Civic Intelligence

Partnership Achieving Community

990 • Fiscal year 2015 • EIN 76-0725007

Jul 01, 2014 to Jun 30, 2015 • Filed on Jun 28, 2016

Organization ProfileWWW.PACE-ACADEMY.COM
3529 Radon DriveDurham, NC 27713

(919) 933-7699

Siviq Scores

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

Liabilities / Assets

65th percentile

0.26x

Higher debt load relative to assets than 65% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

19th percentile

0.01x

Higher debt load relative to revenue than 19% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

11th percentile

-27%

Higher net margin than 11% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

47th percentile

$57,971

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets65th percentile

Assets

$26,304

No earlier filing loaded for comparison.

Net Assets

$19,577

No earlier filing loaded for comparison.

Liabilities

$6,727

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue19th percentileNet Margin11th percentile

Revenue

$1,007,335

No earlier filing loaded for comparison.

Expenses

$1,280,437

No earlier filing loaded for comparison.

Net Income

-$273,102

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$30K$20K$10K$0Assets 2015: $26,304Liabilities 2015: $6,727Net Assets 2015: $19,5772015

Highlighted filing

2015

Assets$26,304
Liabilities$6,727
Net Assets$19,577
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KRevenue 2015: $1,007,335Expenses 2015: $1,280,437Net Income 2015: -$273,1022015

Highlighted filing

2015

Revenue$1,007,335
Expenses$1,280,437
Net Income-$273,102
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jun 28, 2016
Return Version
2014v6.0
Gross Receipts
$1,131,291
Mission and Program Overview

Mission

Operation of a public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$162,281--
Cash and Non-Interest-Bearing Accounts$4,972$25,410▲ $20,438
Savings and Temporary Cash Investments$21,386--
Prepaid Expenses and Deferred Charges$25$689▲ $664
Accounts Receivable$134,043$205▼ $133,838
Total Assets$344,091$26,304▼ $317,787
Other Assets Total$21,384--
Liabilities
Accounts Payable and Accrued Expenses$30,028$6,727▼ $23,301
Total Liabilities$30,028$6,727▼ $23,301
Net Assets / Fund Balance
Temporarily Rstr Net Assets$21,384--
Unrestricted Net Assets$292,679$19,577▼ $273,102
Total Net Assets Fund Balance$314,063$19,577▼ $294,486
Total Liabilities and Net Assets / Fund Balance$344,091$26,304▼ $317,787
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Rhonda FranklinHeadmasterFT$57,971$57,971

Board Members and Trustees

NameTitle
Paul BedfordBoard Chair
Emilly FurgangDirector
James ProctorDirector
Jamie Bittner Non-votingDirector
Joshua BedfordDirector
Theo PikesDirector
Sharon SpencerSecretary
Jim HarrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$64,699
Program Service Revenue
$1,066,072
Investment Income
$-123,935
Other Revenue
$499
All Other Contributions
$6,028
Change in Net Assets
$-273,102
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$859,068
Other Expenses$421,369
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$492,844$62,271-$555,115
Occupancy$236,295$41,700-$277,995
Other Employee Benefits$93,702$14,001-$107,703
Pension Plan Contributions$77,488$11,579-$89,067
Current Officers, Directors, Trustees, and Key Employees$45,798$11,449-$57,247
Payroll Taxes$43,444$6,492-$49,936
Fees for Services Other$22,625$16,088-$38,713
Depreciation Depletion$32,578$5,749-$38,327
Insurance-$16,766-$16,766
Fees for Services Legal-$16,698-$16,698
Office Expenses-$10,644-$10,644
Information Technology$8,459--$8,459
Fees for Services Accounting-$8,292-$8,292
All Other Expenses-$327-$327
Other Expenses$295$310-$295
Travel-$46-$46
Total Functional Expenses$1,056,861$223,576$0$1,280,437
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
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
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, Page 6, Part VI, Line 11B

“Form 990 is reviewed by board treasurer prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Board does periodic review of interests that can give rise to conflicts.”

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

“Contract is approved by board. Based on state of north carolina guidelines.”

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

“No officers are compensated. All compensation is based on state of north carolina guidelines and approved by board of directors.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, school policies and financial statements are available for viewing by the public at the organization's office upon request.”

