Civic Intelligence

Providence Preparatory Academy Inc

990 • Fiscal year 2022 • EIN 46-1213069

Jun 01, 2021 to May 31, 2022 • Filed on Jan 22, 2023

Organization Profileprovidencewilmington.com
2730 Northchase Parkway SEWilmington, NC 28405

(910) 431-9563

Siviq Scores

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

Liabilities / Assets

88th percentile

0.56x

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

2022 filings • NTEE B • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

92nd percentile

0.55x

Higher debt load relative to revenue than 92% of similar nonprofits.

2022 filings • NTEE B • $500k-$1M nonprofits • Source year 2022

Net Margin

73rd percentile

26%

Higher net margin than 73% of similar nonprofits.

2022 filings • NTEE B • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE B • $500k-$1M nonprofits • Source year 2022

Asset Growth

98th percentile

385%

Faster asset growth than 98% of similar nonprofits.

2022 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

81st percentile

80%

Faster revenue growth than 81% of similar nonprofits.

2022 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$884,708

Up $702,378 (+385%) from 2021

Net Assets

Up

$393,372

Up $214,422 (+120%) from 2021

Liabilities

Up

$491,336

Up $487,956 (+14437%) from 2021

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin73rd percentile

Revenue

Up

$888,967

Up $395,213 (+80%) from 2021

Expenses

Up

$660,080

Up $251,126 (+61%) from 2021

Net Income

Up

$228,887

Up $144,087 (+170%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$1.5M$1.0M$500K$0Assets 2013: $17,609Liabilities 2013: $503Net Assets 2013: $17,1062013Assets 2016: $45,942Liabilities 2016: $2,881Net Assets 2016: $43,0612016Assets 2017: $49,469Liabilities 2017: $4,838Net Assets 2017: $44,6312017Assets 2018: $62,753Liabilities 2018: $8,752Net Assets 2018: $54,0012018Assets 2019: $65,175Liabilities 2019: $6,634Net Assets 2019: $58,5412019Assets 2021: $182,330Liabilities 2021: $3,380Net Assets 2021: $178,9502021Assets 2022: $884,708Liabilities 2022: $491,336Net Assets 2022: $393,3722022Assets 2023: $912,250Liabilities 2023: $494,817Net Assets 2023: $417,4332023Assets 2024: $1,371,973Liabilities 2024: $882,326Net Assets 2024: $489,6472024Assets 2025: $1,234,307Liabilities 2025: $401,375Net Assets 2025: $832,9322025

Highlighted filing

2022

Assets$884,708
Liabilities$491,336
Net Assets$393,372
Open 2022 Filing

Operations Trend

Revenue Growth81st percentile

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

$1.5M$1.0M$500K$0Revenue 2013: $25,773Expenses 2013: $8,667Net Income 2013: $17,1062013Revenue 2016: $229,328Expenses 2016: $215,244Net Income 2016: $14,0842016Revenue 2017: $218,358Expenses 2017: $216,788Net Income 2017: $1,5702017Revenue 2018: $300,389Expenses 2018: $291,019Net Income 2018: $9,3702018Revenue 2019: $357,979Expenses 2019: $353,439Net Income 2019: $4,5402019Revenue 2021: $493,754Expenses 2021: $408,954Net Income 2021: $84,8002021Revenue 2022: $888,967Expenses 2022: $660,080Net Income 2022: $228,8872022Revenue 2023: $758,108Expenses 2023: $734,047Net Income 2023: $24,0612023Revenue 2024: $948,377Expenses 2024: $869,641Net Income 2024: $78,7362024Revenue 2025: $1,284,498Expenses 2025: $963,908Net Income 2025: $320,5902025

Highlighted filing

2022

Revenue$888,967
Expenses$660,080
Net Income$228,887
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Jan 22, 2023
Return Version
2021v4.2
Gross Receipts
$888,967
Mission and Program Overview

