Civic Intelligence

Millennium Education Properties Inc.

990 • Fiscal year 2020 • EIN 81-4648969

Jul 01, 2019 to Jun 30, 2020 • Filed on May 02, 2021

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

93rd percentile

1.14x

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

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

18.95x

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

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Net Margin

7th percentile

-34%

Higher net margin than 7% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2020 filings • NTEE B • $10M-$25M nonprofits • Source year 2020

Asset Growth

14th percentile

-3.2%

Faster asset growth than 14% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

66th percentile

9.4%

Faster revenue growth than 66% of similar nonprofits.

2020 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$11,079,532

Down $364,589 (-3.2%) from 2019

Net Assets

Down

-$1,505,794

Down $227,533 (-18%) from 2019

Liabilities

Down

$12,585,326

Down $137,056 (-1.1%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin7th percentile

Revenue

Up

$664,280

Up $57,176 (+9.4%) from 2019

Expenses

Up

$891,813

Up $6,244 (+0.7%) from 2019

Net Income

Up

-$227,533

Up $50,932 (+18%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2020

Assets$11,079,532
Liabilities$12,585,326
Net Assets-$1,505,794
Open 2020 Filing

Operations Trend

Revenue Growth66th 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

2020

Revenue$664,280
Expenses$891,813
Net Income-$227,533
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 2, 2021
Return Version
2019v5.0
Gross Receipts
$664,280
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$11,403,430$11,031,235▼ $372,195
Savings and Temporary Cash Investments$40,691$48,297▲ $7,606
Total Assets$11,444,121$11,079,532▼ $364,589
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,701,202$12,564,374▼ $136,828
Accounts Payable and Accrued Expenses$21,180$20,952▼ $228
Total Liabilities$12,722,382$12,585,326▼ $137,056
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,278,261$-1,505,794▼ $227,533
Total Net Assets Fund Balance$-1,278,261$-1,505,794▼ $227,533
Total Liabilities and Net Assets / Fund Balance$11,444,121$11,079,532▼ $364,589

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,711,376$1,000,990$11,712,366
Land$301,064-$301,064
Equipment$18,795$8,119$26,914
Compensation and Service Providers
Top Officer Pay22nd 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
$560,000
Investment Income
$933
Other Revenue
$103,347
Change in Net Assets
$-227,533
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$891,813
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$514,065--$514,065
Depreciation Depletion$372,194--$372,194
Fees for Services Other$3,935$695-$4,630
Fees for Services Accounting-$600-$600
Other Expenses-$324-$324
Total Functional Expenses$890,194$1,619$0$891,813
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
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
Christopher Willingham
Title
Director
Phone
3367897570
Signed
2021-05-02

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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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.
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
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0MILLENNIUM EDUCATION FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0562155785
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt012B
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0500 OLD SPRINGS ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MOUNT AIRY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027030
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0560000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0DETERMINED BY BOARD
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MILLENNIUM EDUCATION FOUNDATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011444121
IRS990/TotalAssetsEOYAmt011079532
IRS990/TotalAssetsGrp/BOYAmt011444121
IRS990/TotalAssetsGrp/EOYAmt011079532
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01619
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0890194
IRS990/TotalFunctionalExpensesGrp/TotalAmt0891813
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012722382
IRS990/TotalLiabilitiesEOYAmt012585326
IRS990/TotalLiabilitiesGrp/BOYAmt012722382
IRS990/TotalLiabilitiesGrp/EOYAmt012585326
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1278261
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1505794
IRS990/TotalProgramServiceExpensesAmt0890194
IRS990/TotalProgramServiceRevenueAmt0560000
IRS990/TotalRevenueGrp/ExclusionAmt0933
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0663347
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0664280
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011444121
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011079532
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0548 PIPERS GAP ROAD
IRS990/USAddress/CityNm0MOUNT AIRY
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027030
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRISTOPHER WILLINGHAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03367897570
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MILLENNIUM EDUCATION PROPERTIESINC
ReturnHeader/Filer/BusinessNameControlTxt0MILL
ReturnHeader/Filer/EIN0814648969
ReturnHeader/Filer/PhoneNum03367897570
ReturnHeader/Filer/USAddress/AddressLine1Txt0500 OLD SPRINGS ROAD
ReturnHeader/Filer/USAddress/CityNm0MOUNT AIRY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027030
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/PreparationDt02021-05-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES A RIDOUTT
ReturnHeader/ReturnTs02021-05-04T09:15:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,079,532
Liabilities
$12,585,326
Net assets
-$1,505,794
Revenue
$664,280
Expenses
$891,813
Net income
-$227,533
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