Civic Intelligence

Raleigh Oak Charter School Inc

EIN 81-3256305 • 501(c)3 • Raleigh, NC

Profile

Operation of a public charter school.

2600 Sumner BoulevardRaleigh, NC 27616

www.raleighoakcharter.org

Siviq Scores

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

Liabilities / Assets

68th percentile

0.26x

Higher debt load relative to assets than 68% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

36th percentile

0.02x

Higher debt load relative to revenue than 36% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2023

Net Margin

24th percentile

-5.1%

Higher net margin than 24% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

62nd percentile

$92,240

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

NTEE B • $1M-$5M nonprofits • Source year 2023

Asset Growth

7th percentile

-34%

Faster asset growth than 7% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

19th percentile

-12%

Faster revenue growth than 19% of similar nonprofits.

NTEE B • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$243,816

Down $124,825 (-34%) from 2022

Liabilities

Up

$62,758

Up $44,333 (+241%) from 2022

Net Assets

Down

$181,058

Down $169,158 (-48%) from 2022

Operations
Liabilities / Revenue36th percentileNet Margin24th percentile

Revenue

Down

$3,322,976

Down $443,076 (-12%) from 2022

Expenses

Down

$3,492,134

Down $116,447 (-3.2%) from 2022

Net Income

Down

-$169,158

Down $326,629 (-207%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth7th percentile

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

$400K$300K$200K$100K$0-$100KAssets 2019: $45,711Liabilities 2019: $15,041Net Assets 2019: $30,6702019Assets 2020: $336,421Liabilities 2020: $344,527Net Assets 2020: -$8,1062020Assets 2021: $205,404Liabilities 2021: $12,659Net Assets 2021: $192,7452021Assets 2022: $368,641Liabilities 2022: $18,425Net Assets 2022: $350,2162022Assets 2023: $243,816Liabilities 2023: $62,758Net Assets 2023: $181,0582023

Highlighted filing

2023

Assets$243,816
Liabilities$62,758
Net Assets$181,058
Open 2023 Filing

Operations Trend

Revenue Growth19th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $1,917,260Expenses 2019: $1,886,590Net Income 2019: $30,6702019Revenue 2020: $2,571,068Expenses 2020: $2,609,844Net Income 2020: -$38,7762020Revenue 2021: $3,315,395Expenses 2021: $3,114,544Net Income 2021: $200,8512021Revenue 2022: $3,766,052Expenses 2022: $3,608,581Net Income 2022: $157,4712022Revenue 2023: $3,322,976Expenses 2023: $3,492,134Net Income 2023: -$169,1582023

Highlighted filing

2023

Revenue$3,322,976
Expenses$3,492,134
Net Income-$169,158
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$243,816
Liabilities
$62,758
Net assets
$181,058
Revenue
$3,322,976
Expenses
$3,492,134
Net income
-$169,158
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.24$0.06$0.18$3.32$3.49$0.17
2022Detailed filing. Detailed filing data is available for this year.$0.37$0.02$0.35$3.77$3.61$0.16
2021Detailed filing. Detailed filing data is available for this year.$0.21$0.01$0.19$3.32$3.11$0.20
2020Detailed filing. Detailed filing data is available for this year.$0.34$0.34$0.01$2.57$2.61$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.05$0.02$0.03$1.92$1.89$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 3, 2024
Return Version
2022v5.0
Gross Receipts
$3,322,976
Mission and Program Overview

Mission

Operation of a public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$273,234$87,078▼ $186,156
Land, Buildings, and Equipment, Net$95,407$78,719▼ $16,688
Accounts Receivable-$78,019-
Total Assets$368,641$243,816▼ $124,825
Liabilities
Accounts Payable and Accrued Expenses$18,425$62,758▲ $44,333
Total Liabilities$18,425$62,758▲ $44,333
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$350,216$181,058▼ $169,158
Total Net Assets Fund Balance$350,216$181,058▼ $169,158
Total Liabilities and Net Assets / Fund Balance$368,641$243,816▼ $124,825

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$69,286$18,263$87,549
Leasehold Improvements$9,433$9,867$19,300
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Rodney S BerryPrincipalFT$92,240$92,240

Board Members and Trustees

NameTitle
Jeremy AltfederChair
Romaric DautunVice Chair
Bridget Blinn-SpearsBoard Member
Kacey Reynolds SchedlerBoard Member
Zak CiottiBoard Member
Cat McDowellSecretary
Rob JonesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$182,548
Program Service Revenue
$3,140,428
Investment Income
$0
Other Revenue
$0
All Other Contributions
$9,665
Change in Net Assets
$-169,158

