Civic Intelligence

Leake Academy Inc.

990 • Fiscal year 2019 • EIN 64-0537630

Jul 01, 2018 to Jun 30, 2019 • Filed on May 08, 2019

Organization ProfileLEAKEACADEMY.ORG

View Organization Page

PO Box 128Madden, MS 39109

(601) 267-4461

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.09x

Higher debt load relative to assets than 52% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

52nd percentile

0.10x

Higher debt load relative to revenue than 52% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

66th percentile

10%

Higher net margin than 66% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

70th percentile

$103,434

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

50th percentile

3.0%

Faster asset growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

42nd percentile

1.1%

Faster revenue growth than 42% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$2,476,256

Up $72,822 (+3.0%) from 2018

Net Assets

Up

$2,243,197

Up $263,346 (+13%) from 2018

Liabilities

Down

$233,059

Down $190,524 (-45%) from 2018

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin66th percentile

Revenue

Up

$2,421,319

Up $26,621 (+1.1%) from 2018

Expenses

Up

$2,173,518

Up $8,712 (+0.4%) from 2018

Net Income

Up

$247,801

Up $17,909 (+7.8%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2015: $1,677,058Liabilities 2015: $385,833Net Assets 2015: $1,291,2252015Assets 2016: $1,914,746Liabilities 2016: $453,261Net Assets 2016: $1,461,4852016Assets 2017: $2,022,957Liabilities 2017: $400,941Net Assets 2017: $1,622,0162017Assets 2018: $2,403,434Liabilities 2018: $423,583Net Assets 2018: $1,979,8512018Assets 2019: $2,476,256Liabilities 2019: $233,059Net Assets 2019: $2,243,1972019Assets 2020: $2,858,619Liabilities 2020: $502,586Net Assets 2020: $2,356,0332020Assets 2021: $3,103,141Liabilities 2021: $155,705Net Assets 2021: $2,947,4362021Assets 2022: $3,238,115Liabilities 2022: $165,948Net Assets 2022: $3,072,1672022Assets 2023: $3,309,875Liabilities 2023: $150,587Net Assets 2023: $3,159,2882023Assets 2024: $3,187,657Liabilities 2024: $176,680Net Assets 2024: $3,010,9772024

Highlighted filing

2019

Assets$2,476,256
Liabilities$233,059
Net Assets$2,243,197
Open 2019 Filing

Operations Trend

Revenue Growth42nd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $2,003,337Expenses 2015: $1,911,055Net Income 2015: $92,2822015Revenue 2016: $2,205,576Expenses 2016: $2,087,260Net Income 2016: $118,3162016Revenue 2017: $2,390,323Expenses 2017: $2,229,792Net Income 2017: $160,5312017Revenue 2018: $2,394,698Expenses 2018: $2,164,806Net Income 2018: $229,8922018Revenue 2019: $2,421,319Expenses 2019: $2,173,518Net Income 2019: $247,8012019Revenue 2020: $2,344,131Expenses 2020: $2,231,829Net Income 2020: $112,3022020Revenue 2021: $2,849,713Expenses 2021: $2,348,616Net Income 2021: $501,0972021Revenue 2022: $2,673,062Expenses 2022: $2,548,331Net Income 2022: $124,7312022Revenue 2023: $2,648,422Expenses 2023: $2,561,301Net Income 2023: $87,1212023Revenue 2024: $2,608,413Expenses 2024: $2,756,724Net Income 2024: -$148,3112024

Highlighted filing

2019

Revenue$2,421,319
Expenses$2,173,518
Net Income$247,801
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 8, 2019
Return Version
2018v3.2
Gross Receipts
$2,421,319
Mission and Program Overview

Mission

Leake academy is a private school that provides education for pre- kindergarten through grade 12. Leake academy is a member of the mississippi association of independent schools and is committed to the education of its students. The school's learning experience encourages responsible citizenship, creative expression, physical development, and academic achievement. Leake academy continues to maintain its tradition of excellence in a structured learning environment. The administration and faculty join together in their support of a school that clearly defines high expectations and a successful learning experience.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,403,560$1,405,131▲ $1,571
Pd in Cap Srpls Land Bldg Eqp Fund$1,292,217$1,292,217→ $0
Land, Buildings, and Equipment, Net$976,257$1,034,646▲ $58,389
Rtn Earn Endowment Incm Other Fnds$687,634$950,980▲ $263,346
Accounts Receivable$17,178$33,899▲ $16,721
Prepaid Expenses and Deferred Charges$6,439$2,580▼ $3,859
Total Assets$2,403,434$2,476,256▲ $72,822
Liabilities
Other Liabilities$153,098$128,963▼ $24,135
Unsecured Notes Loans Payable$261,881$60,748▼ $201,133
Accounts Payable and Accrued Expenses$8,604$43,348▲ $34,744
Total Liabilities$423,583$233,059▼ $190,524
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,979,851$2,243,197▲ $263,346
Total Liabilities and Net Assets / Fund Balance$2,403,434$2,476,256▲ $72,822

