Civic Intelligence

Monroe Charter Academy

990 • Fiscal year 2022 • EIN 81-3838227

Jul 01, 2021 to Jun 30, 2022 • Filed on May 04, 2023

Organization ProfileMONROECHARTERACADEMY.ORG
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

95th percentile

1.07x

Higher debt load relative to assets than 95% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.31x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Source year 2022

Net Margin

44th percentile

4.7%

Higher net margin than 44% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE B • $1M-$5M nonprofits • Source year 2022

Asset Growth

97th percentile

360%

Faster asset growth than 97% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

65th percentile

22%

Faster revenue growth than 65% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$430,213

Up $336,634 (+360%) from 2021

Net Assets

Up

-$31,448

Up $44,731 (+59%) from 2021

Liabilities

Up

$461,661

Up $291,903 (+172%) from 2021

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin44th percentile

Revenue

Up

$1,510,535

Up $273,598 (+22%) from 2021

Expenses

Up

$1,438,909

Up $375,482 (+35%) from 2021

Net Income

Down

$71,626

Down $101,884 (-59%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

2022

Assets$430,213
Liabilities$461,661
Net Assets-$31,448
Open 2022 Filing

Operations Trend

Revenue Growth65th percentile

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

2022

Revenue$1,510,535
Expenses$1,438,909
Net Income$71,626
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 4, 2023
Return Version
2021v4.0
Gross Receipts
$1,510,535
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 community, utilizing high expectations and a rigorous classical education delivered with purposeful and spirited devotion.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,639$187,410▲ $184,771
Cash and Non-Interest-Bearing Accounts$9,169$96,818▲ $87,649
Accounts Receivable$81,771--
Total Assets$93,579$430,213▲ $336,634
Other Assets Total-$145,985-
Liabilities
Unsecured Notes Loans Payable$120,614$251,715▲ $131,101
Other Liabilities-$148,322-
Accounts Payable and Accrued Expenses$49,144$61,624▲ $12,480
Total Liabilities$169,758$461,661▲ $291,903
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-76,179$-31,448▲ $44,731
Total Net Assets Fund Balance$-76,179$-31,448▲ $44,731
Total Liabilities and Net Assets / Fund Balance$93,579$430,213▲ $336,634

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$145,985--
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Jim StegallPresident
Eric HallBoard Member
Felicia RatliffBoard Member
Terae HillBoard Member
Willie OwensBoard Member
Marcia JeterTreasurer
Reverend Dr Robert James LightseyVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,437,040
Program Service Revenue
$3,597
Investment Income
$0
Other Revenue
$69,898
All Other Contributions
$59,916
Change in Net Assets
$71,626

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,510,535
Total Revenue per Audited Statements
$1,510,535
Total Revenue per Form 990
$1,510,535
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$797,137
Salaries, Compensation, and Employee Benefits$641,772
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$380,970$148,155-$529,125
Fees for Services Other$172,657$67,145-$239,802
Depreciation Depletion$64,592$25,120-$89,712
Information Technology$51,321$19,958-$71,279
Other Employee Benefits$50,494$19,637-$70,131
Occupancy$34,717$13,501-$48,218
Payroll Taxes$26,477$10,296-$36,773
Other Expenses$23,389$9,096-$32,485
All Other Expenses$10,729$4,173-$14,902
Office Expenses$8,893$3,458-$12,351
Interest$8,572$3,334-$11,906
Insurance$8,165$3,175-$11,340
Advertising$7,202$2,801-$10,003
Pension Plan Contributions$4,135$1,608-$5,743
Total Functional Expenses$1,036,013$402,896$0$1,438,909

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,438,909
Total Expenses per Audited Statements$1,438,909
Total Expenses per Form 990$1,438,909
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
More Than One Year$75,170
Lease Liability$72,770
Accrued Interest$382
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 interest statement annually. Board members agrees to disclose 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 compensation is approved by the board in a formal review. Compensation 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
President
Phone
9802103627
Signed
2023-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Stegall
Formed
2016
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
15
Volunteers
7

Preparer

Firm
Sharpe Patel CPA
Address
325 ARLINGTON AVE STE 630, CHARLOTTE, NC 28203
Preparer
Megan Rushford CPA
Phone
7044993893
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.”

Form 990, Part IX, Line 11G

“Contracted student services 80,585 31,339 0 contracted business services 92,072 35,806 0 total 172,657 67,145 0”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt172770
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IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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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.
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO 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.
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 INTEREST STATEMENT ANNUALLY. BOARD MEMBERS AGREES TO DISCLOSE FINANCIAL INTEREST IN A POTENTIAL VENDOR OR CONTRACT NEGOTIATION. ANY POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED AND RESOLVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TOP MANAGEMENT OFFICIAL'S COMPENSATION IS APPROVED BY THE BOARD IN A FORMAL REVIEW. COMPENSATION 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 80,585 31,339 0 CONTRACTED BUSINESS SERVICES 92,072 35,806 0 TOTAL 172,657 67,145 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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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/WebsiteAddressTxt0MONROECHARTERACADEMY.ORG
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JIM STEGALL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-04
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTE
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$430,213
Liabilities
$461,661
Net assets
-$31,448
Revenue
$1,510,535
Expenses
$1,438,909
Net income
$71,626
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.23$0.11$2.20$2.12$0.09
2023Detailed filing. Detailed filing data is available for this year.$0.37$0.35$0.02$1.79$1.79$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.43$0.46$0.03$1.51$1.44$0.07
2021Detailed filing. Detailed filing data is available for this year.$0.09$0.17$0.08$1.24$1.06$0.17
2020Detailed filing. Detailed filing data is available for this year.$0.07$0.32$0.25$0.70$0.95$0.25
2019Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
2018Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
2017Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00