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← THE FLETCHER ACADEMY SCHOOL OF ACHIEVEMENT INC

Form 990 for tax year 2022

Filed by THE FLETCHER ACADEMY SCHOOL OF ACHIEVEMENT INC.

Totals

Total revenue
$4,661,308
Total expenses
$4,615,903
Contributions and grants received
$602,929
Grants paid
$0
Program service revenue
$4,002,680
Investment income
$0
Other revenue
$55,699
Total assets, end of year
$9,461,884
Total liabilities, end of year
$415,897
Net assets or fund balances, end of year
$9,045,987
Program services expenses (Part IX)
$4,413,919
Management and general expenses
$201,984
Fundraising expenses
$0
Program service expenses (Part III)
$4,413,919

Program services were 95.6% 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.

  • 1d · Related organizations

    $600,000

  • 1f · All other contributions, gifts and grants

    $2,929

  • 2a · Program service revenue: TUITION

    total $3,967,796 · related or exempt $3,967,796

  • 2b · Program service revenue: SUPPORT PROGRAMS

    total $23,364 · related or exempt $23,364

  • 2c · Program service revenue: PAYMENT PLAN SERVICE C

    total $11,520 · related or exempt $11,520

  • 6a · Gross rents

    real property $58,845

  • 6b · Less rental expenses

    real property $3,146

  • 6c · Rental income or loss

    real property $55,699

  • 6d · Net rental income or loss

    total $55,699 · excluded $55,699

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $260,653 · program services $252,833 · management and general $7,820

  • 7 · Other salaries and wages

    total $2,736,795 · program services $2,654,691 · management and general $82,104

  • 8 · Pension plan contributions

    total $85,793 · program services $83,220 · management and general $2,573

  • 9 · Other employee benefits

    total $247,928 · program services $240,490 · management and general $7,438

  • 10 · Payroll taxes

    total $216,743 · program services $210,241 · management and general $6,502

  • 11c · Fees: accounting

    total $12,475 · program services $9,980 · management and general $2,495

  • 11g · Fees: other

    total $24,173 · program services $21,756 · management and general $2,417

  • 12 · Advertising and promotion

    total $15,457 · program services $13,911 · management and general $1,546

  • 13 · Office expenses

    total $34,677 · program services $23,006 · management and general $11,671

  • 14 · Information technology

    total $77,502 · program services $69,752 · management and general $7,750

  • 16 · Occupancy

    total $117,749 · program services $105,974 · management and general $11,775

  • 22 · Depreciation, depletion and amortization

    total $374,140 · program services $336,726 · management and general $37,414

  • 23 · Insurance

    total $42,884 · program services $38,596 · management and general $4,288

  • 24a · Other expenses: INSTRUCTIONAL SUPPLIES

    total $92,015 · program services $92,015

  • 24b · Other expenses: GROUNDS MAINTENANCE

    total $74,728 · program services $67,255 · management and general $7,473

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $59,430 · program services $53,487 · management and general $5,943

  • 24d · Other expenses: JANITORIAL SERVICES & S

    total $59,327 · program services $57,547 · management and general $1,780

  • 24e · All other expenses

    total $83,434 · program services $82,439 · management and general $995

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $536,813 · end of year $935,360

  • 4 · Accounts receivable

    beginning of year $4,386 · end of year $8,752

  • 9 · Prepaid expenses and deferred charges

    beginning of year $55,269 · end of year $28,264

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

    $11,139,889

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

    $2,830,427

  • 10c · Land, buildings and equipment, net

    beginning of year $8,563,475 · end of year $8,309,462

  • 15 · Other assets

    beginning of year $180,517 · end of year $180,046

  • 17 · Accounts payable and accrued expenses

    beginning of year $219,453 · end of year $265,662

  • 19 · Deferred revenue

    beginning of year $120,425 · end of year $150,235

  • 27 · Net assets without donor restrictions

    beginning of year $9,000,582 · end of year $9,045,987

Mission and programs · 2022

Mission

FLETCHER ACADEMY SEEKS TO PROVIDE REAL AND EFFECTIVE RESULTS FOR THEIR STUDENTS AND FAMILIES; PROVIDE THE BEST TEACHERS, CURRICULUM, AND PROGRAMS FOR CHILDREN WITH LEARNING DIFFERENCES; MAINTAIN STAFF EXCELLENCE THROUGH QUALITY RESOURCES AND PROFESSIONAL DEVELOPMENT.

Activities or mission (Part I)

EDUCATIONAL

  • THE SCHOOL SERVES APPROX. 207 STUDENTS IDENTIFIED AS LEARNING DISABLED IN GRADES 2-12 THAT ARE IN NEED OF IMPROVING BASIC ACADEMIC SKILLS, SELF-CONCEPT AND MOTIVATION. THE FOCUS IS TO INCREASE ACADEMIC SUCCESS ON THEIR CURRENT LEVEL OF PERFORMANCE.

    Expenses $4,413,919 · Revenue $4,002,680

As filed on the 2022 return.

Listed in Part VII

  • Barbara L Goodmon

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • James F Goodmon Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • James F Goodmon

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Michael D Hill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael J Goodmon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Daniel P McGrath

    VP/TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Paul Atkinson

    VP/ASST. SECRETARY/HEAD OF

    Total calculated
    $260,653
    From this org
    $229,250
    From related orgs
    $0
    Other
    $31,403
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $29,250
    Other
    $0
    Deferred
    $11,387
    Nontaxable benefits
    $20,016
    Filer's total
    $260,653

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

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.

  • AJ FLETCHER FOUNDATION

    501(C)(3) · SUPPORTING ORGANIZATION · NC · controlled entity

    Directly controlled by THE FLETCHER ACADEMY SCHOOL OF ACHIEVEMENT INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • BRIGGS BUILDING RESTORATION LLC

    INVESTMENT · RENTAL REAL ESTATE · NC · 79% owned · share of income $20,026 · share of assets $1,442,744

    Directly controlled by AJ FLETCHER FOUNDATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CAPITOL HOLDING COMPANY INC

    C · HOLDING COMPANY · NC · 84.5% owned · share of income $17,159,793 · share of assets $534,247,517

Provenance

Return type
form_990
Tax year
2022
Filed
17 April 2024
IRS schema version
2022v5.0
Source object
202431099349300203

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