Form 990 for tax year 2023
Filed by WAYNE PREPARATORY ACADEMYCHARTER SCHOOL INC.
Totals
- Total revenue
- $10,263,334
- Total expenses
- $10,710,849
- Contributions and grants received
- $9,919,560
- Grants paid
- $0
- Program service revenue
- $93,649
- Investment income
- $0
- Other revenue
- $250,125
- Total assets, end of year
- $17,039,576
- Total liabilities, end of year
- $17,227,310
- Net assets or fund balances, end of year
- -$187,734
- Program services expenses (Part IX)
- $10,710,849
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $10,710,849
Program services were 100.0% 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)
$9,786,343
-
1f · All other contributions, gifts and grants
$133,217
-
2a · Program service revenue: LUNCH SERVICE
total $59,150 · related or exempt $59,150
-
2b · Program service revenue: AFTER SCHOOL CHILD CARE
total $34,499 · related or exempt $34,499
-
11a · Other revenue: MISCELLANEOUS
total $250,125 · related or exempt $250,125
-
11e · Other revenue, total
$250,125
Functional expenses
Part IX, the statement of functional expenses.
-
20 · Interest
total $359,785 · program services $359,785
-
24a · Other expenses: INSTRUCTIONAL EXPENSE
total $9,063,874 · program services $9,063,874
-
24b · Other expenses: SUPPORT SERVICE EXPENSE
total $1,251,410 · program services $1,251,410
-
24c · Other expenses: CHILD CARE EXPENSE
total $35,780 · program services $35,780
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $986,368 · end of year $858,583
-
4 · Accounts receivable
beginning of year $53,167 · end of year $70,352
-
9 · Prepaid expenses and deferred charges
beginning of year $54,602 · end of year $35,899
-
10a · Land, buildings and equipment: cost or other basis
$595,391
-
10b · Land, buildings and equipment: accumulated depreciation
$252,644
-
10c · Land, buildings and equipment, net
beginning of year $409,595 · end of year $342,747
-
15 · Other assets
beginning of year $17,266,824 · end of year $15,731,995
-
17 · Accounts payable and accrued expenses
beginning of year $384,881 · end of year $368,131
-
25 · Other liabilities
beginning of year $18,125,893 · end of year $16,859,179
-
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 $409,595 · end of year $342,747
-
31 · Retained earnings, endowment or other funds
beginning of year -$149,813 · end of year -$530,481
Mission and programs · 2023
Mission
TO OPERATE A CHARTER SCHOOL IN NORTH CAROLINA
-
PROVIDE FACILITIES, TEACHERS, AND MATERIALS TO STUDENTS ENROLLED AT A PUBLIC CHARTER SCHOOL.
Expenses $10,710,849 · Revenue $343,774
As filed on the 2023 return.
Listed in Part VII
-
Amanda WellsAMANDA WELLS
MEMBER AT LARGE
- Total calculated
- $0
- Hours/week
- 5
-
Scott MackeySCOTT MACKEY
CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Charles GaylorCHARLES GAYLOR
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Cady StantonCADY STANTON
BOARD SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Donna ScottDONNA SCOTT
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
John TwittyJOHN TWITTY
MANAGING DIRECTOR
- Total calculated
- $112,061
- From this org
- $104,100
- From related orgs
- $0
- Other
- $7,961
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $104,100
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $7,961
- Filer's total
- $112,061
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
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.
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.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
WAYNE PREPARATORY ACADEMY LP
TO DEVELOP A NEW SCHOOL FACILITY, HIRE AND MANAGE SCHOOL PERSONNEL · NC · 51.99% owned · general or managing partner
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 7 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511329349305906
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