South Carolina Calvert Academy Inc

Organization Overview

South Carolina Calvert Academy Inc is located in Columbia, SC. The organization was established in 2012. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2017, South Carolina Calvert Academy Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Carolina Calvert Academy 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 06/2017, South Carolina Calvert Academy Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $1.8m during the year ending 06/2017. While expenses have increased by 11.4% per year over the past 2 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2017

Describe the Organization's Mission:

Part 3 - Line 1

THE SOUTH CAROLINA CALVERT ACADEMY COMBINES THE BEST OF TRADITION AND INNOVATION BY BLENDING THE TRUSTED CALVERT CURRICULUM, THE OVERSIGHT OF A PROFESSIONAL TEACHING TEAM, AND THE INNOVATIVE TECHNOLOGY NEEDED TO SERVE THE VIRTUAL PUBLIC SCHOOL STUDENTS OF SOUTH CAROLINA

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE SCHOOL'S AUTHORIZER, THE SOUTH CAROLINA PUBLIC CHARTER SCHOOL DISTRICT REVOKED THE CHARTER OF THE SCHOOL DURING 2017. THIS DECISION WAS BASED ON THE DISTRICT'S DETERMINATION THAT ADEQUATE PROGRESS HAS NOT BEEN MADE BY THE SCHOOL. THESE ACTIONS AND CIRCUMSTANCES RAISED SUBSTANTIAL DOUBT ABOUT THE SCHOOL'S ABILITY TO CONTINUE AS A GOING CONCERN. THE APPEALS PROCESS RESULTED IN A NEGOTIATED SETTLEMENT BETWEEN THE SCHOOL AND THE SOUTH CAROLINA PUBLIC CHARTER SCHOOL DISTRICT WHICH ALLOWED THE SCHOOL TO COMPLETE AND CLOSE-OUT ITS OPERATIONS BY OCTOBER 31, 2017. AS SUCH, ALL FIXED ASSETS ARE CONSIDERED TO BE IMPAIRED AS OF JUNE 30, 2017. AS PART OF THE SETTLEMENT PROCESS RELATED TO CLOSING, ALL OBLIGATIONS OF THE SCHOOL (ACCOUNTS PAYABLE AND ACCRUED EXPENSES) WERE PAID SUBSEQUENT TO YEAR END AND ALL RECEIVABLES WERE COLLECTED.


THE SCHOOL'S AUTHORIZER, THE SOUTH CAROLINA PUBLIC CHARTER SCHOOL DISTRICT REVOKED THE CHARTER OF THE SCHOOL DURING 2017. THIS DECISION WAS BASED ON THE DISTRICT'S DETERMINATION THAT ADEQUATE PROGRESS HAS NOT BEEN MADE BY THE SCHOOL. THESE ACTIONS AND CIRCUMSTANCES RAISED SUBSTANTIAL DOUBT ABOUT THE SCHOOL'S ABILITY TO CONTINUE AS A GOING CONCERN. THE APPEALS PROCESS RESULTED IN A NEGOTIATED SETTLEMENT BETWEEN THE SCHOOL AND THE SOUTH CAROLINA PUBLIC CHARTER SCHOOL DISTRICT WHICH ALLOWED THE SCHOOL TO COMPLETE AND CLOSE-OUT ITS OPERATIONS BY OCTOBER 31, 2017. AS SUCH, ALL FIXED ASSETS ARE CONSIDERED TO BE IMPAIRED AS OF JUNE 30, 2017. AS PART OF THE SETTLEMENT PROCESS RELATED TO CLOSING, ALL OBLIGATIONS OF THE SCHOOL (ACCOUNTS PAYABLE AND ACCRUED EXPENSES) WERE PAID SUBSEQUENT TO YEAR END AND ALL RECEIVABLES WERE COLLECTED.


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Board, Officers & Key Employees

Name (title)Compensation
Elaine Horton
Director
$0
Bonnie Kyzer
Director
$0
Pauline Sternick
President
$0
Ri'cha Ri Sancho
Vice President
$0
Stacy Gianiodis
Treasurer
$0
Joy Anderson
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,772,898
All other contributions, gifts, grants, and similar amounts not included above$3,729
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,776,627
Total Program Service Revenue$131
Investment income $0
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 $1,776,758

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