Civic Intelligence

Wilmington Education Organization

990 • Fiscal year 2019 • EIN 81-4262635

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 16, 2019

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

34th percentile

0.12x

Higher debt load relative to assets than 34% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

19th percentile

0.03x

Higher debt load relative to revenue than 19% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Net Margin

76th percentile

13%

Higher net margin than 76% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

34th percentile

$88,953

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2019 filings • NTEE B • $5M-$10M nonprofits • Source year 2019

Asset Growth

95th percentile

133%

Faster asset growth than 95% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

87th percentile

36%

Faster revenue growth than 87% of similar nonprofits.

2019 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,379,470

Up $788,393 (+133%) from 2018

Net Assets

Up

$1,213,606

Up $703,484 (+138%) from 2018

Liabilities

Up

$165,864

Up $84,909 (+105%) from 2018

Revenue

Up

$5,304,319

Up $1,393,461 (+36%) from 2018

Expenses

Up

$4,600,835

Up $1,228,894 (+36%) from 2018

Net Income

Up

$703,484

Up $164,567 (+31%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$1,379,470
Liabilities$165,864
Net Assets$1,213,606

Operations Trend

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

2019

Revenue$5,304,319
Expenses$4,600,835
Net Income$703,484
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 16, 2019
Return Version
2018v3.1
Gross Receipts
$5,304,319
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$591,077$923,321▲ $332,244
Land, Buildings, and Equipment, Net-$272,334-
Accounts Receivable-$162,000-
Prepaid Expenses and Deferred Charges-$21,815-
Savings and Temporary Cash Investments-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$591,077$1,379,470▲ $788,393
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$30,955$115,864▲ $84,909
Unsecured Notes Loans Payable$50,000$50,000→ $0
Total Liabilities$80,955$165,864▲ $84,909
Net Assets / Fund Balance
Unrestricted Net Assets$510,122$1,213,606▲ $703,484
Total Net Assets Fund Balance$510,122$1,213,606▲ $703,484
Total Liabilities and Net Assets / Fund Balance$591,077$1,379,470▲ $788,393

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$272,334-$272,334
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jamie GetzHead of SchoolFT$84,717$4,236$88,953

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
$68,265
Program Service Revenue
$5,236,054
Investment Income
$0
Other Revenue
$0
All Other Contributions
$309
Change in Net Assets
$703,484

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,304,319
Total Revenue per Audited Statements
$5,304,319
Total Revenue per Form 990
$5,304,319
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,635,072
Other Expenses$1,965,763
Total Fundraising Expense$92,066
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,804,260$233,728-$2,037,988
Occupancy$1,132,120--$1,132,120
Fees for Services Other$283,072-$61,494$344,566
Other Employee Benefits$193,945$34,950-$228,895
Payroll Taxes$145,980$26,306-$172,286
Pension Plan Contributions$88,537$15,955-$104,492
Current Officers, Directors, Trustees, and Key Employees-$91,411-$91,411
Fees for Services Accounting-$77,983-$77,983
Fees for Services Legal-$62,288-$62,288
Insurance$33,737--$33,737
Advertising--$13,347$13,347
Other Expenses$24,969$9,467$17,225$9,467
All Other Expenses$3,272--$3,272
Total Functional Expenses$3,956,681$552,088$92,066$4,600,835

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,600,835
Total Expenses per Audited Statements$4,600,835
Total Expenses per Form 990$4,600,835
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
2019-12-16
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
69
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 second year of operations in 2018/19, increasing enrollment from 490 to 633 students.In grades K-8, 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/PrepaidExpensesDefrdChargesGrp/EOYAmt021815
IRS990/PrincipalOfficerNm0Chris Millis
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0County Appropriations
IRS990/ProgramServiceRevenueGrp/Desc1Other Program Services
IRS990/ProgramServiceRevenueGrp/Desc2State Appropriations
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01469653
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1123845
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt23642556
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01469653
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1123845
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23642556
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0134648
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01479196
IRS990/PYProgramServiceRevenueAmt03776210
IRS990/PYRevenuesLessExpensesAmt0538917
IRS990/PYSalariesCompEmpBnftPaidAmt01892745
IRS990/PYTotalExpensesAmt03371941
IRS990/PYTotalRevenueAmt03910858
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0703484
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt05236054
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesSubtotalAmt04600835
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0272334
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0272334
IRS990ScheduleD/RevenueSubtotalAmt05304319
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0272334
IRS990ScheduleD/TotalExpensesPerForm990Amt04600835
IRS990ScheduleD/TotalRevenuePerForm990Amt05304319
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05304319
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04600835
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0591077
IRS990/TotalAssetsEOYAmt01379470
IRS990/TotalAssetsGrp/BOYAmt0591077
IRS990/TotalAssetsGrp/EOYAmt01379470
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt068265
IRS990/TotalEmployeeCnt069
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt092066
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0552088
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03956681
IRS990/TotalFunctionalExpensesGrp/TotalAmt04600835
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt080955
IRS990/TotalLiabilitiesEOYAmt0165864
IRS990/TotalLiabilitiesGrp/BOYAmt080955
IRS990/TotalLiabilitiesGrp/EOYAmt0165864
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0510122
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01213606
IRS990/TotalOtherCompensationAmt04236
IRS990/TotalProgramServiceExpensesAmt03956681
IRS990/TotalProgramServiceRevenueAmt05236054
IRS990/TotalReportableCompFromOrgAmt084717
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05236054
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05304319
IRS990/TotalVolunteersCnt0200
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0591077
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01379470
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0510122
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01213606
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt050000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt050000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01135 Pandion Drive
IRS990/USAddress/CityNm0Wilmington

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