Civic Intelligence

Wake Education Partnership

990 • Fiscal year 2018 • EIN 58-1518182

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 12, 2019

3101 INDUSTRIAL DRIVE Suite 100Raleigh, NC 27609

(919) 821-7609

Siviq Scores

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

Liabilities / Assets

39th percentile

0.05x

Higher debt load relative to assets than 39% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

63rd percentile

0.18x

Higher debt load relative to revenue than 63% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Net Margin

41st percentile

1.7%

Higher net margin than 41% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

76th percentile

$131,562

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 17.4% of source-year revenue.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Asset Growth

52nd percentile

3.8%

Faster asset growth than 52% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

1st percentile

-75%

Faster revenue growth than 1% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$2,773,761

Up $102,221 (+3.8%) from 2017

Net Assets

Up

$2,635,263

Up $66,223 (+2.6%) from 2017

Liabilities

Up

$138,498

Up $35,998 (+35%) from 2017

Revenue

Down

$755,999

Down $2,307,786 (-75%) from 2017

Expenses

Up

$743,219

Up $99,126 (+15%) from 2017

Net Income

Down

$12,780

Down $2,406,912 (-99%) from 2017

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

2018

Assets$2,773,761
Liabilities$138,498
Net Assets$2,635,263

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

2018

Revenue$755,999
Expenses$743,219
Net Income$12,780
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 12, 2019
Return Version
2017v2.3
Gross Receipts
$815,797
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$1,767,043$2,397,264▲ $630,221
Savings and Temporary Cash Investments$835,426$203,362▼ $632,064
Pledges and Grants Receivable$24,802$125,289▲ $100,487
Prepaid Expenses and Deferred Charges$17,273$37,263▲ $19,990
Land, Buildings, and Equipment, Net$9,559$7,697▼ $1,862
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
Cash and Non-Interest-Bearing Accounts$15,673$-1,369▼ $17,042
Total Assets$2,671,540$2,773,761▲ $102,221
Other Assets Total$1,764$4,255▲ $2,491
Liabilities
Accounts Payable and Accrued Expenses$23,155$84,408▲ $61,253
Other Liabilities$79,345$54,090▼ $25,255
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$102,500$138,498▲ $35,998
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,506,539$2,506,539→ $0
Temporarily Rstr Net Assets$93,657$137,794▲ $44,137
Unrestricted Net Assets$-31,156$-9,070▲ $22,086
Total Net Assets Fund Balance$2,569,040$2,635,263▲ $66,223
Total Liabilities and Net Assets / Fund Balance$2,671,540$2,773,761▲ $102,221

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,697$60,259$67,956
Other Land Buildings-$36,636$36,636
Leasehold Improvements-$15,958$15,958

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$2,506,539---$2,506,539
2016$0$2,506,539--$2,506,539
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
C Steve ParrottPresidentFT$125,000$6,562$131,562
Heather CampbellFinance DirectorPT$18,000-$18,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$764,205
Program Service Revenue
$0
Investment Income
$30,667
Other Revenue
$-38,873
All Other Contributions
$679,930
Change in Net Assets
$12,780

Audited Revenue Reconciliation

Revenue per Audited Statements
$755,999
Revenue Not Reported on Form 990
$146,469
Total Revenue per Audited Statements
$902,468
Total Revenue per Form 990
$755,999
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$340,226
Other Expenses$242,975
Grants and Similar Amounts Paid$160,018
Total Fundraising Expense$90,884
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$160,018--$160,018
Current Officers, Directors, Trustees, and Key Employees$97,327$17,656$34,579$149,562
Other Salaries and Wages$137,004$2,907$4,658$144,569
Occupancy$40,829$6,484$10,740$58,053
Fees for Services Other$14,307$3,078$29,981$47,366
Other Employee Benefits$17,030$4,547$2,017$23,594
Payroll Taxes$17,926$1,573$3,002$22,501
Office Expenses$10,844$2,446$2,704$15,994
Interest-$3,450-$3,450
Depreciation Depletion$1,262$1,852$332$3,446
Conferences and Meetings$2,246$284$391$2,921
Other Expenses$1$2,282$158$2,441
Travel$874$31$12$917
Advertising$232--$232
Total Functional Expenses$603,794$48,541$90,884$743,219

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$836,245
Expenses per Audited Statements$743,219
Total Expenses per Form 990$743,219
Expenses Not Reported on Form 990$93,026
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$59,798
Fundraising Gross Income$2,475
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Stars of Educat$86,750$2,475$59,798$-57,323
Total Events$86,750$2,475$59,798$-57,323
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$54,090
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
3101 INDUSTRIAL DRIVE Suite 100, RALEIGH, NC 27609

Signing Officer

Name
C Steve Parrott
Title
President
Phone
9198217609
Signed
2019-02-12
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
7
Volunteers
210

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 launched THE WAKE EDUCATION ADVISORY COUNCIL COMPRISED OF LEADERS FROM THE 12 WAKE COUNTY CHAMBERS OF COMMERCE ALONG WITH WAKE County Public School System and 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. LINK - TOGETHER, WAKEED AND WCPSS PLAN AND EXECUTE two networking events annually that places teachers and principals of WCPSS STEM and Global Network schools at the table with Wake County business volunteers. AT THese EVENTs, 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. DISCUSSION LED TO ENGINEERING DAYS, CODING CLUBS, BUSINESS IMMERSION FOR STUDENTS, PROFESSIONAL SPEAKERS FOR CLASSROOMS, MENTORING, ETC. SUMMERSTEM - WAKEED IS EXPANDING professional development opportunities FOR 100 K-12 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. INFORMING THE COMMUNITY - A significant 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. Coach Bob Pittard Scholarship Fund - When he passed away in November 2016, former Wake County Public School System teacher and coach Bob Pittard left in his will the financial capability and direction to establish a sustainable scholarship fund for student athletes at Apex High School and Green Hope High School. He entrusted WakeEd Partnership with $2.7 million from his estate to establish and facilitate this scholarship program. In 2018, WakeEd announced the first class of Coach Bob Pittard Scholars and selected eleven students to each receive a $12,500 college scholarship. Beginning Teachers Leadership Network - The Wake County Beginning Teacher Leadership Network (BTLN) is a teacher-led young professionals network that aims to eMpower and retain beginning teachers in the Wake County Public School System (WCPSS). BTLN was created by the Public School Forum of North Carolina to help teachers develop leadership skills, learn education policy and advocacy, and participate in valuable professional development experiences early in their careers. WakeEd is the administrator for the program in Wake County. MBTI/MMTIC - MMTIC, based on the Myers-Briggs Type Indicator, is speCIfically designed for 7 to 18-year-old students

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 = $59,798.

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