Civic Intelligence

North East Carolina Preparatory

EIN 45-4784236 • 501(c)3 • Tarboro, NC

Profile

North east carolina preparatory school is a public charter school serving grades k-12 in tarboro, north carolina.

274 Husky TrailTarboro, NC 27886

www.necprepschool.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

90th percentile

0.90x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

88th percentile

2.00x

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

501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

55th percentile

6.5%

Higher net margin than 55% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

25th percentile

$100,451

Higher top officer pay than 25% of similar nonprofits.

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

501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

2nd percentile

-44%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

8th percentile

-31%

Faster revenue growth than 8% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$24,353,729

Down $18,915,815 (-44%) from 2022

Liabilities

Down

$21,900,368

Down $18,422,786 (-46%) from 2022

Net Assets

Down

$2,453,361

Down $493,029 (-17%) from 2022

Operations
Liabilities / Revenue88th percentileNet Margin55th percentile

Revenue

Down

$10,947,080

Down $4,957,666 (-31%) from 2022

Expenses

Down

$10,239,597

Down $4,040,678 (-28%) from 2022

Net Income

Down

$707,483

Down $916,988 (-56%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth2nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0-$20MAssets 2013: $11,654,790Liabilities 2013: $12,104,311Net Assets 2013: -$449,5212013Assets 2014: $11,357,479Liabilities 2014: $13,117,620Net Assets 2014: -$1,760,1412014Assets 2015: $10,783,938Liabilities 2015: $11,918,672Net Assets 2015: -$1,134,7342015Assets 2016: $10,246,056Liabilities 2016: $11,504,900Net Assets 2016: -$1,258,8442016Assets 2017: $989,878Liabilities 2017: $172,609Net Assets 2017: $817,2692017Assets 2018: $1,112,476Liabilities 2018: $167,605Net Assets 2018: $944,8712018Assets 2019: $1,103,584Liabilities 2019: $128,311Net Assets 2019: $975,2732019Assets 2020: $1,731,315Liabilities 2020: $62,562Net Assets 2020: $1,668,7532020Assets 2021: $23,977,388Liabilities 2021: $22,833,064Net Assets 2021: $1,144,3242021Assets 2022: $43,269,544Liabilities 2022: $40,323,154Net Assets 2022: $2,946,3902022Assets 2023: $24,353,729Liabilities 2023: $21,900,368Net Assets 2023: $2,453,3612023

Highlighted filing

2023

Assets$24,353,729
Liabilities$21,900,368
Net Assets$2,453,361
Open 2023 Filing

Operations Trend

Revenue Growth8th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2013: $2,902,508Expenses 2013: $3,352,029Net Income 2013: -$449,5212013Revenue 2014: $6,818,997Expenses 2014: $7,810,489Net Income 2014: -$991,4922014Revenue 2015: $10,239,326Expenses 2015: $9,742,446Net Income 2015: $496,8802015Revenue 2016: $8,911,883Expenses 2016: $9,035,993Net Income 2016: -$124,1102016Revenue 2017: $8,632,122Expenses 2017: $8,212,643Net Income 2017: $419,4792017Revenue 2018: $8,408,271Expenses 2018: $8,280,669Net Income 2018: $127,6022018Revenue 2019: $8,422,582Expenses 2019: $8,392,180Net Income 2019: $30,4022019Revenue 2020: $8,941,641Expenses 2020: $8,251,365Net Income 2020: $690,2762020Revenue 2021: $8,765,939Expenses 2021: $8,576,587Net Income 2021: $189,3522021Revenue 2022: $15,904,746Expenses 2022: $14,280,275Net Income 2022: $1,624,4712022Revenue 2023: $10,947,080Expenses 2023: $10,239,597Net Income 2023: $707,4832023

Highlighted filing

2023

Revenue$10,947,080
Expenses$10,239,597
Net Income$707,483
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Summary only. Only limited summary data is available for this year.

