Civic Intelligence

Charlotte Country Day School

EIN 56-0623935 • 501(c)3 • Charlotte, NC

Profile

Through excellence in education, charlotte country day school develops the potential of each student by fostering intellectual curiosity, principled character, ethical leadership and a responsibility to serve. The key values and commitments are educational excellence, character, community, and service.

1440 Carmel RoadCharlotte, NC 28226

www. charlottecountryday.org

Siviq Scores

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

Liabilities / Assets

31st percentile

0.14x

Higher debt load relative to assets than 31% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Liabilities / Revenue

56th percentile

0.55x

Higher debt load relative to revenue than 56% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Net Margin

25th percentile

-2.0%

Higher net margin than 25% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Top Officer Pay

54th percentile

$925,202

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Asset Growth

29th percentile

1.7%

Faster asset growth than 29% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2024 to 2025

Revenue Growth

35th percentile

4.8%

Faster revenue growth than 35% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2024 to 2025

Assets

Up

$262,956,937

Up $4,347,357 (+1.7%) from 2024

Liabilities

Down

$37,018,621

Down $188,662 (-0.5%) from 2024

Net Assets

Up

$225,938,316

Up $4,536,019 (+2.0%) from 2024

Revenue

Up

$67,433,403

Up $3,078,846 (+4.8%) from 2024

Expenses

Up

$68,790,175

Up $1,581,016 (+2.4%) from 2024

Net Income

Up

-$1,356,772

Up $1,497,830 (+52%) from 2024

Trend Graphs

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $115,643,071Liabilities 2011: $33,584,473Net Assets 2011: $82,058,5982011Assets 2012: $114,768,532Liabilities 2012: $32,334,833Net Assets 2012: $82,433,6992012Assets 2013: $117,911,371Liabilities 2013: $32,118,699Net Assets 2013: $85,792,6722013Assets 2014: $123,178,838Liabilities 2014: $30,182,028Net Assets 2014: $92,996,8102014Assets 2015: $126,973,723Liabilities 2015: $30,703,341Net Assets 2015: $96,270,3822015Assets 2016: $133,500,591Liabilities 2016: $30,161,559Net Assets 2016: $103,339,0322016Assets 2017: $154,639,761Liabilities 2017: $32,084,045Net Assets 2017: $122,555,7162017Assets 2018: $175,898,476Liabilities 2018: $42,764,151Net Assets 2018: $133,134,3252018Assets 2019: $180,296,590Liabilities 2019: $44,402,383Net Assets 2019: $135,894,2072019Assets 2020: $213,319,665Liabilities 2020: $50,593,705Net Assets 2020: $162,725,9602020Assets 2021: $226,176,676Liabilities 2021: $45,656,035Net Assets 2021: $180,520,6412021Assets 2022: $247,639,345Liabilities 2022: $38,284,388Net Assets 2022: $209,354,9572022Assets 2023: $255,177,582Liabilities 2023: $38,199,940Net Assets 2023: $216,977,6422023Assets 2024: $258,609,580Liabilities 2024: $37,207,283Net Assets 2024: $221,402,2972024Assets 2025: $262,956,937Liabilities 2025: $37,018,621Net Assets 2025: $225,938,3162025

Highlighted filing

2025

Assets$262,956,937
Liabilities$37,018,621
Net Assets$225,938,316

Operations Trend

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

$100M$50M$0-$50MExpenses 2011: $37,095,6302011Expenses 2012: $38,058,9202012Expenses 2013: $38,974,2022013Revenue 2014: $46,888,390Expenses 2014: $39,835,052Net Income 2014: $7,053,3382014Revenue 2015: $44,426,843Expenses 2015: $41,168,758Net Income 2015: $3,258,0852015Revenue 2016: $51,412,905Expenses 2016: $43,901,053Net Income 2016: $7,511,8522016Revenue 2017: $64,124,431Expenses 2017: $45,289,276Net Income 2017: $18,835,1552017Revenue 2018: $56,542,678Expenses 2018: $46,079,317Net Income 2018: $10,463,3612018Revenue 2019: $52,320,055Expenses 2019: $49,126,407Net Income 2019: $3,193,6482019Revenue 2020: $77,552,004Expenses 2020: $49,843,815Net Income 2020: $27,708,1892020Revenue 2021: $57,558,870Expenses 2021: $53,533,155Net Income 2021: $4,025,7152021Revenue 2022: $84,569,309Expenses 2022: $55,239,225Net Income 2022: $29,330,0842022Revenue 2023: $65,113,849Expenses 2023: $61,683,409Net Income 2023: $3,430,4402023Revenue 2024: $64,354,557Expenses 2024: $67,209,159Net Income 2024: -$2,854,6022024Revenue 2025: $67,433,403Expenses 2025: $68,790,175Net Income 2025: -$1,356,7722025

