Civic Intelligence

Lula Rich Educational Foundation Inc.

990 • Fiscal year 2022 • EIN 64-0433661

Jul 01, 2021 to Jun 30, 2022 • Filed on Feb 13, 2023

Organization ProfileWWW.LEEACADEMYCOLTS.ORG
415 Lee DriveClarksdale, MS 38614

(662) 627-7891

Siviq Scores

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

Liabilities / Assets

21st percentile

0.00x

Higher debt load relative to assets than 21% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

20th percentile

0.00x

Higher debt load relative to revenue than 20% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

60th percentile

12%

Higher net margin than 60% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

54th percentile

2.8%

Faster asset growth than 54% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

30th percentile

-6.9%

Faster revenue growth than 30% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$2,922,953

Up $79,585 (+2.8%) from 2021

Net Assets

Up

$2,918,931

Up $261,713 (+9.8%) from 2021

Liabilities

Down

$4,022

Down $182,128 (-98%) from 2021

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin60th percentile

Revenue

Down

$2,151,064

Down $159,138 (-6.9%) from 2021

Expenses

Up

$1,889,351

Up $176,557 (+10%) from 2021

Net Income

Down

$261,713

Down $335,695 (-56%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,627,313Liabilities 2011: $226,765Net Assets 2011: $1,400,5482011Assets 2012: $2,482,528Liabilities 2012: $731,708Net Assets 2012: $1,750,8202012Assets 2013: $2,483,421Liabilities 2013: $406,908Net Assets 2013: $2,076,5132013Assets 2014: $2,497,807Liabilities 2014: $312,733Net Assets 2014: $2,185,0742014Assets 2015: $2,191,394Liabilities 2015: $148,050Net Assets 2015: $2,043,3442015Assets 2016: $2,160,742Liabilities 2016: $199,589Net Assets 2016: $1,961,1532016Assets 2017: $2,208,997Liabilities 2017: $172,834Net Assets 2017: $2,036,1632017Assets 2018: $2,134,641Liabilities 2018: $112,626Net Assets 2018: $2,022,0152018Assets 2019: $2,049,837Liabilities 2019: $22,883Net Assets 2019: $2,026,9542019Assets 2020: $2,224,168Liabilities 2020: $164,358Net Assets 2020: $2,059,8102020Assets 2021: $2,843,368Liabilities 2021: $186,150Net Assets 2021: $2,657,2182021Assets 2022: $2,922,953Liabilities 2022: $4,022Net Assets 2022: $2,918,9312022Assets 2023: $2,865,517Liabilities 2023: $14,370Net Assets 2023: $2,851,1472023Assets 2024: $2,889,808Liabilities 2024: $0Net Assets 2024: $2,889,8082024Assets 2025: $2,806,857Liabilities 2025: $0Net Assets 2025: $2,806,8572025

Highlighted filing

2022

Assets$2,922,953
Liabilities$4,022
Net Assets$2,918,931
Open 2022 Filing

Operations Trend

Revenue Growth30th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $2,459,226Expenses 2011: $2,299,024Net Income 2011: $160,2022011Revenue 2012: $2,881,522Expenses 2012: $2,531,250Net Income 2012: $350,2722012Revenue 2013: $2,886,035Expenses 2013: $2,560,342Net Income 2013: $325,6932013Revenue 2014: $2,592,435Expenses 2014: $2,483,874Net Income 2014: $108,5612014Revenue 2015: $2,591,135Expenses 2015: $2,732,865Net Income 2015: -$141,7302015Revenue 2016: $2,407,923Expenses 2016: $2,490,114Net Income 2016: -$82,1912016Revenue 2017: $1,893,590Expenses 2017: $1,818,580Net Income 2017: $75,0102017Revenue 2018: $1,717,726Expenses 2018: $1,731,874Net Income 2018: -$14,1482018Revenue 2019: $1,773,110Expenses 2019: $1,768,172Net Income 2019: $4,9382019Revenue 2020: $1,728,610Expenses 2020: $1,695,754Net Income 2020: $32,8562020Revenue 2021: $2,310,202Expenses 2021: $1,712,794Net Income 2021: $597,4082021Revenue 2022: $2,151,064Expenses 2022: $1,889,351Net Income 2022: $261,7132022Revenue 2023: $1,926,742Expenses 2023: $1,994,526Net Income 2023: -$67,7842023Revenue 2024: $1,975,665Expenses 2024: $1,937,004Net Income 2024: $38,6612024Revenue 2025: $1,966,960Expenses 2025: $2,049,911Net Income 2025: -$82,9512025

