Civic Intelligence

Bridges Educational Foundation Inc.

990 • Fiscal year 2019 • EIN 56-2018020

Jul 01, 2018 to Jun 30, 2019 • Filed on Oct 30, 2019

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

0.86x

Higher debt load relative to assets than 89% of similar nonprofits.

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

Liabilities / Revenue

90th percentile

1.17x

Higher debt load relative to revenue than 90% of similar nonprofits.

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

Net Margin

63rd percentile

8.2%

Higher net margin than 63% 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

76th percentile

19%

Faster asset growth than 76% of similar nonprofits.

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

Revenue Growth

28th percentile

-4.8%

Faster revenue growth than 28% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$2,625,369

Up $425,975 (+19%) from 2018

Net Assets

Up

$354,917

Up $159,659 (+82%) from 2018

Liabilities

Up

$2,270,452

Up $266,316 (+13%) from 2018

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin63rd percentile

Revenue

Down

$1,942,724

Down $98,134 (-4.8%) from 2018

Expenses

Down

$1,783,065

Down $81,906 (-4.4%) from 2018

Net Income

Down

$159,659

Down $16,228 (-9.2%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth76th 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

2019

Assets$2,625,369
Liabilities$2,270,452
Net Assets$354,917
Open 2019 Filing

Operations Trend

Revenue Growth28th 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

2019

Revenue$1,942,724
Expenses$1,783,065
Net Income$159,659
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Oct 30, 2019
Return Version
2018v3.1
Gross Receipts
$1,942,724
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,028,476$1,195,591▲ $167,115
Cash and Non-Interest-Bearing Accounts$982,656$1,058,847▲ $76,191
Accounts Receivable$1,757$1,026▼ $731
Total Assets$2,199,394$2,625,369▲ $425,975
Other Assets Total$186,505$369,905▲ $183,400
Liabilities
Other Liabilities$1,941,673$2,098,111▲ $156,438
Mortgage Notes Payable Secured by Investment Property$57,151$149,150▲ $91,999
Accounts Payable and Accrued Expenses$5,312$23,191▲ $17,879
Total Liabilities$2,004,136$2,270,452▲ $266,316
Net Assets / Fund Balance
Unrestricted Net Assets$195,258$354,917▲ $159,659
Total Net Assets Fund Balance$195,258$354,917▲ $159,659
Total Liabilities and Net Assets / Fund Balance$2,199,394$2,625,369▲ $425,975

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$700,246$266,903$967,149
Land$300,000-$300,000
Other Land Buildings$167,051$126,308$293,359
Equipment$28,294$188,019$216,313
Other Assets Org$1,151--
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Phillip NormanBoard Chair
Charles BriggsVice Chair
Crystal ScottBoard Member
James PartinBoard Member
Kristi EidsonBoard Member
Teresa RoyallBoard Member
Wallice HairstonBoard Member
Penny SimmonsSecretary
Jan AyersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$293,537
Program Service Revenue
$1,649,187
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,125
Change in Net Assets
$159,659

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,942,724
Total Revenue per Audited Statements
$1,942,724
Total Revenue per Form 990
$1,942,724
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$920,828
Salaries, Compensation, and Employee Benefits$862,237
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$542,394$81,407-$623,801
Other Employee Benefits$90,949$27,929-$118,878
Other Expenses$69,518$49,228-$69,518
Pension Plan Contributions$55,484$12,551-$68,035
Depreciation Depletion$54,303$11,172-$65,475
Payroll Taxes$43,178$8,345-$51,523
Insurance-$32,016-$32,016
Occupancy$31,212--$31,212
Office Expenses-$14,829-$14,829
Fees for Services Accounting-$8,230-$8,230
Interest-$4,726-$4,726
Total Functional Expenses$1,250,115$532,950$0$1,783,065

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,783,065
Total Expenses per Audited Statements$1,783,065
Total Expenses per Form 990$1,783,065
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$995,136
Net Pension Liability$673,796
Compensated Absences$407,204
Federal income taxes$21,975
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
Phillip Norman
Title
Board Chair
Phone
3368742721
Signed
2019-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Monroe Watkins
Formed
1996
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
33
Volunteers
25

Preparer

Firm
Rebekah Barr CPA PC
Address
5422 Boswellville Road, Wilson, NC 27893
Preparer
Rebekah Barr
Phone
2522306294
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IRS990/ReconcilationRevenueExpnssAmt0159659
IRS990/RegularMonitoringEnfrcInd0true
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IRS990ScheduleA/PublicSupportCY509Pct00.00000
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0266903
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0967149
IRS990ScheduleD/EquipmentGrp/BookValueAmt028294
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0188019
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0216313
IRS990ScheduleD/ExpensesSubtotalAmt01783065
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0300000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0300000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0368754
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11151
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows of Resources
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Net OPEB Asset
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0167051
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0126308
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0293359
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021975
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1407204
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2673796
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3995136
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/RevenueSubtotalAmt01942724
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01195591
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0369905
IRS990ScheduleD/TotalExpensesPerForm990Amt01783065
IRS990ScheduleD/TotalLiabilityAmt02098111
IRS990ScheduleD/TotalRevenuePerForm990Amt01942724
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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.
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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
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01250115
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt02004136
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IRS990/TotalProgramServiceExpensesAmt01250115
IRS990/TotalProgramServiceRevenueAmt01649187
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01942724
IRS990/TotalVolunteersCnt025
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02625369
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0195258
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0354917
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02587 Pleasant Ridge Road
IRS990/USAddress/CityNm0State Road
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028676
IRS990/VotingMembersGoverningBodyCnt09
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-01-14 16:20:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Phillip Norman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum03368742721

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,625,369
Liabilities
$2,270,452
Net assets
$354,917
Revenue
$1,942,724
Expenses
$1,783,065
Net income
$159,659
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