Civic Intelligence

Providence Preparatory Academy Inc

990 • Fiscal year 2024 • EIN 46-1213069

Jun 01, 2023 to May 31, 2024 • Filed on Oct 15, 2024

Organization Profileprovidencewilmington.com
702 Eastwood RoadWilmington, NC 28403

(910) 742-0712

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.64x

Higher debt load relative to assets than 83% of similar nonprofits.

2024 filings • NTEE B • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

90th percentile

0.93x

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

2024 filings • NTEE B • $1M-$5M nonprofits • Source year 2024

Net Margin

60th percentile

8.3%

Higher net margin than 60% of similar nonprofits.

2024 filings • NTEE B • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

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

2024 filings • NTEE B • $1M-$5M nonprofits • Source year 2024

Asset Growth

87th percentile

50%

Faster asset growth than 87% of similar nonprofits.

2024 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

70th percentile

25%

Faster revenue growth than 70% of similar nonprofits.

2024 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$1,371,973

Up $459,723 (+50%) from 2023

Net Assets

Up

$489,647

Up $72,214 (+17%) from 2023

Liabilities

Up

$882,326

Up $387,509 (+78%) from 2023

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin60th percentile

Revenue

Up

$948,377

Up $190,269 (+25%) from 2023

Expenses

Up

$869,641

Up $135,594 (+18%) from 2023

Net Income

Up

$78,736

Up $54,675 (+227%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth87th 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

2024

Assets$1,371,973
Liabilities$882,326
Net Assets$489,647
Open 2024 Filing

Operations Trend

Revenue Growth70th 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

2024

Revenue$948,377
Expenses$869,641
Net Income$78,736
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Oct 15, 2024
Return Version
2023v5.1
Gross Receipts
$948,377
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$695,000→ $0
Accounts Receivable$540$391,603▲ $391,063
Cash and Non-Interest-Bearing Accounts$216,710$281,602▲ $64,892
Total Assets$912,250$1,371,973▲ $459,723
Other Assets Total$0$3,768▲ $3,768
Liabilities
Mortgage Notes Payable Secured by Investment Property$486,500$486,500→ $0
Deferred Revenue$0$375,017▲ $375,017
Other Liabilities$3,889$13,126▲ $9,237
Accounts Payable and Accrued Expenses$4,428$7,683▲ $3,255
Total Liabilities$494,817$882,326▲ $387,509
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$417,433$489,647▲ $72,214
Total Net Assets Fund Balance$417,433$489,647▲ $72,214
Total Liabilities and Net Assets / Fund Balance$912,250$1,371,973▲ $459,723

Asset Categories

AssetBook ValueDepreciationBasis
Land$695,000-$695,000
Compensation and Service Providers
Top Officer Pay38th percentile

Board Members and Trustees

NameTitle
Brian TriplettChairman
Trevor LoveVice Chairman
Niels JorgensenDirector
Kristen TriplettSecretary
Tucker PolstonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$40,541
Program Service Revenue
$746,842
Investment Income
$5,354
Other Revenue
$155,640
All Other Contributions
$40,541
Change in Net Assets
$78,736
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$629,100
Other Expenses$240,541
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$550,578--$550,578
Occupancy$112,880--$112,880
Payroll Taxes$48,522--$48,522
Other Employee Benefits$30,000--$30,000
Interest$16,744--$16,744
Office Expenses$15,944--$15,944
Fees for Services Accounting$14,000--$14,000
Information Technology$9,406--$9,406
Advertising$4,566--$4,566
Insurance$4,484--$4,484
Other Expenses$1,820--$1,820
Total Functional Expenses$869,641$0$0$869,641
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$154,395
Fundraising Direct Expenses$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Events$154,395$154,395-$154,395
Total Events$154,395$154,395-$154,395
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal and NC Taxes$13,126
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

Form 990, Part VI, Section A, line 2

“Two of the directors are married.”

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

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

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

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

Form 990, Part VI, Section C, line 19

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

Filing and Contact Details

Filer

Filer Name
Providence Preparatory Academy
EIN
46-1213069
Phone
9107420712
Address
702 Eastwood Road, Wilmington, NC 28403

Signing Officer

Name
Brian Triplett
Title
Chairman
Phone
9107420712
Signed
2024-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Triplett
Formed
2013
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
43
Volunteers
30

Preparer

Firm
Earney & Company LLP
Address
710 Military Cutoff Road Suite 250, Wilmington, NC 28405
Preparer
Ryan Skuce CPA
Phone
9102569995
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“CPA Adjustment -6,522.”

Raw XML Appendix368 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Two of the directors are married.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The board of directors reviewed the 990 in a meeting prior to filing form 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Annually the board of directors must disclose all related party relationships.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All documents of the organization are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CPA Adjustment -6,522.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, line 9:
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0912250
IRS990/TotalAssetsEOYAmt01371973
IRS990/TotalAssetsGrp/BOYAmt0912250
IRS990/TotalAssetsGrp/EOYAmt01371973
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt040541
IRS990/TotalEmployeeCnt043
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0869641
IRS990/TotalFunctionalExpensesGrp/TotalAmt0869641
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0494817
IRS990/TotalLiabilitiesEOYAmt0882326
IRS990/TotalLiabilitiesGrp/BOYAmt0494817
IRS990/TotalLiabilitiesGrp/EOYAmt0882326
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0417433
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0489647
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0869641
IRS990/TotalProgramServiceRevenueAmt0746842
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0159749
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0748087
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0948377
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0912250
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01371973
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0702 Eastwood Road
IRS990/USAddress/CityNm0Wilmington
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028403
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0providencewilmington.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN TRIPLETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum09107420712
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Providence Preparatory Academy
ReturnHeader/Filer/BusinessNameControlTxt0PROV
ReturnHeader/Filer/EIN0461213069
ReturnHeader/Filer/PhoneNum09107420712
ReturnHeader/Filer/USAddress/AddressLine1Txt0702 Eastwood Road
ReturnHeader/Filer/USAddress/CityNm0Wilmington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028403
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561719839
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Earney & Company LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0710 Military Cutoff Road Suite 250
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilmington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028405
ReturnHeader/PreparerPersonGrp/PhoneNum09102569995
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Ryan Skuce CPA
ReturnHeader/ReturnTs02024-10-15T11:07:47-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-06-01
ReturnHeader/TaxPeriodEndDt02024-05-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,371,973
Liabilities
$882,326
Net assets
$489,647
Revenue
$948,377
Expenses
$869,641
Net income
$78,736
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