Civic Intelligence

Wilmington Education Organization

990 • Fiscal year 2018 • EIN 81-4262635

Jul 01, 2017 to Jun 30, 2018 • Filed on Jan 14, 2019

Organization Profilecoastalpre.teamcfa.school
1135 Pandion DriveWilmington, NC 28411

(910) 839-0012

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.14x

Higher debt load relative to assets than 52% of similar nonprofits.

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

Liabilities / Revenue

30th percentile

0.02x

Higher debt load relative to revenue than 30% of similar nonprofits.

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

Net Margin

71st percentile

14%

Higher net margin than 71% of similar nonprofits.

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

Top Officer Pay

39th percentile

$25,730

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

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

Asset Growth

Score unavailable

No value available

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

Source year 2018

Revenue Growth

Score unavailable

No value available

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

Source year 2018

Balance Sheet
Liabilities / Assets52nd percentile

Assets

$591,077

No earlier filing loaded for comparison.

Net Assets

$510,122

No earlier filing loaded for comparison.

Liabilities

$80,955

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin71st percentile

Revenue

$3,910,858

No earlier filing loaded for comparison.

Expenses

$3,371,941

No earlier filing loaded for comparison.

Net Income

$538,917

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.

$30M$20M$10M$0-$10MAssets 2018: $591,077Liabilities 2018: $80,955Net Assets 2018: $510,1222018Assets 2019: $1,379,470Liabilities 2019: $165,864Net Assets 2019: $1,213,6062019Assets 2020: $23,546,004Liabilities 2020: $25,305,500Net Assets 2020: -$1,759,4962020Assets 2021: $22,607,631Liabilities 2021: $24,645,000Net Assets 2021: -$2,037,3692021Assets 2022: $22,686,310Liabilities 2022: $24,655,982Net Assets 2022: -$1,969,6722022Assets 2023: $22,290,169Liabilities 2023: $24,656,927Net Assets 2023: -$2,366,7582023Assets 2024: $21,965,787Liabilities 2024: $24,221,581Net Assets 2024: -$2,255,7942024

Highlighted filing

2018

Assets$591,077
Liabilities$80,955
Net Assets$510,122
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MRevenue 2018: $3,910,858Expenses 2018: $3,371,941Net Income 2018: $538,9172018Revenue 2019: $5,304,319Expenses 2019: $4,600,835Net Income 2019: $703,4842019Revenue 2020: $5,017,331Expenses 2020: $7,768,099Net Income 2020: -$2,750,7682020Revenue 2021: $6,972,055Expenses 2021: $7,249,928Net Income 2021: -$277,8732021Revenue 2022: $9,173,831Expenses 2022: $9,106,134Net Income 2022: $67,6972022Revenue 2023: $11,008,508Expenses 2023: $11,405,594Net Income 2023: -$397,0862023Revenue 2024: $11,682,516Expenses 2024: $11,571,552Net Income 2024: $110,9642024

Highlighted filing

2018

Revenue$3,910,858
Expenses$3,371,941
Net Income$538,917
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Jan 14, 2019
Return Version
2017v2.2
Gross Receipts
$3,910,858
Mission and Program Overview

Mission

Wilmington Education Organization, dba Coastal Preparatory Academy, is a Challenge Foundation Academy (CPA-CFA)-- a public K-8 charter school located in New Hanover County. CPA-CFA is a tuition-free public charter school open to all residents of North Carolina.

Public K-8 charter school located in New Hanover County, providing tuition-free education to the public and open to all residents of North Carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$21,205$591,077▲ $569,872
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$21,205$591,077▲ $569,872
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable$50,000$50,000→ $0
Accounts Payable and Accrued Expenses-$30,955-
Total Liabilities$50,000$80,955▲ $30,955
Net Assets / Fund Balance
Unrestricted Net Assets$-28,795$510,122▲ $538,917
Total Net Assets Fund Balance$-28,795$510,122▲ $538,917
Total Liabilities and Net Assets / Fund Balance$21,205$591,077▲ $569,872
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jamie GetzHead of SchoolFT$24,505$1,225$25,730

Board Members and Trustees

NameTitle
Chris MillisChairman
Alex DaleVice Chair
Crystal ScillitaniDirector
Dan MysiukDirector
Karen GaskillSecretary
Angel MajorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$134,648
Program Service Revenue
$3,776,210
Investment Income
$0
Other Revenue
$0
All Other Contributions
$68,828
Change in Net Assets
$538,917
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,892,745
Other Expenses$1,479,196
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,380,091$174,578-$1,554,669
Occupancy$834,800--$834,800
Fees for Services Other$86,787$92,187-$178,974
Payroll Taxes$121,914$21,514-$143,428
Pension Plan Contributions$61,201$10,800-$72,001
Current Officers, Directors, Trustees, and Key Employees-$64,508-$64,508
Other Employee Benefits$49,419$8,720-$58,139
Other Expenses$46,234--$46,234
Insurance$26,004--$26,004
All Other Expenses$15,410--$15,410
Total Functional Expenses$2,999,634$372,307$0$3,371,941
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 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

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is prepared by an independent CPA and reviewed by the president and treasurer. Other board members are notified of its availability for review.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“New board members are made aware of their duty to disclose any potential conflicts to the president as soon as they arise. Annually, the board is reminded of its duty to assess and disclose potential conflicts of interest.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation is evaluated by the personnel and finance committees of the board and wage rates are recommended to the board for approval.The Head of School's salary is compared to various objective data points (e.g. wage scales provided by the NC Department of Education) to ensure reasonableness of compensation.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“See above.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“Form 990 is available at guidestar.org or upon request from the School.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents and other information is available to the public in accordance with North Carolina law upon request of the School.”

