Civic Intelligence

South Carolina Acceleration Adacemies

990 • Fiscal year 2022 • EIN 85-1039210

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization ProfileLOWCOUNTRYACCELERATIONACADEMY.ORG
5935 Rivers Ave 101-aNorth Charleston, SC 29406

(843) 429-8003

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.83x

Higher debt load relative to assets than 92% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

69th percentile

0.23x

Higher debt load relative to revenue than 69% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

57th percentile

11%

Higher net margin than 57% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

96th percentile

156%

Faster asset growth than 96% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

98th percentile

612%

Faster revenue growth than 98% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$526,785

Up $321,138 (+156%) from 2021

Net Assets

Up

$91,955

Up $202,059 (+184%) from 2021

Liabilities

Up

$434,830

Up $119,079 (+38%) from 2021

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin57th percentile

Revenue

Up

$1,870,098

Up $1,607,529 (+612%) from 2021

Expenses

Up

$1,668,820

Up $1,296,147 (+348%) from 2021

Net Income

Up

$201,278

Up $311,382 (+283%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $205,647Liabilities 2021: $315,751Net Assets 2021: -$110,1042021Assets 2022: $526,785Liabilities 2022: $434,830Net Assets 2022: $91,9552022Assets 2023: $1,265,277Liabilities 2023: $842,230Net Assets 2023: $423,0472023Assets 2024: $2,792,852Liabilities 2024: $1,490,203Net Assets 2024: $1,302,6492024

Highlighted filing

2022

Assets$526,785
Liabilities$434,830
Net Assets$91,955
Open 2022 Filing

Operations Trend

Revenue Growth98th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $262,569Expenses 2021: $372,673Net Income 2021: -$110,1042021Revenue 2022: $1,870,098Expenses 2022: $1,668,820Net Income 2022: $201,2782022Revenue 2023: $3,459,674Expenses 2023: $3,128,583Net Income 2023: $331,0912023Revenue 2024: $7,214,184Expenses 2024: $6,334,580Net Income 2024: $879,6042024

Highlighted filing

2022

Revenue$1,870,098
Expenses$1,668,820
Net Income$201,278
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$1,870,098
Mission and Program Overview

Mission

The mission of lowcountry acceleration academy (laa) is to re-engage young adults not experiencing success in the traditional high school by helping them to identify their potential, overcome obstacles, build confidence, and provide the academic programming to earn their high school diploma, setting them on a career path to a brighter future.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$16,749$302,421▲ $285,672
Prepaid Expenses and Deferred Charges$0$110,839▲ $110,839
Pledges and Grants Receivable$188,898$99,152▼ $89,746
Rtn Earn Endowment Incm Other Fnds$-110,104$91,955▲ $202,059
Land, Buildings, and Equipment, Net$0$14,373▲ $14,373
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$205,647$526,785▲ $321,138
Liabilities
Accounts Payable and Accrued Expenses$54,701$434,830▲ $380,129
Other Liabilities$261,050$0▼ $261,050
Total Liabilities$315,751$434,830▲ $119,079
Net Assets / Fund Balance
Total Net Assets Fund Balance$-110,104$91,955▲ $202,059
Total Liabilities and Net Assets / Fund Balance$205,647$526,785▲ $321,138

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$14,373$1,739$16,112
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Eddie CrosbyChairman
Darryl BrownVice Chairman
Aimee LassorBoard Member
Carla Ferrette-clarkBoard Member
Sally-ann ArchieSecretary
Ned MooreTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,870,098
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$201,278

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,870,098
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,870,098
Total Revenue per Form 990
$1,870,098
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,641,163
Salaries, Compensation, and Employee Benefits$27,657
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$916,536-$916,536
Fees for Services Other$353,420--$353,420
Fees for Services Accounting-$62,153-$62,153
Advertising-$59,951-$59,951
Other Salaries and Wages$20,304$7,353-$27,657
Information Technology$5,836$21,044-$26,880
Occupancy$15,000--$15,000
Other Expenses$71,996$4,649-$4,649
Travel$2,407--$2,407
Depreciation Depletion$1,391$348-$1,739
Insurance-$1,429-$1,429
Office Expenses-$1,012-$1,012
Fees for Services Legal-$129-$129
All Other Expenses-$10-$10
Total Functional Expenses$584,267$1,084,553$0$1,668,820

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,668,820
Total Expenses per Audited Statements$1,668,820
Total Expenses per Form 990$1,668,820
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
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
No

Governance Explanations

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

“The 990 is submitted to the board chair for approval before filing.”

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

“The conflict of interest policy is reviewed annually by officers, directors, trustees and/or key employees.”