Mission

Providence preparatory academy, inc. Exists to glorify god by partnering with parents, pointing students to christ and providing a classical christian education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$695,000-
Cash and Non-Interest-Bearing Accounts$182,330$189,708▲ $7,378
Total Assets$182,330$884,708▲ $702,378
Liabilities
Mortgage Notes Payable Secured by Investment Property-$486,500-
Accounts Payable and Accrued Expenses$17,845$4,836▼ $13,009
Total Liabilities$17,845$491,336▲ $473,491
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$164,485$393,372▲ $228,887
Total Net Assets Fund Balance$164,485$393,372▲ $228,887
Total Liabilities and Net Assets / Fund Balance$182,330$884,708▲ $702,378

Asset Categories

AssetBook ValueDepreciationBasis
Land$695,000-$695,000
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Kristen TriplettDirector
Trevor LoveDirector
Niels JorgensenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$278,604
Program Service Revenue
$599,200
Investment Income
$0
Other Revenue
$11,163
Change in Net Assets
$228,887
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$490,218
Other Expenses$169,862
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$452,658--$452,658
Occupancy$59,543--$59,543
Payroll Taxes$37,560--$37,560
All Other Expenses$27,805--$27,805
Fees for Services Legal$23,400--$23,400
Interest$10,358--$10,358
Advertising$7,738--$7,738
Conferences and Meetings$6,215--$6,215
Other Expenses$6,073--$6,073
Office Expenses$5,897--$5,897
Information Technology$4,377--$4,377
Fees for Services Management$3,500--$3,500
Insurance$3,143--$3,143
Total Functional Expenses$660,080$0$0$660,080
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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

Officer directors etc family relationship Part VI line 2

“Two of the directors are married.”

Form 990 governing body review Part VI line 11

“The board of directors reviewed the 990 in a meeting prior to mailing form 990.”

Conflict of interest policy compliance Part VI line 12C

“Annually the board of directors must disclose all related party relationships.”

Governing documents etc available to public Part VI line 19

“All documents of the organization are available upon request.”

Filing and Contact Details

Filer

Filer Name
Providence Preparatory Academy Inc
EIN
46-1213069
Address
2730 NORTHCHASE PARKWAY SE, WILMINGTON, NC 28405

Signing Officer

Name
Niels E Jorgensen
Title
Treasurer
Phone
9104319563
Signed
2023-01-22
Discuss with paid preparer
No

Organization Details

Formed
2013
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
4
Employees
13

Preparer

Firm
Goodson and Taylor CPAs
Address
763 S Kerr Ave, Wilmington, NC 28403
Preparer
Clement Goodson
Phone
9103924650
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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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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Goodson and Taylor CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0763 S Kerr Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilmington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028403
ReturnHeader/PreparerPersonGrp/PhoneNum09103924650
ReturnHeader/PreparerPersonGrp/PreparationDt02023-01-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Clement Goodson
ReturnHeader/ReturnTs02023-01-22T11:36:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NIELS
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JORGENSEN
ReturnHeader/TaxPeriodBeginDt02021-06-01
ReturnHeader/TaxPeriodEndDt02022-05-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

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

Open filing
Assets
$884,708
Liabilities
$491,336
Net assets
$393,372
Revenue
$888,967
Expenses
$660,080
Net income
$228,887
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.23$0.40$0.83$1.28$0.96$0.32
2024Detailed filing. Detailed filing data is available for this year.$1.37$0.88$0.49$0.95$0.87$0.08
2023Detailed filing. Detailed filing data is available for this year.$0.91$0.49$0.42$0.76$0.73$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.88$0.49$0.39$0.89$0.66$0.23
2021Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.18$0.49$0.41$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.07$0.01$0.06$0.36$0.35$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.06$0.01$0.05$0.30$0.29$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.04$0.22$0.22$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.04$0.23$0.22$0.01
2013Summary only. Only limited summary data is available for this year.$0.02$0.00$0.02$0.03$0.01$0.02