Civic Intelligence

Kerr-Vance Academy Inc

990 • Fiscal year 2021 • EIN 56-6085497

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 04, 2022

Organization ProfileWWW.KERRVANCE.COM

View Organization Page

700 Kerr Vance Academy RoadHenderson, NC 27537

(252) 492-0018

Siviq Scores

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

Liabilities / Assets

91st percentile

0.82x

Higher debt load relative to assets than 91% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

89th percentile

1.37x

Higher debt load relative to revenue than 89% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

15th percentile

-10%

Higher net margin than 15% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

62nd percentile

$83,700

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 5.3% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

22nd percentile

-1.6%

Faster asset growth than 22% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

8th percentile

-35%

Faster revenue growth than 8% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$2,635,444

Down $42,218 (-1.6%) from 2020

Net Assets

Down

$466,624

Down $162,109 (-26%) from 2020

Liabilities

Up

$2,168,820

Up $119,891 (+5.9%) from 2020

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin15th percentile

Revenue

Down

$1,584,516

Down $857,323 (-35%) from 2020

Expenses

Down

$1,746,625

Down $183,373 (-9.5%) from 2020

Net Income

Down

-$162,109

Down $673,950 (-132%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$4.0M$2.0M$0-$2.0MAssets 2012: $3,441,954Liabilities 2012: $3,863,312Net Assets 2012: -$421,3582012Assets 2013: $3,207,338Liabilities 2013: $3,552,446Net Assets 2013: -$345,1082013Assets 2014: $2,998,980Liabilities 2014: $3,596,587Net Assets 2014: -$597,6072014Assets 2015: $2,998,719Liabilities 2015: $3,086,035Net Assets 2015: -$87,3162015Assets 2016: $2,843,080Liabilities 2016: $2,806,747Net Assets 2016: $36,3332016Assets 2017: $2,609,682Liabilities 2017: $2,623,802Net Assets 2017: -$14,1202017Assets 2018: $2,843,718Liabilities 2018: $2,927,194Net Assets 2018: -$83,4762018Assets 2019: $2,432,344Liabilities 2019: $2,315,452Net Assets 2019: $116,8922019Assets 2020: $2,677,662Liabilities 2020: $2,048,929Net Assets 2020: $628,7332020Assets 2021: $2,635,444Liabilities 2021: $2,168,820Net Assets 2021: $466,6242021Assets 2022: $1,797,326Liabilities 2022: $574,957Net Assets 2022: $1,222,3692022Assets 2023: $1,992,578Liabilities 2023: $208,840Net Assets 2023: $1,783,7382023Assets 2024: $2,400,573Liabilities 2024: $189,892Net Assets 2024: $2,210,6812024

Highlighted filing

2021

Assets$2,635,444
Liabilities$2,168,820
Net Assets$466,624
Open 2021 Filing

Operations Trend

Revenue Growth8th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2012: $3,614,173Expenses 2012: $3,790,621Net Income 2012: -$176,4482012Revenue 2013: $3,516,356Expenses 2013: $3,440,106Net Income 2013: $76,2502013Revenue 2014: $2,914,132Expenses 2014: $3,166,631Net Income 2014: -$252,4992014Revenue 2015: $3,043,793Expenses 2015: $2,533,341Net Income 2015: $510,4522015Revenue 2016: $2,627,428Expenses 2016: $2,503,779Net Income 2016: $123,6492016Revenue 2017: $2,328,219Expenses 2017: $2,378,672Net Income 2017: -$50,4532017Revenue 2018: $2,179,425Expenses 2018: $2,248,781Net Income 2018: -$69,3562018Revenue 2019: $2,257,073Expenses 2019: $2,132,193Net Income 2019: $124,8802019Revenue 2020: $2,441,839Expenses 2020: $1,929,998Net Income 2020: $511,8412020Revenue 2021: $1,584,516Expenses 2021: $1,746,625Net Income 2021: -$162,1092021Revenue 2022: $2,267,457Expenses 2022: $1,511,712Net Income 2022: $755,7452022Revenue 2023: $2,063,762Expenses 2023: $1,502,393Net Income 2023: $561,3692023Revenue 2024: $2,462,629Expenses 2024: $2,035,686Net Income 2024: $426,9432024

Highlighted filing

2021

Revenue$1,584,516
Expenses$1,746,625
Net Income-$162,109
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 4, 2022
Return Version
2020v4.0
Gross Receipts
$1,587,511
Mission and Program Overview

Mission

We, at kerr-vance academy, strive to provide for our students an intensive liberal arts college preparatory program in a safe atmosphere, where all are treated respectfully. We endeavor to maintain high expectations while actively engaging our students in learning. Further, we strive to foster intellectual curiosity, concern for others, physical development, creativity, and social and moral values.

