Civic Intelligence

Triangle Charter Education Association Inc.

990 • Fiscal year 2022 • EIN 90-1031905

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization ProfileWWW.TRIANGLECHARTEREDUCATIONASSOCIATION.ORG
1020 St Charles PlaceCary, NC 27513

(919) 870-8763

Siviq Scores

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

Liabilities / Assets

95th percentile

1.16x

Higher debt load relative to assets than 95% of similar nonprofits.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

79th percentile

1.52x

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

2022 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2022

Net Margin

21st percentile

-1.3%

Higher net margin than 21% of similar nonprofits.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2022

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.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Source year 2022

Asset Growth

25th percentile

-1.8%

Faster asset growth than 25% of similar nonprofits.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

64th percentile

18%

Faster revenue growth than 64% of similar nonprofits.

2022 filings • NTEE B29 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$23,342,230

Down $433,654 (-1.8%) from 2021

Net Assets

Down

-$3,668,943

Down $226,030 (-6.6%) from 2021

Liabilities

Down

$27,011,173

Down $207,624 (-0.8%) from 2021

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin21st percentile

Revenue

Up

$17,804,747

Up $2,656,028 (+18%) from 2021

Expenses

Up

$18,030,777

Up $2,562,474 (+17%) from 2021

Net Income

Up

-$226,030

Up $93,554 (+29%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$40M$20M$0-$20MAssets 2015: $14,540,307Liabilities 2015: $15,261,088Net Assets 2015: -$720,7812015Assets 2016: $13,871,276Liabilities 2016: $14,889,404Net Assets 2016: -$1,018,1282016Assets 2017: $13,533,688Liabilities 2017: $14,707,392Net Assets 2017: -$1,173,7042017Assets 2018: $12,272,143Liabilities 2018: $14,082,132Net Assets 2018: -$1,809,9892018Assets 2019: $11,305,189Liabilities 2019: $13,726,677Net Assets 2019: -$2,421,4882019Assets 2020: $10,387,317Liabilities 2020: $13,510,646Net Assets 2020: -$3,123,3292020Assets 2021: $23,775,884Liabilities 2021: $27,218,797Net Assets 2021: -$3,442,9132021Assets 2022: $23,342,230Liabilities 2022: $27,011,173Net Assets 2022: -$3,668,9432022Assets 2023: $34,519,295Liabilities 2023: $38,709,458Net Assets 2023: -$4,190,1632023Assets 2024: $32,364,888Liabilities 2024: $38,355,316Net Assets 2024: -$5,990,4282024

Highlighted filing

2022

Assets$23,342,230
Liabilities$27,011,173
Net Assets-$3,668,943
Open 2022 Filing

Operations Trend

Revenue Growth64th percentile

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

$20M$10M$0-$10MRevenue 2015: $5,186,544Expenses 2015: $5,907,325Net Income 2015: -$720,7812015Revenue 2016: $7,302,798Expenses 2016: $7,600,145Net Income 2016: -$297,3472016Revenue 2017: $9,164,098Expenses 2017: $9,319,674Net Income 2017: -$155,5762017Revenue 2018: $8,787,365Expenses 2018: $9,423,650Net Income 2018: -$636,2852018Revenue 2019: $8,340,327Expenses 2019: $8,951,826Net Income 2019: -$611,4992019Revenue 2020: $8,864,608Expenses 2020: $9,566,449Net Income 2020: -$701,8412020Revenue 2021: $15,148,719Expenses 2021: $15,468,303Net Income 2021: -$319,5842021Revenue 2022: $17,804,747Expenses 2022: $18,030,777Net Income 2022: -$226,0302022Revenue 2023: $18,160,737Expenses 2023: $18,681,957Net Income 2023: -$521,2202023Revenue 2024: $16,591,358Expenses 2024: $18,391,623Net Income 2024: -$1,800,2652024

Highlighted filing

2022

Revenue$17,804,747
Expenses$18,030,777
Net Income-$226,030
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$17,804,747
Mission and Program Overview

