Civic Intelligence

Phoenix Academy Foundation Inc.

990 • Fiscal year 2015 • EIN 61-1705253

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 10, 2015

Organization ProfileN/A
7851 Clinard Farms RoadHigh Point, NC 27265

(336) 880-1713

Siviq Scores

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

Liabilities / Assets

87th percentile

0.80x

Higher debt load relative to assets than 87% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

77th percentile

0.40x

Higher debt load relative to revenue than 77% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Net Margin

58th percentile

5.2%

Higher net margin than 58% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

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

2015 filings • NTEE B • $1M-$5M nonprofits • Source year 2015

Asset Growth

1st percentile

-69%

Faster asset growth than 1% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

88th percentile

59%

Faster revenue growth than 88% of similar nonprofits.

2015 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$582,489

Down $1,294,799 (-69%) from 2014

Net Assets

Up

$116,497

Up $59,585 (+105%) from 2014

Liabilities

Down

$465,992

Down $1,354,384 (-74%) from 2014

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin58th percentile

Revenue

Up

$1,155,347

Up $426,517 (+59%) from 2014

Expenses

Up

$1,095,762

Up $439,443 (+67%) from 2014

Net Income

Down

$59,585

Down $12,926 (-18%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$40M$30M$20M$10M$0-$10MAssets 2014: $1,877,288Liabilities 2014: $1,820,376Net Assets 2014: $56,9122014Assets 2015: $582,489Liabilities 2015: $465,992Net Assets 2015: $116,4972015Assets 2016: $520,459Liabilities 2016: $142,266Net Assets 2016: $378,1932016Assets 2017: $375,067Liabilities 2017: $0Net Assets 2017: $375,0672017Assets 2018: $30,619,175Liabilities 2018: $31,301,364Net Assets 2018: -$682,1892018

Highlighted filing

2015

Assets$582,489
Liabilities$465,992
Net Assets$116,497
Open 2015 Filing

Operations Trend

Revenue Growth88th percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2014: $728,830Expenses 2014: $656,319Net Income 2014: $72,5112014Revenue 2015: $1,155,347Expenses 2015: $1,095,762Net Income 2015: $59,5852015Revenue 2016: $495,606Expenses 2016: $233,910Net Income 2016: $261,6962016Revenue 2017: $84,101Expenses 2017: $87,227Net Income 2017: -$3,1262017Revenue 2018: $1,736,201Expenses 2018: $2,793,457Net Income 2018: -$1,057,2562018

Highlighted filing

2015

Revenue$1,155,347
Expenses$1,095,762
Net Income$59,585
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 10, 2015
Return Version
2014v5.0
Gross Receipts
$2,051,425
Mission and Program Overview

Mission

To support the activities of phoenix academy, inc. By providing school facilities through lease and sublease arrangements for school events.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,288,400$480,923▼ $807,477
Rtn Earn Endowment Incm Other Fnds$72,511$132,096▲ $59,585
Cash and Non-Interest-Bearing Accounts$526,128$54,060▼ $472,068
Accounts Receivable$62,760$45,709▼ $17,051
Intangible Assets-$1,797-
Cap Stk Tr Prin Current Funds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$-15,599$-15,599→ $0
Total Assets$1,877,288$582,489▼ $1,294,799
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,454,899$465,992▼ $988,907
Accounts Payable and Accrued Expenses$365,477$0▼ $365,477
Total Liabilities$1,820,376$465,992▼ $1,354,384
Net Assets / Fund Balance
Total Net Assets Fund Balance$56,912$116,497▲ $59,585
Total Liabilities and Net Assets / Fund Balance$1,877,288$582,489▼ $1,294,799

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$251,223$143,110$394,333
Land$229,700-$229,700
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Paul NorcrossChairman / Director
Perry FlynnVice Chairman / Director
Janet CliffordDirector
Kimberly NorcrossSecretary / Director
Barry KitleyTreasurer / Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$851,425
Investment Income
$303,922
Other Revenue
$0
Change in Net Assets
$59,585
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,095,762
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$916,595--$916,595
Depreciation Depletion$101,917--$101,917
Interest$47,384--$47,384
Fees for Services Legal$21,027--$21,027
Advertising$5,333--$5,333
Fees for Services Accounting$2,181--$2,181
Office Expenses$1,325--$1,325
Total Functional Expenses$1,095,762$0$0$1,095,762
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 A, Line 2

“The chairman of the board and director are husband and wife.”

Form 990, Part VI, Section B, Line 11

“The board reviews and approves the 990 prior to filing.”

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

“The board established and monitors the conflict of interest statement”

Form 990, Part VI, Section B, Line 15

“The board sets the salaries for the ceo and executive director based on industry standards. The board approves the salaries of key staff based on an evaluation of industry standards.”

Form 990, Part VI, Section C, Line 19

“Documents available upon request”

Filing and Contact Details

Filer

Filer Name
Phoenix Academy Foundation Inc
EIN
61-1705253
Phone
3368801713
Address
7851 CLINARD FARMS ROAD, HIGH POINT, NC 27265

Signing Officer

Name
Paul J Norcross
Title
Chairman
Phone
3368801713
Signed
2015-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul J Norcross
Formed
2013
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
1

Preparer

Firm
Smith Leonard Pllc
Address
4035 PREMIER DRIVE SUITE 300, HIGH POINT, NC 27265
Preparer
Paragi B Jariwala
Phone
3368830181
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CHAIRMAN OF THE BOARD AND DIRECTOR ARE HUSBAND AND WIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS AND APPROVES THE 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD ESTABLISHED AND MONITORS THE CONFLICT OF INTEREST STATEMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD SETS THE SALARIES FOR THE CEO AND EXECUTIVE DIRECTOR BASED ON INDUSTRY STANDARDS. THE BOARD APPROVES THE SALARIES OF KEY STAFF BASED ON AN EVALUATION OF INDUSTRY STANDARDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PHOENIX ACADEMY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0PHOE
ReturnHeader/Filer/EIN0611705253
ReturnHeader/Filer/PhoneNum03368801713
ReturnHeader/Filer/USAddress/AddressLine1Txt07851 CLINARD FARMS ROAD
ReturnHeader/Filer/USAddress/CityNm0HIGH POINT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027265
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205907591
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SMITH LEONARD PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04035 PREMIER DRIVE SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HIGH POINT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027265
ReturnHeader/PreparerPersonGrp/PhoneNum03368830181
ReturnHeader/PreparerPersonGrp/PreparationDt02015-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PARAGI B JARIWALA
ReturnHeader/ReturnTs02015-11-13T15:44:32-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$582,489
Liabilities
$465,992
Net assets
$116,497
Revenue
$1,155,347
Expenses
$1,095,762
Net income
$59,585
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$30.6$31.3$0.68$1.74$2.79$1.06
2017Summary only. Only limited summary data is available for this year.$0.38$0.00$0.38$0.08$0.09$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.52$0.14$0.38$0.50$0.23$0.26
2015Detailed filing. Detailed filing data is available for this year.$0.58$0.47$0.12$1.16$1.10$0.06
2014Detailed filing. Detailed filing data is available for this year.$1.88$1.82$0.06$0.73$0.66$0.07