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Nonprofiteer
← NORTH CAROLINA FOR QUALITY VIRTUAL EDUCATION

Form 990 for tax year 2022

Filed by NORTH CAROLINA FOR QUALITY VIRTUAL EDUCATION.

Totals

Total revenue
$25,084,236
Total expenses
$26,800,485
Contributions and grants received
$25,084,236
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,924,206
Total liabilities, end of year
$1,865,304
Net assets or fund balances, end of year
$2,058,902
Program services expenses (Part IX)
$23,769,839
Management and general expenses
$3,030,646
Fundraising expenses
$0
Program service expenses (Part III)
$23,769,839

Program services were 88.7% 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)

    $24,311,345

  • 1f · All other contributions, gifts and grants

    $772,891

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $1,221,000 · program services $580,132 · management and general $640,868

  • 7 · Other salaries and wages

    total $10,568,422 · program services $10,105,079 · management and general $463,343

  • 8 · Pension plan contributions

    total $888,048 · program services $806,592 · management and general $81,456

  • 9 · Other employee benefits

    total $1,540,469 · program services $1,463,670 · management and general $76,799

  • 10 · Payroll taxes

    total $860,098 · program services $780,052 · management and general $80,046

  • 11g · Fees: other

    total $477,689 · program services $95,611 · management and general $382,078

  • 12 · Advertising and promotion

    total $301,938 · management and general $301,938

  • 13 · Office expenses

    total $824,013 · program services $790,165 · management and general $33,848

  • 14 · Information technology

    total $15,868 · program services $3,996 · management and general $11,872

  • 16 · Occupancy

    total $376,942 · program services $375,708 · management and general $1,234

  • 22 · Depreciation, depletion and amortization

    total $320,358 · program services $320,358

  • 23 · Insurance

    total $88,408 · management and general $88,408

  • 24a · Other expenses: OTHER EXPENSES

    total $9,317,232 · program services $8,448,476 · management and general $868,756

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,411,199 · end of year $1,757,016

  • 3 · Pledges and grants receivable

    beginning of year $1,017,582 · end of year $559,993

  • 4 · Accounts receivable

    beginning of year $4,606 · end of year $10,831

  • 9 · Prepaid expenses and deferred charges

    beginning of year $500,670 · end of year $263,017

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

    $1,816,917

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

    $1,442,533

  • 10c · Land, buildings and equipment, net

    beginning of year $694,740 · end of year $374,384

  • 14 · Intangible assets

    end of year $958,965

  • 17 · Accounts payable and accrued expenses

    beginning of year $725,816 · end of year $804,027

  • 24 · Unsecured notes and loans payable

    beginning of year $40,981 · end of year $1,061,277

  • 27 · Net assets without donor restrictions

    beginning of year $3,862,000 · end of year $2,058,902

Mission and programs · 2022

Mission

TO EMPOWER CHILDREN WITH KNOWLEDGE, SKILLS, AND CHARACTER TRAITS TO BE SUCCESSFUL IN THEIR EDUCATION THROUGH AN ENGAGING, PERSONALIZED LEARNING EXPERIENCE IN A FULL-TIME VIRTUAL SCHOOL.

  • NORTH CAROLINA CYBER ACADEMY IS A PUBLIC SCHOOL OPERATED BY A NON- PROFIT CORPORATION, SERVING APPROXIMATELY 2,565 STUDENTS.

    Expenses $23,134,046

  • NORTH CAROLINA CYBER ACADEMY IS A PUBLIC SCHOOL OPERATED BY A NON- PROFIT CORPORATION, SERVING APPROXIMATELY 2,565 STUDENTS.

    Expenses $635,793

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jamie Hill

    SUPERINTENDE

    Total calculated
    $195,695
    From this org
    $170,799
    From related orgs
    $0
    Other
    $24,896
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,799
    Bonus
    not reported
    Other
    not reported
    Deferred
    $24,896
    Nontaxable benefits
    not reported
    Filer's total
    $195,695

  • Jill Hammegren

    PRESIDENT

    Total calculated
    $0

  • Angela Howard

    SECRETARY

    Total calculated
    $0

  • Julie Marks

    BOARD MEMBER

    Total calculated
    $0

  • Audrey Martin-McCoy

    VICE PRESIDE

    Total calculated
    $0

  • Dee Ray

    BOARD MEMBER

    Total calculated
    $0

  • Debora Williams

    TREASURER

    Total calculated
    $0

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.

Provenance

Return type
form_990
Tax year
2022
Filed
16 April 2023
IRS schema version
2022v5.0
Source object
202401139349300825

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