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Thunderbird Preparatory Academy INC FY2020 filing

Tax-deductible

Cornelius, NC501(c)(3)Since 2014EducationEIN 46-5055270Revenue $1.6M in FY2020

On file with the IRSlakesidecharteracademy.com17609 Old Statesville Rd, 28031-9049 · Cornelius, NCTax-exempt since Mar 2015School — 170(b)(1)(A)(ii)

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Lakeside Charter Academy, In partnership with parents, will cultivate learners through scholarship, leadership, and citizenship. Lakeside Charter Academy will provide all students with the opportunity to experience a focused and coherent curriculum through the core knowledge sequence by E.D. Hirsh. This sequence emphasizes in an academic foundation

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
4 of 6
filings with a surplus
Average deficit $64K a year · 2% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% 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
$594K
175% of total assets
Concern: liabilities are 175% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
Spent
$1.5M
To programs
100%
Net assets
−$255K
By yearFY2020–FY2025
Revenue
$1.6M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$2.7M
FY2022$2.7M
FY2023$2.8M
FY2024$3.4M
FY2025$3.1M
Expenses
$1.5M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$2.2M
FY2022$3.6M
FY2023$2.8M
FY2024$3.6M
FY2025$3.0M
Net assets
−$255K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$255K
FY2021$220K
FY2022−$658K
FY2023−$964K
FY2024$677K
FY2025$735K

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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

Is it real?

Yes. Exemption reinstated (2014-11-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Mar 2015.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.5M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Stephanie Dixon
Board Member
$0Pt VII · Sec A
Jason Guffey
Board Vice C
$0Pt VII · Sec A
Angela Hanson
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Melissa Wise
Treasurer
$0Pt VII · Sec A
See Thunderbird Preparatory 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

Educates students with a content-rich curriculum fostering scholarship, leadership, and citizenship.

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Provided by the organization

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1 program · $1.5M · in their own filed words · FY2019
01

Lakeside charter academy, is a north carolina charter school that will cultivate a highly effective leadership environment that engages, embraces and enriches children's strengths, one child at a time.

$1.5Mprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.3M
Other incomeLn 4–11$284K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.5M
Owns and owesPt X
−$255K
net assets · Ln 32
Cash and savingsLn 1–2$77K
Total assetsLn 16$339K
LiabilitiesLn 26$594K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$1.3M
Other incomeLn 4–11$284K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$77K
Cash and savings togetherLn 1–2$77K
Land, buildings, equipmentLn 10c$207K
Total assetsLn 16$339K
LiabilitiesLn 26$594K
Net assetsLn 32−$255K
OperationsPt I, VI
EmployeesI 569
VolunteersI 65
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$7K$77K
Land, buildings, equipmentLn 10c$224K$207K
Total assetsLn 16$260K$339K
LiabilitiesLn 26$623K$594K
Net assetsLn 32−$363K−$255K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
InterestLn 20$63K$63K
Depreciation, depletion and amortizationLn 22$17K$17K
Other expenses (24a–d)Ln 24$1.4M$1.4M
Total functional expensesLn 25$1.5M$1.5M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.1M$3.0M$58K$735K 990 PDF
FY2024 $3.4M$3.6M−$191K$677K 990 PDF
FY2023 $2.8M$2.8M$43K−$964K 990 PDF
FY2022 $2.7M$3.6M−$878K−$658K 990 PDF
FY2021 $2.7M$2.2M$475K$220K 990 PDF
FY2020 Viewing $1.6M$1.5M$109K−$255K 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 FY2020 990 (6 parts)
Part I · Summary $1,614,071 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $982,856$1,330,521
I-9 Program service revenuePrior year $235$0
I-10 Investment income$0
I-11 Other revenue$283,550
I-12 Total revenuePrior year $983,091$1,614,071
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,272,969$1,505,519
I-18 Total expensesPrior year $1,272,969$1,505,519
I-19 Revenue less expensesPrior year −$289,878$108,552
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,614,071 across 5 lines filed
VIII-1e Government grants$1,295,256
VIII-1f All other contributions, gifts and grants$35,265
VIII-1h Total contributions, gifts and grants$1,330,521
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $283,550$283,550
VIII-12 Total revenueRelated to mission $283,550$1,614,071
Part IX · Statement of functional expenses $1,505,519 across 3 lines filed
IX-20 InterestPrograms $63,436$63,436
IX-22 Depreciation, depletion and amortizationPrograms $16,940$16,940
IX-24 Other expenses (24a–d)Programs $1,425,143$1,425,143
IX-25 Total functional expensesPrograms $1,505,519 · Management $0 · Fundraising $0$1,505,519
Part X · Balance sheet $338,770 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $6,705$77,358
X-4 Accounts receivableStart of year $28,512$48,799
X-9 Prepaid expenses and deferred chargesStart of year $936$6,019
X-10c Land, buildings and equipment, netStart of year $223,534$206,594
X-16 Total assetsStart of year $259,687$338,770
X-24 Unsecured notes and loans payableStart of year $349,470$351,745
X-25 Other liabilitiesStart of year $273,688$241,944
X-26 Total liabilitiesStart of year $623,158$593,689
X-27 Net assets without donor restrictionsStart of year −$363,471−$254,919
X-32 Total net assets or fund balancesStart of year −$363,471−$254,919
X-33 Total liabilities and net assetsStart of year $259,687$338,770
Part XI · Reconciliation of net assets −$254,919 net assets at year end
XI-1 Total revenue$1,614,071
XI-2 Total expenses$1,505,519
XI-3 Revenue less expenses$108,552
XI-4 Net assets at start of year−$363,471
XI-10 Net assets at end of year−$254,919

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

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