Civic Intelligence

Wilson Preparatory Academy

EIN 46-4558935 • 501(c)3 • Wilson, NC

Profile

Operation of a public charter school.

2755 Tilghman Road NWilson, NC 27896

www.wilsonprep.org

Siviq Scores

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

Liabilities / Assets

51st percentile

0.67x

Higher debt load relative to assets than 51% of similar nonprofits.

NTEE B29 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

70th percentile

1.68x

Higher debt load relative to revenue than 70% of similar nonprofits.

NTEE B29 • $10M-$25M nonprofits • Source year 2024

Net Margin

54th percentile

1.4%

Higher net margin than 54% of similar nonprofits.

NTEE B29 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

29th percentile

$0

Higher top officer pay than 29% of similar nonprofits.

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

NTEE B29 • $10M-$25M nonprofits • Source year 2024

Asset Growth

37th percentile

-2.3%

Faster asset growth than 37% of similar nonprofits.

NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

9th percentile

-6.2%

Faster revenue growth than 9% of similar nonprofits.

NTEE B29 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Down

$23,266,197

Down $539,420 (-2.3%) from 2023

Liabilities

Down

$15,635,045

Down $669,043 (-4.1%) from 2023

Net Assets

Up

$7,631,152

Up $129,623 (+1.7%) from 2023

Revenue

Down

$9,296,520

Down $619,189 (-6.2%) from 2023

Expenses

Down

$9,166,897

Down $330,556 (-3.5%) from 2023

Net Income

Down

$129,623

Down $288,633 (-69%) from 2023

Trend Graphs

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2015: $95,981Liabilities 2015: $31,519Net Assets 2015: $64,4622015Assets 2016: $322,276Liabilities 2016: $64,489Net Assets 2016: $257,7872016Assets 2017: $941,789Liabilities 2017: $62,813Net Assets 2017: $878,9762017Assets 2018: $1,538,452Liabilities 2018: $201,637Net Assets 2018: $1,336,8152018Assets 2019: $18,252,079Liabilities 2019: $15,922,871Net Assets 2019: $2,329,2082019Assets 2020: $19,252,767Liabilities 2020: $15,746,078Net Assets 2020: $3,506,6892020Assets 2021: $22,528,439Liabilities 2021: $17,155,039Net Assets 2021: $5,373,4002021Assets 2022: $23,762,699Liabilities 2022: $16,679,426Net Assets 2022: $7,083,2732022Assets 2023: $23,805,617Liabilities 2023: $16,304,088Net Assets 2023: $7,501,5292023Assets 2024: $23,266,197Liabilities 2024: $15,635,045Net Assets 2024: $7,631,1522024

Highlighted filing

2024

Assets$23,266,197
Liabilities$15,635,045
Net Assets$7,631,152

Operations Trend

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

$15M$10M$5.0M$0Revenue 2015: $2,547,983Expenses 2015: $2,483,521Net Income 2015: $64,4622015Revenue 2016: $3,245,848Expenses 2016: $3,052,523Net Income 2016: $193,3252016Revenue 2017: $4,364,402Expenses 2017: $3,743,213Net Income 2017: $621,1892017Revenue 2018: $5,568,646Expenses 2018: $5,110,807Net Income 2018: $457,8392018Revenue 2019: $7,122,571Expenses 2019: $6,130,178Net Income 2019: $992,3932019Revenue 2020: $7,506,787Expenses 2020: $6,329,306Net Income 2020: $1,177,4812020Revenue 2021: $9,322,608Expenses 2021: $7,455,897Net Income 2021: $1,866,7112021Revenue 2022: $10,216,805Expenses 2022: $8,506,932Net Income 2022: $1,709,8732022Revenue 2023: $9,915,709Expenses 2023: $9,497,453Net Income 2023: $418,2562023Revenue 2024: $9,296,520Expenses 2024: $9,166,897Net Income 2024: $129,6232024

Highlighted filing

2024

Revenue$9,296,520
Expenses$9,166,897
Net Income$129,623

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 5, 2025
Return Version
2023v6.0
Gross Receipts
$9,296,520
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$18,091,221$17,294,739▼ $796,482
Cash and Non-Interest-Bearing Accounts$4,582,865$4,889,972▲ $307,107
Accounts Receivable$92,873$52,510▼ $40,363
Prepaid Expenses and Deferred Charges$26,908$17,226▼ $9,682
Total Assets$23,805,617$23,266,197▼ $539,420
Other Assets Total$1,011,750$1,011,750→ $0
Liabilities
Tax Exempt Bond Liabilities$14,560,000$14,260,000▼ $300,000
Mortgage Notes Payable Secured by Investment Property$1,070,869$775,140▼ $295,729
Accounts Payable and Accrued Expenses$198,616$337,263▲ $138,647
Other Liabilities$474,603$261,642▼ $212,961
Deferred Revenue-$1,000-
Total Liabilities$16,304,088$15,635,045▼ $669,043
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,501,529$7,631,152▲ $129,623
Total Net Assets Fund Balance$7,501,529$7,631,152▲ $129,623
Total Liabilities and Net Assets / Fund Balance$23,805,617$23,266,197▼ $539,420

