Civic Intelligence

Lake Norman Charter School Inc.

990 • Fiscal year 2019 • EIN 58-2360164

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 07, 2020

Organization ProfileWWW.LNCS.ORG
12435 Old Statesville RoadHuntersville, NC 28078

(704) 948-8600

Siviq Scores

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

Liabilities / Assets

98th percentile

1.16x

Higher debt load relative to assets than 98% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

91st percentile

3.59x

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

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Net Margin

57th percentile

5.7%

Higher net margin than 57% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

15th percentile

$143,288

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Asset Growth

74th percentile

9.4%

Faster asset growth than 74% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

80th percentile

19%

Faster revenue growth than 80% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets98th percentile

Assets

Flat

$63,298,910

Flat from 2019

Net Assets

Flat

-$10,028,479

Flat from 2019

Liabilities

Flat

$73,327,389

Flat from 2019

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin57th percentile

Revenue

Flat

$20,408,849

Flat from 2019

Expenses

Flat

$19,240,605

Flat from 2019

Net Income

Flat

$1,168,244

Flat from 2019

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

$100M$50M$0-$50MAssets 2011: $0Liabilities 2011: $0Net Assets 2011: $02011Assets 2012: $34,396,610Liabilities 2012: $23,015,647Net Assets 2012: $11,380,9632012Assets 2013: $33,987,428Liabilities 2013: $22,133,171Net Assets 2013: $11,854,2572013Assets 2014: $33,888,161Liabilities 2014: $21,837,871Net Assets 2014: $12,050,2902014Assets 2015: $33,852,976Liabilities 2015: $23,853,193Net Assets 2015: $9,999,7832015Assets 2016: $33,565,965Liabilities 2016: $22,685,105Net Assets 2016: $10,880,8602016Assets 2017: $38,323,722Liabilities 2017: $27,432,052Net Assets 2017: $10,891,6702017Assets 2018: $57,864,999Liabilities 2018: $69,061,722Net Assets 2018: -$11,196,7232018Assets 2019: $63,298,910Liabilities 2019: $73,327,389Net Assets 2019: -$10,028,4792019Assets 2019: $63,298,910Liabilities 2019: $73,327,389Net Assets 2019: -$10,028,4792019Assets 2020: $65,044,761Liabilities 2020: $76,181,275Net Assets 2020: -$11,136,5142020Assets 2021: $64,551,351Liabilities 2021: $74,033,071Net Assets 2021: -$9,481,7202021Assets 2022: $64,667,649Liabilities 2022: $72,185,431Net Assets 2022: -$7,517,7822022Assets 2023: $69,234,798Liabilities 2023: $71,966,194Net Assets 2023: -$2,731,3962023Assets 2024: $71,305,261Liabilities 2024: $73,520,096Net Assets 2024: -$2,214,8352024

Highlighted filing

2019

Assets$63,298,910
Liabilities$73,327,389
Net Assets-$10,028,479
Open 2019 Filing

Operations Trend

Revenue Growth80th percentile

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

$30M$20M$10M$0-$10MRevenue 2011: $0Expenses 2011: $0Net Income 2011: $02011Expenses 2012: $10,512,1582012Expenses 2013: $11,307,2042013Revenue 2014: $12,199,179Expenses 2014: $12,003,146Net Income 2014: $196,0332014Revenue 2015: $12,796,860Expenses 2015: $12,313,499Net Income 2015: $483,3612015Revenue 2016: $13,446,637Expenses 2016: $12,565,560Net Income 2016: $881,0772016Revenue 2017: $13,995,601Expenses 2017: $13,984,791Net Income 2017: $10,8102017Revenue 2018: $17,199,690Expenses 2018: $18,707,213Net Income 2018: -$1,507,5232018Revenue 2019: $20,408,849Expenses 2019: $19,240,605Net Income 2019: $1,168,2442019Revenue 2019: $20,408,849Expenses 2019: $19,240,605Net Income 2019: $1,168,2442019Revenue 2020: $22,291,385Expenses 2020: $23,399,420Net Income 2020: -$1,108,0352020Revenue 2021: $25,126,213Expenses 2021: $23,471,422Net Income 2021: $1,654,7912021Revenue 2022: $25,990,344Expenses 2022: $24,026,406Net Income 2022: $1,963,9382022Revenue 2023: $29,219,652Expenses 2023: $24,540,777Net Income 2023: $4,678,8752023Revenue 2024: $28,054,535Expenses 2024: $27,787,446Net Income 2024: $267,0892024

