Civic Intelligence

Wake Gifted Academy Inc

990 • Fiscal year 2016 • EIN 47-1164393

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 08, 2016

Organization Profile
PO Box 5632Cary, NC 27512

(919) 389-2494

Siviq Scores

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

Liabilities / Assets

96th percentile

1.38x

Higher debt load relative to assets than 96% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

94th percentile

0.81x

Higher debt load relative to revenue than 94% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

30th percentile

-5.3%

Higher net margin than 30% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

96th percentile

$68,125

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 27.4% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets96th percentile

Assets

$145,586

No earlier filing loaded for comparison.

Net Assets

-$55,635

No earlier filing loaded for comparison.

Liabilities

$201,221

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin30th percentile

Revenue

$248,259

No earlier filing loaded for comparison.

Expenses

$261,305

No earlier filing loaded for comparison.

Net Income

-$13,046

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$300K$200K$100K$0-$100KAssets 2016: $145,586Liabilities 2016: $201,221Net Assets 2016: -$55,6352016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2016

Assets$145,586
Liabilities$201,221
Net Assets-$55,635
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300K$200K$100K$0-$100KRevenue 2016: $248,259Expenses 2016: $261,305Net Income 2016: -$13,0462016Revenue 2017: $275,098Expenses 2017: $219,114Net Income 2017: $55,9842017

Highlighted filing

2016

Revenue$248,259
Expenses$261,305
Net Income-$13,046
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 8, 2016
Return Version
2015v3.0
Gross Receipts
$248,259
Mission and Program Overview

Mission

To foster the intellectual growth and development of academically gifted and high potential students through the delivery of scholastically rigorous lessons, rich extensive activities, and a curriculum that incorporates the complexity, depth and pacing necessary to address students' educational and emotional needs.

To foster the intellectual growth and development of academically gifted and high potential students through the delivery of scholastically regorous lessons, rich extensive activities, and a curriculum that incorporates the complexity, depth and pacing necessary to address students' educational and emotional needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$116,510-
Land, Buildings, and Equipment, Net-$24,824-
Accounts Receivable-$3,252-
Total Assets$0$145,586▲ $145,586
Other Assets Total-$1,000-
Liabilities
Other Liabilities-$111,303-
Unsecured Notes Loans Payable$42,589$89,918▲ $47,329
Total Liabilities$42,589$201,221▲ $158,632
Net Assets / Fund Balance
Unrestricted Net Assets$-42,589$-55,635▼ $13,046
Total Net Assets Fund Balance$-42,589$-55,635▼ $13,046
Total Liabilities and Net Assets / Fund Balance$0$145,586▲ $145,586

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$24,824$1,437$26,261
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleBaseTotal
Alissa WoodExecutive Di$68,125$68,125

Board Members and Trustees

NameTitle
Alison MedlinBoard Member
Julie HendricksBoard Member
Karen CloningerBoard Member
Sherry PresnallBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$589
Program Service Revenue
$237,423
Investment Income
$496
Other Revenue
$9,751
Change in Net Assets
$-13,046
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$170,045
Other Expenses$91,260
Total Fundraising Expense$1,701
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$123,619$31,296$1,565$156,480
Fees for Services Other$51,932$7,542-$59,474
Occupancy$20,562$5,141-$25,703
Payroll Taxes$10,716$2,713$136$13,565
Fees for Services Accounting$2,876$719-$3,595
Depreciation Depletion$1,437--$1,437
Other Expenses-$894-$894
Interest$126$31-$157
Total Functional Expenses$211,268$48,336$1,701$261,305
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$9,751
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
Tuition Paid in Advance$92,515
Note Payable-bus$11,389
Payroll Taxes Payable$6,827
Penalties Payable$536
Interest Payable$36
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Wake Gifted Academy Inc
EIN
47-1164393
Phone
9193892494
Address
PO BOX 5632, CARY, NC 27512

Signing Officer

Name
Alissa Wood
Title
Executive Director
Phone
9193892494
Signed
2016-02-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alissa Wood
Formed
2014
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
4
Employees
14

Preparer

Firm
HOOVER & HOOVER CPA'S
Address
PO BOX 4604, CARY, NC 27519
Preparer
Rebecca Hoover CPA
Phone
9198593343
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To foster the intellectual growth and development of academically gifted and high potential students through the delivery of scholastically rigorous lessons, rich extensive activities, and a curriculum that incorporates the complexity, depth and pacing necessary to address students' educational and emotional needs.”

Form 990, Page 2, Part III, Line 4D

“Teaching academically gifted students”

Form 990, Part IX, Line 11G

“Bank charges 34 8 0 outside contract services 2,392 598 0 advertising 7,159 1,790 0 books, subscriptions, referen 3,474 0 0 contribution 133 0 0 classroom supplies 13,986 0 0 dues & subscriptions 138 553 0 employee expenses 426 107 0 events 3,314 829 0 field trips, speakers 1,699 0 0 printing & copying 315 79 0 student meals 3,181 0 0 uniforms 1,371 0 0 insurance 4,446 1,111 0 conferences and meetings 1,454 364 0 website 339 85 0 office 8,071 2,018 0”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO FOSTER THE INTELLECTUAL GROWTH AND DEVELOPMENT OF ACADEMICALLY GIFTED AND HIGH POTENTIAL STUDENTS THROUGH THE DELIVERY OF SCHOLASTICALLY RIGOROUS LESSONS, RICH EXTENSIVE ACTIVITIES, AND A CURRICULUM THAT INCORPORATES THE COMPLEXITY, DEPTH AND PACING NECESSARY TO ADDRESS STUDENTS' EDUCATIONAL AND EMOTIONAL NEEDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TEACHING ACADEMICALLY GIFTED STUDENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BANK CHARGES 34 8 0 OUTSIDE CONTRACT SERVICES 2,392 598 0 ADVERTISING 7,159 1,790 0 BOOKS, SUBSCRIPTIONS, REFEREN 3,474 0 0 CONTRIBUTION 133 0 0 CLASSROOM SUPPLIES 13,986 0 0 DUES & SUBSCRIPTIONS 138 553 0 EMPLOYEE EXPENSES 426 107 0 EVENTS 3,314 829 0 FIELD TRIPS, SPEAKERS 1,699 0 0 PRINTING & COPYING 315 79 0 STUDENT MEALS 3,181 0 0 UNIFORMS 1,371 0 0 INSURANCE 4,446 1,111 0 CONFERENCES AND MEETINGS 1,454 364 0 WEBSITE 339 85 0 OFFICE 8,071 2,018 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027512
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561696417
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOOVER & HOOVER CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 4604
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CARY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027519
ReturnHeader/PreparerPersonGrp/PhoneNum09198593343
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0REBECCA HOOVER CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-02-13T08:40:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$145,586
Liabilities
$201,221
Net assets
-$55,635
Revenue
$248,259
Expenses
$261,305
Net income
-$13,046
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$2.75$2.19$0.56
2016Detailed filing. Detailed filing data is available for this year.$1.46$2.01$0.56$2.48$2.61$0.13