Civic Intelligence

Davidson Charter Academy Inc.

990 • Fiscal year 2019 • EIN 81-3746270

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 08, 2020

Organization ProfileN/A
500 Biesecker RoadLexington, NC 27295

(336) 803-7809

Siviq Scores

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

Liabilities / Assets

86th percentile

0.96x

Higher debt load relative to assets than 86% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

2.68x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Net Margin

52nd percentile

3.1%

Higher net margin than 52% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

26th percentile

$30,589

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Asset Growth

99th percentile

2972%

Faster asset growth than 99% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

100th percentile

1284%

Faster revenue growth than 100% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$7,594,617

Up $7,347,428 (+2972%) from 2018

Net Assets

Up

$281,943

Up $84,754 (+43%) from 2018

Liabilities

Up

$7,312,674

Up $7,262,674 (+14525%) from 2018

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin52nd percentile

Revenue

Up

$2,729,184

Up $2,531,995 (+1284%) from 2018

Expenses

$2,644,430

No earlier filing loaded for comparison.

Net Income

$84,754

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$30M$20M$10M$0Assets 2018: $247,189Liabilities 2018: $50,000Net Assets 2018: $197,1892018Assets 2019: $7,594,617Liabilities 2019: $7,312,674Net Assets 2019: $281,9432019Assets 2020: $8,271,716Liabilities 2020: $7,844,945Net Assets 2020: $426,7712020Assets 2021: $10,405,605Liabilities 2021: $9,433,503Net Assets 2021: $972,1022021Assets 2022: $10,981,626Liabilities 2022: $9,398,036Net Assets 2022: $1,583,5902022Assets 2023: $18,947,261Liabilities 2023: $17,784,155Net Assets 2023: $1,163,1062023Assets 2024: $21,083,488Liabilities 2024: $20,975,216Net Assets 2024: $108,2722024

Highlighted filing

2019

Assets$7,594,617
Liabilities$7,312,674
Net Assets$281,943
Open 2019 Filing

Operations Trend

Revenue Growth100th percentile

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

$10M$5.0M$0-$5.0MRevenue 2018: $197,1892018Revenue 2019: $2,729,184Expenses 2019: $2,644,430Net Income 2019: $84,7542019Revenue 2020: $3,512,899Expenses 2020: $3,368,071Net Income 2020: $144,8282020Revenue 2021: $4,745,272Expenses 2021: $4,199,941Net Income 2021: $545,3312021Revenue 2022: $5,357,121Expenses 2022: $4,745,633Net Income 2022: $611,4882022Revenue 2023: $5,593,279Expenses 2023: $6,013,763Net Income 2023: -$420,4842023Revenue 2024: $6,299,889Expenses 2024: $7,354,723Net Income 2024: -$1,054,8342024

Highlighted filing

2019

Revenue$2,729,184
Expenses$2,644,430
Net Income$84,754
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 8, 2020
Return Version
2018v3.2
Gross Receipts
$2,740,293
Mission and Program Overview

Mission

To foster student learning and achievment and inspire students to become independent thinkers, effective communicators, and contributing citizens of a global society.

To foster student learning and achievement, and inspire students to become independent thinkers, effective communicators, and contributing citizens of a global society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$7,126,092-
Cash and Non-Interest-Bearing Accounts$247,189$266,301▲ $19,112
Savings and Temporary Cash Investments-$201,824-
Prepaid Expenses and Deferred Charges-$400-
Total Assets$247,189$7,594,617▲ $7,347,428
Liabilities
Mortgage Notes Payable Secured by Investment Property-$7,178,671-
Accounts Payable and Accrued Expenses-$84,003-
Unsecured Notes Loans Payable$50,000$50,000→ $0
Total Liabilities$50,000$7,312,674▲ $7,262,674
Net Assets / Fund Balance
Unrestricted Net Assets$197,189$281,943▲ $84,754
Total Net Assets Fund Balance$197,189$281,943▲ $84,754
Total Liabilities and Net Assets / Fund Balance$247,189$7,594,617▲ $7,347,428

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,126,092$209,592$7,335,684
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Carolyn DowningHeadmasterFT$30,589$30,589

Board Members and Trustees

NameTitle
Christine EnglandChair
Roland TroutVice Chair
Andrew LanceDirector
Crystal ScillitaniDirector
Justin WheelesDirector
Kristin BriggsSecretary
Greg TurlingtonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$231,386
Program Service Revenue
$2,467,006
Investment Income
$1,824
Other Revenue
$28,968
All Other Contributions
$165,610
Change in Net Assets
$84,754

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,740,293
Revenue Not Reported on Financial Statements
$-11,109
Revenue Not Reported on Form 990
$197,189
Other Revenue Adjustments
$-11,109
Total Revenue per Audited Statements
$2,937,482
Total Revenue per Form 990
$2,729,184
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,387,650
Other Expenses$1,256,780
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$930,249$129,358-$1,059,607
Interest$312,238$104,079-$416,317
Depreciation Depletion$157,194$52,398-$209,592
Information Technology$133,418$44,473-$177,891
Fees for Services Other$92,464$36,529-$128,993
Current Officers, Directors, Trustees, and Key Employees$93,099$23,275-$116,374
Payroll Taxes$86,444$12,917-$99,361
Occupancy$63,201$18,556-$81,757
Other Employee Benefits$53,894$8,053-$61,947
Pension Plan Contributions$43,814$6,547-$50,361
Office Expenses$14,439$15,853-$30,292
Insurance-$22,801-$22,801
All Other Expenses$14,206$7,184-$21,390
Conferences and Meetings$7,528$2,509-$10,037
Other Expenses$9,542$8,944-$8,944
Advertising-$7,926-$7,926
Fees for Services Accounting-$852-$852
Total Functional Expenses$2,141,116$503,314$0$2,644,430

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,655,539
Total Expenses per Audited Statements$2,655,539
Total Expenses per Form 990$2,644,430
Expenses Not Reported on Financial Statements$-11,109
Other Expense Adjustments$-11,109
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$33,472
Fundraising Direct Expenses$11,109
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising$39,416$33,472$11,109$22,363
Total Events$39,416$33,472$11,109$22,363
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
Audit committee
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

“Head of school & business manager review the 990. It is then shared with the finance committee for final approval.”

