Civic Intelligence

Wake Education Partnership

990 • Fiscal year 2017 • EIN 58-1518182

Jul 01, 2016 to Jun 30, 2017 • Filed on May 10, 2018

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

37th percentile

0.04x

Higher debt load relative to assets than 37% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

35th percentile

0.03x

Higher debt load relative to revenue than 35% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Net Margin

98th percentile

79%

Higher net margin than 98% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

76th percentile

$141,584

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2017 filings • NTEE B • $1M-$5M nonprofits • Source year 2017

Asset Growth

99th percentile

1103%

Faster asset growth than 99% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

98th percentile

357%

Faster revenue growth than 98% of similar nonprofits.

2017 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$2,671,540

Up $2,449,496 (+1103%) from 2016

Net Assets

Up

$2,569,040

Up $2,456,913 (+2191%) from 2016

Liabilities

Down

$102,500

Down $7,417 (-6.7%) from 2016

Revenue

Up

$3,063,785

Up $2,392,726 (+357%) from 2016

Expenses

Down

$644,093

Down $32,350 (-4.8%) from 2016

Net Income

Up

$2,419,692

Up $2,425,076 (+45042%) from 2016

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

2017

Assets$2,671,540
Liabilities$102,500
Net Assets$2,569,040

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

2017

Revenue$3,063,785
Expenses$644,093
Net Income$2,419,692
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 10, 2018
Return Version
2016v3.1
Gross Receipts
$3,122,832
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
Investments in Publicly Traded Securities$0$1,767,043▲ $1,767,043
Savings and Temporary Cash Investments$114,199$835,426▲ $721,227
Pledges and Grants Receivable$41,967$24,802▼ $17,165
Prepaid Expenses and Deferred Charges$22,847$17,273▼ $5,574
Cash and Non-Interest-Bearing Accounts$35,624$15,673▼ $19,951
Land, Buildings, and Equipment, Net$6,872$9,559▲ $2,687
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
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$222,044$2,671,540▲ $2,449,496
Other Assets Total$535$1,764▲ $1,229
Liabilities
Other Liabilities$71,350$79,345▲ $7,995
Accounts Payable and Accrued Expenses$38,567$23,155▼ $15,412
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$109,917$102,500▼ $7,417
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$2,506,539▲ $2,506,539
Temporarily Rstr Net Assets$134,401$93,657▼ $40,744
Unrestricted Net Assets$-22,274$-31,156▼ $8,882
Total Net Assets Fund Balance$112,127$2,569,040▲ $2,456,913
Total Liabilities and Net Assets / Fund Balance$222,044$2,671,540▲ $2,449,496

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,559$64,208$73,767
Other Land Buildings-$36,636$36,636
Leasehold Improvements-$15,958$15,958

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$0$2,506,539--$2,506,539
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
C Steve ParrottPresidentFT$126,514$15,070$141,584
Heather CampbellFinance DirectorPT$18,000-$18,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,095,737
Program Service Revenue
$0
Investment Income
$6,895
Other Revenue
$-38,847
All Other Contributions
$3,022,737
Change in Net Assets
$2,419,692

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,063,785
Revenue Not Reported on Form 990
$163,938
Total Revenue per Audited Statements
$3,227,723
Total Revenue per Form 990
$3,063,785
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$396,064
Other Expenses$204,571
Total Fundraising Expense$138,636
Grants and Similar Amounts Paid$43,458
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$121,205$5,599$58,730$185,534
Current Officers, Directors, Trustees, and Key Employees$105,457$21,490$32,637$159,584
Occupancy$33,071$5,741$16,976$55,788
Grants to Domestic Individuals$37,458--$37,458
Payroll Taxes$16,933$1,995$6,860$25,788
Other Employee Benefits$16,755$1,975$6,428$25,158
Fees for Services Other$11,770$2,043$6,158$19,971
Office Expenses$7,958$1,461$4,125$13,544
Grants to Domestic Orgs$6,000--$6,000
Conferences and Meetings$2,621$1,811$318$4,750
Interest-$4,366-$4,366
Depreciation Depletion$1,063$184$546$1,793
Travel$666$251$109$1,026
Other Expenses$0$604$163$767
Advertising$693--$693
Total Functional Expenses$455,272$50,185$138,636$644,093

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$770,810
Expenses per Audited Statements$644,093
Total Expenses per Form 990$644,093
Expenses Not Reported on Form 990$126,717
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$59,047
Fundraising Gross Income$14,800
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Stars of Educat$87,800$14,800$59,047$-44,247
Total Events$87,800$14,800$59,047$-44,247
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$79,345
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
2018-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
C Steve Parrott
Formed
1983
Legal Domicile
Nc
Voting Board Members
33
Independent Board Members
32
Employees
9
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 february 8, 2017 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 k-12 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. In 2017, wakeed received the prestigious us2020 stem mentoring award for excellence in public/private partnerships. Through a public/private partnership agreement with wake county public schools, the school district matches private funding for summerstem from wakeed on a 2-to-1 basis. Education forum - the annual education forum was conducted in partnership with the greater raleigh chamber of commerce. The morning event in may 2017 focused on workforce development and what is being done successfully in wake county public schools and wake tech ommunity college to partner with business leaders in preparing students for college and career success. Krystal anderson, director of human resources at buhler aeroglide discussed how their student apprenticeship program was contributing to workforce development and ensuring new applicants had the content and skills knowledge necessary to succeed. Attendees at the forum included elected officials and leaders from business, education and the nonprofit sectors. 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 5,000 people in wake county. In context is published monthly and reports on key educational issues being addressed at the local, state, and national levels. It also provides valuable 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. Open rates for these publications exceed industry average. 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 a

Financial Statement Notes

Reconciliation of Expenses-schedule D, Part XII, Line 2D

Direct expenses related to fundraising events reported on 990, part viii, line 8b = $59,047.

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

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

Endowment Funds-schedule D, Part V, Line 4

The coach bob pittard scholarship fund is a permanent endowment intended for scholarships for undergraduate education (that is, education leading to a baccalaureate degree) for graduates of green hope high school and apex high school, both located in wake county, north carolina who, during their high school years, participated for at least a full season in a varsity sport.

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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