Clover Garden School Inc
- Assets
- $28.3m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 104
- Location
- Burlington, NC
- Founding
- 01/2006
- Data as of
- 06/2023
- EIN
- 04-3791250
Organization Overview
Clover Garden School Inc is located in Burlington, NC. The organization was established in 2006. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 06/2023, Clover Garden School Inc employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clover Garden School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Clover Garden School Inc generated $7.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $6.9m during the year ending 06/2023. While expenses have increased by 4.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A PUBLIC CHARTER SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED AS A CHARTER SCHOOL IN BURLINGTON, NC SERVING APPROXIMATELY 675 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Foster Board Member | Trustee | 0.78 | $0 |
Cathy June Chairperson | OfficerTrustee | 3.07 | $0 |
Amy Murrel Secretary | OfficerTrustee | 0.46 | $0 |
Brandon Russell Board Member | Trustee | 1 | $0 |
Randi Russell Board Member | Trustee | 1 | $0 |
Chad Huffines Vice Chair | OfficerTrustee | 9.61 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $400,979 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,612 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $406,591 |
| Total Program Service Revenue | $6,784,372 |
| Investment income | $268,705 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,459,668 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,397,424 |
| Pension plan accruals and contributions | $290,906 |
| Other employee benefits | $470,581 |
| Payroll taxes | $254,557 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,524 |
| Fees for services: Accounting | $7,828 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,649 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $546,160 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $339,399 |
| Insurance | $40,796 |
| All other expenses | $160,414 |
| Total functional expenses | $6,888,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,301,898 |
| Savings and temporary cash investments | $5,394,131 |
| Pledges and grants receivable | $308,771 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $112,632 |
| Net Land, buildings, and equipment | $17,439,563 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,746,399 |
| Total assets | $28,303,394 |
| Accounts payable and accrued expenses | $52,383 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $19,375,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,609,041 |
| Total liabilities | $28,036,424 |
| Net assets without donor restrictions | $266,970 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $28,303,394 |