Corolla Education Foundation
- Assets
- $637.9k
- Revenue
- $539.8k
- Investments
- $0.0
- Employees
- 7
- Location
- Corolla, NC
- Founding
- 08/2011
- Data as of
- 06/2021
- EIN
- 27-5002997
Organization Overview
Corolla Education Foundation, operating under the name Water's Edge Village School, is located in Corolla, NC. The organization was established in 2011. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2021, Water's Edge Village School employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Water's Edge Village School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Water's Edge Village School generated $539.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $473.2k during the year ending 06/2021. While expenses have increased by 11.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A PUBLIC CHARTER SCHOOL TO PROMOTE EDUCATIONAL OPPORTUNITIES IN A REMOTE AREA
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A PUBLIC CHARTER SCHOOL TO PROMOTE EDUCATIONAL OPPORTUNITIES IN A REMOTE AREA
OPERATION OF A PUBLIC CHARTER SCHOOL TO PROMOTE EDUCATIONAL OPPORTUNITIES IN A REMOTE AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meghan Agresto President | OfficerTrustee | 20 | $0 |
Bryan Daggett Treasurer | OfficerTrustee | 15 | $0 |
Al Marzetti Vice Preside | OfficerTrustee | 5 | $0 |
Allison Broughton Secretary | OfficerTrustee | 5 | $0 |
Gerrilea Adams Member | Trustee | 3 | $0 |
Susan Taylor Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $533,556 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $539,784 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $321,069 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,342 |
| Payroll taxes | $0 |
| Fees for services: Management | $17,259 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,845 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $10,613 |
| Royalties | $0 |
| Occupancy | $26,159 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $525 |
| Insurance | $6,159 |
| All other expenses | $0 |
| Total functional expenses | $473,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $279,211 |
| Savings and temporary cash investments | $343,384 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,785 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,117 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $637,934 |
| Accounts payable and accrued expenses | $908 |
| Grants payable | $0 |
| Deferred revenue | $500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,408 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $636,526 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Corolla Education Foundation has recieved totaling $25,050.
| Awarding Organization | Amount |
|---|---|
W Buford Lewis And Linda M Lewis Family Foundation Alexandria, VA PURPOSE: FURTHERANCE OF CHARITABLE PURPOSES | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $5,050 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Graduate Management Admission Council Reston, VA | $230,212,828 | $77,127,681 |
Common Application Inc Arlington, VA | $52,971,416 | $52,316,500 |
Longwood University Real Estate Foundation Farmville, VA | $322,438,396 | $31,911,007 |
Duke Corporate Education Durham, NC | $27,489,390 | $18,675,614 |
University Of North Georgia Foundation Inc Dahlonega, GA | $101,168,345 | $9,379,486 |
Cape Fear Tutoring Inc Wilmington, NC | $2,173,027 | $16,040,654 |
Southern Assoc Of Colleges And Schools Commission On Colleges Inc Decatur, GA | $21,107,199 | $13,477,936 |
National Association For College Admission Counseling Inc Arlington, VA | $22,607,858 | $9,863,408 |
Memphis Education Fund Inc Memphis, TN | $2,536,598 | $5,955,711 |
The Cottage School Educational Resource Center Inc Roswell, GA | $19,413,651 | $9,463,796 |
Pencil Foundation Nashville, TN | $3,991,693 | $7,143,023 |
Edreports Org Inc Durham, NC | $5,799,627 | $6,182,160 |