Highlighted filing

2019

Revenue$20,408,849
Expenses$19,240,605
Net Income$1,168,244
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 7, 2020
Return Version
2018v3.2
Gross Receipts
$20,408,849
Mission and Program Overview

Mission

Lake norman charter school prepares students to be community leaders demonstrating personal integrity with a life-long desire to learn, lead and serve.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$30,103,999$40,147,160▲ $10,043,161
Pd in Cap Srpls Land Bldg Eqp Fund$8,462,699$9,054,028▲ $591,329
Prepaid Expenses and Deferred Charges$4,047,180$7,564,823▲ $3,517,643
Savings and Temporary Cash Investments$5,082,144$6,923,045▲ $1,840,901
Accounts Receivable$668,849$242,550▼ $426,299
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-19,659,422$-19,082,507▲ $576,915
Total Assets$57,864,999$63,298,910▲ $5,433,911
Other Assets Total$17,962,827$8,421,332▼ $9,541,495
Liabilities
Tax Exempt Bond Liabilities$39,500,063$39,440,731▼ $59,332
Other Liabilities$28,131,828$31,701,078▲ $3,569,250
Accounts Payable and Accrued Expenses$1,404,106$2,165,409▲ $761,303
Deferred Revenue$25,725$20,171▼ $5,554
Total Liabilities$69,061,722$73,327,389▲ $4,265,667
Net Assets / Fund Balance
Total Net Assets Fund Balance$-11,196,723$-10,028,479▲ $1,168,244
Total Liabilities and Net Assets / Fund Balance$57,864,999$63,298,910▲ $5,433,911

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$18,600,186$9,421,767-
Other Land Buildings$15,872,899$416,068-
Land$4,602,965--
Equipment$1,071,110$3,179,655-
Other Assets Org$56,003--
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Shannon SteinManaging DirectorFT$143,288$143,288

Board Members and Trustees

NameTitle
Steve JonesBoard Chairperson
Ricky JonesVice Chairperson
Anna BlackwelderBoard Member
Jared TilleyBoard Member
Jennifer JohnsonBoard Member
Rick BucklerBoard Member
Sherry LattenBoard Member
Stephanie PainterBoard Member
Thomas McelroyBoard Member
Kyle BurkeySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$18,458,873
Program Service Revenue
$1,148,942
Investment Income
$346,432
Other Revenue
$454,602
All Other Contributions
$649,743
Change in Net Assets
$1,168,244

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,408,849
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$20,408,849
Total Revenue per Form 990
$20,408,849
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,846,879
Other Expenses$6,393,726
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,590,874$2,437,829-$9,028,703
Pension Plan Contributions$1,488,633$496,210-$1,984,843
Interest-$1,822,650-$1,822,650
Depreciation Depletion$1,448,072$101,565-$1,549,637
Other Employee Benefits$756,455$252,151-$1,008,606
Payroll Taxes$511,079$170,360-$681,439
Occupancy$152,297$441,657-$593,954
All Other Expenses$126,646$364,058-$490,704
Other Expenses$243,952$370,663-$243,952
Information Technology$83,111$110,844-$193,955
Current Officers, Directors, Trustees, and Key Employees-$143,288-$143,288
Office Expenses-$113,388-$113,388
Insurance-$79,304-$79,304
Travel-$27,046-$27,046
Total Functional Expenses$12,309,592$6,931,013$0$19,240,605

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$19,240,605
Total Expenses per Audited Statements$19,240,605
Total Expenses per Form 990$19,240,605
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Net Opeb Liability$16,582,982
Opeb Deferred Inflows of Resources$8,330,366
Net Pension Liability$6,432,628
Compensated Absences$209,980
Pension Deferred Inflows of Resources$145,122

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority of Wisconsin2018-01-09$37,730,000Retire 2008 bonds,construction loans,& construct new elementary school

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$37,730,000--$410,101

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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 B, Line 11B

“The finance committee and treasurer review and approve the form 990.”

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

“All board members are familiar with the conflict of interest policy and are required to disclose any issues when they join the board. The treasurer reviews monthly vendor reports for any potential issues with companies that employ board members.”

