Civic Intelligence

Cherokee Charter Academy Inc.

990 • Fiscal year 2018 • EIN 82-0916738

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

2126 Sixes RoadCanton, GA 30114

(678) 385-7322

Siviq Scores

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

Liabilities / Assets

99th percentile

2.11x

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

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

78th percentile

0.76x

Higher debt load relative to revenue than 78% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

25th percentile

-4.5%

Higher net margin than 25% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

36th percentile

$92,495

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Assets

$2,634,981

No earlier filing loaded for comparison.

Net Assets

-$2,913,379

No earlier filing loaded for comparison.

Liabilities

$5,548,360

No earlier filing loaded for comparison.

Revenue

$7,347,862

No earlier filing loaded for comparison.

Expenses

$7,679,727

No earlier filing loaded for comparison.

Net Income

-$331,865

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2018: $2,634,981Liabilities 2018: $5,548,360Net Assets 2018: -$2,913,3792018Assets 2019: $3,069,138Liabilities 2019: $6,469,493Net Assets 2019: -$3,400,3552019Assets 2020: $4,336,030Liabilities 2020: $7,389,665Net Assets 2020: -$3,053,6352020Assets 2021: $4,296,899Liabilities 2021: $7,838,147Net Assets 2021: -$3,541,2482021Assets 2022: $20,662,951Liabilities 2022: $23,204,115Net Assets 2022: -$2,541,1642022Assets 2023: $21,809,468Liabilities 2023: $25,483,118Net Assets 2023: -$3,673,6502023

Highlighted filing

2018

Assets$2,634,981
Liabilities$5,548,360
Net Assets-$2,913,379

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2018: $7,347,862Expenses 2018: $7,679,727Net Income 2018: -$331,8652018Revenue 2019: $7,860,390Expenses 2019: $8,347,366Net Income 2019: -$486,9762019Revenue 2020: $8,224,259Expenses 2020: $7,877,539Net Income 2020: $346,7202020Revenue 2021: $7,688,129Expenses 2021: $8,189,179Net Income 2021: -$501,0502021Revenue 2022: $9,414,461Expenses 2022: $8,414,377Net Income 2022: $1,000,0842022Revenue 2023: $8,489,718Expenses 2023: $9,622,204Net Income 2023: -$1,132,4862023

Highlighted filing

2018

Revenue$7,347,862
Expenses$7,679,727
Net Income-$331,865
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.3
Gross Receipts
$7,347,862
Mission and Program Overview

Mission

Cherokee charter academy will develop in its students a passion and curiosity necessary to become lifelong learners and future leaders while instilling core community values, strong character ethics, and a commitment to excellence.

For educational purposes. Cherokee charter academy, inc is comprised of respected leaders in the state of georgia that are committed to providing high quality educational options for the students and families of georgia. The foundation strives to provide a premier academic school option for students and families in georgia.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$770,230-
Accounts Receivable-$649,292-
Land, Buildings, and Equipment, Net$0$175,795▲ $175,795
Prepaid Expenses and Deferred Charges-$20,806-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$-2,913,379▼ $2,913,379
Total Assets$0$2,634,981▲ $2,634,981
Other Assets Total$0$1,018,858▲ $1,018,858
Liabilities
Other Liabilities$0$5,530,161▲ $5,530,161
Accounts Payable and Accrued Expenses-$18,199-
Total Liabilities$0$5,548,360▲ $5,548,360
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$-2,913,379▼ $2,913,379
Total Liabilities and Net Assets / Fund Balance$0$2,634,981▲ $2,634,981

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$122,044$988,528$1,110,572
Leasehold Improvements$53,751$55,345$109,096
Other Assets Org$19,685--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
April WallisPrincipalFT$75,007$17,488$92,495

Board Members and Trustees

NameTitle
Danny F DukesChairman and Treasurer
Josh FuderDirector
Kim CochranDirector
Mary Jo DukesDirector
Susan ImrieDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Red Apple Development LLCRent800 CORPORATE DRIVE SUITE 100, Ft Lauderdale, FL 33334$1,318,539
Charter Schools USA INCManagement Services800 CORPORATE DRIVE SUITE 700, Ft Lauderdale, FL 33334$375,435
Revenue and Support

Revenue Composition

Contributions and Grants
$7,185,029
Program Service Revenue
$161,845
Investment Income
$346
Other Revenue
$642
Change in Net Assets
$-331,865

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,347,862
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$7,347,862
Total Revenue per Form 990
$7,347,862
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,645,495
Other Expenses$3,034,232
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,061,056$365,544-$3,426,600
Occupancy$1,491,655$180,225-$1,671,880
Pension Plan Contributions$394,159$38,967-$433,126
Other Employee Benefits$367,713$30,685-$398,398
Payroll Taxes$253,877$25,126-$279,003
Current Officers, Directors, Trustees, and Key Employees$92,113$16,255-$108,368
Depreciation Depletion$65,997$40,468-$106,465
All Other Expenses$52,440$47,786-$100,226
Office Expenses$40,671$48,098-$88,769
Information Technology-$80,152-$80,152
Insurance-$45,515-$45,515
Other Expenses$41,392$298-$41,690
Travel-$27,965-$27,965
Fees for Services Legal-$22,074-$22,074
Advertising-$17,962-$17,962
Fees for Services Accounting-$4,625-$4,625
Total Functional Expenses$6,623,999$1,055,728$0$7,679,727

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,679,727
Total Expenses per Audited Statements$7,679,727
Total Expenses per Form 990$7,679,727
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
Net Pension Liability$4,508,796
Deffered Inflows$656,129
Salaries and Benefits Payable$322,238
Compensated Abscenses$34,229
Due to Management Company$8,769
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
No
Other officer compensation reviewed
No
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, Part VI, Section A, Line 3

The school contracted with charter schools usa, a charter school management company, to be accountable to the board for the administration, operation, and performance of the charter school in accordance with the charter agreement. All payroll is reported by the management company.

