Civic Intelligence

The Oaks Charlotte

990 • Fiscal year 2020 • EIN 82-3073175

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 23, 2020

Organization ProfileTHEOAKSCHARLOTTE.ORG
338 S Sharon Amity Road No 326Charlotte, NC 28211

(980) 242-9933

Siviq Scores

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

Liabilities / Assets

88th percentile

0.72x

Higher debt load relative to assets than 88% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

73rd percentile

0.39x

Higher debt load relative to revenue than 73% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

62nd percentile

12%

Higher net margin than 62% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

73rd percentile

$110,417

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 10.6% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

96th percentile

202%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

95th percentile

142%

Faster revenue growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$565,308

Up $378,409 (+202%) from 2019

Net Assets

Up

$155,884

Up $120,262 (+338%) from 2019

Liabilities

Up

$409,424

Up $258,147 (+171%) from 2019

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin62nd percentile

Revenue

Up

$1,040,084

Up $609,794 (+142%) from 2019

Expenses

Up

$919,822

Up $644,209 (+234%) from 2019

Net Income

Down

$120,262

Down $34,415 (-22%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$1.5M$1.0M$500K$0Assets 2019: $186,899Liabilities 2019: $151,277Net Assets 2019: $35,6222019Assets 2020: $565,308Liabilities 2020: $409,424Net Assets 2020: $155,8842020Assets 2021: $1,304,434Liabilities 2021: $899,743Net Assets 2021: $404,6912021Assets 2022: $1,416,136Liabilities 2022: $961,827Net Assets 2022: $454,3092022

Highlighted filing

2020

Assets$565,308
Liabilities$409,424
Net Assets$155,884
Open 2020 Filing

Operations Trend

Revenue Growth95th percentile

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

$2.0M$1.5M$1.0M$500K$0Revenue 2019: $430,290Expenses 2019: $275,613Net Income 2019: $154,6772019Revenue 2020: $1,040,084Expenses 2020: $919,822Net Income 2020: $120,2622020Revenue 2021: $1,318,180Expenses 2021: $1,069,373Net Income 2021: $248,8072021Revenue 2022: $1,722,095Expenses 2022: $1,672,477Net Income 2022: $49,6182022

Highlighted filing

2020

Revenue$1,040,084
Expenses$919,822
Net Income$120,262
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 23, 2020
Return Version
2019v5.1
Gross Receipts
$1,040,084
Mission and Program Overview

Mission

We exist to nurture and develop the whole child - heart, mind, body, and soul - as an image bearer of god through an experiential classroom model, a christ-centered biblical worldview, community service partnerships and a year-round learning model.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$277,118-
Cash and Non-Interest-Bearing Accounts$168,927$262,456▲ $93,529
Land, Buildings, and Equipment, Net$15,937$20,735▲ $4,798
Prepaid Expenses and Deferred Charges$770$2,213▲ $1,443
Total Assets$186,899$565,308▲ $378,409
Other Assets Total$1,265$2,786▲ $1,521
Liabilities
Deferred Revenue-$295,965-
Other Liabilities$142,000$0▼ $142,000
Unsecured Notes Loans Payable-$92,053-
Accounts Payable and Accrued Expenses$9,277$21,406▲ $12,129
Total Liabilities$151,277$409,424▲ $258,147
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$35,622$155,884▲ $120,262
Total Net Assets Fund Balance$35,622$155,884▲ $120,262
Total Liabilities and Net Assets / Fund Balance$186,899$565,308▲ $378,409

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$20,735$3,718$24,453
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Daniel Sturdevant - OutgoingHead of SchoolFT$110,417$110,417

Board Members and Trustees

NameTitle
Dowd SimpsonChairman
Greg KeithVice Chairman
Heidi TringaliBoard Member
India KeithBoard Member
Erica Stroup - IncomingHead of School
Erin HanelineSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$675,339
Program Service Revenue
$364,220
Investment Income
$525
Other Revenue
$0
All Other Contributions
$675,339
Change in Net Assets
$120,262
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$599,832
Other Expenses$319,990
Total Fundraising Expense$14,119
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$377,781$61,478-$439,259
Fees for Services Other$38,394$93,245-$131,639
Current Officers, Directors, Trustees, and Key Employees$46,833$58,542$11,708$117,083
Occupancy$44,805--$44,805
Payroll Taxes$30,728$8,685$847$40,260
Advertising-$33,082-$33,082
Fees for Services Accounting-$23,175-$23,175
Information Technology$15,338--$15,338
All Other Expenses$4,537$5,113$1,496$11,146
Insurance$5,204$3,933-$9,137
Office Expenses$550$6,067-$6,617
Other Employee Benefits$2,465$697$68$3,230
Other Expenses$3,419$2,725-$2,725
Depreciation Depletion-$2,269-$2,269
Travel-$340-$340
Total Functional Expenses$591,278$314,425$14,119$919,822
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
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
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
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Dowd simpson is the daughter of greg and india keith. They all serve on the board of directors.”

