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Nonprofiteer
← FLETCHER ACADEMY INC

Form 990 for tax year 2024

Filed by FLETCHER ACADEMY INC.

Totals

Total revenue
$12,604,034
Total expenses
$11,956,386
Contributions and grants received
$2,254,554
Grants paid
$540,264
Program service revenue
$10,058,794
Investment income
$21,886
Other revenue
$268,800
Total assets, end of year
$20,810,748
Total liabilities, end of year
$17,039,737
Net assets or fund balances, end of year
$3,771,011
Program services expenses (Part IX)
$9,155,576
Management and general expenses
$2,308,044
Fundraising expenses
$492,766
Program service expenses (Part III)
$9,155,576

Program services were 76.6% 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.

  • 1f · All other contributions, gifts and grants

    $2,254,554

  • 2a · Program service revenue: TUITION AND FEES

    total $3,846,141 · related or exempt $3,846,141

  • 2b · Program service revenue: FLETCHER PARK INN

    total $3,552,749 · related or exempt $3,552,749

  • 2c · Program service revenue: OTHER PROGRAM FEES

    total $1,042,071 · related or exempt $1,042,071

  • 2d · Program service revenue: ACADEMIC SUPPORT PROGR

    total $888,169 · related or exempt $888,169

  • 2e · Program service revenue: LELIA PATTERSON CENTER

    total $729,664 · related or exempt $729,664

  • 3 · Investment income

    total $19,686 · excluded $19,686

  • 6a · Gross rents

    real property $214,265

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $214,265

  • 6d · Net rental income or loss

    total $214,265 · excluded $214,265

  • 7a · Gross sales of assets other than inventory

    other assets $2,200

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

    other assets $0

  • 7c · Gain or loss

    other assets $2,200

  • 7d · Net gain or loss

    total $2,200 · excluded $2,200

  • 8a · Fundraising events: gross income

    $36,634

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $36,634 · excluded $36,634

  • 11a · Other revenue: OTHER INCOME

    total $17,901 · related or exempt $17,901

  • 11e · Other revenue, total

    $17,901

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $540,264 · program services $540,264

  • 5 · Compensation of officers, directors and key employees

    total $354,111 · management and general $354,111

  • 7 · Other salaries and wages

    total $4,136,155 · program services $3,156,644 · management and general $817,280 · fundraising $162,231

  • 8 · Pension plan contributions

    total $194,158 · program services $109,927 · management and general $78,346 · fundraising $5,885

  • 9 · Other employee benefits

    total $959,748 · program services $654,247 · management and general $222,132 · fundraising $83,369

  • 10 · Payroll taxes

    total $327,657 · program services $215,058 · management and general $101,660 · fundraising $10,939

  • 11c · Fees: accounting

    total $45,500 · management and general $45,500

  • 11g · Fees: other

    total $509,344 · program services $376,907 · management and general $126,967 · fundraising $5,470

  • 12 · Advertising and promotion

    total $45,615 · program services $34,670 · management and general $10,945

  • 13 · Office expenses

    total $95,082 · program services $69,198 · management and general $2,114 · fundraising $23,770

  • 14 · Information technology

    total $233,923 · program services $170,022 · management and general $62,821 · fundraising $1,080

  • 16 · Occupancy

    total $1,525,768 · program services $1,488,982 · management and general $35,466 · fundraising $1,320

  • 17 · Travel

    total $2,753 · program services $2,042 · fundraising $711

  • 22 · Depreciation, depletion and amortization

    total $1,171,985 · program services $1,050,390 · management and general $121,595

  • 23 · Insurance

    total $224,978 · program services $27,945 · management and general $196,547 · fundraising $486

  • 24a · Other expenses: MEALS & ENTERTAINMENT

    total $463,866 · program services $461,865 · management and general $1,866 · fundraising $135

  • 24b · Other expenses: EQUIPMENT REPAIRS AND M

    total $461,639 · program services $366,932 · management and general $94,707

  • 24c · Other expenses: PROGRAM EXPENSES

    total $365,632 · program services $287,760 · fundraising $77,872

  • 24d · Other expenses: MISCELLANEOUS

    total $152,637 · program services $121,146 · management and general $12,293 · fundraising $19,198

  • 24e · All other expenses

    total $145,571 · program services $21,577 · management and general $23,694 · fundraising $100,300

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $836,379 · end of year $1,139,528

  • 2 · Savings and temporary cash investments

    beginning of year $2,016,367 · end of year $2,659,592

  • 3 · Pledges and grants receivable

    beginning of year $100,000 · end of year $0

  • 4 · Accounts receivable

    beginning of year $71,450 · end of year $114,825

  • 9 · Prepaid expenses and deferred charges

    beginning of year $52,662 · end of year $55,940

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

    $39,462,920

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

    $25,057,030

  • 10c · Land, buildings and equipment, net

    beginning of year $14,134,750 · end of year $14,405,890

  • 11 · Investments: publicly traded securities

    beginning of year $1,883,693 · end of year $2,089,285

  • 15 · Other assets

    beginning of year $337,867 · end of year $345,688

  • 17 · Accounts payable and accrued expenses

    beginning of year $539,962 · end of year $594,126

  • 19 · Deferred revenue

    beginning of year $79,829 · end of year $155,073

  • 23 · Secured mortgages and notes payable

    beginning of year $117,180 · end of year $74,255

  • 25 · Other liabilities

    beginning of year $15,758,251 · end of year $16,216,283

  • 27 · Net assets without donor restrictions

    beginning of year -$237,328 · end of year -$412,951

  • 28 · Net assets with donor restrictions

    beginning of year $3,175,274 · end of year $4,183,962

Mission and programs · 2024

Mission

FLETCHER ACADEMY, AN INDEPENDENT COLLEGE PREPARATORY HIGH SCHOOL FOUNDED IN 1910, EXISTS TO PROVIDE A DISTINCTLY SEVENTH-DAY ADVENTIST EDUCATION WHERE SPIRITUAL DEVELOPMENT IS BOLSTERED WITH ACADEMIC RIGOR, WORK SKILLS, AND CHARACTER DEVELOPMENT THAT CHALLENGES OUR STUDENTS.

