South Carolina Learns
- Assets
- $20.7m
- Revenue
- $35.7m
- Investments
- $0.0
- Employees
- 244
- Location
- Greenville, SC
- Founding
- 04/2017
- Data as of
- 06/2021
- EIN
- 46-0847262
Organization Overview
South Carolina Learns, operating under the name Cyber Academy Of South Carolin, is located in Greenville, SC. The organization was established in 2017. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Cyber Academy Of South Carolin employed 244 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cyber Academy Of South Carolin 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 06/2021, Cyber Academy Of South Carolin generated $35.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 32.0% each year . All expenses for the organization totaled $39.3m during the year ending 06/2021. While expenses have increased by 34.4% per year over the past 5 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CHILDREN WITHIN SOUTH CAROLINA THE OPPORTUNITY TO LEARN IN THE WAYS THAT ARE RIGHT FOR THEM. THE SCHOOL USES ONLINE SERVICES ALLOWING LEARNING TO HAPPEN AT HOME, ON THE ROAD, OR WHEREVER AN INTERNET CONNECTION IS AVAILABLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATE STUDENTS DURING THE SCHOOL YEAR JULY 1, 2020 THROUGH JUNE 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Sandifer Vice Chairperson | OfficerTrustee | 5 | $0 |
Steve Fowle Treasurer | OfficerTrustee | 5 | $0 |
Jennifer Hincapie Board Chair | OfficerTrustee | 5 | $0 |
Wayne Brazzell Member | Trustee | 5 | $0 |
Judy Stancil Member | Trustee | 5 | $0 |
Athena Grayned Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K12 Payroll | 6/29/20 | $827,895 |
K12 Management Company | 6/29/20 | $9,146,301 |
K12 Management Company | 6/29/20 | $9,146,301 |
K12 Payroll | 6/29/20 | $827,895 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,638,959 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,638,959 |
| Total Program Service Revenue | $0 |
| 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 | $35,702,373 |
| 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 | $8,151,707 |
| Pension plan accruals and contributions | $5,202,585 |
| Other employee benefits | $2,269,892 |
| Payroll taxes | $601,864 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,897 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $227,069 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $127,431 |
| 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 | $0 |
| Insurance | $93,775 |
| All other expenses | $160,237 |
| Total functional expenses | $39,260,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,314,432 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,337,385 |
| 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 | $237,454 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,849,924 |
| Total assets | $20,739,195 |
| Accounts payable and accrued expenses | $3,705,742 |
| Grants payable | $0 |
| Deferred revenue | $180,948 |
| 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 | $0 |
| Other liabilities | $21,205,813 |
| Total liabilities | $25,092,503 |
| Net assets without donor restrictions | $0 |
| 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 | -$4,353,308 |
| Total liabilities and net assets/fund balances | $20,739,195 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fair Fight Action Inc Atlanta, GA | $4,976,834 | $29,928,008 |
South Carolina Connections Academy Inc Columbia, SC | $14,632,201 | $47,709,935 |
South Carolina Learns Greenville, SC | $20,739,195 | $35,702,373 |
South Carolina Virtual Charter School West Columbia, SC | $14,646,057 | $37,851,009 |
Landmark Christian School Fairburn, GA | $28,586,929 | $25,037,540 |
Georgia Advanced Technology Ventures Inc Atlanta, GA | $206,195,666 | $20,980,407 |
North Raleigh Christian Academy Raleigh, NC | $50,620,236 | $15,888,714 |
Centennial Place Academy Inc Atlanta, GA | $7,663,078 | $14,548,051 |
Georgia School Boards Association Workers Compensation Fund Lawrenceville, GA | $82,470,003 | $15,076,432 |
Phoenix Counseling Center Mooresville, NC | $4,757,713 | $10,250,930 |
International Charter School Of Atlanta Inc Roswell, GA | $16,008,030 | $10,022,654 |
Global Service Network Inc Apex, NC | $3,942,579 | $9,338,562 |