Civic Intelligence

Thomas Hart Academy

990 • Fiscal year 2024 • EIN 57-0523709

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 07, 2024

Organization ProfileWWW.THOMASHART.ORG

View Organization Page

852 Flinns RdHartsville, SC 29550

(843) 332-4991

Siviq Scores

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

Liabilities / Assets

81st percentile

0.41x

Higher debt load relative to assets than 81% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

82nd percentile

0.54x

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

15th percentile

-19%

Higher net margin than 15% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

12th percentile

-13%

Faster asset growth than 12% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

12th percentile

-25%

Faster revenue growth than 12% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$1,364,380

Down $199,400 (-13%) from 2023

Net Assets

Down

$810,264

Down $189,357 (-19%) from 2023

Liabilities

Down

$554,116

Down $10,043 (-1.8%) from 2023

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin15th percentile

Revenue

Down

$1,020,317

Down $348,924 (-25%) from 2023

Expenses

Up

$1,209,678

Up $1,993 (+0.2%) from 2023

Net Income

Down

-$189,361

Down $350,917 (-217%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2015: $454,392Liabilities 2015: $286,455Net Assets 2015: $167,9372015Assets 2016: $459,199Liabilities 2016: $363,507Net Assets 2016: $95,6922016Assets 2017: $462,896Liabilities 2017: $296,760Net Assets 2017: $166,1362017Assets 2018: $450,965Liabilities 2018: $298,476Net Assets 2018: $152,4892018Assets 2019: $439,013Liabilities 2019: $224,310Net Assets 2019: $214,7032019Assets 2020: $796,011Liabilities 2020: $290,789Net Assets 2020: $505,2222020Assets 2021: $939,932Liabilities 2021: $354,860Net Assets 2021: $585,0722021Assets 2022: $1,157,730Liabilities 2022: $319,669Net Assets 2022: $838,0612022Assets 2023: $1,563,780Liabilities 2023: $564,159Net Assets 2023: $999,6212023Assets 2024: $1,364,380Liabilities 2024: $554,116Net Assets 2024: $810,2642024

Highlighted filing

2024

Assets$1,364,380
Liabilities$554,116
Net Assets$810,264
Open 2024 Filing

Operations Trend

Revenue Growth12th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2015: $922,288Expenses 2015: $924,363Net Income 2015: -$2,0752015Revenue 2016: $946,714Expenses 2016: $1,018,960Net Income 2016: -$72,2462016Revenue 2017: $992,656Expenses 2017: $922,214Net Income 2017: $70,4422017Revenue 2018: $1,022,177Expenses 2018: $1,035,824Net Income 2018: -$13,6472018Revenue 2019: $1,013,644Expenses 2019: $951,430Net Income 2019: $62,2142019Revenue 2020: $1,254,285Expenses 2020: $963,766Net Income 2020: $290,5192020Revenue 2021: $1,147,157Expenses 2021: $1,067,306Net Income 2021: $79,8512021Revenue 2022: $1,375,966Expenses 2022: $1,122,977Net Income 2022: $252,9892022Revenue 2023: $1,369,241Expenses 2023: $1,207,685Net Income 2023: $161,5562023Revenue 2024: $1,020,317Expenses 2024: $1,209,678Net Income 2024: -$189,3612024

Highlighted filing

2024

Revenue$1,020,317
Expenses$1,209,678
Net Income-$189,361
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 7, 2024
Return Version
2023v5.0
Gross Receipts
$1,048,970
Mission and Program Overview

Mission

Educational services for grades K3-8

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$999,621$810,264▼ $189,357
Land, Buildings, and Equipment, Net$675,955$702,312▲ $26,357
Savings and Temporary Cash Investments-$272,315-
Cash and Non-Interest-Bearing Accounts$664,370$178,954▼ $485,416
Accounts Receivable$53,343$40,687▼ $12,656
Total Assets$1,563,780$1,364,380▼ $199,400
Other Assets Total$170,112$170,112→ $0
Liabilities
Deferred Revenue$544,241$541,270▼ $2,971
Mortgage Notes Payable Secured by Investment Property$1,610$11,394▲ $9,784
Accounts Payable and Accrued Expenses$18,308$1,452▼ $16,856
Total Liabilities$564,159$554,116▼ $10,043
Net Assets / Fund Balance
Total Net Assets Fund Balance$999,621$810,264▼ $189,357
Total Liabilities and Net Assets / Fund Balance$1,563,780$1,364,380▼ $199,400

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$502,120$1,117,529$1,619,649
Equipment$86,358$28,457$114,815
Leasehold Improvements$73,834$8,204$82,038
Land$40,000-$40,000
Other Assets Org$170,112--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Lindsay PowellChairman
Brandy JohnsonDirector
Elizabeth CoxeDirector
Geoff HughesDirector
Jennifer EvansDirector
John HorlbeckDirector
Josh WittenDirector
Margaret FelkelDirector
Mary Ann ChapmanDirector
T Scott WildsDirector
Travis WindhamDirector
Wardie SandersDirector
Valerie GardnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$67,402
Program Service Revenue
$905,084
Investment Income
$1,786
Other Revenue
$46,045
All Other Contributions
$67,402
Change in Net Assets
$-189,361
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$876,803
Other Expenses$332,875
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$555,904$179,735-$735,639
Occupancy$84,635--$84,635
Current Officers, Directors, Trustees, and Key Employees$54,812$18,270-$73,082
Depreciation Depletion$62,834--$62,834
Payroll Taxes$46,366$15,455-$61,821
Insurance$14,264$41,879-$56,143
Office Expenses-$39,779-$39,779
Information Technology$28,000--$28,000
Fees for Services Accounting-$11,737-$11,737
Conferences and Meetings$1,509$5,929-$7,438
Other Employee Benefits$6,261--$6,261
Advertising-$3,707-$3,707
Other Expenses$2,752--$2,752
Fees for Services Legal-$1,010-$1,010
Interest$8--$8
Total Functional Expenses$892,177$317,501$0$1,209,678
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$74,698
Fundraising Direct Expenses$28,653
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Various$74,698$74,698$28,653$46,045
Total Events$74,698$74,698$28,653$46,045
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
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
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, Page 6, Part VI, Line 11B

“Form 990 is prepared by the accounting firm and is provided to board members and management for review. Any questions by board members are directed to the executive committee to review and answer prior to filing.”

