Civic Intelligence

Ascend Leadership Academy Inc.

990 • Fiscal year 2021 • EIN 82-2660338

Jul 01, 2020 to Jun 30, 2021 • Filed on May 06, 2022

Organization ProfileWWW.ASCENDLEADERSHIPACADEMY.ORG

View Organization Page

283 Harvey Faulk RoadSanford, NC 27332

(919) 842-5411

Siviq Scores

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

Liabilities / Assets

64th percentile

0.21x

Higher debt load relative to assets than 64% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

38th percentile

0.04x

Higher debt load relative to revenue than 38% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Net Margin

43rd percentile

9.1%

Higher net margin than 43% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

46th percentile

$48,401

Higher top officer pay than 46% of similar nonprofits.

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

2021 filings • NTEE B • $1M-$5M nonprofits • Source year 2021

Asset Growth

92nd percentile

125%

Faster asset growth than 92% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

72nd percentile

41%

Faster revenue growth than 72% of similar nonprofits.

2021 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$703,081

Up $390,821 (+125%) from 2020

Net Assets

Up

$555,079

Up $333,370 (+150%) from 2020

Liabilities

Up

$148,002

Up $57,451 (+63%) from 2020

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin43rd percentile

Revenue

Up

$3,683,299

Up $1,079,290 (+41%) from 2020

Expenses

Up

$3,349,929

Up $926,340 (+38%) from 2020

Net Income

Up

$333,370

Up $152,950 (+85%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$30M$20M$10M$0-$10MAssets 2019: $86,543Liabilities 2019: $45,254Net Assets 2019: $41,2892019Assets 2020: $312,260Liabilities 2020: $90,551Net Assets 2020: $221,7092020Assets 2021: $703,081Liabilities 2021: $148,002Net Assets 2021: $555,0792021Assets 2022: $19,652,190Liabilities 2022: $20,102,650Net Assets 2022: -$450,4602022Assets 2023: $18,270,247Liabilities 2023: $19,315,345Net Assets 2023: -$1,045,0982023Assets 2024: $17,842,608Liabilities 2024: $19,326,789Net Assets 2024: -$1,484,1812024

Highlighted filing

2021

Assets$703,081
Liabilities$148,002
Net Assets$555,079
Open 2021 Filing

Operations Trend

Revenue Growth72nd percentile

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

$10M$5.0M$0-$5.0MRevenue 2019: $1,279,948Expenses 2019: $1,238,659Net Income 2019: $41,2892019Revenue 2020: $2,604,009Expenses 2020: $2,423,589Net Income 2020: $180,4202020Revenue 2021: $3,683,299Expenses 2021: $3,349,929Net Income 2021: $333,3702021Revenue 2022: $5,113,619Expenses 2022: $6,119,158Net Income 2022: -$1,005,5392022Revenue 2023: $6,306,450Expenses 2023: $6,901,088Net Income 2023: -$594,6382023Revenue 2024: $6,995,135Expenses 2024: $7,434,218Net Income 2024: -$439,0832024

Highlighted filing

2021

Revenue$3,683,299
Expenses$3,349,929
Net Income$333,370
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 6, 2022
Return Version
2020v4.2
Gross Receipts
$3,683,299
Mission and Program Overview

Mission

Our mission is to develop successful student leaders by growing their self-efficacy, intellectual understanding, and social competence. Ala will accomplish this by applying innovative teaching methods, incorporating student cultural realities, and cultivating student ownership in the learning community.

Ascend leadership academy seeks to develop successful student leaders by growing their self-efficacy, intellectual understanding, and social competence. Ala will accomplish this by applying innovative teaching methods, incorporating student cultural realities, and cultivating student ownership in the learning community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$181,161$477,902▲ $296,741
Accounts Receivable$12,781$323,929▲ $311,148
Cash and Non-Interest-Bearing Accounts$258,547$273,713▲ $15,166
Land, Buildings, and Equipment, Net$40,548$77,177▲ $36,629
Pd in Cap Srpls Land Bldg Eqp Fund$40,548$77,177▲ $36,629
Prepaid Expenses and Deferred Charges$384$28,262▲ $27,878
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$312,260$703,081▲ $390,821
Liabilities
Accounts Payable and Accrued Expenses$90,551$148,002▲ $57,451
Total Liabilities$90,551$148,002▲ $57,451
Net Assets / Fund Balance
Total Net Assets Fund Balance$221,709$555,079▲ $333,370
Total Liabilities and Net Assets / Fund Balance$312,260$703,081▲ $390,821

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$27,894$4,769-
Equipment$49,283$16,268-
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Justin SmithManaging DirectorFT$39,923$8,478$48,401

Board Members and Trustees

NameTitle
Steven GatlinBoard Chair
Anna FonkeVice Chair
Tina FoxBoard Member
Brandy GrindleSecretary
Ebony ArringtonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Charter Success Partners LLCFinancial Management ServicesPO BOX 71092, Durham, NC 27704$272,490
Revenue and Support

Revenue Composition

Contributions and Grants
$3,683,299
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$432,489
Change in Net Assets
$333,370

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,683,299
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,683,299
Total Revenue per Form 990
$3,683,299
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,349,929
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
Other Expenses$1,331,321--$1,331,321
Total Functional Expenses$3,349,929$0$0$3,349,929

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,349,929
Total Expenses per Audited Statements$3,349,929
Total Expenses per Form 990$3,349,929
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

“This is managed through the voting process at board meetings and documented in the minutes.”

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

“A draft copy of the 990 return was provided to the board of directors for review.”

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

“Conflict of interest policies are reviewed at board meetings and documented in the minutes.”