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
South Carolina Acceleration Adacemies
EIN
85-1039210
Phone
8434298003
Address
5935 RIVERS AVE 101-A, NORTH CHARLESTON, SC 29406
Doing Business As
Lowcountry Acceleration Academy

Signing Officer

Name
Eddie Crosby
Title
Board Chair
Phone
8434298003
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eddie Crosby
Formed
2019
Legal Domicile
Sc
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Martin Smith & Company Cpas Pa
Address
1212 HAYWOOD ROAD BLDG 100, GREENVILLE, SC 29615-2200
Preparer
David a Smith
Phone
8642321040
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Staff development & training : program service expenses 218,978. Management and general expenses 0. Fundraising expenses 0. Total expenses 218,978. Instructional services : program service expenses 39,630. Management and general expenses 0. Fundraising expenses 0. Total expenses 39,630. Psychological services : program service expenses 585. Management and general expenses 0. Fundraising expenses 0. Total expenses 585. Guidance services : program service expenses 85,587. Management and general expenses 0. Fundraising expenses 0. Total expenses 85,587. Curriculum development services : program service expenses 8,640. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,640.”

Form 990, Part IX, Line 24E

“Bank fees : program service expenses 0. Management and general expenses 10. Fundraising expenses 0. Total expenses 10.”

Financial Statement Notes

PART X, LINE 2:

“The financial statements were prepared in accordance with governmental accounting standards, which does not require the adoption of fin 48.”

Raw XML Appendix379 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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IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL PUBLICIZED THEIR RACIALLY NONDISCRIMINATORY POLICY THROUGH THE USE OF NEWSPAPER AND BILLBOARD ADS DURING THE REGISTRATION PERIOD.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL DOES NOT OFFER SCHOLARSHIPS
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL RECEIVED APPROXIMATELY $1,870,000 IN FEDERAL AND STATE GRANTS.
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/ExplanationTxt0THE 990 IS SUBMITTED TO THE BOARD CHAIR FOR APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY OFFICERS, DIRECTORS, TRUSTEES AND/OR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3STAFF DEVELOPMENT & TRAINING : PROGRAM SERVICE EXPENSES 218,978. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 218,978. INSTRUCTIONAL SERVICES : PROGRAM SERVICE EXPENSES 39,630. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 39,630. PSYCHOLOGICAL SERVICES : PROGRAM SERVICE EXPENSES 585. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 585. GUIDANCE SERVICES : PROGRAM SERVICE EXPENSES 85,587. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 85,587. CURRICULUM DEVELOPMENT SERVICES : PROGRAM SERVICE EXPENSES 8,640. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,640.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BANK FEES : PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 10. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0205647
IRS990/TotalAssetsEOYAmt0526785
IRS990/TotalAssetsGrp/BOYAmt0205647
IRS990/TotalAssetsGrp/EOYAmt0526785
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01870098
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01084553
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0584267
IRS990/TotalFunctionalExpensesGrp/TotalAmt01668820
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0315751
IRS990/TotalLiabilitiesEOYAmt0434830
IRS990/TotalLiabilitiesGrp/BOYAmt0315751
IRS990/TotalLiabilitiesGrp/EOYAmt0434830
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-110104
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt091955
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0584267
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01870098
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0205647
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0526785
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt02407
IRS990/TravelGrp/TotalAmt02407
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05935 RIVERS AVE 101-A
IRS990/USAddress/CityNm0NORTH CHARLESTON
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029406
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0LOWCOUNTRYACCELERATIONACADEMY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EDDIE CROSBY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum08434298003
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTH CAROLINA ACCELERATION ADACEMIES
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0851039210
ReturnHeader/Filer/PhoneNum08434298003
ReturnHeader/Filer/USAddress/AddressLine1Txt05935 RIVERS AVE 101-A
ReturnHeader/Filer/USAddress/CityNm0NORTH CHARLESTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029406
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0260793942
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARTIN SMITH & COMPANY CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01212 HAYWOOD ROAD BLDG 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0296152200
ReturnHeader/PreparerPersonGrp/PhoneNum08642321040
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A SMITH
ReturnHeader/ReturnTs02023-05-16T05:46:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0EDDIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CROSBY
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$526,785
Liabilities
$434,830
Net assets
$91,955
Revenue
$1,870,098
Expenses
$1,668,820
Net income
$201,278
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.79$1.49$1.30$7.21$6.33$0.88
2023Detailed filing. Detailed filing data is available for this year.$1.27$0.84$0.42$3.46$3.13$0.33
2022Detailed filing. Detailed filing data is available for this year.$0.53$0.43$0.09$1.87$1.67$0.20
2021Detailed filing. Detailed filing data is available for this year.$0.21$0.32$0.11$0.26$0.37$0.11
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00