Hope Creek Academy Inc
- Assets
- $2.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 32
- Location
- Chapel Hill, NC
- Founding
- 01/2011
- Data as of
- 06/2023
- EIN
- 27-2670276
Organization Overview
Hope Creek Academy Inc is located in Chapel Hill, NC. The organization was established in 2011. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Hope Creek Academy Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Creek Academy 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 06/2023, Hope Creek Academy Inc generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $1.6m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A PRIVATE SCHOOL, K-12, GEARED TO CHILDREN WHO NEED STRUCTURE, CONSISTENCY, POSITIVE REINFORCEMENT, MORE MOVEMENT, REDUCED STRESS, BOTH REMEDIATION AND CHALLENGE ALONG WITH A MULTI-SENSORY WAY OF LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ARE A PRIVATE SCHOOL, K-12, GEARED TO CHILDREN WHO NEED STRUCTURE, CONSISTENCY, POSITIVE REINFORCEMENT, MORE MOVEMENT, REDUCED STRESS, BOTH REMEDIATION AND CHALLENGE ALONG WITH A MULTI-SENSORY WAY OF LEARNING. STUDENTS RECEIVE DIRECT SMALL GROUP AND/OR INDIVIDUAL INSTRUCTION IN READING, MATH, LANGUAGE ARTS, SOCIAL STUDIES, SCIENCE, ART, MUSIC AND DRAMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marion Houser Exec Director | Trustee | 40 | $74,646 |
Varnell Mcdonald-Fletcher Chair | OfficerTrustee | 2 | $0 |
Lisa Townsend Secretary | OfficerTrustee | 1 | $0 |
Frank Floyd Treasurer | OfficerTrustee | 1 | $0 |
Jackie Fultrell Board Member | Trustee | 1 | $0 |
Jim Harrison Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $953,599 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,540 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,005,139 |
| Total Program Service Revenue | $885,825 |
| Investment income | $18,776 |
| 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 | $1,909,740 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $66,143 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,061,408 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $133,913 |
| Payroll taxes | $81,201 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,487 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,996 |
| Advertising and promotion | $244 |
| Office expenses | $18,771 |
| Information technology | $23,366 |
| Royalties | $0 |
| Occupancy | $71,061 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,432 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,832 |
| Insurance | $6,025 |
| All other expenses | $0 |
| Total functional expenses | $1,571,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $427,389 |
| Savings and temporary cash investments | $248,034 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,136 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,872,963 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,750 |
| Total assets | $2,611,272 |
| Accounts payable and accrued expenses | $17 |
| Grants payable | $0 |
| Deferred revenue | $91,140 |
| 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 | $91,157 |
| Net assets without donor restrictions | $2,520,115 |
| 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 | $2,611,272 |