Civic Intelligence

Monroe Charter Academy

990 • Fiscal year 2021 • EIN 81-3838227

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 08, 2022

2850 Old Charlotte HwyMonroe, NC 28110

(980) 210-3627

Siviq Scores

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

Liabilities / Assets

97th percentile

1.81x

Higher debt load relative to assets than 97% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.14x

Higher debt load relative to revenue than 56% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Net Margin

53rd percentile

14%

Higher net margin than 53% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$66,381

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Asset Growth

74th percentile

31%

Faster asset growth than 74% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

83rd percentile

78%

Faster revenue growth than 83% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$93,579

Up $22,277 (+31%) from 2020

Net Assets

Up

-$76,179

Up $173,510 (+69%) from 2020

Liabilities

Down

$169,758

Down $151,233 (-47%) from 2020

Revenue

Up

$1,236,937

Up $540,612 (+78%) from 2020

Expenses

Up

$1,063,427

Up $117,413 (+12%) from 2020

Net Income

Up

$173,510

Up $423,199 (+169%) from 2020

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0-$200K-$400KAssets 2017: $1Liabilities 2017: $02017Assets 2018: $1Liabilities 2018: $02018Assets 2019: $1Liabilities 2019: $02019Assets 2020: $71,302Liabilities 2020: $320,991Net Assets 2020: -$249,6892020Assets 2021: $93,579Liabilities 2021: $169,758Net Assets 2021: -$76,1792021Assets 2022: $430,213Liabilities 2022: $461,661Net Assets 2022: -$31,4482022Assets 2023: $371,457Liabilities 2023: $351,635Net Assets 2023: $19,8222023Assets 2024: $337,143Liabilities 2024: $231,118Net Assets 2024: $106,0252024

Highlighted filing

2021

Assets$93,579
Liabilities$169,758
Net Assets-$76,179

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: $0Expenses 2018: $0Net Income 2018: $02018Revenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $696,325Expenses 2020: $946,014Net Income 2020: -$249,6892020Revenue 2021: $1,236,937Expenses 2021: $1,063,427Net Income 2021: $173,5102021Revenue 2022: $1,510,535Expenses 2022: $1,438,909Net Income 2022: $71,6262022Revenue 2023: $1,794,033Expenses 2023: $1,790,897Net Income 2023: $3,1362023Revenue 2024: $2,204,143Expenses 2024: $2,117,940Net Income 2024: $86,2032024

Highlighted filing

2021

Revenue$1,236,937
Expenses$1,063,427
Net Income$173,510
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 8, 2022
Return Version
2020v4.0
Gross Receipts
$1,236,937
Mission and Program Overview

Mission

To develop each child into an academically thriving citizen by parterning with parents and the community, utilitizing high expectations and a rigorous classical education delivered with purposeful and spirited devotion.

To develop each child into an academically thriving citizen by partnering with parents and the community, utilitizing high expectations and a rigorous classical education delivered with purposeful and spirited devotion.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$1,357$81,771▲ $80,414
Prepaid Expenses and Deferred Charges$12,375--
Cash and Non-Interest-Bearing Accounts$57,570$9,169▼ $48,401
Land, Buildings, and Equipment, Net-$2,639-
Total Assets$71,302$93,579▲ $22,277
Liabilities
Unsecured Notes Loans Payable$271,771$120,614▼ $151,157
Accounts Payable and Accrued Expenses$49,220$49,144▼ $76
Total Liabilities$320,991$169,758▼ $151,233
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-249,689$-76,179▲ $173,510
Total Net Assets Fund Balance$-249,689$-76,179▲ $173,510
Total Liabilities and Net Assets / Fund Balance$71,302$93,579▲ $22,277

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,639$406$3,045
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Camela FordHeadmasterFT$66,381$66,381

Board Members and Trustees

NameTitle
Jim StegallBoard Chair
Carmelina BrockmannVice Chair
Terae HillDirector
Willie OwensDirector
Kathleen PrevostSecretary
Marcia JeterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$264,468
Program Service Revenue
$887,409
Investment Income
$0
Other Revenue
$85,060
All Other Contributions
$74,263
Change in Net Assets
$173,510

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,236,937
Total Revenue per Audited Statements
$1,236,937
Total Revenue per Form 990
$1,236,937
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$549,798
Other Expenses$513,629
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$357,853$35,756-$393,609
Fees for Services Other$66,309$106,532-$172,841
Occupancy$93,802$25,690-$119,492
Information Technology$71,940$11,377-$83,317
Current Officers, Directors, Trustees, and Key Employees-$71,400-$71,400
Other Employee Benefits$32,312$9,674-$41,986
Payroll Taxes$28,689$8,589-$37,278
Advertising-$18,215-$18,215
Interest-$15,664-$15,664
Insurance-$11,664-$11,664
Office Expenses$761$10,781-$11,542
Fees for Services Accounting-$6,000-$6,000
Pension Plan Contributions$4,252$1,273-$5,525
All Other Expenses$3,419$1,447-$4,866
Other Expenses$12,910$3,057-$3,057
Conferences and Meetings$2,318$498-$2,816
Fees for Services Legal-$500-$500
Depreciation Depletion$304$102-$406
Total Functional Expenses$722,939$340,488$0$1,063,427

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,063,427
Total Expenses per Audited Statements$1,063,427
Total Expenses per Form 990$1,063,427
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
Audit committee
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Goodall consulting financial and management services

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

Head of school, consultant, and board review the 990 prior to filing.

