Civic Intelligence

Union Day School Foundation Inc.

990 • Fiscal year 2019 • EIN 82-4504704

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 14, 2020

3000 Tilley Morris RdWeddington, NC 28104

(704) 256-1494

Siviq Scores

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

Liabilities / Assets

91st percentile

1.06x

Higher debt load relative to assets than 91% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2019

Net Margin

100th percentile

490%

Higher net margin than 100% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Source year 2019

Asset Growth

95th percentile

96%

Faster asset growth than 95% of similar nonprofits.

2019 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2018 to 2019

Assets

Up

$14,301,857

Up $7,018,466 (+96%) from 2018

Net Assets

Down

-$817,516

Down $823,077 (-14801%) from 2018

Liabilities

Up

$15,119,373

Up $7,841,543 (+108%) from 2018

Revenue

Down

-$168,066

Down $179,611 (-1556%) from 2018

Expenses

Up

$655,011

Up $649,027 (+10846%) from 2018

Net Income

Down

-$823,077

Down $828,638 (-14901%) from 2018

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2018: $7,283,391Liabilities 2018: $7,277,830Net Assets 2018: $5,5612018Assets 2019: $14,301,857Liabilities 2019: $15,119,373Net Assets 2019: -$817,5162019Assets 2020: $13,530,068Liabilities 2020: $14,650,000Net Assets 2020: -$1,119,9322020Assets 2021: $13,240,854Liabilities 2021: $14,440,000Net Assets 2021: -$1,199,1462021Assets 2022: $12,928,952Liabilities 2022: $14,220,000Net Assets 2022: -$1,291,0482022Assets 2023: $12,549,292Liabilities 2023: $14,078,115Net Assets 2023: -$1,528,8232023Assets 2024: $12,297,018Liabilities 2024: $13,735,000Net Assets 2024: -$1,437,9822024

Highlighted filing

2019

Assets$14,301,857
Liabilities$15,119,373
Net Assets-$817,516

Operations Trend

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

$1.0M$500K$0-$500K-$1.0MRevenue 2018: $11,545Expenses 2018: $5,984Net Income 2018: $5,5612018Revenue 2019: -$168,066Expenses 2019: $655,011Net Income 2019: -$823,0772019Revenue 2020: -$302,150Expenses 2020: $266Net Income 2020: -$302,4162020Revenue 2021: -$71,676Expenses 2021: $7,538Net Income 2021: -$79,2142021Revenue 2022: -$91,617Expenses 2022: $285Net Income 2022: -$91,9022022Revenue 2023: -$231,654Expenses 2023: $6,121Net Income 2023: -$237,7752023Revenue 2024: $191,097Expenses 2024: $100,256Net Income 2024: $90,8412024

Highlighted filing

2019

Revenue-$168,066
Expenses$655,011
Net Income-$823,077
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 14, 2020
Return Version
2018v3.2
Gross Receipts
$789,042
Mission and Program Overview

Mission

The organization is operated to financially support and raise funds for union day scjhool, inc, a nc charter school

The organization financially supports and raises funds for union day school inc, a nc charter school,

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,218,670$11,075,936▲ $3,857,266
Cash and Non-Interest-Bearing Accounts$3,495$17,477▲ $13,982
Savings and Temporary Cash Investments$50,126$5,502▼ $44,624
Accounts Receivable$100$0▼ $100
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$5,561$-817,516▼ $823,077
Total Assets$7,283,391$14,301,857▲ $7,018,466
Other Assets Total$11,000$3,202,942▲ $3,191,942
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,109,086$14,840,000▲ $7,730,914
Accounts Payable and Accrued Expenses$0$279,373▲ $279,373
Other Liabilities$168,744$0▼ $168,744
Total Liabilities$7,277,830$15,119,373▲ $7,841,543
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,561$-817,516▼ $823,077
Total Liabilities and Net Assets / Fund Balance$7,283,391$14,301,857▲ $7,018,466

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,615,095$231,607-
Other Land Buildings$3,167,341--
Land$293,500--
Other Assets Org$3,191,942--
Compensation and Service Providers

