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← TRIAD EDUCATIONAL SERVICES INC

Form 990 for tax year 2022

Filed by TRIAD EDUCATIONAL SERVICES INC.

Totals

Total revenue
$7,577,228
Total expenses
$5,200,006
Contributions and grants received
$1,259,000
Grants paid
$28,418
Program service revenue
$4,857,085
Investment income
$1,095,237
Other revenue
$365,906
Total assets, end of year
$103,340,096
Total liabilities, end of year
$105,943,034
Net assets or fund balances, end of year
-$2,602,938
Program services expenses (Part IX)
$5,152,987
Management and general expenses
$47,019
Fundraising expenses
$0
Program service expenses (Part III)
$5,152,987

Program services were 99.1% 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.

  • 1d · Related organizations

    $1,259,000

  • 2a · Program service revenue: RENTAL INCOME

    total $4,672,045 · related or exempt $4,672,045

  • 2b · Program service revenue: SERVICE INCOME

    total $185,040 · related or exempt $185,040

  • 3 · Investment income

    total $1,095,237 · excluded $1,095,237

  • 11a · Other revenue: CONSTRUCTION PROJECT REFUNDS

    total $287,453 · related or exempt $287,453

  • 11b · Other revenue: REPAIR & REPLACEMENT FUNDS

    total $78,453 · related or exempt $78,453

  • 11e · Other revenue, total

    $365,906

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $28,418 · program services $28,418

  • 7 · Other salaries and wages

    total $111,155 · program services $88,924 · management and general $22,231

  • 8 · Pension plan contributions

    total $13,030 · program services $10,424 · management and general $2,606

  • 9 · Other employee benefits

    total $24,641 · program services $19,713 · management and general $4,928

  • 11b · Fees: legal

    total $8,502 · program services $8,502

  • 11f · Fees: investment management

    total $5,350 · management and general $5,350

  • 13 · Office expenses

    total $6,051 · management and general $6,051

  • 20 · Interest

    total $3,451,094 · program services $3,451,094

  • 22 · Depreciation, depletion and amortization

    total $1,224,559 · program services $1,224,559

  • 23 · Insurance

    total $294 · management and general $294

  • 24a · Other expenses: NON-CAPITALIZED IMPROVEME

    total $286,711 · program services $286,711

  • 24b · Other expenses: BOND ADMINISTRATION FEES

    total $19,251 · program services $19,251

  • 24c · Other expenses: DUES AND SUBSCRIPTION

    total $8,630 · program services $8,630

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $6,065 · program services $6,065

  • 24e · All other expenses

    total $6,255 · program services $696 · management and general $5,559

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $824,014 · end of year $372,988

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

    $70,113,387

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

    $7,211,070

  • 10c · Land, buildings and equipment, net

    beginning of year $46,182,058 · end of year $62,902,317

  • 11 · Investments: publicly traded securities

    beginning of year $18,306,660 · end of year $40,064,791

  • 17 · Accounts payable and accrued expenses

    beginning of year $545,035 · end of year $565,734

  • 20 · Tax-exempt bond liabilities

    beginning of year $66,791,599 · end of year $103,445,000

  • 23 · Secured mortgages and notes payable

    beginning of year $790,000

  • 25 · Other liabilities

    end of year $1,932,300

  • 27 · Net assets without donor restrictions

    beginning of year -$2,813,902 · end of year -$2,602,938

Mission and programs · 2022

Mission

TO PROVIDE FACILITIES FOR CHARTER SCHOOLS OPERATING IN NORTH CAROLINA.

Activities or mission (Part I)

TO PROVIDE FACILITIES FOR CHARTER SCHOOLS OPERATING IN NORTH CAROLINA

  • PROVIDED FACILITIES AND GROUNDS MANTENANCE FOR TRIAD MATH AND SCIENCE ACADEMY & TRIANGLE MATH AND SCIENCE ACADEMY, CHARTER SCHOOLS LOCATED IN NORTH CAROLINA.

    Expenses $5,152,987 · Grants $28,418 · Revenue $4,857,085

As filed on the 2022 return.

Listed in Part VII

  • Dr Ahmet Bozdag

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Tuncay Gedik

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mumin Karamisir

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Shkerah McDowell

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Fahrudin Mekic

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mustafa Tosun

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Murat Bakir PhD

    BUSINESS MAN

    Total calculated
    $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.

Grants on this return

  • $28,418

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • CHARLOTTE EDUCATION SERVICES LLC

    REAL ESTAT · NC · income $1,444,392 · assets $13,467,187

    Directly controlled by TRIAD EDUC

Provenance

Return type
form_990
Tax year
2022
Filed
19 February 2024
IRS schema version
2022v5.0
Source object
202410519349300211

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