Revolution Academy FY2022 filing

Tax-deductible

Rutherfordton, NC501(c)(3)Since 2019EducationEIN 82-2556583Revenue $6.0M in FY2022

On file with the IRSPo Box 86, 28139-0086 · Rutherfordton, NCTax-exempt since May 2020School — 170(b)(1)(A)(ii)

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The operation of a public charter school for the education of children in the community.

501(c)(3) charity; gifts are tax-deductible.
55¢ of each $1 spent went to programs.
$153K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · 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 5
filings with a surplus
Average surplus $430K a year · 6% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
55%
of spending
Worth a look: 55% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$153K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$17.2M
101% of total assets
Concern: liabilities are 101% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 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
$6.0M
+66% vs prior year
Spent
$5.9M
To programs
55%
Net assets
−$145K
By yearFY2021–FY2025
Revenue
$6.0M
FY2022▲ +66%
Tap a bar for its year
Revenue by fiscal year
FY2021$3.6M
FY2022$6.0M
FY2023$8.0M
FY2024$8.2M
FY2025$11.2M
Expenses
$5.9M
FY2022▲ +68%
Tap a bar for its year
Expenses by fiscal year
FY2021$3.5M
FY2022$5.9M
FY2023$6.8M
FY2024$9.3M
FY2025$9.3M
Net assets
−$145K
FY2022▲ +47%
Tap a bar for its year
Net assets by fiscal year
FY2021−$272K
FY2022−$145K
FY2023−$577K
FY2024−$1.7M
FY2025$136K

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 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 May 2020.

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

Where the money goes

55 cents of each dollar spent went to programs.

Program services 55% · $3.2M Management & general 45% · $2.7M

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

9 people listed on the 990; $153K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Principal
$88,597Pt VII · Sec A
Asst Principal
$64,302Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Michele Harris’s $103K as Asst Principal is at the 3rd percentile of top reported officer pay among 3683 $10–100M 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

NameFY2025FY2024FY2023FY2022FY2021
Michele Harris$102,513$92,358$82,446$64,302—
Mary Sauer——$47,425$88,597$42,500

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Operates a public charter school educating local children.

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1 program · $3.2M · in their own filed words · FY2021
01

Operation of a public charter school for the education of children in the community.

