Civic Intelligence

Mbc Academy Inc the Mills Academy

990 • Fiscal year 2022 • EIN 85-1232211

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

Organization ProfileN/A
1311 Herr Lane Suite 205Louisville, KY 40222

(502) 419-7811

Siviq Scores

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

Liabilities / Assets

65th percentile

0.08x

Higher debt load relative to assets than 65% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

39th percentile

0.01x

Higher debt load relative to revenue than 39% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

54th percentile

8.4%

Higher net margin than 54% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

75th percentile

$66,000

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 9.0% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

95th percentile

154%

Faster asset growth than 95% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

70th percentile

30%

Faster revenue growth than 70% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$53,845

Up $32,649 (+154%) from 2021

Net Assets

Up

$49,473

Up $61,775 (+502%) from 2021

Liabilities

Down

$4,372

Down $29,126 (-87%) from 2021

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin54th percentile

Revenue

Up

$736,295

Up $170,008 (+30%) from 2021

Expenses

Up

$674,520

Up $95,931 (+17%) from 2021

Net Income

Up

$61,775

Up $74,077 (+602%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$200K$150K$100K$50K$0-$50KAssets 2021: $21,196Liabilities 2021: $33,498Net Assets 2021: -$12,3022021Assets 2022: $53,845Liabilities 2022: $4,372Net Assets 2022: $49,4732022Assets 2023: $49,814Liabilities 2023: $8,540Net Assets 2023: $41,2742023Assets 2024: $155,289Liabilities 2024: $8,550Net Assets 2024: $146,7392024

Highlighted filing

2022

Assets$53,845
Liabilities$4,372
Net Assets$49,473
Open 2022 Filing

Operations Trend

Revenue Growth70th percentile

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

$1.0M$500K$0-$500KRevenue 2021: $566,287Expenses 2021: $578,589Net Income 2021: -$12,3022021Revenue 2022: $736,295Expenses 2022: $674,520Net Income 2022: $61,7752022Revenue 2023: $652,122Expenses 2023: $660,321Net Income 2023: -$8,1992023Revenue 2024: $873,169Expenses 2024: $773,596Net Income 2024: $99,5732024

Highlighted filing

2022

Revenue$736,295
Expenses$674,520
Net Income$61,775
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Aug 15, 2023
Return Version
2021v4.1
Gross Receipts
$736,295
Mission and Program Overview

Mission

To provide a quality education to children in grades k - 8 with dyslexia and other learning differences in an environmnet that allows them to thrive.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$18,304$40,767▲ $22,463
Land, Buildings, and Equipment, Net-$8,400-
Accounts Receivable-$1,785-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$21,196$53,845▲ $32,649
Other Assets Total$2,892$2,893▲ $1
Liabilities
Other Liabilities$33,098--
Accounts Payable and Accrued Expenses$400$4,372▲ $3,972
Total Liabilities$33,498$4,372▼ $29,126
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-12,302$49,473▲ $61,775
Total Net Assets Fund Balance$-12,302$49,473▲ $61,775
Total Liabilities and Net Assets / Fund Balance$21,196$53,845▲ $32,649

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,400$2,100$10,500
Other Assets Org$1--
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lindsey JonesDirectorFT$66,000$66,000
Norton T JonesPresidentFT$44,000$44,000

Board Members and Trustees

NameTitle
Brad MeyersDirector
Brett HaleDirector
Sonny SteierDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$736,295
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$61,775
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$356,513
Salaries, Compensation, and Employee Benefits$318,007
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$196,150--$196,150
Other Salaries and Wages$179,000--$179,000
Current Officers, Directors, Trustees, and Key Employees$88,000$22,000-$110,000
Occupancy$57,613--$57,613
Payroll Taxes$29,007--$29,007
Office Expenses$23,331--$23,331
All Other Expenses$12,249$3,389-$15,638
Insurance-$8,890-$8,890
Other Expenses$7,696$5,780-$7,696
Information Technology$4,853--$4,853
Fees for Services Legal-$2,960-$2,960
Fees for Services Accounting-$2,200-$2,200
Depreciation Depletion$2,100--$2,100
Travel$1,671--$1,671
Total Functional Expenses$629,301$45,219$0$674,520
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
Yes
Other officer compensation reviewed
Yes
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, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

01. Officer, Directors, Etc. Family Relationships (part VI, Line 2)

“Board members norton t jones and lindsey jones are married to each other.”

02. Committee Meeting Documentation (part VI, Line 8B)

“There were no committees with authority to act on behalf of the governing body.”

03. Form 990 Governing Body Review (part VI, Line 11)

“Appropriate board members review the return.”

04. Ceo, Executive Director, Top Management Comp (part VI, Line 15A)

“All compensation is approved by the board of directors.”

05. Other Office or Key Employee Compensation (part VI, Line 15B)

“All compensation is approved by the board of directors.”

Governing Documents, Etc, Avaliable to Public (part VI, Line 19)

“Information is provided to the public on an "as needed" basis.”

Filing and Contact Details

Filer

Filer Name
MBC Academy Inc
EIN
85-1232211
Phone
5024197811
Address
1311 Herr Lane Suite 205, Louisville, KY 40222

Signing Officer

Name
Norton T Jones
Title
President
Signed
2023-08-15
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Ky
Voting Board Members
5
Independent Board Members
3
Employees
6

Preparer

Firm
King Company CPAs
Address
3400 Dutchmans Lane, Louisville, KY 40205
Preparer
Ronnie Harris CPA
Phone
5024595000
Supplemental Narrative

Additional Explanations

07. List of Other Fees for Services Expenses (part IX, Line 11G)

“Fees for services paid to non-employees for special therapies which fall outside of basic academic instruction.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS NORTON T JONES AND LINDSEY JONES ARE MARRIED TO EACH OTHER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE WERE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4APPROPRIATE BOARD MEMBERS REVIEW THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7FEES FOR SERVICES PAID TO NON-EMPLOYEES FOR SPECIAL THERAPIES WHICH FALL OUTSIDE OF BASIC ACADEMIC INSTRUCTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8INFORMATION IS PROVIDED TO THE PUBLIC ON AN "AS NEEDED" BASIS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc201. OFFICER, DIRECTORS, ETC. FAMILY RELATIONSHIPS (PART VI, LINE 2)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc302. COMMITTEE MEETING DOCUMENTATION (PART VI, LINE 8B)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc403. FORM 990 GOVERNING BODY REVIEW (PART VI, LINE 11)
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc707. LIST OF OTHER FEES FOR SERVICES EXPENSES (PART IX, LINE 11G)
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-15
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ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0The Mills Academy
ReturnHeader/Filer/BusinessNameControlTxt0MBCA
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0King Company CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03400 Dutchmans Lane
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
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ReturnHeader/PreparerPersonGrp/PhoneNum05024595000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Ronnie Harris CPA
ReturnHeader/ReturnTs02023-08-15T09:41:44-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NORTON T
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JONES
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$53,845
Liabilities
$4,372
Net assets
$49,473
Revenue
$736,295
Expenses
$674,520
Net income
$61,775
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.55$0.09$1.47$8.73$7.74$1.00
2023Detailed filing. Detailed filing data is available for this year.$0.50$0.09$0.41$6.52$6.60$0.08
2022Detailed filing. Detailed filing data is available for this year.$0.54$0.04$0.49$7.36$6.75$0.62
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.33$0.12$5.66$5.79$0.12