Civic Intelligence

Phoenix Academy Inc.

990 • Fiscal year 2019 • EIN 56-2059485

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 03, 2020

Organization ProfileWWW.PAHP.COM
4020 Meeting WayHigh Point, NC 27265

(336) 869-0079

Siviq Scores

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

Liabilities / Assets

37th percentile

0.14x

Higher debt load relative to assets than 37% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

14th percentile

0.01x

Higher debt load relative to revenue than 14% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Net Margin

23rd percentile

-2.9%

Higher net margin than 23% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Asset Growth

5th percentile

-21%

Faster asset growth than 5% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

25th percentile

-2.4%

Faster revenue growth than 25% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$783,038

Down $213,532 (-21%) from 2018

Net Assets

Down

$672,140

Down $231,407 (-26%) from 2018

Liabilities

Up

$110,898

Up $17,875 (+19%) from 2018

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin23rd percentile

Revenue

Down

$8,032,008

Down $198,968 (-2.4%) from 2018

Expenses

Down

$8,263,415

Down $161,494 (-1.9%) from 2018

Net Income

Down

-$231,407

Down $37,474 (-19%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $1,257,463Liabilities 2010: $3,212Net Assets 2010: $1,254,2512010Assets 2011: $1,298,733Liabilities 2011: $3,796Net Assets 2011: $1,294,9372011Assets 2012: $1,532,447Liabilities 2012: $73,221Net Assets 2012: $1,459,2262012Assets 2013: $1,167,808Liabilities 2013: $39,598Net Assets 2013: $1,128,2102013Assets 2014: $1,304,395Liabilities 2014: $133,493Net Assets 2014: $1,170,9022014Assets 2015: $1,545,836Liabilities 2015: $115,328Net Assets 2015: $1,430,5082015Assets 2016: $1,098,934Liabilities 2016: $124,401Net Assets 2016: $974,5332016Assets 2017: $1,327,978Liabilities 2017: $230,497Net Assets 2017: $1,097,4812017Assets 2018: $996,570Liabilities 2018: $93,023Net Assets 2018: $903,5472018Assets 2019: $783,038Liabilities 2019: $110,898Net Assets 2019: $672,1402019Assets 2020: $1,856,942Liabilities 2020: $805,617Net Assets 2020: $1,051,3252020Assets 2021: $3,025,069Liabilities 2021: $1,047,573Net Assets 2021: $1,977,4962021Assets 2022: $3,440,830Liabilities 2022: $491,461Net Assets 2022: $2,949,3692022Assets 2023: $6,215,013Liabilities 2023: $3,136,208Net Assets 2023: $3,078,8052023Assets 2024: $7,552,075Liabilities 2024: $4,243,628Net Assets 2024: $3,308,4472024

Highlighted filing

2019

Assets$783,038
Liabilities$110,898
Net Assets$672,140
Open 2019 Filing

Operations Trend

Revenue Growth25th percentile

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $2,385,7312010Expenses 2011: $2,229,3882011Revenue 2012: $2,471,031Expenses 2012: $2,306,742Net Income 2012: $164,2892012Expenses 2013: $2,696,5112013Revenue 2014: $4,862,964Expenses 2014: $4,820,272Net Income 2014: $42,6922014Revenue 2015: $6,893,921Expenses 2015: $6,534,394Net Income 2015: $359,5272015Revenue 2016: $8,263,821Expenses 2016: $8,719,796Net Income 2016: -$455,9752016Revenue 2017: $9,639,824Expenses 2017: $9,544,921Net Income 2017: $94,9032017Revenue 2018: $8,230,976Expenses 2018: $8,424,909Net Income 2018: -$193,9332018Revenue 2019: $8,032,008Expenses 2019: $8,263,415Net Income 2019: -$231,4072019Revenue 2020: $9,140,427Expenses 2020: $8,761,242Net Income 2020: $379,1852020Revenue 2021: $10,364,069Expenses 2021: $9,437,898Net Income 2021: $926,1712021Revenue 2022: $12,117,600Expenses 2022: $11,145,727Net Income 2022: $971,8732022Revenue 2023: $13,683,872Expenses 2023: $13,554,436Net Income 2023: $129,4362023Revenue 2024: $16,414,577Expenses 2024: $16,184,935Net Income 2024: $229,6422024

Highlighted filing

2019

Revenue$8,032,008
Expenses$8,263,415
Net Income-$231,407
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 3, 2020
Return Version
2018v3.2
Gross Receipts
$8,032,008
Mission and Program Overview

Mission

Phoenix academy is a non-profit charter school providing education to children from kindergarten through 12th grade. Its mission is to educate and encourage students to become active, compassionate, lifelong learners who respect others and their differences.

Phoenix academy is a non-profit, charter school providing education to children grades kindergarden through 5th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$500,035$438,150▼ $61,885
Land, Buildings, and Equipment, Net$292,737$201,713▼ $91,024
Pledges and Grants Receivable$18,776$96,567▲ $77,791
Accounts Receivable$2,335$24,159▲ $21,824
Prepaid Expenses and Deferred Charges$182,687$22,449▼ $160,238
Total Assets$996,570$783,038▼ $213,532
Liabilities
Accounts Payable and Accrued Expenses$47,148$62,520▲ $15,372
Other Liabilities$45,875$48,378▲ $2,503
Total Liabilities$93,023$110,898▲ $17,875
Net Assets / Fund Balance
Unrestricted Net Assets$903,547$672,140▼ $231,407
Total Net Assets Fund Balance$903,547$672,140▼ $231,407
Total Liabilities and Net Assets / Fund Balance$996,570$783,038▼ $213,532

