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Genesis Academy INC FY2020 filing

Tax-deductible

Burnsville, NC501(c)(3)Since 2007Education EIN 26-0175731Revenue $176K in FY2020

On file with the IRS428 Georges Fork Rd, 28714-6330 · Burnsville, NCTax-exempt since Nov 2009School — 170(b)(1)(A)(ii)

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To operate a pre-school and after-school programs for all residents of the yancey county

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $25K a year · 8% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$59K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$176K
Spent
$176K
To programs
91%
Net assets
$167K
By yearFY2020–FY2025
Revenue
$176K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$176K
FY2021$274K
FY2022$333K
FY2023$376K
FY2024$331K
FY2025$321K
Expenses
$176K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$176K
FY2021$222K
FY2022$294K
FY2023$330K
FY2024$299K
FY2025$341K
Net assets
$167K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$167K
FY2021$218K
FY2022$258K
FY2023$304K
FY2024$336K
FY2025$316K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $160K Management & general 9% · $17K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Patti Garland
Secretary
$0Pt VII · Sec A
Ann Dewauld
Treasurer
$0Pt VII · Sec A
Kenny Wilson
President
$0Pt VII · Sec A
See Genesis Academy INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides pre-school and after-school programs for Yancey County residents.

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1 program · $160K · in their own filed words · FY2020
01

To provide a safe, structured learning enviroment for children of all races, creeds, and colors while showing children a lifestyle based on jesus' love for them

$160Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$176K
Ln 12
Fees for servicesLn 2g$176K
Gifts and grantsLn 1h$44
Money outPt IX
$176K
Ln 25
Programscol B$160K
Managementcol C$17K
Owns and owesPt X
$167K
net assets · Ln 32
Cash and savingsLn 1–2$50K
Total assetsLn 16$226K
LiabilitiesLn 26$59K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$44
Fees for servicesLn 2g$176K
Total revenueLn 12$176K
Assets in detailPt X, end of year
CashLn 1$50K
Cash and savings togetherLn 1–2$50K
Land, buildings, equipmentLn 10c$165K
Total assetsLn 16$226K
LiabilitiesLn 26$59K
Net assetsLn 32$167K
OperationsPt I, VI
EmployeesI 59
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$39K$50K
Land, buildings, equipmentLn 10c$183K$165K
Total assetsLn 16$236K$226K
LiabilitiesLn 26$69K$59K
Net assetsLn 32$167K$167K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$78K$64K$13K
Payroll taxesLn 10$6K$5K$1K
Accounting feesLn 11c$655$655
Other fees for servicesLn 11g$7K$7K
Advertising and promotionLn 12$651$651
Office expensesLn 13$2K$2K
OccupancyLn 16$39K$39K
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$18K$18K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$15K$15K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$176K$160K$17K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $321K$341K−$20K$316K 990 PDF
FY2024 $331K$299K$32K$336K 990 PDF
FY2023 $376K$330K$46K$304K 990 PDF
FY2022 $333K$294K$39K$258K 990 PDF
FY2021 $274K$222K$52K$218K 990 PDF
FY2020 Viewing $176K$176K$207$167K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $176,450 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,142$44
I-9 Program service revenuePrior year $205,807$176,406
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $210,949$176,450
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $128,390$83,775
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $80,710$92,468
I-18 Total expensesPrior year $209,100$176,243
I-19 Revenue less expensesPrior year $1,849$207
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $176,450 across 4 lines filed
VIII-1f All other contributions, gifts and grants$44
VIII-1h Total contributions, gifts and grants$44
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $176,406$176,406
VIII-12 Total revenueRelated to mission $176,406$176,450
Part IX · Statement of functional expenses $176,243 across 12 lines filed
IX-7 Other salaries and wagesPrograms $64,148 · Management $13,440$77,588
IX-10 Payroll taxesPrograms $5,151 · Management $1,036$6,187
IX-11c Accounting feesManagement $655$655
IX-11g Other fees for servicesPrograms $6,720$6,720
IX-12 Advertising and promotionPrograms $651$651
IX-13 Office expensesManagement $1,500$1,500
IX-16 OccupancyPrograms $38,894$38,894
IX-20 InterestPrograms $3,023$3,023
IX-22 Depreciation, depletion and amortizationPrograms $18,375$18,375
IX-23 InsurancePrograms $5,668$5,668
IX-24 Other expenses (24a–d)Programs $15,096$15,096
IX-24e All other expensesPrograms $1,886$1,886
IX-25 Total functional expensesPrograms $159,612 · Management $16,631 · Fundraising $0$176,243
Part X · Balance sheet $226,231 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $39,033$50,289
X-4 Accounts receivableStart of year $13,667$11,228
X-10c Land, buildings and equipment, netStart of year $183,082$164,714
X-16 Total assetsStart of year $235,782$226,231
X-17 Accounts payable and accrued expensesStart of year $5,022$6,324
X-26 Total liabilitiesStart of year $69,162$59,404
X-32 Total net assets or fund balancesStart of year $166,620$166,827
X-33 Total liabilities and net assetsStart of year $235,782$226,231
Part XI · Reconciliation of net assets $166,827 net assets at year end
XI-1 Total revenue$176,450
XI-2 Total expenses$176,243
XI-3 Revenue less expenses$207
XI-4 Net assets at start of year$166,620
XI-10 Net assets at end of year$166,827

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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