Civic Intelligence

Wake Preparatory Academy

990 • Fiscal year 2023 • EIN 81-3748488

Jul 01, 2022 to Jun 30, 2023 • Filed on May 02, 2024

Organization Profilewww.wakeprep.org
14111 Capital BLVDWake Forest, NC 27587

(480) 420-2101

Siviq Scores

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

Liabilities / Assets

96th percentile

1.04x

Higher debt load relative to assets than 96% of similar nonprofits.

2023 filings • NTEE B • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

77th percentile

2.60x

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

2023 filings • NTEE B • $25M-$50M nonprofits • Source year 2023

Net Margin

19th percentile

-10%

Higher net margin than 19% of similar nonprofits.

2023 filings • NTEE B • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE B • $25M-$50M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets96th percentile

Assets

$45,359,098

No earlier filing loaded for comparison.

Net Assets

-$1,819,725

No earlier filing loaded for comparison.

Liabilities

$47,178,823

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin19th percentile

Revenue

$18,153,112

No earlier filing loaded for comparison.

Expenses

$19,972,837

No earlier filing loaded for comparison.

Net Income

-$1,819,725

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$60M$40M$20M$0-$20MAssets 2023: $45,359,098Liabilities 2023: $47,178,823Net Assets 2023: -$1,819,7252023Assets 2024: $43,456,530Liabilities 2024: $44,693,502Net Assets 2024: -$1,236,9722024Assets 2025: $41,434,344Liabilities 2025: $42,675,404Net Assets 2025: -$1,241,0602025

Highlighted filing

2023

Assets$45,359,098
Liabilities$47,178,823
Net Assets-$1,819,725
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$40M$30M$20M$10M$0-$10MRevenue 2023: $18,153,112Expenses 2023: $19,972,837Net Income 2023: -$1,819,7252023Revenue 2024: $25,537,660Expenses 2024: $24,954,907Net Income 2024: $582,7532024Revenue 2025: $30,649,526Expenses 2025: $30,653,614Net Income 2025: -$4,0882025

Highlighted filing

2023

Revenue$18,153,112
Expenses$19,972,837
Net Income-$1,819,725
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 2, 2024
Return Version
2022v5.0
Gross Receipts
$18,153,112
Mission and Program Overview

Mission

Operation of a North Carolina public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$45,089,852-
Cash and Non-Interest-Bearing Accounts-$262,436-
Accounts Receivable-$5,360-
Prepaid Expenses and Deferred Charges-$1,450-
Total Assets$0$45,359,098▲ $45,359,098
Liabilities
Other Liabilities-$44,985,353-
Mortgage Notes Payable Secured by Investment Property-$1,928,591-
Accounts Payable and Accrued Expenses-$264,879-
Total Liabilities$0$47,178,823▲ $47,178,823
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-1,819,725-
Total Net Assets Fund Balance$0$-1,819,725▼ $1,819,725
Total Liabilities and Net Assets / Fund Balance$0$45,359,098▲ $45,359,098

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$44,241,818$2,328,517$46,570,335
Equipment$823,027$98,107$921,134
Leasehold Improvements$25,007$4,915$29,922
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Kyle ShraugerPresident
Michael FeathamVice President
Rev Dr William SeamanBoard Member
Rev Larry WilderBoard Member
Valeska Lipani-GarrettBoard Member
Dustin BaptisteSecretary
Tammy AlexanderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$740,884
Program Service Revenue
$17,412,228
Investment Income
$0
Other Revenue
$0
All Other Contributions
$64,669
Change in Net Assets
$-1,819,725

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,153,112
Total Revenue per Audited Statements
$18,153,112
Total Revenue per Form 990
$18,153,112
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,645,222
Salaries, Compensation, and Employee Benefits$7,327,615
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,155,368$176,012-$6,331,380
Depreciation Depletion$1,965,835$465,704-$2,431,539
Interest-$2,007,095-$2,007,095
Payroll Taxes$513,122$14,755-$527,877
Occupancy$351,989$87,997-$439,986
Other Employee Benefits$359,767$36,486-$396,253
Advertising-$148,876-$148,876
Insurance-$94,890-$94,890
Pension Plan Contributions$70,490$1,615-$72,105
Other Expenses$31,394$83,828-$31,394
Fees for Services Legal-$27,705-$27,705
Total Functional Expenses$13,007,804$6,965,033$0$19,972,837

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$19,972,837
Total Expenses per Audited Statements$19,972,837
Total Expenses per Form 990$19,972,837
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$44,985,353
Lease liability-
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 A, Line 3

“Charter One - management and accounting services”

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

“The executive director reviews the 990 and presents to the board of directors for approval.”