Open filing
Assets
$24,353,729
Liabilities
$21,900,368
Net assets
$2,453,361
Revenue
$10,947,080
Expenses
$10,239,597
Net income
$707,483
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$24.4$21.9$2.45$10.9$10.2$0.71
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$43.3$40.3$2.95$15.9$14.3$1.62
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.0$22.8$1.14$8.77$8.58$0.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.73$0.06$1.67$8.94$8.25$0.69
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.13$0.98$8.42$8.39$0.03
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.17$0.94$8.41$8.28$0.13
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.99$0.17$0.82$8.63$8.21$0.42
2016Detailed filing. Detailed filing data is available for this year.$10.2$11.5$1.26$8.91$9.04$0.12
2015Summary only. Only limited summary data is available for this year.$10.8$11.9$1.13$10.2$9.74$0.50
2014Summary only. Only limited summary data is available for this year.$11.4$13.1$1.76$6.82$7.81$0.99
2013Summary only. Only limited summary data is available for this year.$11.7$12.1$0.45$2.90$3.35$0.45
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 18, 2021
Return Version
2020v4.0
Gross Receipts
$10,929,777
Mission and Program Overview

Mission

North east carolina preparatory school is a public charter school serving grades k-12 in tarboro, north carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$209,098$19,502,366▲ $19,293,268
Cash and Non-Interest-Bearing Accounts$1,126,365$1,865,825▲ $739,460
Savings and Temporary Cash Investments-$1,584,014-
Rtn Earn Endowment Incm Other Fnds$1,668,753$1,144,324▼ $524,429
Intangible Assets-$700,252-
Prepaid Expenses and Deferred Charges$223,632$232,653▲ $9,021
Pledges and Grants Receivable$171,014$91,483▼ $79,531
Accounts Receivable$1,206$795▼ $411
Total Assets$1,731,315$23,977,388▲ $22,246,073
Liabilities
Tax Exempt Bond Liabilities-$22,611,588-
Other Liabilities$816$178,129▲ $177,313
Accounts Payable and Accrued Expenses$45,333$40,635▼ $4,698
Mortgage Notes Payable Secured by Investment Property$16,413$2,712▼ $13,701
Total Liabilities$62,562$22,833,064▲ $22,770,502
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,668,753$1,144,324▼ $524,429
Total Liabilities and Net Assets / Fund Balance$1,731,315$23,977,388▲ $22,246,073

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,304,609$1,378,901$20,683,510
Equipment$20,811$262,564$283,375
Leasehold Improvements$167,376$35,373$202,749
Other Land Buildings$9,570$57,098$66,668
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeBaseTotal
William EtheridgeExecutive DiFT$100,451$100,451

Board Members and Trustees

NameTitle
Cary FlemingChair
Anne MannVice Chair
Beatriz WardDirector
Cara ArcherDirector
David AndersonDirector
Lisa KnightDirector
Richard ScottDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$9,175,034
Program Service Revenue
$22,159
Investment Income
$0
Other Revenue
$-431,254
All Other Contributions
$5,322
Change in Net Assets
$189,352

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,765,939
Revenue Not Reported on Form 990
$-9,403
Total Revenue per Audited Statements
$8,756,536
Total Revenue per Form 990
$8,765,939
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,492,410
Other Expenses$3,084,177
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,024,613$1,558,136-$4,582,749
Occupancy$1,202,367$619,400-$1,821,767
Other Employee Benefits$534,079$275,131-$809,210
Fees for Services Other$263,709$135,850-$399,559
Information Technology$184,012$94,793-$278,805
Current Officers, Directors, Trustees, and Key Employees$66,298$34,153-$100,451
Insurance$55,706$28,697-$84,403
Travel$39,302$20,246-$59,548
Other Expenses$24,457$12,599-$37,056
All Other Expenses$23,102$11,901-$35,003
Depreciation Depletion$20,091--$20,091
Interest$645$333-$978
Total Functional Expenses$5,667,380$2,909,207$0$8,576,587

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,576,587
Total Expenses per Form 990$8,576,587
Total Expenses per Audited Statements$7,872,209
Expenses Not Reported on Form 990$-704,378
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
Prepaid Rent$174,689
Deferred Outflows of Res.$3,440

Bond Issues

BondIssuerIssuedIssue PricePurpose
ASeries 2019a & 2019b Revenue Bonds2019-06-15$23,000,000In june 2019, the public finance authority issued two public finance authority charter school revenu

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Management delegated to acadia northstar,llc”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the finance committee and approved by the board prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Board members are required to sign conflict of interest statements annually.”

