Civic Intelligence

Alpha Academy Inc.

990 • Fiscal year 2023 • EIN 56-2200096

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 13, 2024

Organization Profilewww.alphaacademy.education

View Organization Page

PO Box 26179Fayetteville, NC 28314

(910) 223-7711

Siviq Scores

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

Liabilities / Assets

34th percentile

0.43x

Higher debt load relative to assets than 34% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

49th percentile

0.78x

Higher debt load relative to revenue than 49% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Net Margin

85th percentile

11%

Higher net margin than 85% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Asset Growth

38th percentile

5.4%

Faster asset growth than 38% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

91st percentile

30%

Faster revenue growth than 91% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$22,110,907

Up $1,135,421 (+5.4%) from 2022

Net Assets

Up

$12,501,668

Up $2,333,261 (+23%) from 2022

Liabilities

Down

$9,609,239

Down $1,197,840 (-11%) from 2022

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin85th percentile

Revenue

Up

$12,338,690

Up $2,864,254 (+30%) from 2022

Expenses

Up

$10,965,565

Up $321,373 (+3.0%) from 2022

Net Income

Up

$1,373,125

Up $2,542,881 (+217%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

$30M$20M$10M$0Assets 2012: $4,302,878Liabilities 2012: $2,834,104Net Assets 2012: $1,468,7742012Assets 2013: $5,587,504Liabilities 2013: $3,783,385Net Assets 2013: $1,804,1192013Assets 2014: $6,368,171Liabilities 2014: $3,668,846Net Assets 2014: $2,699,3252014Assets 2015: $8,948,692Liabilities 2015: $5,273,375Net Assets 2015: $3,675,3172015Assets 2016: $12,937,197Liabilities 2016: $8,211,919Net Assets 2016: $4,725,2782016Assets 2017: $13,638,449Liabilities 2017: $8,050,208Net Assets 2017: $5,588,2412017Assets 2018: $14,492,486Liabilities 2018: $7,741,366Net Assets 2018: $6,751,1202018Assets 2019: $15,672,366Liabilities 2019: $7,913,069Net Assets 2019: $7,759,2972019Assets 2020: $20,359,972Liabilities 2020: $11,509,722Net Assets 2020: $8,850,2502020Assets 2021: $22,768,477Liabilities 2021: $11,430,314Net Assets 2021: $11,338,1632021Assets 2022: $20,975,486Liabilities 2022: $10,807,079Net Assets 2022: $10,168,4072022Assets 2023: $22,110,907Liabilities 2023: $9,609,239Net Assets 2023: $12,501,6682023Assets 2024: $23,244,613Liabilities 2024: $9,081,827Net Assets 2024: $14,162,7862024

Highlighted filing

2023

Assets$22,110,907
Liabilities$9,609,239
Net Assets$12,501,668
Open 2023 Filing

Operations Trend

Revenue Growth91st percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2012: $1,703,0182012Expenses 2013: $2,264,3942013Revenue 2014: $4,091,507Expenses 2014: $3,196,301Net Income 2014: $895,2062014Revenue 2015: $4,327,711Expenses 2015: $3,351,719Net Income 2015: $975,9922015Revenue 2016: $5,359,934Expenses 2016: $4,309,973Net Income 2016: $1,049,9612016Revenue 2017: $5,486,591Expenses 2017: $4,623,628Net Income 2017: $862,9632017Revenue 2018: $6,480,676Expenses 2018: $5,317,797Net Income 2018: $1,162,8792018Revenue 2019: $6,831,189Expenses 2019: $5,823,012Net Income 2019: $1,008,1772019Revenue 2020: $7,499,451Expenses 2020: $6,408,498Net Income 2020: $1,090,9532020Revenue 2021: $9,526,287Expenses 2021: $7,038,374Net Income 2021: $2,487,9132021Revenue 2022: $9,474,436Expenses 2022: $10,644,192Net Income 2022: -$1,169,7562022Revenue 2023: $12,338,690Expenses 2023: $10,965,565Net Income 2023: $1,373,1252023Revenue 2024: $12,844,250Expenses 2024: $11,183,132Net Income 2024: $1,661,1182024

