Pinnacle Classical Academy
- Assets
- $24.2m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 159
- Location
- Shelby, NC
- Founding
- 03/2014
- Data as of
- 06/2022
- EIN
- 46-1982572
Organization Overview
Pinnacle Classical Academy is located in Shelby, NC. The organization was established in 2014. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Pinnacle Classical Academy employed 159 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pinnacle Classical Academy 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 06/2022, Pinnacle Classical Academy generated $11.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $9.1m during the year ending 06/2022. While expenses have increased by 18.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A PUBLIC CHARTER SCHOOL FOR THE EDUCATION OF CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FACILITIES, TEACHERS, MATERIALS AND INSTRUCTION TO ENROLLED STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelly Bullard Headmaster | OfficerTrustee | 40 | $102,310 |
Wendy Clary Elementary Principal | Officer | 40 | $74,500 |
Angela Brooks Secondary Principal | Officer | 40 | $65,485 |
Donna Mabry Finance Manager | OfficerTrustee | 40 | $62,076 |
T G Westmoreland Vice Chair | OfficerTrustee | 5 | $0 |
Debbie Clary Chair | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,896,146 |
| All other contributions, gifts, grants, and similar amounts not included above | $67,892 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,964,038 |
| Total Program Service Revenue | $0 |
| 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 | $11,125,515 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $304,371 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,844,386 |
| Pension plan accruals and contributions | $930,192 |
| Other employee benefits | $585,304 |
| Payroll taxes | $336,007 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,691 |
| Office expenses | $140,496 |
| Information technology | $71,225 |
| Royalties | $0 |
| Occupancy | $89,111 |
| Travel | $8,456 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,050 |
| Interest | $457,235 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $597,034 |
| Insurance | $51,578 |
| All other expenses | $96,600 |
| Total functional expenses | $9,106,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,440,282 |
| Savings and temporary cash investments | $296,065 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $150,430 |
| 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 | $8,561 |
| Net Land, buildings, and equipment | $14,596,312 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,727,200 |
| Total assets | $24,218,850 |
| Accounts payable and accrued expenses | $613,178 |
| Grants payable | $0 |
| Deferred revenue | $99,367 |
| 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 | $24,123,042 |
| Total liabilities | $24,835,587 |
| Net assets without donor restrictions | -$2,870,725 |
| Net assets with donor restrictions | $2,253,988 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $24,218,850 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Pinnacle Classical Academy has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: PROGRAM NEEDS | | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
James Island Charter High School Charleston, SC | $22,889,433 | $20,877,381 |
Legacy Early College Greenville, SC | $11,865,335 | $23,115,805 |
Pine Lake Preparatory Inc Mooresville, NC | $43,880,592 | $18,139,159 |
Memphis Business Academy Memphis, TN | $29,884,603 | $21,343,740 |
Uwharrie Green School Inc Asheboro, NC | $37,750,042 | $15,359,750 |
Bradford Preparatory School Charlotte, NC | $43,531,972 | $16,692,910 |
Triangle Charter Education Association Inc Cary, NC | $23,775,884 | $15,148,719 |
Invest Collegiate Imagine Inc Asheville, NC | $38,770,080 | $14,359,175 |
Henderson Collegiate Henderson, NC | $34,215,458 | $16,220,503 |
Coastal Plains Education Center Inc Metter, GA | $21,944,449 | $17,839,473 |
Mountain Island Charter School Inc Mount Holly, NC | $10,307,817 | $15,645,892 |
High Point Academy Inc Spartanburg, SC | $32,871,458 | $16,108,414 |