Board Members and Trustees

NameTitle
F Boyce ThiesChairman of the Board
Kimberly BarkerVice Chairman of the Board
Erin KirkpatrickDirector
Joan MazzuSecretary
Joely LordTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,025
Program Service Revenue
$0
Investment Income
$50,318
Other Revenue
$-222,409
All Other Contributions
$4,025
Change in Net Assets
$-823,077
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$655,011
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
Fees for Services Other-$605,397-$605,397
Fees for Services Accounting-$25,000-$25,000
Fees for Services Legal-$17,071-$17,071
Other Expenses$3,851$682-$4,533
Information Technology$1,877$331-$2,208
Office Expenses-$418-$418
Advertising-$384-$384
Total Functional Expenses$5,728$649,283$0$655,011
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$9,789
Fundraising Direct Expenses$2,480
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority of Wisconsin2001-11-01$14,840,000Acquisition, construction, improvement, and equipping of school facilities

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$14,840,000--$605,397

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The organization's board chairman reviews the form 990 with the return preparer before filing of the return. A full copy of the form 990 is then reviewed by the board chairman with the other board members.

Form 990, Part VI, Section C, Line 18

The organization makes its form 990 available to the public upon request

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and policies and any financial statements available to the public upon request

Filing and Contact Details

Filer

Filer Name
Union Day School Foundation Inc
EIN
82-4504704
Phone
7042561494
Address
3000 TILLEY MORRIS RD, WEDDINGTON, NC 28104

Signing Officer

Name
F Boyce Thies
Title
Chairman of the Board
Phone
7043612663
Signed
2020-07-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
F Boyce Thies
Formed
2015
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
28

Preparer

Firm
Potter & Company Pa
Address
114 N CHURCH STREET, MONROE, NC 28112
Preparer
Kenni E Doyle CPA
Phone
7042838189
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Bond costs: program service expenses 0. Management and general expenses 605,397. Fundraising expenses 0. Total expenses 605,397.

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The foundation has adopted asc 740-10 as it relates to uncertain tax positions for the year ended june 30, 2019 and have evaluated their tax positions taken for all open tax years. However, the foundation is not currently under audit nor has the foundation been contacted by these jurisdictions. Based on the evaluation of the foundation'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 end june 30, 2019.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS ADOPTED ASC 740-10 AS IT RELATES TO UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2019 AND HAVE EVALUATED THEIR TAX POSITIONS TAKEN FOR ALL OPEN TAX YEARS. HOWEVER, THE FOUNDATION IS NOT CURRENTLY UNDER AUDIT NOR HAS THE FOUNDATION BEEN CONTACTED BY THESE JURISDICTIONS. BASED ON THE EVALUATION OF THE FOUNDATION'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 END JUNE 30, 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011075936
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03202942
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02001-11-01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt014840000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0PUBLIC FINANCE AUTHORITY OF WISCONSIN
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0ACQUISITION, CONSTRUCTION, IMPROVEMENT, AND EQUIPPING OF SCHOOL FACILITIES
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt011042661
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt03191942
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0605397
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02019
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt014840000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S BOARD CHAIRMAN REVIEWS THE FORM 990 WITH THE RETURN PREPARER BEFORE FILING OF THE RETURN. A FULL COPY OF THE FORM 990 IS THEN REVIEWED BY THE BOARD CHAIRMAN WITH THE OTHER BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND POLICIES AND ANY FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOND COSTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 605,397. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 605,397.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0UNION DAY SCHOOL INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0471782363
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501 (C) (3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0OPERATION OF A NC CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt03000 TILLEY MORRIS ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WEDDINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd028104
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0724910
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0LEASE PAYMENTS
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0UNION DAY SCHOOL INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0J
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd01
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt07283391
IRS990/TotalAssetsEOYAmt014301857
IRS990/TotalAssetsGrp/BOYAmt07283391
IRS990/TotalAssetsGrp/EOYAmt014301857
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt04025
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0649283
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05728
IRS990/TotalFunctionalExpensesGrp/TotalAmt0655011
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07277830
IRS990/TotalLiabilitiesEOYAmt015119373
IRS990/TotalLiabilitiesGrp/BOYAmt07277830
IRS990/TotalLiabilitiesGrp/EOYAmt015119373
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05561
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-817516
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt05728
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt057627
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-229718
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-168066
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt028
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt07283391
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt014301857
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03000 TILLEY MORRIS RD
IRS990/USAddress/CityNm0WEDDINGTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028104

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