Civic Intelligence

Polaris Tech Charter School

990 • Fiscal year 2021 • EIN 81-5150351

Jul 01, 2020 to Jun 30, 2021 • Filed on Mar 15, 2022

1508 Grays HwyRidgeland, SC 29936

(843) 645-0605

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.15x

Higher debt load relative to assets than 63% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

40th percentile

0.05x

Higher debt load relative to revenue than 40% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

44th percentile

9.4%

Higher net margin than 44% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

44th percentile

6.8%

Faster asset growth than 44% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

50th percentile

12%

Faster revenue growth than 50% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,256,252

Up $79,552 (+6.8%) from 2020

Net Assets

Up

$1,061,896

Up $390,210 (+58%) from 2020

Liabilities

Down

$194,356

Down $310,658 (-62%) from 2020

Revenue

Up

$4,148,309

Up $456,707 (+12%) from 2020

Expenses

Up

$3,758,099

Up $191,581 (+5.4%) from 2020

Net Income

Up

$390,210

Up $265,126 (+212%) from 2020

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017Assets 2018: $279,101Liabilities 2018: $142,367Net Assets 2018: $136,7342018Assets 2019: $827,416Liabilities 2019: $280,814Net Assets 2019: $546,6022019Assets 2020: $1,176,700Liabilities 2020: $505,014Net Assets 2020: $671,6862020Assets 2021: $1,256,252Liabilities 2021: $194,356Net Assets 2021: $1,061,8962021Assets 2022: $19,441,053Liabilities 2022: $19,236,223Net Assets 2022: $204,8302022Assets 2023: $18,691,937Liabilities 2023: $19,200,278Net Assets 2023: -$508,3412023Assets 2024: $20,060,315Liabilities 2024: $19,087,641Net Assets 2024: $972,6742024

Highlighted filing

2021

Assets$1,256,252
Liabilities$194,356
Net Assets$1,061,896

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: $456,155Expenses 2018: $322,387Net Income 2018: $133,7682018Revenue 2019: $3,397,906Expenses 2019: $3,123,038Net Income 2019: $274,8682019Revenue 2020: $3,691,602Expenses 2020: $3,566,518Net Income 2020: $125,0842020Revenue 2021: $4,148,309Expenses 2021: $3,758,099Net Income 2021: $390,2102021Revenue 2022: $4,002,755Expenses 2022: $4,859,820Net Income 2022: -$857,0652022Revenue 2023: $4,680,644Expenses 2023: $5,394,956Net Income 2023: -$714,3122023Revenue 2024: $9,017,261Expenses 2024: $7,536,245Net Income 2024: $1,481,0162024

Highlighted filing

2021

Revenue$4,148,309
Expenses$3,758,099
Net Income$390,210
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 15, 2022
Return Version
2020v4.2
Gross Receipts
$4,148,309
Mission and Program Overview

Mission

To unleash student potential and cultivate aspirations, where students are career-focused, college-ready and invest in the community it is polaris tech's intention to ensure that jasper county k-12 students acquire the 21st century knowledge, skills and experience to capitalize on jasper county's projected market and industry growth given its proximity to established technology, healthcare, aerospace, logistics and advanced manufacturing career and secondary educational opportunities

Polaris tech charter school offers middle and high school students the opportunity to engage in an entirely new approach to learning with a focus on personalized learning and technology-based careers for the future.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$671,686$1,061,896▲ $390,210
Cash and Non-Interest-Bearing Accounts$844,815$1,001,610▲ $156,795
Pledges and Grants Receivable$212,282$149,593▼ $62,689
Prepaid Expenses and Deferred Charges$81,342$75,863▼ $5,479
Land, Buildings, and Equipment, Net$38,261$27,885▼ $10,376
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$1,176,700$1,256,252▲ $79,552
Other Assets Total$0$1,301▲ $1,301
Liabilities
Accounts Payable and Accrued Expenses$115,332$158,730▲ $43,398
Deferred Revenue$21,137$25,115▲ $3,978
Mortgage Notes Payable Secured by Investment Property$366,289$7,980▼ $358,309
Other Liabilities$2,256$2,531▲ $275
Total Liabilities$505,014$194,356▼ $310,658
Net Assets / Fund Balance
Total Net Assets Fund Balance$671,686$1,061,896▲ $390,210
Total Liabilities and Net Assets / Fund Balance$1,176,700$1,256,252▲ $79,552

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$21,087$25,999$47,086
Leasehold Improvements$6,798$2,799$9,597
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$4,126,262
Program Service Revenue
$21,255
Investment Income
$792
Other Revenue
$0
All Other Contributions
$24,930
Change in Net Assets
$390,210