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$829,764$449,393$1,279,157
Equipment$62,169$382,138$444,307
Land$142,713-$142,713
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleBaseTotal
Brian PickensHead of Scho$103,434$103,434
Olivia SmithPrincipal$53,699$53,699

Board Members and Trustees

NameTitle
Dale ScottPresident /
Dan YoungDirector
Jessica MyersDirector
John SprayberryDirector
Melissa WarrenDirector
Philip PrinceDirector
Ryan MckayDirector
Mike MayfieldSecretary /
Ty JohnstonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$31,141
Program Service Revenue
$2,389,324
Investment Income
$854
Other Revenue
$0
All Other Contributions
$31,141
Change in Net Assets
$247,801
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,627,482
Other Expenses$546,036
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,302,472--$1,302,472
All Other Expenses$167,538--$167,538
Current Officers, Directors, Trustees, and Key Employees$157,133--$157,133
Payroll Taxes$113,915--$113,915
Other Employee Benefits$53,962--$53,962
Depreciation Depletion$51,025--$51,025
Other Expenses$48,991--$48,991
Insurance$25,254--$25,254
Office Expenses$19,495--$19,495
Fees for Services Legal$7,035--$7,035
Interest$4,171--$4,171
Travel$2,725--$2,725
Total Functional Expenses$2,173,518$0$0$2,173,518
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
Auxilary Funds$53,292
Prepaid Tuition$44,978
Prepaid Fees$17,075
Payroll Liabilities$13,618
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
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
Yes
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 7A

“The board of directors are elected annually by the members of the schools parents. Each director is elected to a three year term.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 was reviewed by the board of directors during a regularly scheduled meeting. The board of directors voted to approve the form 990 by unanimous vote. Prior to this board meeting, the form 990 was reviewed by the president of the board of directors, the school's principal and others responsible for the preparation and review of the form 990.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors discusses and votes on the principal's salary as well as well as bonuses for teaching staff.”

Form 990, Page 6, Part VI, Line 19

“The organizations governing documents are available on its website and are available upon request. The form 1023 and form 990 are available upon request. Information regarding how to request a copy of the form 1023 and form 990 is available on the website.”

Filing and Contact Details

Filer

Filer Name
Leake Academy Inc
EIN
64-0537630
Phone
6012674461
Address
PO BOX 128, MADDEN, MS 39109

Signing Officer

Name
Brian Pickens
Title
Head of School
Phone
6012674461
Signed
2019-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Pickens
Formed
1973
Legal Domicile
Ms
Voting Board Members
9
Independent Board Members
9
Employees
61
Volunteers
25

Preparer

Firm
DONALD AND CO CPA'S PLLC
Address
313A MAIN ST, PHILADELPHIA, MS 39350-2652
Preparer
Michael a Donald CPA
Phone
6016565902
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Leake academy is a private school that provides education for pre- kindergarten through grade 12. Leake academy is a member of the mississippi association of independent schools and is committed to the education of its students. The school's learning experience encourages responsible citizenship, creative expression, physical development, and academic achievement. Leake academy continues to maintain its tradition of excellence in a structured learning environment. The administration and faculty join together in their support of a school that clearly defines high expectations and a successful learning experience.”

Form 990, Part XI, Line 9

“Capital contributed 15,545 transfers from pto 0 other 0 total 15,545”

