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Nonprofiteer
← NORTH EAST CAROLINA PREPARATORY SCHOOL INC

Form 990 for tax year 2022

Filed by NORTH EAST CAROLINA PREPARATORY SCHOOL INC.

Totals

Total revenue
$10,947,080
Total expenses
$10,239,597
Contributions and grants received
$10,529,078
Grants paid
$0
Program service revenue
$279,188
Investment income
$43,852
Other revenue
$94,962
Total assets, end of year
$24,353,729
Total liabilities, end of year
$21,900,368
Net assets or fund balances, end of year
$2,453,361
Program services expenses (Part IX)
$7,829,892
Management and general expenses
$2,409,705
Fundraising expenses
$0
Program service expenses (Part III)
$7,829,892

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)

    $10,457,540

  • 1f · All other contributions, gifts and grants

    $71,538

  • 2a · Program service revenue: STUDENT ACTIVITIES & FEES

    total $122,527 · related or exempt $122,527

  • 2b · Program service revenue: FOOD SERVICE

    total $78,525 · related or exempt $78,525

  • 2c · Program service revenue: PRE K STUDENT FEES

    total $78,136 · related or exempt $78,136

  • 3 · Investment income

    total $41,852 · excluded $41,852

  • 7a · Gross sales of assets other than inventory

    other assets $5,803

  • 7b · Less cost or other basis and sales expenses

    other assets $3,803

  • 7c · Gain or loss

    other assets $2,000

  • 7d · Net gain or loss

    total $2,000 · related or exempt $2,000

  • 8a · Fundraising events: gross income

    $47,119

  • 8c · Net income from fundraising events

    total $47,119

  • 11a · Other revenue: SALES TAX REFUND

    total $36,231 · related or exempt $36,231

  • 11b · Other revenue: INSURANCE SETTLEMENT

    total $11,612 · related or exempt $11,612

  • 11e · Other revenue, total

    $47,843

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $57,650 · program services $40,847 · management and general $16,803

  • 7 · Other salaries and wages

    total $5,162,441 · program services $3,657,589 · management and general $1,504,852

  • 9 · Other employee benefits

    total $479,171 · program services $339,493 · management and general $139,678

  • 10 · Payroll taxes

    total $391,494 · program services $277,374 · management and general $114,120

  • 11b · Fees: legal

    total $35,946 · program services $25,468 · management and general $10,478

  • 11c · Fees: accounting

    total $16,200 · program services $11,478 · management and general $4,722

  • 11g · Fees: other

    total $604,144 · program services $428,036 · management and general $176,108

  • 12 · Advertising and promotion

    total $20,680 · program services $14,652 · management and general $6,028

  • 13 · Office expenses

    total $44,493 · program services $31,523 · management and general $12,970

  • 14 · Information technology

    total $321,438 · program services $227,739 · management and general $93,699

  • 16 · Occupancy

    total $180,956 · program services $128,207 · management and general $52,749

  • 17 · Travel

    total $93,652 · program services $66,352 · management and general $27,300

  • 20 · Interest

    total $1,283,567 · program services $1,283,567

  • 22 · Depreciation, depletion and amortization

    total $866,539 · program services $814,918 · management and general $51,621

  • 23 · Insurance

    total $117,781 · program services $83,448 · management and general $34,333

  • 24a · Other expenses: FOOD

    total $215,762 · program services $152,867 · management and general $62,895

  • 24b · Other expenses: BOOKS AND SUPPLIES

    total $194,828 · program services $138,036 · management and general $56,792

  • 24c · Other expenses: ADMIN SERVICES

    total $53,072 · program services $37,602 · management and general $15,470

  • 24d · Other expenses: NONCAP EQUIP & LEASES

    total $41,739 · program services $29,572 · management and general $12,167

  • 24e · All other expenses

    total $58,044 · program services $41,124 · management and general $16,920

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,432,260 · end of year $3,112,921

  • 2 · Savings and temporary cash investments

    beginning of year $1,644,677 · end of year $1,727,939

  • 3 · Pledges and grants receivable

    beginning of year $96,624 · end of year $212,812

  • 4 · Accounts receivable

    beginning of year $3,402 · end of year $1,945

  • 9 · Prepaid expenses and deferred charges

    beginning of year $53,292 · end of year $46,495

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

    $22,401,597

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

    $3,149,980

  • 10c · Land, buildings and equipment, net

    beginning of year $19,824,735 · end of year $19,251,617

  • 14 · Intangible assets

    beginning of year $560,202

  • 15 · Other assets

    beginning of year $18,654,352

  • 17 · Accounts payable and accrued expenses

    beginning of year $71,658 · end of year $63,088

  • 19 · Deferred revenue

    beginning of year $18,016,924 · end of year $3,021

  • 20 · Tax-exempt bond liabilities

    beginning of year $22,234,572 · end of year $21,834,259

  • 27 · Net assets without donor restrictions

    beginning of year $2,946,390 · end of year $725,422

  • 28 · Net assets with donor restrictions

    end of year $1,727,939

Mission and programs · 2022

Mission

NORTH EAST CAROLINA PREPARATORY SCHOOL IS A PUBLIC CHARTER SCHOOL SERVING GRADES K-12 IN TARBORO, NORTH CAROLINA.

  • PROVIDE FACILITIES, TEACHERS, AND MATERIALS FOR STUDENTS ENROLLED IN A PUBLIC CHARTER SCHOOL.

    Expenses $7,829,892 · Revenue $279,188

As filed on the 2022 return.

Listed in Part VII

  • William Etheridge

    EXECUTIVE DI

    Total calculated
    $57,651
    From this org
    $57,651
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Cara Archer

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ella Batts

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisa Knight

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anne Mann

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Beatriz Ward

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Mark Cockrell

    EXECUTIVE DI

    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.

  • NECP HOLDINGS LLC

    RENTAL · NC · income $1,773,775 · assets $19,660,282

    Directly controlled by NORTH EAST

Provenance

Return type
form_990
Tax year
2022
Filed
19 April 2023
IRS schema version
2022v5.0
Source object
202431179349301113

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