Highlighted filing

2022

Revenue$2,151,064
Expenses$1,889,351
Net Income$261,713
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Feb 13, 2023
Return Version
2021v4.0
Gross Receipts
$2,261,330
Mission and Program Overview

Mission

Private school grades seventh through twelfth grade

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$941,266$1,451,130▲ $509,864
Land, Buildings, and Equipment, Net$1,503,242$1,387,587▼ $115,655
Accounts Receivable$325,799--
Cash and Non-Interest-Bearing Accounts$73,061$84,236▲ $11,175
Total Assets$2,843,368$2,922,953▲ $79,585
Liabilities
Deferred Revenue$186,150$4,022▼ $182,128
Total Liabilities$186,150$4,022▼ $182,128
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,618,455$2,880,168▲ $261,713
Net Assets With Donor Restrictions$38,763$38,763→ $0
Total Net Assets Fund Balance$2,657,218$2,918,931▲ $261,713
Total Liabilities and Net Assets / Fund Balance$2,843,368$2,922,953▲ $79,585

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,200,145$2,055,935-
Other Land Buildings$168$177,169-
Land$88,271--
Equipment$99,003$792,332-
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Terry SmithPresident
Glenn MontgomeryDirector
Jackson WebbDirector
James CurcioDirector
Jamie GastonDirector
Jeff AllenDirector
Jimmy WalkerDirector
John WongDirector
Lesley JohnsonDirector
Madelyn MarleyDirector
Mary Evelyn StonestreetDirector
Scott FlowersDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$352,739
Program Service Revenue
$1,229,086
Investment Income
$15,489
Other Revenue
$553,750
All Other Contributions
$6,019
Change in Net Assets
$261,713
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,134,125
Other Expenses$717,011
Grants and Similar Amounts Paid$38,215
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$715,945$342,212-$1,058,157
Depreciation Depletion$129,715--$129,715
Payroll Taxes$49,789$26,179-$75,968
Fees for Services Accounting$60,897--$60,897
Insurance$47,056--$47,056
Grants to Domestic Individuals$38,215--$38,215
Other Expenses$35,029--$35,029
Travel$13,127--$13,127
Advertising$4,097--$4,097
Total Functional Expenses$1,520,960$368,391$0$1,889,351
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$650,854
Fundraising Direct Expenses$110,266
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ag Day Auction$259,937$259,937$22,923$237,014
Annual Fund$240,338$240,338-$240,338
Total Events$645,210$645,210$110,266$534,944
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 11B

“The form 990 tax return is received by the governing body at their board meeting. A copy is given to the president of the board who looks at the form 990 and answers questions from board members and the public.”

Form 990, Page 6, Part VI, Line 19

“The public is advised when enrolling their children that the organization's financial statements are available for public inspection.”

Filing and Contact Details

Filer

Filer Name
Lula Rich Educational Foundation
EIN
64-0433661
Phone
6626277891
Address
415 LEE DRIVE, CLARKSDALE, MS 38614

Signing Officer

Name
Terry Smith
Title
President
Phone
6626277891
Signed
2023-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terry Smith
Formed
1969
Legal Domicile
Ms
Voting Board Members
12
Independent Board Members
12
Employees
37
Volunteers
20

Preparer

Firm
Walters & Balducci Pllc
Address
PO BOX 896, CLARKSDALE, MS 38614
Preparer
W L Walters CPA
Phone
6626246534
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“FOOD SERVICES”

