Civic Intelligence

Revolution Academy

990 • Fiscal year 2023 • EIN 82-2556583

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 22, 2024

3800 Oak Ridge RoadSummerfield, NC 27358

(336) 203-3690

Siviq Scores

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

Liabilities / Assets

83rd percentile

1.03x

Higher debt load relative to assets than 83% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

79th percentile

2.37x

Higher debt load relative to revenue than 79% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Net Margin

91st percentile

15%

Higher net margin than 91% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

27th percentile

$82,446

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2023

Asset Growth

46th percentile

7.3%

Faster asset growth than 46% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

92nd percentile

32%

Faster revenue growth than 92% of similar nonprofits.

2023 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Up

$18,344,959

Up $1,246,003 (+7.3%) from 2022

Net Assets

Down

-$577,467

Down $432,459 (-298%) from 2022

Liabilities

Up

$18,922,426

Up $1,678,462 (+9.7%) from 2022

Revenue

Up

$7,968,741

Up $1,933,927 (+32%) from 2022

Expenses

Up

$6,790,241

Up $882,726 (+15%) from 2022

Net Income

Up

$1,178,500

Up $1,051,201 (+826%) from 2022

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2021: $19,185,817Liabilities 2021: $19,458,124Net Assets 2021: -$272,3072021Assets 2022: $17,098,956Liabilities 2022: $17,243,964Net Assets 2022: -$145,0082022Assets 2023: $18,344,959Liabilities 2023: $18,922,426Net Assets 2023: -$577,4672023Assets 2024: $21,483,035Liabilities 2024: $23,173,593Net Assets 2024: -$1,690,5582024

Highlighted filing

2023

Assets$18,344,959
Liabilities$18,922,426
Net Assets-$577,467

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2021: $3,642,980Expenses 2021: $3,514,032Net Income 2021: $128,9482021Revenue 2022: $6,034,814Expenses 2022: $5,907,515Net Income 2022: $127,2992022Revenue 2023: $7,968,741Expenses 2023: $6,790,241Net Income 2023: $1,178,5002023Revenue 2024: $8,223,529Expenses 2024: $9,336,621Net Income 2024: -$1,113,0922024

Highlighted filing

2023

Revenue$7,968,741
Expenses$6,790,241
Net Income$1,178,500
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 22, 2024
Return Version
2022v5.0
Gross Receipts
$7,968,741
Mission and Program Overview

Mission

The operation of a public charter school for the education of children in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$15,877,512$15,686,268▼ $191,244
Cash and Non-Interest-Bearing Accounts$472,535$2,263,785▲ $1,791,250
Accounts Receivable$311,032$247,310▼ $63,722
Savings and Temporary Cash Investments$409,362$115,267▼ $294,095
Prepaid Expenses and Deferred Charges$28,515$32,329▲ $3,814
Total Assets$17,098,956$18,344,959▲ $1,246,003
Liabilities
Mortgage Notes Payable Secured by Investment Property$17,061,820$18,789,092▲ $1,727,272
Accounts Payable and Accrued Expenses$182,144$133,334▼ $48,810
Total Liabilities$17,243,964$18,922,426▲ $1,678,462
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-145,008$-577,467▼ $432,459
Total Net Assets Fund Balance$-145,008$-577,467▼ $432,459
Total Liabilities and Net Assets / Fund Balance$17,098,956$18,344,959▲ $1,246,003

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,851,050$896,119$14,747,169
Land$1,554,975-$1,554,975
Equipment$280,243$46,309$326,552
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michele HarrisAsst PrincipalFT$82,446$82,446
Mary SauerPrincipalFT$47,425$47,425

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$7,542,248
Program Service Revenue
$208,832
Investment Income
$18,306
Other Revenue
$199,355
All Other Contributions
$37,968
Change in Net Assets
$1,178,500

