Civic Intelligence

The Arts Based School

990 • Fiscal year 2024 • EIN 56-2160330

Jul 01, 2023 to Jun 30, 2024 • Filed on Dec 04, 2024

Organization Profilewww.artsbasedschool.com
1380 Martin Luther King Jr DriveWinston Salem, NC 27101

(336) 748-4116

Siviq Scores

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

Liabilities / Assets

98th percentile

1.37x

Higher debt load relative to assets than 98% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

83rd percentile

2.51x

Higher debt load relative to revenue than 83% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Net Margin

18th percentile

-6.3%

Higher net margin than 18% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

28th percentile

$0

Higher top officer pay than 28% of similar nonprofits.

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

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Asset Growth

55th percentile

2.2%

Faster asset growth than 55% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

71st percentile

14%

Faster revenue growth than 71% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$13,614,382

Up $293,511 (+2.2%) from 2023

Net Assets

Down

-$4,973,040

Down $465,211 (-10%) from 2023

Liabilities

Up

$18,587,422

Up $758,722 (+4.3%) from 2023

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin18th percentile

Revenue

Up

$7,392,260

Up $899,769 (+14%) from 2023

Expenses

Up

$7,857,471

Up $1,253,788 (+19%) from 2023

Net Income

Down

-$465,211

Down $354,019 (-318%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$20M$10M$0-$10MAssets 2011: $1,018,473Liabilities 2011: $275,128Net Assets 2011: $743,3452011Assets 2012: $989,062Liabilities 2012: $218,514Net Assets 2012: $770,5482012Assets 2013: $1,160,965Liabilities 2013: $237,163Net Assets 2013: $923,8022013Assets 2014: $1,340,651Liabilities 2014: $243,213Net Assets 2014: $1,097,4382014Assets 2015: $1,942,294Liabilities 2015: $937,041Net Assets 2015: $1,005,2532015Assets 2016: $2,419,438Liabilities 2016: $1,054,947Net Assets 2016: $1,364,4912016Assets 2017: $3,061,898Liabilities 2017: $1,635,083Net Assets 2017: $1,426,8152017Assets 2018: $3,173,955Liabilities 2018: $8,194,906Net Assets 2018: -$5,020,9512018Assets 2019: $3,593,856Liabilities 2019: $8,602,632Net Assets 2019: -$5,008,7762019Assets 2020: $3,841,238Liabilities 2020: $9,329,139Net Assets 2020: -$5,487,9012020Assets 2021: $4,439,997Liabilities 2021: $9,341,323Net Assets 2021: -$4,901,3262021Assets 2022: $4,408,736Liabilities 2022: $8,805,373Net Assets 2022: -$4,396,6372022Assets 2023: $13,320,871Liabilities 2023: $17,828,700Net Assets 2023: -$4,507,8292023Assets 2024: $13,614,382Liabilities 2024: $18,587,422Net Assets 2024: -$4,973,0402024Assets 2025: $14,144,364Liabilities 2025: $19,119,150Net Assets 2025: -$4,974,7862025