Filing and Contact Details

Filer

Filer Name
Partnership Achieving Community
EIN
76-0725007
Phone
9199337699
Address
3529 RADON DRIVE, DURHAM, NC 27713

Signing Officer

Name
Paul Bedford
Title
Board Chair
Phone
9199337699
Signed
2016-06-28

Organization Details

Principal Officer
Paul Bedford
Formed
2003
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
20

Preparer

Firm
Petway Mills & Pearson Pa
Address
PO BOX 1036, ZEBULON, NC 27597-1036
Preparer
James a Ridoutt
Phone
9192697405
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Forfiture of security deposit 21,384”

Raw XML AppendixShowing 400 of 456 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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PARTNERSHIP ACHIEVING COMMUNITY EDUCATION OPERATES AS A PUBLIC CHARTER SCHOOL AND IS FUNDED BY THE STATE OF NORTH CAROLINA AND LOCAL GOVERNMENT. NORTH CAROLINA REQUIRES A POLICY OF NONDISCRIMINATION AND THE SCHOOL'S NONDISCRIMINATION POLICY IS DISCLOSED IN ALL SOLICITATIONS FOR STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt16A) NORTH CAROLINA CHARTER SCHOOL, FUNDED BY STATE & LOCAL GOVERNMENT. ALSO RECEIVES VARIOUS FEDERAL AND STATE GRANTS.
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IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2FURNISHINGS & EQUIP
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3FORD E350 BUS
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4TEXTBOOKS
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc5SECURITY DEPOSIT
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02015-06-30
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12015-06-30
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt22015-06-30
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt32015-06-30
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt42015-06-30
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt52015-06-30
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0102470
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt12451
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt214460
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt315033
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt421384
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0LLC
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt1LLC
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IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt3LLC
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt4LLC
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt5LLC
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE
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IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt2BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt3BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt4BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt5BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0SHM PROPERTIES LLC
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm1SHM PROPERTIES LLC
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm2SHM PROPERTIES LLC
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm3SHM PROPERTIES LLC
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm4SHM PROPERTIES LLC
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm5SHM PROPERTIES LLC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt010534 ARNOLD PALMER DR
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt110534 ARNOLD PALMER DR
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt210534 ARNOLD PALMER DR
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt310534 ARNOLD PALMER DR
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt410534 ARNOLD PALMER DR
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt510534 ARNOLD PALMER DR
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0RALEIGH
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm1RALEIGH
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IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0NC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd1NC
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IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd3NC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd4NC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd5NC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd027617
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd127617
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd227617
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd327617
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IRS990ScheduleN/ReceiveCompensation2Ind0false
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION OPERATED A CHARTER SCHOOL FUNDED BY STATE AND LOCAL GOVERNMENT. THE STATE TERMINATED THE SCHOOL'S CHARTER. DUE TO THE TERMINATION OF THE SCHOOLS' CHARTER, AND THE LOSS OF GOVERNMENTAL FUNDING, THE SCHOOL WAS CLOSED. DUE TO LOSS OF FUNDING, ORGANIZATION WAS UNABLE TO SATISFIY ITS LEASE AGREEMENT WITH THE OWNER OF THE BUILDING OCCUPIED BY THE SCHOOL. ALL PHYSICAL ASSETS OF THE SCHOOL WERE TRANSFERRED TO SCHOOL BUILDING'S OWNER IN SATISFACTION OF ITS LEASE AGREEMENT.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE N
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY BOARD TREASURER PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD DOES PERIODIC REVIEW OF INTERESTS THAT CAN GIVE RISE TO CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONTRACT IS APPROVED BY BOARD. BASED ON STATE OF NORTH CAROLINA GUIDELINES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO OFFICERS ARE COMPENSATED. ALL COMPENSATION IS BASED ON STATE OF NORTH CAROLINA GUIDELINES AND APPROVED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, SCHOOL POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE FOR VIEWING BY THE PUBLIC AT THE ORGANIZATION'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FORFITURE OF SECURITY DEPOSIT 21,384
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt021384
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0344091
IRS990/TotalAssetsEOYAmt026304
IRS990/TotalAssetsGrp/BOYAmt0344091
IRS990/TotalAssetsGrp/EOYAmt026304
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt064699
IRS990/TotalEmployeeCnt020
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0223576
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01056861
IRS990/TotalFunctionalExpensesGrp/TotalAmt01280437
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt030028
IRS990/TotalLiabilitiesEOYAmt06727

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$26,304
Liabilities
$6,727
Net assets
$19,577
Revenue
$1,007,335
Expenses
$1,280,437
Net income
-$273,102
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.03$0.01$0.02$1.01$1.28$0.27