Civic Intelligence

Lula Rich Educational Foundation Inc.

990 • Fiscal year 2024 • EIN 64-0433661

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 12, 2024

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

18th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

18th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

44th percentile

2.0%

Higher net margin than 44% 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

40th percentile

0.8%

Faster asset growth than 40% of similar nonprofits.

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

Revenue Growth

40th percentile

2.5%

Faster revenue growth than 40% of similar nonprofits.

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

Assets

Up

$2,889,808

Up $24,291 (+0.8%) from 2023

Net Assets

Up

$2,889,808

Up $38,661 (+1.4%) from 2023

Liabilities

Down

$0

Down $14,370 (-100%) from 2023

Revenue

Up

$1,975,665

Up $48,923 (+2.5%) from 2023

Expenses

Down

$1,937,004

Down $57,522 (-2.9%) from 2023

Net Income

Up

$38,661

Up $106,445 (+157%) from 2023

Historical Trend

Balance Sheet Trend

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

2024

Assets$2,889,808
Liabilities$0
Net Assets$2,889,808

Operations Trend

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

2024

Revenue$1,975,665
Expenses$1,937,004
Net Income$38,661
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 12, 2024
Return Version
2023v5.0
Gross Receipts
$2,084,875
Mission and Program Overview

Mission

Private school grades seventh through twelfth grade

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,720,141$1,803,023▲ $82,882
Savings and Temporary Cash Investments$1,063,921$1,013,505▼ $50,416
Cash and Non-Interest-Bearing Accounts$81,455$73,280▼ $8,175
Total Assets$2,865,517$2,889,808▲ $24,291
Liabilities
Deferred Revenue$14,370--
Total Liabilities$14,370$0▼ $14,370
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,812,384$2,851,045▲ $38,661
Net Assets With Donor Restrictions$38,763$38,763→ $0
Total Net Assets Fund Balance$2,851,147$2,889,808▲ $38,661
Total Liabilities and Net Assets / Fund Balance$2,865,517$2,889,808▲ $24,291

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,563,240$2,209,001-
Other Land Buildings$14,939$184,398-
Land$88,271--
Equipment$136,573$877,827-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jamie GastonPresident
Glenn MontgomeryDirector
Hayden LinleyDirector
Jackson WebbDirector
James CurcioDirector
Jeff HollowellDirector
John WongDirector
Lesley JohnsonDirector
Mary Evelyn StonestreetDirector
Mason DunnDirector
Robert CarsonDirector
Terry SmithDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$208,394
Program Service Revenue
$1,365,658
Investment Income
$32,784
Other Revenue
$368,829
All Other Contributions
$208,394
Change in Net Assets
$38,661
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,106,817
Other Expenses$789,361
Grants and Similar Amounts Paid$40,826
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$702,076$331,171-$1,033,247
Depreciation Depletion$134,942--$134,942
Payroll Taxes$48,235$25,335-$73,570
Insurance$73,566--$73,566
Other Expenses$52,625--$52,625
Grants to Domestic Individuals$40,826--$40,826
Travel$24,099--$24,099
Fees for Services Accounting$8,780--$8,780
Advertising$7,020--$7,020
Total Functional Expenses$1,580,498$356,506$0$1,937,004
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$467,782
Fundraising Direct Expenses$109,210
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ag Day Auction$283,607$283,607$18,325$265,282
Booster Club Co$101,451$101,451$67,447$34,004
Total Events$461,757$461,757$108,210$353,547
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
Jamie Gaston
Title
President
Phone
6626277891
Signed
2024-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jamie Gaston
Formed
1969
Legal Domicile
Ms
Voting Board Members
12
Independent Board Members
12
Employees
31
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

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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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IRS990/ProgSrvcAccomActyOtherGrp/Desc0FOOD SERVICES
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0126209
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt041145
IRS990/PYInvestmentIncomeAmt05505
IRS990/PYOtherExpensesAmt0814442
IRS990/PYOtherRevenueAmt0353208
IRS990/PYProgramServiceRevenueAmt01441820
IRS990/PYRevenuesLessExpensesAmt0-67784
IRS990/PYSalariesCompEmpBnftPaidAmt01138939
IRS990/PYTotalExpensesAmt01994526
IRS990/PYTotalRevenueAmt01926742
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt038661
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01127823
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01063921
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01013505
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01563240
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02209001
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt03772241
IRS990ScheduleD/EquipmentGrp/BookValueAmt0136573
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0877827
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt01014400
IRS990ScheduleD/LandGrp/BookValueAmt088271
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt088271
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt014939
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0184398
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0199337
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01803023
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/DirectExpenseSummaryEventsAmt0108210
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0AG DAY AUCTION
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0BOOSTER CLUB CO
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0283607
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt0101451
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt076699
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0461757
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0283607
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt0101451
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt076699
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0461757
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0353547
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt022438
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0108210
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt018325
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt067447
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt04
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FINANCIAL AID
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1GRANTS-FACULTY CHILDREN
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt027000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt113826
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc1TUITION DISCOUN
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt025
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt12
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
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MS
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02865517
IRS990/TotalAssetsEOYAmt02889808
IRS990/TotalAssetsGrp/BOYAmt02865517
IRS990/TotalAssetsGrp/EOYAmt02889808
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0208394
IRS990/TotalEmployeeCnt031
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0356506
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01580498
IRS990/TotalFunctionalExpensesGrp/TotalAmt01937004
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014370
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt014370
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02851147
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02889808
IRS990/TotalProgramServiceExpensesAmt01580498
IRS990/TotalProgramServiceRevenueAmt01365658
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01408699
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01975665
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02865517
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02889808
IRS990/TravelGrp/ProgramServicesAmt024099
IRS990/TravelGrp/TotalAmt024099
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0P O BOX 638
IRS990/USAddress/CityNm0CLARKSDALE
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd038614
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.LEEACADEMYCOLTS.ORG

Document Assets

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Filings

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