Civic Intelligence

Frances Lacy Elementary School Foundation

990 • Fiscal year 2023 • EIN 56-2272645

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 23, 2024

Organization Profilewww.lacyfoundation.org
2001 Lake Boone TrailRaleigh, NC 27607

(704) 619-6629

Siviq Scores

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

Liabilities / Assets

68th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE B • <$500k nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE B • <$500k nonprofits • Source year 2023

Net Margin

27th percentile

-7.0%

Higher net margin than 27% of similar nonprofits.

2023 filings • NTEE B • <$500k nonprofits • Source year 2023

Top Officer Pay

86th percentile

$0

Higher top officer pay than 86% of similar nonprofits.

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

2023 filings • NTEE B • <$500k nonprofits • Source year 2023

Asset Growth

33rd percentile

-7.4%

Faster asset growth than 33% of similar nonprofits.

2023 filings • NTEE B • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

57th percentile

14%

Faster revenue growth than 57% of similar nonprofits.

2023 filings • NTEE B • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$130,915

Down $10,466 (-7.4%) from 2022

Net Assets

Down

$130,915

Down $10,466 (-7.4%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin27th percentile

Revenue

Up

$334,080

Up $40,434 (+14%) from 2022

Expenses

Down

$357,447

Down $142,804 (-29%) from 2022

Net Income

Up

-$23,367

Up $183,238 (+89%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$400K$300K$200K$100K$0Assets 2011: $114,885Liabilities 2011: $02011Assets 2012: $140,671Liabilities 2012: $02012Assets 2013: $152,227Liabilities 2013: $02013Assets 2014: $175,001Liabilities 2014: $02014Assets 2015: $175,373Net Assets 2015: $175,3732015Assets 2016: $172,541Liabilities 2016: $0Net Assets 2016: $172,5412016Assets 2017: $176,202Liabilities 2017: $0Net Assets 2017: $176,2022017Assets 2018: $167,121Liabilities 2018: $0Net Assets 2018: $167,1212018Assets 2019: $174,756Liabilities 2019: $0Net Assets 2019: $174,7562019Assets 2020: $250,736Liabilities 2020: $0Net Assets 2020: $250,7362020Assets 2021: $330,508Liabilities 2021: $0Net Assets 2021: $330,5082021Assets 2022: $141,381Liabilities 2022: $0Net Assets 2022: $141,3812022Assets 2023: $130,915Liabilities 2023: $0Net Assets 2023: $130,9152023Assets 2024: $194,960Liabilities 2024: $0Net Assets 2024: $194,9602024Assets 2025: $186,972Liabilities 2025: $0Net Assets 2025: $186,9722025

Highlighted filing

2023

Assets$130,915
Liabilities$0
Net Assets$130,915
Open 2023 Filing

Operations Trend

Revenue Growth57th percentile

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

$600K$400K$200K$0-$200K-$400KRevenue 2011: $111,645Expenses 2011: $138,672Net Income 2011: -$27,0272011Revenue 2012: $139,867Expenses 2012: $114,081Net Income 2012: $25,7862012Revenue 2013: $153,980Expenses 2013: $142,424Net Income 2013: $11,5562013Revenue 2014: $172,356Expenses 2014: $149,582Net Income 2014: $22,7742014Revenue 2015: $151,351Expenses 2015: $150,979Net Income 2015: $3722015Revenue 2016: $182,564Expenses 2016: $185,116Net Income 2016: -$2,5522016Revenue 2017: $162,658Expenses 2017: $159,060Net Income 2017: $3,5982017Revenue 2018: $165,886Expenses 2018: $177,418Net Income 2018: -$11,5322018Revenue 2019: $164,262Expenses 2019: $156,627Net Income 2019: $7,6352019Revenue 2020: $196,652Expenses 2020: $132,494Net Income 2020: $64,1582020Revenue 2021: $262,570Expenses 2021: $206,308Net Income 2021: $56,2622021Revenue 2022: $293,646Expenses 2022: $500,251Net Income 2022: -$206,6052022Revenue 2023: $334,080Expenses 2023: $357,447Net Income 2023: -$23,3672023Revenue 2024: $371,485Expenses 2024: $343,081Net Income 2024: $28,4042024Revenue 2025: $338,823Expenses 2025: $359,572Net Income 2025: -$20,7492025

Highlighted filing

2023

Revenue$334,080
Expenses$357,447
Net Income-$23,367
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 23, 2024
Return Version
2022v5.0
Gross Receipts
$396,901
Mission and Program Overview

Mission

To provide for teachers and assistant teachers' salaries and benefits for additional positions outside of state budget to increase literacy and overall educational achievement goals at Frances Lacy Elementary School.

To enrich the educational experience for all Frances Lacy Elementary Students by funding assistant teachers and specialists' salaries that are out of the scope of the state budget.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$141,381$130,915▼ $10,466
Investments Other Securities$37,837$28,656▼ $9,181
Cash and Non-Interest-Bearing Accounts$27,576$20,808▼ $6,768
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$141,381$130,915▼ $10,466
Other Assets Total$75,968$81,451▲ $5,483
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$141,381$130,915▼ $10,466
Total Liabilities and Net Assets / Fund Balance$141,381$130,915▼ $10,466

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$81,451--
Other Securities$28,656--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$75,968-▲ $6,259-$81,451
2021$49,292$40,000▼ $12,496-$75,968
2020$38,408-▲ $11,329-$49,292
2019-$35,900▲ $2,825-$38,408
Compensation and Service Providers
Top Officer Pay86th percentile