Filing and Contact Details

Filer

Filer Name
Wilmington Education Organization
EIN
81-4262635
Phone
9108390012
Address
1135 Pandion Drive, Wilmington, NC 28411

Signing Officer

Name
Chris Millis
Title
Chairman
Signed
2019-01-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Millis
Formed
2014
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
52
Volunteers
200

Preparer

Firm
Bearmancpa Pllc
Address
124 Cavalier Dr, WILMINGTON, NC 28403-2547
Preparer
Nigel Bearman
Phone
9105080630
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IRS990/Desc0The School opened its doors in the Fall 2017 and successfully completed its first year enrolling more than 470 students.In grades K-6, Coastal Preparatory Academy offers a curriculum that integrates the Core Knowledge Sequence and the North Carolina Standard Course of Studies. Each year in the Core Knowledge Sequence, students gain a rigorous grounding in the language arts, history and geography, mathematics, science, music, and art. All K-8 classes have fully integrated the Core Knowledge Sequence, Singapore Math and the North Carolina Standard Course of Studies.Along with academics, students who attend the School are expected to develop character building skills that allow them to demonstrate their potential. Students learn character development through the school culture and interaction with peers, teachers, administration, and community members.
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IRS990/PYRevenuesLessExpensesAmt0-28795
IRS990/PYTotalExpensesAmt028795
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0538917
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03774640
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is prepared by an independent CPA and reviewed by the president and treasurer. Other board members are notified of its availability for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1New board members are made aware of their duty to disclose any potential conflicts to the president as soon as they arise. Annually, the board is reminded of its duty to assess and disclose potential conflicts of interest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation is evaluated by the personnel and finance committees of the board and wage rates are recommended to the board for approval.The Head of School's salary is compared to various objective data points (e.g. wage scales provided by the NC Department of Education) to ensure reasonableness of compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3See above.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990 is available at guidestar.org or upon request from the School.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents and other information is available to the public in accordance with North Carolina law upon request of the School.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt021205
IRS990/TotalAssetsEOYAmt0591077
IRS990/TotalAssetsGrp/BOYAmt021205
IRS990/TotalAssetsGrp/EOYAmt0591077
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0134648
IRS990/TotalEmployeeCnt052
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0372307
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02999634
IRS990/TotalFunctionalExpensesGrp/TotalAmt03371941
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt050000
IRS990/TotalLiabilitiesEOYAmt080955
IRS990/TotalLiabilitiesGrp/BOYAmt050000
IRS990/TotalLiabilitiesGrp/EOYAmt080955
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-28795
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0510122
IRS990/TotalOtherCompensationAmt01225
IRS990/TotalProgramServiceExpensesAmt02999634
IRS990/TotalProgramServiceRevenueAmt03776210
IRS990/TotalReportableCompFromOrgAmt024505
IRS990/TotalRevenueGrp/ExclusionAmt01570
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03774640
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03910858
IRS990/TotalVolunteersCnt0200
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt021205
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0591077
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-28795
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0510122
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt050000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt050000
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0coastalpre.teamcfa.school
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Chris Millis
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-01-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Wilmington Education Organization
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0dba Coastal Preparatory Academy
ReturnHeader/Filer/BusinessNameControlTxt0WILM
ReturnHeader/Filer/EIN0814262635
ReturnHeader/Filer/PhoneNum09108390012
ReturnHeader/Filer/USAddress/AddressLine1Txt01135 Pandion Drive
ReturnHeader/Filer/USAddress/CityNm0Wilmington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028411
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BEARMANCPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0124 Cavalier Dr
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WILMINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0284032547
ReturnHeader/PreparerPersonGrp/PhoneNum09105080630
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Nigel Bearman
ReturnHeader/ReturnTs02019-01-14T06:27:00-08:00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$591,077
Liabilities
$80,955
Net assets
$510,122
Revenue
$3,910,858
Expenses
$3,371,941
Net income
$538,917
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$22.0$24.2$2.26$11.7$11.6$0.11
2023Detailed filing. Detailed filing data is available for this year.$22.3$24.7$2.37$11.0$11.4$0.40
2022Detailed filing. Detailed filing data is available for this year.$22.7$24.7$1.97$9.17$9.11$0.07
2021Detailed filing. Detailed filing data is available for this year.$22.6$24.6$2.04$6.97$7.25$0.28
2020Detailed filing. Detailed filing data is available for this year.$23.5$25.3$1.76$5.02$7.77$2.75
2019Detailed filing. Detailed filing data is available for this year.$1.38$0.17$1.21$5.30$4.60$0.70
2018Detailed filing. Detailed filing data is available for this year.$0.59$0.08$0.51$3.91$3.37$0.54