Form 990 for tax year 2023

Filed by DORAL ACADEMY OF NORTH CAROLINA.

Totals

Total revenue: $5,946,322
Total expenses: $5,314,431
Contributions and grants received: $5,010,298
Grants paid: $0
Program service revenue: $780,035
Investment income: $33,485
Other revenue: $122,504
Total assets, end of year: $6,126,544
Total liabilities, end of year: $5,276,786
Net assets or fund balances, end of year: $849,758
Program services expenses (Part IX): $4,067,042
Management and general expenses: $1,247,389
Fundraising expenses: $0
Program service expenses (Part III): $4,067,042

Program services were 76.5% 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)

$5,010,298
2a · Program service revenue: AFTER SCHOOL CARE

total $299,541 · related or exempt $299,541
2b · Program service revenue: PRE-K INCOME

total $283,465 · related or exempt $283,465
2c · Program service revenue: COMMUNITY SERVICES

total $106,156 · related or exempt $106,156
2d · Program service revenue: LUNCH

total $55,673 · related or exempt $55,673
2e · Program service revenue: USAGE AND RENTAL FEES

total $35,200 · related or exempt $35,200
3 · Investment income

total $33,485 · related or exempt $33,485
11a · Other revenue: MISCELLANEOUS INCOME

total $83,143 · related or exempt $83,143
11b · Other revenue: E-RATE REBATES

total $39,361 · related or exempt $39,361
11e · Other revenue, total

$122,504

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $2,113,053 · program services $1,605,825 · management and general $507,228
8 · Pension plan contributions

total $77,451 · program services $77,451
9 · Other employee benefits

total $373,115 · program services $317,297 · management and general $55,818
11a · Fees: management

total $214,500 · management and general $214,500
11b · Fees: legal

total $23,119 · management and general $23,119
11c · Fees: accounting

total $7,275 · management and general $7,275
11g · Fees: other

total $143,813 · program services $143,663 · management and general $150
12 · Advertising and promotion

total $1,438 · management and general $1,438
13 · Office expenses

total $199,708 · program services $168,932 · management and general $30,776
14 · Information technology

total $90,234 · program services $87,001 · management and general $3,233
16 · Occupancy

total $606,281 · program services $503,656 · management and general $102,625
22 · Depreciation, depletion and amortization

total $257,257 · program services $237,090 · management and general $20,167
23 · Insurance

total $46,719 · program services $21,553 · management and general $25,166
24a · Other expenses: AFTERCARE / PRE-K EXPEN

total $504,312 · program services $504,312
24b · Other expenses: REPAIRS & MAINTENANCE

total $175,449 · program services $175,449
24c · Other expenses: FOOD

total $167,486 · program services $22,672 · management and general $144,814
24d · Other expenses: MISCELLENOUSE EXPENSES

total $95,788 · program services $95,788
24e · All other expenses

total $217,433 · program services $106,353 · management and general $111,080

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,168,103 · end of year $1,785,400
4 · Accounts receivable

beginning of year $51,643 · end of year $132,168
9 · Prepaid expenses and deferred charges

beginning of year $199,915 · end of year $121,062
10a · Land, buildings and equipment: cost or other basis

$1,181,090
10b · Land, buildings and equipment: accumulated depreciation

$628,727
10c · Land, buildings and equipment, net

beginning of year $743,281 · end of year $552,363
15 · Other assets

beginning of year $3,959,817 · end of year $3,535,551
17 · Accounts payable and accrued expenses

beginning of year $707,105 · end of year $425,833
25 · Other liabilities

beginning of year $5,197,786 · end of year $4,850,953
29 · Capital stock, trust principal or current funds

beginning of year $0 · end of year $0
30 · Paid-in or capital surplus, or land, building or equipment fund

beginning of year $0 · end of year $0
31 · Retained earnings, endowment or other funds

beginning of year $217,867 · end of year $849,758

Mission and programs · 2023

Mission

THE VISION OF DORAL ACADEMY NORTH CAROLINA IS TO DELIVER AN EXCEPTIONAL EDUCATIONAL EXPERIENCE THAT ENGAGES STUDENTS IN RIGOROUS LEARNING THROUGH STEAM EDUCATION, EMPOWERING THEM TO BE LIFELONG LEARNERS AND SUCCESSFUL FUTURE LEADERS.

Activities or mission (Part I)

DORAL ACADEMY OF NORTH CAROLINA WILL PROVIDE QUALITY INSTRUCTION, HIGH EXPECTATIONS, AND A STANDARD-BASED CURRICULUM WITH A FOCUS ON STEAM. THE SCHOOL WILL PREPARE STUDENTS FOR HIGH ACADEMIC PERFORMANCE, STIMULATE THEIR LIFELONG LOVE OF MATH AND SCIENCE AND CREATE NEW PATHWAYS FOR THEM TO PURSUE ACADEMIC AND PROFESSIONAL CAREERS IN THE FIELDS OF MATH, SCIENCE, ENGINEERING, THE ARTS AND TECHNOLOGY. THE LEARNING ENVIRONMENT WILL SUPPORT THE SCHOOLS MISSION OF DELIVERING AN EXCEPTIONAL EDUCATIONAL EXPERIENCE.

DORAL ACADEMY OF NORTH CAROLINA IS DEDICATED TO PROVIDING A WELL-ROUNDED ACADEMIC CURRICULUM FOR OUTSTANDING STUDENT ACHIEVEMENT WHILE PREPARING STUDENTS TO BECOME CREATIVE PROBLEM SOLVERS BY EMPHASIZING THE INTERCONNECTIONS BETWEEN SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH; THEREFORE, PREPARING STUDENTS TO BE READY FOR THE CHALLENGES OF AN EVER-EVOLVING WORLD.FOR THE FISCAL YEAR ENDED JUNE 30, 2024, 420 STUDENTS WERE ENROLLED.

Expenses $4,067,042 · Revenue $936,024

As filed on the 2023 return.

Listed in Part VII

David CorreaDAVID CORREA

BOARD CHAIR

Total calculated

$0

Hours/week

2
Lucinda ShoreLUCINDA SHORE

VICE-CHAIR

Total calculated

$0

Hours/week

2
Douglas RodriguezDOUGLAS RODRIGUEZ

BOARD MEMBER

Total calculated

$0

Hours/week

2
Cecilia GuilarteCECILIA GUILARTE

BOARD MEMBER

Total calculated

$0

Hours/week

2
Elizabeth SmithELIZABETH SMITH

RESIGNED 02/21/24

Total calculated

$0

Hours/week

2
Calvin StevensCALVIN STEVENS

RESIGNED 06/13/24

Total calculated

$0

Hours/week

2
Annaliet EchanizANNALIET ECHANIZ

PRINCIPAL

Total calculated

$127,696

From this org

$127,696

From related orgs

$0

Other

$0

Hours/week

40

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.

Schedule J

Answered yes

3 · Written employment contract
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2023
Filed: 14 May 2025
IRS schema version: 2023v6.0
Source object: 202521349349302287

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