Activities or mission (Part I)

FLETCHER ACADEMY OPERATES A DISTINCTLY SEVENTH-DAY ADVENTIST SCHOOL, A RETIREMENT COMMUNITY, AND A FITNESS CENTER FOR THE COMMUNITY, RETIREMENT RESIDENTS, AND FOR THE ACADEMY.

  • FLETCHER ACADEMY AN INDEPENDENT COLLEGE PREPARATORY HIGH SCHOOL, WHICH PROVIDES A DISTINCTLY SEVENTHDAY ADVENTIST EDUCATION WHERE SPIRITUAL DEVELOPMENT IS BOLSTERED WITH ACADEMIC RIGOR, WORK SKILLS, AND CHARACTER DEVELOPMENT. FLETCHER ACADEMY IS A HIGH SCHOOL LOCATED IN HENDERSON COUNTY, NORTH CAROLINA, AND IS OPEN TO STUDENTS WORLDWIDE. IT IS FUNDED PRIMARILY BY TUITION AND CONTRIBUTIONS. CAPTAIN GILMER CHRISTIAN SCHOOL IS AN ELEMENTARY PROGRAM PROVIDING YOUNG PEOPLE AN OPPORTUNITY TO RECEIVE AN EXCELLENT EDUCATION IN A CHRISTIAN ENVIROMENT. IT SERVICES STUDENTS FROM KINDERGARTEN THROUGH THE EIGHTH GRADE.

    Expenses $5,352,476 · Grants $540,264 · Revenue $4,734,310

  • FLETCHER PARK INN THE RETIREMENT COMMUNITY KNOWN AS FLETCHER PARK INN, ALSO LOCATED IN HENDERSON COUNTY, IS OPEN TO INDIVIDUALS WHO DESIRE RETIREMENT LIVING IN A LIFESTYLE THAT IS OFFERED ON THE FLETCHER ACADEMY CAMPUS. FLETCHER PARK INN ALSO PROVIDES AN EDUCATIONALOPPORTUNITY IN THE SERVICE FOR THE YOUNG PEOPLE OF THE ORGANIZATION. THE INN SEEKS TO PROVIDE COMFORTABLE SURROUNDINGS AT A REASONABLE COST FOR RESIDENTS TO ENJOY LIFE OF COMPANIONSHIP AND SERVICE.

    Expenses $2,355,296 · Revenue $3,552,749

  • LELIA PATTERSON CENTER THE ACTIVITY CENTER KNOWN AS LELIA PATTERSON CENTER IN OPEN TO INDIVIDUALS AND THEIR FAMILIES TO PURSUE A HEALTHY LIFESTYLE THROUGH EXERCISE, HEALTH EDUCATION, RECREATION, AND SOCIAL ACTIVITIES IN A CHRISTIAN ATMOSPHERE.

    Expenses $784,873 · Revenue $729,664

  • RENTAL & OTHER OPERATIONS

    Expenses $662,931 · Revenue $1,059,972

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CHRIS CAREY

    CEO/PRESIDENT

    Total calculated
    $147,964
    From this org
    $118,141
    From related orgs
    $0
    Other
    $29,823
    Hours/week
    40

  • JONATHAN KENDRICK

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SHELLY ANCHETA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GEORGE PENDLETON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • STAURT YOON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BILL MOORE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JULIE TULLOCK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MILTON CONLEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KIRK BURGIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TRISTAN HAMILTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TIMOTHY NOVAK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER ZINKE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JONATHAN FRITZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JEFF HARPER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT NUNNALEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN LEARNED

    CHIEF FINANCIAL OFFICER/TREASURER

    Total calculated
    $110,033
    From this org
    $76,044
    From related orgs
    $0
    Other
    $33,989
    Hours/week
    40

  • PHILIP D WILHELM

    CHIEF ACADEMIC OFFICER/FA PRINCIPAL

    Total calculated
    $126,274
    From this org
    $88,403
    From related orgs
    $0
    Other
    $37,871
    Hours/week
    40

  • ARTHUR L GIBBS

    CHIEF ADVANCEMENT OFFICER/CORP. SEC.

    Total calculated
    $95,845
    From this org
    $71,524
    From related orgs
    $0
    Other
    $24,321
    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

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.

  • FAI HOLDINGS LLC

    HOLDING COMPANY · NC · income $0 · assets $0

    Directly controlled by FLETCHER ACADEMY INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • FLETCHER ACADEMY ENTERPRISES INC

    C · CONSTRUCTION COMPANY · NC · 100% owned · share of income $1,913 · share of assets $87,839 · controlled entity

    Directly controlled by FLETCHER ACADEMY INC

Provenance

Return type
form_990
Tax year
2024
Filed
7 May 2026
IRS schema version
2024v5.5
Source object
202601289349302200

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