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,461,809$3,133,905$19,595,714
Equipment$832,930$705,554$1,538,484
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dr Curtis LeeChairman
Dennis ParkerVice Chairman
Quentin SumnerBoard Member
Renee SmithSecretary
Ashley AmmonsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$695,668
Program Service Revenue
$7,590,230
Investment Income
$0
Other Revenue
$1,010,622
All Other Contributions
$400
Change in Net Assets
$129,623

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,296,520
Total Revenue per Audited Statements
$9,296,520
Total Revenue per Form 990
$9,296,520
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,585,755
Other Expenses$4,581,142
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,222,251$631,075-$3,853,326
All Other Expenses$1,568,353--$1,568,353
Occupancy$1,021,934$255,484-$1,277,418
Depreciation Depletion$578,364--$578,364
Other Employee Benefits$353,358$27,929-$381,287
Payroll Taxes$237,434$37,323-$274,757
Pension Plan Contributions$53,286$23,099-$76,385
Fees for Services Legal-$52,907-$52,907
Insurance-$51,895-$51,895
Other Expenses$40,971$19,220-$40,971
Interest-$25,223-$25,223
Fees for Services Accounting-$8,160-$8,160
Advertising-$5,434-$5,434
Total Functional Expenses$7,669,321$1,497,576$0$9,166,897

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,166,897
Total Expenses per Audited Statements$9,166,897
Total Expenses per Form 990$9,166,897
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
Federal income taxes$138,199
Compensated Absences$123,443
Accrued salaries payable-

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority2019-02-26$15,190,354Building School Facilities

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$15,190,354---

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, Part VI, Section B, Line 11B

The board treasurer reviews the 990 and reports to the board of directors prior to filing.

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

Each board member is required to execute a conflict of interest statement and confidentiality agreement annually. Any potential conflict of interest is reviewed and resolved by the board of directors.

Form 990, Part VI, Section B, Line 15A

Compensation for top officials is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individuals.

Form 990, Part VI, Section B, Line 15B

Compensation for key employees is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individuals. There are no officers on the board of directors receiving compensation.

Form 990, Part VI, Section C, Line 19

Governing documents, school policies and financial statements are available for viewing by the public at the Schools office upon request.

Form 990, Part VI, Section A, Line 3

Acadia NorthStar, LLC - accounting and business services

Filing and Contact Details

Filer

Filer Name
Wilson Preparatory Academy
EIN
46-4558935
Phone
2522942533
Address
2755 Tilghman Road N, Wilson, NC 27896

Signing Officer

Name
Daryl Woodard
Title
Executive Director
Phone
2522942533
Signed
2025-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daryl Woodard
Formed
2012
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
116

Preparer

Firm
Rebekah Barr CPA PC
Address
2505-B Nash Street NW, Wilson, NC 27896
Preparer
Rebekah T Barr
Phone
2522946920
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IRS990/RoyaltiesGrp/TotalAmt00
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt03133905
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt019595714
IRS990ScheduleD/EquipmentGrp/BookValueAmt0832930
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0705554
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01538484
IRS990ScheduleD/ExpensesSubtotalAmt09166897
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0138199
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1123443
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Compensated Absences
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Accrued salaries payable
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt09296520
IRS990ScheduleD/TotalBookValueLandBuildingsAmt017294739
IRS990ScheduleD/TotalExpensesPerForm990Amt09166897
IRS990ScheduleD/TotalLiabilityAmt0261642
IRS990ScheduleD/TotalRevenuePerForm990Amt09296520
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09296520
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt09166897
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0North Carolina charter schools are funded by the State and Local governments. The School also receives various federal grants
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd0false
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd0false
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd0false
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02019-02-26
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0273866124
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt015190354
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd0false
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd0true
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board treasurer reviews the 990 and reports to the board of directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each board member is required to execute a conflict of interest statement and confidentiality agreement annually. Any potential conflict of interest is reviewed and resolved by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation for top officials is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individuals.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation for key employees is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individuals. There are no officers on the board of directors receiving compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Governing documents, school policies and financial statements are available for viewing by the public at the Schools office upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Acadia NorthStar, LLC - accounting and business services
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 B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section A, Line 3
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt014260000
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt023266197
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt07669321
IRS990/TotalFunctionalExpensesGrp/TotalAmt09166897
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IRS990/TotalLiabilitiesGrp/EOYAmt015635045
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023266197
IRS990/TravelGrp/TotalAmt00

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