Form 990, Part VI, Section B, Line 15

“A multiple-step process is used to set compensation for the managing director. First, market data is gathered from multiple external sources. The board conducts a performance review and goals and expectations are set for the following school year. The policy and personnel committee reviews the performance documents and presents their findings to the board with a recommendation for any compensation changes. The board then votes on the recommended changes. When the policy and personnel committee presents their recommendations, they provide supporting market compensation data. Compensation of local school administrators is common knowledge as the result of media coverage. For other key employees, the policy and personnel comittee gathers market data using the same external sources. The managing director conducts the performance review and presents any recommended compensation changes to the board.”

Form 990, Part VI, Section C, Line 19

“The documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Lake Norman Charter School
EIN
58-2360164
Phone
7049488600
Address
12435 OLD STATESVILLE ROAD, HUNTERSVILLE, NC 28078

Signing Officer

Name
Shannin Stein
Title
Superintendent
Phone
7049488600
Signed
2020-07-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shannon Stein
Formed
1998
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
283
Volunteers
280

Preparer

Firm
Potter and Company Pa
Address
434 COPPERFIELD BLVD NE SUITE A, CONCORD, NC 28025
Preparer
Kenni E Doyle CPA
Phone
7047868189
Supplemental Narrative

Additional Explanations

Part XI, Line 2C

“No change in either the selection process or oversight process.”

Financial Statement Notes

PART X, LINE 2:

“The school adopted asc 740-10 as it related to uncertain tax positions effective for the year ended june 30, 2019 and has evaluated its tax positions taken for all open tax years. However, the school is not currently under audit nor has the school been contacted by these jurisdictions. Based on the evaluation of the schools tax positions, management believes all positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended june 30, 2019.”