Mission

The triangle charter educational association is a north carolina not-for-profit entity organized exclusively for educational purposes and is comprised of respected leaders in the state of north carolina that are committed to providing high quality educational options for the citizens of the state. The association governs cardinal charter academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,671,908$20,446,502▼ $1,225,406
Cash and Non-Interest-Bearing Accounts$2,027,715$2,600,912▲ $573,197
Cap Stk Tr Prin Current Funds$278,725$634,080▲ $355,355
Pledges and Grants Receivable$37,095$216,984▲ $179,889
Prepaid Expenses and Deferred Charges$8,913$45,195▲ $36,282
Accounts Receivable$6,831$7,219▲ $388
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$-3,721,638$-4,303,023▼ $581,385
Total Assets$23,775,884$23,342,230▼ $433,654
Other Assets Total$23,422$25,418▲ $1,996
Liabilities
Other Liabilities$26,290,160$26,284,649▼ $5,511
Accounts Payable and Accrued Expenses$928,637$726,524▼ $202,113
Total Liabilities$27,218,797$27,011,173▼ $207,624
Net Assets / Fund Balance
Total Net Assets Fund Balance$-3,442,913$-3,668,943▼ $226,030
Total Liabilities and Net Assets / Fund Balance$23,775,884$23,342,230▼ $433,654

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,784,019$5,978,331$25,762,350
Equipment$655,221$2,058,579$2,713,800
Leasehold Improvements$7,262$11,231$18,493
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
E Allen Taylor JrPresident
Alex KrawchickVice President
Lisa SwinsonDirector
Megan ChristieSecretary
Charles BrittTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
10jin LLCProfessional Services800 CORPORATE DR STE 424, Fort Lauderdale, FL 33334$288,214
Revenue and Support

Revenue Composition

Contributions and Grants
$16,890,533
Program Service Revenue
$914,214
Investment Income
$0
Other Revenue
$0
All Other Contributions
$873,735
Change in Net Assets
$-226,030

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,931,108
Revenue Not Reported on Financial Statements
$873,639
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$873,639
Total Revenue per Audited Statements
$16,931,108
Total Revenue per Form 990
$17,804,747
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,411,426
Salaries, Compensation, and Employee Benefits$7,619,351
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,721,723$598,069-$6,319,792
Interest-$2,781,290-$2,781,290
Fees for Services Other$1,219,960$664,771-$1,884,731
Depreciation Depletion$1,375,815--$1,375,815
Fees for Services Management-$839,889-$839,889
Other Employee Benefits$684,458$75,300-$759,758
Payroll Taxes$469,139$52,007-$521,146
Fees for Services Accounting-$358,095-$358,095
Occupancy$333,629--$333,629
All Other Expenses$206,783$40,463-$247,246
Other Expenses$440,591$188,965-$188,965
Information Technology$144,477--$144,477
Fees for Services Legal-$68,620-$68,620
Advertising$61,023--$61,023
Pension Plan Contributions$18,251$404-$18,655
Office Expenses-$16,124-$16,124
Insurance$7,960--$7,960
Travel-$7,589-$7,589
Total Functional Expenses$12,122,585$5,908,192$0$18,030,777

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$18,030,777
Expenses per Audited Statements$17,157,138
Total Expenses per Audited Statements$17,157,138
Expenses Not Reported on Financial Statements$873,639
Other Expense Adjustments$873,639
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
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
Capital Lease Liabilities$24,749,525
Due to Management Company$1,014,437
Interest Payable$419,254
Due to Other Governments$56,367
Compensated Absences$45,066
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
No
Other officer compensation reviewed
No
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

“The association contracted with a charter school management company to be accountable to the board for the administration, operation, and performance of the charter school in accordance with the charter agreement.”

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

“A copy of form 990 was provided to the board of directors by the association's independent accounting firm. It was reviewed and approved by the governing board prior to government submission.”

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

“The conflict of interest policy is monitored and enforced through the standards and provisions set forth by the north carolina state board of education. Board members are required to disclose any possible conflicts of interest annually.”

Form 990, Part VI, Section C, Line 18

“The association's form 990 is available upon request to the management company. The form 990 can also be found on www.guidestar.com.”

Form 990, Part VI, Section C, Line 19

“The association makes its governing documents, conflicts of interest policy, and audited financial statements available to the public upon request to the management company.”

