Civic Intelligence

Millennium Education Properties Inc.

990 • Fiscal year 2019 • EIN 81-4648969

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 22, 2020

Organization ProfileN/A
500 Old Springs RoadMount Airy, NC 27030

(336) 789-7570

Siviq Scores

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

Liabilities / Assets

92nd percentile

1.11x

Higher debt load relative to assets than 92% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

20.96x

Higher debt load relative to revenue than 99% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Net Margin

6th percentile

-46%

Higher net margin than 6% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Asset Growth

22nd percentile

-3.2%

Faster asset growth than 22% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

72nd percentile

15%

Faster revenue growth than 72% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$11,444,121

Down $375,630 (-3.2%) from 2018

Net Assets

Down

-$1,278,261

Down $278,465 (-28%) from 2018

Liabilities

Down

$12,722,382

Down $97,165 (-0.8%) from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin6th percentile

Revenue

Up

$607,104

Up $78,839 (+15%) from 2018

Expenses

Up

$885,569

Up $238,181 (+37%) from 2018

Net Income

Down

-$278,465

Down $159,342 (-134%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2017: $7,486,064Liabilities 2017: $8,366,737Net Assets 2017: -$880,6732017Assets 2018: $11,819,751Liabilities 2018: $12,819,547Net Assets 2018: -$999,7962018Assets 2019: $11,444,121Liabilities 2019: $12,722,382Net Assets 2019: -$1,278,2612019Assets 2020: $11,079,532Liabilities 2020: $12,585,326Net Assets 2020: -$1,505,7942020Assets 2021: $10,953,002Liabilities 2021: $12,441,915Net Assets 2021: -$1,488,9132021Assets 2022: $10,465,062Liabilities 2022: $12,291,275Net Assets 2022: -$1,826,2132022Assets 2023: $10,013,639Liabilities 2023: $12,126,770Net Assets 2023: -$2,113,1312023Assets 2024: $9,650,155Liabilities 2024: $11,973,687Net Assets 2024: -$2,323,5322024

Highlighted filing

2019

Assets$11,444,121
Liabilities$12,722,382
Net Assets-$1,278,261
Open 2019 Filing

Operations Trend

Revenue Growth72nd percentile

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

$1.0M$500K$0-$500KRevenue 2017: $165,040Expenses 2017: $601,823Net Income 2017: -$436,7832017Revenue 2018: $528,265Expenses 2018: $647,388Net Income 2018: -$119,1232018Revenue 2019: $607,104Expenses 2019: $885,569Net Income 2019: -$278,4652019Revenue 2020: $664,280Expenses 2020: $891,813Net Income 2020: -$227,5332020Revenue 2021: $900,108Expenses 2021: $882,774Net Income 2021: $17,3342021Revenue 2022: $660,174Expenses 2022: $882,323Net Income 2022: -$222,1492022Revenue 2023: $662,029Expenses 2023: $894,929Net Income 2023: -$232,9002023Revenue 2024: $660,000Expenses 2024: $870,401Net Income 2024: -$210,4012024

Highlighted filing

2019

Revenue$607,104
Expenses$885,569
Net Income-$278,465
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 22, 2020
Return Version
2018v3.2
Gross Receipts
$607,104
Mission and Program Overview

Mission

Organization's mission is to provide facilities for and to support the millennium education charter school.

Organizations mission is to provide facilities for and to support the millennium education charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,775,623$11,403,430▼ $372,193
Cash and Non-Interest-Bearing Accounts$44,128--
Savings and Temporary Cash Investments-$40,691-
Total Assets$11,819,751$11,444,121▼ $375,630
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,166,459$12,701,202▲ $534,743
Accounts Payable and Accrued Expenses$653,088$21,180▼ $631,908
Total Liabilities$12,819,547$12,722,382▼ $97,165
Net Assets / Fund Balance
Unrestricted Net Assets$-999,796$-1,278,261▼ $278,465
Total Net Assets Fund Balance$-999,796$-1,278,261▼ $278,465
Total Liabilities and Net Assets / Fund Balance$11,819,751$11,444,121▼ $375,630

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,080,643$631,723$11,712,366
Land$301,064-$301,064
Equipment$21,723$5,191$26,914
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Renee FrancisPresident
Beth SouthernDirector
Christopher WillinghamDirector
Lee RiersonDirector
Mark HamptonDirector
Susan CampbellDirector
Marty DanleySecretary
Susie ShiplyTreasurer
David HiattVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$520,000
Investment Income
$445
Other Revenue
$86,659
Change in Net Assets
$-278,465
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$885,569
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$502,008--$502,008
Depreciation Depletion$372,194--$372,194
Fees for Services Other$6,472$1,142-$7,614
Fees for Services Accounting-$2,900-$2,900
Other Expenses-$253-$253
Total Functional Expenses$880,674$4,895$0$885,569
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“990 is reviewed by the treasurer & director of finance and is provided to all board members prior to filing.”

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

“Potential conflicts of interest are reviewed and resolved by the board of directors. Board members with potential conflicts of interest do not vote on any related matter.”

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

“No compensation is paid to the top management official.”

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

“No compensation is paid to officers and the organization has no employees.”

Form 990, Page 6, Part VI, Line 19

“The organizations governing documents, conflict of interest policy, and financial statements are available at the organization's office upon request.”

Filing and Contact Details

Filer

Filer Name
Millennium Education Propertiesinc
EIN
81-4648969
Phone
3367897570
Address
500 OLD SPRINGS ROAD, MOUNT AIRY, NC 27030

Signing Officer

Name
Susie Shiply
Title
Treasurer
Phone
3367897570
Signed
2020-01-22

Organization Details

Principal Officer
Renee Francis
Formed
2016
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Petway Mills & Pearson Pa
Address
PO BOX 1036, ZEBULON, NC 27597-1036
Preparer
James a Ridoutt
Phone
9192697405
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0990 IS REVIEWED BY THE TREASURER & DIRECTOR OF FINANCE AND IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED AND RESOLVED BY THE BOARD OF DIRECTORS. BOARD MEMBERS WITH POTENTIAL CONFLICTS OF INTEREST DO NOT VOTE ON ANY RELATED MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO COMPENSATION IS PAID TO THE TOP MANAGEMENT OFFICIAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO COMPENSATION IS PAID TO OFFICERS AND THE ORGANIZATION HAS NO EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATIONS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE ORGANIZATION'S OFFICE UPON REQUEST.
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ReturnHeader/FilingSecurityInformation/IPTm009:06:03
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ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$11,444,121
Liabilities
$12,722,382
Net assets
-$1,278,261
Revenue
$607,104
Expenses
$885,569
Net income
-$278,465
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.65$12.0$2.32$0.66$0.87$0.21
2023Detailed filing. Detailed filing data is available for this year.$10.0$12.1$2.11$0.66$0.89$0.23
2022Detailed filing. Detailed filing data is available for this year.$10.5$12.3$1.83$0.66$0.88$0.22
2021Detailed filing. Detailed filing data is available for this year.$11.0$12.4$1.49$0.90$0.88$0.02
2020Detailed filing. Detailed filing data is available for this year.$11.1$12.6$1.51$0.66$0.89$0.23
2019Detailed filing. Detailed filing data is available for this year.$11.4$12.7$1.28$0.61$0.89$0.28
2018Summary only. Only limited summary data is available for this year.$11.8$12.8$1.00$0.53$0.65$0.12
2017Summary only. Only limited summary data is available for this year.$7.49$8.37$0.88$0.17$0.60$0.44