Highlighted filing

2024

Assets$13,614,382
Liabilities$18,587,422
Net Assets-$4,973,040
Open 2024 Filing

Operations Trend

Revenue Growth71st percentile

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

$10M$5.0M$0-$5.0MRevenue 2011: $2,477,815Expenses 2011: $2,523,423Net Income 2011: -$45,6082011Revenue 2012: $2,527,057Expenses 2012: $2,499,854Net Income 2012: $27,2032012Revenue 2013: $2,873,935Expenses 2013: $2,720,681Net Income 2013: $153,2542013Revenue 2014: $3,620,232Expenses 2014: $3,446,596Net Income 2014: $173,6362014Revenue 2015: $4,084,143Expenses 2015: $3,561,256Net Income 2015: $522,8872015Revenue 2016: $4,146,074Expenses 2016: $3,786,836Net Income 2016: $359,2382016Revenue 2017: $4,515,264Expenses 2017: $4,452,940Net Income 2017: $62,3242017Revenue 2018: $4,303,253Expenses 2018: $4,774,131Net Income 2018: -$470,8782018Revenue 2019: $4,762,846Expenses 2019: $4,750,671Net Income 2019: $12,1752019Revenue 2020: $4,722,875Expenses 2020: $5,202,000Net Income 2020: -$479,1252020Revenue 2021: $5,724,190Expenses 2021: $5,137,615Net Income 2021: $586,5752021Revenue 2022: $5,874,065Expenses 2022: $5,369,376Net Income 2022: $504,6892022Revenue 2023: $6,492,491Expenses 2023: $6,603,683Net Income 2023: -$111,1922023Revenue 2024: $7,392,260Expenses 2024: $7,857,471Net Income 2024: -$465,2112024Revenue 2025: $8,126,059Expenses 2025: $8,127,805Net Income 2025: -$1,7462025

Highlighted filing

2024

Revenue$7,392,260
Expenses$7,857,471
Net Income-$465,211
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Dec 4, 2024
Return Version
2023v5.1
Gross Receipts
$7,392,260
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,863,838$9,507,258▼ $356,580
Accounts Receivable$300,016$427,832▲ $127,816
Cash and Non-Interest-Bearing Accounts$112,961$185,555▲ $72,594
Prepaid Expenses and Deferred Charges$23,014$34,324▲ $11,310
Total Assets$13,320,871$13,614,382▲ $293,511
Other Assets Total$3,021,042$3,459,413▲ $438,371
Liabilities
Other Liabilities$17,800,576$18,379,007▲ $578,431
Accounts Payable and Accrued Expenses$28,124$208,415▲ $180,291
Total Liabilities$17,828,700$18,587,422▲ $758,722
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-4,507,829$-4,973,040▼ $465,211
Total Net Assets Fund Balance$-4,507,829$-4,973,040▼ $465,211
Total Liabilities and Net Assets / Fund Balance$13,320,871$13,614,382▲ $293,511

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,565,731$1,040,370$9,606,101
Leasehold Improvements$642,498$490,804$1,133,302
Equipment$299,029$387,456$686,485
Other Assets Org$3,459,413--
Compensation and Service Providers
Top Officer Pay28th percentile

Board Members and Trustees

NameTitle
Larry BarronChair
Ellen HeckImmediate Past Chair
Shannon MearesVice Chair
April Ruffin-AdamsBoard Member
Brenda KennedyBoard Member
Chanita CoulterBoard Member
Dani Parker-MooreBoard Member
David FordBoard Member
Elizabeth RepettiBoard Member
Endia BealBoard Member
Jay KumarBoard Member
Joy BlaserBoard Member
Kimberly PembertonBoard Member
Kyle BarnesBoard Member
Letitia WallBoard Member
Maya GilliamBoard Member
Michelle LawrenceBoard Member
Tonya MonteiroBoard Member
Asher EllisFinance
Tomisha GladmanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$950,638
Program Service Revenue
$6,441,622
Investment Income
$0
Other Revenue
$0
All Other Contributions
$346,953
Change in Net Assets
$-465,211

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,392,260
Total Revenue per Audited Statements
$7,392,260
Total Revenue per Form 990
$7,392,260
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,035,989
Other Expenses$2,821,482
Total Fundraising Expense$1,143
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,560,426$19,807-$3,580,233
Pension Plan Contributions$783,802--$783,802
Depreciation Depletion$462,148$32,980$1,143$496,271
Other Employee Benefits$404,624--$404,624
Interest-$388,153-$388,153
Occupancy$238,597$59,649-$298,246
All Other Expenses$282,191--$282,191
Payroll Taxes$265,815$1,515-$267,330
Insurance-$25,089-$25,089
Other Expenses$15,305$12,257-$12,257
Fees for Services Accounting-$8,560-$8,560
Advertising-$257-$257
Total Functional Expenses$7,017,105$839,223$1,143$7,857,471

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,857,471
Total Expenses per Audited Statements$7,857,471
Total Expenses per Form 990$7,857,471
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 Leases$8,348,798
Compensated Absences$4,864,374
Federal income taxes$3,397,750
Net Pension Liability$1,548,175
Deferred Inflows$210,523
Net OPEB Liability$9,387
Building Lease Liability-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Acadia NorthStar, LLC performs accounting and business management services for the Organization.”

