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Classical Academies Cfa Inc

Lake Lure Classical Academy Cfa

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Elementary, Secondary Education, K - 12 (B29) (NTEE)

Donations to this organization are tax deductible.

Details

According to its June 2023 tax filing, this nonprofit:

Operated a school
Organization is a school. Details are reported on Schedule E.

Summary charts: organization finances over time

Revenue
$6.73M (2023)

Expenses
$5.73M (2023)

Total Assets
$3.1M (2023)

Total Liabilities
$286k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,734,210
Expenses
$5,726,351
Net Income
$1,007,859
Net Assets
$2,810,338
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,335,729
79.2%
Program Services $16,572
0.2%
Investment Income $11,171
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $1,370,738
20.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $183,440
3.2%
Professional Fundraising Fees $0
Other Salaries and Wages $2,958,514
51.7%
Assets/Debt
Total Assets $3,096,714
Total Liabilities $286,376
Net Assets $2,810,338
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Barbara Cohen (School Director) $103,475 $0 $0
Mitchell Mc Neely (Finance Officer) $79,966 $0 $0
Jack Barton (Member) $0 $0 $0
Randy Nelson (Treasurer) $0 $0 $0
Mark Hamann (Member) $0 $0 $0
Steve Milito (Member) $0 $0 $0
Crystal Morrison (Secretary) $0 $0 $0
Kelly Bragdon (Member) $0 $0 $0
Kate Sloss (Chair) $0 $0 $0
Beth Gordon (Member) $0 $0 $0
Jackie Hampton (Member) $0 $0 $0
Joan Lange (Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,033,498
Expenses
$5,982,687
Net Income
$50,811
Net Assets
$1,802,479
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,937,821
98.4%
Program Services $10,409
0.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $85,268
1.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $158,892
2.7%
Professional Fundraising Fees $0
Other Salaries and Wages $3,128,395
52.3%
Assets/Debt
Total Assets $2,066,749
Total Liabilities $264,270
Net Assets $1,802,479
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Barbara Cohen (School Director) $93,216 $0 $0
Mitchell Mc Neely (Finance Officer) $65,676 $0 $0
Jack Barton (Member) $0 $0 $0
Randy Nelson (Treasurer) $0 $0 $0
Mark Hamann (Member) $0 $0 $0
Steve Milito (Vice Chair) $0 $0 $0
Crystal Morrison (Secretary) $0 $0 $0
Mary Kreider (Member) $0 $0 $0
Kate Sloss (Member) $0 $0 $0
Todd Morse (Chair) $0 $0 $0
Jackie Hampton (Member) $0 $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,420,854
Expenses
$5,732,308
Net Income
$688,546
Net Assets
$1,751,668
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,737,507
89.4%
Program Services $5,260
0.1%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $678,087
10.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $144,665
2.5%
Professional Fundraising Fees $0
Other Salaries and Wages $2,551,023
44.5%
Assets/Debt
Total Assets $1,845,129
Total Liabilities $93,461
Net Assets $1,751,668
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Barbara Cohen (School Director) $80,180 $0 $0
Mitchell Mc Neely (Finance Officer) $64,485 $0 $0
Jack Barton (Treasurer) $0 $0 $0
Andy Bell (Director) $0 $0 $0
Mark Hamann (Chair) $0 $0 $0
Steve Milito (Director) $0 $0 $0
Crystal Morrison (Director) $0 $0 $0
Michael Frierman (Director) $0 $0 $0
Russ Pits (Secretary) $0 $0 $0
Todd Morse (Vice Chair) $0 $0 $0
Tim Turner Ii (Director) $0 $0 $0
Randy Nelson (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,977,532
Expenses
$4,888,308
Net Income
$89,224
Net Assets
$1,063,122
Notable Sources of Revenue Percent of Total Revenue
Contributions $4,892,823
98.3%
Program Services $4,494
0.1%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $80,215
1.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $165,198
3.4%
Professional Fundraising Fees $0
Other Salaries and Wages $2,521,091
51.6%
Assets/Debt
Total Assets $1,713,689
Total Liabilities $650,567
Net Assets $1,063,122
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Thomas Keever (School Director) $100,000 $0 $0
Mitchell Mc Neely (Finance Officer) $65,198 $0 $0
Jack Barton (Treasurer) $0 $0 $0
Linda Turner (Director) $0 $0 $0
Mark Hamann (Chair) $0 $0 $0
Susan Marciano (Director) $0 $0 $0
Andy Bell (Director) $0 $0 $0
Michael Frierman (Director) $0 $0 $0
Russ Pits (Secretary) $0 $0 $0
Todd Morse (Vice Chair) $0 $0 $0
Tim Turner Ii (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,830,828
Expenses
$4,781,886
Net Income
$48,942
Net Assets
$973,898
Notable Sources of Revenue Percent of Total Revenue
Contributions $4,728,298
97.9%
Program Services $9,587
0.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $92,943
1.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $179,111
3.7%
Professional Fundraising Fees $0
Other Salaries and Wages $2,399,230
50.2%
Assets/Debt
Total Assets $1,191,717
Total Liabilities $217,819
Net Assets $973,898
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Thomas Keever (School Director) $112,383 $0 $0
Mitchell Mc Neely (Finance Officer) $66,728 $0 $0
Jack Barton (Treasurer) $0 $0 $0
Linda Turner (Chairman) $0 $0 $0
Mark Hammman (V Chair) $0 $0 $0
Susan Marciano (Director) $0 $0 $0
Andy Bell (Director) $0 $0 $0
Michael Frierman (Director) $0 $0 $0
Russ Pits (Director) $0 $0 $0
Todd Morse (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$5,176,778
Expenses
$4,494,210
Net Income
$682,568
Net Assets
$923,891
Notable Sources of Revenue Percent of Total Revenue
Contributions $4,066,772
78.6%
Program Services $8,818
