Civic Intelligence

Wake Education Partnership

990 • Fiscal year 2016 • EIN 58-1518182

Jul 01, 2015 to Jun 30, 2016 • Filed on Apr 27, 2017

706 Hillsborough StreetRaleigh, NC 27603

(919) 821-7609

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.50x

Higher debt load relative to assets than 82% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

77th percentile

0.16x

Higher debt load relative to revenue than 77% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Net Margin

35th percentile

-0.8%

Higher net margin than 35% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

93rd percentile

$146,533

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 21.8% of source-year revenue.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Asset Growth

82nd percentile

29%

Faster asset growth than 82% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

29th percentile

-7.6%

Faster revenue growth than 29% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Up

$222,044

Up $49,432 (+29%) from 2015

Net Assets

Down

$112,127

Down $5,384 (-4.6%) from 2015

Liabilities

Up

$109,917

Up $54,816 (+99%) from 2015

Revenue

Down

$671,059

Down $55,157 (-7.6%) from 2015

Expenses

Down

$676,443

Down $96,549 (-12%) from 2015

Net Income

Up

-$5,384

Up $41,392 (+88%) from 2015

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $288,380Liabilities 2011: $75,111Net Assets 2011: $213,2692011Assets 2012: $243,432Liabilities 2012: $105,556Net Assets 2012: $137,8762012Assets 2013: $220,480Liabilities 2013: $90,402Net Assets 2013: $130,0782013Assets 2014: $172,980Liabilities 2014: $17,655Net Assets 2014: $155,3252014Assets 2015: $172,612Liabilities 2015: $55,101Net Assets 2015: $117,5112015Assets 2016: $222,044Liabilities 2016: $109,917Net Assets 2016: $112,1272016Assets 2017: $2,671,540Liabilities 2017: $102,500Net Assets 2017: $2,569,0402017Assets 2018: $2,773,761Liabilities 2018: $138,498Net Assets 2018: $2,635,2632018Assets 2019: $2,756,110Liabilities 2019: $239,370Net Assets 2019: $2,516,7402019Assets 2020: $2,803,904Liabilities 2020: $239,429Net Assets 2020: $2,564,4752020Assets 2021: $3,463,245Liabilities 2021: $186,715Net Assets 2021: $3,276,5302021Assets 2022: $3,277,721Liabilities 2022: $261,195Net Assets 2022: $3,016,5262022Assets 2023: $3,265,124Liabilities 2023: $334,400Net Assets 2023: $2,930,7242023Assets 2024: $3,781,366Liabilities 2024: $355,834Net Assets 2024: $3,425,5322024

Highlighted filing

2016

Assets$222,044
Liabilities$109,917
Net Assets$112,127

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $697,2472011Expenses 2012: $747,3072012Revenue 2013: $724,652Expenses 2013: $739,060Net Income 2013: -$14,4082013Revenue 2014: $672,763Expenses 2014: $647,516Net Income 2014: $25,2472014Revenue 2015: $726,216Expenses 2015: $772,992Net Income 2015: -$46,7762015Revenue 2016: $671,059Expenses 2016: $676,443Net Income 2016: -$5,3842016Revenue 2017: $3,063,785Expenses 2017: $644,093Net Income 2017: $2,419,6922017Revenue 2018: $755,999Expenses 2018: $743,219Net Income 2018: $12,7802018Revenue 2019: $626,765Expenses 2019: $812,009Net Income 2019: -$185,2442019Revenue 2020: $538,962Expenses 2020: $716,483Net Income 2020: -$177,5212020Revenue 2021: $537,630Expenses 2021: $658,404Net Income 2021: -$120,7742021Revenue 2022: $589,411Expenses 2022: $849,415Net Income 2022: -$260,0042022Revenue 2023: $1,248,871Expenses 2023: $1,334,673Net Income 2023: -$85,8022023Revenue 2024: $1,951,969Expenses 2024: $1,605,208Net Income 2024: $346,7612024

Highlighted filing

2016

Revenue$671,059
Expenses$676,443
Net Income-$5,384
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Apr 27, 2017
Return Version
2015v3.0
Gross Receipts
$721,607
Mission and Program Overview

Mission

Helping business leaders, elected officials and educators work toward the common goal of increasing student performance measured against world-class academic standards. Focus areas: promoting best instructional practices, connecting education resources and engaging leaders to create an environment for learning and academic excellence in wake county.