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

Board members sign a conflict of interst statement annually. Board members agrees to disclose financial interst in a potential vendor or contract negotiation. Any potential conflicts of intersest are reviewed and resolved by the board.

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

Top management official's compensation is approved by the board in a formal review. Compesation is based on comparibility data and performance.

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
Monroe Charter Academy
EIN
81-3838227
Phone
9802103627
Address
2850 OLD CHARLOTTE HWY, MONROE, NC 28110

Signing Officer

Name
Jim Stegall
Title
Board Chair
Phone
7042361234
Signed
2022-01-08

Organization Details

Principal Officer
Jim Stegall
Formed
2016
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
16
Volunteers
6

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 - ORGANIZATION'S MISSION

To develop each child into an academically thriving citizen by partnering with parents and the community, utilitizing high expectations and a rigorous classical education delivered with purposeful and spirited devotion.

Form 990, Part IX, Line 11G

Contracted student services 10,760 0 0 contracted custodial 2,980 993 0 contracted repairs & maintena 2,884 962 0 contracted general & admin 0 101,077 0 contracted technology 10,500 3,500 0 contracted pupil transportati 39,185 0 0 total 66,309 106,532 0

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IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0887409
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/BookValueAmt02639
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0406
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03045
IRS990ScheduleD/ExpensesSubtotalAmt01063427
IRS990ScheduleD/RevenueSubtotalAmt01236937
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02639
IRS990ScheduleD/TotalExpensesPerForm990Amt01063427
IRS990ScheduleD/TotalRevenuePerForm990Amt01236937
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01236937
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01063427
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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/ExplanationTxt0MONROE 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 IS FUNDED BY STATE & LOCAL GOVERNMENT. ALSO RECEIVES VARIOUS FEDERAL AND STATE GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO DEVELOP EACH CHILD INTO AN ACADEMICALLY THRIVING CITIZEN BY PARTNERING WITH PARENTS AND THE COMMUNITY, UTILITIZING HIGH EXPECTATIONS AND A RIGOROUS CLASSICAL EDUCATION DELIVERED WITH PURPOSEFUL AND SPIRITED DEVOTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOODALL CONSULTING FINANCIAL AND MANAGEMENT SERVICES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HEAD OF SCHOOL, CONSULTANT, AND BOARD REVIEW THE 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS SIGN A CONFLICT OF INTERST STATEMENT ANNUALLY. BOARD MEMBERS AGREES TO DISCLOSE FINANCIAL INTERST IN A POTENTIAL VENDOR OR CONTRACT NEGOTIATION. ANY POTENTIAL CONFLICTS OF INTERSEST ARE REVIEWED AND RESOLVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TOP MANAGEMENT OFFICIAL'S COMPENSATION IS APPROVED BY THE BOARD IN A FORMAL REVIEW. COMPESATION IS BASED ON COMPARIBILITY DATA AND PERFORMANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO OFFICERS ARE COMPENSATED. KEY EMPLOYEE SALARIES ARE BASED ON THE STATE SALARY SCHEDULE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, SCHOOL POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC AT THE ORGANIZATION'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONTRACTED STUDENT SERVICES 10,760 0 0 CONTRACTED CUSTODIAL 2,980 993 0 CONTRACTED REPAIRS & MAINTENA 2,884 962 0 CONTRACTED GENERAL & ADMIN 0 101,077 0 CONTRACTED TECHNOLOGY 10,500 3,500 0 CONTRACTED PUPIL TRANSPORTATI 39,185 0 0 TOTAL 66,309 106,532 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt071302
IRS990/TotalAssetsEOYAmt093579
IRS990/TotalAssetsGrp/BOYAmt071302
IRS990/TotalAssetsGrp/EOYAmt093579
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0264468
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0340488
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0722939
IRS990/TotalFunctionalExpensesGrp/TotalAmt01063427
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0320991
IRS990/TotalLiabilitiesEOYAmt0169758
IRS990/TotalLiabilitiesGrp/BOYAmt0320991
IRS990/TotalLiabilitiesGrp/EOYAmt0169758
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-249689
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-76179
IRS990/TotalProgramServiceExpensesAmt0722939
IRS990/TotalProgramServiceRevenueAmt0887409
IRS990/TotalReportableCompFromOrgAmt066381
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0972469
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01236937
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt071302
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt093579
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0271771
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0120614
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0MONROECHARTERACADEMY.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JIM STEGALL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum07042361234
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-01-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MONROE CHARTER ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0MONR
ReturnHeader/Filer/EIN0813838227
ReturnHeader/Filer/PhoneNum09802103627
ReturnHeader/Filer/USAddress/AddressLine1Txt02850 OLD CHARLOTTE HWY
ReturnHeader/Filer/USAddress/CityNm0MONROE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028110
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202102404
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PETWAY MILLS & PEARSON PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1036
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ZEBULON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0275971036
ReturnHeader/PreparerPersonGrp/PhoneNum09192697405
ReturnHeader/PreparerPersonGrp/PreparationDt02022-01-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES A RIDOUTT
ReturnHeader/ReturnTs02022-04-28T07:14:53-05:00
ReturnHeader/ReturnTypeCd0990

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