Board Members and Trustees

NameTitle
Sarah ThammChair
Wesley GelbPast President
Kimberly MillerPresident
Danny LumsdenPresident Elect
Ela GardnerDirector
Craig KollerAdvisor
Tori-Ann HerwigAdvisor
Sherri MillerPrincipal
Sara PerduePTA Liaison
Suzanne PiercePTA Liaison
Maggie CloughertySecretary
Meredith SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$261,813
Program Service Revenue
$0
Investment Income
$17,273
Other Revenue
$54,994
All Other Contributions
$10,669
Change in Net Assets
$-23,367
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$353,500
Other Expenses$3,947
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$353,500--$353,500
Other Expenses-$1,168-$1,168
Office Expenses-$1,047-$1,047
Fees for Service Investment Mgmnt Fees-$871-$871
Insurance-$861-$861
Total Functional Expenses$353,500$3,947$0$357,447
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$102,427
Fundraising Direct Expenses$47,433
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Lacy Live$281,462$99,577$18,005$81,572
Laps for Lacy$69,259-$19,259-
Total Events$353,571$102,427$47,433$54,994
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“A review of current year Form 990 is reviewed, approved and then signed by the Treasurer.”

Form 990, Part VI, Section C, line 19

“Governing Documents, conflict of interest policy, and financial statements are available by request in writing to the board of directors.”

Filing and Contact Details

Filer

Filer Name
Frances Lacy Elementary Foundation
EIN
56-2272645
Phone
7046196629
Address
2001 Lake Boone Trail, Raleigh, NC 27607

Signing Officer

Name
Meredith Smith
Title
Treasurer
Phone
7046196629
Signed
2024-02-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kimberly Miller
Formed
2001
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Heroux & Company LLP
Address
4700 Falls of Neuse Road Suite 110, Raleigh, NC 27609
Preparer
John P Heroux CPA
Phone
9197889570
Supplemental Narrative

Financial Statement Notes

Part V, Line 4:

“The Marcia Alford Endowment is intended to be used as long-term planning and support for the Foundation. Currently the funding of additional teaching positions is the result of year to year fundraising efforts. With continued and sufficient growth of the Endowment, the hope is to have the ability to use this as an additional funding vehicle to provide support for one or more teaching positions every year.”

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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/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0341989
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0312517
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0228609
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0185940
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01433294
IRS990ScheduleA/TotalSupportAmt01433294
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0776
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt075968
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt081451
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt06259
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0828
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt049292
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt040000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt075968
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-12496
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0445
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt038408
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt049292
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt011329
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt0317
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt035900
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt038408
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02825
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd01
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt081451
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0The Marcia Alford Endowment Fund
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt028656
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Merrill Lynch Brokerage Account
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Marcia Alford Endowment is intended to be used as long-term planning and support for the Foundation. Currently the funding of additional teaching positions is the result of year to year fundraising efforts. With continued and sufficient growth of the Endowment, the hope is to have the ability to use this as an additional funding vehicle to provide support for one or more teaching positions every year.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt081451
IRS990ScheduleD/TotalBookValueSecuritiesAmt028656
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0251144
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0181885
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt069259
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt047433
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt02995
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt02995
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Lacy Live
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Laps for Lacy
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt03844
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt03844
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0281462
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt069259
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt02850
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0353571
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt099577
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt02850
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0102427
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt054994
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt01330
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt038594
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt018005
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt019259
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt01
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt02000
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt02000
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A review of current year Form 990 is reviewed, approved and then signed by the Treasurer.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Governing Documents, conflict of interest policy, and financial statements are available by request in writing to the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0353500
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Per Wake County Public School Sys
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Frances Lacy Elementary School
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0141381
IRS990/TotalAssetsEOYAmt0130915
IRS990/TotalAssetsGrp/BOYAmt0141381
IRS990/TotalAssetsGrp/EOYAmt0130915
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0261813
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03947
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0353500
IRS990/TotalFunctionalExpensesGrp/TotalAmt0357447
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0141381
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0130915
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0353500
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt054994
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt017273
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0334080
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0141381
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0130915
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd01
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02001 Lake Boone Trail
IRS990/USAddress/CityNm0Raleigh

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$130,915
Liabilities
$0
Net assets
$130,915
Revenue
$334,080
Expenses
$357,447
Net income
-$23,367
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.87$0.00$1.87$3.39$3.60$0.21
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.95$0.00$1.95$3.71$3.43$0.28
2023Detailed filing. Detailed filing data is available for this year.$1.31$0.00$1.31$3.34$3.57$0.23
2022Detailed filing. Detailed filing data is available for this year.$1.41$0.00$1.41$2.94$5.00$2.07
2021Detailed filing. Detailed filing data is available for this year.$3.31$0.00$3.31$2.63$2.06$0.56
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.51$0.00$2.51$1.97$1.32$0.64
2019Detailed filing. Detailed filing data is available for this year.$1.75$0.00$1.75$1.64$1.57$0.08
2018Detailed filing. Detailed filing data is available for this year.$1.67$0.00$1.67$1.66$1.77$0.12
2017Detailed filing. Detailed filing data is available for this year.$1.76$0.00$1.76$1.63$1.59$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.73$0.00$1.73$1.83$1.85$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.75$1.75$1.51$1.51$0.00
2014Summary only. Only limited summary data is available for this year.$1.75$0.00$1.72$1.50$0.23
2013Summary only. Only limited summary data is available for this year.$1.52$0.00$1.54$1.42$0.12
2012Summary only. Only limited summary data is available for this year.$1.41$0.00$1.40$1.14$0.26
2011Summary only. Only limited summary data is available for this year.$1.15$0.00$1.12$1.39$0.27