Highlighted filing

2025

Revenue$67,433,403
Expenses$68,790,175
Net Income-$1,356,772

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$263$37.0$226$67.4$68.8$1.36
2024Detailed filing. Detailed filing data is available for this year.$259$37.2$221$64.4$67.2$2.85
2023Detailed filing. Detailed filing data is available for this year.$255$38.2$217$65.1$61.7$3.43
2022Detailed filing. Detailed filing data is available for this year.$248$38.3$209$84.6$55.2$29.3
2021Detailed filing. Detailed filing data is available for this year.$226$45.7$181$57.6$53.5$4.03
2020Detailed filing. Detailed filing data is available for this year.$213$50.6$163$77.6$49.8$27.7
2019Detailed filing. Detailed filing data is available for this year.$180$44.4$136$52.3$49.1$3.19
2018Detailed filing. Detailed filing data is available for this year.$176$42.8$133$56.5$46.1$10.5
2017Detailed filing. Detailed filing data is available for this year.$155$32.1$123$64.1$45.3$18.8
2016Detailed filing. Detailed filing data is available for this year.$134$30.2$103$51.4$43.9$7.51
2015Detailed filing. Detailed filing data is available for this year.$127$30.7$96.3$44.4$41.2$3.26
2014Detailed filing. Detailed filing data is available for this year.$123$30.2$93.0$46.9$39.8$7.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$118$32.1$85.8$39.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$115$32.3$82.4$38.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$116$33.6$82.1$37.1
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$72,675,423
Mission and Program Overview

Mission

Through excellence in education, charlotte country day school develops the potential of each student by fostering intellectual curiosity, principled character, ethical leadership and a responsibility to serve. The key values and commitments are educational excellence, character, community, and service.

Charlotte country day school provides comprehensive educational programs for grades junior kindergarten through grade 12 on a non-discriminatory basis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$145,243,198$143,041,291▼ $2,201,907
Investments Other Securities$55,247,143$54,246,158▼ $1,000,985
Cash and Non-Interest-Bearing Accounts$24,414,204$32,924,330▲ $8,510,126
Investments in Publicly Traded Securities$20,859,425$22,541,859▲ $1,682,434
Savings and Temporary Cash Investments$1,899,795$5,822,549▲ $3,922,754
Pledges and Grants Receivable$2,464,679$2,383,142▼ $81,537
Prepaid Expenses and Deferred Charges$784,425$918,105▲ $133,680
Accounts Receivable$6,956,715$619,858▼ $6,336,857
Inventories for Sale or Use$171,587$171,409▼ $178
Total Assets$258,609,580$262,956,937▲ $4,347,357
Other Assets Total$568,409$288,236▼ $280,173
Liabilities
Tax Exempt Bond Liabilities$21,605,453$20,815,255▼ $790,198
Deferred Revenue$9,062,394$9,603,406▲ $541,012
Accounts Payable and Accrued Expenses$6,210,139$6,407,145▲ $197,006
Other Liabilities$329,297$192,815▼ $136,482
Total Liabilities$37,207,283$37,018,621▼ $188,662
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$152,747,650$152,350,325▼ $397,325
Net Assets With Donor Restrictions$68,654,647$73,587,991▲ $4,933,344
Total Net Assets Fund Balance$221,402,297$225,938,316▲ $4,536,019
Total Liabilities and Net Assets / Fund Balance$258,609,580$262,956,937▲ $4,347,357

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$101,226,145$48,947,267$150,173,412
Land$33,055,686-$33,055,686
Equipment$6,519,897$15,409,718$21,929,615
Other Land Buildings$2,239,563$2,031,406$4,270,969
Other Securities$54,246,158--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$71,386,810$263,582▲ $6,795,439$1,999,660$75,595,831
2023$65,131,140$1,681,564▲ $7,325,306$1,950,340$71,386,810
2022$62,249,581$1,343,330▲ $3,636,629$1,779,131$65,131,140
2021$62,524,697$3,704,548▼ $1,039,009$1,888,089$62,649,581
2020$50,735,007$838,846▲ $13,471,494$1,933,874$62,524,697
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
David L MancosCFO & Interim Head of School (12/23 - 6/25)FT$362,185$563,017$925,202
Marcel GauthierFormer Head of School-$604,200$43,966$648,166
Katharine H AtkinsDirector of AdvancementFT$227,900$87,219$315,119
Scott M WaybrightAssistant Head of School Thru 12/24FT$211,602$57,500$269,102
William MulcahyHead of Lower SchoolFT$173,793$79,213$253,006
Warren M SepkowitzHead of Middle SchoolFT$210,987$35,401$246,388
Gregory J WaltersDirector of Facilities and OperationsFT$204,518$24,606$229,124
Gregory J WaltersDirector of Facilities and Operation-$202,045$27,079$229,124

