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Miracle Meadows School INC FY2021 filing

Hendersonville, NCUnknown exempt organizationEIN 55-0687742Revenue $3K in FY2021

On file with the IRS14 Highlander Lane · Hendersonville, NC

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Miracle Meadows School is currently closed. Property and assets are in process of liquidation and termination of organization once completed. Property sale transpired in July, 2021. Closing of corporation is being finalized.

Mission: Form 990 Part I, line 1

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 deficit $21K a year · 39% 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
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$490K
112% of total assets
Concern: liabilities are 112% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 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
$3K
Spent
$96K
To programs
0%
Net assets
−$51K
By yearFY2021–FY2022
Revenue
$3K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$3K
FY2022$106K
Expenses
$96K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$96K
FY2022$55K
Net assets
−$51K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021−$51K
FY2022$0

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

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

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $96K

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 (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Sunith Das
Secretary/Executive Director
$0Pt VII · Sec A
Ken Miller
Treasurer
$0Pt VII · Sec A
Millie Das
Director
$0Pt VII · Sec A
David Meyer
Director
$0Pt VII · Sec A
See Miracle Meadows School 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Liquidating assets and closing operations after school closure.

Questions for Miracle Meadows School INC

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Provided by the organization

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1 program · in their own filed words · FY2020
01

See above; school closed

Pt IX · col B

By the numbers

The FY2021 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$3K
Ln 12
Other incomeLn 4–11$3K
Investment incomeLn 3$1
Money outPt IX
$96K
Ln 25
Managementcol C$96K
Owns and owesPt X
−$51K
net assets · Ln 32
Cash and savingsLn 1–2$105
Total assetsLn 16$439K
LiabilitiesLn 26$490K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$1
Other incomeLn 4–11$3K
Total revenueLn 12$3K
Assets in detailPt X, end of year
CashLn 1$105
Cash and savings togetherLn 1–2$105
Land, buildings, equipmentLn 10c$439K
Total assetsLn 16$439K
LiabilitiesLn 26$490K
Net assetsLn 32−$51K
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
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 FY21End FY21
Cash and savingsLn 1–2$57$105
Land, buildings, equipmentLn 10c$443K$439K
Total assetsLn 16$444K$439K
LiabilitiesLn 26$401K$490K
Net assetsLn 32$43K−$51K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$60K$0$60K
Office expensesLn 13$2K$2K
OccupancyLn 16$13K$13K
TravelLn 17$1K$1K
InterestLn 20$20K$20K
Total functional expensesLn 25$96K$0$96K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $106K$55K$51K$0 990 PDF
FY2021 Viewing $3K$96K−$93K−$51K 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 $2,677 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $10,211$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $62$1
I-11 Other revenuePrior year $3,170$2,676
I-12 Total revenuePrior year $13,443$2,677
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $600$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $66,171$95,977
I-18 Total expensesPrior year $66,771$95,977
I-19 Revenue less expensesPrior year −$53,328−$93,300
Part VI · Governance 3 of 5 board members independent, 5 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
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
Part VIII · Statement of revenue $2,677 across 4 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $1$1
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $2,676$2,676
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,677$2,677
Part IX · Statement of functional expenses $95,977 across 5 lines filed
IX-11b Legal feesPrograms $0 · Management $60,000$60,000
IX-13 Office expensesManagement $1,586$1,586
IX-16 OccupancyManagement $13,335$13,335
IX-17 TravelManagement $1,005$1,005
IX-20 InterestManagement $20,051$20,051
IX-25 Total functional expensesPrograms $0 · Management $95,977 · Fundraising $0$95,977
Part X · Balance sheet $439,171 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $57$105
X-10c Land, buildings and equipment, netStart of year $442,867$439,066
X-16 Total assetsStart of year $443,629$439,171
X-17 Accounts payable and accrued expensesStart of year $33,026$83,219
X-26 Total liabilitiesStart of year $400,994$490,197
X-32 Total net assets or fund balancesStart of year $42,635−$51,026
X-33 Total liabilities and net assetsStart of year $443,629$439,171
Part XI · Reconciliation of net assets −$51,026 net assets at year end
XI-1 Total revenue$2,677
XI-2 Total expenses$95,977
XI-3 Revenue less expenses−$93,300
XI-4 Net assets at start of year$42,635
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments−$361
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$51,026

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

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