Form 990, Page 6, Part VI, Line 15A

“Salaries are determined using both market data and comparative data from other public charter schools.”

Form 990, Page 6, Part VI, Line 15B

“Salaries are determined using both market data and comparative data from other public charter schools.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available at the school's front office upon request.”

Filing and Contact Details

Filer

Filer Name
North East Carolina Preparatory
EIN
45-4784236
Phone
2526410464
Address
274 HUSKY TRAIL, TARBORO, NC 27886

Signing Officer

Name
William Etheridge
Title
Executive Director
Phone
2526410464
Signed
2021-01-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Etheridge
Formed
2011
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
184
Volunteers
200

Preparer

Firm
Sharpe Patel CPA
Address
325 ARLINGTON AVE STE 510, CHARLOTTE, NC 28203-4489
Preparer
Megan Rushford CPA
Phone
7044993893
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 4, Part XIII

“Prior period adjustment to include necp holdings llc's (disregarded entity) prior year net assets.”

Raw XML AppendixShowing 400 of 476 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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IRS990/OccupancyGrp/TotalAmt01821767
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IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0275131
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0534079
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0809210
IRS990/OtherExpensesGrp/Desc0BOOKS AND SUPPLIES
IRS990/OtherExpensesGrp/Desc1ADMIN SERVICES
IRS990/OtherExpensesGrp/Desc2NONCAP EQUIP & LEASES
IRS990/OtherExpensesGrp/Desc3FOOD
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt061663
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt132593
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt223712
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt312599
IRS990/OtherExpensesGrp/ProgramServicesAmt0119700
IRS990/OtherExpensesGrp/ProgramServicesAmt163269
IRS990/OtherExpensesGrp/ProgramServicesAmt246030
IRS990/OtherExpensesGrp/ProgramServicesAmt324457
IRS990/OtherExpensesGrp/TotalAmt0181363
IRS990/OtherExpensesGrp/TotalAmt195862
IRS990/OtherExpensesGrp/TotalAmt269742
IRS990/OtherExpensesGrp/TotalAmt337056
IRS990/OtherLiabilitiesGrp/BOYAmt0816
IRS990/OtherLiabilitiesGrp/EOYAmt0178129
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/ExclusionAmt052367
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt052367
IRS990/OtherRevenueTotalAmt052367
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01558136
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt03024613
IRS990/OtherSalariesAndWagesGrp/TotalAmt04582749
IRS990/PartialLiquidationInd0false
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0171014
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt091483
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0223632
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0232653
IRS990/PrincipalOfficerNm0WILLIAM ETHERIDGE
IRS990/PriorPeriodAdjustmentsAmt0-704378
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0BEFORE/AFTER SCHOOL CARE
IRS990/ProgramServiceRevenueGrp/Desc1FOOD SERVICE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt017423
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt14736
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt017423
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14736
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt08767736
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IRS990/PYOtherExpensesAmt02759678
IRS990/PYOtherRevenueAmt096525
IRS990/PYProgramServiceRevenueAmt077380
IRS990/PYRevenuesLessExpensesAmt0690276
IRS990/PYSalariesCompEmpBnftPaidAmt05491687
IRS990/PYTotalExpensesAmt08251365
IRS990/PYTotalRevenueAmt08941641
IRS990/ReconcilationRevenueExpnssAmt0189352
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IRS990/RelatedEntityInd0false
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IRS990/RentalIncomeOrLossGrp/RealAmt0-483621
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt022159
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01668753
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01144324
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01584014
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt019304609
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01378901
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt020683510
IRS990ScheduleD/EquipmentGrp/BookValueAmt020811
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0262564
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0283375
IRS990ScheduleD/ExpensesNotReportedAmt0-704378
IRS990ScheduleD/ExpensesSubtotalAmt08576587
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0167376
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt035373
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0202749