Highlighted filing

2023

Revenue$12,338,690
Expenses$10,965,565
Net Income$1,373,125
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 13, 2024
Return Version
2022v5.0
Gross Receipts
$12,338,690
Mission and Program Overview

Mission

North Carolina Public Charter School

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,191,931$15,860,325▼ $331,606
Cash and Non-Interest-Bearing Accounts$4,653,427$6,246,841▲ $1,593,414
Accounts Receivable$128,928$3,741▼ $125,187
Prepaid Expenses and Deferred Charges$1,200--
Total Assets$20,975,486$22,110,907▲ $1,135,421
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,698,675$9,586,834▼ $1,111,841
Accounts Payable and Accrued Expenses$108,404$22,405▼ $85,999
Total Liabilities$10,807,079$9,609,239▼ $1,197,840
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,168,407$12,501,668▲ $2,333,261
Total Net Assets Fund Balance$10,168,407$12,501,668▲ $2,333,261
Total Liabilities and Net Assets / Fund Balance$20,975,486$22,110,907▲ $1,135,421

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,195,243$2,872,129$16,067,372
Land$2,212,307-$2,212,307
Equipment$452,775$899,665$1,352,440
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Simon JohnsonChair
Alvin BreedenDirector
Nadine ClipperDirector
Connie SanchezSecretary
Barbara BattsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,128,029
Program Service Revenue
$10,210,661
Investment Income
$0
Other Revenue
$0
All Other Contributions
$14,563
Change in Net Assets
$1,373,125

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,338,690
Total Revenue per Audited Statements
$12,338,690
Total Revenue per Form 990
$12,338,690
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,578,499
Other Expenses$5,387,066
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,343,777$1,330,051-$4,673,828
Depreciation Depletion$660,115$220,039-$880,154
Other Employee Benefits$368,853$81,796-$450,649
Payroll Taxes$295,832$100,197-$396,029
Interest-$379,575-$379,575
Other Expenses$286,346$349,344-$286,346
Fees for Services Legal-$176,465-$176,465
Occupancy$129,360$14,373-$143,733
All Other Expenses$67,864--$67,864
Pension Plan Contributions$49,190$8,803-$57,993
Advertising-$17,570-$17,570
Fees for Services Accounting-$16,100-$16,100
Total Functional Expenses$6,881,705$4,083,860$0$10,965,565

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,965,565
Total Expenses per Audited Statements$10,965,565
Total Expenses per Form 990$10,965,565
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
Federal income taxes-
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
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Related party information among officers - Eugene Slocum, superintendent and Susan Slocum, operations director are spouses.”

Form 990, Part VI, Section B, Line 11B

“The executive director reviews the 990 and presents to the board of directors for approval.”

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

“At monthly board meetings the board discusses any potential conflicts of interest. If any member has a potential conflict that person does not participate in the decision-making process or vote on the matter.”

Form 990, Part VI, Section B, Line 15A

“Executive directors compensation is approved by the board and is based on comparability data and performance.”

Form 990, Part VI, Section B, Line 15B

“Officers do not receive compensation. Key employees salaries are based on the state salary scale.”

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
Alpha Academy INC
EIN
56-2200096
In Care Of
% Simon Johnson
Phone
9102237711
Address
PO Box 26179, Fayetteville, NC 28314

Signing Officer

Name
Simon Johnson
Title
Chair
Phone
9102237711
Signed
2024-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Simon Johnson
Formed
2000
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
168
Volunteers
25

