Civic Intelligence

Faith Academy Charter School Inc

EIN 85-2067737 • 501(c)3 • Faith, NC

Profile

Operation of a public charter school

PO Box 182Faith, NC 28041

faithacademync.org

Siviq Scores

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

Liabilities / Assets

79th percentile

0.89x

Higher debt load relative to assets than 79% of similar nonprofits.

NTEE B • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

69th percentile

1.96x

Higher debt load relative to revenue than 69% of similar nonprofits.

NTEE B • $25M-$50M nonprofits • Source year 2025

Net Margin

53rd percentile

6.1%

Higher net margin than 53% of similar nonprofits.

NTEE B • $25M-$50M nonprofits • Source year 2025

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.

NTEE B • $25M-$50M nonprofits • Source year 2025

Asset Growth

5th percentile

-15%

Faster asset growth than 5% of similar nonprofits.

NTEE B • $25M-$50M nonprofits • Annualized from 2024 to 2025

Revenue Growth

79th percentile

29%

Faster revenue growth than 79% of similar nonprofits.

NTEE B • $25M-$50M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$25,955,479

Down $4,505,688 (-15%) from 2024

Liabilities

Down

$23,008,103

Down $5,228,650 (-19%) from 2024

Net Assets

Up

$2,947,376

Up $722,962 (+33%) from 2024

Operations
Liabilities / Revenue69th percentileNet Margin53rd percentile

Revenue

Up

$11,760,007

Up $2,626,221 (+29%) from 2024

Expenses

Up

$11,037,045

Up $2,226,721 (+25%) from 2024

Net Income

Up

$722,962

Up $399,500 (+124%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth5th percentile

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

$40M$30M$20M$10M$0Assets 2022: $759,115Liabilities 2022: $11,921Net Assets 2022: $747,1942022Assets 2023: $1,902,899Liabilities 2023: $1,947Net Assets 2023: $1,900,9522023Assets 2024: $30,461,167Liabilities 2024: $28,236,753Net Assets 2024: $2,224,4142024Assets 2025: $25,955,479Liabilities 2025: $23,008,103Net Assets 2025: $2,947,3762025

Highlighted filing

2025

Assets$25,955,479
Liabilities$23,008,103
Net Assets$2,947,376
Open 2025 Filing

Operations Trend

Revenue Growth79th percentile

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

$15M$10M$5.0M$0Revenue 2022: $4,976,073Expenses 2022: $4,228,879Net Income 2022: $747,1942022Revenue 2023: $6,672,238Expenses 2023: $5,518,480Net Income 2023: $1,153,7582023Revenue 2024: $9,133,786Expenses 2024: $8,810,324Net Income 2024: $323,4622024Revenue 2025: $11,760,007Expenses 2025: $11,037,045Net Income 2025: $722,9622025

Highlighted filing

2025

Revenue$11,760,007
Expenses$11,037,045
Net Income$722,962
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,955,479
Liabilities
$23,008,103
Net assets
$2,947,376
Revenue
$11,760,007
Expenses
$11,037,045
Net income
$722,962
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$26.0$23.0$2.95$11.8$11.0$0.72
2024Detailed filing. Detailed filing data is available for this year.$30.5$28.2$2.22$9.13$8.81$0.32
2023Detailed filing. Detailed filing data is available for this year.$1.90$0.00$1.90$6.67$5.52$1.15
2022Detailed filing. Detailed filing data is available for this year.$0.76$0.01$0.75$4.98$4.23$0.75
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Feb 25, 2026
Return Version
2024v5.2
Gross Receipts
$11,760,007
Mission and Program Overview

Mission

Operation of a public charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$28,506,851$23,849,326▼ $4,657,525
Cash and Non-Interest-Bearing Accounts$1,911,139$1,903,460▼ $7,679
Accounts Receivable$810$101,280▲ $100,470
Savings and Temporary Cash Investments-$79,980-
Prepaid Expenses and Deferred Charges$42,367$21,433▼ $20,934
Total Assets$30,461,167$25,955,479▼ $4,505,688
Liabilities
Tax Exempt Bond Liabilities$28,193,216$23,000,000▼ $5,193,216
Deferred Revenue$35,139--
Accounts Payable and Accrued Expenses$8,398$8,103▼ $295
Total Liabilities$28,236,753$23,008,103▼ $5,228,650
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,224,414$2,947,376▲ $722,962
Total Net Assets Fund Balance$2,224,414$2,947,376▲ $722,962
Total Liabilities and Net Assets / Fund Balance$30,461,167$25,955,479▼ $4,505,688