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

“Board members sign a conflict of interest statement annually. Board members agree to a "duty to disclose" any financial interest in a potential vendor or contract negotiation. Any potential conflicts of interest are reviewed and resolved by the board.”

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

“Top management official's comensation is approved by the board of directors and is based on the state salary schedule.”

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

“No officers are compensated. Key employee salaries are based on the state salary schedule.”

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Davidson Charter Academy
EIN
81-3746270
Phone
3368037809
Address
500 BIESECKER ROAD, LEXINGTON, NC 27295

Signing Officer

Name
Christine England
Title
Chair
Phone
3368037809
Signed
2020-06-08

Organization Details

Principal Officer
Christine England
Formed
2017
Voting Board Members
7
Independent Board Members
7
Employees
34
Volunteers
13

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

“Prior year revenue included in audit 197,189 prior year revenue included in audit -197,189”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Audit is from inception - prior year revenue 197,189”

Schedule D, Page 4, Part XI, Line 4B

“Fundraising expenses reported on statement of revenue -11,109”

Schedule D, Page 4, Part XII, Line 4B

“Fundraising expenses reported on statement of revenue -11,109”

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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/PYTotalRevenueAmt0197189
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt084754
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02467006
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0201824
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt07126092
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0209592
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07335684
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0-11109
IRS990ScheduleD/ExpensesSubtotalAmt02655539
IRS990ScheduleD/OtherExpensesNotIncludedAmt0-11109
IRS990ScheduleD/OtherRevenueAmt0197189
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-11109
IRS990ScheduleD/RevenueNotReportedAmt0197189
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-11109
IRS990ScheduleD/RevenueSubtotalAmt02740293
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0AUDIT IS FROM INCEPTION - PRIOR YEAR REVENUE 197,189
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES REPORTED ON STATEMENT OF REVENUE -11,109
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES REPORTED ON STATEMENT OF REVENUE -11,109
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07126092
IRS990ScheduleD/TotalExpensesPerForm990Amt02644430
IRS990ScheduleD/TotalRevenuePerForm990Amt02729184
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02937482
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02655539
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0DAVIDSON CHARTER ACADEMY 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/ExplanationTxt1NORTH CAROLINA CHARTER SCHOOL FUNDED BY STATE & LOCAL GOVERNMENT. ALSO RECEIVES VARIOUS FEDERAL AND STATE GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt05944
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt05944
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt011109
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FUNDRAISING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt039416
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt039416
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt033472
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt033472
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt022363
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt011109
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt011109
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HEAD OF SCHOOL & BUSINESS MANAGER REVIEW THE 990. IT IS THEN SHARED WITH THE FINANCE COMMITTEE FOR FINAL APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. BOARD MEMBERS AGREE TO A "DUTY TO DISCLOSE" ANY FINANCIAL INTEREST IN A POTENTIAL VENDOR OR CONTRACT NEGOTIATION. ANY POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED AND RESOLVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TOP MANAGEMENT OFFICIAL'S COMENSATION IS APPROVED BY THE BOARD OF DIRECTORS AND IS BASED ON THE STATE SALARY SCHEDULE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO OFFICERS ARE COMPENSATED. KEY EMPLOYEE SALARIES ARE BASED ON THE STATE SALARY SCHEDULE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, SCHOOL POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT THE ORGANIZATION'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PRIOR YEAR REVENUE INCLUDED IN AUDIT 197,189 PRIOR YEAR REVENUE INCLUDED IN AUDIT -197,189
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
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02141116
IRS990/TotalFunctionalExpensesGrp/TotalAmt02644430
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt050000
IRS990/TotalLiabilitiesEOYAmt07312674
IRS990/TotalLiabilitiesGrp/BOYAmt050000
IRS990/TotalLiabilitiesGrp/EOYAmt07312674
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0197189
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0281943
IRS990/TotalProgramServiceExpensesAmt02141116
IRS990/TotalProgramServiceRevenueAmt02467006
IRS990/TotalReportableCompFromOrgAmt030589
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02475435
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02729184
IRS990/TotalVolunteersCnt013
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07594617
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt050000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0500 BIESECKER ROAD
IRS990/USAddress/CityNm0LEXINTON
IRS990/USAddress/StateAbbreviationCd0NC
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IRS990/VotingMembersIndependentCnt07

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$7,594,617
Liabilities
$7,312,674
Net assets
$281,943
Revenue
$2,729,184
Expenses
$2,644,430
Net income
$84,754
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$21.1$21.0$0.11$6.30$7.35$1.05
2023Detailed filing. Detailed filing data is available for this year.$18.9$17.8$1.16$5.59$6.01$0.42
2022Detailed filing. Detailed filing data is available for this year.$11.0$9.40$1.58$5.36$4.75$0.61
2021Detailed filing. Detailed filing data is available for this year.$10.4$9.43$0.97$4.75$4.20$0.55
2020Detailed filing. Detailed filing data is available for this year.$8.27$7.84$0.43$3.51$3.37$0.14
2019Detailed filing. Detailed filing data is available for this year.$7.59$7.31$0.28$2.73$2.64$0.08
2018Detailed filing. Detailed filing data is available for this year.$0.25$0.05$0.20$0.20