Civic Intelligence

Northeast Raleigh Charter Academy

EIN 56-2160665 • 501(c)3 • Raleigh, NC

Profile

Operate a public charter school

3211 Bramer DriveRaleigh, NC 27604

www.torchlightacademy.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

82nd percentile

0.56x

Higher debt load relative to assets than 82% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

15th percentile

0.01x

Higher debt load relative to revenue than 15% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

29th percentile

-3.3%

Higher net margin than 29% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

2nd percentile

-75%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

24th percentile

-7.4%

Faster revenue growth than 24% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$80,286

Down $236,341 (-75%) from 2021

Liabilities

Down

$44,807

Down $6,253 (-12%) from 2021

Net Assets

Down

$35,479

Down $230,088 (-87%) from 2021

Operations
Liabilities / Revenue15th percentileNet Margin29th percentile

Revenue

Down

$7,033,249

Down $565,937 (-7.4%) from 2021

Expenses

Down

$7,263,337

Down $243,641 (-3.2%) from 2021

Net Income

Down

-$230,088

Down $322,296 (-350%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth2nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0Assets 2011: $714,387Liabilities 2011: $313,018Net Assets 2011: $401,3692011Assets 2012: $646,148Liabilities 2012: $235,539Net Assets 2012: $410,6092012Assets 2013: $625,664Liabilities 2013: $141,894Net Assets 2013: $483,7702013Assets 2014: $586,637Liabilities 2014: $101,928Net Assets 2014: $484,7092014Assets 2015: $808,156Liabilities 2015: $63,264Net Assets 2015: $744,8922015Assets 2016: $552,982Liabilities 2016: $84,933Net Assets 2016: $468,0492016Assets 2017: $368,133Liabilities 2017: $110,715Net Assets 2017: $257,4182017Assets 2018: $319,079Liabilities 2018: $38,629Net Assets 2018: $280,4502018Assets 2019: $223,600Liabilities 2019: $45,765Net Assets 2019: $177,8352019Assets 2020: $401,100Liabilities 2020: $227,741Net Assets 2020: $173,3592020Assets 2021: $316,627Liabilities 2021: $51,060Net Assets 2021: $265,5672021Assets 2022: $80,286Liabilities 2022: $44,807Net Assets 2022: $35,4792022

Highlighted filing

2022

Assets$80,286
Liabilities$44,807
Net Assets$35,479
Open 2022 Filing

Operations Trend

Revenue Growth24th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $3,487,5772011Expenses 2012: $3,378,9712012Revenue 2013: $3,408,194Expenses 2013: $3,335,033Net Income 2013: $73,1612013Revenue 2014: $3,881,329Expenses 2014: $3,880,390Net Income 2014: $9392014Revenue 2015: $4,038,345Expenses 2015: $3,778,162Net Income 2015: $260,1832015Revenue 2016: $4,791,155Expenses 2016: $5,067,998Net Income 2016: -$276,8432016Revenue 2017: $5,077,838Expenses 2017: $5,288,469Net Income 2017: -$210,6312017Revenue 2018: $5,101,683Expenses 2018: $5,078,651Net Income 2018: $23,0322018Revenue 2019: $6,140,307Expenses 2019: $6,242,922Net Income 2019: -$102,6152019Revenue 2020: $6,359,034Expenses 2020: $6,363,510Net Income 2020: -$4,4762020Revenue 2021: $7,599,186Expenses 2021: $7,506,978Net Income 2021: $92,2082021Revenue 2022: $7,033,249Expenses 2022: $7,263,337Net Income 2022: -$230,0882022

Highlighted filing

2022

Revenue$7,033,249
Expenses$7,263,337
Net Income-$230,088
Open 2022 Filing

Filings

Most recent year

2022 • Form 990Summary only. Only limited summary data is available for this year.

Open filing
Assets
$80,286
Liabilities
$44,807
Net assets
$35,479
Revenue
$7,033,249
Expenses
$7,263,337
Net income
-$230,088
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Summary only. Only limited summary data is available for this year.$0.08$0.04$0.04$7.03$7.26$0.23
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.05$0.27$7.60$7.51$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.40$0.23$0.17$6.36$6.36$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$0.05$0.18$6.14$6.24$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.32$0.04$0.28$5.10$5.08$0.02
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.11$0.26$5.08$5.29$0.21
2016Detailed filing. Detailed filing data is available for this year.$0.55$0.08$0.47$4.79$5.07$0.28
2015Detailed filing. Detailed filing data is available for this year.$0.81$0.06$0.74$4.04$3.78$0.26
2014Detailed filing. Detailed filing data is available for this year.$0.59$0.10$0.48$3.88$3.88$0.00
2013Summary only. Only limited summary data is available for this year.$0.63$0.14$0.48$3.41$3.34$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.24$0.41$3.38
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.71$0.31$0.40$3.49
Latest Detailed Filing

The latest 2022 filing currently has summary financial data only. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 22, 2022
Return Version
2020v4.1
Gross Receipts
$7,599,186
Mission and Program Overview