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,322,976
Total Revenue per Audited Statements
$3,322,976
Total Revenue per Form 990
$3,322,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,238,147
Other Expenses$1,253,987
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,778,529$47,911-$1,826,440
Occupancy$412,192$103,048-$515,240
Other Employee Benefits$212,997--$212,997
Other Expenses$104,126$77,685-$181,811
Payroll Taxes$143,886$4,156-$148,042
Pension Plan Contributions$49,458$1,210-$50,668
Advertising-$23,261-$23,261
Depreciation Depletion$16,688--$16,688
Insurance-$15,037-$15,037
Fees for Services Accounting-$12,475-$12,475
Fees for Services Legal-$9,535-$9,535
Total Functional Expenses$3,013,420$478,714$0$3,492,134

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,492,134
Total Expenses per Audited Statements$3,492,134
Total Expenses per Form 990$3,492,134
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Federal income taxes-
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
Yes

Governance Explanations

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

“The board treasurer reviews the 990 and reports to the board of directors prior to filing.”

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

“Each board member is required to execute a conflict of interest statement and confidentiality agreement annually. Any potential conflict of interest is reviewed and resolved by the board of directors.”

Form 990, Part VI, Section B, Line 15A

“Compensation for top officials is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individuals.”

Form 990, Part VI, Section B, Line 15B

“Compensation for key employees is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individuals. There are no officers on the board of directors receiving compensation.”

Form 990, Part VI, Section C, Line 19

“Governing documents, school policies and financial statements are available for viewing by the public at the Schools office upon request.”

Form 990, Part VI, Section A, Line 3

“Charter Success Partners, LLC -- accounting and business services”

Filing and Contact Details

Filer

Filer Name
Raleigh Oak Charter School Inc
EIN
81-3256305
Phone
9194247626
Address
2600 Sumner Boulevard, Raleigh, NC 27616

Signing Officer

Name
Jeremy Altfeder
Title
Board Chair
Phone
9194247626
Signed
2024-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeremy Altfeder
Formed
2015
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
81
Volunteers
8

Preparer

Firm
Rebekah Barr CPA PC
Address
1520 Nash Street N, Wilson, NC 27893
Preparer
Rebekah T Barr
Phone
2522946920
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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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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0North Carolina charter schools are funded by the State and Local Governments. The School also receives various federal grants.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc06a
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board treasurer reviews the 990 and reports to the board of directors prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each board member is required to execute a conflict of interest statement and confidentiality agreement annually. Any potential conflict of interest is reviewed and resolved by the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation for top officials is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individuals.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation for key employees is approved by the board of directors and is based on review of area comparability data and the experience and expertise of the individuals. There are no officers on the board of directors receiving compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Governing documents, school policies and financial statements are available for viewing by the public at the Schools office upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Charter Success Partners, LLC -- accounting and business services
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section A, Line 3
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0368641
IRS990/TotalAssetsEOYAmt0243816
IRS990/TotalAssetsGrp/BOYAmt0368641
IRS990/TotalAssetsGrp/EOYAmt0243816
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0182548
IRS990/TotalEmployeeCnt081
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0478714
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03013420
IRS990/TotalFunctionalExpensesGrp/TotalAmt03492134
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018425
IRS990/TotalLiabilitiesEOYAmt062758
IRS990/TotalLiabilitiesGrp/BOYAmt018425
IRS990/TotalLiabilitiesGrp/EOYAmt062758
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0350216
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0181058
IRS990/TotalProgramServiceExpensesAmt03013420
IRS990/TotalProgramServiceRevenueAmt03140428
IRS990/TotalReportableCompFromOrgAmt092240
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03322976
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0368641
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0243816
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04600 Forum Drive
IRS990/USAddress/CityNm0Raleigh
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027615
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.raleighoakcharter.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jeremy Altfeder
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum09194247626
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RALEIGH OAK CHARTER SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0RALE
ReturnHeader/Filer/EIN0813256305
ReturnHeader/Filer/PhoneNum09194247626
ReturnHeader/Filer/USAddress/AddressLine1Txt02600 Sumner Boulevard
ReturnHeader/Filer/USAddress/CityNm0Raleigh
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027616
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271832948
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rebekah Barr CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01520 Nash Street N
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027893
ReturnHeader/PreparerPersonGrp/PhoneNum02522946920
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah T Barr
ReturnHeader/ReturnTs02024-05-03T10:32:49-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Jeremy
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Altfeder
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

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