Civic Intelligence

The Nest Academy Inc.

990 • Fiscal year 2017 • EIN 81-3637711

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 13, 2018

2223 Eastway DriveCharlotte, NC 28205

(980) 288-4163

Siviq Scores

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

Liabilities / Assets

48th percentile

0.11x

Higher debt load relative to assets than 48% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

46th percentile

0.07x

Higher debt load relative to revenue than 46% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Net Margin

95th percentile

58%

Higher net margin than 95% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

49th percentile

$68,600

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 6.4% of source-year revenue.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Asset Growth

99th percentile

1924%

Faster asset growth than 99% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

98th percentile

480%

Faster revenue growth than 98% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$723,584

Up $687,829 (+1924%) from 2016

Net Assets

Up

$647,421

Up $622,038 (+2451%) from 2016

Liabilities

Up

$76,163

Up $65,791 (+634%) from 2016

Revenue

Up

$1,071,041

Up $886,476 (+480%) from 2016

Expenses

Up

$449,003

Up $289,821 (+182%) from 2016

Net Income

Up

$622,038

Up $596,655 (+2351%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2016: $35,755Liabilities 2016: $10,372Net Assets 2016: $25,3832016Assets 2017: $723,584Liabilities 2017: $76,163Net Assets 2017: $647,4212017Assets 2018: $629,957Liabilities 2018: $55,785Net Assets 2018: $574,1722018Assets 2019: $615,623Liabilities 2019: $39,240Net Assets 2019: $576,3832019Assets 2021: $395,559Liabilities 2021: $5,200Net Assets 2021: $390,3592021Assets 2022: $797,532Liabilities 2022: $5,200Net Assets 2022: $792,3322022Assets 2023: $786,787Liabilities 2023: $5,489Net Assets 2023: $781,2982023Assets 2024: $1,099,781Liabilities 2024: $5,200Net Assets 2024: $1,094,5812024

Highlighted filing

2017

Assets$723,584
Liabilities$76,163
Net Assets$647,421

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2016: $184,565Expenses 2016: $159,182Net Income 2016: $25,3832016Revenue 2017: $1,071,041Expenses 2017: $449,003Net Income 2017: $622,0382017Revenue 2018: $374,775Expenses 2018: $448,024Net Income 2018: -$73,2492018Revenue 2019: $427,369Expenses 2019: $425,158Net Income 2019: $2,2112019Revenue 2021: $599,609Expenses 2021: $626,404Net Income 2021: -$26,7952021Revenue 2022: $996,649Expenses 2022: $594,676Net Income 2022: $401,9732022Revenue 2023: $787,984Expenses 2023: $799,018Net Income 2023: -$11,0342023Revenue 2024: $1,162,655Expenses 2024: $849,372Net Income 2024: $313,2832024

Highlighted filing

2017

Revenue$1,071,041
Expenses$449,003
Net Income$622,038
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 13, 2018
Return Version
2017v2.2
Gross Receipts
$1,071,041
Mission and Program Overview

Mission

The Nest Academy is a small, trauma-informed, private school in Charlotte, North Carolina with a mission to change the lives of refugee and underprivileged students to become confident, educated, and successful first generation high school graduates. The Nest Academy offers students an individualized education plan in a small, safe and supportive environment through highly trained teachers, volunteers and mentors. The students flourish in this peaceful environment where they are accepted, known and supported, which extends outside of the classroom.

To provide an academic environment for under-privileged children with a tailored approach to each student's needs. Growth in Christ is fostered throughout the school day. The result is to develop a generation of young leaders prepared academically, socially and spiritually.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$719,812-
Cash and Non-Interest-Bearing Accounts$35,755$3,772▼ $31,983
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$35,755$723,584▲ $687,829
Other Assets Total-$0-
Liabilities
Other Liabilities-$73,721-
Accounts Payable and Accrued Expenses$10,372$2,442▼ $7,930
Total Liabilities$10,372$76,163▲ $65,791
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$355,040-
Unrestricted Net Assets$25,383$292,381▲ $266,998
Total Net Assets Fund Balance$25,383$647,421▲ $622,038
Total Liabilities and Net Assets / Fund Balance$35,755$723,584▲ $687,829

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$611,325$26,530$637,855
Land$72,545-$72,545
Equipment$35,942$7,058$43,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Mary Catherine GarrettPresidentFT$68,600$68,600
Kirsten QuickBoard SecretaryFT$22,000$22,000

Board Members and Trustees

NameTitle
Pete MurphyBoard Chair
Betsy SchultzBoard Member
Bob KocourekBoard Member
Dain DulaneyBoard Member
Gina ElamBoard Member
Lori AndersenBoard Member
Morten AndersenBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$1,071,041
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,071,041
Change in Net Assets
$622,038

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Real Estate Residential2$650,520
Cars and Other Vehicles2$40,000
Food Inventory1$13,440
Other Non Cash Contri Table1$3,000
Total Noncash Contributions6$706,960

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,071,041
Revenue Not Reported on Form 990
$77,172
Total Revenue per Audited Statements
$1,148,213
Total Revenue per Form 990
$1,071,041
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$220,117
Other Expenses$210,845
Grants and Similar Amounts Paid$18,041
Total Fundraising Expense$7,868
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$70,847$24,395$7,868$103,110
Current Officers, Directors, Trustees, and Key Employees-$90,417-$90,417
Depreciation Depletion-$33,588-$33,588
All Other Expenses$8,376$21,322-$29,698
Occupancy$13,324$13,323-$26,647
Fees for Services Legal-$20,402-$20,402
Grants to Domestic Individuals$18,041--$18,041
Payroll Taxes$6,693$10,184-$16,877
Other Expenses$11,384--$11,384
Other Employee Benefits-$9,713-$9,713
Travel-$5,268-$5,268
Fees for Services Accounting-$589-$589
Total Functional Expenses$211,934$229,201$7,868$449,003

