E-Polk FY2021 filing

Tax-deductible

Columbus, NC501(c)(3)EducationEIN 30-0156436

Pangaea mission: to deliver affordable, reliable connectivity services to the region. These services will accelerate economic development and improve quality of life while expanding access into underserved areas.

501(c)(3) charity; gifts are tax-deductible.
48¢ of each $1 spent went to programs.
$149K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $350K a year · 18% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
48%
of spending
Concern: 48% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$149K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $45K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$443K
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+21% vs prior year
Spent
$1.5M
To programs
48%
Net assets
$1.5M
By yearFY2020–FY2024
Revenue
$1.5M
FY2021▲ +21%
Revenue by fiscal year
FY2020$1.3M
FY2021$1.5M
FY2022$1.7M
FY2023$2.9M
FY2024$2.6M
Expenses
$1.5M
FY2021▲ +14%
Expenses by fiscal year
FY2020$1.3M
FY2021$1.5M
FY2022$1.6M
FY2023$1.6M
FY2024$2.2M
Net assets
$1.5M
FY2021▲ +5%
Net assets by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2022$1.5M
FY2023$2.8M
FY2024$3.1M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2003.

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

Where the money goes

48 cents of each dollar spent went to programs.

Program services 48% · $706K Management & general 52% · $755K

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

Who runs it and what they're paid

7 people listed on the 990; $149K paid to officers and key staff.

Part VII, Section A · reportable compensation
Exec Director
$148,677Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Ron a Walters’s $179K as Exec Director is at the 77th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2022FY2021FY2020
Ron a Walters$179,130$154,190$148,677$143,505

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Provides affordable, reliable internet to boost economies and improve lives in underserved areas.

Provided by the organization

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1 program service account for $706K of program spending, described in the organization's own filed words · FY2021.
01

Extension and maintenance of fiber-optic cable network to ACHIEVE/MAINTAIN operating status of mission under riaa.

$706Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$45K
Grants paid · 4 grants · $95K · 2023–2024
Rutherford Regional HospitalFY2024$31,502
Adventhealth PolkNC · FY2024$12,831
Rutherford Regional HospitalFY2023$37,488
St Lukes Hospital INCNC · FY2023$12,831

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Fees for servicesLn 2g$1.4M
Gifts and grantsLn 1h$146K
Other incomeLn 4–11$8K
Money outPt IX
$1.5M
Ln 25
Programscol B$706K
Managementcol C$755K
Owns and owesPt X
$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$544K
Total assetsLn 16$1.9M
LiabilitiesLn 26$443K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$146K
Government grantsLn 1e$11K
Fees for servicesLn 2g$1.4M
Investment incomeLn 3$919
Other incomeLn 4–11$8K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$228K
SavingsLn 2$316K
Cash and savings togetherLn 1–2$544K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.9M
LiabilitiesLn 26$443K
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 54
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$532K$544K
Land, buildings, equipmentLn 10c$1.1M$1.1M
Total assetsLn 16$1.9M$1.9M
LiabilitiesLn 26$492K$443K
Net assetsLn 32$1.4M$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$11K$11K
Other salaries and wagesLn 7$434K$434K
Other employee benefitsLn 9$105K$105K
Legal feesLn 11b$21K$21K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$143K$143K
Advertising and promotionLn 12$14K$14K
Information technologyLn 14$17K$17K
OccupancyLn 16$14K$14K
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$172K$170K$2K
InsuranceLn 23$49K$49K
Other expenses (24a–d)Ln 24$355K$355K
All other expensesLn 24e$122K$88K$34K
Total functional expensesLn 25$1.5M$706K$755K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.6M$2.2M$399K$3.1M 990 PDF
FY2023 $2.9M$1.6M$1.3M$2.8M 990 PDF
FY2022 $1.7M$1.6M$44K$1.5M 990 PDF
FY2021 Viewing $1.5M$1.5M$65K$1.5M 990 PDF
FY2020 $1.3M$1.3M−$17K$1.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $1,526,655 across 7 lines filed
Lines not itemized here account for $31,308 of total revenue; see the IRS return.
VIII-1e Government grants$11,271
VIII-1f All other contributions, gifts and grants$134,882
VIII-1h Total contributions, gifts and grants$146,153
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,341,829$1,341,829
VIII-3 Investment incomeRelated to mission $919$919
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $6,446$6,446
VIII-12 Total revenueRelated to mission $1,380,502 · Unrelated business $0 · Excluded from tax $0$1,526,655
Part IX · Statement of functional expenses $1,461,712 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $11,271$11,271
IX-7 Other salaries and wagesManagement $434,014$434,014
IX-9 Other employee benefitsManagement $104,889$104,889
IX-11b Legal feesManagement $21,020$21,020
IX-11c Accounting feesManagement $1,950$1,950
IX-11g Other fees for servicesManagement $143,249$143,249
IX-12 Advertising and promotionPrograms $13,631$13,631
IX-14 Information technologyPrograms $16,671$16,671
IX-16 OccupancyManagement $14,028$14,028
IX-20 InterestPrograms $3,120$3,120
IX-22 Depreciation, depletion and amortizationPrograms $170,033 · Management $1,941$171,974
IX-23 InsurancePrograms $48,642$48,642
IX-24 Other expenses (24a–d)Programs $355,124$355,124
IX-24e All other expensesPrograms $87,845 · Management $34,284$122,129
IX-25 Total functional expensesPrograms $706,337 · Management $755,375 · Fundraising $0$1,461,712
Part X · Balance sheet $1,902,633 assets, 13 lines filed
Asset lines not itemized here account for $200,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $201,308$228,102
X-2 Savings and temporary cash investmentsStart of year $330,542$315,612
X-4 Accounts receivableStart of year −$2,230$13,878
X-9 Prepaid expenses and deferred chargesStart of year $35,272$24,420
X-10c Land, buildings and equipment, netStart of year $1,121,807$1,120,621
X-16 Total assetsStart of year $1,886,699$1,902,633
X-17 Accounts payable and accrued expensesStart of year $66,511$95,717
X-19 Deferred revenueStart of year $344,934$300,047
X-25 Other liabilitiesStart of year $80,707$47,138
X-26 Total liabilitiesStart of year $492,152$442,902
X-27 Net assets without donor restrictionsStart of year $1,394,547$1,459,731
X-32 Total net assets or fund balancesStart of year $1,394,547$1,459,731
X-33 Total liabilities and net assetsStart of year $1,886,699$1,902,633
Part XI · Reconciliation of net assets $1,459,731 net assets at year end
XI-1 Total revenue$1,526,655
XI-2 Total expenses$1,461,712
XI-3 Revenue less expenses$64,943
XI-4 Net assets at start of year$1,394,547
XI-8 Prior period adjustments$241
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,459,731

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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