Next Generation Academy INC FY2021 filing

Tax-deductible

Rutherfordton, NC501(c)(3)Since 2013EducationEIN 46-4091036

Operation of a north carolina public charter school

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$54K 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
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
3 of 5
filings with a surplus
Average surplus $117K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$54K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Liabilities
$950K
365% of total assets
Concern: liabilities are 365% of assets; over 80%.
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
$2.9M
Spent
$3.1M
To programs
72%
Net assets
−$690K
By yearFY2021–FY2025
Revenue
$2.9M
FY2021
Revenue by fiscal year
FY2021$2.9M
FY2022$5.5M
FY2023$6.2M
FY2024$6.0M
FY2025$6.9M
Expenses
$3.1M
FY2021
Expenses by fiscal year
FY2021$3.1M
FY2022$5.3M
FY2023$5.7M
FY2024$6.0M
FY2025$6.8M
Net assets
−$690K
FY2021
Net assets by fiscal year
FY2021−$690K
FY2022−$181K
FY2023$257K
FY2024$243K
FY2025$334K

From the FY2021 Form 990 (year ending June 2021) · 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 (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2018.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $2.2M Management & general 28% · $864K

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

Who runs it and what they're paid

8 people listed on the 990; $54K 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
$54,000Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Dr Samuel Misher’s $82K as CEO is at the 20th 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 · 2 named individuals · Part VII

NameFY2025FY2023FY2022FY2021
Dr Samuel Misher$81,870$82,500——
Dr Samuel W Misher——$66,000$54,000

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates students at a North Carolina public charter school.

Provided by the organization

This section is blank until Next Generation Academy INC claims this page.

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1 program service account for $2.2M of program spending, described in the organization's own filed words · FY2020.
01

Operated a public charter school in greensboro north carolina serving approximately 267 students for the fiscal year ended 6/30/21

$2.2Mprogram expense

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By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$2.9M
Ln 12
Fees for servicesLn 2g$2.4M
Gifts and grantsLn 1h$468K
Other incomeLn 4–11$68K
Money outPt IX
$3.1M
Ln 25
Programscol B$2.2M
Managementcol C$864K
Owns and owesPt X
−$690K
net assets · Ln 32
Total assetsLn 16$260K
LiabilitiesLn 26$950K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$468K
Government grantsLn 1e$466K
Fees for servicesLn 2g$2.4M
Other incomeLn 4–11$68K
Total revenueLn 12$2.9M
Assets in detailPt X, end of year
Land, buildings, equipmentLn 10c$207K
Total assetsLn 16$260K
LiabilitiesLn 26$950K
Net assetsLn 32−$690K
OperationsPt I, VI
EmployeesI 591
VolunteersI 67
Fiscal year endsHeaderJune
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
Land, buildings, equipmentLn 10c$156K$207K
Total assetsLn 16$208K$260K
LiabilitiesLn 26$719K$950K
Net assetsLn 32−$511K−$690K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$54K$54K
Other salaries and wagesLn 7$1.4M$1.2M$257K
Pension plan contributionsLn 8$1K$1K$312
Other employee benefitsLn 9$113K$89K$24K
Payroll taxesLn 10$118K$93K$25K
Legal feesLn 11b$13K$13K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$384K$252K$132K
Advertising and promotionLn 12$47K$47K
Office expensesLn 13$49K$8K$41K
Information technologyLn 14$78K$58K$19K
OccupancyLn 16$501K$342K$159K
TravelLn 17$7K$2K$5K
Conferences, conventions and meetingsLn 19$9K$7K$2K
InterestLn 20$49K$32K$17K
Depreciation, depletion and amortizationLn 22$46K$34K$11K
InsuranceLn 23$18K$18K
Other expenses (24a–d)Ln 24$151K$124K$28K
All other expensesLn 24e$14K$11K$3K
Total functional expensesLn 25$3.1M$2.2M$864K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.9M$6.8M$91K$334K 990 PDF
FY2024 $6.0M$6.0M−$13K$243K 990 PDF
FY2023 $6.2M$5.7M$437K$257K 990 PDF
FY2022 $5.5M$5.3M$250K−$181K 990 PDF
FY2021 Viewing $2.9M$3.1M−$179K−$690K 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 $2,894,979 across 6 lines filed
VIII-1e Government grants$466,403
VIII-1f All other contributions, gifts and grants$2,027
VIII-1h Total contributions, gifts and grants$468,430
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,358,763$2,358,763
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $67,786$67,786
VIII-12 Total revenueRelated to mission $2,426,549$2,894,979
Part IX · Statement of functional expenses $3,073,545 across 19 lines filed
IX-5 Pay of current officers, directors and key staffManagement $54,000$54,000
IX-7 Other salaries and wagesPrograms $1,157,042 · Management $257,285$1,414,327
IX-8 Pension plan contributionsPrograms $1,160 · Management $312$1,472
IX-9 Other employee benefitsPrograms $89,255 · Management $24,013$113,268
IX-10 Payroll taxesPrograms $92,737 · Management $24,949$117,686
IX-11b Legal feesManagement $13,380$13,380
IX-11c Accounting feesManagement $7,350$7,350
IX-11g Other fees for servicesPrograms $252,126 · Management $131,594$383,720
IX-12 Advertising and promotionManagement $47,411$47,411
IX-13 Office expensesPrograms $7,871 · Management $41,476$49,347
IX-14 Information technologyPrograms $58,304 · Management $19,435$77,739
IX-16 OccupancyPrograms $341,887 · Management $158,695$500,582
IX-17 TravelPrograms $1,766 · Management $5,300$7,066
IX-19 Conferences, conventions and meetingsPrograms $6,909 · Management $1,730$8,639
IX-20 InterestPrograms $31,731 · Management $17,086$48,817
IX-22 Depreciation, depletion and amortizationPrograms $34,404 · Management $11,468$45,872
IX-23 InsuranceManagement $18,052$18,052
IX-24 Other expenses (24a–d)Programs $123,554 · Management $27,745$151,299
IX-24e All other expensesPrograms $10,615 · Management $2,903$13,518
IX-25 Total functional expensesPrograms $2,209,361 · Management $864,184 · Fundraising $0$3,073,545
Part X · Balance sheet $260,494 assets, 11 lines filed
X-4 Accounts receivable$3,326
X-9 Prepaid expenses and deferred chargesStart of year $52,170$50,000
X-10c Land, buildings and equipment, netStart of year $155,818$207,168
X-16 Total assetsStart of year $207,988$260,494
X-17 Accounts payable and accrued expensesStart of year $25,132$132,493
X-24 Unsecured notes and loans payableStart of year $186,517$176,328
X-25 Other liabilitiesStart of year $5,401$289,096
X-26 Total liabilitiesStart of year $718,930$950,002
X-27 Net assets without donor restrictionsStart of year −$510,942−$689,508
X-32 Total net assets or fund balancesStart of year −$510,942−$689,508
X-33 Total liabilities and net assetsStart of year $207,988$260,494
Part XI · Reconciliation of net assets −$689,508 net assets at year end
XI-1 Total revenue$2,894,979
XI-2 Total expenses$3,073,545
XI-3 Revenue less expenses−$178,566
XI-4 Net assets at start of year−$510,942
XI-10 Net assets at end of year−$689,508

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

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