East Wake First Charter School
- Assets
- $17.7m
- Revenue
- $12.5m
- Investments
- $0.0
- Employees
- 180
- Location
- Zebulon, NC
- Founding
- 12/1999
- Data as of
- 06/2022
- 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 06/2022, East Wake First Charter School employed 180 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 06/2022, East Wake First Charter School generated $12.5m in total revenue. This represents relatively stable growth, over the past 4 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 06/2022. While expenses have increased by 2.3% per year over the past 4 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
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 1,223 STUDENTS IN GRADES K-12 FOR THE FISCAL YEAR ENDING 06/30/22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Broadfoot Chairman | OfficerTrustee | 1 | $0 |
Jamie Landrum Vice Chair | OfficerTrustee | 1 | $0 |
Stephanie Hall Secretary | OfficerTrustee | 40 | $0 |
Tom Williams Treasurer | OfficerTrustee | 40 | $0 |
Heather Collier Director | Trustee | 1 | $0 |
Joseph Tarlton Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jani-king Of Raleigh Janitorial Srvc | 6/29/21 | $126,850 |
Acadia Northstar Mgt & Accting | 6/29/21 | $138,849 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $976,926 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,312 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $996,238 |
| Total Program Service Revenue | $11,421,994 |
| Investment income | $178 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $17,673 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,517,626 |
| 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. | $247,000 |
| Compensation of current officers, directors, key employees. | $247,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,534,127 |
| Pension plan accruals and contributions | $372,038 |
| Other employee benefits | $1,549,521 |
| Payroll taxes | $416,205 |
| Fees for services: Management | $78,300 |
| Fees for services: Legal | $24,000 |
| 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 | $763,323 |
| Advertising and promotion | $3,337 |
| Office expenses | $276,529 |
| Information technology | $108,049 |
| Royalties | $0 |
| Occupancy | $304,976 |
| Travel | $14,678 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,187 |
| Interest | $423,170 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $593,155 |
| Insurance | $64,164 |
| All other expenses | $14,471 |
| Total functional expenses | $10,948,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,164,749 |
| Savings and temporary cash investments | $843,668 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $56,274 |
| 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 | $89,801 |
| Net Land, buildings, and equipment | $9,474,375 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $217,928 |
| Other assets | $3,852,313 |
| Total assets | $17,699,108 |
| Accounts payable and accrued expenses | $32,333 |
| Grants payable | $0 |
| Deferred revenue | $7,982 |
| 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 | $9,876,672 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,699,935 |
| Total liabilities | $29,616,922 |
| Net assets without donor restrictions | -$11,917,814 |
| 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 | $17,699,108 |