South Carolina Calvert Academy Inc
- Assets
- $439.0k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 20
- Location
- Columbia, SC
- Founding
- 02/2012
- Data as of
- 06/2017
- EIN
- 26-4390624
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.
Form
990
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elaine Horton Director | Trustee | 0.5 | $0 |
Bonnie Kyzer Director | Trustee | 0.5 | $0 |
Pauline Sternick President | OfficerTrustee | 0.5 | $0 |
Ri'cha Ri Sancho Vice President | OfficerTrustee | 0.5 | $0 |
Stacy Gianiodis Treasurer | OfficerTrustee | 0.5 | $0 |
Joy Anderson Secretary | OfficerTrustee | 0.5 | $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 |
| 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. | $77,250 |
| Compensation of current officers, directors, key employees. | $14,366 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $554,732 |
| Pension plan accruals and contributions | $66,225 |
| Other employee benefits | $188,317 |
| Payroll taxes | $48,346 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,564 |
| Fees for services: Accounting | $20,365 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $351 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,787,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $439,030 |
| Total assets | $439,030 |
| Accounts payable and accrued expenses | $82,398 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $104,287 |
| Other liabilities | $1,263,534 |
| Total liabilities | $1,450,219 |
| Unrestricted restricted net Assets | -$1,011,189 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$1,011,189 |