Civic Intelligence

Wayne Preparatory Academy Charter School Inc

990 • Fiscal year 2022 • EIN 26-4207236

Jul 01, 2021 to Jun 30, 2022 • Filed on May 08, 2023

Organization ProfileWWW.WAYNEPREPNC.ORG
600 Tommys RoadGoldsboro, NC 27530

(919) 734-8035

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

88th percentile

0.96x

Higher debt load relative to assets than 88% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

84th percentile

1.95x

Higher debt load relative to revenue than 84% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Net Margin

21st percentile

-3.1%

Higher net margin than 21% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

36th percentile

$110,658

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Asset Growth

98th percentile

1092%

Faster asset growth than 98% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

68th percentile

21%

Faster revenue growth than 68% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$20,651,662

Up $18,919,420 (+1092%) from 2021

Net Assets

Down

$923,731

Down $309,961 (-25%) from 2021

Liabilities

Up

$19,727,931

Up $19,229,381 (+3857%) from 2021

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin21st percentile

Revenue

Up

$10,094,949

Up $1,768,954 (+21%) from 2021

Expenses

Up

$10,404,910

Up $2,029,733 (+24%) from 2021

Net Income

Down

-$309,961

Down $260,779 (-530%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0-$10MAssets 2015: $64,790Liabilities 2015: $427,444Net Assets 2015: -$362,6542015Assets 2016: $298,078Liabilities 2016: $14,949Net Assets 2016: $283,1292016Assets 2017: $560,531Liabilities 2017: $37,093Net Assets 2017: $523,4382017Assets 2018: $888,471Liabilities 2018: $182,206Net Assets 2018: $706,2652018Assets 2019: $971,307Liabilities 2019: $230,552Net Assets 2019: $740,7552019Assets 2020: $1,541,607Liabilities 2020: $258,732Net Assets 2020: $1,282,8752020Assets 2021: $1,732,242Liabilities 2021: $498,550Net Assets 2021: $1,233,6922021Assets 2022: $20,651,662Liabilities 2022: $19,727,931Net Assets 2022: $923,7312022Assets 2023: $18,770,556Liabilities 2023: $18,510,774Net Assets 2023: $259,7822023Assets 2024: $17,039,576Liabilities 2024: $17,227,310Net Assets 2024: -$187,7342024

Highlighted filing

2022

Assets$20,651,662
Liabilities$19,727,931
Net Assets$923,731
Open 2022 Filing

Operations Trend

Revenue Growth68th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2015: $4,002,576Expenses 2015: $4,365,230Net Income 2015: -$362,6542015Revenue 2016: $6,694,096Expenses 2016: $6,048,313Net Income 2016: $645,7832016Revenue 2017: $4,592,629Expenses 2017: $4,352,320Net Income 2017: $240,3092017Revenue 2018: $4,310,399Expenses 2018: $4,127,572Net Income 2018: $182,8272018Revenue 2019: $5,759,081Expenses 2019: $5,724,591Net Income 2019: $34,4902019Revenue 2020: $7,283,996Expenses 2020: $6,741,876Net Income 2020: $542,1202020Revenue 2021: $8,325,995Expenses 2021: $8,375,177Net Income 2021: -$49,1822021Revenue 2022: $10,094,949Expenses 2022: $10,404,910Net Income 2022: -$309,9612022Revenue 2023: $10,693,404Expenses 2023: $11,357,353Net Income 2023: -$663,9492023Revenue 2024: $10,263,334Expenses 2024: $10,710,849Net Income 2024: -$447,5152024

Highlighted filing

2022

Revenue$10,094,949
Expenses$10,404,910
Net Income-$309,961
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 8, 2023
Return Version
2021v4.2
Gross Receipts
$10,094,949
Mission and Program Overview

Mission

To operate a charter school in north carolina

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$774,774$1,201,087▲ $426,313
Rtn Earn Endowment Incm Other Fnds$996,233$659,445▼ $336,788
Land, Buildings, and Equipment, Net$237,459$264,286▲ $26,827
Pd in Cap Srpls Land Bldg Eqp Fund$237,459$264,286▲ $26,827
Accounts Receivable$19,451$49,336▲ $29,885
Prepaid Expenses and Deferred Charges$41,948$29,964▼ $11,984
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,732,242$20,651,662▲ $18,919,420
Other Assets Total$658,610$19,106,989▲ $18,448,379
Liabilities
Other Liabilities$0$19,335,385▲ $19,335,385
Accounts Payable and Accrued Expenses$497,413$392,546▼ $104,867
Deferred Revenue$1,137$0▼ $1,137
Tax Exempt Bond Liabilities$0--
Total Liabilities$498,550$19,727,931▲ $19,229,381
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,233,692$923,731▼ $309,961
Total Liabilities and Net Assets / Fund Balance$1,732,242$20,651,662▲ $18,919,420

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$15,600$5,200-
Equipment$129,010$93,099-
Leasehold Improvements$119,676$10,671-
Other Assets Org$18,801,653--
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John TwittyManaging DirectorFT$102,794$7,864$110,658

Board Members and Trustees

NameTitle
Amanda WellsBoard Chairman
Scott MackeyVice Chairman
Jessica WolfeBoard Secretary
Charles GaylorBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,703,034
Program Service Revenue
$194,786
Investment Income
$0
Other Revenue
$197,129
All Other Contributions
$148,687
Change in Net Assets
$-309,961

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,094,949
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$10,094,949
Total Revenue per Form 990
$10,094,949
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,404,910
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$372,510--$372,510
Other Expenses$180,789--$180,789
Total Functional Expenses$10,404,910$0$0$10,404,910

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,404,910
Total Expenses per Audited Statements$10,404,910
Total Expenses per Form 990$10,404,910
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Obligations$19,335,385
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A draft copy of the 990 return was provided for review and approval.”