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

“Potential conflicts of interest are reviewed and resolved by the Board of Directors.”

Form 990, Part VI, Section B, Line 15

“The Board approves compensation of the Organizations top management official. Compensation is based on comparability data. The Board approves all compensation packages and compensation is based on comparability data.”

Form 990, Part VI, Section C, Line 18

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

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
The Arts Based School
EIN
56-2160330
Phone
3367484116
Address
1380 Martin Luther King Jr Drive, Winston Salem, NC 27101

Signing Officer

Name
Shannon Meares
Title
Board Chair
Phone
3367484116
Signed
2024-12-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shannon Meares
Formed
1999
Legal Domicile
Nc
Voting Board Members
20
Independent Board Members
20
Employees
104

Preparer

Firm
Rebekah Barr CPA PC
Address
2505-B Nash Street NW, Wilson, NC 27896
Preparer
Rebekah T Barr
Phone
2522946920
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The process for oversight of the audit and selection of an independent acountant has not changed from the prior year.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary
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IRS990/OtherExpensesGrp/Desc1Supplies, textbooks, resources
IRS990/OtherExpensesGrp/Desc2Food purchases
IRS990/OtherExpensesGrp/Desc3Repairs and Maintenance
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IRS990/PrincipalOfficerNm0Shannon Meares
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IRS990/ProgramServiceRevenueGrp/Desc2School Food Service
IRS990/ProgramServiceRevenueGrp/Desc3Other revenues
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11785871
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt292108
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt370647
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IRS990/PYExcessBenefitTransInd0false
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0387456
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Compensated Absences
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5Capital Leases
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6Building Lease Liability
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,614,382
Liabilities
$18,587,422
Net assets
-$4,973,040
Revenue
$7,392,260
Expenses
$7,857,471
Net income
-$465,211
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$14.1$19.1$4.97$8.13$8.13$0.00
2024Detailed filing. Detailed filing data is available for this year.$13.6$18.6$4.97$7.39$7.86$0.47
2023Detailed filing. Detailed filing data is available for this year.$13.3$17.8$4.51$6.49$6.60$0.11
2022Detailed filing. Detailed filing data is available for this year.$4.41$8.81$4.40$5.87$5.37$0.50
2021Detailed filing. Detailed filing data is available for this year.$4.44$9.34$4.90$5.72$5.14$0.59
2020Detailed filing. Detailed filing data is available for this year.$3.84$9.33$5.49$4.72$5.20$0.48
2019Summary only. Only limited summary data is available for this year.$3.59$8.60$5.01$4.76$4.75$0.01
2018Summary only. Only limited summary data is available for this year.$3.17$8.19$5.02$4.30$4.77$0.47
2017Detailed filing. Detailed filing data is available for this year.$3.06$1.64$1.43$4.52$4.45$0.06
2016Summary only. Only limited summary data is available for this year.$2.42$1.05$1.36$4.15$3.79$0.36
2015Summary only. Only limited summary data is available for this year.$1.94$0.94$1.01$4.08$3.56$0.52
2014Summary only. Only limited summary data is available for this year.$1.34$0.24$1.10$3.62$3.45$0.17
2013Summary only. Only limited summary data is available for this year.$1.16$0.24$0.92$2.87$2.72$0.15
2012Summary only. Only limited summary data is available for this year.$0.99$0.22$0.77$2.53$2.50$0.03
2011Summary only. Only limited summary data is available for this year.$1.02$0.28$0.74$2.48$2.52$0.05