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

“At monthly board meetings the board discusses any potential conflicts of interest. If any member has a potential conflict that person does not participate in the decision-making process or vote on the matter.”

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

“Executive directors compensation is approved by the board and is based on comparability data and performance.”

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

“Officers do not receive compensation. Key employees salaries are based on the state salary scale.”

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Wake Preparatory Academy
EIN
81-3748488
In Care Of
% W Corwin
Address
14111 Capital BLVD, Wake Forest, NC 27587

Signing Officer

Name
W Corwin
Title
Chair
Signed
2024-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
W Corwin
Formed
2022
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
191
Volunteers
7

Preparer

Firm
Rebekah Barr CPA PC
Address
1520 Nash Street N, Wilson, NC 27893
Preparer
Rebekah T Barr
Phone
2522946920
Raw XML Appendix383 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.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0264879
IRS990/AccountsReceivableGrp/EOYAmt05360
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0Operation of a North Carolina public charter school
IRS990/AdvertisingGrp/ManagementAndGeneralAmt0148876
IRS990/AdvertisingGrp/TotalAmt0148876
IRS990/AllOtherContributionsAmt064669
IRS990/AllOtherExpensesGrp/TotalAmt00
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BenefitsToMembersGrp/TotalAmt00
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0Charter One
IRS990/BooksInCareOfDetail/PhoneNum04804202101
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt06913 E Rembrandt Avenue
IRS990/BooksInCareOfDetail/USAddress/CityNm0Mesa
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0AZ
IRS990/BooksInCareOfDetail/USAddress/ZIPCd085212
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/EOYAmt0262436
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt00
IRS990/CompDisqualPersonsGrp/TotalAmt00
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/TotalAmt00
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0740884
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt012645222
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt017412228
IRS990/CYRevenuesLessExpensesAmt0-1819725
IRS990/CYSalariesCompEmpBnftPaidAmt07327615
IRS990/CYTotalExpensesAmt019972837
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt018153112
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0true
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt0465704
IRS990/DepreciationDepletionGrp/ProgramServicesAmt01965835
IRS990/DepreciationDepletionGrp/TotalAmt02431539
IRS990/Desc0Operation of a charter school serving approximately 1,739 students for the fiscal year ended June 30, 2023.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt0191
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExcsTaxSect4951Or4952Or4953Ind0false
IRS990/ExpenseAmt013007804
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/TotalAmt00
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt027705
IRS990/FeesForServicesLegalGrp/TotalAmt027705
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/TotalAmt00
IRS990/FeesForServicesOtherGrp/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignGrantsGrp/TotalAmt00
IRS990/ForeignOfficeInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt0002.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1002.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt2002.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt3002.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt4001.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt5001.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt6001.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/PersonNm0Kyle Shrauger
IRS990/Form990PartVIISectionAGrp/PersonNm1Michael Featham
IRS990/Form990PartVIISectionAGrp/PersonNm2Tammy Alexander
IRS990/Form990PartVIISectionAGrp/PersonNm3Dustin Baptiste
IRS990/Form990PartVIISectionAGrp/PersonNm4Valeska Lipani-Garrett
IRS990/Form990PartVIISectionAGrp/PersonNm5Rev Dr William Seaman
IRS990/Form990PartVIISectionAGrp/PersonNm6Rev Larry Wilder
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board Member
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02022
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GovernmentGrantsAmt0676215
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt018153112
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt07
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/ManagementAndGeneralAmt094890
IRS990/InsuranceGrp/TotalAmt094890
IRS990/InterestGrp/ManagementAndGeneralAmt02007095
IRS990/InterestGrp/TotalAmt02007095
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt04
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02431539
IRS990/LandBldgEquipBasisNetGrp/EOYAmt045089852
IRS990/LandBldgEquipCostOrOtherBssAmt047521391
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Operation of a North Carolina public charter school
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01928591
IRS990/NetAssetsOrFundBalancesEOYAmt0-1819725
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-1819725
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt087997
IRS990/OccupancyGrp/ProgramServicesAmt0351989
IRS990/OccupancyGrp/TotalAmt0439986
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt036486
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0359767
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0396253
IRS990/OtherExpensesGrp/Desc0Contracted student services
IRS990/OtherExpensesGrp/Desc1Supplies, materials, textbooks etc.
IRS990/OtherExpensesGrp/Desc2Repairs and maintenance
IRS990/OtherExpensesGrp/Desc3Student Transportation
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02938340
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1881730
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt283828