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$100,664$768,828$869,492
Other Land Buildings$15,546$255,925$271,471
Leasehold Improvements$85,503$155,197$240,700
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Perry FlynnChair
Clarence HendersonBoard Member
Joel EpsteinBoard Member
James McneilEx-officio
Charles a AltSecretary
Christopher SwadenerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,653,984
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$378,024
All Other Contributions
$3,930
Change in Net Assets
$-231,407

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,032,008
Total Revenue per Audited Statements
$8,032,008
Total Revenue per Form 990
$8,032,008
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,145,878
Salaries, Compensation, and Employee Benefits$3,117,537
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,499,740--$2,499,740
Occupancy$2,384,942--$2,384,942
Other Employee Benefits$617,797--$617,797
Fees for Services Other$297,109--$297,109
Depreciation Depletion$139,460--$139,460
Information Technology$64,841--$64,841
Insurance$59,835--$59,835
Other Expenses$49,966$1,653,757-$49,966
All Other Expenses$49,644--$49,644
Travel$3,716--$3,716
Total Functional Expenses$6,609,658$1,653,757$0$8,263,415

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,263,415
Total Expenses per Audited Statements$8,263,415
Total Expenses per Form 990$8,263,415
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
Capital Lease$48,378
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Management duties are delegated to 7 degrees of change foundation.”

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

“The board of directors and the principal will review the form 990 before filing.”

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

“Each board member is obligated to consider and disclose any private, personal, or business interest that may significantly affect the board members actions on a matter before the board.”

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

“Reasonable compensation is determined through comparason of compensation for similar services with other non- profit organizations and through compensation surveys. All compensation must be approved by the board.”

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

“Reasonable compensation is determined through comparison of compensation for similar services with other non- profit organizations and through compensation surveys. All compensation must be approved by the board.”

Form 990, Page 6, Part VI, Line 19

“All information is available on site by request and available through foundational websites or non-profit websites via the internet.”

Filing and Contact Details

Filer

Filer Name
Phoenix Academy Inc
EIN
56-2059485
Phone
3368690079
Address
4020 MEETING WAY, HIGH POINT, NC 27265

Signing Officer

Name
Perry Flynn
Title
Chair
Phone
3368690079
Signed
2020-06-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Perry Flynn
Formed
1999
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
82

Preparer

Firm
Rives & Associates Llp
Address
4515 FALLS OF NEUSE ROAD SUITE 450, RALEIGH, NC 27609
Preparer
Megan Rushford CPA
Phone
9198326848
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“FUNDRAISING 0”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“FUNDRAISING 0”

Raw XML AppendixShowing 400 of 418 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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1PHOENIX ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2PHOENIX ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE IS IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt3PHOENIX ACADEMY IS ORGANIZED AS A PUBLIC CHARTER SCHOOL UNDER NORTH CAROLINA GENERAL STATUTE 115C-238 29A. ACCORDINGLY, IT RECEIVED BOTH FEDERAL AND STATE FUNDING AS ITS PRIMARY MEANS OF SUPPORT.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT DUTIES ARE DELEGATED TO 7 DEGREES OF CHANGE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS AND THE PRINCIPAL WILL REVIEW THE FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH BOARD MEMBER IS OBLIGATED TO CONSIDER AND DISCLOSE ANY PRIVATE, PERSONAL, OR BUSINESS INTEREST THAT MAY SIGNIFICANTLY AFFECT THE BOARD MEMBERS ACTIONS ON A MATTER BEFORE THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REASONABLE COMPENSATION IS DETERMINED THROUGH COMPARASON OF COMPENSATION FOR SIMILAR SERVICES WITH OTHER NON- PROFIT ORGANIZATIONS AND THROUGH COMPENSATION SURVEYS. ALL COMPENSATION MUST BE APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REASONABLE COMPENSATION IS DETERMINED THROUGH COMPARISON OF COMPENSATION FOR SIMILAR SERVICES WITH OTHER NON- PROFIT ORGANIZATIONS AND THROUGH COMPENSATION SURVEYS. ALL COMPENSATION MUST BE APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL INFORMATION IS AVAILABLE ON SITE BY REQUEST AND AVAILABLE THROUGH FOUNDATIONAL WEBSITES OR NON-PROFIT WEBSITES VIA THE INTERNET.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$783,038
Liabilities
$110,898
Net assets
$672,140
Revenue
$8,032,008
Expenses
$8,263,415
Net income
-$231,407
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.55$4.24$3.31$16.4$16.2$0.23
2023Detailed filing. Detailed filing data is available for this year.$6.22$3.14$3.08$13.7$13.6$0.13
2022Detailed filing. Detailed filing data is available for this year.$3.44$0.49$2.95$12.1$11.1$0.97
2021Detailed filing. Detailed filing data is available for this year.$3.03$1.05$1.98$10.4$9.44$0.93
2020Detailed filing. Detailed filing data is available for this year.$1.86$0.81$1.05$9.14$8.76$0.38
2019Detailed filing. Detailed filing data is available for this year.$0.78$0.11$0.67$8.03$8.26$0.23
2018Detailed filing. Detailed filing data is available for this year.$1.00$0.09$0.90$8.23$8.42$0.19
2017Detailed filing. Detailed filing data is available for this year.$1.33$0.23$1.10$9.64$9.54$0.09
2016Detailed filing. Detailed filing data is available for this year.$1.10$0.12$0.97$8.26$8.72$0.46
2015Detailed filing. Detailed filing data is available for this year.$1.55$0.12$1.43$6.89$6.53$0.36
2014Detailed filing. Detailed filing data is available for this year.$1.30$0.13$1.17$4.86$4.82$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$0.04$1.13$2.70
2012Summary only. Only limited summary data is available for this year.$1.53$0.07$1.46$2.47$2.31$0.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$0.00$1.29$2.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.26$0.00$1.25$2.39