Fayetteville Academy
- Assets
- $6.1m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 156
- Location
- Fayetteville, NC
- Founding
- 10/1970
- Data as of
- 06/2022
- EIN
- 56-0944004
Organization Overview
Fayetteville Academy is located in Fayetteville, NC. The organization was established in 1970. 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, Fayetteville Academy employed 156 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fayetteville 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, Fayetteville Academy generated $6.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $6.0m during the year ending 06/2022. While expenses have increased by 3.3% 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
FAYETTEVILLE ACADEMY IS AN INDEPENDENT, COLLEGE PREPARATORY SCHOOL (PREK- 12) THAT ENCOURAGES STUDENTS TO ACHIEVE THEIR FULL POTENTIAL BY OFFERING EXCEPTIONAL OPPORTUNITIES IN ACADEMICS, FINE ARTS, AND ATHLETICS. THE ACADEMY EMPHASIZES SCHOLARSHIP, HONOR, LEADERSHIP, AND CITIZENSHIP IN A SAFE AND INCLUSIVE ENVIRONMENT. THE ACADEMY IS PROUD TO BE RANKED THE NUMBER ONE PRIVATE SCHOOL IN THE FAYETTEVILLE AREA AND AMONG THE TOP 20 BEST PRIVATE SCHOOLS IN NORTH CAROLINA BY NICHE.COM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAYETTEVILLE ACADEMY IS AN INDEPENDENT, COLLEGE PREPARATORY SCHOOL (PREK- 12) THAT ENCOURAGES STUDENTS TO ACHIEVE THEIR FULL POTENTIAL BY OFFERING EXCEPTIONAL OPPORTUNITIES IN ACADEMICS, FINE ARTS, AND ATHLETICS. THE ACADEMY EMPHASIZES SCHOLARSHIP, HONOR, LEADERSHIP, AND CITIZENSHIP IN A SAFE AND INCLUSIVE ENVIRONMENT. STUDENTS RESIDE IN FAYETTEVILLE, NC, CUIMBERLAND COUNTY, AND SURROUNDING COUNTIES.
FAYETTEVILLE ACADEMY, AN INDEPENDENT, COLLEGE PREPARATORY SCHOOL, ENCOURAGES STUDENTS TO ACHIEVE THEIR FULL POTENTIAL BY OFFERING OPPORTUNITIES IN ACADEMICS, FINE ARTS, AND ATHLETICS. THE ACADEMY IS PROUD TO BE RANKED THE NUMBER ONE PRIVATE SCHOOL IN THE FAYETTEVILLE AREA AND AMONG THE TOP 20 BEST PRIVATE SCHOOLS IN NORTH CAROLINA BY NICHE.COM. FAYETTEVILLE ACADEMY'S SMALL CLASS SIZES, SAFE AND CARING ATMOSPHERE AND NUMEROUS EXTRACURRICULAR ACTIVITIES ENSURE THAT EACH CHILD AT THE ACADEMY RECEIVES A UNIQUE EDUCATIONAL EXPERIENCE. THE SCHOOL OFFERS STATE-OF-THE-ART STEAM SMARTLABS, BAND, CHORUS, THEATRE, ON-SITE SAT AND ACT TESTING, A COLLEGE COUNSELING PROGRAM, 13AP AND 15 HONOR COURSES, OVER 25 CLUBS AND ORGANIZATIONS, BEFORE AND AFTER SCHOOL CARE AND ENRICHMENT PROGRAMS, A CHROMEBOOK AND IPAD PROGRAM, A FULL-TIME NURSE ON SITE, AND THE SUMMER ODYSSEY CAMP PROGRAM. THE AVERAGE SAT AND ACT SCORES OF ACADEMY STUDENTS EXCEED NATIONAL AVERAGES. STUDENTS CAN PARTICIPATE IN COMPETITIONS SUCH AS BATTLE OF THE BOOKS, LEGO ROBOTICS TEAM, MOCK TRIAL, SCIENCE OLYMPIAD, AND SCRIPPS SPELLING BEE. IN ADDITION, THE ACADEMY OFFERS 24 ATHLETIC TEAMS INCLUDING BASKETBALL, SOCCER, TENNIS, VOLLEYBALL, GOLF , CROSS COUNTRY, TRACK, BASEBALL, LACROSSE, SWIMMING, AND CHEERLEADING. ATHLETIC TEAMS HAVE WON A TOTAL OF 23 STATE CHAMPIONSHIPS. APPROXIMATELY 1/3 OF STUDENTS AT FA RECEIVE FINANCIAL AID, AND 1/3 ARE FROM MILITARY FAMILIES. THE ACADEMY BOASTS A DIVERSE STUDENT POPULATION WITH OVER 1/3 OF STUDENTS BEING FROM MINORITY BACKGROUNDS. 72% OF THE FACULTY AND ADMINISTRATION HOLD ADVANCED DEGREES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Quesnel Head Of Scho | $179,370 | ||
Josh Barkman Chairman | OfficerTrustee | $0 | |
Andrew Penink Vice Chairma | OfficerTrustee | $0 | |
Tim Ingram Secretary | OfficerTrustee | $0 | |
Robert Vangeons Treasurer | OfficerTrustee | $0 | |
Wells Alderman Trustee | Trustee | $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 | $995,982 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $995,982 |
| Total Program Service Revenue | $5,454,736 |
| Investment income | $59,967 |
| 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 | $6,525,555 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,660,143 |
| Pension plan accruals and contributions | $187,519 |
| Other employee benefits | $427,626 |
| Payroll taxes | $262,563 |
| 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 | $36,423 |
| Office expenses | $6,490 |
| Information technology | $142,332 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,037 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $325,546 |
| Insurance | $112,068 |
| All other expenses | $376,803 |
| Total functional expenses | $6,031,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,380,890 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $77,591 |
| 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 | $72,869 |
| Net Land, buildings, and equipment | $3,774,430 |
| Investments—publicly traded securities | $769,658 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $33,389 |
| Total assets | $6,108,827 |
| Accounts payable and accrued expenses | $388,785 |
| Grants payable | $0 |
| Deferred revenue | $166,366 |
| 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 | $1,119,213 |
| Total liabilities | $1,674,364 |
| Net assets without donor restrictions | $3,511,021 |
| Net assets with donor restrictions | $923,442 |
| 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 | $6,108,827 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Fayetteville Academy has recieved totaling $68,140.
| Awarding Organization | Amount |
|---|---|
Cumberland Community Foundation Inc Fayetteville, NC PURPOSE: CHARITABLE GIFT | $30,144 |
Tulsa Community Foundation Tulsa, OK PURPOSE: SCHOLARSHIP | $25,000 |
Youth Growth Stock Trust Fayetteville, NC PURPOSE: GENERAL SUPPORT | $7,500 |
Carolyn Riddle Armstrong Charitable Foundation Fayetteville, NC PURPOSE: TO SUPPORT CHARITABLE MISSION | $2,500 |
Florence Rogers Charitable Trust Fayetteville, NC PURPOSE: 1/2 COST OF BUILDING SUPPLIESCOUNSELING/CLIENT AID | $1,806 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $690 |
Endowment Analysis
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 |