Civic Intelligence

Wayne STEM Academy

990 • Fiscal year 2024 • EIN 85-2141526

Jul 01, 2023 to Jun 30, 2024 • Filed on Apr 17, 2025

Organization ProfileWWW.WAYNESTEM.ORG
2950 Summit RoadGoldsboro, NC 27534

(984) 520-6341

Siviq Scores

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

Liabilities / Assets

84th percentile

1.06x

Higher debt load relative to assets than 84% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

8.65x

Higher debt load relative to revenue than 97% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Net Margin

2nd percentile

-43%

Higher net margin than 2% of similar nonprofits.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

29th percentile

$67,720

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2024 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

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

Source year 2024

Revenue Growth

Score unavailable

No value available

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

Source year 2024

Balance Sheet
Liabilities / Assets84th percentile

Assets

$16,525,584

No earlier filing loaded for comparison.

Net Assets

-$946,688

No earlier filing loaded for comparison.

Liabilities

$17,472,272

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin2nd percentile

Revenue

$2,019,062

No earlier filing loaded for comparison.

Expenses

$2,886,910

No earlier filing loaded for comparison.

Net Income

-$867,848

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.

$20M$15M$10M$5.0M$0-$5.0MAssets 2024: $16,525,584Liabilities 2024: $17,472,272Net Assets 2024: -$946,6882024Assets 2025: $12,602,916Liabilities 2025: $13,553,932Net Assets 2025: -$951,0162025

Highlighted filing

2024

Assets$16,525,584
Liabilities$17,472,272
Net Assets-$946,688
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$2.0M$0-$2.0MRevenue 2024: $2,019,062Expenses 2024: $2,886,910Net Income 2024: -$867,8482024Revenue 2025: $3,267,582Expenses 2025: $3,692,355Net Income 2025: -$424,7732025

Highlighted filing

2024

Revenue$2,019,062
Expenses$2,886,910
Net Income-$867,848
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 17, 2025
Return Version
2023v6.0
Gross Receipts
$2,019,062
Mission and Program Overview

Mission

Provide a challenging learning environment in science, technology, engineering, and math to a diverse student population, enabling them to become problem-solving, peace-building, solution-focused citizens. The curriculum is designed to stimulate curiosity, discovery, critical thinking, and collaboration, ensuring students are well-equipped to meet the challenges in the world around them.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$79,150-
Prepaid Expenses and Deferred Charges-$5,737-
Accounts Receivable-$4,590-
Total Assets$0$16,525,584▲ $16,525,584
Other Assets Total$0$16,436,107▲ $16,436,107
Liabilities
Other Liabilities$0$17,250,765▲ $17,250,765
Mortgage Notes Payable Secured by Investment Property-$160,125-
Accounts Payable and Accrued Expenses-$61,382-
Total Liabilities$0$17,472,272▲ $17,472,272
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$-946,688-
Total Net Assets Fund Balance$0$-946,688▼ $946,688
Total Liabilities and Net Assets / Fund Balance$0$16,525,584▲ $16,525,584

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$16,436,107--
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Todd ForgetteExecutive DirectorFT$67,720$67,720

Board Members and Trustees

NameTitle
Christina WattsChair
Chretien DumondVice Chair
Rhonda CoyneMember
Karina PaschtSecretary
Carla JacobsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,954,583
Program Service Revenue
$45,587
Investment Income
$0
Other Revenue
$18,892
All Other Contributions
$10,000
Change in Net Assets
$-867,848