Independent nonprofit dedicated to making world class schools possible in wake county through business and community involvement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$72,812$114,199▲ $41,387
Pledges and Grants Receivable$13,326$41,967▲ $28,641
Cash and Non-Interest-Bearing Accounts$53,564$35,624▼ $17,940
Prepaid Expenses and Deferred Charges$19,309$22,847▲ $3,538
Land, Buildings, and Equipment, Net$11,090$6,872▼ $4,218
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$172,612$222,044▲ $49,432
Other Assets Total$2,511$535▼ $1,976
Liabilities
Other Liabilities$0$71,350▲ $71,350
Accounts Payable and Accrued Expenses$55,101$38,567▼ $16,534
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$55,101$109,917▲ $54,816
Net Assets / Fund Balance
Temporarily Rstr Net Assets$96,308$134,401▲ $38,093
Permanently Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$21,203$-22,274▼ $43,477
Total Net Assets Fund Balance$117,511$112,127▼ $5,384
Total Liabilities and Net Assets / Fund Balance$172,612$222,044▲ $49,432

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,872$71,168$78,040
Other Land Buildings$0$37,467$37,467
Leasehold Improvements-$15,958$15,958
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
C Steve ParrottPresidentFT$129,800$16,733$146,533
Heather CampbellFinance DirectorPT$18,000-$18,000
Revenue and Support

Revenue Composition

Contributions and Grants
$692,383
Program Service Revenue
$0
Investment Income
$674
Other Revenue
$-21,998
All Other Contributions
$634,253
Change in Net Assets
$-5,384

Audited Revenue Reconciliation

Revenue per Audited Statements
$671,059
Revenue Not Reported on Form 990
$131,697
Total Revenue per Audited Statements
$802,756
Total Revenue per Form 990
$671,059
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$413,333
Other Expenses$212,549
Total Fundraising Expense$163,188
Grants and Similar Amounts Paid$50,561
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$129,173$2,905$56,762$188,840
Current Officers, Directors, Trustees, and Key Employees$111,007$20,619$32,907$164,533
Occupancy$34,515$5,501$15,772$55,788
Grants to Domestic Individuals$50,561--$50,561
Fees for Services Other$11,876$1,993$32,207$46,076
Other Employee Benefits$21,712$2,723$9,172$33,607
Payroll Taxes$17,911$1,723$6,719$26,353
Office Expenses$8,309$1,775$3,784$13,868
Advertising$4,527--$4,527
Depreciation Depletion$2,610$415$1,193$4,218
Conferences and Meetings$2,434$248$202$2,884
Interest-$2,427-$2,427
Other Expenses$145$1,094$239$1,478
Travel$595$45$254$894
Total Functional Expenses$469,460$43,795$163,188$676,443

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$808,140
Expenses per Audited Statements$676,443
Total Expenses per Form 990$676,443
Expenses Not Reported on Form 990$131,697
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$50,548
Fundraising Gross Income$20,550
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Stars of Educat$78,680$20,550$50,548$-29,998
Total Events$78,680$20,550$50,548$-29,998
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$71,350
Governance and Compliance

Governance Checklist

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

Compensation Review- Form 990, Part VI, Section B, Question 15

Review is performed by the board of directors chair using comparable non-profit executive salaries in the area and is shared with the executive committee for any decisions as to base salary and bonuses. The president reviews staff salaries also considering market rate for similar positions.

Public Documents Available-form 990, Part VI, Section C, Question 19

The organization's public documents are available upon request.

990 Review-form 990, Part VI, Section B, Line 11B

A draft copy is sent to the Finance Chair and the Finance Committee for review before the final copy is submitted. The board members receive an electronic copy before submission.

Conflict of Interest Policy-form 990, Part VI, Section B, Line 12C

Each board member reviews the policy annually and signs a statement disclosing if conflicts exist. Members understand they can recuse themselves from any vote where a conflict exists.

