Philips Academy Of North Carolina Inc
- Assets
- $4.0m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 18
- Location
- Charlotte, NC
- Founding
- 12/2006
- Data as of
- 06/2022
- EIN
- 20-3125525
Organization Overview
Philips Academy Of North Carolina Inc is located in Charlotte, NC. The organization was established in 2006. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Philips Academy Of North Carolina Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philips Academy Of North Carolina Inc 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 06/2022, Philips Academy Of North Carolina Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 12.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PHILIPS ACADEMY IS A PRIVATE NON-PROFIT SCHOOL FOR STUDENTS IN MIDDLE & HIGH SCHOOL WITH COMPLEX LANGUAGE, LEARNING AND/OR COGNITIVE DISABILITIES. OUR MISSION IS TO PROVIDE OUR STUDENTS WITH THE ACADEMIC, OCCUPATIONAL AND SOCIAL SKILLS NEEDED TO BE SELF-RELIANT, CONFIDENT AND CONTRIBUTING MEMBERS OF THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL PROVIDES A PLACE FOR STUDENTS WITH LEARNING DISABILITIES TO RECEIVE A QUALITY EDUCATION. FOURTY-SEVEN STUDENTS WERE SERVED DURING THE 2019-2020 SCHOOL YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Hofland Executive Dir. | Officer | 40 | $114,917 |
Jane Blount Secretary | OfficerTrustee | 3 | $0 |
Becky Berolatti Chairman | OfficerTrustee | 5 | $0 |
Mary Beth Townley Treasurer | OfficerTrustee | 3 | $0 |
Phil Blount Director | Trustee | 1 | $0 |
Ed Imbrogno Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,316,947 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,316,947 |
| Total Program Service Revenue | $1,068,872 |
| Investment income | $57,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,463,422 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $149,351 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $114,917 |
| Compensation of current officers, directors, key employees. | $91,934 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $797,708 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $68,185 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,459 |
| Office expenses | $8,432 |
| Information technology | $18,262 |
| Royalties | $0 |
| Occupancy | $109,208 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,167 |
| Insurance | $13,664 |
| All other expenses | $15,796 |
| Total functional expenses | $1,489,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $820,507 |
| Savings and temporary cash investments | $26,951 |
| Pledges and grants receivable | $212,000 |
| Accounts receivable, net | $5,775 |
| 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 | $8,816 |
| Net Land, buildings, and equipment | $1,315,569 |
| Investments—publicly traded securities | $1,603,662 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,993,280 |
| Accounts payable and accrued expenses | $56,358 |
| Grants payable | $0 |
| Deferred revenue | $68,400 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $124,758 |
| Net assets without donor restrictions | $2,619,503 |
| Net assets with donor restrictions | $1,249,019 |
| 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 | $3,993,280 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Philips Academy Of North Carolina Inc has recieved totaling $346,595.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $305,038 |
Bill And Sharon Allen Familyfoundation Charlotte, NC PURPOSE: SCHOOL FOR STUDENTS WITH LEARNING DISABILITIES AND AUTISM | $30,000 |
The Richards Foundation Inc Fka Roy Richards Jr Fnd For Charitable Giv Carrollton, GA PURPOSE: GENERAL OPERATIONS | $5,000 |
Piedmont Club Of Charlotte Las Vegas, NV PURPOSE: GENERAL SUPPORT | $2,300 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $2,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $326,730 |
| Earnings | -$156,035 |
| Net Contributions | $966,136 |
| Ending Balance | $1,136,831 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christ School Inc Arden, NC | $45,623,697 | $22,399,762 |
Southside Christian School Upstate Simpsonville, SC | $26,226,649 | $22,389,092 |
Foxcroft School Middleburg, VA | $142,226,453 | $10,560,576 |
St Davids School Raleigh, NC | $32,628,531 | $17,520,873 |
Randolph Macon Academy Front Royal, VA | $36,335,018 | $14,186,434 |
Webb School Bell Buckle, TN | $70,401,090 | $18,551,010 |
Chatham Hall Chatham, VA | $93,224,098 | $20,472,226 |
American Hebrew Academy Inc Greensboro, NC | $66,328,577 | $16,098,225 |
Atlanta Jewish Academy Inc Atlanta, GA | $22,350,554 | $15,415,216 |
University School Of Jackson Jackson, TN | $24,986,142 | $15,584,581 |
Covenant School Inc Charlottesville, VA | $15,174,409 | $14,464,891 |
The Felicia Penzell Weber Jewish Community High School Inc Atlanta, GA | $43,433,763 | $21,423,275 |