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Nonprofiteer
← DAVIDSON CHARTER ACADEMY INC

Form 990 for tax year 2022

Filed by DAVIDSON CHARTER ACADEMY INC.

Totals

Total revenue
$5,593,279
Total expenses
$6,013,763
Contributions and grants received
$5,463,160
Grants paid
$0
Program service revenue
$0
Investment income
$87,809
Other revenue
$42,310
Total assets, end of year
$18,947,261
Total liabilities, end of year
$17,784,155
Net assets or fund balances, end of year
$1,163,106
Program services expenses (Part IX)
$3,693,919
Management and general expenses
$2,319,844
Fundraising expenses
$0
Program service expenses (Part III)
$3,693,919

Program services were 61.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $5,405,613

  • 1f · All other contributions, gifts and grants

    $57,547

  • 3 · Investment income

    total $23,736 · excluded $23,736

  • 4 · Income from investment of tax-exempt bond proceeds

    total $64,073 · excluded $64,073

  • 11a · Other revenue: SALES TAX REIMBURSEMENT

    total $21,677 · related or exempt $21,677

  • 11b · Other revenue: REIMBURSEMENT FOR LUNCH EXP

    total $19,593 · related or exempt $19,593

  • 11c · Other revenue: OTHER INCOME

    total $1,040 · related or exempt $1,040

  • 11e · Other revenue, total

    $42,310

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,871,907 · program services $1,723,144 · management and general $1,148,763

  • 8 · Pension plan contributions

    total $57,392 · program services $34,435 · management and general $22,957

  • 9 · Other employee benefits

    total $313,489 · program services $188,093 · management and general $125,396

  • 10 · Payroll taxes

    total $211,362 · program services $126,817 · management and general $84,545

  • 11b · Fees: legal

    total $6,907 · program services $4,144 · management and general $2,763

  • 11c · Fees: accounting

    total $12,010 · program services $7,206 · management and general $4,804

  • 11g · Fees: other

    total $595,345 · program services $357,207 · management and general $238,138

  • 12 · Advertising and promotion

    total $10,467 · program services $6,280 · management and general $4,187

  • 13 · Office expenses

    total $27,478 · program services $23,501 · management and general $3,977

  • 14 · Information technology

    total $124,255 · program services $74,553 · management and general $49,702

  • 16 · Occupancy

    total $62,279 · program services $37,392 · management and general $24,887

  • 17 · Travel

    total $52,106 · program services $31,264 · management and general $20,842

  • 19 · Conferences, conventions and meetings

    total $5,012 · program services $3,007 · management and general $2,005

  • 20 · Interest

    total $873,581 · program services $602,771 · management and general $270,810

  • 22 · Depreciation, depletion and amortization

    total $200,736 · program services $120,442 · management and general $80,294

  • 23 · Insurance

    total $34,973 · program services $20,984 · management and general $13,989

  • 24a · Other expenses: BOND ISSUANCE COST

    total $334,285 · program services $200,571 · management and general $133,714

  • 24b · Other expenses: FOOD PURCHASES

    total $75,454 · program services $45,272 · management and general $30,182

  • 24c · Other expenses: BOOKS AND SUPPLIES

    total $54,066 · program services $32,440 · management and general $21,626

  • 24d · Other expenses: ADMINISTRATIVE SERVICES

    total $46,226 · program services $27,736 · management and general $18,490

  • 24e · All other expenses

    total $44,433 · program services $26,660 · management and general $17,773

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,830,809 · end of year $816,577

  • 2 · Savings and temporary cash investments

    beginning of year $280,289 · end of year $1,536,690

  • 4 · Accounts receivable

    beginning of year $4,426 · end of year $6,555

  • 10a · Land, buildings and equipment: cost or other basis

    $17,052,006

  • 10b · Land, buildings and equipment: accumulated depreciation

    $464,567

  • 10c · Land, buildings and equipment, net

    beginning of year $8,866,102 · end of year $16,587,439

  • 17 · Accounts payable and accrued expenses

    beginning of year $124,936 · end of year $1,049,055

  • 20 · Tax-exempt bond liabilities

    beginning of year $9,273,100 · end of year $16,735,100

  • 27 · Net assets without donor restrictions

    beginning of year $1,583,590 · end of year $1,163,106

Mission and programs · 2022

Mission

TO FOSTER STUDENT LEARNING AND ACHIEVEMENT, AND INSPIRE STUDENTS TO BECOME INDEPENDENT THINKERS, EFFECTIVE COMMUNICATORS, AND CONTRIBUTING CITIZENS OF A GLOBAL SOCIETY.

  • OPERATED AS A CHARTER SCHOOL IN LEXINGTON, NC, SERVING APPROXIMATELY 556 STUDENTS FOR THE FISCAL YEAR ENDING 6/30/2023.

    Expenses $3,693,919

As filed on the 2022 return.

Listed in Part VII

  • WARREN ALSTON

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • KRISTIN BRIGGS

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRISTINE ENGLAND

    VICE-CHAIRPE

    Total calculated
    $0
    Hours/week
    3

  • ANDREW LANCE

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • GREG TURLINGTON

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    3

  • AMANDA WHITAKER

    MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2022
Filed
30 April 2024
IRS schema version
2022v5.0
Source object
202441369349312944

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