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Lloyd Kennedy Charter School

IRS exemption revoked

Aiken, SCUnknown exempt organizationEIN 57-1121745Revenue $842K in FY2020

On file with the IRSaikenperformingartsacademy.yolasite.comPo Box 418 · Aiken, SC

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To operate a Charter School for grades 3-8.

66¢ of each $1 spent went to programs.
$77K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$77K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.6M
126% of total assets
Concern: liabilities are 126% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$842K
Spent
$961K
To programs
66%
Net assets
−$546K

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

990 PDF Claim
IRS revoked this organization's tax-exempt status on November 15, 2023

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

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

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $634K Management & general 34% · $327K Fundraising 0% · $519

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

6 people listed on the 990; $77K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Keisha Lloyd-Kennedy
Board Designee
$77,350Pt VII · Sec A
$0Pt VII · Sec A
Brenda Lloyd
Vice President
$0Pt VII · Sec A
Salisa McTeer
Secretary/Treasurer
$0Pt VII · Sec A
Donna Knopp
Faculty Rep
$0Pt VII · Sec A
Valerie Jones
Administrative Rep
$0Pt VII · Sec A
See Lloyd Kennedy Charter School 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

Programs and updates

Educates students in grades 3-8 through a charter school program.

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Provided by the organization

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1 program · $634K · in their own filed words · FY2019
01

The LKCS collaborates with stakeholders to promote educational progress among students regardless of their academic, social, AND/OR personal difficulties by focusing on their individual learning styles and developing the life skills they will need to be successful citizens.

$634Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$842K
Ln 12
Gifts and grantsLn 1h$828K
Fees for servicesLn 2g$13K
Investment incomeLn 3$654
Money outPt IX
$961K
Ln 25
Programscol B$634K
Managementcol C$327K
Fundraisingcol D$519
Owns and owesPt X
−$546K
net assets · Ln 32
Cash and savingsLn 1–2$406K
Total assetsLn 16$2.1M
LiabilitiesLn 26$2.6M
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$828K
Government grantsLn 1e$828K
Fees for servicesLn 2g$13K
Investment incomeLn 3$654
Total revenueLn 12$842K
Assets in detailPt X, end of year
CashLn 1$406K
Cash and savings togetherLn 1–2$406K
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$139K
Total assetsLn 16$2.1M
LiabilitiesLn 26$2.6M
Net assetsLn 32−$546K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$236K$406K
Land, buildings, equipmentLn 10c$1.6M$1.5M
Total assetsLn 16$1.8M$2.1M
LiabilitiesLn 26$2.3M$2.6M
Net assetsLn 32−$426K−$546K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$77K$77K
Other salaries and wagesLn 7$407K$366K$41K
Pension plan contributionsLn 8$1K$1K
Other employee benefitsLn 9$40K$31K$9K
Payroll taxesLn 10$20K$20K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$15K$15K
Other fees for servicesLn 11g$37K$27K$10K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$24K$9K$15K
Information technologyLn 14$61K$29K$32K
OccupancyLn 16$62K$61K$1K
TravelLn 17$905$386$519
InterestLn 20$95K$95K
Depreciation, depletion and amortizationLn 22$66K$66K
InsuranceLn 23$20K$20K
Other expenses (24a–d)Ln 24$28K$23K$5K
All other expensesLn 24e$2K$1K$1K
Total functional expensesLn 25$961K$634K$327K$519

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $842K$961K−$119K−$546K 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 $841,628 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $809,877$827,676
I-9 Program service revenuePrior year $14,546$13,298
I-10 Investment incomePrior year $0$654
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $824,423$841,628
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 $528,044$545,400
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $363,836$415,603
I-18 Total expensesPrior year $891,880$961,003
I-19 Revenue less expensesPrior year −$67,457−$119,375
Part VI · Governance 5 of 6 board members independent, 5 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
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 $841,628 across 5 lines filed
VIII-1e Government grants$827,676
VIII-1h Total contributions, gifts and grants$827,676
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $13,298$13,298
VIII-3 Investment incomeExcluded from tax $654$654
VIII-12 Total revenueRelated to mission $13,298 · Unrelated business $0 · Excluded from tax $654$841,628
Part IX · Statement of functional expenses $961,003 across 18 lines filed
IX-5 Pay of current officers, directors and key staffManagement $77,350$77,350
IX-7 Other salaries and wagesPrograms $366,259 · Management $40,720$406,979
IX-8 Pension plan contributionsPrograms $1,050$1,050
IX-9 Other employee benefitsPrograms $31,407 · Management $8,976$40,383
IX-10 Payroll taxesPrograms $19,638$19,638
IX-11b Legal feesManagement $3,695$3,695
IX-11c Accounting feesManagement $15,000$15,000
IX-11g Other fees for servicesPrograms $26,884 · Management $10,329$37,213
IX-12 Advertising and promotionManagement $1,934$1,934
IX-13 Office expensesPrograms $8,614 · Management $14,891$23,505
IX-14 Information technologyPrograms $29,359 · Management $31,583$60,942
IX-16 OccupancyPrograms $61,155 · Management $1,275$62,430
IX-17 TravelManagement $386 · Fundraising $519$905
IX-20 InterestManagement $94,736$94,736
IX-22 Depreciation, depletion and amortizationPrograms $65,519$65,519
IX-23 InsuranceManagement $20,030$20,030
IX-24 Other expenses (24a–d)Programs $22,636 · Management $4,982$27,618
IX-24e All other expensesPrograms $1,052 · Management $1,024$2,076
IX-25 Total functional expensesPrograms $633,573 · Management $326,911 · Fundraising $519$961,003
Part X · Balance sheet $2,084,714 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $235,578$405,666
X-9 Prepaid expenses and deferred charges$4,950
X-10c Land, buildings and equipment, netStart of year $1,600,665$1,535,146
X-15 Other assetsStart of year $0$138,952
X-16 Total assetsStart of year $1,836,243$2,084,714
X-17 Accounts payable and accrued expensesStart of year $13,925$13,379
X-19 Deferred revenueStart of year $94,932$457,829
X-24 Unsecured notes and loans payable$111,490
X-25 Other liabilitiesStart of year $72,012$0
X-26 Total liabilitiesStart of year $2,262,606$2,630,452
X-32 Total net assets or fund balancesStart of year −$426,363−$545,738
X-33 Total liabilities and net assetsStart of year $1,836,243$2,084,714
Part XI · Reconciliation of net assets −$545,738 net assets at year end
XI-1 Total revenue$841,628
XI-2 Total expenses$961,003
XI-3 Revenue less expenses−$119,375
XI-4 Net assets at start of year−$426,363
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$545,738

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

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