Carolina Charter Academy Inc
- Assets
- $20.9m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 94
- Location
- Angier, NC
- Founding
- 12/2017
- Data as of
- 06/2022
- EIN
- 82-1704078
Organization Overview
Carolina Charter Academy Inc is located in Angier, NC. The organization was established in 2017. 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, Carolina Charter Academy Inc employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Charter Academy Inc 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, Carolina Charter Academy Inc generated $6.4m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 20.0% each year . All expenses for the organization totaled $6.3m during the year ending 06/2022. While expenses have increased by 22.9% per year over the past 3 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 PUBLIC CHARTER SCHOOL IN WAKE COUNTY NC, SERVING APPROXIMATELY 740 STUDENTS FOR THE FISCAL YEAR ENDING JUNE 30, 2022.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maria Mills Executive Di | Officer | 40 | $115,734 |
Nolan Perry Board Chair | OfficerTrustee | 2 | $0 |
Katelyn Day Vice Chair | OfficerTrustee | 2 | $0 |
Jay Sikes Treasurer | OfficerTrustee | 2 | $0 |
Verna Little Member | Trustee | 1 | $0 |
Daniel Gibson Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $716,872 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,228 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $731,100 |
| Total Program Service Revenue | $5,560,438 |
| Investment income | $1,730 |
| 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 | $6,353,192 |
| 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. | $152,900 |
| Compensation of current officers, directors, key employees. | $21,406 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,665,971 |
| Pension plan accruals and contributions | $67,731 |
| Other employee benefits | $238,049 |
| Payroll taxes | $236,411 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,942 |
| Fees for services: Accounting | $10,182 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $378,550 |
| Advertising and promotion | $16,243 |
| Office expenses | $64,799 |
| Information technology | $290,799 |
| Royalties | $0 |
| Occupancy | $231,969 |
| Travel | $1,132 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,957 |
| Interest | $1,233,797 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $262,201 |
| Insurance | $25,229 |
| All other expenses | $9,128 |
| Total functional expenses | $6,292,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,737,111 |
| Savings and temporary cash investments | $2,346,059 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,200 |
| 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 | $118,690 |
| Net Land, buildings, and equipment | $16,648,828 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,856,888 |
| Accounts payable and accrued expenses | $149,513 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $19,791,700 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $206,100 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $112,022 |
| Total liabilities | $20,259,335 |
| Net assets without donor restrictions | $597,553 |
| 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 | $20,856,888 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
James Island Charter High School Charleston, SC | $22,889,433 | $20,877,381 |
Legacy Early College Greenville, SC | $11,865,335 | $23,115,805 |
Pine Lake Preparatory Inc Mooresville, NC | $43,880,592 | $18,139,159 |
Memphis Business Academy Memphis, TN | $29,884,603 | $21,343,740 |
Uwharrie Green School Inc Asheboro, NC | $37,750,042 | $15,359,750 |
Bradford Preparatory School Charlotte, NC | $43,531,972 | $16,692,910 |
Triangle Charter Education Association Inc Cary, NC | $23,775,884 | $15,148,719 |
Invest Collegiate Imagine Inc Asheville, NC | $38,770,080 | $14,359,175 |
Henderson Collegiate Henderson, NC | $34,215,458 | $16,220,503 |
Coastal Plains Education Center Inc Metter, GA | $21,944,449 | $17,839,473 |
Mountain Island Charter School Inc Mount Holly, NC | $10,307,817 | $15,645,892 |
High Point Academy Inc Spartanburg, SC | $32,871,458 | $16,108,414 |