We, at kerr vance academy, strive to provide for our students an intensive liberal arts college preparatory program in a safe atmosphere, where all are treated respectfully. We endeavor to maintain high expectations while actviely engaging our students in learning. Further, we strive to foster intellectual curiosity, concern for others, physical development, creativity, and social and moral values.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,122,649$1,981,498▼ $141,151
Savings and Temporary Cash Investments$453,882$513,764▲ $59,882
Accounts Receivable$77,290$123,978▲ $46,688
Cash and Non-Interest-Bearing Accounts$23,093$14,938▼ $8,155
Prepaid Expenses and Deferred Charges$748$1,266▲ $518
Total Assets$2,677,662$2,635,444▼ $42,218
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,641,247$1,846,063▲ $204,816
Accounts Payable and Accrued Expenses$160,510$178,229▲ $17,719
Deferred Revenue$247,172$144,528▼ $102,644
Total Liabilities$2,048,929$2,168,820▲ $119,891
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$584,976$422,867▼ $162,109
Net Assets With Donor Restrictions$43,757$43,757→ $0
Total Net Assets Fund Balance$628,733$466,624▼ $162,109
Total Liabilities and Net Assets / Fund Balance$2,677,662$2,635,444▼ $42,218

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,778,720$3,355,043$5,133,763
Equipment$111,600$1,433,777$1,545,377
Land$91,178-$91,178
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alison ShortHead of SchoFT$82,500$1,200$83,700

Board Members and Trustees

NameTitle
Cindy JonesPresident
Amy ReynoldsTrustee
Hillary BrameTrustee
Hillary SandlingTrustee
Jean OdomTrustee
Lizzie StovallTrustee
Sabine StovallTrustee
Timothy PurvisTrustee
Renee WilderPast Preside
Jessica DavisSecretary
Eddie CaudleVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$90,899
Program Service Revenue
$1,414,342
Investment Income
$795
Other Revenue
$78,480
All Other Contributions
$90,899
Change in Net Assets
$-162,109
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,158,857
Other Expenses$587,768
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$864,754$125,938-$990,692
Depreciation Depletion-$141,151-$141,151
Occupancy-$91,231-$91,231
Current Officers, Directors, Trustees, and Key Employees-$82,500-$82,500
Payroll Taxes$65,867$15,798-$81,665
Interest-$61,086-$61,086
All Other Expenses$26,533$17,438-$43,971
Insurance-$43,008-$43,008
Fees for Services Other-$34,011-$34,011
Other Expenses$25,198$54,232-$25,198
Office Expenses-$20,752-$20,752
Advertising-$7,186-$7,186
Pension Plan Contributions-$4,000-$4,000
Information Technology$1,231--$1,231
Total Functional Expenses$1,048,294$698,331$0$1,746,625
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$15,466
Fundraising Direct Expenses$2,995
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Chicken Plate S$8,110$8,110$2,995$5,115
Facebook Fundra$7,056$7,056-$7,056
Total Events$15,166$15,166$2,995$12,171
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Members are comprised of the parents and guardians of currently enrolled students. There is no limit on the number of members.”

Form 990, Page 6, Part VI, Line 7A

“Members of the governing body (trustees) are elected by members of the organization at the annual meeting. Trustees serve for a period of three years.”

Form 990, Page 6, Part VI, Line 7B

“The only decision of the governing body that requires approval of members is a change in bylaws.”

Form 990, Page 6, Part VI, Line 11B

“The annual financial statement and 990 is presented to the members for approval at annual meeting.”

Form 990, Page 6, Part VI, Line 15A

“Organization uses guidelines set forth by the nc association of independent schools.”

Form 990, Page 6, Part VI, Line 15B

“Organization uses guidelines set forth by the nc association of independent schools.”

Form 990, Page 6, Part VI, Line 19

“The organization uses its website and open meetings.”