Preparer

Firm
Rebekah Barr CPA PC
Address
1520 Nash Street N, Wilson, NC 27893
Preparer
Rebekah T Barr
Phone
2522946920
Raw XML Appendix382 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/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt012338690
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015860325
IRS990ScheduleD/TotalExpensesPerForm990Amt010965565
IRS990ScheduleD/TotalRevenuePerForm990Amt012338690
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012338690
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt010965565
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 the State and Local Governments. The School also receives various federal grants.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Related party information among officers - Eugene Slocum, superintendent and Susan Slocum, operations director are spouses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The executive director reviews the 990 and presents to the board of directors for approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2At monthly board meetings the board discusses any potential conflicts of interest. If any member has a potential conflict that person does not participate in the decision-making process or vote on the matter.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Executive directors compensation is approved by the board and is based on comparability data and performance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Officers do not receive compensation. Key employees salaries are based on the state salary scale.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents, school policies, and financial statements are available for viewing by the public at the organizations office upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 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/TotalAssetsBOYAmt020975486
IRS990/TotalAssetsEOYAmt022110907
IRS990/TotalAssetsGrp/BOYAmt020975486
IRS990/TotalAssetsGrp/EOYAmt022110907
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02128029
IRS990/TotalEmployeeCnt0168
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04083860
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06881705
IRS990/TotalFunctionalExpensesGrp/TotalAmt010965565
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010807079
IRS990/TotalLiabilitiesEOYAmt09609239
IRS990/TotalLiabilitiesGrp/BOYAmt010807079
IRS990/TotalLiabilitiesGrp/EOYAmt09609239
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt010168407
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt012501668
IRS990/TotalProgramServiceExpensesAmt06881705
IRS990/TotalProgramServiceRevenueAmt010210661
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt012338690
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt020975486
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt022110907
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 35476
IRS990/USAddress/CityNm0Fayetteville
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028303
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0https://www.alphaacademy.education/
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Simon Johnson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum09102237711
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Alpha Academy INC
ReturnHeader/Filer/BusinessNameControlTxt0ALPH
ReturnHeader/Filer/EIN0562200096
ReturnHeader/Filer/InCareOfNm0% Simon Johnson
ReturnHeader/Filer/PhoneNum09102237711
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 26179
ReturnHeader/Filer/USAddress/CityNm0Fayetteville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028314
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271832948
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rebekah Barr CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01520 Nash Street N
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027893
ReturnHeader/PreparerPersonGrp/PhoneNum02522946920
ReturnHeader/PreparerPersonGrp/PreparationDt02024-02-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah T Barr
ReturnHeader/ReturnTs02024-02-13T03:19:31-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Simon
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Johnson
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,110,907
Liabilities
$9,609,239
Net assets
$12,501,668
Revenue
$12,338,690
Expenses
$10,965,565
Net income
$1,373,125
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$23.2$9.08$14.2$12.8$11.2$1.66
2023Detailed filing. Detailed filing data is available for this year.$22.1$9.61$12.5$12.3$11.0$1.37
2022Detailed filing. Detailed filing data is available for this year.$21.0$10.8$10.2$9.47$10.6$1.17
2021Detailed filing. Detailed filing data is available for this year.$22.8$11.4$11.3$9.53$7.04$2.49
2020Detailed filing. Detailed filing data is available for this year.$20.4$11.5$8.85$7.50$6.41$1.09
2019Detailed filing. Detailed filing data is available for this year.$15.7$7.91$7.76$6.83$5.82$1.01
2018Detailed filing. Detailed filing data is available for this year.$14.5$7.74$6.75$6.48$5.32$1.16
2017Detailed filing. Detailed filing data is available for this year.$13.6$8.05$5.59$5.49$4.62$0.86
2016Detailed filing. Detailed filing data is available for this year.$12.9$8.21$4.73$5.36$4.31$1.05
2015Detailed filing. Detailed filing data is available for this year.$8.95$5.27$3.68$4.33$3.35$0.98
2014Detailed filing. Detailed filing data is available for this year.$6.37$3.67$2.70$4.09$3.20$0.90
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.59$3.78$1.80$2.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.30$2.83$1.47$1.70