Civic Intelligence

Shining Rock Classical Academy Holdings

990 • Fiscal year 2023 • EIN 87-3229485

Jul 01, 2022 to Jun 30, 2023 • Filed on Jul 17, 2024

Organization ProfileN/A
2150 Russ AvenueWaynesville, NC 28786

(919) 479-1442

Siviq Scores

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

Liabilities / Assets

94th percentile

1.16x

Higher debt load relative to assets than 94% of similar nonprofits.

2023 filings • NTEE B • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

61.54x

Higher debt load relative to revenue than 99% of similar nonprofits.

2023 filings • NTEE B • $10M-$25M nonprofits • Source year 2023

Net Margin

1st percentile

-848%

Higher net margin than 1% of similar nonprofits.

2023 filings • NTEE B • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2023 filings • NTEE B • $10M-$25M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

$18,093,037

No earlier filing loaded for comparison.

Net Assets

-$2,891,306

No earlier filing loaded for comparison.

Liabilities

$20,984,343

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

$341,003

No earlier filing loaded for comparison.

Expenses

$3,232,309

No earlier filing loaded for comparison.

Net Income

-$2,891,306

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$30M$20M$10M$0-$10MAssets 2023: $18,093,037Liabilities 2023: $20,984,343Net Assets 2023: -$2,891,3062023Assets 2024: $17,557,508Liabilities 2024: $21,008,350Net Assets 2024: -$3,450,8422024

Highlighted filing

2023

Assets$18,093,037
Liabilities$20,984,343
Net Assets-$2,891,306
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2023: $341,003Expenses 2023: $3,232,309Net Income 2023: -$2,891,3062023Revenue 2024: $1,315,982Expenses 2024: $1,875,518Net Income 2024: -$559,5362024

Highlighted filing

2023

Revenue$341,003
Expenses$3,232,309
Net Income-$2,891,306
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jul 17, 2024
Return Version
2022v5.0
Gross Receipts
$341,003
Mission and Program Overview

Mission

The mission of srca holdings is to preserve the fiduciary responsibilities of shining rock classical academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$16,526,334-
Cash and Non-Interest-Bearing Accounts-$1,566,703-
Total Assets$0$18,093,037▲ $18,093,037
Liabilities
Tax Exempt Bond Liabilities-$19,327,641-
Mortgage Notes Payable Secured by Investment Property-$1,650,000-
Accounts Payable and Accrued Expenses-$6,702-
Total Liabilities$0$20,984,343▲ $20,984,343
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-2,891,306-
Total Net Assets Fund Balance$0$-2,891,306▼ $2,891,306
Total Liabilities and Net Assets / Fund Balance$0$18,093,037▲ $18,093,037

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,526,334$472,181$16,998,515
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Natalie MalisChair
Abbie WilkinsDirector
Bert NewsomeDirector
Frank LayDirector
Sandy BrantleyDirector
Shane MesserDirector
Shannon CarlockDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$276,632
Investment Income
$64,368
Other Revenue
$3
Change in Net Assets
$-2,891,306
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,232,309
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
Interest$1,017,208--$1,017,208
Depreciation Depletion$482,258--$482,258
Payments to Affiliates$150,561--$150,561
Other Expenses$6,702--$6,702
Total Functional Expenses$3,232,309$0$0$3,232,309
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
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ASeries 2022a Bond2022-08-01$19,745,000-

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

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
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Shining Rock Classical Academy
EIN
87-3229485
Address
2150 RUSS AVENUE, WAYNESVILLE, NC 28786

Signing Officer

Name
Joshua Morgan
Title
Headmaster
Signed
2024-07-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sandy Brantley
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Sharpe Patel CPA
Address
325 ARLINGTON AVE STE 630, CHARLOTTE, NC 28203
Preparer
Megan a Ridgley CPA
Phone
7044993893
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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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ReturnHeader/Filer/USAddress/AddressLine1Txt02150 RUSS AVENUE
ReturnHeader/Filer/USAddress/CityNm0WAYNESVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028786
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0844233121
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHARPE PATEL CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0325 ARLINGTON AVE STE 630
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028203
ReturnHeader/PreparerPersonGrp/PhoneNum07044993893
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MEGAN A RIDGLEY CPA
ReturnHeader/ReturnTs02024-07-18T09:07:43-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOSHUA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MORGAN
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$18,093,037
Liabilities
$20,984,343
Net assets
-$2,891,306
Revenue
$341,003
Expenses
$3,232,309
Net income
-$2,891,306
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$17.6$21.0$3.45$1.32$1.88$0.56
2023Detailed filing. Detailed filing data is available for this year.$18.1$21.0$2.89$0.34$3.23$2.89