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IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0LAKE NORMAN CHARTER SCHOOL PREPARES STUDENTS TO BE COMMUNITY LEADERS DEMONSTRATING PERSONAL INTEGRITY WITH A LIFE-LONG DESIRE TO LEARN, LEAD AND SERVE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0-11196723
IRS990/NetAssetsOrFundBalancesEOYAmt0-10028479
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt013038
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt013038
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0441657
IRS990/OccupancyGrp/ProgramServicesAmt0152297
IRS990/OccupancyGrp/TotalAmt0593954
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0113388
IRS990/OfficeExpensesGrp/TotalAmt0113388
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt017962827
IRS990/OtherAssetsTotalGrp/EOYAmt08421332
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0252151
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0756455
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01008606
IRS990/OtherExpensesGrp/Desc0CONTRACTED SERVICES
IRS990/OtherExpensesGrp/Desc1UTILITIES
IRS990/OtherExpensesGrp/Desc2CLUBS
IRS990/OtherExpensesGrp/Desc3BOOKS AND SUPPLIES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0370663
IRS990/OtherExpensesGrp/ProgramServicesAmt0655212
IRS990/OtherExpensesGrp/ProgramServicesAmt1253261
IRS990/OtherExpensesGrp/ProgramServicesAmt2243952
IRS990/OtherExpensesGrp/TotalAmt0655212
IRS990/OtherExpensesGrp/TotalAmt1370663
IRS990/OtherExpensesGrp/TotalAmt2253261
IRS990/OtherExpensesGrp/TotalAmt3243952
IRS990/OtherLiabilitiesGrp/BOYAmt028131828
IRS990/OtherLiabilitiesGrp/EOYAmt031701078
IRS990/OtherRevenueMiscGrp/BusinessCd0611110
IRS990/OtherRevenueMiscGrp/BusinessCd1611110
IRS990/OtherRevenueMiscGrp/Desc0SALES TAX REIMBURSEMENT
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/ExclusionAmt0251988
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0202614
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0251988
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1202614
IRS990/OtherRevenueTotalAmt0454602
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt02437829
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt06590874
IRS990/OtherSalariesAndWagesGrp/TotalAmt09028703
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0170360
IRS990/PayrollTaxesGrp/ProgramServicesAmt0511079
IRS990/PayrollTaxesGrp/TotalAmt0681439
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt08462699
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt09054028
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0496210
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt01488633
IRS990/PensionPlanContributionsGrp/TotalAmt01984843
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04047180
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt07564823
IRS990/PrincipalOfficerNm0SHANNON STEIN
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/BusinessCd1611110
IRS990/ProgramServiceRevenueGrp/BusinessCd2611110
IRS990/ProgramServiceRevenueGrp/BusinessCd3624410
IRS990/ProgramServiceRevenueGrp/Desc0FIELD TRIPS
IRS990/ProgramServiceRevenueGrp/Desc1STUDENT FEES
IRS990/ProgramServiceRevenueGrp/Desc2STUDENT CLUBS
IRS990/ProgramServiceRevenueGrp/Desc3CHILD CARE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0331609
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1306019
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2269386
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3241928
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0331609
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1306019
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2269386
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3241928
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt015241347
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt092260
IRS990/PYOtherExpensesAmt06648668
IRS990/PYOtherRevenueAmt01713288
IRS990/PYProgramServiceRevenueAmt0152795
IRS990/PYRevenuesLessExpensesAmt0-1507523
IRS990/PYSalariesCompEmpBnftPaidAmt012058545
IRS990/PYTotalExpensesAmt018707213
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt017199690
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01168244
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01351556
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-19659422
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-19082507
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05082144
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06923045
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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt018600186
IRS990ScheduleD/BuildingsGrp/DepreciationAmt09421767
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt028021953
IRS990ScheduleD/EquipmentGrp/BookValueAmt01071110
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03179655
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt04250765
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt019240605
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04602965
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt04602965
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt08347599
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt117730
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt256003
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESTRICTED BOND FUNDS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1NET OPEB ASSET
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2OTHER ASSETS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt015872899
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0416068
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt016288967
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06432628
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1145122
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2209980
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt316582982
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt48330366
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PENSION DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2COMPENSATED ABSENCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3NET OPEB LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4OPEB DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt020408849
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL ADOPTED ASC 740-10 AS IT RELATED TO UNCERTAIN TAX POSITIONS EFFECTIVE FOR THE YEAR ENDED JUNE 30, 2019 AND HAS EVALUATED ITS TAX POSITIONS TAKEN FOR ALL OPEN TAX YEARS. HOWEVER, THE SCHOOL IS NOT CURRENTLY UNDER AUDIT NOR HAS THE SCHOOL BEEN CONTACTED BY THESE JURISDICTIONS. BASED ON THE EVALUATION OF THE SCHOOLS TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR ENDED JUNE 30, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt040147160
IRS990ScheduleD/TotalBookValueOtherAssetsAmt08421332
IRS990ScheduleD/TotalExpensesPerForm990Amt019240605
IRS990ScheduleD/TotalLiabilityAmt031701078
IRS990ScheduleD/TotalRevenuePerForm990Amt020408849
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt020408849
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt019240605
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE POLICY IS INCLUDED IN THE ORGANIZATION'S STATEMENT OF PURPOSE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS A CHARTER SCHOOL UNDER THE NORTH CAROLINA GENERAL STATUTE 115C-218. ACCORDINGLY, IT RECEIVES FEDERAL AND STATE ASSISTANCE THROUGH THE STATE BOARD OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$63,298,910
Liabilities
$73,327,389
Net assets
-$10,028,479
Revenue
$20,408,849
Expenses
$19,240,605
Net income
$1,168,244
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.3$73.5$2.21$28.1$27.8$0.27
2023Summary only. Only limited summary data is available for this year.$69.2$72.0$2.73$29.2$24.5$4.68
2022Summary only. Only limited summary data is available for this year.$64.7$72.2$7.52$26.0$24.0$1.96
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$64.6$74.0$9.48$25.1$23.5$1.65
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.0$76.2$11.1$22.3$23.4$1.11
2019Detailed filing. Detailed filing data is available for this year.$63.3$73.3$10.0$20.4$19.2$1.17
2019Summary only. Only limited summary data is available for this year.$63.3$73.3$10.0$20.4$19.2$1.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$57.9$69.1$11.2$17.2$18.7$1.51
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.3$27.4$10.9$14.0$14.0$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.6$22.7$10.9$13.4$12.6$0.88
2015Summary only. Only limited summary data is available for this year.$33.9$23.9$10.00$12.8$12.3$0.48
2014Detailed filing. Detailed filing data is available for this year.$33.9$21.8$12.1$12.2$12.0$0.20
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.0$22.1$11.9$11.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.4$23.0$11.4$10.5
2011Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
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