Filing and Contact Details

Filer

Filer Name
Triangle Charter Education
EIN
90-1031905
Phone
9198708763
Address
1020 ST CHARLES PLACE, CARY, NC 27513

Signing Officer

Name
E Allen Taylor Jr
Title
President
Phone
9198708763
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
E Allen Taylor Jr
Formed
2013
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
KEEFE MCCULLOUGH & CO LLP CPA'S
Address
6550 N FEDERAL HIGHWAY SUITE 410, FT LAUDERDALE, FL 33308
Preparer
William G Benson
Phone
9547710896
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees: program service expenses 465,037. Management and general expenses 24,024. Fundraising expenses 0. Total expenses 489,061. Contracted labor: program service expenses 754,923. Management and general expenses 640,747. Fundraising expenses 0. Total expenses 1,395,670.”

Form 990, Part XII, Line 2C

“There were no changes from prior year.”

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Csusa management fee sponsorship 873,639.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Csusa management fee sponsorship 873,639.”

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IRS990/Desc0CARDINAL CHARTER ACADEMY: IS A TUITION-FREE PUBLIC CHARTER SCHOOL EDUCATING STUDENTS IN GRADES K-8 WHO RESIDE IN NORTH CAROLINA. THE SCHOOL CURRENTLY PROVIDES EDUCATION TO STUDENTS FROM KINDERGARTEN THROUGH EIGHTH GRADE. THE ACADEMY'S MISSION IS TO BUILD A STUDENT-CENTERED LEARNING ENVIRONMENT THAT IS PROJECT-BASED AND TECHNOLOGY-DRIVEN IN WHICH STUDENTS CAN REACH THEIR ACADEMIC POTENTIAL. WE VALUE ACADEMIC SUCCESS THROUGH THE USE OF DATA TO MEET INDIVIDUAL DIVERSE STUDENT NEEDS. CARDINAL CHARTER ACADEMY WILL FOSTER A CULTURE OF INNOVATION AND INQUIRY USING TECHNOLOGY AS THE MEDIUM.
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IRS990/OtherExpensesGrp/TotalAmt3188965
IRS990/OtherLiabilitiesGrp/BOYAmt026290160
IRS990/OtherLiabilitiesGrp/EOYAmt026284649
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0598069
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt05721723
IRS990/OtherSalariesAndWagesGrp/TotalAmt06319792
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt052007
IRS990/PayrollTaxesGrp/ProgramServicesAmt0469139
IRS990/PayrollTaxesGrp/TotalAmt0521146
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0-3721638
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0-4303023
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0404
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt018251
IRS990/PensionPlanContributionsGrp/TotalAmt018655
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt037095
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0216984
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08913
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt045195
IRS990/PrincipalOfficerNm0E ALLEN TAYLOR JR
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0FOOD SERVICES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0914214
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0914214
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt014894249
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt07894620
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0254470
IRS990/PYRevenuesLessExpensesAmt0-319584
IRS990/PYSalariesCompEmpBnftPaidAmt07573683
IRS990/PYTotalExpensesAmt015468303
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt015148719
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-226030
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0914214
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/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/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt019784019
IRS990ScheduleD/BuildingsGrp/DepreciationAmt05978331
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt025762350
IRS990ScheduleD/EquipmentGrp/BookValueAmt0655221
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02058579
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02713800
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0873639
IRS990ScheduleD/ExpensesSubtotalAmt017157138
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt07262
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt011231
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt018493
IRS990ScheduleD/OtherExpensesNotIncludedAmt0873639
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt024749525
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt145066
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21014437
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3419254
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt456367
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL LEASE LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1COMPENSATED ABSENCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO MANAGEMENT COMPANY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4DUE TO OTHER GOVERNMENTS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0873639
