Civic Intelligence

Southern Catholic Inc

990 • Fiscal year 2015 • EIN 58-2533742

Jul 01, 2014 to Jun 30, 2015 • Filed on Jan 11, 2016

Organization ProfileN/A

View Organization Page

PO Box 628Dawsonville, GA 30534

(706) 216-4313

Siviq Scores

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

Liabilities / Assets

100th percentile

12.12x

Higher debt load relative to assets than 100% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2015

Net Margin

100th percentile

134%

Higher net margin than 100% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$2,750

Higher top officer pay than 35% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

1st percentile

-91%

Faster asset growth than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$272,833

Down $2,824,575 (-91%) from 2014

Net Assets

Down

-$3,034,794

Down $487,487 (-19%) from 2014

Liabilities

Down

$3,307,627

Down $2,337,088 (-41%) from 2014

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$362,581

Down $470,730 (-435%) from 2014

Expenses

Down

$124,906

Down $69,079 (-36%) from 2014

Net Income

Down

-$487,487

Down $401,651 (-468%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $11,390,746Liabilities 2010: $14,840,371Net Assets 2010: -$3,449,6252010Assets 2011: $3,972,371Liabilities 2011: $6,575,859Net Assets 2011: -$2,603,4882011Assets 2012: $3,449,100Liabilities 2012: $6,432,115Net Assets 2012: -$2,983,0152012Assets 2013: $3,201,587Liabilities 2013: $5,663,058Net Assets 2013: -$2,461,4712013Assets 2014: $3,097,408Liabilities 2014: $5,644,715Net Assets 2014: -$2,547,3072014Assets 2015: $272,833Liabilities 2015: $3,307,627Net Assets 2015: -$3,034,7942015Assets 2016: $238,599Liabilities 2016: $3,307,622Net Assets 2016: -$3,069,0232016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2015

Assets$272,833
Liabilities$3,307,627
Net Assets-$3,034,794
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0-$5.0MExpenses 2010: $8,963,0062010Expenses 2011: $2,099,2972011Expenses 2012: $261,4482012Revenue 2013: $824,383Expenses 2013: $302,839Net Income 2013: $521,5442013Revenue 2014: $108,149Expenses 2014: $193,985Net Income 2014: -$85,8362014Revenue 2015: -$362,581Expenses 2015: $124,906Net Income 2015: -$487,4872015Revenue 2016: $7,477Expenses 2016: $41,706Net Income 2016: -$34,2292016Revenue 2017: $3,298,199Expenses 2017: $229,176Net Income 2017: $3,069,0232017

Highlighted filing

2015

Revenue-$362,581
Expenses$124,906
Net Income-$487,487
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jan 11, 2016
Return Version
2014v6.0
Gross Receipts
$2,445,117
Mission and Program Overview

Mission

A co-educational liberal arts college committed to the authoritative teachings of the roman catholic church. Within a nurturing and loving community, it provides a fully integrated education grounded in natural and revealed truth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$4,398,135$3,216,595▼ $1,181,540
Land, Buildings, and Equipment, Net$2,747,808--
Other Notes and Loans Receivable, Net$316,515$258,045▼ $58,470
Accounts Receivable$30,502--
Cash and Non-Interest-Bearing Accounts$2,583$14,788▲ $12,205
Total Assets$3,097,408$272,833▼ $2,824,575
Liabilities
Accounts Payable and Accrued Expenses$1,246,580$91,032▼ $1,155,548
Total Liabilities$5,644,715$3,307,627▼ $2,337,088
Net Assets / Fund Balance
Unrestricted Net Assets$-2,547,307$-3,034,794▼ $487,487
Total Net Assets Fund Balance$-2,547,307$-3,034,794▼ $487,487
Total Liabilities and Net Assets / Fund Balance$3,097,408$272,833▼ $2,824,575

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2011$212,552----
Compensation and Service Providers
Top Officer Pay35th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nicholas D BainVice ChairmaPT$2,750$2,750

Board Members and Trustees

NameTitle
Edward L SchroederChairman
John H CrillyTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$1,301,978
Program Service Revenue
$737
Investment Income
$-1,683,011
Other Revenue
$17,715
All Other Contributions
$1,301,978
Change in Net Assets
$-487,487
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$68,137
Salaries, Compensation, and Employee Benefits$56,769
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$48,159-$48,159
Depreciation Depletion-$18,492-$18,492
Payroll Taxes-$5,860-$5,860
Office Expenses-$4,474-$4,474
Occupancy-$3,880-$3,880
Fees for Services Other-$3,567-$3,567
Fees for Services Accounting-$3,200-$3,200
Current Officers, Directors, Trustees, and Key Employees-$2,750-$2,750
Other Expenses-$641-$641
Insurance-$166-$166
Total Functional Expenses$0$124,906$0$124,906
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Scc Villas LLCSee Sch L Pt. VSale of Adj. LandNo$1,846,944
Barkwood LLCSee Sch L Pt. VSale of LandNo$1,036,539
Joncar LLCSee Sch L Pt. VSale of Adj. LandNo$138,707

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$4,398,135$3,216,595▼ $1,181,540
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
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
Yes
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

“A review of the form 990 will be conducted before filing.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Southern Catholic Inc
EIN
58-2533742
Phone
7062164313
Address
PO BOX 628, DAWSONVILLE, GA 30534

Signing Officer

Name
Nicholas D Bain
Title
President
Phone
7062164313
Signed
2016-01-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicholas D Bain
Formed
2000
Legal Domicile
Ga
Voting Board Members
3
Independent Board Members
0
Employees
2

Preparer

Firm
Brooks Mcginnis & Company LLC
Address
5607 GLENRIDGE DR STE 650, ATLANTA, GA 30342-4959
Preparer
Kathy J Redgate
Phone
4045314940
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“A co-educational liberal arts college committed to the authoritative teachings of the roman catholic church. Within a nurturing and loving community, it provides a fully integrated education grounded in natural and revealed truth.”