0.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $1,007,123
19.5%
Net Inventory Sales $0
Other Revenue $94,065
1.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $171,208
3.8%
Professional Fundraising Fees $0
Other Salaries and Wages $1,889,888
42.1%
Assets/Debt
Total Assets $975,672
Total Liabilities $51,781
Net Assets $923,891
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Tom Keever (Executive Director) $111,000 $0 $0
Mitch Mcneely (Business Manager) $60,208 $0 $0
Jack Barton (Treasurer) $0 $0 $0
Linda Turner (Chairman) $0 $0 $0
Mark Hammman (V Chair) $0 $0 $0
Clint Calhoun (Director) $0 $0 $0
Warren Alston (Director) $0 $0 $0
Michael Frierman (Director) $0 $0 $0
Doug Kelly (Director) $0 $0 $0
Margery Sherrill (Secretary) $0 $0 $0
Carry Hatton (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,473,271
Expenses
$3,705,242
Net Income
-$231,971
Net Assets
$241,323
Notable Sources of Revenue Percent of Total Revenue
Contributions $3,404,310
98.0%
Program Services $6,952
0.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $62,009
1.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $1,898,028
51.2%
Assets/Debt
Total Assets $9,450,706
Total Liabilities $9,209,383
Net Assets $241,323
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Tim Turner Jr (Director) $0 $0 $0
Linda Turner (Chairman) $0 $0 $0
Mark Hammman (Director) $0 $0 $0
Gary Kling (Director) $0 $0 $0
Wolf Kutter (Director) $0 $0 $0
Michael Frierman (Director) $0 $0 $0
Mike Harrington (V Chair) $0 $0 $0
Margery Sherrill (Secretary) $0 $0 $0
Clint Calhoun (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$3,256,830
Expenses
$3,536,715
Net Income
-$279,885
Net Assets
$473,294
Notable Sources of Revenue Percent of Total Revenue
Contributions $3,334,933
> 100%
Program Services $2,676
0.1%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$170,889
Net Inventory Sales $0
Other Revenue $90,110
2.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $36,132
1.0%
Professional Fundraising Fees $0
Other Salaries and Wages $1,635,126
46.2%
Assets/Debt
Total Assets $9,661,289
Total Liabilities $9,187,995
Net Assets $473,294
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Preston Walker (Director/Emp) $36,132 $0 $0
Carol Pritchett (Director) $0 $0 $0
Jim Proctor (Chairman) $0 $0 $0
Chris Braund (Treasurer) $0 $0 $0
Gary Kling (Director) $0 $0 $0
Russell Pitts (Director) $0 $0 $0
Joe Maimone (Secretary) $0 $0 $0
Mike Harrington (V Chair) $0 $0 $0
Margery Sherrill (Director) $0 $0 $0
Clint Calhoun (Director) $0 $0 $0
Tim Turner Jr (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,928,005
Expenses
$3,187,512
Net Income
-$259,507
Net Assets
$753,179
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,830,902
96.7%
Program Services $0
Investment Income $871
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $96,232
3.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $1,485,436
46.6%
Assets/Debt
Total Assets $10,919,861
Total Liabilities $10,166,682
Net Assets $753,179
Other
Operated a school
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Carol Pritchett (Director) $0 $0 $0
Jim Proctor (Chairman) $0 $0 $0
Chris Braund (Treasurer) $0 $0 $0
Gary Kling (Director) $0 $0 $0
Russell Pitts (Director) $0 $0 $0
Joe Maimone (Director) $0 $0 $0
Mike Harrington (V Chair) $0 $0 $0
Julia Phillips (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,881,769
Expenses
$2,473,976
Net Income
$407,793
Net Assets
$1,025,763
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,773,471
96.2%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $108,298
3.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $1,330,517
53.8%
Assets/Debt
Total Assets $1,156,686
Total Liabilities $130,923
Net Assets $1,025,763
Other
Operated a school
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
C Phillip Byers (Director) $0 $0 $0
Jim Proctor (Chairman) $0 $0 $0
Chris Braund (Treasurer) $0 $0 $0
Melinda Morse (Secretary) $0 $0 $0
Russell Pitts (Director) $0 $0 $0
Joe Maimone (Director) $0 $0 $0
Mike Harrington (Director) $0 $0 $0
Julia Phillips (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,464,274
Expenses
$2,301,627
Net Income
$162,647
Net Assets
$617,970
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,386,055
96.8%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $78,219
3.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $12,000
0.5%
Other Salaries and Wages $1,196,138
52.0%
Assets/Debt
Total Assets $687,216
Total Liabilities $69,246
Net Assets $617,970

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,002,372
Expenses
$1,886,836
Net Income
$115,536
Net Assets
$455,323
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,928,626
96.3%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $4,740
0.2%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $69,006
3.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $944,620
50.1%
Assets/Debt
Total Assets $620,296
Total Liabilities $164,973
Net Assets $455,323

Document Links

Fiscal Year Ending June
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,785,989
Expenses
$1,446,202
Net Income
$339,787
Net Assets
$339,787
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,731,200
96.9%
Program Services $4,168
0.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $50,621
2.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $673,656
46.6%
Assets/Debt
Total Assets $585,464
Total Liabilities $245,677
Net Assets $339,787

No Document Links

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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