Revolution Academy FY2023 filing

Tax-deductible

Rutherfordton, NC501(c)(3)Since 2019EducationEIN 82-2556583Revenue $8.0M in FY2023

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.
62¢ of each $1 spent went to programs.
$130K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
62%
of spending
Worth a look: 62% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$130K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$18.9M
103% of total assets
Concern: liabilities are 103% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.0M
+32% vs prior year
Spent
$6.8M
To programs
62%
Net assets
−$577K
By yearFY2021–FY2025
Revenue
$8.0M
FY2023▲ +32%
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
$6.8M
FY2023▲ +15%
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
−$577K
FY2023▼ -298%
Tap a bar for its year
Net assets by fiscal year
FY2021−$272K
FY2022−$145K
FY2023−$577K
FY2024−$1.7M
FY2025$136K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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

62 cents of each dollar spent went to programs.

Program services 62% · $4.2M Management & general 38% · $2.6M

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; $130K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Asst Principal
$82,446Pt VII · Sec A
Principal
$47,425Pt 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.

Provided by the organization

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1 program · $4.2M · in their own filed words · FY2022
01

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

$4.2Mprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$8.0M
Ln 12
Gifts and grantsLn 1h$7.5M
Fees for servicesLn 2g$209K
Other incomeLn 4–11$199K
Money outPt IX
$6.8M
Ln 25
Programscol B$4.2M
Managementcol C$2.6M
Owns and owesPt X
−$577K
net assets · Ln 32
Cash and savingsLn 1–2$2.4M
Total assetsLn 16$18.3M
LiabilitiesLn 26$18.9M
PeoplePt VI, VII
10
listed · VII A
PaidVII A2
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.5M
Government grantsLn 1e$7.5M
Fees for servicesLn 2g$209K
Investment incomeLn 3$18K
Other incomeLn 4–11$199K
Total revenueLn 12$8.0M
Assets in detailPt X, end of year
CashLn 1$2.3M
SavingsLn 2$115K
Cash and savings togetherLn 1–2$2.4M
Land, buildings, equipmentLn 10c$15.7M
Total assetsLn 16$18.3M
LiabilitiesLn 26$18.9M
Net assetsLn 32−$577K
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 FY23End FY23
Cash and savingsLn 1–2$882K$2.4M
Land, buildings, equipmentLn 10c$15.9M$15.7M
Total assetsLn 16$17.1M$18.3M
LiabilitiesLn 26$17.2M$18.9M
Net assetsLn 32−$145K−$577K
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$2.6M$2.5M$35K$0
Pension plan contributionsLn 8$45K$45K$0$0
Other employee benefitsLn 9$261K$254K$7K$0
Payroll taxesLn 10$217K$215K$3K$0
Advertising and promotionLn 12$3K$0$3K$0
Office expensesLn 13$77K$50K$27K$0
OccupancyLn 16$67K$0$67K$0
TravelLn 17$555$555$0$0
Conferences, conventions and meetingsLn 19$19K$19K$0$0
InterestLn 20$1.6M$0$1.6M$0
Depreciation, depletion and amortizationLn 22$395K$370K$25K$0
InsuranceLn 23$28K$0$28K$0
Other expenses (24a–d)Ln 24$1.3M$614K$665K$0
All other expensesLn 24e$127K$3K$124K$0
Total functional expensesLn 25$6.8M$4.2M$2.6M$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 Viewing $8.0M$6.8M$1.2M−$577K 990 PDF
FY2022 $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 FY2023 990 (6 parts)
Part I · Summary $7,968,741 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,750,524$7,542,248
I-9 Program service revenuePrior year $166,169$208,832
I-10 Investment income$18,306
I-11 Other revenuePrior year $118,121$199,355
I-12 Total revenuePrior year $6,034,814$7,968,741
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,577,890$3,225,435
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,329,625$3,564,806
I-18 Total expensesPrior year $5,907,515$6,790,241
I-19 Revenue less expensesPrior year $127,299$1,178,500
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $7,968,741 across 7 lines filed
VIII-1e Government grants$7,504,280
VIII-1f All other contributions, gifts and grants$37,968
VIII-1h Total contributions, gifts and grants$7,542,248
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$208,832
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$18,306
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $199,355 · Unrelated business $0 · Excluded from tax $0$199,355
VIII-12 Total revenueRelated to mission $426,493 · Unrelated business $0 · Excluded from tax $0$7,968,741
Part IX · Statement of functional expenses $6,790,241 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $129,871 · Management $0 · Fundraising $0$129,871
IX-7 Other salaries and wagesPrograms $2,537,543 · Management $34,608 · Fundraising $0$2,572,151
IX-8 Pension plan contributionsPrograms $44,997 · Management $0 · Fundraising $0$44,997
IX-9 Other employee benefitsPrograms $254,139 · Management $6,782 · Fundraising $0$260,921
IX-10 Payroll taxesPrograms $214,635 · Management $2,860 · Fundraising $0$217,495
IX-12 Advertising and promotionPrograms $0 · Management $2,780 · Fundraising $0$2,780
IX-13 Office expensesPrograms $50,179 · Management $26,847 · Fundraising $0$77,026
IX-16 OccupancyPrograms $0 · Management $67,021 · Fundraising $0$67,021
IX-17 TravelPrograms $555 · Management $0 · Fundraising $0$555
IX-19 Conferences, conventions and meetingsPrograms $19,047 · Management $0 · Fundraising $0$19,047
IX-20 InterestPrograms $0 · Management $1,569,113 · Fundraising $0$1,569,113
IX-22 Depreciation, depletion and amortizationPrograms $369,537 · Management $25,411 · Fundraising $0$394,948
IX-23 InsurancePrograms $0 · Management $28,234 · Fundraising $0$28,234
IX-24 Other expenses (24a–d)Programs $614,057 · Management $665,076 · Fundraising $0$1,279,133
IX-24e All other expensesPrograms $2,717 · Management $124,232 · Fundraising $0$126,949
IX-25 Total functional expensesPrograms $4,237,277 · Management $2,552,964 · Fundraising $0$6,790,241
Part X · Balance sheet $18,344,959 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $472,535$2,263,785
X-2 Savings and temporary cash investmentsStart of year $409,362$115,267
X-4 Accounts receivableStart of year $311,032$247,310
X-9 Prepaid expenses and deferred chargesStart of year $28,515$32,329
X-10c Land, buildings and equipment, netStart of year $15,877,512$15,686,268
X-16 Total assetsStart of year $17,098,956$18,344,959
X-17 Accounts payable and accrued expensesStart of year $182,144$133,334
X-26 Total liabilitiesStart of year $17,243,964$18,922,426
X-27 Net assets without donor restrictionsStart of year −$145,008−$577,467
X-32 Total net assets or fund balancesStart of year −$145,008−$577,467
X-33 Total liabilities and net assetsStart of year $17,098,956$18,344,959
Part XI · Reconciliation of net assets −$577,467 net assets at year end
XI-1 Total revenue$7,968,741
XI-2 Total expenses$6,790,241
XI-3 Revenue less expenses$1,178,500
XI-4 Net assets at start of year−$145,008
XI-8 Prior period adjustments−$1,610,959
XI-10 Net assets at end of year−$577,467

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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