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

“Salary and benefits for head of school are determined by comparing information with similar private schools and utilizing information obtained from scisa. Duties, expertise, years of service, and education are all considered when determining salaries. The executive committee makes a recommendation to the board of directors. Minutes are maintained at all meetings documenting decisions.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and by-laws are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Thomas Hart Academy
EIN
57-0523709
Phone
8433324991
Address
852 FLINNS RD, HARTSVILLE, SC 29550

Signing Officer

Name
Tara Woodson
Title
Head of School
Phone
8433324991
Signed
2024-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tara Woodson
Formed
1970
Legal Domicile
Sc
Voting Board Members
13
Independent Board Members
13
Employees
39

Preparer

Firm
Moore Beauston & Woodham LLC
Address
115 CARGILL WAY SUITE A, HARTSVILLE, SC 29550
Preparer
Shannon B Hutson CPA
Phone
8433321335
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book / tax depreciation difference 4”

Raw XML AppendixShowing 400 of 426 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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IRS990/PYInvestmentIncomeAmt0-2175
IRS990/PYOtherExpensesAmt0335577
IRS990/PYOtherRevenueAmt054938
IRS990/PYProgramServiceRevenueAmt0813178
IRS990/PYRevenuesLessExpensesAmt0161556
IRS990/PYSalariesCompEmpBnftPaidAmt0872108
IRS990/PYTotalExpensesAmt01207685
IRS990/PYTotalRevenueAmt01369241
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-189361
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0905084
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0999621
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0810264
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0272315
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt086358
IRS990ScheduleD/EquipmentGrp/DepreciationAmt028457
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0114815
IRS990ScheduleD/LandGrp/BookValueAmt040000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt040000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt073834
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt08204
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt082038
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0170112
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ERC RECEIVABLE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0502120
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01117529
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01619649
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0702312
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0170112
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/ExplanationTxt0ADVERTISING AND PROMOTIONAL PUBLICATIONS STATING THAT THE ACADEMY DOES NOT DISCRIMINATE ON THE BASIS OF RACE, RELIGION, SEX, AGE, OR NATIONAL ORIGIN.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt028653
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0VARIOUS
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt074698
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt074698
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt074698
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt074698
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt046045
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt028653
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt028653
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS PREPARED BY THE ACCOUNTING FIRM AND IS PROVIDED TO BOARD MEMBERS AND MANAGEMENT FOR REVIEW. ANY QUESTIONS BY BOARD MEMBERS ARE DIRECTED TO THE EXECUTIVE COMMITTEE TO REVIEW AND ANSWER PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SALARY AND BENEFITS FOR HEAD OF SCHOOL ARE DETERMINED BY COMPARING INFORMATION WITH SIMILAR PRIVATE SCHOOLS AND UTILIZING INFORMATION OBTAINED FROM SCISA. DUTIES, EXPERTISE, YEARS OF SERVICE, AND EDUCATION ARE ALL CONSIDERED WHEN DETERMINING SALARIES. THE EXECUTIVE COMMITTEE MAKES A RECOMMENDATION TO THE BOARD OF DIRECTORS. MINUTES ARE MAINTAINED AT ALL MEETINGS DOCUMENTING DECISIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND BY-LAWS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOOK / TAX DEPRECIATION DIFFERENCE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt01364380
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IRS990/TotalAssetsGrp/EOYAmt01364380
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IRS990/TotalContributionsAmt067402
IRS990/TotalEmployeeCnt039
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0317501
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0892177
IRS990/TotalFunctionalExpensesGrp/TotalAmt01209678
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0564159
IRS990/TotalLiabilitiesEOYAmt0554116
IRS990/TotalLiabilitiesGrp/BOYAmt0564159
IRS990/TotalLiabilitiesGrp/EOYAmt0554116
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0999621
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0810264
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt06958
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt06958
IRS990/TotalProgramServiceExpensesAmt0892177
IRS990/TotalProgramServiceRevenueAmt0905084
IRS990/TotalRevenueGrp/ExclusionAmt046045
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0906870
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01020317
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01563780
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01364380
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0852 FLINNS RD
IRS990/USAddress/CityNm0HARTSVILLE
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029550
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.THOMASHART.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TARA WOODSON

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,364,380
Liabilities
$554,116
Net assets
$810,264
Revenue
$1,020,317
Expenses
$1,209,678
Net income
-$189,361
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.36$0.55$0.81$1.02$1.21$0.19
2023Detailed filing. Detailed filing data is available for this year.$1.56$0.56$1.00$1.37$1.21$0.16
2022Detailed filing. Detailed filing data is available for this year.$1.16$0.32$0.84$1.38$1.12$0.25
2021Detailed filing. Detailed filing data is available for this year.$0.94$0.35$0.59$1.15$1.07$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.80$0.29$0.51$1.25$0.96$0.29
2019Detailed filing. Detailed filing data is available for this year.$0.44$0.22$0.21$1.01$0.95$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.45$0.30$0.15$1.02$1.04$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.46$0.30$0.17$0.99$0.92$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.46$0.36$0.10$0.95$1.02$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.45$0.29$0.17$0.92$0.92$0.00