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,148,309
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,148,309
Total Revenue per Form 990
$4,148,309
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,283,948
Other Expenses$1,474,151
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,506,278$442,513-$1,948,791
Occupancy$691,432--$691,432
Information Technology$238,421$1,684-$240,105
Fees for Services Other$166,239--$166,239
Other Employee Benefits$115,379$43,581-$158,960
Payroll Taxes$107,939$32,742-$140,681
All Other Expenses$28,975$23,815-$52,790
Fees for Services Accounting-$42,760-$42,760
Pension Plan Contributions$27,401$8,115-$35,516
Office Expenses-$35,407-$35,407
Other Expenses$22,354$57,554-$22,354
Advertising-$21,425-$21,425
Depreciation Depletion$8,301$2,075-$10,376
Fees for Services Legal-$5,581-$5,581
Travel-$2,845-$2,845
Insurance$2,341--$2,341
Interest-$2,321-$2,321
Fees for Services Management-$480-$480
Total Functional Expenses$3,035,201$722,898$0$3,758,099

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,758,099
Total Expenses per Audited Statements$3,758,099
Total Expenses per Form 990$3,758,099
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Due to Sc Dept of Education$2,531
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The committee treasurer reviews the form 990 before before the form is filed

Form 990, Part VI, Section C, Line 19

The organization makes its documents available upon request

Filing and Contact Details

Filer

Filer Name
Polaris Tech Charter School
EIN
81-5150351
Phone
8436450605
Address
1508 GRAYS HWY, RIDGELAND, SC 29936

Signing Officer

Name
Bob Norwood
Title
Treasurer
Phone
8436450605
Signed
2022-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lloyd Newton
Formed
2017
Legal Domicile
Sc
Voting Board Members
10
Independent Board Members
10
Employees
51
Volunteers
10

Preparer

Firm
Martin Smith & Company Cpas Pa
Address
1212 HAYWOOD ROAD BLDG 100, GREENVILLE, SC 29615-2200
Preparer
David a Smith
Phone
8642321040
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The financial statements were prepared in accordance with governmental accounting standards, which does not require the adoption of fin 48.

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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt08115
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt027401
IRS990/PensionPlanContributionsGrp/TotalAmt035516
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0212282
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0149593
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt081342
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt075863
IRS990/PrincipalOfficerNm0LLOYD NEWTON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/Desc0OTHER REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1PUPIL ACTIVITY
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt019979
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11276
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt019979
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11276
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03674430
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0854
IRS990/PYOtherExpensesAmt01678883
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt016318
IRS990/PYRevenuesLessExpensesAmt0125084
IRS990/PYSalariesCompEmpBnftPaidAmt01887635
IRS990/PYTotalExpensesAmt03566518
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03691602
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0390210
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt021255
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt021087
IRS990ScheduleD/EquipmentGrp/DepreciationAmt025999
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt047086
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03758099
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt06798
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02799
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt09597
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02531
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO SC DEPT OF EDUCATION
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04148309
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH GOVERNMENTAL ACCOUNTING STANDARDS, WHICH DOES NOT REQUIRE THE ADOPTION OF FIN 48.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt027885
IRS990ScheduleD/TotalExpensesPerForm990Amt03758099
IRS990ScheduleD/TotalLiabilityAmt02531
IRS990ScheduleD/TotalRevenuePerForm990Amt04148309
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04148309
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03758099
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE RACIALLY NONDISCRIMINATORY POLICY IS POSTED ON THE SCHOOL'S WEBSITE, IN THE SCHOOL'S CHARTER, ON ALL STUDENT APPLICATIONS AND JOB POSTINGS, WHICH ARE ALL ACCESSIBLE TO THE PUBLIC
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1LINE 4B - THE ORGANIZATION IS A PUBLIC CHARTER SCHOOL. THEREFORE, IT DOES NOT OFFER SCHOLARSHIPS OR FINANCIAL AID.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL RECEIVES APPROXIMATELY $3,786,000 FROM STATE AND FEDERAL GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COMMITTEE TREASURER REVIEWS THE FORM 990 BEFORE BEFORE THE FORM IS FILED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS DOCUMENTS AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01176700
IRS990/TotalAssetsEOYAmt01256252
IRS990/TotalAssetsGrp/BOYAmt01176700
IRS990/TotalAssetsGrp/EOYAmt01256252
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt04126262
IRS990/TotalEmployeeCnt051
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0722898
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03035201
IRS990/TotalFunctionalExpensesGrp/TotalAmt03758099
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0505014
IRS990/TotalLiabilitiesEOYAmt0194356
IRS990/TotalLiabilitiesGrp/BOYAmt0505014
IRS990/TotalLiabilitiesGrp/EOYAmt0194356
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0671686
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01061896
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03035201
IRS990/TotalProgramServiceRevenueAmt021255
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0792
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt021255
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04148309
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01176700
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01256252
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt02845
IRS990/TravelGrp/TotalAmt02845
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00

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