Civic Intelligence

Bridges Educational Foundation Inc.

990 • Fiscal year 2020 • EIN 56-2018020

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 11, 2021

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

91st percentile

0.97x

Higher debt load relative to assets than 91% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

95th percentile

2.51x

Higher debt load relative to revenue than 95% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Net Margin

19th percentile

-11%

Higher net margin than 19% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

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

2020 filings • NTEE B • $1M-$5M nonprofits • Source year 2020

Asset Growth

88th percentile

80%

Faster asset growth than 88% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

40th percentile

-6.1%

Faster revenue growth than 40% of similar nonprofits.

2020 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$4,732,507

Up $2,107,138 (+80%) from 2019

Net Assets

Down

$162,686

Down $192,231 (-54%) from 2019

Liabilities

Up

$4,569,821

Up $2,299,369 (+101%) from 2019

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin19th percentile

Revenue

Down

$1,823,313

Down $119,411 (-6.1%) from 2019

Expenses

Up

$2,015,544

Up $232,479 (+13%) from 2019

Net Income

Down

-$192,231

Down $351,890 (-220%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth88th 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

2020

Assets$4,732,507
Liabilities$4,569,821
Net Assets$162,686
Open 2020 Filing

Operations Trend

Revenue Growth40th 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

2020

Revenue$1,823,313
Expenses$2,015,544
Net Income-$192,231
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 11, 2021
Return Version
2019v5.1
Gross Receipts
$1,823,313
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,195,591$3,443,800▲ $2,248,209
Cash and Non-Interest-Bearing Accounts$1,058,847$899,651▼ $159,196
Accounts Receivable$1,026$1,053▲ $27
Total Assets$2,625,369$4,732,507▲ $2,107,138
Other Assets Total$369,905$388,003▲ $18,098
Liabilities
Mortgage Notes Payable Secured by Investment Property$149,150$2,374,194▲ $2,225,044
Other Liabilities$2,098,111$2,151,823▲ $53,712
Accounts Payable and Accrued Expenses$23,191$43,804▲ $20,613
Total Liabilities$2,270,452$4,569,821▲ $2,299,369
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$354,917$162,686▼ $192,231
Total Net Assets Fund Balance$354,917$162,686▼ $192,231
Total Liabilities and Net Assets / Fund Balance$2,625,369$4,732,507▲ $2,107,138

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,407,379$149,605$2,556,984
Buildings$663,183$303,966$967,149
Land$300,000-$300,000
Equipment$73,238$199,848$273,086
Other Assets Org$1,674--
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Kristi EidsonBoard Chair
Jan AyersVice Chair
Charles BriggsBoard Member
Penny SimmonsBoard Member
Teresa RoyallSecretary
Crystal ScottTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$273,247
Program Service Revenue
$1,550,066
Investment Income
$0
Other Revenue
$0
All Other Contributions
$800
Change in Net Assets
$-192,231

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,823,313
Total Revenue per Audited Statements
$1,823,313
Total Revenue per Form 990
$1,823,313
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,140,122
Other Expenses$875,422
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$729,637$106,531-$836,168
Other Expenses$262,839$14,965-$277,804
Pension Plan Contributions$109,903$19,792-$129,695
Other Employee Benefits$102,193$13,361-$115,554
Interest-$73,243-$73,243
Depreciation Depletion$61,652$10,537-$72,189
Payroll Taxes$45,290$13,415-$58,705
Insurance-$33,466-$33,466
Occupancy$20,187--$20,187
Fees for Services Accounting-$8,230-$8,230
Conferences and Meetings$1,894--$1,894
Advertising-$150-$150
Total Functional Expenses$1,477,656$537,888$0$2,015,544

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,015,544
Total Expenses per Audited Statements$2,015,544
Total Expenses per Form 990$2,015,544
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$1,147,478
Net Pension Liability$533,799
Compensated Absences$435,412
Federal income taxes$35,134
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 35% controlled entity
No
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
Kristi Eidson
Title
Board Chair
Phone
3368355959
Signed
2021-01-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Monroe Watkins
Formed
1996
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
35
Volunteers
26

Preparer

Firm
Rebekah Barr CPA PC
Address
5422 Boswellville Road, Wilson, NC 27893
Preparer
Rebekah Barr
Phone
2522306294
Raw XML Appendix399 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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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0386329
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11674
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deferred Outflows of Resources
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Net OPEB Asset
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02407379
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0149605
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02556984
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt035134
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1435412
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2533799
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt31147478
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/RevenueSubtotalAmt01823313
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03443800
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0388003
IRS990ScheduleD/TotalExpensesPerForm990Amt02015544
IRS990ScheduleD/TotalLiabilityAmt02151823
IRS990ScheduleD/TotalRevenuePerForm990Amt01823313
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01823313
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02015544
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02625369
IRS990/TotalAssetsEOYAmt04732507
IRS990/TotalAssetsGrp/BOYAmt02625369
IRS990/TotalAssetsGrp/EOYAmt04732507
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0273247
IRS990/TotalEmployeeCnt035
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0537888
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01477656
IRS990/TotalFunctionalExpensesGrp/TotalAmt02015544
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02270452
IRS990/TotalLiabilitiesEOYAmt04569821
IRS990/TotalLiabilitiesGrp/BOYAmt02270452
IRS990/TotalLiabilitiesGrp/EOYAmt04569821
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0354917
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0162686
IRS990/TotalProgramServiceExpensesAmt01477656
IRS990/TotalProgramServiceRevenueAmt01550066
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01823313
IRS990/TotalVolunteersCnt026
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02625369
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04732507
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02587 Pleasant Ridge Road
IRS990/USAddress/CityNm0State Road
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028676
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Kristi Eidson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum03368355959
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-11
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
ReturnHeader/Filer/USAddress/ZIPCd028676
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rebekah Barr CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05422 Boswellville Road
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027893
ReturnHeader/PreparerPersonGrp/PhoneNum02522306294
ReturnHeader/PreparerPersonGrp/PreparationDt02021-01-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah Barr
ReturnHeader/ReturnTs02021-01-11T03:53:37-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,732,507
Liabilities
$4,569,821
Net assets
$162,686
Revenue
$1,823,313
Expenses
$2,015,544
Net income
-$192,231
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