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

A copy of form 990 was provided to the board of directors by the foundation's independent accounting firm. It was reviewed and approved by the governing board prior to government submission.

Form 990, Part VI, Section B, Line 12C

Board members are required to complete a conflict of interest questionnaire each year.

Form 990, Part VI, Section C, Line 18

Documents are made available upon request.

Form 990, Part VI, Section C, Line 19

The foundation makes its governing documents, conflicts of interest policy, and financial statements available upon request to the management company.

Filing and Contact Details

Filer

Filer Name
Cherokee Charter Academy Inc
EIN
82-0916738
Phone
6783857322
Address
2126 SIXES ROAD, CANTON, GA 30114

Signing Officer

Name
Danny F Dukes
Title
Board Chair
Phone
4049922265
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Danny F Dukes
Formed
2017
Legal Domicile
Ga
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Mauldin & Jenkins LLC
Address
200 GALLERIA PKWY SE STE 1700, ATLANTA, GA 30339-5946
Preparer
Mary Jo Alexander
Phone
7709558600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Cherokee charter academy school was previously governed by and filed under georgia charter education foundation, ein 27-0453195. Effective july 1, 2017, the filing organization took over operation of the school and assumed all of the school's assets and liabilities. -2,581,514.

Form 990, Part XII, Line 2C

The board of directors oversees the audit process. The organization underwent its first financial statement audit for this tax year.

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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-331865
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0161845
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0122044
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0988528
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01110572
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt07679727
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt053751
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt055345
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0109096
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0999173
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt119685
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEFFERED OUTFLOWS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0322238
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt14508796
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt234229
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt38769
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4656129
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SALARIES AND BENEFITS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2COMPENSATED ABSCENSES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DUE TO MANAGEMENT COMPANY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4DEFFERED INFLOWS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt07347862
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0175795
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01018858
IRS990ScheduleD/TotalExpensesPerForm990Amt07679727
IRS990ScheduleD/TotalLiabilityAmt05530161
IRS990ScheduleD/TotalRevenuePerForm990Amt07347862
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07347862
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07679727
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/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PUBLIC CHARTER SCHOOL ORGANIZED UNDER GEORGIA STATUTES. ALL NONDISCRIMINATORY INFORMATION IS AVAILABLE THROUGH VARIOUS PUBLIC ANNOUCEMENTS AND PUBLICATIONS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVES COMPENSATION FOR SERVICES IN THE FORM OF AWARDS, GRANTS AND OTHER SUBSIDIES FROM FEDERAL, STATE AND LOCAL GOVERNMENTS, WHICH ALSO INCLUDES FUNDING FOR STUDENT ENROLLMENT.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL CONTRACTED WITH CHARTER SCHOOLS USA, A CHARTER SCHOOL MANAGEMENT COMPANY, TO BE ACCOUNTABLE TO THE BOARD FOR THE ADMINISTRATION, OPERATION, AND PERFORMANCE OF THE CHARTER SCHOOL IN ACCORDANCE WITH THE CHARTER AGREEMENT. ALL PAYROLL IS REPORTED BY THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS BY THE FOUNDATION'S INDEPENDENT ACCOUNTING FIRM. IT WAS REVIEWED AND APPROVED BY THE GOVERNING BOARD PRIOR TO GOVERNMENT SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST TO THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CHEROKEE CHARTER ACADEMY SCHOOL WAS PREVIOUSLY GOVERNED BY AND FILED UNDER GEORGIA CHARTER EDUCATION FOUNDATION, EIN 27-0453195. EFFECTIVE JULY 1, 2017, THE FILING ORGANIZATION TOOK OVER OPERATION OF THE SCHOOL AND ASSUMED ALL OF THE SCHOOL'S ASSETS AND LIABILITIES. -2,581,514.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS OVERSEES THE AUDIT PROCESS. THE ORGANIZATION UNDERWENT ITS FIRST FINANCIAL STATEMENT AUDIT FOR THIS TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0GA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt02634981
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt02634981
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt07185029
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01055728
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06623999
IRS990/TotalFunctionalExpensesGrp/TotalAmt07679727
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt05548360
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt05548360
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2913379
IRS990/TotalOtherCompensationAmt017488
IRS990/TotalProgramServiceExpensesAmt06623999
IRS990/TotalProgramServiceRevenueAmt0161845
IRS990/TotalReportableCompFromOrgAmt075007
IRS990/TotalRevenueGrp/ExclusionAmt0988
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0161845
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07347862
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02634981
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt027965
IRS990/TravelGrp/TotalAmt027965
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02126 SIXES ROAD
IRS990/USAddress/CityNm0CANTON
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd030114
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HTTPS://WWW.CHEROKEECHARTER.ORG/
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DANNY F DUKES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum04049922265
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHEROKEE CHARTER ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0CHER
ReturnHeader/Filer/EIN0820916738
ReturnHeader/Filer/PhoneNum06783857322
ReturnHeader/Filer/USAddress/AddressLine1Txt02126 SIXES ROAD
ReturnHeader/Filer/USAddress/CityNm0CANTON

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