Civic Intelligence

Frances Lacy Elementary School Foundation

990 • Fiscal year 2022 • EIN 56-2272645

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 25, 2023

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

55th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

56th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

8th percentile

-70%

Higher net margin than 8% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

8th percentile

-57%

Faster asset growth than 8% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

52nd percentile

12%

Faster revenue growth than 52% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$141,381

Down $189,127 (-57%) from 2021

Net Assets

Down

$141,381

Down $189,127 (-57%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue

Up

$293,646

Up $31,076 (+12%) from 2021

Expenses

Up

$500,251

Up $293,943 (+142%) from 2021

Net Income

Down

-$206,605

Down $262,867 (-467%) from 2021

Historical Trend

Balance Sheet Trend

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

2022

Assets$141,381
Liabilities$0
Net Assets$141,381

Operations Trend

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

2022

Revenue$293,646
Expenses$500,251
Net Income-$206,605
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 25, 2023
Return Version
2021v4.2
Gross Receipts
$352,869
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$330,508$141,381▼ $189,127
Investments Other Securities$37,048$37,837▲ $789
Cash and Non-Interest-Bearing Accounts$244,168$27,576▼ $216,592
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$330,508$141,381▼ $189,127
Other Assets Total$49,292$75,968▲ $26,676
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$330,508$141,381▼ $189,127
Total Liabilities and Net Assets / Fund Balance$330,508$141,381▼ $189,127

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$75,968--
Other Securities$37,837--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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

Board Members and Trustees

NameTitle
Emmett PerduePast President
Wesley GelbPresident
Kimberly MillerPresident Elect
Ela GardnerDirector
Kristen PatchDirector
Sarah ThammDirector
Tori-Ann HerwigDirector
CarolAnn WiggsAdvisor
Craig KollerAdvisor
Danny LumsdenAdvisor
Eleanor Scott DavisAdvisor
Elizabeth TalleyAdvisor
Erin DelkAdvisor
Joe DaviesAdvisor
Katie GodinAdvisor
Laurie CampbellAdvisor
Nikki CordermanAdvisor
Patrick GockeAdvisor
Sherri MillerPrincipal
Ashley SilvermanPTA Liaison
Emily FunderburkPTA Liaison
Allison WeaverSecretary
Lucy AustinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$266,083
Program Service Revenue
$0
Investment Income
$10,880
Other Revenue
$16,683
All Other Contributions
$9,366
Change in Net Assets
$-206,605
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$495,800
Other Expenses$4,451
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$495,800--$495,800
Other Expenses-$1,566-$1,566
Office Expenses-$1,176-$1,176
Fees for Service Investment Mgmnt Fees-$893-$893
Insurance-$816-$816
Total Functional Expenses$495,800$4,451$0$500,251
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$75,906
Fundraising Direct Expenses$59,223
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Laps for Lacy$79,711-$43,942-
Lacy Live$248,912$71,906$13,665$58,241
Total Events$332,623$75,906$59,223$16,683
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
2023-02-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wesley Gelb
Formed
2001
Legal Domicile
Nc
Voting Board Members
23
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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IRS990/InsuranceGrp/TotalAmt0816
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt03249
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt03249
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt037048
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt037837
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NC
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0To 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0330508
IRS990/NetAssetsOrFundBalancesEOYAmt0141381
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt07631
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt07631
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt016683
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt016683
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt017478
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01176
IRS990/OfficeExpensesGrp/TotalAmt01176
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt049292
IRS990/OtherAssetsTotalGrp/EOYAmt075968
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Bank Service Charges
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01566
IRS990/OtherExpensesGrp/TotalAmt01566
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Wesley Gelb
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0264339
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0202675
IRS990/PYInvestmentIncomeAmt03222
IRS990/PYOtherExpensesAmt03633
IRS990/PYOtherRevenueAmt0-4991
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt056262
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0206308
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0262570
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/ReconcilationRevenueExpnssAmt0-206605
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0330508
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0141381
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0341989
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0312517
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0228609
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0185940
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0184916
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01253971
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt01253971
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0341989
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0312517
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0228609
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0185940
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0184916
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01253971
IRS990ScheduleA/TotalSupportAmt01253971
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0828
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt049292
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt040000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt075968
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-12496
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0445
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt038408
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt049292
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt011329
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0317
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt035900
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt038408
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt02825
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd01
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt075968
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0The Marcia Alford Endowment Fund
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt037837
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/TotalBookValueOtherAssetsAmt075968
IRS990ScheduleD/TotalBookValueSecuritiesAmt037837
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0256717
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0177006
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt079711
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt059223
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Lacy Live
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Laps for Lacy
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt01583
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt01583
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0248912
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt079711
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt04000
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0332623
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt071906
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt04000
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt075906
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt016683
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt033
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt057640
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt013665
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt043942
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt01
IRS990/ScheduleJRequiredInd00

Document Assets

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Filings

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
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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