Excelsior Classical Academy - A Challenge Foundation Academy
- Assets
- $36.7m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 163
- Location
- Durham, NC
- Founding
- 05/2015
- Data as of
- 06/2022
- EIN
- 46-5038550
Organization Overview
Excelsior Classical Academy - A Challenge Foundation Academy is located in Durham, NC. The organization was established in 2015. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Excelsior Classical Academy - A Challenge Foundation Academy employed 163 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Excelsior Classical Academy - A Challenge Foundation 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, Excelsior Classical Academy - A Challenge Foundation Academy generated $11.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.9% each year . All expenses for the organization totaled $11.2m during the year ending 06/2022. While expenses have increased by 28.8% 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
THE OPERTION OF A PUBLIC CHARTER SCHOOL FOR THE EDUCATION OF CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A QUALITY EDUCATION FOR STUDENTS.
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 |
|---|---|---|---|
Vickie Tibbs Gunto Treasurer | OfficerTrustee | 1 | $0 |
Scott Sipe President | OfficerTrustee | 1 | $0 |
Monica Gainey Vice President | OfficerTrustee | 1 | $0 |
Jennifer Guy Director | Trustee | 1 | $0 |
Tia Barnes Director | Trustee | 1 | $0 |
Trayce Butler Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ice Miller Llp Legal | 6/29/22 | $115,000 |
Riggs Harrod Builders Construction | 6/29/22 | $5,993,130 |
Dtw Architects & Planners Ltd Architects | 6/29/22 | $113,150 |
Acadia Northstar Financial | 6/29/22 | $104,345 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,757,730 |
| All other contributions, gifts, grants, and similar amounts not included above | $181,984 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,939,714 |
| Total Program Service Revenue | $0 |
| Investment income | $10,974 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,432 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,053,421 |
| 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. | $157,363 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,013,923 |
| Pension plan accruals and contributions | $109,957 |
| Other employee benefits | $645,734 |
| Payroll taxes | $416,761 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $255,963 |
| Fees for services: Accounting | $22,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $49,412 |
| Information technology | $94,411 |
| Royalties | $0 |
| Occupancy | $148,212 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,484 |
| Interest | $1,797,516 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $746,071 |
| Insurance | $47,640 |
| All other expenses | $745,190 |
| Total functional expenses | $11,158,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,610,183 |
| Savings and temporary cash investments | $8,678,258 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $409,358 |
| 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 | $95,983 |
| Net Land, buildings, and equipment | $25,734,218 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $216,828 |
| Total assets | $36,744,828 |
| Accounts payable and accrued expenses | $2,484,066 |
| 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 | $32,209,477 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $34,693,543 |
| Net assets without donor restrictions | $6,285,355 |
| Net assets with donor restrictions | -$4,234,070 |
| 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 | $36,744,828 |