Civic Intelligence

Leake Academy Inc.

990 • Fiscal year 2022 • EIN 64-0537630

Jul 01, 2021 to Jun 30, 2022 • Filed on Dec 27, 2022

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

47th percentile

0.05x

Higher debt load relative to assets than 47% of similar nonprofits.

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

Liabilities / Revenue

45th percentile

0.06x

Higher debt load relative to revenue than 45% of similar nonprofits.

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

Net Margin

46th percentile

4.7%

Higher net margin than 46% of similar nonprofits.

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

Top Officer Pay

83rd percentile

$146,560

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

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

Asset Growth

57th percentile

4.3%

Faster asset growth than 57% of similar nonprofits.

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

Revenue Growth

31st percentile

-6.2%

Faster revenue growth than 31% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$3,238,115

Up $134,974 (+4.3%) from 2021

Net Assets

Up

$3,072,167

Up $124,731 (+4.2%) from 2021

Liabilities

Up

$165,948

Up $10,243 (+6.6%) from 2021

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin46th percentile

Revenue

Down

$2,673,062

Down $176,651 (-6.2%) from 2021

Expenses

Up

$2,548,331

Up $199,715 (+8.5%) from 2021

Net Income

Down

$124,731

Down $376,366 (-75%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth57th 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

2022

Assets$3,238,115
Liabilities$165,948
Net Assets$3,072,167
Open 2022 Filing

Operations Trend

Revenue Growth31st 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

2022

Revenue$2,673,062
Expenses$2,548,331
Net Income$124,731
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Dec 27, 2022
Return Version
2021v4.0
Gross Receipts
$2,673,062
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$1,831,742$2,151,243▲ $319,501
Rtn Earn Endowment Incm Other Fnds$1,655,219$1,779,950▲ $124,731
Pd in Cap Srpls Land Bldg Eqp Fund$1,292,217$1,292,217→ $0
Land, Buildings, and Equipment, Net$1,095,717$1,086,652▼ $9,065
Prepaid Expenses and Deferred Charges$39,018--
Accounts Receivable$40,512$220▼ $40,292
Total Assets$3,103,141$3,238,115▲ $134,974
Other Assets Total$96,152--
Liabilities
Other Liabilities$132,865$121,621▼ $11,244
Accounts Payable and Accrued Expenses$22,840$44,327▲ $21,487
Total Liabilities$155,705$165,948▲ $10,243
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,947,436$3,072,167▲ $124,731
Total Liabilities and Net Assets / Fund Balance$3,103,141$3,238,115▲ $134,974

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$896,791$560,009$1,456,800
Equipment$47,148$455,548$502,696
Land$142,713-$142,713
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brian PickensHead of SchoFT$146,560$146,560
Olivia SmithPrincipalFT$67,628$67,628

Board Members and Trustees

NameTitle
Kent ChambleePresident /
Brook BoboDirector
Dan YoungDirector
Jessica MyersDirector
Josh StokesDirector
Richard LeeDirector
Laurin MccombsSecretary /
Ryan MckayTreasurer/di
Melissa WarrenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$129,850
Program Service Revenue
$2,542,677
Investment Income
$535
Other Revenue
$0
All Other Contributions
$129,850
Change in Net Assets
$124,731
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,768,670
Other Expenses$779,661
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,379,037--$1,379,037
Current Officers, Directors, Trustees, and Key Employees$214,188--$214,188
All Other Expenses$193,044--$193,044
Payroll Taxes$124,656--$124,656
Depreciation Depletion$67,306--$67,306
Other Expenses$63,217--$63,217
Other Employee Benefits$50,789--$50,789
Insurance$17,977--$17,977
Office Expenses$15,055--$15,055
Travel$7,804--$7,804
Fees for Services Legal$6,790--$6,790
Total Functional Expenses$2,548,331$0$0$2,548,331
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$99,488
Payroll Liabilities$14,998
Prepaid Fees$6,685
Misc$450
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 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
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
2022-12-27
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
60
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 0 transfers from pto 0 other 0”

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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 0 TRANSFERS FROM PTO 0 OTHER 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,238,115
Liabilities
$165,948
Net assets
$3,072,167
Revenue
$2,673,062
Expenses
$2,548,331
Net income
$124,731
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