East Wake First Charter School
- Assets
- $17.7m
- Revenue
- $11.4m
- Investments
- $0.0
- Employees
- 158
- Location
- Zebulon, NC
- Founding
- 12/1999
- Data as of
- 06/2021
- EIN
- 56-2076997
Organization Overview
East Wake First Charter School is located in Zebulon, NC. The organization was established in 1999. 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 06/2021, East Wake First Charter School employed 158 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Wake First Charter School 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 06/2021, East Wake First Charter School generated $11.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $10.9m during the year ending 06/2021. While expenses have increased by 4.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A PUBLIC CHARTER SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED AS A CHARTER SCHOOL IN WAKE COUNTY, NC SERVING APPROXIMATELY 1,193 STUDENTS IN GRADES K-12 FOR THE FISCAL YEAR ENDING 06/30/21.
OPERATED AS A CHARTER SCHOOL IN WAKE COUNTY, NC SERVING APPROXIMATELY 1,193 STUDENTS IN GRADES K-12 FOR THE FISCAL YEAR ENDING 06/30/21.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Gay Superintende | Officer | 40 | $130,295 |
Stephanie Hall Secretary | OfficerTrustee | 2 | $0 |
Jamie Landrum Vice Chair | OfficerTrustee | 2 | $0 |
Tom Williams Treasurer | OfficerTrustee | 2 | $0 |
John Broadfoot Chairman | OfficerTrustee | 2 | $0 |
Joseph Tarlton Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Acadia Northstar Mgt & Accting | 6/29/21 | $138,849 |
Jani-king Of Raleigh Janitorial Srvc | 6/29/21 | $126,850 |
Acadia Northstar Mgt & Accting | 6/29/21 | $138,849 |
Jani-king Of Raleigh Janitorial Srvc | 6/29/21 | $126,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $482,268 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,740 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $496,008 |
| Total Program Service Revenue | $10,840,068 |
| Investment income | $217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $75 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,394,430 |
| 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. | $243,000 |
| Compensation of current officers, directors, key employees. | $243,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,650,001 |
| Pension plan accruals and contributions | $1,383,562 |
| Other employee benefits | $327,154 |
| Payroll taxes | $418,092 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,000 |
| Fees for services: Accounting | $109,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $653,745 |
| Advertising and promotion | $3,338 |
| Office expenses | $104,977 |
| Information technology | $193,586 |
| Royalties | $0 |
| Occupancy | $299,245 |
| Travel | $7,372 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,187 |
| Interest | $487,326 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $614,377 |
| Insurance | $65,948 |
| All other expenses | $14,469 |
| Total functional expenses | $10,852,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,780,877 |
| Savings and temporary cash investments | $857,429 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $87,360 |
| 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 | $106,715 |
| Net Land, buildings, and equipment | $10,027,683 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $230,623 |
| Other assets | $3,640,606 |
| Total assets | $17,731,293 |
| Accounts payable and accrued expenses | $20,369 |
| Grants payable | $0 |
| Deferred revenue | $82 |
| 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 | $10,177,582 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,020,409 |
| Total liabilities | $31,218,442 |
| Net assets without donor restrictions | -$13,487,149 |
| 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 | $17,731,293 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that East Wake First Charter School has recieved totaling $553.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $553 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ensworth School Nashville, TN | $203,625,309 | $44,175,360 |
Freedom Preparatory Academy Inc Memphis, TN | $50,857,494 | $33,295,008 |
Cannon School Inc Concord, NC | $52,291,449 | $28,580,834 |
Thales Academy Raleigh, NC | $136,454,160 | $55,473,682 |
Mt Paran Christian School Inc Kennesaw, GA | $56,928,804 | $29,889,603 |
Franklin Road Academy Inc Nashville, TN | $58,128,778 | $31,046,189 |
Brentwood Academy Inc Brentwood, TN | $50,379,157 | $25,930,047 |
Lake Norman Charter School Inc Huntersville, NC | $64,551,351 | $25,126,213 |
Greensboro Independent School Corporation Greensboro, NC | $42,520,891 | $22,760,621 |
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Hammond School Columbia, SC | $54,753,815 | $20,190,119 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |