation for top officials is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individual.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation for key employees is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individual.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Governing documents, school policies and financial statements are available for viewing by the public at the Schools office upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01139110
IRS990/TotalAssetsEOYAmt01546612
IRS990/TotalAssetsGrp/BOYAmt01139110
IRS990/TotalAssetsGrp/EOYAmt01546612
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0229303
IRS990/TotalEmployeeCnt020
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0296050
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01118319
IRS990/TotalFunctionalExpensesGrp/TotalAmt01414369
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0223664
IRS990/TotalLiabilitiesEOYAmt0224240
IRS990/TotalLiabilitiesGrp/BOYAmt0223664
IRS990/TotalLiabilitiesGrp/EOYAmt0224240
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0915446
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01322372
IRS990/TotalProgramServiceExpensesAmt01118319
IRS990/TotalProgramServiceRevenueAmt01591992
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01821295
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01139110
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01546612
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0915446
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01322372
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02587 Pleasant Ridge Road
IRS990/USAddress/CityNm0State Road
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028676
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Merry Lowe
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-12-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Bridges Academy
ReturnHeader/Filer/BusinessNameControlTxt0BRID
ReturnHeader/Filer/EIN0562018020
ReturnHeader/Filer/PhoneNum03368742721
ReturnHeader/Filer/USAddress/AddressLine1Txt02587 Pleasant Ridge Road
ReturnHeader/Filer/USAddress/CityNm0State Road
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,546,612
Liabilities
$224,240
Net assets
$1,322,372
Revenue
$1,821,295
Expenses
$1,414,369
Net income
$406,926
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.39$0.10$1.29
2022Detailed filing. Detailed filing data is available for this year.$0.32$0.00$0.32$0.39$0.07$0.32
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.94$2.43$1.51$1.60$2.16$0.55
2020Detailed filing. Detailed filing data is available for this year.$4.73$4.57$0.16$1.82$2.02$0.19
2019Detailed filing. Detailed filing data is available for this year.$2.63$2.27$0.35$1.94$1.78$0.16
2018Detailed filing. Detailed filing data is available for this year.$2.20$2.00$0.20$2.04$1.86$0.18
2017Detailed filing. Detailed filing data is available for this year.$2.04$0.43$1.61$1.84$1.56$0.29
2016Detailed filing. Detailed filing data is available for this year.$1.55$0.22$1.32$1.82$1.41$0.41
2015Detailed filing. Detailed filing data is available for this year.$1.14$0.22$0.92$1.51$1.33$0.18
2014Detailed filing. Detailed filing data is available for this year.$0.92$0.04$0.88$1.38$1.29$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.01$0.78$1.25$1.27$0.02
2012Summary only. Only limited summary data is available for this year.$0.84$0.05$0.80$1.29$1.27$0.01