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,968,741
Total Revenue per Audited Statements
$7,968,741
Total Revenue per Form 990
$7,968,741
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,564,806
Salaries, Compensation, and Employee Benefits$3,225,435
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,537,543$34,608$0$2,572,151
Interest$0$1,569,113$0$1,569,113
Depreciation Depletion$369,537$25,411$0$394,948
Other Employee Benefits$254,139$6,782$0$260,921
Payroll Taxes$214,635$2,860$0$217,495
Current Officers, Directors, Trustees, and Key Employees$129,871$0$0$129,871
All Other Expenses$2,717$124,232$0$126,949
Office Expenses$50,179$26,847$0$77,026
Occupancy$0$67,021$0$67,021
Other Expenses$63,755$0$0$63,755
Pension Plan Contributions$44,997$0$0$44,997
Insurance$0$28,234$0$28,234
Conferences and Meetings$19,047$0$0$19,047
Advertising$0$2,780$0$2,780
Travel$555$0$0$555
Total Functional Expenses$4,237,277$2,552,964$0$6,790,241

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,790,241
Total Expenses per Audited Statements$6,790,241
Total Expenses per Form 990$6,790,241
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
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Revolution Academy
EIN
82-2556583
Phone
3362033690
Address
3800 Oak Ridge Road, Summerfield, NC 27358

Signing Officer

Name
John Nosek
Title
Chairman
Phone
3362033690
Signed
2024-04-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Nosek
Formed
2019
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
92
Volunteers
100

Preparer

Firm
Darrell L Keller CPA PA
Address
PO Box 1028, Kings Mountain, NC 28086
Preparer
Darrell L Keller
Phone
7047390771
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

Form 990 is given to the board for review prior to filing

Pt VI, Line 12C

Conflict of Interest signed by Board members annually

Pt VI, Line 15A

Compared to other charter schools

Pt VI, Line 2

Board Member owns the restaurant that provides lunches to the school.

Pt VI, Line 3

Acadia Northstar contracted to manage HR, Facilities and other operational functions

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IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0208832
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt05750524
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt03329625
IRS990/PYOtherRevenueAmt0118121
IRS990/PYProgramServiceRevenueAmt0166169
IRS990/PYRevenuesLessExpensesAmt0127299
IRS990/PYSalariesCompEmpBnftPaidAmt02577890
IRS990/PYTotalExpensesAmt05907515
IRS990/PYTotalRevenueAmt06034814
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01178500
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt07968741
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0409362
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0115267
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt013851050
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0896119
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt014747169
IRS990ScheduleD/EquipmentGrp/BookValueAmt0280243
IRS990ScheduleD/EquipmentGrp/DepreciationAmt046309
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0326552
IRS990ScheduleD/ExpensesSubtotalAmt06790241
IRS990ScheduleD/LandGrp/BookValueAmt01554975
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01554975
IRS990ScheduleD/RevenueSubtotalAmt07968741
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015686268
IRS990ScheduleD/TotalExpensesPerForm990Amt06790241
IRS990ScheduleD/TotalRevenuePerForm990Amt07968741
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07968741
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06790241
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Not Applicable
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Included in all brochures,and any advertising done on behalf of the school. Included in all forms of advertising
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 6b
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is given to the board for review prior to filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Conflict of Interest signed by Board members annually
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compared to other charter schools
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Board Member owns the restaurant that provides lunches to the school.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Acadia Northstar contracted to manage HR, Facilities and other operational functions
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 3
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt017098956
IRS990/TotalAssetsEOYAmt018344959
IRS990/TotalAssetsGrp/BOYAmt017098956
IRS990/TotalAssetsGrp/EOYAmt018344959
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt07542248
IRS990/TotalEmployeeCnt092
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02552964
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04237277
IRS990/TotalFunctionalExpensesGrp/TotalAmt06790241
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt017243964
IRS990/TotalLiabilitiesEOYAmt018922426
IRS990/TotalLiabilitiesGrp/BOYAmt017243964
IRS990/TotalLiabilitiesGrp/EOYAmt018922426
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-145008
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-577467
IRS990/TotalOtherCompensationAmt00

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