IRS990/OtherExpensesGrp/ProgramServicesAmt0825022
IRS990/OtherExpensesGrp/ProgramServicesAmt12734817
IRS990/OtherExpensesGrp/ProgramServicesAmt231394
IRS990/OtherExpensesGrp/TotalAmt03763362
IRS990/OtherExpensesGrp/TotalAmt13616547
IRS990/OtherExpensesGrp/TotalAmt283828
IRS990/OtherExpensesGrp/TotalAmt331394
IRS990/OtherLiabilitiesGrp/EOYAmt044985353
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0176012
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt06155368
IRS990/OtherSalariesAndWagesGrp/TotalAmt06331380
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt014755
IRS990/PayrollTaxesGrp/ProgramServicesAmt0513122
IRS990/PayrollTaxesGrp/TotalAmt0527877
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01615
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt070490
IRS990/PensionPlanContributionsGrp/TotalAmt072105
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01450
IRS990/PrincipalOfficerNm0W Corwin
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0State appropriations
IRS990/ProgramServiceRevenueGrp/Desc1County appropriations
IRS990/ProgramServiceRevenueGrp/Desc2School lunch charges
IRS990/ProgramServiceRevenueGrp/Desc3Other program charges
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt011553420
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15286625
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2376153
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3196030
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/QuidProQuoContriDisclInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-1819725
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt044241818
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02328517
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt046570335
IRS990ScheduleD/EquipmentGrp/BookValueAmt0823027
IRS990ScheduleD/EquipmentGrp/DepreciationAmt098107
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0921134
IRS990ScheduleD/ExpensesSubtotalAmt019972837
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt025007
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt04915
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt029922
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt044985353
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Lease liability
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt018153112
IRS990ScheduleD/TotalBookValueLandBuildingsAmt045089852
IRS990ScheduleD/TotalExpensesPerForm990Amt019972837
IRS990ScheduleD/TotalLiabilityAmt044985353
IRS990ScheduleD/TotalRevenuePerForm990Amt018153112
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt018153112
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt019972837
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
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/ExplanationTxt0Charter One - management and accounting services
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The executive director reviews the 990 and presents to the board of directors for approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2At monthly board meetings the board discusses any potential conflicts of interest. If any member has a potential conflict that person does not participate in the decision-making process or vote on the matter.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Executive directors compensation is approved by the board and is based on comparability data and performance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Officers do not receive compensation. Key employees salaries are based on the state salary scale.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents, school policies, and financial statements are available for viewing by the public at the organizations office upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt045359098
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt045359098
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0740884
IRS990/TotalEmployeeCnt0191
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06965033
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt013007804
IRS990/TotalFunctionalExpensesGrp/TotalAmt019972837
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt047178823
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt047178823
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1819725
IRS990/TotalProgramServiceExpensesAmt013007804
IRS990/TotalProgramServiceRevenueAmt017412228
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt018153112
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt045359098
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt014111 Capital BLVD
IRS990/USAddress/CityNm0Wake Forest
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027587
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0https://www.wakeprep.org/
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0W Corwin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chair
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Wake Preparatory Academy
ReturnHeader/Filer/BusinessNameControlTxt0WAKE
ReturnHeader/Filer/EIN0813748488
ReturnHeader/Filer/InCareOfNm0% W Corwin
ReturnHeader/Filer/USAddress/AddressLine1Txt014111 Capital BLVD
ReturnHeader/Filer/USAddress/CityNm0Wake Forest
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027587
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/PreparationDt02024-05-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah T Barr
ReturnHeader/ReturnTs02024-05-02T03:59:43-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0W
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Corwin
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$45,359,098
Liabilities
$47,178,823
Net assets
-$1,819,725
Revenue
$18,153,112
Expenses
$19,972,837
Net income
-$1,819,725
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$41.4$42.7$1.24$30.6$30.7$0.00
2024Detailed filing. Detailed filing data is available for this year.$43.5$44.7$1.24$25.5$25.0$0.58
2023Detailed filing. Detailed filing data is available for this year.$45.4$47.2$1.82$18.2$20.0$1.82