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-9403
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09570
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt057098
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt066668
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0174689
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13440
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED OUTFLOWS OF RES.
IRS990ScheduleD/PriorYearAdjustmentsAmt0-704378
IRS990ScheduleD/RevenueNotReportedAmt0-9403
IRS990ScheduleD/RevenueSubtotalAmt08765939
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PRIOR PERIOD ADJUSTMENT TO INCLUDE NECP HOLDINGS LLC'S (DISREGARDED ENTITY) PRIOR YEAR NET ASSETS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XIII
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019502366
IRS990ScheduleD/TotalExpensesPerForm990Amt08576587
IRS990ScheduleD/TotalLiabilityAmt0178129
IRS990ScheduleD/TotalRevenuePerForm990Amt08765939
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08756536
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07872209
IRS990ScheduleE/ComplianceWithRevProc7550Ind0false
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0false
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0false
IRS990ScheduleE/MaintainRacialCompRecsInd0false
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0false
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0false
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0NORTH EAST CAROLINA PREPARATORY SCHOOL IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1NORTH EAST NORTH EAST CAROLINA PREPARATORY SCHOOL IS A PUBLIC CHARTERSCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL IS ORGANIZED AS A CHARTER SCHOOL UNDER THE NORTH CAROLINA GENERAL STATUTE 115C-238 29A. ACCORDINGLY, IT RECEIVES BOTH FEDERAL AND STATE FUNDING AS ITS PRIMARY MEANS OF SUPPORT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt3NORTH EAST CAROLINA PREPARATORY SCHOOL IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578. THEREFORE, SCHEDULE E IS NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, LINE 6
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE E, LINE 7
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd0false
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0SERIES 2019A & 2019B REVENUE BONDS IN JUNE 2019, THE PUBLIC FINANCE AUTHORITY ISSUED TWO PUBLIC FINANCE AUTHORITY CHARTER SCHOOL REVENUE BONDS IN THE PRINCIPAL AMOUNTS OF 22,000,000, FOR THE SERIES 2019A BOND,AND 1,000,000, FOR THE SERIES 2019B BOND, TO NECP HOLDINGS, LLC. PROCEEDS OF THE BONDS WERE LOANED TO NECP HOLDINGS, LLC TO PURCHASE A SCHOOL BUILDING. THE LOANS BEAR INTEREST AT 5.75% AND 6.5%, RESPECTIVELY. PRINCIPAL PAYMENTS WILL BE PAYABLE MONTHLY ON THE SERIES 2019B BOND BEGINNING AUGUST 15, 2019 AND MATURING JUNE 15, 2024. PRINCIPAL PAYMENTS WILL BE PAYABLE SEMI-ANNUALLY ON THE SERIES 2019A BOND BEGINNING DECEMBER 15, 2019 AND MATURING JUNE 15, 2026. THE UNPAID PRINCIPAL BALANCE OF THE REVENUE BONDS AMOUNTED TO 22,611,588 AS OF JUNE 30, 2021.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02019-06-15
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt023000000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0SERIES 2019A & 2019B REVENUE BONDS
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine2Txt0NCEP HOLDINGS LLC
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0IN JUNE 2019, THE PUBLIC FINANCE AUTHORITY ISSUED TWO PUBLIC FINANCE AUTHORITY CHARTER SCHOOL REVENU
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT DELEGATED TO ACADIA NORTHSTAR,LLC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE AND APPROVED BY THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS ARE REQUIRED TO SIGN CONFLICT OF INTEREST STATEMENTS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARIES ARE DETERMINED USING BOTH MARKET DATA AND COMPARATIVE DATA FROM OTHER PUBLIC CHARTER SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SALARIES ARE DETERMINED USING BOTH MARKET DATA AND COMPARATIVE DATA FROM OTHER PUBLIC CHARTER SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE AVAILABLE AT THE SCHOOL'S FRONT OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0NORTH EAST
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine2Txt0CAROLINA PREPARATORY SCHOOL INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0NECP HOLDINGS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt022289127
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0RENT
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt01672346
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0274 HUSKY TRAIL
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0TARBORO
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd027886
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false

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