Form 990, Part VI, Section A, Line 8B

“The organization does not keep separate minutes of committee meetings. The committees give a report to the board in their meetings and those reports are included in the board meetings.”

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

“The head of school and board of directors will review the 990 before it is filed.”

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

“The organization enforces a conflict of interest policy. The conflict of interest policy provides due diligence procedures and guidance on how to deal with policy violations. Each director, principal officer and member sign an annual statement that they understand and will comply with the policy. The policy is also annually reviewed.”

Form 990, Part VI, Section B, Line 15

“Initial compensation for the head of school was based on the recommendation and negotiation of the executive committee and the head of school candidate. Subsequent increases are determined by the executive committee of the board of trustees after an annual review. Compensation for other employees is benchmarked against averages of similar organizations.”

Form 990, Part VI, Section C, Line 19

“The organizations governing documents, conflict of interest policy, and financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Oaks Charlotte
EIN
82-3073175
Phone
9802429933
Address
338 S SHARON AMITY ROAD NO 326, CHARLOTTE, NC 28211
Doing Business As
Oaks Christian School

Signing Officer

Name
Erica Stroup
Title
Head of School
Phone
9802429933
Signed
2020-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erica Stroup
Formed
2017
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
11
Volunteers
15

Preparer

Firm
Greerwalker Llp
Address
227 WEST TRADE ST SUITE 1100, CHARLOTTE, NC 28202
Preparer
Paula P Tilley
Phone
7043770239
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees - contract labor: therapy: program service expenses 38,394. Management and general expenses 0. Fundraising expenses 0. Total expenses 38,394. Other professional fees - consulting fees: program service expenses 0. Management and general expenses 93,245. Fundraising expenses 0. Total expenses 93,245.”

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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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IRS990ScheduleD/TotalBookValueLandBuildingsAmt020735
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL HAS A RACIALLY NONDISCRIMINATORY POLICY WHICH IS AVAILABLE ON THE SCHOOL WEBSITE, INCLUDING THE ADMISSIONS PAGE. THE POLICY IS ALSO PRINTED ON THE STUDENT ADMISSION APPLICATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DOWD SIMPSON IS THE DAUGHTER OF GREG AND INDIA KEITH. THEY ALL SERVE ON THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT KEEP SEPARATE MINUTES OF COMMITTEE MEETINGS. THE COMMITTEES GIVE A REPORT TO THE BOARD IN THEIR MEETINGS AND THOSE REPORTS ARE INCLUDED IN THE BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE HEAD OF SCHOOL AND BOARD OF DIRECTORS WILL REVIEW THE 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION ENFORCES A CONFLICT OF INTEREST POLICY. THE CONFLICT OF INTEREST POLICY PROVIDES DUE DILIGENCE PROCEDURES AND GUIDANCE ON HOW TO DEAL WITH POLICY VIOLATIONS. EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER SIGN AN ANNUAL STATEMENT THAT THEY UNDERSTAND AND WILL COMPLY WITH THE POLICY. THE POLICY IS ALSO ANNUALLY REVIEWED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INITIAL COMPENSATION FOR THE HEAD OF SCHOOL WAS BASED ON THE RECOMMENDATION AND NEGOTIATION OF THE EXECUTIVE COMMITTEE AND THE HEAD OF SCHOOL CANDIDATE. SUBSEQUENT INCREASES ARE DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AFTER AN ANNUAL REVIEW. COMPENSATION FOR OTHER EMPLOYEES IS BENCHMARKED AGAINST AVERAGES OF SIMILAR ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATIONS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OTHER PROFESSIONAL FEES - CONTRACT LABOR: THERAPY: PROGRAM SERVICE EXPENSES 38,394. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 38,394. OTHER PROFESSIONAL FEES - CONSULTING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 93,245. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 93,245.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt0565308
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0675339
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt014119
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0314425
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0591278
IRS990/TotalFunctionalExpensesGrp/TotalAmt0919822
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0155884
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0591278
IRS990/TotalProgramServiceRevenueAmt0364220
IRS990/TotalReportableCompFromOrgAmt0110417
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0364745
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01040084
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0565308
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0340
IRS990/TravelGrp/TotalAmt0340
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt092053
IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0THEOAKSCHARLOTTE.ORG
IRS990/WhistleblowerPolicyInd01
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$565,308
Liabilities
$409,424
Net assets
$155,884
Revenue
$1,040,084
Expenses
$919,822
Net income
$120,262
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$1.42$0.96$0.45$1.72$1.67$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.30$0.90$0.40$1.32$1.07$0.25
2020Detailed filing. Detailed filing data is available for this year.$0.57$0.41$0.16$1.04$0.92$0.12
2019Summary only. Only limited summary data is available for this year.$0.19$0.15$0.04$0.43$0.28$0.15