Southeastern Academy Inc

Nonprofit profile at a glance

EIN
561712586
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Lumberton, NC, USA
Phone
9107387828
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$2,550,562
Expenses
$2,404,459
Assets
$2,139,532
Liabilities
$1,669,212

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • BRIAN GLOTZBACH (CHAIRMAN)
  • JOSH JACKSON (VICE CHAIRMA)
  • NIKKI KEATING (VICE CHAIRMA)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Southeastern academy, inc operates a charter school serving students from kindergarten through the 8th grade. The academy converted from a private school to a charter school under the authority of the North Carolina state board of education. The academy mission is to maintain high expectations and promote excellence, especially in the fields of math and science for all students, while fostering a caring and creative learning environment. The academy emphasizes the social, emotional, physical, and intellectual development of each child.

What it reported doing in 2024

The operation of a charter school under the authority of the North Carolina state board of education.

Operating model

Revenue model
Grant-funded. 95% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.3%; rating input score 94
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: $4,720.56 raised per $1 spent on fundraising; rating input score 99; 99th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.7%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.89; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.78; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 5.2% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 94.3% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Sustainability: Operating margin scored 53/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.