Raw XML AppendixShowing 400 of 427 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/PYGrantsAndSimilarPaidAmt031144
IRS990/PYInvestmentIncomeAmt01716
IRS990/PYOtherExpensesAmt0651691
IRS990/PYOtherRevenueAmt0507736
IRS990/PYProgramServiceRevenueAmt01109142
IRS990/PYRevenuesLessExpensesAmt0597408
IRS990/PYSalariesCompEmpBnftPaidAmt01029959
IRS990/PYTotalExpensesAmt01712794
IRS990/PYTotalRevenueAmt02310202
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0261713
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01018557
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0941266
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01451130
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01200145
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02055935
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt03256080
IRS990ScheduleD/EquipmentGrp/BookValueAmt099003
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0792332
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0891335
IRS990ScheduleD/LandGrp/BookValueAmt088271
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt088271
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0168
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0177169
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0177337
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01387587
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/ExplanationTxt0THE SCHOOL HAS PUBLISHED ITS NONDISCRIMINATION POLICY IN THE LOCAL NEWSPAPER.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0110266
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0AG DAY AUCTION
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0ANNUAL FUND
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0259937
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt0240338
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt0144935
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0645210
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0259937
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt0240338
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt0144935
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0645210
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0534944
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt087343
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0110266
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt022923
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt05
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0GRANTS-FACULTY CHILDREN
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1FINANCIAL AID
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt013046
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt125169
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0TUITION DISCOUN
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc1SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt02
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt119
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc1FMV
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FOOD SERVICES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 TAX RETURN IS RECEIVED BY THE GOVERNING BODY AT THEIR BOARD MEETING. A COPY IS GIVEN TO THE PRESIDENT OF THE BOARD WHO LOOKS AT THE FORM 990 AND ANSWERS QUESTIONS FROM BOARD MEMBERS AND THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PUBLIC IS ADVISED WHEN ENROLLING THEIR CHILDREN THAT THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02843368
IRS990/TotalAssetsEOYAmt02922953
IRS990/TotalAssetsGrp/BOYAmt02843368
IRS990/TotalAssetsGrp/EOYAmt02922953
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IRS990/TotalContributionsAmt0352739
IRS990/TotalEmployeeCnt037
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0368391
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01520960
IRS990/TotalFunctionalExpensesGrp/TotalAmt01889351
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0186150
IRS990/TotalLiabilitiesEOYAmt04022
IRS990/TotalLiabilitiesGrp/BOYAmt0186150
IRS990/TotalLiabilitiesGrp/EOYAmt04022
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02657218
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02918931
IRS990/TotalOtherProgSrvcRevenueAmt01029
IRS990/TotalProgramServiceExpensesAmt01520960
IRS990/TotalProgramServiceRevenueAmt01229086
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01257737
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02151064
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02843368
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02922953
IRS990/TravelGrp/ProgramServicesAmt013127
IRS990/TravelGrp/TotalAmt013127
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0700 SALMON ROAD
IRS990/USAddress/CityNm0COAHOMA
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd038617
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.LEEACADEMYCOLTS.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TERRY SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,922,953
Liabilities
$4,022
Net assets
$2,918,931
Revenue
$2,151,064
Expenses
$1,889,351
Net income
$261,713
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.81$0.00$2.81$1.97$2.05$0.08
2024Detailed filing. Detailed filing data is available for this year.$2.89$0.00$2.89$1.98$1.94$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.87$0.01$2.85$1.93$1.99$0.07
2022Detailed filing. Detailed filing data is available for this year.$2.92$0.00$2.92$2.15$1.89$0.26
2021Detailed filing. Detailed filing data is available for this year.$2.84$0.19$2.66$2.31$1.71$0.60
2020Detailed filing. Detailed filing data is available for this year.$2.22$0.16$2.06$1.73$1.70$0.03
2019Summary only. Only limited summary data is available for this year.$2.05$0.02$2.03$1.77$1.77$0.00
2018Summary only. Only limited summary data is available for this year.$2.13$0.11$2.02$1.72$1.73$0.01
2017Summary only. Only limited summary data is available for this year.$2.21$0.17$2.04$1.89$1.82$0.08
2016Summary only. Only limited summary data is available for this year.$2.16$0.20$1.96$2.41$2.49$0.08
2015Summary only. Only limited summary data is available for this year.$2.19$0.15$2.04$2.59$2.73$0.14
2014Summary only. Only limited summary data is available for this year.$2.50$0.31$2.19$2.59$2.48$0.11
2013Summary only. Only limited summary data is available for this year.$2.48$0.41$2.08$2.89$2.56$0.33
2012Summary only. Only limited summary data is available for this year.$2.48$0.73$1.75$2.88$2.53$0.35
2011Summary only. Only limited summary data is available for this year.$1.63$0.23$1.40$2.46$2.30$0.16