Civic Intelligence

Bridges Educational Foundation Inc.

990 • Fiscal year 2018 • EIN 56-2018020

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 19, 2018

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

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

88th percentile

0.98x

Higher debt load relative to revenue than 88% of similar nonprofits.

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

Net Margin

62nd percentile

8.6%

Higher net margin than 62% 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

61st percentile

7.7%

Faster asset growth than 61% 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

Up

$2,199,394

Up $157,379 (+7.7%) from 2017

Net Assets

Down

$195,258

Down $1,413,538 (-88%) from 2017

Liabilities

Up

$2,004,136

Up $1,570,917 (+363%) from 2017

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin62nd percentile

Revenue

Up

$2,040,858

Up $196,454 (+11%) from 2017

Expenses

Up

$1,864,971

Up $306,991 (+20%) from 2017

Net Income

Down

$175,887

Down $110,537 (-39%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth61st 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

2018

Assets$2,199,394
Liabilities$2,004,136
Net Assets$195,258
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 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

2018

Revenue$2,040,858
Expenses$1,864,971
Net Income$175,887
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 19, 2018
Return Version
2017v2.3
Gross Receipts
$2,040,858
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,079,845$1,028,476▼ $51,369
Cash and Non-Interest-Bearing Accounts$621,031$982,656▲ $361,625
Accounts Receivable$80,000$1,757▼ $78,243
Total Assets$2,042,015$2,199,394▲ $157,379
Other Assets Total$261,139$186,505▼ $74,634
Liabilities
Other Liabilities$426,769$1,941,673▲ $1,514,904
Mortgage Notes Payable Secured by Investment Property-$57,151-
Accounts Payable and Accrued Expenses$6,450$5,312▼ $1,138
Total Liabilities$433,219$2,004,136▲ $1,570,917
Net Assets / Fund Balance
Unrestricted Net Assets$1,608,796$195,258▼ $1,413,538
Total Net Assets Fund Balance$1,608,796$195,258▼ $1,413,538
Total Liabilities and Net Assets / Fund Balance$2,042,015$2,199,394▲ $157,379

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$691,987$222,702$914,689
Land$300,000-$300,000
Equipment$14,908$179,824$194,732
Other Land Buildings$21,581$113,229$134,810
Other Assets Org$1,944--
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Phillip NormanBoard Chair
Charles BriggsVice Chair
James PartinBoard Member
Jan AyersBoard Member
Teresa RoyallBoard Member
Wallice HairstonBoard Member
Penny SimmonsSecretary
Kristi EidsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$307,796
Program Service Revenue
$1,733,062
Investment Income
$0
Other Revenue
$0
All Other Contributions
$58,620
Change in Net Assets
$175,887

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,040,858
Total Revenue per Audited Statements
$2,040,858
Total Revenue per Form 990
$2,040,858
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,175,251
Salaries, Compensation, and Employee Benefits$689,720
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$420,530$140,176-$560,706
Other Salaries and Wages$382,570$66,177-$448,747
Pension Plan Contributions$122,518$4,479-$126,997
Other Employee Benefits$57,796$13,511-$71,307
Other Expenses$66,336$102-$66,336
Depreciation Depletion$41,615$9,754-$51,369
Payroll Taxes$37,572$5,097-$42,669
Insurance-$25,940-$25,940
Fees for Services Accounting-$8,630-$8,630
Conferences and Meetings$570--$570
Interest-$353-$353
Total Functional Expenses$1,367,260$497,711$0$1,864,971

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,864,971
Total Expenses per Audited Statements$1,864,971
Total Expenses per Form 990$1,864,971
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
Deferred Inflows of Resources$1,053,326
Net Pension Liability$592,328
Compensated Absences$276,912
Federal income taxes$19,107
Net OPEB Liability-
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
Executive Director
Phone
3368742721
Signed
2018-11-19
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
25
Volunteers
23

Preparer

Firm
Rebekah Barr CPA PC
Address
5422 Boswellville Road, Wilson, NC 27893
Preparer
Rebekah Barr
Phone
2522306294
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IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0691987
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0222702
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0914689
IRS990ScheduleD/EquipmentGrp/BookValueAmt014908
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0179824
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0194732
IRS990ScheduleD/ExpensesSubtotalAmt01864971
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0300000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0300000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0184561
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11944
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows of Resources
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Net OPEB Asset
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt021581
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0113229
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0134810
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019107
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1276912
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2592328
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt31053326
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Compensated Absences
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net Pension Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Deferred Inflows of Resources
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Net OPEB Liability
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt02040858
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01028476
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0186505
IRS990ScheduleD/TotalExpensesPerForm990Amt01864971
IRS990ScheduleD/TotalLiabilityAmt01941673
IRS990ScheduleD/TotalRevenuePerForm990Amt02040858
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02040858
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01864971
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 received 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/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02042015
IRS990/TotalAssetsEOYAmt02199394
IRS990/TotalAssetsGrp/BOYAmt02042015
IRS990/TotalAssetsGrp/EOYAmt02199394
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0307796
IRS990/TotalEmployeeCnt025
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0497711
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01367260
IRS990/TotalFunctionalExpensesGrp/TotalAmt01864971
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0433219
IRS990/TotalLiabilitiesEOYAmt02004136
IRS990/TotalLiabilitiesGrp/BOYAmt0433219
IRS990/TotalLiabilitiesGrp/EOYAmt02004136
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01608796
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0195258
IRS990/TotalProgramServiceExpensesAmt01367260
IRS990/TotalProgramServiceRevenueAmt01733062
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02040858
IRS990/TotalVolunteersCnt023
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02042015
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02199394
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01608796
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0195258
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/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Merry Lowe
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum03368742721
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-19
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

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,199,394
Liabilities
$2,004,136
Net assets
$195,258
Revenue
$2,040,858
Expenses
$1,864,971
Net income
$175,887
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