Mission

Operate a public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$118,308$212,152▲ $93,844
Land, Buildings, and Equipment, Net$65,945$59,811▼ $6,134
Accounts Receivable$216,847$44,664▼ $172,183
Total Assets$401,100$316,627▼ $84,473
Liabilities
Accounts Payable and Accrued Expenses$227,741$51,060▼ $176,681
Total Liabilities$227,741$51,060▼ $176,681
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$107,414$205,756▲ $98,342
Net Assets With Donor Restrictions$65,945$59,811▼ $6,134
Total Net Assets Fund Balance$173,359$265,567▲ $92,208
Total Liabilities and Net Assets / Fund Balance$401,100$316,627▼ $84,473

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$206,026$206,026
Leasehold Improvements$59,811$90,080$149,891
Land$0--
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Pam Banks-LeeChair
Claude LeeDirector
Diana PowellDirector
James MontagueDirector
Wonza MontigueDirector
Dr Iyailu MosesMember
Tyjuanna LaBennetteSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Torchlight Academy Schools LLCEducation ManagementPO Box 19191, Raleigh, NC 27819$6,953,550
Revenue and Support

Revenue Composition

Contributions and Grants
$7,597,539
Program Service Revenue
$73
Investment Income
$0
Other Revenue
$1,574
All Other Contributions
$2,100
Change in Net Assets
$92,208

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,599,186
Total Revenue per Audited Statements
$7,599,186
Total Revenue per Form 990
$7,599,186
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,964,583
Salaries, Compensation, and Employee Benefits$542,395
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$472,381$0$0$472,381
Payroll Taxes$35,945$0$0$35,945
Other Employee Benefits$34,069$0$0$34,069
Depreciation Depletion$0$6,134$0$6,134
Other Expenses$4,255$0$0$4,255
Office Expenses$644$0$0$644
Total Functional Expenses$7,500,844$6,134$0$7,506,978

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,506,978
Total Expenses per Audited Statements$7,506,978
Total Expenses per Form 990$7,506,978
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Filing and Contact Details

Filer

Filer Name
Northeast Raleigh Charter Academy
EIN
56-2160665
Phone
9198509960
Address
3211 Bramer Drive, Raleigh, NC 27604

Signing Officer

Name
Pam Banks-Lee
Title
Chair
Phone
9198509960
Signed
2022-03-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don McQueen
Formed
1999
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
7
Volunteers
28

Preparer

Firm
Darrell L Keller CPA PA
Address
PO Box 1028, Kings Mountain, NC 28086
Preparer
Darrell L Keller
Phone
7047390771
Supplemental Narrative

Additional Explanations

Pt VI, Line 15B

“Compared to other charter schools and if budget can work.”

Pt VI, Line 11B

“The Executive Director and Board review prior to filing.”

Pt VI, Line 12C

“Board members sign Conflict of Interest annually.”

Pt VI, Line 15A

“Compared to other charter schools and if budget can work.”

Pt VI, Line 2

“Husband and wife both sit on the board”

Pt VI, Line 3

“All revenues paid to EMO which manages all aspects of the school and its operations”

Raw XML Appendix397 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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IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0206026
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0206026
IRS990ScheduleD/ExpensesSubtotalAmt07506978
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt059811
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt090080
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0149891
IRS990ScheduleD/RevenueSubtotalAmt07599186
IRS990ScheduleD/TotalBookValueLandBuildingsAmt059811
IRS990ScheduleD/TotalExpensesPerForm990Amt07506978
IRS990ScheduleD/TotalRevenuePerForm990Amt07599186
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07599186
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07506978
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/ExplanationTxt0The policy is included in all print material, including any newspaper advertisements. Explanation provided on page 1.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Federal Grants as awarded annually.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Compared to other charter schools and if budget can work.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Executive Director and Board review prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board members sign Conflict of Interest annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compared to other charter schools and if budget can work.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Husband and wife both sit on the board
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5All revenues paid to EMO which manages all aspects of the school and its operations
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 3
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0401100
IRS990/TotalAssetsEOYAmt0316627
IRS990/TotalAssetsGrp/BOYAmt0401100
IRS990/TotalAssetsGrp/EOYAmt0316627
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt07597539
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06134
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt07500844
IRS990/TotalFunctionalExpensesGrp/TotalAmt07506978
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0227741
IRS990/TotalLiabilitiesEOYAmt051060
IRS990/TotalLiabilitiesGrp/BOYAmt0227741
IRS990/TotalLiabilitiesGrp/EOYAmt051060
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0173359
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0265567
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt07500844
IRS990/TotalProgramServiceRevenueAmt073
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01647
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07599186
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt028
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0401100
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0316627
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03211 Bramer Drive
IRS990/USAddress/CityNm0Raleigh
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027604
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.torchlightacademy.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Pam Banks-Lee
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum09198509960
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-03-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Northeast Raleigh Charter Academy
ReturnHeader/Filer/BusinessNameControlTxt0NORT
ReturnHeader/Filer/EIN0562160665
ReturnHeader/Filer/PhoneNum09198509960
ReturnHeader/Filer/USAddress/AddressLine1Txt03211 Bramer Drive
ReturnHeader/Filer/USAddress/CityNm0Raleigh
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027604
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Darrell L Keller CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO Box 1028
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Kings Mountain
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028086
ReturnHeader/PreparerPersonGrp/PhoneNum07047390771
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Darrell L Keller
ReturnHeader/ReturnTs02022-05-04T07:12:16-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Pam
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Banks-Lee
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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