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← DORAL ACADEMY OF NORTH CAROLINA

Form 990 for tax year 2022

Filed by DORAL ACADEMY OF NORTH CAROLINA.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 14 May 2025. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$4,260,127 changed to $4,139,339
Total expenses
$3,586,054 changed to $3,595,935
Contributions and grants received
$3,589,114 changed to $3,597,615
Program service revenue
$618,505 changed to $489,991
Other revenue
$17,790 changed to $17,015
Total assets, end of year
$6,056,259 changed to $6,122,759
Total liabilities, end of year
$5,707,722 changed to $5,904,891
Net assets or fund balances, end of year
$348,537 changed to $217,868
Program services expenses
$2,519,979 changed to $2,553,526
Management and general expenses
$1,066,075 changed to $1,042,409
Program service expenses (Part III)
$2,519,979 changed to $2,553,526

Totals

Total revenue
$4,260,127
Total expenses
$3,586,054
Contributions and grants received
$3,589,114
Grants paid
$0
Program service revenue
$618,505
Investment income
$34,718
Other revenue
$17,790
Total assets, end of year
$6,056,259
Total liabilities, end of year
$5,707,722
Net assets or fund balances, end of year
$348,537
Program services expenses (Part IX)
$2,519,979
Management and general expenses
$1,066,075
Fundraising expenses
$0
Program service expenses (Part III)
$2,519,979

Program services were 70.3% 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)

    $3,589,114

  • 2a · Program service revenue: PRE-K INCOME

    total $312,802 · related or exempt $312,802

  • 2b · Program service revenue: AFTER SCHOOL CARE

    total $137,028 · related or exempt $137,028

  • 2c · Program service revenue: COMMUNITY SERVICES

    total $53,112 · related or exempt $53,112

  • 2d · Program service revenue: LUNCH

    total $47,023 · related or exempt $47,023

  • 2e · Program service revenue: USAGE AND RENTAL FEES

    total $41,127 · related or exempt $41,127

  • 2f · All other program service revenue

    total $27,413 · related or exempt $27,413

  • 3 · Investment income

    total $34,718 · related or exempt $34,718

  • 11a · Other revenue: E-RATE REBATES

    total $12,200 · related or exempt $12,200

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $5,590 · related or exempt $5,590

  • 11e · Other revenue, total

    $17,790

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,370,695 · program services $1,015,910 · management and general $354,785

  • 8 · Pension plan contributions

    total $24,886 · program services $15,795 · management and general $9,091

  • 9 · Other employee benefits

    total $274,877 · program services $222,938 · management and general $51,939

  • 11a · Fees: management

    total $214,500 · management and general $214,500

  • 11b · Fees: legal

    total $5,700 · management and general $5,700

  • 11c · Fees: accounting

    total $9,860 · management and general $9,860

  • 11g · Fees: other

    total $107,524 · program services $94,802 · management and general $12,722

  • 12 · Advertising and promotion

    total $5,520 · management and general $5,520

  • 13 · Office expenses

    total $135,336 · program services $75,817 · management and general $59,519

  • 14 · Information technology

    total $34,628 · program services $6,560 · management and general $28,068

  • 16 · Occupancy

    total $495,194 · program services $415,368 · management and general $79,826

  • 17 · Travel

    total $868 · program services $868

  • 22 · Depreciation, depletion and amortization

    total $237,138 · program services $219,381 · management and general $17,757

  • 23 · Insurance

    total $28,190 · management and general $28,190

  • 24a · Other expenses: AFTERCARE / PRE-K EXPEN

    total $353,819 · program services $353,819

  • 24b · Other expenses: UTILITIES

    total $92,000 · program services $2,640 · management and general $89,360

  • 24c · Other expenses: FOOD

    total $83,988 · management and general $83,988

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $79,718 · program services $79,718

  • 24e · All other expenses

    total $31,613 · program services $16,363 · management and general $15,250

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $507,625 · end of year $1,128,045

  • 4 · Accounts receivable

    beginning of year $187,622 · end of year $23,261

  • 9 · Prepaid expenses and deferred charges

    beginning of year $113,943 · end of year $201,195

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

    $1,115,682

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

    $371,741

  • 10c · Land, buildings and equipment, net

    beginning of year $483,109 · end of year $743,941

  • 15 · Other assets

    beginning of year $227,938 · end of year $3,959,817

  • 17 · Accounts payable and accrued expenses

    beginning of year $321,603 · end of year $546,305

  • 25 · Other liabilities

    beginning of year $1,524,170 · end of year $5,161,417

  • 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 -$325,536 · end of year $348,537

Mission and programs · 2022

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, 2023, 330 STUDENTS WERE ENROLLED.

    Expenses $2,519,979 · Revenue $671,013

As filed on the 2022 return.

Listed in Part VII

  • David Correa

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth Smith

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Calvin Stevens

    TREASURER / SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Douglas Rodriguez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Cecilia Guilarte

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

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
2022
Filed
25 April 2024
IRS schema version
2022v5.0
Source object
202401169349300605

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