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Bertie Educational Foundation INC FY2024 filing

Tax-deductible

Merry Hill, NC501(c)(3)EducationEIN 56-0905835Revenue $2.2M in FY2024

On file with the IRSlawrenceacademy.orgPo Box 70, 27957-0070 · Merry Hill, NCTax-exempt since Nov 1968School — 170(b)(1)(A)(ii)

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Lawrence Academy exists for the sole purpose of providing students with excellent teachers and coaches so students have the opportunities and challanges to maximize their educational experience.

501(c)(3) charity; gifts are tax-deductible.
70¢ 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
6 of 6
filings with a surplus
Average surplus $348K a year · 18% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $31K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$445K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
+10% vs prior year
Spent
$1.7M
To programs
70%
Net assets
$1.4M
By yearFY2020–FY2025
Revenue
$2.2M
FY2024▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2022$1.8M
FY2023$2.0M
FY2024$2.2M
FY2025$2.5M
Expenses
$1.7M
FY2024▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.3M
FY2022$1.4M
FY2023$1.6M
FY2024$1.7M
FY2025$1.9M
Net assets
$1.4M
FY2024▲ +45%
Tap a bar for its year
Net assets by fiscal year
FY2020$51K
FY2021$306K
FY2022$646K
FY2023$997K
FY2024$1.4M
FY2025$2.0M

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 Nov 1968.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $1.2M Management & general 27% · $458K Fundraising 4% · $62K

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.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Alissa Cale
Secretary
$0Pt VII · Sec A
Jonathan Lundy
Board Member
$0Pt VII · Sec A
Lloyd Jones
Treasurer
$0Pt VII · Sec A
Lyman Harrell
Board Member
$0Pt VII · Sec A
Brad Brown
Board Member
$0Pt VII · Sec A
Kerna Reynolds
Board Member
$0Pt VII · Sec A
See Bertie Educational Foundation 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

Provides students with excellent teachers and coaches to maximize their educational experience.

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Provided by the organization

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2 programs · $1.2M · in their own filed words · FY2023
01

Academic programs for kindergarten through 12th grade for Approximately 208 students.

$1.2Mprogram expense
02

Student activities such as athletics, cheerleading, Beta Club, student council, yearbook, PTO, library, trips, etc.

Pt IX · col B

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 · FY2024
Southern Bank FoundationFY2024$25K
Raymond James Charitable Endowment FundFY2024$6K
Total grants receivedfrom 2 funders$31K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.2M
Ln 12
Fees for servicesLn 2g$2.0M
Gifts and grantsLn 1h$203K
Investment incomeLn 3$674
Money outPt IX
$1.7M
Ln 25
Programscol B$1.2M
Managementcol C$458K
Fundraisingcol D$62K
Owns and owesPt X
$1.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$1.9M
LiabilitiesLn 26$445K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$203K
Fundraising eventsLn 1c$156K
Fees for servicesLn 2g$2.0M
Investment incomeLn 3$674
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$913K
SavingsLn 2$419K
Cash and savings togetherLn 1–2$1.3M
Land, buildings, equipmentLn 10c$546K
Total assetsLn 16$1.9M
LiabilitiesLn 26$445K
Net assetsLn 32$1.4M
OperationsPt I, VI
EmployeesI 555
VolunteersI 60
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$881K$1.3M
Land, buildings, equipmentLn 10c$509K$546K
Total assetsLn 16$1.4M$1.9M
LiabilitiesLn 26$410K$445K
Net assetsLn 32$997K$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$977K$799K$178K
Pension plan contributionsLn 8$330$330
Other employee benefitsLn 9$9K$9K
Payroll taxesLn 10$75K$75K
Accounting feesLn 11c$7K$7K
Office expensesLn 13$24K$24K
Information technologyLn 14$8K$8K
OccupancyLn 16$186K$186K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$53K$52K$710
InsuranceLn 23$32K$32K
Other expenses (24a–d)Ln 24$310K$248K$62K
All other expensesLn 24e$39K$26K$13K
Total functional expensesLn 25$1.7M$1.2M$458K$62K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.5M$1.9M$621K$2.0M 990 PDF
FY2024 Viewing $2.2M$1.7M$445K$1.4M 990 PDF
FY2023 $2.0M$1.6M$350K$997K 990 PDF
FY2022 $1.8M$1.4M$342K$646K 990 PDF
FY2021 $1.5M$1.3M$255K$306K 990 PDF
FY2020 $1.4M$1.4M$73K$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 FY2024 990 (6 parts)
Part I · Summary $2,173,551 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $189,479$202,718
I-9 Program service revenuePrior year $1,780,209$1,970,159
I-10 Investment incomePrior year $389$674
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,970,077$2,173,551
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 $851,595$1,061,610
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $768,411$667,243
I-18 Total expensesPrior year $1,620,006$1,728,853
I-19 Revenue less expensesPrior year $350,071$444,698
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $2,173,551 across 7 lines filed
Lines not itemized here account for $178,189 of total revenue; see the IRS return.
VIII-1c Fundraising events$156,358
VIII-1f All other contributions, gifts and grants$46,360
VIII-1h Total contributions, gifts and grants$202,718
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $1,791,970$1,791,970
VIII-3 Investment incomeExcluded from tax $674$674
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,970,833$2,173,551
Part IX · Statement of functional expenses $1,728,853 across 13 lines filed
IX-7 Other salaries and wagesPrograms $798,857 · Management $178,416$977,273
IX-8 Pension plan contributionsManagement $330$330
IX-9 Other employee benefitsPrograms $8,646$8,646
IX-10 Payroll taxesPrograms $75,361$75,361
IX-11c Accounting feesManagement $7,186$7,186
IX-13 Office expensesManagement $24,276$24,276
IX-14 Information technologyManagement $8,472$8,472
IX-16 OccupancyManagement $186,456$186,456
IX-20 InterestManagement $7,258$7,258
IX-22 Depreciation, depletion and amortizationPrograms $52,111 · Management $710$52,821
IX-23 InsuranceManagement $31,953$31,953
IX-24 Other expenses (24a–d)Programs $247,920 · Fundraising $61,966$309,886
IX-24e All other expensesPrograms $25,669 · Management $13,266$38,935
IX-25 Total functional expensesPrograms $1,208,564 · Management $458,323 · Fundraising $61,966$1,728,853
Part X · Balance sheet $1,889,036 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $462,874$913,223
X-2 Savings and temporary cash investmentsStart of year $418,251$418,925
X-4 Accounts receivableStart of year $14,958$10,144
X-10c Land, buildings and equipment, netStart of year $508,668$545,680
X-14 Intangible assetsStart of year $1,774$1,064
X-16 Total assetsStart of year $1,406,525$1,889,036
X-17 Accounts payable and accrued expensesStart of year $9,261$4,329
X-19 Deferred revenueStart of year $118,258$190,745
X-26 Total liabilitiesStart of year $409,650$444,781
X-27 Net assets without donor restrictionsStart of year $996,875$1,444,255
X-32 Total net assets or fund balancesStart of year $996,875$1,444,255
X-33 Total liabilities and net assetsStart of year $1,406,525$1,889,036
Part XI · Reconciliation of net assets $1,444,255 net assets at year end
XI-1 Total revenue$2,173,551
XI-2 Total expenses$1,728,853
XI-3 Revenue less expenses$444,698
XI-4 Net assets at start of year$996,875
XI-9 Other changes in net assets$2,682
XI-10 Net assets at end of year$1,444,255

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

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