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Nonprofiteer
← BEACON EDUCATION INC

Form 990 for tax year 2024

Filed by BEACON EDUCATION INC.

Totals

Total revenue
$2,298,589
Total expenses
$2,165,462
Contributions and grants received
$1,881,311
Grants paid
$0
Program service revenue
$77,000
Investment income
$440,411
Other revenue
-$100,133
Total assets, end of year
$31,112,521
Total liabilities, end of year
$27,564
Net assets or fund balances, end of year
$31,084,957
Program services expenses (Part IX)
$1,651,424
Management and general expenses
$497,575
Fundraising expenses
$16,463
Program service expenses (Part III)
$1,651,424

Program services were 76.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $373,447

  • 1f · All other contributions, gifts and grants

    $1,507,864

  • 2a · Program service revenue: BUS RENTAL INCOME

    total $65,000 · related or exempt $65,000

  • 2b · Program service revenue: ADMIN SERVICE FEES

    total $12,000 · related or exempt $12,000

  • 3 · Investment income

    total $440,411 · excluded $440,411

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $373,447

  • 8b · Fundraising events: direct expenses

    $141,004

  • 8c · Net income from fundraising events

    total -$141,004 · excluded -$141,004

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $36,331 · related or exempt $36,331

  • 11b · Other revenue: NC COMMUNITY FOUNDATION DIVIDEND

    total $4,540 · related or exempt $4,540

  • 11e · Other revenue, total

    $40,871

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $157,000 · program services $75,301 · management and general $81,699

  • 7 · Other salaries and wages

    total $38,104 · program services $18,276 · management and general $19,828

  • 8 · Pension plan contributions

    total $3,255 · program services $1,561 · management and general $1,694

  • 10 · Payroll taxes

    total $6,015 · program services $2,885 · management and general $3,130

  • 11b · Fees: legal

    total $2,433 · management and general $2,433

  • 11c · Fees: accounting

    total $14,490 · management and general $14,490

  • 11g · Fees: other

    total $86 · management and general $86

  • 12 · Advertising and promotion

    total $22,522 · program services $22,522

  • 13 · Office expenses

    total $29,591 · program services $6,640 · management and general $22,951

  • 14 · Information technology

    total $8,122 · program services $3,128 · management and general $4,994

  • 16 · Occupancy

    total $29,852 · management and general $29,852

  • 17 · Travel

    total $24,487 · program services $24,487

  • 19 · Conferences, conventions and meetings

    total $7,236 · program services $7,236

  • 21 · Payments to affiliates

    total $546,858 · program services $546,858

  • 22 · Depreciation, depletion and amortization

    total $148,200 · program services $148,200

  • 23 · Insurance

    total $11,914 · management and general $11,914

  • 24a · Other expenses: PROGRAMS

    total $714,559 · program services $714,559

  • 24b · Other expenses: BAD DEBT EXPENSES

    total $303,161 · management and general $303,161

  • 24c · Other expenses: SPARK ACADEMY EXPENSES

    total $70,482 · program services $70,482

  • 24d · Other expenses: MISCELLANEOUS

    total $17,798 · management and general $1,335 · fundraising $16,463

  • 24e · All other expenses

    total $9,297 · program services $9,289 · management and general $8

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $288,092 · end of year $377,663

  • 2 · Savings and temporary cash investments

    beginning of year $5,609,940 · end of year $4,746,852

  • 3 · Pledges and grants receivable

    beginning of year $1,396,516 · end of year $742,704

  • 4 · Accounts receivable

    beginning of year $27,633 · end of year $32,264

  • 7 · Other notes and loans receivable

    beginning of year $7,622,200 · end of year $7,622,200

  • 10a · Land, buildings and equipment: cost or other basis

    $7,227,808

  • 10b · Land, buildings and equipment: accumulated depreciation

    $868,674

  • 10c · Land, buildings and equipment, net

    beginning of year $6,507,334 · end of year $6,359,134

  • 11 · Investments: publicly traded securities

    beginning of year $9,076,668 · end of year $11,231,704

  • 17 · Accounts payable and accrued expenses

    beginning of year $82,326 · end of year $27,564

  • 27 · Net assets without donor restrictions

    beginning of year $30,161,619 · end of year $30,943,957

  • 28 · Net assets with donor restrictions

    beginning of year $284,438 · end of year $141,000

Mission and programs · 2024

Mission

RAISING FUNDS AND DEVELOPING PROGRAMS IN SUPPORT OF TRANSPORTATION, FACILITIES, FOOD SERVICES, ENRICHMENT, AND COLLEGE PREPAREDNESS FOR SCHOOLS WITHIN NORTH CAROLINA THAT ARE AFFILIATED WITH THE ORGANIZATION'S MISSION.

  • DEVELOPMENT AND FUNDRAISING FOR SCHOOL SUPPORT AND ENRICHMENT PROGRAMS THAT ARE ESSENTIAL TO STUDENT AND SCHOOL SUCCESS. THESE PROGRAMS INCLUDE COLLEGE COUNSELING, PROFESSIONAL DEVELOPMENT FOR FACULTY, MENTORING, ATHLETICS, THE ARTS, TRANSPORTATION, FOOD SERVICES, AND FACILITIES MANAGEMENT.

    Expenses $1,651,424 · Revenue $117,871

As filed on the 2024 return.

Listed in Part VII

  • Katherine McKenzie

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Greg Uhl

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Sarah Branner

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Amanda Miars

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Waltrina Barnett

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sam Highsmith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Carey Brown

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michele Clark-Bradley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Terri Everett

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Judy Girard

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ali Mendoza

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Moroz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Walker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Holly Grange

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Todd Godbey

    CEO

    Total calculated
    $157,000
    From this org
    $157,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $157,000

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION FOR TOP MANAGEMENT OFFICIALS IS APPROVED BY THE BOARD AND IS BASED ON COMPARABILITY DATA. THE ORGANIZATION HAS NO OTHER EMPLOYEES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
13 May 2026
IRS schema version
2024v5.5
Source object
202611339349305016

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