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$21,978,325$82,063$22,060,388
Equipment$737,941$409,033$1,146,974
Land$1,094,952-$1,094,952
Other Land Buildings$38,108$3,067$41,175
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
George WilhelmChair
Gene MillerVice Chair
John HudsonMember
Mark BrinkleyMember
Robert LeslieMember
Sheri HalpinMember
Nick LefkoSecretary
Elizabeth MorrowTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$605,699
Program Service Revenue
$11,154,308
Investment Income
$0
Other Revenue
$0
All Other Contributions
$223,660
Change in Net Assets
$722,962

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,760,007
Total Revenue per Audited Statements
$11,760,007
Total Revenue per Form 990
$11,760,007
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,708,501
Other Expenses$5,328,544
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,304,458$318,967-$4,623,425
Depreciation Depletion$1,528,363$54,858-$1,583,221
Interest-$1,289,032-$1,289,032
Other Employee Benefits$560,436$24,717-$585,153
Payroll Taxes$351,658$22,967-$374,625
Occupancy-$152,159-$152,159
Other Expenses$833,865$150,991-$150,991
Pension Plan Contributions$118,245$7,053-$125,298
Fees for Services Legal-$64,250-$64,250
Insurance-$48,215-$48,215
Fees for Services Accounting-$7,950-$7,950
Advertising-$2,288-$2,288
Total Functional Expenses$8,163,974$2,873,071$0$11,037,045

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,037,045
Total Expenses per Audited Statements$11,037,045
Total Expenses per Form 990$11,037,045
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
No

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 receiving compensation.”

Form 990, Part V, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Faith Academy Charter School Inc
EIN
85-2067737
Phone
7046038437
Address
PO Box 182, Faith, NC 28041

Signing Officer

Name
George Wilhelm
Title
Board Chair
Phone
7046038437
Signed
2026-02-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Wilhelm
Formed
2020
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
138

Preparer

Firm
Rebekah Barr CPA PC
Address
2505-B Nash Street NW, Wilson, NC 27896
Preparer
Rebekah T Barr
Phone
2522946920
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IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt01094952
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01094952
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt021978325
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt082063
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt022060388
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt038108
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03067
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt041175
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt011760007
IRS990ScheduleD/TotalBookValueLandBuildingsAmt023849326
IRS990ScheduleD/TotalExpensesPerForm990Amt011037045
IRS990ScheduleD/TotalRevenuePerForm990Amt011760007
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt011760007
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt011037045
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/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 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/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 V, Section C, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt028193216
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt023000000
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt030461167
IRS990/TotalAssetsEOYAmt025955479
IRS990/TotalAssetsGrp/BOYAmt030461167
IRS990/TotalAssetsGrp/EOYAmt025955479
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0605699
IRS990/TotalEmployeeCnt0138
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02873071
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt08163974
IRS990/TotalFunctionalExpensesGrp/TotalAmt011037045
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt028236753
IRS990/TotalLiabilitiesEOYAmt023008103
IRS990/TotalLiabilitiesGrp/BOYAmt028236753
IRS990/TotalLiabilitiesGrp/EOYAmt023008103
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02224414
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02947376
IRS990/TotalProgramServiceExpensesAmt08163974
IRS990/TotalProgramServiceRevenueAmt011154308
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt011760007
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt030461167
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt025955479
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 182
IRS990/USAddress/CityNm0Faith
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028041
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0faithacademync.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0George Wilhelm
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum07046038437
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-02-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Faith Academy Charter School Inc
ReturnHeader/Filer/BusinessNameControlTxt0FAIT
ReturnHeader/Filer/EIN0852067737
ReturnHeader/Filer/PhoneNum07046038437
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 182
ReturnHeader/Filer/USAddress/CityNm0Faith
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028041
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271832948
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rebekah Barr CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02505-B Nash Street NW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027896
ReturnHeader/PreparerPersonGrp/PhoneNum02522946920
ReturnHeader/PreparerPersonGrp/PreparationDt02026-02-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rebekah T Barr
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02026-02-25T12:00:47-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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