Filing and Contact Details

Filer

Filer Name
Wake Education Partnership
EIN
58-1518182
In Care Of
% HEATHER CAMPBELL
Phone
9198217609
Address
706 HILLSBOROUGH STREET, RALEIGH, NC 27603

Signing Officer

Name
C Steve Parrott
Title
President
Phone
9198217609
Signed
2017-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
C Steve Parrott
Formed
1983
Legal Domicile
Nc
Voting Board Members
40
Independent Board Members
39
Employees
7
Volunteers
60

Preparer

Firm
Batchelor Tillery & Roberts Llp
Address
3605 GLENWOOD AVENUE SUITE 350, RALEIGH, NC 27612
Preparer
Michelle W Lemanski
Phone
9197878212
Supplemental Narrative

Additional Explanations

Other Program Services Descriptions-form 990, Part III, Line 4D

Chamber relations - wakeed staff works with the wake county chambers of commerce to provide timely and relevant education content to their members. In october 2014, wakeed president steve parrott and wcpss superintendent dr. Jim merrill launched the wake education advisory council comprised of leaders from the 12 wake county chambers of commerce along with wakeed leadership. The council meets quarterly to discuss "hot" topics in public education and to explore opportunities for chambers to collaborate with wakeed and wcpss. World cafe - together, wakeed and wcpss plan and execute an annual world cafe event that puts teachers and principals of wcpss stem and global network schools at the table with wake county business volunteers. At this annual event, schools use focused networking time to brainstorm potential projects for classroom and school-wide engagement in stem and global studies. They discuss and explore potential school/business partnerships where business volunteers provide "time and talent" to supplement classroom instruction. 45 businesses and 45 schools were paired at biogen on january 5, 2016 to engage in discussion that led to engineering days, coding clubs, business immersion for students, professional speakers for classrooms, mentoring, etc. Summerstem - wakeed is expanding stem initiatives which includes connecting classroom experiences to stem knowledge and application through our world cafe program and providing professional development for 100 stem teachers and 50 schools annually in project-based learning, investigation in community college instruction in applied stem fields, and immersion with leading stem companies through our summerstem program. Wakeed was named 1 of 4 national finalists in 2016 for an excellence in public/private partnerships award from us2020 and the white house office of science and technology for these programs. Education forum - the annual education forum was conducted in partnership with the greater raleigh chamber of commerce. The morning event in june 2016 focused on the current state of education in north carolina and the vision for the future with business leaders, elected officials, and educators discussing significant changes needed to prepare students for college and career success. Micheal gilligan, the vp of strategic initiatives for achieve in washington, d.c., presented an interactive keynote on initiatives to advocate and advance the college and career agenda in the u.s. Informing the community - an important role of wakeed is to inform the public, business leaders and elected officials about what works in schools and classrooms to promote academic growth. We also provide clear, independent commentary and review of education policy issues. In context and wakeedge publications are used as primary communications channels and are distributed to an audience of over 6,000 people in wake county. In context is published twice per month and reports on key educational issues being addressed at the local, state, and national levels. It also provides important information regarding discussions and decisions coming from the school board and explains the impact on student achievement. Wakeedge is published as needed to provide the community updates on key legislation, budgetary decisions and issues affecting wcpss. This publication serves as an alert for stakeholders to engage with wakeed on advocacy efforts when a "call to action" is warranted. Pieces of gold - each year wakeed hosts the principals reception to honor those principals whose schools are selected to perform in pieces of gold, an annual performance celebrating the performing arts. This reception is held prior to the performance and is attended by the principals (~30), the wake county public schools superintendent, members of the board of education, the county commission, the city manager, members of wakeed's executive committee, wakeed's cornerstone investors, and the wakeed staff. Approximately 80 individuals gather

Financial Statement Notes

Fundraising Direct Expenses

Direct expenses related to fundraising events reported on 990, part viii, line 8b= $50,548.

Uncertain Tax Positions-schedule D, Part X, Line 2

Management of the partnership does not believe the financial statements include any uncertain tax positions.

