Civic Intelligence

Mbc Academy Inc the Mills Academy

990 • Fiscal year 2023 • EIN 85-1232211

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 27, 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

74th percentile

0.17x

Higher debt load relative to assets than 74% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

46th percentile

0.01x

Higher debt load relative to revenue than 46% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

37th percentile

-1.3%

Higher net margin than 37% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

77th percentile

$72,000

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 11.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

21st percentile

-7.5%

Faster asset growth than 21% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

24th percentile

-11%

Faster revenue growth than 24% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets74th percentile

Assets

Down

$49,814

Down $4,031 (-7.5%) from 2022

Net Assets

Down

$41,274

Down $8,199 (-17%) from 2022

Liabilities

Up

$8,540

Up $4,168 (+95%) from 2022

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin37th percentile

Revenue

Down

$652,122

Down $84,173 (-11%) from 2022

Expenses

Down

$660,321

Down $14,199 (-2.1%) from 2022

Net Income

Down

-$8,199

Down $69,974 (-113%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth21st 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

2023

Assets$49,814
Liabilities$8,540
Net Assets$41,274
Open 2023 Filing

Operations Trend

Revenue Growth24th 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

2023

Revenue$652,122
Expenses$660,321
Net Income-$8,199
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 27, 2023
Return Version
2022v5.0
Gross Receipts
$652,122
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$40,768$37,097▼ $3,671
Land, Buildings, and Equipment, Net$8,400$5,040▼ $3,360
Accounts Receivable$1,785$1,785→ $0
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$53,845$49,814▼ $4,031
Other Assets Total$2,892$5,892▲ $3,000
Liabilities
Accounts Payable and Accrued Expenses$4,372$8,540▲ $4,168
Total Liabilities$4,372$8,540▲ $4,168
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$49,473$41,274▼ $8,199
Total Net Assets Fund Balance$49,473$41,274▼ $8,199
Total Liabilities and Net Assets / Fund Balance$53,845$49,814▼ $4,031

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,040$5,460$10,500
Other Assets Org$5,892--
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lindsey JonesDirectorFT$72,000$72,000
Norton T JonesPresidentFT$48,000$48,000

Board Members and Trustees

NameTitle
Brad MeyersDirector
Brett HaleDirector
Sonny SteierDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$652,113
Investment Income
$0
Other Revenue
$9
Change in Net Assets
$-8,199
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$462,040
Other Expenses$198,281
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Pension Plan Contributions$303,881--$303,881
Current Officers, Directors, Trustees, and Key Employees$96,000$24,000-$120,000
Occupancy$65,555--$65,555
Fees for Services Other$41,327--$41,327
Payroll Taxes$38,159--$38,159
Office Expenses$20,510--$20,510
All Other Expenses$13,675$3,586-$17,261
Insurance-$14,553-$14,553
Other Expenses$4,228$5,330-$4,228
Fees for Services Accounting-$4,228-$4,228
Depreciation Depletion$3,360--$3,360
Information Technology$1,569--$1,569
Fees for Services Legal-$1,339-$1,339
Travel$518--$518
Total Functional Expenses$607,285$53,036$0$660,321
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, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“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
2023-11-27
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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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
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, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
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)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc504. CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT COMP (PART VI, LINE 15A)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc605. OTHER OFFICE OR KEY EMPLOYEE COMPENSATION (PART VI, LINE 15B)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc707. LIST OF OTHER FEES FOR SERVICES EXPENSES (PART IX, LINE 11G)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8GOVERNING DOCUMENTS, ETC, AVALIABLE TO PUBLIC (PART VI, LINE 19)
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IRS990/USAddress/ZIPCd040222
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt03
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NORTON T JONES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MBC Academy Inc
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0The Mills Academy
ReturnHeader/Filer/BusinessNameControlTxt0MBCA
ReturnHeader/Filer/EIN0851232211
ReturnHeader/Filer/PhoneNum05024197811
ReturnHeader/Filer/USAddress/AddressLine1Txt01311 Herr Lane Suite 205
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472043205
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0King Company CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03400 Dutchmans Lane
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Louisville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040205
ReturnHeader/PreparerPersonGrp/PhoneNum05024595000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Ronnie Harris CPA
ReturnHeader/ReturnTs02023-11-27T07:35:50-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NORTON T
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JONES
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$49,814
Liabilities
$8,540
Net assets
$41,274
Revenue
$652,122
Expenses
$660,321
Net income
-$8,199
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
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$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