Form 990, Part VI, Section B, Line 12C

“Each member of the board of directors signs a conflict of interest policy each year.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy, and financial statements are available for public inspection at the organization's office upon request. Organization staff are available to provide supervision and answer any questions the inquiring party may have.”

Filing and Contact Details

Filer

Filer Name
Wayne Preparatory Academy Inc
EIN
26-4207236
Phone
9197348035
Address
600 TOMMYS ROAD, GOLDSBORO, NC 27530

Signing Officer

Name
John Twitty
Title
Managing Director
Phone
9197348035
Signed
2023-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Twitty
Formed
2015
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
4
Employees
166
Volunteers
20

Preparer

Firm
Potter & Company Pa
Address
434 COPPERFIELD BLVD NE STE A, CONCORD, NC 28025
Preparer
Kenni E Doyle CPA
Phone
7047868189
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Raw XML Appendix398 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE POLICY IS INCLUDED IN THE ORGANIZATION'S STATEMENT OF PURPOSE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS A FREE PUBLIC CHARTER SCHOOL, THEREFORE IT DOES NOT OFFER SCHOLARSHIPS OR FINANCIAL AID.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION RECEIVES FEDERAL AND STATE ASSISTANCE THROUGH THE STATE BOARD OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY OF THE 990 RETURN WAS PROVIDED FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH MEMBER OF THE BOARD OF DIRECTORS SIGNS A CONFLICT OF INTEREST POLICY EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE UPON REQUEST. ORGANIZATION STAFF ARE AVAILABLE TO PROVIDE SUPERVISION AND ANSWER ANY QUESTIONS THE INQUIRING PARTY MAY HAVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0300826240
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd01
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.51990
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0TO DEVELOP A NEW SCHOOL FACILITY, HIRE AND MANAGE SCHOOL PERSONNEL
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0WAYNE PREPARATORY ACADEMY LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0600 TOMMYS ROAD
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0GOLDSBORO
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd027530
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd01
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01732242
IRS990/TotalAssetsEOYAmt020651662
IRS990/TotalAssetsGrp/BOYAmt01732242
IRS990/TotalAssetsGrp/EOYAmt020651662
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt09703034
IRS990/TotalEmployeeCnt0166
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt010404910
IRS990/TotalFunctionalExpensesGrp/TotalAmt010404910
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0498550
IRS990/TotalLiabilitiesEOYAmt019727931
IRS990/TotalLiabilitiesGrp/BOYAmt0498550
IRS990/TotalLiabilitiesGrp/EOYAmt019727931
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01233692
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0923731
IRS990/TotalOtherCompensationAmt07864
IRS990/TotalProgramServiceExpensesAmt010404910
IRS990/TotalProgramServiceRevenueAmt0194786
IRS990/TotalReportableCompFromOrgAmt0102794
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0391915
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt010094949
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01732242
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt020651662
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0600 TOMMYS ROAD
IRS990/USAddress/CityNm0GOLDSBORO
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027530
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.WAYNEPREPNC.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN TWITTY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGING DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09197348035
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WAYNE PREPARATORY ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0WAYN
ReturnHeader/Filer/EIN0264207236
ReturnHeader/Filer/PhoneNum09197348035
ReturnHeader/Filer/USAddress/AddressLine1Txt0600 TOMMYS ROAD
ReturnHeader/Filer/USAddress/CityNm0GOLDSBORO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027530
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561220683
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0POTTER & COMPANY PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0434 COPPERFIELD BLVD NE STE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CONCORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028025
ReturnHeader/PreparerPersonGrp/PhoneNum07047868189
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNI E DOYLE CPA
ReturnHeader/ReturnTs02023-05-08T08:28:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOHN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TWITTY
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$20,651,662
Liabilities
$19,727,931
Net assets
$923,731
Revenue
$10,094,949
Expenses
$10,404,910
Net income
-$309,961
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.0$17.2$0.19$10.3$10.7$0.45
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.8$18.5$0.26$10.7$11.4$0.66
2022Detailed filing. Detailed filing data is available for this year.$20.7$19.7$0.92$10.1$10.4$0.31
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.73$0.50$1.23$8.33$8.38$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.54$0.26$1.28$7.28$6.74$0.54
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.97$0.23$0.74$5.76$5.72$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.89$0.18$0.71$4.31$4.13$0.18
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.56$0.04$0.52$4.59$4.35$0.24
2016Detailed filing. Detailed filing data is available for this year.$0.30$0.01$0.28$6.69$6.05$0.65
2015Detailed filing. Detailed filing data is available for this year.$0.06$0.43$0.36$4.00$4.37$0.36