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IRS990/ProgramServiceRevenueGrp/Desc0TUITION
IRS990/ProgramServiceRevenueGrp/Desc1FOUNDATION FEES
IRS990/ProgramServiceRevenueGrp/Desc2DUES, FEES, ETC
IRS990/ProgramServiceRevenueGrp/Desc3ATHLETIC EVENT REVENUE
IRS990/ProgramServiceRevenueGrp/Desc4TECHNOLOGY FEES
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IRS990/PYTotalExpensesAmt02164806
IRS990/PYTotalRevenueAmt02394698
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IRS990/RelatedEntityInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01279157
IRS990ScheduleD/EquipmentGrp/BookValueAmt062169
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0382138
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0444307
IRS990ScheduleD/LandGrp/BookValueAmt0142713
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0142713
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt053292
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt144978
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt217075
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt313618
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0AUXILARY FUNDS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID TUITION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PREPAID FEES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PAYROLL LIABILITIES
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IRS990ScheduleD/TotalLiabilityAmt0128963
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PUBLISHES ITS NON-DISCRIMINATION POLICY IN CONJUNCTION WITH ITS NOTICE FOR OPEN ENROLLMENT. THIS INFORMATION IS AVAILABLE ON ITS WEBSITE. IN ADDITION, THE NOTICE IS PUBLISHED IN LOCAL NEWSPAPERS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LEAKE ACADEMY IS A PRIVATE SCHOOL THAT PROVIDES EDUCATION FOR PRE- KINDERGARTEN THROUGH GRADE 12. LEAKE ACADEMY IS A MEMBER OF THE MISSISSIPPI ASSOCIATION OF INDEPENDENT SCHOOLS AND IS COMMITTED TO THE EDUCATION OF ITS STUDENTS. THE SCHOOL'S LEARNING EXPERIENCE ENCOURAGES RESPONSIBLE CITIZENSHIP, CREATIVE EXPRESSION, PHYSICAL DEVELOPMENT, AND ACADEMIC ACHIEVEMENT. LEAKE ACADEMY CONTINUES TO MAINTAIN ITS TRADITION OF EXCELLENCE IN A STRUCTURED LEARNING ENVIRONMENT. THE ADMINISTRATION AND FACULTY JOIN TOGETHER IN THEIR SUPPORT OF A SCHOOL THAT CLEARLY DEFINES HIGH EXPECTATIONS AND A SUCCESSFUL LEARNING EXPERIENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS ARE ELECTED ANNUALLY BY THE MEMBERS OF THE SCHOOLS PARENTS. EACH DIRECTOR IS ELECTED TO A THREE YEAR TERM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WAS REVIEWED BY THE BOARD OF DIRECTORS DURING A REGULARLY SCHEDULED MEETING. THE BOARD OF DIRECTORS VOTED TO APPROVE THE FORM 990 BY UNANIMOUS VOTE. PRIOR TO THIS BOARD MEETING, THE FORM 990 WAS REVIEWED BY THE PRESIDENT OF THE BOARD OF DIRECTORS, THE SCHOOL'S PRINCIPAL AND OTHERS RESPONSIBLE FOR THE PREPARATION AND REVIEW OF THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS DISCUSSES AND VOTES ON THE PRINCIPAL'S SALARY AS WELL AS WELL AS BONUSES FOR TEACHING STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATIONS GOVERNING DOCUMENTS ARE AVAILABLE ON ITS WEBSITE AND ARE AVAILABLE UPON REQUEST. THE FORM 1023 AND FORM 990 ARE AVAILABLE UPON REQUEST. INFORMATION REGARDING HOW TO REQUEST A COPY OF THE FORM 1023 AND FORM 990 IS AVAILABLE ON THE WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CAPITAL CONTRIBUTED 15,545 TRANSFERS FROM PTO 0 OTHER 0 TOTAL 15,545
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt02403434
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt02173518
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IRS990/TotalLiabilitiesBOYAmt0423583
IRS990/TotalLiabilitiesEOYAmt0233059
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IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt025563
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IRS990/TotalProgramServiceRevenueAmt02389324
IRS990/TotalReportableCompFromOrgAmt0157133
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02390178
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02421319
IRS990/TotalVolunteersCnt025
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02476256
IRS990/TravelGrp/ProgramServicesAmt02725
IRS990/TravelGrp/TotalAmt02725
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0261881
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt060748
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0MADDEN
IRS990/USAddress/StateAbbreviationCd0MS
IRS990/USAddress/ZIPCd039109
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IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0LEAKEACADEMY.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN PICKENS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEAD OF SCHOOL
ReturnHeader/BusinessOfficerGrp/PhoneNum06012674461
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEAKE ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0LEAK
ReturnHeader/Filer/EIN0640537630
ReturnHeader/Filer/PhoneNum06012674461
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 128
ReturnHeader/Filer/USAddress/CityNm0MADDEN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MS

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,476,256
Liabilities
$233,059
Net assets
$2,243,197
Revenue
$2,421,319
Expenses
$2,173,518
Net income
$247,801
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.19$0.18$3.01$2.61$2.76$0.15
2023Detailed filing. Detailed filing data is available for this year.$3.31$0.15$3.16$2.65$2.56$0.09
2022Detailed filing. Detailed filing data is available for this year.$3.24$0.17$3.07$2.67$2.55$0.12
2021Detailed filing. Detailed filing data is available for this year.$3.10$0.16$2.95$2.85$2.35$0.50
2020Detailed filing. Detailed filing data is available for this year.$2.86$0.50$2.36$2.34$2.23$0.11
2019Detailed filing. Detailed filing data is available for this year.$2.48$0.23$2.24$2.42$2.17$0.25
2018Detailed filing. Detailed filing data is available for this year.$2.40$0.42$1.98$2.39$2.16$0.23
2017Detailed filing. Detailed filing data is available for this year.$2.02$0.40$1.62$2.39$2.23$0.16
2016Detailed filing. Detailed filing data is available for this year.$1.91$0.45$1.46$2.21$2.09$0.12
2015Detailed filing. Detailed filing data is available for this year.$1.68$0.39$1.29$2.00$1.91$0.09