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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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IRS990/Form990PartVIISectionAGrp/PersonNm4SCOTT DUDA
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IRS990/Form990PartVIISectionAGrp/PersonNm7SHARON D GUPTON
IRS990/Form990PartVIISectionAGrp/PersonNm8RUSSELL KILLEN
IRS990/Form990PartVIISectionAGrp/PersonNm9ROB BURLINGTON
IRS990/Form990PartVIISectionAGrp/PersonNm10JASON CHRISTIE
IRS990/Form990PartVIISectionAGrp/PersonNm11KATHERINE PEELE
IRS990/Form990PartVIISectionAGrp/PersonNm12MARION ROBINSON
IRS990/Form990PartVIISectionAGrp/PersonNm13WALTER TIPPETT
IRS990/Form990PartVIISectionAGrp/PersonNm14DOUG SPRECHER
IRS990/Form990PartVIISectionAGrp/PersonNm15MATT DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm16HARDIN ENGELHARDT
IRS990/Form990PartVIISectionAGrp/PersonNm17JOHN HUMMEL
IRS990/Form990PartVIISectionAGrp/PersonNm18CHRIS ISLEY
IRS990/Form990PartVIISectionAGrp/PersonNm19STEPHANIE JENSEN
IRS990/Form990PartVIISectionAGrp/PersonNm20MILES MACLEOD
IRS990/Form990PartVIISectionAGrp/PersonNm21ROD MALONE
IRS990/Form990PartVIISectionAGrp/PersonNm22SCOT MCALEXANDER
IRS990/Form990PartVIISectionAGrp/PersonNm23JAMIE ROYSTER
IRS990/Form990PartVIISectionAGrp/PersonNm24MITCH LOWER
IRS990/Form990PartVIISectionAGrp/PersonNm25STEVEN SLEE
IRS990/Form990PartVIISectionAGrp/PersonNm26SEPI SAIDI
IRS990/Form990PartVIISectionAGrp/PersonNm27JULIE SONG
IRS990/Form990PartVIISectionAGrp/PersonNm28MURIEL SUMMERS
IRS990/Form990PartVIISectionAGrp/PersonNm29CLEON UMPHREY
IRS990/Form990PartVIISectionAGrp/PersonNm30ROBERT BUHLER
IRS990/Form990PartVIISectionAGrp/PersonNm31DOUGLAS HORNBERGER
IRS990/Form990PartVIISectionAGrp/PersonNm32MONICA BARNES
IRS990/Form990PartVIISectionAGrp/PersonNm33MARCUS SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm34CARA GREENING
IRS990/Form990PartVIISectionAGrp/PersonNm35JIM HARTMANN
IRS990/Form990PartVIISectionAGrp/PersonNm36JIM MERRILL
IRS990/Form990PartVIISectionAGrp/PersonNm37JENNIFER PITTMAN
IRS990/Form990PartVIISectionAGrp/PersonNm38CHRISTINA O'NEILL
IRS990/Form990PartVIISectionAGrp/PersonNm39C STEVE PARROTT
IRS990/Form990PartVIISectionAGrp/PersonNm40HEATHER CAMPBELL
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt370
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt380
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt390
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt400
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.78$0.36$3.43$1.95$1.61$0.35
2023Detailed filing. Detailed filing data is available for this year.$3.27$0.33$2.93$1.25$1.33$0.09
2022Detailed filing. Detailed filing data is available for this year.$3.28$0.26$3.02$0.59$0.85$0.26
2021Detailed filing. Detailed filing data is available for this year.$3.46$0.19$3.28$0.54$0.66$0.12
2020Detailed filing. Detailed filing data is available for this year.$2.80$0.24$2.56$0.54$0.72$0.18
2019Detailed filing. Detailed filing data is available for this year.$2.76$0.24$2.52$0.63$0.81$0.19
2018Detailed filing. Detailed filing data is available for this year.$2.77$0.14$2.64$0.76$0.74$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.67$0.10$2.57$3.06$0.64$2.42
2016Detailed filing. Detailed filing data is available for this year.$0.22$0.11$0.11$0.67$0.68$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.17$0.06$0.12$0.73$0.77$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.17$0.02$0.16$0.67$0.65$0.03
2013Summary only. Only limited summary data is available for this year.$0.22$0.09$0.13$0.72$0.74$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.24$0.11$0.14$0.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$0.08$0.21$0.70