Highest Paid Contractors

ContractorServicesLocationCompensation
Aladdin Food Management Services LLCFood Management2400 ANSYS DRIVE SUITE 404, Canonburg, PA 15317$1,935,538
The Johnson GroupJanitorial4215-K STUART ANDREW BLVD, Charlotte, NC 28217$811,628
Balfour Beatty ConstructionConstruction1930 CAMDEN ROAD, Charlotte, NC 28203$799,371
ClarkpowellAv Equipment & Installation110 REGENT DRIVE, Winston Salem, NC 27103$725,920
Showalter Construction Co INCConstruction620 W 24TH STREET, Charlotte, NC 28206$588,699
Revenue and Support

Revenue Composition

Contributions and Grants
$6,697,723
Program Service Revenue
$56,955,626
Investment Income
$3,410,319
Other Revenue
$369,735
All Other Contributions
$6,563,981
Change in Net Assets
$-1,356,772

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded42$317,019Fair Market Value (FMV)
Total Noncash Contributions42$317,019-

Audited Revenue Reconciliation

Revenue per Audited Statements
$67,473,020
Revenue Not Reported on Financial Statements
$-39,617
Revenue Not Reported on Form 990
$1,547,171
Other Revenue Adjustments
$-510,538
Total Revenue per Audited Statements
$69,020,191
Total Revenue per Form 990
$67,433,403
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$42,848,056
Other Expenses$21,596,499
Grants and Similar Amounts Paid$4,345,620
Total Fundraising Expense$3,244,631
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$25,838,461$2,092,763$1,319,324$29,250,548
Other Employee Benefits$7,075,399$998,227$312,532$8,386,158
Depreciation Depletion$4,963,767$431,242$205,541$5,600,550
Grants to Domestic Individuals$4,345,620--$4,345,620
Fees for Services Other$2,850,480$592,697$143,425$3,586,602
Payroll Taxes$1,908,393$197,426$103,199$2,209,018
Current Officers, Directors, Trustees, and Key Employees$277,561$1,018,247$277,561$1,573,369
Occupancy$1,422,517$100,506$47,903$1,570,926
Pension Plan Contributions$1,301,524$46,046$81,393$1,428,963
Information Technology$1,099,859$85,628$65,036$1,250,523
Office Expenses$371,282$495,137$178,133$1,044,552
Conferences and Meetings$594,328$95,308$227,192$916,828
Interest$633,421$55,031$26,228$714,680
Insurance$39,380$585,247-$624,627
Travel$487,055$11,716$9,583$508,354
Fees for Service Investment Mgmnt Fees-$470,921-$470,921
All Other Expenses$180,203$87,614$81,077$348,894
Other Expenses$348,534$101,298$48,279$348,534
Fees for Services Legal-$254,612-$254,612
Advertising-$2,735$118,225$120,960
Fees for Services Accounting-$80,487-$80,487
Total Functional Expenses$57,742,656$7,802,888$3,244,631$68,790,175

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$68,790,175
Total Expenses per Audited Statements$64,484,172
Expenses per Audited Statements$63,973,634
Expenses Not Reported on Financial Statements$4,816,541
Other Expense Adjustments$4,345,620
Expenses Not Reported on Form 990$510,538
International Activity

International Summary

Offices
0
Employees
0
Spending
$30,324,391

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Investments---$29,930,676
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumProgram ServicesInternational Studies England Cultural Exchange, Italy Renaissance Experience, France Language & Culture Experience, and Spain Language & Culture Experience00$267,687
East Asia and the Pacific - Australia, Brunei, Burma, Cambodia,Program ServicesInternational Studies China Cultural Experience00$76,777
Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas,Program ServicesInternational Studies Costa Rica Sister School Exchange00$35,803
North America - Canada and Mexico, But Not the United StatesProgram ServicesInternational Studies Quebec Sister School Exchange00$13,448
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$352,629
Fundraising Direct Expenses$212,215
Gaming Gross Income$135,564
Gaming Direct Expenses$35,054
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Big Saturday$238,448$154,648$44,865$109,783
Golf Outing$51,560$15,566$175$15,391
Total Events$486,371$352,629$212,215$140,414
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Financing Lease Liability$142,815
Payable to Tfi$50,000

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority2015-09-01$26,974,489Refund prior issue and school facility improvements

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$26,974,489$16,635,000$4,031,643$339,489

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
Yes
Corrective action procedures
Yes
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
No

Governance Explanations

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

The finance committee reviews the irs form 990 with the chief financial officer before the form is filed. The irs form 990 is then provided to board members prior to filing. Members are encouraged to review the form and direct any questions to the chair of the finance committee.