$3.2Mprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$6.0M
Ln 12
Gifts and grantsLn 1h$5.8M
Fees for servicesLn 2g$166K
Other incomeLn 4–11$118K
Money outPt IX
$5.9M
Ln 25
Programscol B$3.2M
Managementcol C$2.7M
Owns and owesPt X
−$145K
net assets · Ln 32
Cash and savingsLn 1–2$882K
Total assetsLn 16$17.1M
LiabilitiesLn 26$17.2M
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.8M
Government grantsLn 1e$5.7M
Fees for servicesLn 2g$166K
Other incomeLn 4–11$118K
Total revenueLn 12$6.0M
Assets in detailPt X, end of year
CashLn 1$473K
SavingsLn 2$409K
Cash and savings togetherLn 1–2$882K
Land, buildings, equipmentLn 10c$15.9M
Total assetsLn 16$17.1M
LiabilitiesLn 26$17.2M
Net assetsLn 32−$145K
OperationsPt I, VI
EmployeesI 50
VolunteersI 6100
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$3.1M$882K
Land, buildings, equipmentLn 10c$15.2M$15.9M
Total assetsLn 16$19.2M$17.1M
LiabilitiesLn 26$19.5M$17.2M
Net assetsLn 32−$272K−$145K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$130K$130K$0$0
Other salaries and wagesLn 7$2.0M$2.0M$7K$0
Pension plan contributionsLn 8$30K$30K$0$0
Other employee benefitsLn 9$195K$194K$1K$0
Payroll taxesLn 10$176K$176K$549$0
Legal feesLn 11b$13K$0$13K$0
Accounting feesLn 11c$8K$0$8K$0
Advertising and promotionLn 12$3K$0$3K$0
Office expensesLn 13$50K$29K$21K$0
Information technologyLn 14$38K$38K$0$0
OccupancyLn 16$64K$0$64K$0
Conferences, conventions and meetingsLn 19$22K$22K$0$0
InterestLn 20$1.5M$0$1.5M$0
Depreciation, depletion and amortizationLn 22$547K$21K$527K$0
InsuranceLn 23$20K$0$20K$0
Other expenses (24a–d)Ln 24$691K$512K$179K$0
All other expensesLn 24e$326K$40K$286K$0
Total functional expensesLn 25$5.9M$3.2M$2.7M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $11.2M$9.3M$1.8M$136K 990 PDF
FY2024 $8.2M$9.3M−$1.1M−$1.7M 990 PDF
FY2023 $8.0M$6.8M$1.2M−$577K 990 PDF
FY2022 Viewing $6.0M$5.9M$127K−$145K 990 PDF
FY2021 $3.6M$3.5M$129K−$272K 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 FY2022 990 (6 parts)
Part I · Summary $6,034,814 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,337,457$5,750,524
I-9 Program service revenuePrior year $65,321$166,169
I-10 Investment income$0
I-11 Other revenuePrior year $240,202$118,121
I-12 Total revenuePrior year $3,642,980$6,034,814
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,589,472$2,577,890
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,924,560$3,329,625
I-18 Total expensesPrior year $3,514,032$5,907,515
I-19 Revenue less expensesPrior year $128,948$127,299
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $6,034,814 across 7 lines filed
VIII-1e Government grants$5,708,398
VIII-1f All other contributions, gifts and grants$42,126
VIII-1h Total contributions, gifts and grants$5,750,524
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$166,169
VIII-6 Net rental income or lossRelated to mission $8,860$8,860
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $109,261 · Unrelated business $0 · Excluded from tax $0$109,261
VIII-12 Total revenueRelated to mission $284,290 · Unrelated business $0 · Excluded from tax $0$6,034,814
Part IX · Statement of functional expenses $5,907,515 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $129,817 · Management $0 · Fundraising $0$129,817
IX-7 Other salaries and wagesPrograms $2,040,609 · Management $6,817 · Fundraising $0$2,047,426
IX-8 Pension plan contributionsPrograms $29,580 · Management $0 · Fundraising $0$29,580
IX-9 Other employee benefitsPrograms $193,677 · Management $1,211 · Fundraising $0$194,888
IX-10 Payroll taxesPrograms $175,630 · Management $549 · Fundraising $0$176,179
IX-11b Legal feesPrograms $0 · Management $12,771 · Fundraising $0$12,771
IX-11c Accounting feesPrograms $0 · Management $8,000 · Fundraising $0$8,000
IX-12 Advertising and promotionPrograms $0 · Management $3,141 · Fundraising $0$3,141
IX-13 Office expensesPrograms $28,965 · Management $20,743 · Fundraising $0$49,708
IX-14 Information technologyPrograms $37,633 · Management $0 · Fundraising $0$37,633
IX-16 OccupancyPrograms $0 · Management $64,267 · Fundraising $0$64,267
IX-19 Conferences, conventions and meetingsPrograms $22,230 · Management $0 · Fundraising $0$22,230
IX-20 InterestPrograms $0 · Management $1,547,272 · Fundraising $0$1,547,272
IX-22 Depreciation, depletion and amortizationPrograms $20,897 · Management $526,582 · Fundraising $0$547,479
IX-23 InsurancePrograms $0 · Management $20,355 · Fundraising $0$20,355
IX-24 Other expenses (24a–d)Programs $511,609 · Management $179,379 · Fundraising $0$690,988
IX-24e All other expensesPrograms $40,141 · Management $285,640 · Fundraising $0$325,781
IX-25 Total functional expensesPrograms $3,230,788 · Management $2,676,727 · Fundraising $0$5,907,515
Part X · Balance sheet $17,098,956 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $91,503$472,535
X-2 Savings and temporary cash investmentsStart of year $3,041,091$409,362
X-4 Accounts receivableStart of year $792,017$311,032
X-9 Prepaid expenses and deferred chargesStart of year $19,006$28,515
X-10c Land, buildings and equipment, netStart of year $15,242,200$15,877,512
X-16 Total assetsStart of year $19,185,817$17,098,956
X-17 Accounts payable and accrued expensesStart of year $2,563,577$182,144
X-26 Total liabilitiesStart of year $19,458,124$17,243,964
X-27 Net assets without donor restrictionsStart of year −$1,546,048$744,953
X-28 Net assets with donor restrictionsStart of year $1,273,741−$889,961
X-32 Total net assets or fund balancesStart of year −$272,307−$145,008
X-33 Total liabilities and net assetsStart of year $19,185,817$17,098,956
Part XI · Reconciliation of net assets −$145,008 net assets at year end
XI-1 Total revenue$6,034,814
XI-2 Total expenses$5,907,515
XI-3 Revenue less expenses$127,299
XI-4 Net assets at start of year−$272,307
XI-10 Net assets at end of year−$145,008

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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