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$526,175
Expenses per Audited Statements$449,003
Total Expenses per Form 990$449,003
Expenses Not Reported on Form 990$77,172
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refund liability$54,880
Other liabilities$8,500
Accrued payroll and taxes$6,800
Accrued utilities$3,541
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
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, Part VI, Line 11B: Form 990 Review Process

The 990 was distributed to all Board members for review and comment prior to filing. All appropriate comments or changes received were incorporated into this filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

All parties are required to report any potential conflicts. The organization will require annual reporting to either confirm that no conflict exists or to report any potential conflicts.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The organization will review the President's compensation in light of comparability data for similar organizations.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Available upon request.

Filing and Contact Details

Filer

Filer Name
One 7 Academy Inc
EIN
81-3637711
Phone
9802884163
Address
2223 Eastway Drive, Charlotte, NC 28205

Signing Officer

Name
Mary Catherine Garrett
Title
President
Signed
2018-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Catherine Garrett
Formed
2016
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
8
Employees
11

Preparer

Firm
C DeWitt Foard & Co PA CPAs
Address
817 E Morehead Street Ste 100, Charlotte, NC 28202-2767
Preparer
Terry W Lancaster
Phone
7043721515
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IRS990/OtherExpensesGrp/ProgramServicesAmt217352
IRS990/OtherExpensesGrp/ProgramServicesAmt311384
IRS990/OtherExpensesGrp/TotalAmt046123
IRS990/OtherExpensesGrp/TotalAmt119794
IRS990/OtherExpensesGrp/TotalAmt217352
IRS990/OtherExpensesGrp/TotalAmt311384
IRS990/OtherLiabilitiesGrp/EOYAmt073721
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt07868
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt024395
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt070847
IRS990/OtherSalariesAndWagesGrp/TotalAmt0103110
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt010184
IRS990/PayrollTaxesGrp/ProgramServicesAmt06693
IRS990/PayrollTaxesGrp/TotalAmt016877
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Mary Catherine Garrett
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0184565
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt05755
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt066796
IRS990/PYRevenuesLessExpensesAmt025383
IRS990/PYSalariesCompEmpBnftPaidAmt086631
IRS990/PYTotalExpensesAmt0159182
IRS990/PYTotalRevenueAmt0184565
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0622038
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0611325
IRS990ScheduleD/BuildingsGrp/DepreciationAmt026530
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0637855
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt077172
IRS990ScheduleD/DonatedServicesUseFcltsAmt077172
IRS990ScheduleD/EquipmentGrp/BookValueAmt035942
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07058
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt043000
IRS990ScheduleD/ExpensesNotReportedAmt077172
IRS990ScheduleD/ExpensesSubtotalAmt0449003
IRS990ScheduleD/LandGrp/BookValueAmt072545
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt072545
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06800
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13541
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt28500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt354880
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued payroll and taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Accrued utilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Other liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Refund liability
IRS990ScheduleD/RevenueNotReportedAmt077172
IRS990ScheduleD/RevenueSubtotalAmt01071041
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0719812
IRS990ScheduleD/TotalExpensesPerForm990Amt0449003
IRS990ScheduleD/TotalLiabilityAmt073721
IRS990ScheduleD/TotalRevenuePerForm990Amt01071041
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01148213
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0526175
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 policy was printed in the August 6, 2017 Charlotte Observer.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt018041
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Tuition assistance for college educ
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt014
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Grant funds for college education are provided by One 7 Academy directly to the college/educational institution. Student's performance/grades are monitored by One 7 Academy, Inc.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Additional Supplemental Information
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/AssistancePurposeTxt0Tuition for children
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/CashGrantAmt015900
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/PersonNm0Mary Catherine Garrett
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/RelationshipWithOrgTxt0President
IRS990ScheduleL/GrntAsstBnftInterestedPrsnGrp/TypeOfAssistanceTxt0Tuition support
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/CarsAndOtherVehiclesGrp/ContributionCnt02
IRS990ScheduleM/CarsAndOtherVehiclesGrp/NonCashCheckboxInd0X
IRS990ScheduleM/CarsAndOtherVehiclesGrp/NoncashContributionsRptF990Amt040000
IRS990ScheduleM/FoodInventoryGrp/ContributionCnt01
IRS990ScheduleM/FoodInventoryGrp/NonCashCheckboxInd0X
IRS990ScheduleM/FoodInventoryGrp/NoncashContributionsRptF990Amt013440
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0Container
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt03000
IRS990ScheduleM/RealEstateResidentialGrp/ContributionCnt02
IRS990ScheduleM/RealEstateResidentialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateResidentialGrp/NoncashContributionsRptF990Amt0650520
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 was distributed to all Board members for review and comment prior to filing. All appropriate comments or changes received were incorporated into this filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All parties are required to report any potential conflicts. The organization will require annual reporting to either confirm that no conflict exists or to report any potential conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization will review the President's compensation in light of comparability data for similar organizations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0355040
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false

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