Oak City Academy
- Assets
- $1.5m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 40
- Location
- Garner, NC
- Founding
- 11/2010
- Data as of
- 06/2022
- EIN
- 32-0287816
Organization Overview
Oak City Academy is located in Garner, NC. The organization was established in 2010. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Oak City Academy employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oak City 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 06/2022, Oak City Academy generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.9% each year . All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 24.1% 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
TO PROVIDE A CLASSICAL, CHRISTIAN EDUCATION FOR THE URBAN COMMUNITY FOR GRADES PRE-K THROUGH 12TH GRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OAK CITY ACADEMY PROVIDED EDUCATIONAL SERVICES TO THE INNER CITY YOUTH OF RALEIGH, NORTH CAROLINA. STUDENTS WERE EDUCATED THROUGH THE ACADEMY FROM PRE-KINDERGARTEN THROUGH MIDDLE SCHOOL DURING THE CURRENT YEAR. THEY LEARNED FROM A MODIFIED CLASSICAL EDUCATIONAL CURRICULUM, WHICH AIMS TO ENSURE EVERYONE IS AT OR ABOVE GRADE LEVEL IN STANDARDIZED TESTING. 202 TOTAL STUDENTS BENEFITTED FROM THE SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danny Breed Headmaster/d | OfficerTrustee | 50 | $81,750 |
Bob Touchton Director | Trustee | 1 | $0 |
Dan Radez Director | Trustee | 1 | $0 |
Leslie Logan Brown Director | Trustee | 2 | $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 | $33,823 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,823 |
| Total Program Service Revenue | $1,397,347 |
| Investment income | $0 |
| 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 | $1,431,170 |
| 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. | $84,600 |
| Compensation of current officers, directors, key employees. | $21,150 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $772,055 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $66,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,945 |
| 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 | $27,176 |
| Advertising and promotion | $3,202 |
| Office expenses | $23,238 |
| Information technology | $12,053 |
| Royalties | $0 |
| Occupancy | $142,203 |
| Travel | $111 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,475 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,342 |
| Insurance | $31,935 |
| All other expenses | $18,657 |
| Total functional expenses | $1,281,440 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $709,590 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $481,187 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $345,124 |
| Total assets | $1,535,901 |
| Accounts payable and accrued expenses | $3,146 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $317,282 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,189 |
| Total liabilities | $323,617 |
| Net assets without donor restrictions | $1,212,284 |
| 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 | $1,535,901 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Oak City Academy has recieved totaling $52,176.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $52,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $176 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashley Hall Foundation Charleston, SC | $53,552,404 | $18,962,378 |
Heathwood Hall Episcopal School Columbia, SC | $39,181,921 | $20,445,816 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
Greenville Renewable Energy Education Charter School Greenville, SC | $26,163,515 | $17,750,984 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Strong Rock Christian School Inc Locust Grove, GA | $18,179,980 | $18,285,975 |
Fellowship Christian School Inc Roswell, GA | $48,536,188 | $18,034,878 |
Dubois Integrity Academy Inc Riverdale, GA | $36,435,666 | $18,797,787 |
St Francis Day School Inc Roswell, GA | $35,555,718 | $15,564,442 |