Form 990, Part VI, Section B, Line 15A

“Compensation is determined through the voting process at board meetings and documented in the minutes.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy, and financial statements are available for public inspection at the organization's office upon request. Organization staff are available to provide supervision and answer any questions the inquiring party may have.”

Filing and Contact Details

Filer

Filer Name
Ascend Leadership Academy
EIN
82-2660338
Phone
9198425411
Address
283 HARVEY FAULK ROAD, SANFORD, NC 27332

Signing Officer

Name
Justin T Smith
Title
Managing Director
Phone
9198425411
Signed
2022-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Justin T Smith
Formed
2016
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
52
Volunteers
0

Preparer

Firm
Potter & Company Pa
Address
434 COPPERFIELD BLVD NE STE A, CONCORD, NC 28025
Preparer
Kenni E Doyle CPA
Phone
7047868189
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The school has adopted asc 740-10 as it relates to uncertain tax positions for the year ended june 30, 2021, and has evaluated its tax positions taken for all open tax years. However, the school is not currently under audit nor has the school been contacted by the internal revenue service. Based on the evaluation of the school's tax positions, management believes all positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended june 30, 2021. .”

Raw XML Appendix353 raw XML fields

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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IRS990/MissionDesc0OUR MISSION IS TO DEVELOP SUCCESSFUL STUDENT LEADERS BY GROWING THEIR SELF-EFFICACY, INTELLECTUAL UNDERSTANDING, AND SOCIAL COMPETENCE. ALA WILL ACCOMPLISH THIS BY APPLYING INNOVATIVE TEACHING METHODS, INCORPORATING STUDENT CULTURAL REALITIES, AND CULTIVATING STUDENT OWNERSHIP IN THE LEARNING COMMUNITY.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL HAS ADOPTED ASC 740-10 AS IT RELATES TO UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2021, AND HAS EVALUATED ITS TAX POSITIONS TAKEN FOR ALL OPEN TAX YEARS. HOWEVER, THE SCHOOL IS NOT CURRENTLY UNDER AUDIT NOR HAS THE SCHOOL BEEN CONTACTED BY THE INTERNAL REVENUE SERVICE. BASED ON THE EVALUATION OF THE SCHOOL'S TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR ENDED JUNE 30, 2021. .
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ASCEND LEADERSHIP ACADEMY'S EDUCATION PROGRAM IS PUBLICIZED ORALLY AT OPEN HOUSES, INCLUDED IN WRITTEN EDUCATION BROCHURES, AND POSTED ON THE SCHOOL'S WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS A PUBLIC CHARTER SCHOOL; THEREFORE, IT DOES NOT OFFER SCHOLARSHIPS OR FINANCIAL AID.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION RECEIVES FEDERAL AND STATE ASSISTANCE THROUGH THE STATE BOARD OF EDUCATION.
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/ExplanationTxt0THIS IS MANAGED THROUGH THE VOTING PROCESS AT BOARD MEETINGS AND DOCUMENTED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT COPY OF THE 990 RETURN WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICT OF INTEREST POLICIES ARE REVIEWED AT BOARD MEETINGS AND DOCUMENTED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION IS DETERMINED THROUGH THE VOTING PROCESS AT BOARD MEETINGS AND DOCUMENTED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE UPON REQUEST. ORGANIZATION STAFF ARE AVAILABLE TO PROVIDE SUPERVISION AND ANSWER ANY QUESTIONS THE INQUIRING PARTY MAY HAVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
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 B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt0703081
IRS990/TotalAssetsGrp/BOYAmt0312260
IRS990/TotalAssetsGrp/EOYAmt0703081
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03683299
IRS990/TotalEmployeeCnt052
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03349929
IRS990/TotalFunctionalExpensesGrp/TotalAmt03349929
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt090551
IRS990/TotalLiabilitiesEOYAmt0148002
IRS990/TotalLiabilitiesGrp/BOYAmt090551
IRS990/TotalLiabilitiesGrp/EOYAmt0148002
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0221709
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0555079
IRS990/TotalOtherCompensationAmt08478
IRS990/TotalProgramServiceExpensesAmt03349929
IRS990/TotalReportableCompFromOrgAmt039923
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03683299
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0312260
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0703081
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0SANFORD
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027332
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.ASCENDLEADERSHIPACADEMY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JUSTIN T SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGING DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09198425411
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ASCEND LEADERSHIP ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0ASCE
ReturnHeader/Filer/EIN0822660338
ReturnHeader/Filer/PhoneNum09198425411
ReturnHeader/Filer/USAddress/AddressLine1Txt0283 HARVEY FAULK ROAD
ReturnHeader/Filer/USAddress/CityNm0SANFORD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027332
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561220683
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0POTTER & COMPANY PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0434 COPPERFIELD BLVD NE STE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CONCORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028025
ReturnHeader/PreparerPersonGrp/PhoneNum07047868189
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNI E DOYLE CPA
ReturnHeader/ReturnTs02022-05-16T07:31:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JUSTIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SMITH
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$703,081
Liabilities
$148,002
Net assets
$555,079
Revenue
$3,683,299
Expenses
$3,349,929
Net income
$333,370
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$17.8$19.3$1.48$7.00$7.43$0.44
2023Detailed filing. Detailed filing data is available for this year.$18.3$19.3$1.05$6.31$6.90$0.59
2022Detailed filing. Detailed filing data is available for this year.$19.7$20.1$0.45$5.11$6.12$1.01
2021Detailed filing. Detailed filing data is available for this year.$0.70$0.15$0.56$3.68$3.35$0.33
2020Detailed filing. Detailed filing data is available for this year.$0.31$0.09$0.22$2.60$2.42$0.18
2019Detailed filing. Detailed filing data is available for this year.$0.09$0.05$0.04$1.28$1.24$0.04