Pace Career Academy FY2021 filing

Allenstown, NHUnknown exempt organizationEIN 37-1645637Revenue $1.1M in FY2021

On file with the IRSpacecareeracademy.org716 Riverwood Drive · Allenstown, NH

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Pace Career Academy serves to provide education to those students who have struggled in more traditional school structures by offering a highly personalized education focused on personal development, core academics, and Career experience, leading to a high school degree.

60¢ of each $1 spent went to programs.
$138K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $5K a year · under 1% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$138K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $14K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
70% of total assets
Worth a look: liabilities are 70% of assets; over 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
Spent
$886K
To programs
60%
Net assets
$460K
By yearFY2021–FY2022
Revenue
$1.1M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$1.1M
FY2022$158K
Expenses
$886K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$886K
FY2022$335K
Net assets
$460K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$460K
FY2022$0

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Exemption reinstated (2014-11-15). Per the IRS revocation list. Latest filing on record: FY2022.

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

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $535K Management & general 40% · $351K

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

10 people listed on the 990; $138K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Di
$78,761Pt VII · Sec A
Secretary
$34,512Pt VII · Sec A
Asst Directo
$24,886Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Pace Career Academy 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 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Offers personalized education and career experience for students needing alternative paths to a high school degree.

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Provided by the organization

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1 program · $535K · in their own filed words · FY2020
01

Delivery of highly personalized education and services leading to a high school degree to students residing in the towns of pembroke, allenstown, chichester, epsom and deerfield, NH

$535Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 3 funders$14K
See all 3 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$818K
Gifts and grantsLn 1h$194K
Other incomeLn 4–11$61K
Money outPt IX
$886K
Ln 25
Programscol B$535K
Managementcol C$351K
Owns and owesPt X
$460K
net assets · Ln 32
Cash and savingsLn 1–2$53K
Total assetsLn 16$1.5M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$194K
Government grantsLn 1e$194K
Fees for servicesLn 2g$818K
Other incomeLn 4–11$61K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$53K
Cash and savings togetherLn 1–2$53K
Land, buildings, equipmentLn 10c$1.3M
Total assetsLn 16$1.5M
LiabilitiesLn 26$1.1M
Net assetsLn 32$460K
OperationsPt I, VI
EmployeesI 515
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$75K$53K
Land, buildings, equipmentLn 10c$1.4M$1.3M
Total assetsLn 16$1.6M$1.5M
LiabilitiesLn 26$1.3M$1.1M
Net assetsLn 32$256K$460K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$138K$52K$86K
Other salaries and wagesLn 7$352K$340K$12K
Other employee benefitsLn 9$80K$80K
Payroll taxesLn 10$37K$37K
Legal feesLn 11b$22K$22K
Accounting feesLn 11c$13K$13K
Advertising and promotionLn 12$3K$3K
OccupancyLn 16$15K$10K$5K
TravelLn 17$177$177
InterestLn 20$50K$50K
Depreciation, depletion and amortizationLn 22$36K$36K
InsuranceLn 23$18K$18K
Other expenses (24a–d)Ln 24$67K$67K
All other expensesLn 24e$54K$16K$38K
Total functional expensesLn 25$886K$535K$351K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $158K$335K−$178K$0 990 PDF
FY2021 Viewing $1.1M$886K$188K$460K 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 (6 parts)
Part I · Summary $1,073,428 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $147,498$194,440
I-9 Program service revenuePrior year $623,311$817,665
I-10 Investment income$0
I-11 Other revenuePrior year $24,321$61,323
I-12 Total revenuePrior year $795,130$1,073,428
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $399,875$607,500
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $297,479$278,004
I-18 Total expensesPrior year $697,354$885,504
I-19 Revenue less expensesPrior year $97,776$187,924
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,073,428 across 5 lines filed
Lines not itemized here account for $48,293 of total revenue; see the IRS return.
VIII-1e Government grants$194,440
VIII-1h Total contributions, gifts and grants$194,440
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $769,372$769,372
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $61,323$61,323
VIII-12 Total revenueRelated to mission $878,988$1,073,428
Part IX · Statement of functional expenses $885,504 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $51,824 · Management $86,335$138,159
IX-7 Other salaries and wagesPrograms $339,850 · Management $12,486$352,336
IX-9 Other employee benefitsPrograms $80,392$80,392
IX-10 Payroll taxesPrograms $36,613$36,613
IX-11b Legal feesManagement $21,784$21,784
IX-11c Accounting feesManagement $13,259$13,259
IX-12 Advertising and promotionManagement $3,461$3,461
IX-16 OccupancyPrograms $10,153 · Management $4,690$14,843
IX-17 TravelManagement $177$177
IX-20 InterestManagement $49,684$49,684
IX-22 Depreciation, depletion and amortizationManagement $35,829$35,829
IX-23 InsuranceManagement $18,078$18,078
IX-24 Other expenses (24a–d)Management $66,535$66,535
IX-24e All other expensesPrograms $16,021 · Management $38,333$54,354
IX-25 Total functional expensesPrograms $534,853 · Management $350,651 · Fundraising $0$885,504
Part X · Balance sheet $1,549,092 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $74,860$52,884
X-4 Accounts receivableStart of year $138,218$152,657
X-10c Land, buildings and equipment, netStart of year $1,362,901$1,343,551
X-16 Total assetsStart of year $1,575,979$1,549,092
X-17 Accounts payable and accrued expenses$139
X-26 Total liabilitiesStart of year $1,319,649$1,088,926
X-27 Net assets without donor restrictionsStart of year $256,330$460,166
X-32 Total net assets or fund balancesStart of year $256,330$460,166
X-33 Total liabilities and net assetsStart of year $1,575,979$1,549,092
Part XI · Reconciliation of net assets $460,166 net assets at year end
XI-1 Total revenue$1,073,428
XI-2 Total expenses$885,504
XI-3 Revenue less expenses$187,924
XI-4 Net assets at start of year$256,330
XI-8 Prior period adjustments$15,912
XI-10 Net assets at end of year$460,166

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

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