Fletcher Academy Inc
- Assets
- $21.0m
- Revenue
- $9.0m
- Investments
- $0.0
- Employees
- 326
- Location
- Fletcher, NC
- Founding
- 09/1986
- Data as of
- 06/2021
- EIN
- 56-1432644
Organization Overview
Fletcher Academy Inc is located in Fletcher, NC. The organization was established in 1986. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Fletcher Academy Inc employed 326 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fletcher 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 06/2021, Fletcher Academy Inc generated $9.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $8.4m during the year ending 06/2021. While expenses have increased by 0.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FLETCHER ACADEMY OPERATES A DISTINCTLY SEVENTH-DAY ADVENTIST SCHOOL; A RETIREMENT COMMUNITY; AND A FITNESS CENTER FOR THE COMMUNITY, RETIREMENT RESIDENTS, AND FOR THE ACADEMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FLETCHER ACADEMY - AN INDEPENDENT COLLEGE PREPARATORY HIGH SCHOOL, WHICH PROVIDES A DISTINCTLY SEVENTH-DAY ADVENTIST EDUCATION WHERE SPIRITUAL DEVELOPMENT IS BOLSTERED WITHACADEMIC RIGOR, WORK SKILLS, AND CHARACTER DEVELOPMENT. FLETCHER ACADEMY IS A HIGH SCHOOL LOCATED IN HENDERSON COUNTY, NORTH CAROLINA, AND IS OPEN TO STUDENTS WORLDWIDE. IT IS FUNDED PRIMARILY BY TUITION AND CONTRIBUTIONS. CAPTAIN GILMER CHRISTIAN SCHOOL IS AN ELEMENTARY PROGRAM PROVIDING YOUNG PEOPLE AN OPPORTUNITY TO RECEIVE AN EXCELLENT EDUCATION IN A CHRISTIAN ENVIROMENT. IT SERVICES STUDENTS FROM KINDERGARTEN THROUGH THE EIGHTH GRADE.
FLETCHER PARK INN - THE RETIREMENT COMMUNITY KNOWN AS FLETCHER PARK INN, ALSO LOCATED IN HENDERSON COUNTY, IS OPEN TO INDIVIDUALS WHO DESIRE RETIREMENT LIVING IN A LIFESTYLE THAT IS OFFERED ON THE FLETCHER ACADEMY CAMPUS. FLETCHER PARK INN ALSO PROVIDES AN EDUCATIONAL OPPORTUNITY IN THE SERVICE FOR THE YOUNG PEOPLE OF THE ORGANIZATION. THE INN SEEKS TO PROVIDE COMFORTABLE SURROUNDINGS AT A REASONABLE COST FOR RESIDENTS TO ENJOY LIFE OF COMPANIONSHIP AND SERVICE.
LELIA PATTERSON CENTER - THE ACTIVITY CENTER KNOWN AS LELIA PATTERSON CENTER IN OPEN TO INDIVIDUALS AND THEIR FAMILIES TO PURSUE A HEALTHY LIFESTYLE THROUGH EXERCISE, HEALTH EDUCATION, RECREATION, AND SOCIAL ACTIVITIES IN A CHRISTIAN ATMOSPHERE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Carey Ceo/president | OfficerTrustee | 40 | $99,357 |
Philip D Wilhelm Cao/principal | Officer | 40 | $71,156 |
Stephen Learned Cfo/treasurer | Officer | 1 | $68,334 |
Dale Twomley Chairman Of Board | OfficerTrustee | 1 | $0 |
Frank Costerisan Director | Trustee | 1 | $0 |
Scott Miller Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,158,393 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,002,051 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,160,444 |
| Total Program Service Revenue | $6,452,841 |
| Investment income | $33,396 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $325,291 |
| Net Gain/Loss on Asset Sales | $9,637 |
| Net Income from Fundraising Events | $2,396 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,984,005 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $478,031 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $327,000 |
| Compensation of current officers, directors, key employees. | $79,659 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,573,794 |
| Pension plan accruals and contributions | $125,252 |
| Other employee benefits | $826,377 |
| Payroll taxes | $207,544 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,384 |
| Fees for services: Other | $339,756 |
| Advertising and promotion | $71,463 |
| Office expenses | $219,407 |
| Information technology | $149,413 |
| Royalties | $0 |
| Occupancy | $1,344,302 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $921 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $931,810 |
| Insurance | $131,072 |
| All other expenses | $156,839 |
| Total functional expenses | $8,424,590 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,712,361 |
| Savings and temporary cash investments | $1,628,548 |
| Pledges and grants receivable | $487,317 |
| Accounts receivable, net | $167,236 |
| 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 | $64,846 |
| Net Land, buildings, and equipment | $14,724,425 |
| Investments—publicly traded securities | $1,733,981 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $454,326 |
| Total assets | $20,973,040 |
| Accounts payable and accrued expenses | $703,138 |
| Grants payable | $0 |
| Deferred revenue | $64,689 |
| 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 | $6,817 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,329,888 |
| Total liabilities | $16,104,532 |
| Net assets without donor restrictions | $1,893,099 |
| Net assets with donor restrictions | $2,975,409 |
| 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 | $20,973,040 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Fletcher Academy Inc has recieved totaling $595,427.
| Awarding Organization | Amount |
|---|---|
Layman Foundation Chattanooga, TN PURPOSE: OPERATING/CAPITAL | $300,000 |
Adventist Health System Sunbelt Healthcare Corporation Altamonte Springs, FL PURPOSE: General Support | $125,000 |
Fletcher Hospital Inc Hendersonville, NC PURPOSE: CONSTRUCTION | $102,000 |
Layman Foundation Chattanooga, TN PURPOSE: SCHOLARSHIP FUNDS | $56,813 |
Community Foundation Of Henderson County Inc Hendersonville, NC | | $11,197 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $417 |
Endowment Analysis
| Beg. Balance | $1,312,983 |
| Earnings | $387,153 |
| Net Contributions | $63,440 |
| Other Expense | $48,149 |
| Ending Balance | $1,715,427 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashley Hall Foundation Charleston, SC | $53,552,404 | $18,962,378 |
Heathwood Hall Episcopal School Columbia, SC | $39,181,921 | $20,445,816 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
Greenville Renewable Energy Education Charter School Greenville, SC | $26,163,515 | $17,750,984 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Strong Rock Christian School Inc Locust Grove, GA | $18,179,980 | $18,285,975 |
Fellowship Christian School Inc Roswell, GA | $48,536,188 | $18,034,878 |
Dubois Integrity Academy Inc Riverdale, GA | $36,435,666 | $18,797,787 |
St Francis Day School Inc Roswell, GA | $35,555,718 | $15,564,442 |