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0873639
IRS990ScheduleD/RevenueSubtotalAmt016931108
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CSUSA MANAGEMENT FEE SPONSORSHIP 873,639.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CSUSA MANAGEMENT FEE SPONSORSHIP 873,639.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt020446502
IRS990ScheduleD/TotalExpensesPerForm990Amt018030777
IRS990ScheduleD/TotalLiabilityAmt026284649
IRS990ScheduleD/TotalRevenuePerForm990Amt017804747
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt016931108
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt017157138
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/ExplanationTxt0THE ASSOCIATION INCLUDES PUBLIC CHARTER SCHOOLS ORGANIZED UNDER NORTH CAROLINA STATUTES. ALL NONDISCRIMINATORY INFORMATION IS AVAILABLE THROUGH VARIOUS PUBLIC ANNOUCEMENTS AND PUBLICATIONS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ASSOCIATION RECEIVES COMPENSATION FOR SERVICES IN THE FORM OF AWARDS, GRANTS AND OTHER SUBSIDIES FROM FEDERAL, STATE AND LOCAL GOVERNMENTS, WHICH ALSO INCLUDES FUNDING FOR STUDENT ENROLLMENT.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION CONTRACTED WITH A CHARTER SCHOOL MANAGEMENT COMPANY TO BE ACCOUNTABLE TO THE BOARD FOR THE ADMINISTRATION, OPERATION, AND PERFORMANCE OF THE CHARTER SCHOOL IN ACCORDANCE WITH THE CHARTER AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS BY THE ASSOCIATION'S INDEPENDENT ACCOUNTING FIRM. IT WAS REVIEWED AND APPROVED BY THE GOVERNING BOARD PRIOR TO GOVERNMENT SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS MONITORED AND ENFORCED THROUGH THE STANDARDS AND PROVISIONS SET FORTH BY THE NORTH CAROLINA STATE BOARD OF EDUCATION. BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ASSOCIATION'S FORM 990 IS AVAILABLE UPON REQUEST TO THE MANAGEMENT COMPANY. THE FORM 990 CAN ALSO BE FOUND ON WWW.GUIDESTAR.COM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ASSOCIATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST TO THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 465,037. MANAGEMENT AND GENERAL EXPENSES 24,024. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 489,061. CONTRACTED LABOR: PROGRAM SERVICE EXPENSES 754,923. MANAGEMENT AND GENERAL EXPENSES 640,747. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,395,670.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THERE WERE NO CHANGES FROM PRIOR YEAR.
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 C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt023775884
IRS990/TotalAssetsEOYAmt023342230
IRS990/TotalAssetsGrp/BOYAmt023775884
IRS990/TotalAssetsGrp/EOYAmt023342230
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt016890533
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05908192
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt012122585
IRS990/TotalFunctionalExpensesGrp/TotalAmt018030777
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt027218797
IRS990/TotalLiabilitiesEOYAmt027011173
IRS990/TotalLiabilitiesGrp/BOYAmt027218797
IRS990/TotalLiabilitiesGrp/EOYAmt027011173
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-3442913
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3668943
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt012122585
IRS990/TotalProgramServiceRevenueAmt0914214
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0914214
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt017804747
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt023775884
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023342230
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt07589
IRS990/TravelGrp/TotalAmt07589
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt011408 LOSTWOOD LN
IRS990/USAddress/CityNm0RALEIGH
IRS990/USAddress/StateAbbreviationCd0NC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,342,230
Liabilities
$27,011,173
Net assets
-$3,668,943
Revenue
$17,804,747
Expenses
$18,030,777
Net income
-$226,030
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$32.4$38.4$5.99$16.6$18.4$1.80
2023Detailed filing. Detailed filing data is available for this year.$34.5$38.7$4.19$18.2$18.7$0.52
2022Detailed filing. Detailed filing data is available for this year.$23.3$27.0$3.67$17.8$18.0$0.23
2021Detailed filing. Detailed filing data is available for this year.$23.8$27.2$3.44$15.1$15.5$0.32
2020Detailed filing. Detailed filing data is available for this year.$10.4$13.5$3.12$8.86$9.57$0.70
2019Detailed filing. Detailed filing data is available for this year.$11.3$13.7$2.42$8.34$8.95$0.61
2018Detailed filing. Detailed filing data is available for this year.$12.3$14.1$1.81$8.79$9.42$0.64
2017Detailed filing. Detailed filing data is available for this year.$13.5$14.7$1.17$9.16$9.32$0.16
2016Detailed filing. Detailed filing data is available for this year.$13.9$14.9$1.02$7.30$7.60$0.30
2015Detailed filing. Detailed filing data is available for this year.$14.5$15.3$0.72$5.19$5.91$0.72