Wake Monarch
- Assets
- $110.5k
- Revenue
- $297.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Raleigh, NC
- Founding
- 07/2019
- Data as of
- 06/2023
- EIN
- 83-2148694
Organization Overview
Wake Monarch is located in Raleigh, NC. The organization was established in 2019. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2023, Wake Monarch employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wake Monarch 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 06/2023, Wake Monarch generated $297.9k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 49.6% each year . All expenses for the organization totaled $348.4k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
RECOVERY FROM SUBSTANCE USE DISORDER BY YOUTH
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE PROGRAMS AND ENVIRONMENTS AIMED AT THE PREVENTION, REDUCTION OF, AND RECOVERY FROM SUBSTANCE USE DISORDER BY YOUTH. DURING 2023, THE ORGANIZATION RECEIVED A DONATION-IN-KIND OF DISCOUNTED MARKETING SERVICES FROM ANGEL OAK CREATIVE. THE VALUE OF THE IN-KIND DONATION WAS TWO CONTRACTS WITH A FAIR MARKET VALUE OF $16,945.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Bourne Chair Of The Board | OfficerTrustee | 5 | $0 |
Bonnie Duncan Vice Chair | OfficerTrustee | 5 | $0 |
Jake Summers Treasurer | OfficerTrustee | 5 | $0 |
Kim Morris Secretary | OfficerTrustee | 5 | $0 |
Michelle Umstead Director | Trustee | 5 | $0 |
Jimmy Wright Director | Trustee | 2 | $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 | $144,925 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $144,925 |
| Total Program Service Revenue | $121,180 |
| Investment income | $21 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $31,810 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $297,936 |
| 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. | $82,996 |
| Compensation of current officers, directors, key employees. | $9,089 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $126,546 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,075 |
| Fees for services: Accounting | $5,490 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $28,827 |
| Office expenses | $4,808 |
| Information technology | $15,797 |
| Royalties | $0 |
| Occupancy | $14,227 |
| Travel | $2,980 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,158 |
| All other expenses | $346 |
| Total functional expenses | $348,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,500 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $110,500 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,557 |
| Total liabilities | $14,557 |
| Net assets without donor restrictions | $95,943 |
| 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 | $110,500 |