Form 990, Page 2, Part III, Line 3

“The campus was sold in october 2014.”

Raw XML Appendix355 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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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0SOUTHERN CATHOLIC, INC. ENTERED INTO A TRANSACTION TO SALE THE REMAINDER OF ITS CAMPUS TO A GEORGIA NON-PROFIT ORGANIZATION, ST. MARY AND ST. DEMIANA COPTIC ORTHODOX CONVENT, INC., IN OCTOBER 2014. THE REAL ESTATE TRANSACTION INCLUDED THE SALE OF ADJACENT LAND HELD BY OTHER ENTITIES. THE TOTAL NET PROCEEDS RECEIVED FROM THE SALE OF LAND HELD BY SOUTHERN CATHOLIC AND OWNERS OF ADJACENT PROPERTY TOTALED 3,022,190. THIS AMOUNT WAS SPLIT BETWEEN THREE ENTITIES. THE NET PROCEEDS FROM THE SALE OF SOUTHERN CATHOLIC'S LAND WAS 1,036,539 WHICH WAS USED TO REPAY ITS LOAN TO EDWARD SCHROEDER. THIS AMOUNT WAS PAID TO BARKWOOD, LLC WHICH IS 100% OWNED BY MR. SCHROEDER, AN OFFICER OF SOUTHERN CATHOLIC. NET PROCEEDS OF 1,846,944 WAS PAID TO SCC VILLAS, LLC FOR THE SALE OF ADJACENT LAND. SCC VILLAS, LLC IS OWNED 50% BY NICHOLAS BAIN, AN OFFICER OF SOUTHERN CATHOLIC, AND 50% BY JOHN CRILLY, A TRUSTEE OF SOUTHERN CATHOLIC. THE REMAINDER OF THE NET PROCEEDS OF 138,707 WAS PAID TO JONCAR, LLC FOR THE SALE OF ADJACENT LAND. THIS ENTITY IS OWNED 100% BY MR. CRILLY.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990ScheduleL/TotalBalanceDueAmt03216595
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A CO-EDUCATIONAL LIBERAL ARTS COLLEGE COMMITTED TO THE AUTHORITATIVE TEACHINGS OF THE ROMAN CATHOLIC CHURCH. WITHIN A NURTURING AND LOVING COMMUNITY, IT PROVIDES A FULLY INTEGRATED EDUCATION GROUNDED IN NATURAL AND REVEALED TRUTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CAMPUS WAS SOLD IN OCTOBER 2014.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A REVIEW OF THE FORM 990 WILL BE CONDUCTED BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0true
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0GA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03097408
IRS990/TotalAssetsEOYAmt0272833
IRS990/TotalAssetsGrp/BOYAmt03097408
IRS990/TotalAssetsGrp/EOYAmt0272833
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01301978
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0124906
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0124906
IRS990/TotalGrossUBIAmt01000
IRS990/TotalLiabilitiesBOYAmt05644715
IRS990/TotalLiabilitiesEOYAmt03307627
IRS990/TotalLiabilitiesGrp/BOYAmt05644715
IRS990/TotalLiabilitiesGrp/EOYAmt03307627
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2547307
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3034794
IRS990/TotalProgramServiceRevenueAmt0737
IRS990/TotalReportableCompFromOrgAmt02750
IRS990/TotalRevenueGrp/ExclusionAmt0-1666296
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0737
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-362581
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01000
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03097408
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0272833
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2547307
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-3034794
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0650 TURNBRIDGE CT
IRS990/USAddress/CityNm0JOHNS CREEK
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd030022
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NICHOLAS D BAIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07062164313
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-01-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTHERN CATHOLIC INC
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0582533742
ReturnHeader/Filer/PhoneNum07062164313
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 628
ReturnHeader/Filer/USAddress/CityNm0DAWSONVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd030534
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0582161308
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BROOKS MCGINNIS & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05607 GLENRIDGE DR STE 650
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ATLANTA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0303424959
ReturnHeader/PreparerPersonGrp/PhoneNum04045314940
ReturnHeader/PreparerPersonGrp/PreparationDt02016-01-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KATHY J REDGATE
ReturnHeader/ReturnTs02016-01-20T09:40:46-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$272,833
Liabilities
$3,307,627
Net assets
-$3,034,794
Revenue
-$362,581
Expenses
$124,906
Net income
-$487,487
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$3.30$0.23$3.07
2016Detailed filing. Detailed filing data is available for this year.$0.24$3.31$3.07$0.01$0.04$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.27$3.31$3.03$0.36$0.12$0.49
2014Detailed filing. Detailed filing data is available for this year.$3.10$5.64$2.55$0.11$0.19$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.20$5.66$2.46$0.82$0.30$0.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.45$6.43$2.98$0.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.97$6.58$2.60$2.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$14.8$3.45$8.96