Next Generation Academy INC FY2024 filing

Tax-deductible

Rutherfordton, NC501(c)(3)Since 2013EducationEIN 46-4091036Revenue $6.0M in FY2024

On file with the IRSngagso.orgPo Box 86, 28139-0086 · Rutherfordton, NCTax-exempt since Jun 2018School — 170(b)(1)(A)(ii)

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Operation of a north carolina public charter school

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
81% of total assets
Concern: liabilities are 81% 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
$6.0M
-2% vs prior year
Spent
$6.0M
To programs
81%
Net assets
$243K
By yearFY2021–FY2025
Revenue
$6.0M
FY2024▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2021$2.9M
FY2022$5.5M
FY2023$6.2M
FY2024$6.0M
FY2025$6.9M
Expenses
$6.0M
FY2024▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2021$3.1M
FY2022$5.3M
FY2023$5.7M
FY2024$6.0M
FY2025$6.8M
Net assets
$243K
FY2024▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2021−$690K
FY2022−$181K
FY2023$257K
FY2024$243K
FY2025$334K

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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

81 cents of each dollar spent went to programs.

Program services 81% · $4.9M Management & general 19% · $1.2M

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Board Member
$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.

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Provided by the organization

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1 program · $4.9M · in their own filed words · FY2023
01

Operated a public charter school in Greensboro, North Carolina serving approximately 407 students for the fiscal year ended June 30, 2024.

$4.9Mprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$6.0M
Ln 12
Fees for servicesLn 2g$4.5M
Gifts and grantsLn 1h$1.5M
Money outPt IX
$6.0M
Ln 25
Programscol B$4.9M
Managementcol C$1.2M
Owns and owesPt X
$243K
net assets · Ln 32
Cash and savingsLn 1–2$289K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Government grantsLn 1e$1.5M
Fees for servicesLn 2g$4.5M
Total revenueLn 12$6.0M
Assets in detailPt X, end of year
CashLn 1$309K
SavingsLn 2−$20K
Cash and savings togetherLn 1–2$289K
Land, buildings, equipmentLn 10c$862K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.1M
Net assetsLn 32$243K
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 FY24End FY24
Cash and savingsLn 1–2$321K$289K
Land, buildings, equipmentLn 10c$1.6M$862K
Total assetsLn 16$2.2M$1.3M
LiabilitiesLn 26$1.9M$1.1M
Net assetsLn 32$257K$243K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$3.0M$2.5M$519K
Pension plan contributionsLn 8$16K$12K$4K
Other employee benefitsLn 9$257K$244K$13K
Payroll taxesLn 10$225K$186K$39K
Management feesLn 11a$0
Legal feesLn 11b$355$355
Accounting feesLn 11c$9K$9K
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$19K$19K
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$208K$167K$42K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$28K$28K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$792K$594K$198K
InsuranceLn 23$19K$19K
Other expenses (24a–d)Ln 24$1.5M$1.2M$284K
All other expensesLn 24e$0
Total functional expensesLn 25$6.0M$4.9M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.9M$6.8M$91K$334K 990 PDF
FY2024 Viewing $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 $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 FY2024 990 (6 parts)
Part I · Summary $6,010,958 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,523,086$1,473,619
I-9 Program service revenuePrior year $4,636,256$4,537,339
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $6,159,342$6,010,958
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,274,170$3,495,318
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,448,036$2,529,084
I-18 Total expensesPrior year $5,722,206$6,024,402
I-19 Revenue less expensesPrior year $437,136−$13,444
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,010,958 across 5 lines filed
VIII-1e Government grants$1,472,213
VIII-1f All other contributions, gifts and grants$1,406
VIII-1h Total contributions, gifts and grants$1,473,619
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)$4,537,339
VIII-12 Total revenue$6,010,958
Part IX · Statement of functional expenses $6,024,402 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $2,478,513 · Management $518,860$2,997,373
IX-8 Pension plan contributionsPrograms $11,863 · Management $4,472$16,335
IX-9 Other employee benefitsPrograms $243,961 · Management $12,544$256,505
IX-10 Payroll taxesPrograms $186,195 · Management $38,910$225,105
IX-11a Management fees$0
IX-11b Legal feesManagement $355$355
IX-11c Accounting feesManagement $8,640$8,640
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionManagement $19,059$19,059
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $166,716 · Management $41,679$208,395
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestManagement $27,733$27,733
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $593,945 · Management $197,982$791,927
IX-23 InsuranceManagement $18,915$18,915
IX-24 Other expenses (24a–d)Programs $1,169,714 · Management $284,346$1,454,060
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $4,850,907 · Management $1,173,495 · Fundraising $0$6,024,402
Part X · Balance sheet $1,313,755 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $320,573$308,879
X-2 Savings and temporary cash investments−$19,800
X-3 Pledges and grants receivable$162,601
X-10c Land, buildings and equipment, netStart of year $1,625,432$862,075
X-16 Total assetsStart of year $2,194,293$1,313,755
X-17 Accounts payable and accrued expensesStart of year $184,221$42,715
X-25 Other liabilitiesStart of year $1,682,353$989,773
X-26 Total liabilitiesStart of year $1,937,671$1,070,577
X-27 Net assets without donor restrictionsStart of year $256,622$243,178
X-32 Total net assets or fund balancesStart of year $256,622$243,178
X-33 Total liabilities and net assetsStart of year $2,194,293$1,313,755
Part XI · Reconciliation of net assets $243,178 net assets at year end
XI-1 Total revenue$6,010,958
XI-2 Total expenses$6,024,402
XI-3 Revenue less expenses−$13,444
XI-4 Net assets at start of year$256,622
XI-10 Net assets at end of year$243,178

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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