Cherokee County Charter School FY2021 filing

Tax-deductible

Gaffney, SC501(c)(3)Since 2017EducationEIN 84-2787892Revenue $4.4M in FY2021

On file with the IRScherokee.education3206 Cherokee Ave, 29340-3564 · Gaffney, SCTax-exempt since Feb 2020School — 170(b)(1)(A)(ii)

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Cherokee Charter academy will continuously develop the next generation of american citizens by developing creative, problem-solving minds through the education of the whole student. Our School will have a challenging learning environment with high expectations set in a creative and caring atmosphere to grow the intellectual, character, physical, social, and emotional sides of all our students.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · 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
2 of 6
filings with a surplus
Average deficit $369K a year · 6% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$12.1M
108% of total assets
Concern: liabilities are 108% 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
$4.4M
×45 vs prior year
Spent
$4.8M
To programs
76%
Net assets
−$946K
By yearFY2020–FY2025
Revenue
$4.4M
FY2021▲ ×45
Tap a bar for its year
Revenue by fiscal year
FY2020$97K
FY2021$4.4M
FY2022$6.2M
FY2023$6.1M
FY2024$8.2M
FY2025$9.8M
Expenses
$4.8M
FY2021▲ +646%
Tap a bar for its year
Expenses by fiscal year
FY2020$644K
FY2021$4.8M
FY2022$6.1M
FY2023$7.2M
FY2024$8.6M
FY2025$9.6M
Net assets
−$946K
FY2021▼ -73%
Tap a bar for its year
Net assets by fiscal year
FY2020−$547K
FY2021−$946K
FY2022−$889K
FY2023−$2.0M
FY2024−$2.4M
FY2025−$2.2M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Feb 2020.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $3.7M Management & general 24% · $1.1M

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board Chair
$0Pt VII · Sec A
Board Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
See Cherokee County 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides tuition-free public education for students in Gaffney, SC.

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1 program · $3.7M · in their own filed words · FY2020
01

The school began operations as a charter school in august 2020 and enrolled approximately 425 students in its inaugural year.

$3.7Mprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$4.4M
Ln 12
Gifts and grantsLn 1h$4.2M
Fees for servicesLn 2g$172K
Investment incomeLn 3$120
Money outPt IX
$4.8M
Ln 25
Programscol B$3.7M
Managementcol C$1.1M
Owns and owesPt X
−$946K
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$11.2M
LiabilitiesLn 26$12.1M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.2M
Government grantsLn 1e$4.2M
Fees for servicesLn 2g$172K
Investment incomeLn 3$120
Total revenueLn 12$4.4M
Assets in detailPt X, end of year
CashLn 1$1.3M
Cash and savings togetherLn 1–2$1.3M
Land, buildings, equipmentLn 10c$9.7M
Other assetsLn 15$92
Total assetsLn 16$11.2M
LiabilitiesLn 26$12.1M
Net assetsLn 32−$946K
OperationsPt I, VI
EmployeesI 587
VolunteersI 625
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$6.6M$1.3M
Land, buildings, equipmentLn 10c$1.7M$9.7M
Total assetsLn 16$11.4M$11.2M
LiabilitiesLn 26$12.0M$12.1M
Net assetsLn 32−$547K−$946K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.0M$1.8M$211K
Pension plan contributionsLn 8$33K$29K$4K
Other employee benefitsLn 9$272K$245K$27K
Payroll taxesLn 10$151K$137K$14K
Management feesLn 11a$2K$2K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$355K$355K
Other fees for servicesLn 11g$178K$128K$50K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$135K$135K
Information technologyLn 14$40K$39K$1K
OccupancyLn 16$252K$198K$54K
TravelLn 17$24K$24K
InterestLn 20$838K$838K
Depreciation, depletion and amortizationLn 22$304K$243K$61K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$183K$31K$152K
All other expensesLn 24e$17K$4K$13K
Total functional expensesLn 25$4.8M$3.7M$1.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $9.8M$9.6M$210K−$2.2M 990 PDF
FY2024 $8.2M$8.6M−$465K−$2.4M 990 PDF
FY2023 $6.1M$7.2M−$1.1M−$2.0M 990 PDF
FY2022 $6.2M$6.1M$57K−$889K 990 PDF
FY2021 Viewing $4.4M$4.8M−$399K−$946K 990 PDF
FY2020 $97K$644K−$547K−$547K 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 $4,401,090 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $96,943$4,229,369
I-9 Program service revenuePrior year $1$171,601
I-10 Investment incomePrior year $85$120
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $97,029$4,401,090
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 $0$2,440,713
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $727,961$2,359,314
I-18 Total expensesPrior year $727,961$4,800,027
I-19 Revenue less expensesPrior year −$630,932−$398,937
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $4,401,090 across 6 lines filed
VIII-1e Government grants$4,227,020
VIII-1f All other contributions, gifts and grants$2,349
VIII-1h Total contributions, gifts and grants$4,229,369
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $171,601$171,601
VIII-3 Investment incomeExcluded from tax $120$120
VIII-12 Total revenueRelated to mission $171,601 · Unrelated business $0 · Excluded from tax $120$4,401,090
Part IX · Statement of functional expenses $4,800,027 across 18 lines filed
IX-7 Other salaries and wagesPrograms $1,773,521 · Management $211,480$1,985,001
IX-8 Pension plan contributionsPrograms $28,773 · Management $3,742$32,515
IX-9 Other employee benefitsPrograms $245,406 · Management $26,823$272,229
IX-10 Payroll taxesPrograms $136,509 · Management $14,459$150,968
IX-11a Management feesManagement $1,500$1,500
IX-11b Legal feesManagement $9,656$9,656
IX-11c Accounting feesManagement $354,801$354,801
IX-11g Other fees for servicesPrograms $128,070 · Management $50,334$178,404
IX-12 Advertising and promotionManagement $5,714$5,714
IX-13 Office expensesManagement $135,312$135,312
IX-14 Information technologyPrograms $38,813 · Management $1,250$40,063
IX-16 OccupancyPrograms $197,658 · Management $54,176$251,834
IX-17 TravelManagement $24,012$24,012
IX-20 InterestPrograms $838,343$838,343
IX-22 Depreciation, depletion and amortizationPrograms $243,403 · Management $60,851$304,254
IX-23 InsuranceManagement $15,695$15,695
IX-24 Other expenses (24a–d)Programs $31,291 · Management $151,594$182,885
IX-24e All other expensesPrograms $4,064 · Management $12,777$16,841
IX-25 Total functional expensesPrograms $3,665,851 · Management $1,134,176 · Fundraising $0$4,800,027
Part X · Balance sheet $11,204,185 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $6,637,493$1,343,263
X-3 Pledges and grants receivableStart of year $33,153$134,930
X-9 Prepaid expenses and deferred chargesStart of year $51,779$26,839
X-10c Land, buildings and equipment, netStart of year $1,681,500$9,699,061
X-15 Other assetsStart of year $3,044,971$92
X-16 Total assetsStart of year $11,448,896$11,204,185
X-17 Accounts payable and accrued expensesStart of year $160,536$313,762
X-19 Deferred revenue$1,000
X-26 Total liabilitiesStart of year $11,995,536$12,149,762
X-32 Total net assets or fund balancesStart of year −$546,640−$945,577
X-33 Total liabilities and net assetsStart of year $11,448,896$11,204,185
Part XI · Reconciliation of net assets −$945,577 net assets at year end
XI-1 Total revenue$4,401,090
XI-2 Total expenses$4,800,027
XI-3 Revenue less expenses−$398,937
XI-4 Net assets at start of year−$546,640
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$945,577

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

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