Filing and Contact Details

Filer

Filer Name
Kerr Vance Academy Inc
EIN
56-6085497
Phone
2524920018
Address
700 KERR VANCE ACADEMY ROAD, HENDERSON, NC 27537

Signing Officer

Name
Cindy Jones
Title
President
Phone
2524920018
Signed
2022-01-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cindy Jones
Formed
1967
Voting Board Members
13
Independent Board Members
13
Employees
48

Preparer

Firm
Winston Williams Creech Evans & Co Llp
Address
PO BOX 1366, OXFORD, NC 27565-0487
Preparer
Carleen P Evans
Phone
9196935196
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“We, at kerr vance academy, strive to provide for our students an intensive liberal arts college preparatory program in a safe atmosphere, where all are treated respectfully. We endeavor to maintain high expectations while actviely engaging our students in learning. Further, we strive to foster intellectual curiosity, concern for others, physical development, creativity, and social and moral values.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The academy has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which it has nexus; and to identify and evaluate other matters that may be considered tax positions. The academy has determined that there are no material uncertain tax positions that require recognition of disclosure in the financial statements.”

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IRS990/MissionDesc0WE, AT KERR VANCE ACADEMY, STRIVE TO PROVIDE FOR OUR STUDENTS AN INTENSIVE LIBERAL ARTS COLLEGE PREPARATORY PROGRAM IN A SAFE ATMOSPHERE, WHERE ALL ARE TREATED RESPECTFULLY. WE ENDEAVOR TO MAINTAIN HIGH EXPECTATIONS WHILE ACTVIELY ENGAGING OUR STUDENTS IN LEARNING. FURTHER, WE STRIVE TO FOSTER INTELLECTUAL CURIOSITY, CONCERN FOR OTHERS, PHYSICAL DEVELOPMENT, CREATIVITY, AND SOCIAL AND MORAL VALUES.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt01641247
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01846063
IRS990/NetAssetsOrFundBalancesBOYAmt0628733
IRS990/NetAssetsOrFundBalancesEOYAmt0466624
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt012471
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt012471
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0584976
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0422867
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt091231
IRS990/OccupancyGrp/TotalAmt091231
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt020752
IRS990/OfficeExpensesGrp/TotalAmt020752
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc1REFEREES
IRS990/OtherExpensesGrp/Desc2FOOD
IRS990/OtherExpensesGrp/Desc3CABLE AND INTERNET
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt054232
IRS990/OtherExpensesGrp/ProgramServicesAmt01022
IRS990/OtherExpensesGrp/ProgramServicesAmt135254
IRS990/OtherExpensesGrp/ProgramServicesAmt228435
IRS990/OtherExpensesGrp/ProgramServicesAmt325198
IRS990/OtherExpensesGrp/TotalAmt055254
IRS990/OtherExpensesGrp/TotalAmt135254
IRS990/OtherExpensesGrp/TotalAmt228435
IRS990/OtherExpensesGrp/TotalAmt325198
IRS990/OtherRevenueMiscGrp/BusinessCd0611600
IRS990/OtherRevenueMiscGrp/BusinessCd1611600
IRS990/OtherRevenueMiscGrp/BusinessCd2611600
IRS990/OtherRevenueMiscGrp/Desc0SPORTS INCOME FEE
IRS990/OtherRevenueMiscGrp/Desc1FACILITY FEE INCOME
IRS990/OtherRevenueMiscGrp/Desc2OTHER REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt024470
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt118982
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt217250
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt024470
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt118982
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt217250
IRS990/OtherRevenueTotalAmt066009
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0125938
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0864754
IRS990/OtherSalariesAndWagesGrp/TotalAmt0990692
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt015798
IRS990/PayrollTaxesGrp/ProgramServicesAmt065867
IRS990/PayrollTaxesGrp/TotalAmt081665
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt04000
IRS990/PensionPlanContributionsGrp/TotalAmt04000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0748
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01266
IRS990/PrincipalOfficerNm0CINDY JONES
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1611600
IRS990/ProgramServiceRevenueGrp/BusinessCd2611600
IRS990/ProgramServiceRevenueGrp/BusinessCd3611600
IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
IRS990/ProgramServiceRevenueGrp/Desc1LITTLE SPARTANS DAYCARE
IRS990/ProgramServiceRevenueGrp/Desc2FOOD SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/Desc3BUS REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01224509
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1146485
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt237948
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt35400
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01224509
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1146485
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt237948
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt35400
