Waccamaw Park Public Charter Schools Inc
- Assets
- $2.4m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 38
- Location
- Myrtle Beach, SC
- Founding
- 05/2004
- Data as of
- 06/2021
- EIN
- 04-3690509
Organization Overview
Waccamaw Park Public Charter Schools Inc, operating under the name Bridgewater Academy, is located in Myrtle Beach, SC. The organization was established in 2004. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Bridgewater Academy employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bridgewater Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Bridgewater Academy generated $2.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $2.0m during the year ending 06/2021. While expenses have increased by 2.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL - OPERATION OF A PUBLIC CHARTER SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRIDGEWATER ACADEMY IS A TITLE ONE SCHOOL CURRENTLY, OUR SCHOOL HAS A 78% FREE AND REDUCED POPULATION OUR DEMOGRAPHIC POPULATION IS 50% WHITE, 27% AFRICAN AMERICAN, 11% HISPANIC, 3% OTHER AND 9% TWO OR MORE RACES.BRIDGEWATER'S FOCUS IS ON THE EDUCATION OF EVERY CHILD BASED ON HIS/HER NEEDS WE OFFER MORNING AND AFTERNOON TUTORING AND 100% OF OUR CLASSROOMS HAVE SMART BOARDS EVERY STUDENT HAS TECHNOLOGY TRAINING/CLASSES AT LEAST TWO TIMES A WEEK AND OUR MIDDLE SCHOOLERS HAVE COMPUTER CLASSES EVERY DAY OUR STUDENTS ARE INVOLVED IN VARIOUS CLUBS, ARE INVOLVED IN NUMEROUS COMMUNITY PROGRAMS, PARTICIPATE IN SCIENCE FAIR, ART SHOW, ETC WE ALSO HAVE CLASSES FOR GIFTED AND TALENTED AS WELL AS RESOURCE CLASSES FOR THOSE WHO NEED EXTRA HELP OUR BETA CLUB HAS RECEIVED NUMEROUS STATE AND NATIONAL RECOGNITION WE HAD SIX STUDENTS THAT RECEIVED 1ST-3RD PLACE IN THE STATE CONVENTION THE CITY OF MYRTLE BEACH MAYOR SIGNED A PROCLAMATION ANNOUNCING BETA WEEK IN HONOR OF THE MANY ACCOMPLISHMENTS OF OUR BETA CLUB 1 THESE ARE JUST A FEW OF THE PROGRAMS THAT WE OFFER OUR STUDENTS.OUR STUDENTS ARE VERY INVOLVED IN COMMUNITY WE HAVE INTERACTIVE PARENTING NIGHT FOR TITLE ONE AND PARENTING NIGHTS AND SC READY AND PASS TESTING BRIDGEWATER PARTICIPATES IN RED RIBBON WEEK, PASTA FOR PENNIES FOR LEUKEMIA, AND JUMP ROPE FOR HEART OTHER ACTIVITIES ARE BINGO FOR BOOKS, COLOR RUN, DR SEUSS'S BIRTHDAY WHERE LOCAL "CELEBRITIES" ARE INVITED, AND TRADITIONS AROUND THE WORLD TO NAME A FEW MORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Wilson Principal | Officer | 40 | $77,670 |
Brandy Johnson Board Member | OfficerTrustee | 0.5 | $0 |
Steven Lastauskas Treasurer | OfficerTrustee | 2 | $0 |
Tom Cecala Member/chair | OfficerTrustee | 0.5 | $0 |
Judith Edwards Board Member | Trustee | 0.5 | $0 |
Travis Formyduval Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,152,247 |
| All other contributions, gifts, grants, and similar amounts not included above | $200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,152,447 |
| Total Program Service Revenue | $22,461 |
| Investment income | $327 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,175,235 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $77,670 |
| Compensation of current officers, directors, key employees. | $77,670 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $845,633 |
| Pension plan accruals and contributions | $185,006 |
| Other employee benefits | $114,958 |
| Payroll taxes | $68,646 |
| Fees for services: Management | $28,278 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,749 |
| Advertising and promotion | $4,667 |
| Office expenses | $16,561 |
| Information technology | $13,820 |
| Royalties | $0 |
| Occupancy | $209,043 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $71,840 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $126,601 |
| Insurance | $8,760 |
| All other expenses | $15,269 |
| Total functional expenses | $1,990,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $883,607 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $145,152 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,031 |
| Net Land, buildings, and equipment | $1,343,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,375,428 |
| Accounts payable and accrued expenses | $276,180 |
| Grants payable | $0 |
| Deferred revenue | $240,229 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,315,268 |
| Unsecured mortgages and notes payable | $204,192 |
| Other liabilities | $275 |
| Total liabilities | $2,036,144 |
| Net assets without donor restrictions | $339,284 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,375,428 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
James Island Charter High School Charleston, SC | $22,889,433 | $20,877,381 |
Legacy Early College Greenville, SC | $11,865,335 | $23,115,805 |
Pine Lake Preparatory Inc Mooresville, NC | $43,880,592 | $18,139,159 |
Uwharrie Green School Inc Asheboro, NC | $37,750,042 | $15,359,750 |
Bradford Preparatory School Charlotte, NC | $43,531,972 | $16,692,910 |
Triangle Charter Education Association Inc Cary, NC | $23,775,884 | $15,148,719 |
Invest Collegiate Imagine Inc Asheville, NC | $38,770,080 | $14,359,175 |
Henderson Collegiate Henderson, NC | $34,215,458 | $16,220,503 |
Coastal Plains Education Center Inc Metter, GA | $21,944,449 | $17,839,473 |
Mountain Island Charter School Inc Mount Holly, NC | $10,307,817 | $15,645,892 |
High Point Academy Inc Spartanburg, SC | $32,871,458 | $16,108,414 |
Wesley International Academy Inc Atlanta, GA | $9,201,005 | $14,194,787 |