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

The board maintains a conflict of interest policy which is reviewed and signed on an annual basis. All trustees and other interested persons are required to read, complete and sign the conflict of interest policy form annually. If an issue is to be decided by the board that involves a potential conflict of interest for a board member or other interested persons, it is the responsibility of the board member or other interested persons to: (1) identify the potential conflict of interest so that board members who are voting on a decision are aware that another member's interests are being affected; (2) not participate in the discussion of the program, issue or motion being considered; and, (3) be recused during the vote on the motion.

Form 990, Part VI, Section B, Line 15

The school has a head's compensation committee. The committee annually reviews benchmark compensation data from several sources such as national association of independent schools (nais) and independent school data exchange (index). The committee analyzes data from these and other organizations in order to make a recommendation to the board of trustees regarding the head's compensation. The board has approval authority for the head's compensation and the decision is documented annually. The head of school determines and establishes salaries for all other top management and key employees. He uses data from these same organizations (nais & index) to assist in establishing top management and key employee salaries. All salary increases must be within the budget as approved by the board of trustees, and the board monitors the budget to ensure compliance.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy and audited financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
Charlotte Country Day School
EIN
56-0623935
Phone
7049434500
Address
1440 CARMEL ROAD, CHARLOTTE, NC 28226

Signing Officer

Name
David L Mancos
Title
Chief Financial Officer
Phone
7049434500
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Tara Christie Kinsey
Formed
1941
Legal Domicile
Nc
Voting Board Members
26
Independent Board Members
26
Employees
728
Volunteers
600

Preparer

Firm
Elliott Davis Advisory LLC
Address
500 EAST MOREHEAD STREET SUITE 700, CHARLOTTE, NC 28202
Preparer
Janice a Ratica
Phone
7043338881
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in fair value of interest rate swaps -280,173.

FORM 990, PART XII, LINE 2C:

PROCESS HAS NOT CHANGED.

Financial Statement Notes

PART V, LINE 4:

Endowment funds are used for scholarships and financial aid, faculty and staff support, curriculum and program support and general operating expenses, such as campus and facility maintenance. The percentage reported for permanent endowments includes amounts that must be maintained in perpetuity as well as accumulated earnings on such amounts that have not yet been appropriated for expenditure.

PART X, LINE 2:

Country day is exempt from federal income tax and applicable state statutes under the provisions of section 501(c)(3) of the internal revenue code ("irc"). Accordingly, no provision has been made for income taxes in the financial statements. In accordance with irc regulations, country day is taxed on unrelated business income, which consists of earnings from activities not related to the exempt purpose of the school. Management has evaulated the effect of guidance surrounding uncertain tax positions and concluded that country day had no significant financial statement exposure to uncertain tax positions at june 30, 2025 and 2024.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid shown net of tuition on financials -4,345,620. Change in fair value of interest rate swaps -280,173.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Special event and gaming expenses -247,269. Cost of goods sold -263,269.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event and gaming expenses 247,269. Cost of goods sold 263,269.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid shown net of tuition on financials 4,345,620.

Raw XML AppendixShowing 400 of 1,113 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/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1THE JOHNSON GROUP
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IRS990/Desc0INSTRUCTIONAL: FUNDS WERE USED TO PROVIDE COMPREHENSIVE EDUCATIONAL PROGRAMS TO APPROXIMATELY 1,740 STUDENTS IN GRADES JUNIOR KINDERGARTEN THROUGH GRADE 12.
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IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17LIFE TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18LIFE TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt20VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt21VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt22VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt23VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt24SECRETARY-TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt25CFO & INTERIM HOS (12/23 - 6/25)
IRS990/Form990PartVIISectionAGrp/TitleTxt26ASSISTANT HEAD OF SCHOOL THRU 12/24
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR OF ADVANCEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt28HEAD OF MIDDLE SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR OF FACILITIES AND OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt30HEAD OF LOWER SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt31FORMER HEAD OF SCHOOL
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