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,019,062
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,019,062
Total Revenue per Form 990
$2,019,062
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,662,214
Salaries, Compensation, and Employee Benefits$1,224,696
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$636,637$368,235-$1,004,872
Interest$384,582$222,445-$607,027
Depreciation Depletion$292,691$169,294-$461,985
Fees for Services Other$136,925$79,198-$216,123
Payroll Taxes$57,348$33,171-$90,519
Current Officers, Directors, Trustees, and Key Employees$42,904$24,816-$67,720
Other Employee Benefits$34,393$19,893-$54,286
Occupancy$29,940$17,318-$47,258
Other Expenses$21,751$12,578-$34,329
Information Technology$18,455$10,675-$29,130
Insurance$14,765$8,540-$23,305
Advertising$10,233$5,919-$16,152
Travel$10,130$5,860-$15,990
Fees for Services Legal$6,430$3,719-$10,149
Pension Plan Contributions$4,624$2,675-$7,299
Office Expenses$1,743$1,008-$2,751
Conferences and Meetings$1,282$741-$2,023
Total Functional Expenses$1,829,004$1,057,906$0$2,886,910

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,886,910
Total Expenses per Audited Statements$2,886,910
Total Expenses per Form 990$2,886,910
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
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
Lease Liability$17,250,765
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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

“Form 990 is reviewed by the board of directors prior to filing.”

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

“Each board member is required to disclose any potential conflict of interest, which is then reviewed and resolved by the board of directors.”

Form 990, Part VI, Section B, Line 15

“Compensation for top officials and key employees is approved by the board of directors and is based on area comparability data and the individual's experience and expertise.”

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Wayne Stem Academy
EIN
85-2141526
Phone
9845206341
Address
2950 SUMMIT ROAD, GOLDSBORO, NC 27534

Signing Officer

Name
Bianca Vazquez
Title
Director of Finance
Phone
9845206341
Signed
2025-04-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Todd Forgette
Formed
2023
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
37
Volunteers
12

Preparer

Firm
Sharpe Patel CPA
Address
5510 SIX FORKS ROAD SUITE 140, RALEIGH, NC 27609
Preparer
Rebecca Fisher
Phone
7044993893
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Initial year adjustment of net assets -78,840.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02019062
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt016436107
IRS990ScheduleD/TotalExpensesPerForm990Amt02886910
IRS990ScheduleD/TotalLiabilityAmt017250765
IRS990ScheduleD/TotalRevenuePerForm990Amt02019062
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02019062
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02886910
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0WAYNE STEM ACADEMY OPERATES AS A PUBLIC CHARTER SCHOOL AND IS FUNDED BY THE STATE OF NORTH CAROLINA AND LOCAL GOVERNMENT. NORTH CAROLINA REQUIRES A POLICY OF NONDISCRIMINATON, AND THE SCHOOL'S NONDISCRIMINATION POLICY IS DISCLOSED IN ALL STUDENT SOLICITATIONS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL IS ORGANIZED AS A CHARTER SCHOOL UNDER NORTH CAROLINA GENERAL STATUE 115C-238-29A. ACCORDINGLY, IT RECEIVES BOTH FEDERAL AND STATE FUNDING AS IT'S PRIMARY MEANS OF SUPPORT.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH BOARD MEMBER IS REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST, WHICH IS THEN REVIEWED AND RESOLVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR TOP OFFICIALS AND KEY EMPLOYEES IS APPROVED BY THE BOARD OF DIRECTORS AND IS BASED ON AREA COMPARABILITY DATA AND THE INDIVIDUAL'S EXPERIENCE AND EXPERTISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, SCHOOL POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING AT THE SCHOOL'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INITIAL YEAR ADJUSTMENT OF NET ASSETS -78,840.
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 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
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IRS990/TravelGrp/ProgramServicesAmt010130
IRS990/TravelGrp/TotalAmt015990
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IRS990/WebsiteAddressTxt0HTTPS://WWW.WAYNESTEM.ORG/
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BIANCA VAZQUEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR OF FINANCE
ReturnHeader/BusinessOfficerGrp/PhoneNum09845206341
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-17
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ReturnHeader/PreparerPersonGrp/PhoneNum07044993893
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-17

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,525,584
Liabilities
$17,472,272
Net assets
-$946,688
Revenue
$2,019,062
Expenses
$2,886,910
Net income
-$867,848
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$12.6$13.6$0.95$3.27$3.69$0.42
2024Detailed filing. Detailed filing data is available for this year.$16.5$17.5$0.95$2.02$2.89$0.87