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0105718
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0537
IRS990/PYOtherExpensesAmt0630154
IRS990/PYOtherRevenueAmt0686182
IRS990/PYProgramServiceRevenueAmt01649402
IRS990/PYRevenuesLessExpensesAmt0511841
IRS990/PYSalariesCompEmpBnftPaidAmt01299844
IRS990/PYTotalExpensesAmt01929998
IRS990/PYTotalRevenueAmt02441839
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-162109
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01414342
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0453882
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0513764
IRS990ScheduleA/SchoolInd0X
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/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt01778720
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03355043
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05133763
IRS990ScheduleD/EquipmentGrp/BookValueAmt0111600
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01433777
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01545377
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt091178
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt091178
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE ACADEMY HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OF DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01981498
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0NOTICE OF NONDISCRIMINATION POLICY IN LOCAL NEWSPAPERS OF VARIOUS COMMUNITIES SERVED BY THE SCHOOL.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt02995
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0CHICKEN PLATE S
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0FACEBOOK FUNDRA
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt08110
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt07056
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt015166
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt08110
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt07056
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt015166
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt012171
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt02995
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt02995
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE, AT KERR VANCE ACADEMY, STRIVE TO PROVIDE FOR OUR STUDENTS AN INTENSIVE LIBERAL ARTS COLLEGE PREPARATORY PROGRAM IN A SAFE ATMOSPHERE, WHERE ALL ARE TREATED RESPECTFULLY. WE ENDEAVOR TO MAINTAIN HIGH EXPECTATIONS WHILE ACTVIELY ENGAGING OUR STUDENTS IN LEARNING. FURTHER, WE STRIVE TO FOSTER INTELLECTUAL CURIOSITY, CONCERN FOR OTHERS, PHYSICAL DEVELOPMENT, CREATIVITY, AND SOCIAL AND MORAL VALUES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ARE COMPRISED OF THE PARENTS AND GUARDIANS OF CURRENTLY ENROLLED STUDENTS. THERE IS NO LIMIT ON THE NUMBER OF MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS OF THE GOVERNING BODY (TRUSTEES) ARE ELECTED BY MEMBERS OF THE ORGANIZATION AT THE ANNUAL MEETING. TRUSTEES SERVE FOR A PERIOD OF THREE YEARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ONLY DECISION OF THE GOVERNING BODY THAT REQUIRES APPROVAL OF MEMBERS IS A CHANGE IN BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ANNUAL FINANCIAL STATEMENT AND 990 IS PRESENTED TO THE MEMBERS FOR APPROVAL AT ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ORGANIZATION USES GUIDELINES SET FORTH BY THE NC ASSOCIATION OF INDEPENDENT SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ORGANIZATION USES GUIDELINES SET FORTH BY THE NC ASSOCIATION OF INDEPENDENT SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION USES ITS WEBSITE AND OPEN MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02677662
IRS990/TotalAssetsEOYAmt02635444
IRS990/TotalAssetsGrp/BOYAmt02677662

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,635,444
Liabilities
$2,168,820
Net assets
$466,624
Revenue
$1,584,516
Expenses
$1,746,625
Net income
-$162,109
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.40$0.19$2.21$2.46$2.04$0.43
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.99$0.21$1.78$2.06$1.50$0.56
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.80$0.57$1.22$2.27$1.51$0.76
2021Detailed filing. Detailed filing data is available for this year.$2.64$2.17$0.47$1.58$1.75$0.16
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.68$2.05$0.63$2.44$1.93$0.51
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.43$2.32$0.12$2.26$2.13$0.12
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.84$2.93$0.08$2.18$2.25$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.61$2.62$0.01$2.33$2.38$0.05
2016Detailed filing. Detailed filing data is available for this year.$2.84$2.81$0.04$2.63$2.50$0.12
2015Detailed filing. Detailed filing data is available for this year.$3.00$3.09$0.09$3.04$2.53$0.51
2014Detailed filing. Detailed filing data is available for this year.$3.00$3.60$0.60$2.91$3.17$0.25
2013Summary only. Only limited summary data is available for this year.$3.21$3.55$0.35$3.52$3.44$0.08
2012Summary only. Only limited summary data is available for this year.$3.44$3.86$0.42$3.61$3.79$0.18