Alpha Academy Inc is located in Fayetteville, NC. The organization was established in 2001. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2024, Alpha Academy Inc employed 147 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alpha Academy Inc 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 06/2024, Alpha Academy Inc generated $12.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $11.2m during the year ending 06/2024. While expenses have increased by 11.2% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A PUBLIC CHARTER SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED A PUBLIC CHARTER SCHOOL IN FAYETTEVILLE, NC SERVING APPROXIMATELY 948 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2024.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Simon Johnson Chair | OfficerTrustee | 2 | $0 |
Connie Sanchez Member | Trustee | 2 | $0 |
Barbara Batts Treasurer | OfficerTrustee | 2 | $0 |
Alvin Breeden Member | Trustee | 1 | $0 |
Nadine Clipper Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $2,591,223 |
All other contributions, gifts, grants, and similar amounts not included above | $5,207 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,596,430 |
Total Program Service Revenue | $10,247,820 |
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 | $12,844,250 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,570,020 |
Pension plan accruals and contributions | $61,064 |
Other employee benefits | $435,350 |
Payroll taxes | $440,438 |
Fees for services: Management | $0 |
Fees for services: Legal | $97,365 |
Fees for services: Accounting | $7,950 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $8,164 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $716,058 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $367,571 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $833,189 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $11,183,132 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $7,297,781 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $98,280 |
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 | $0 |
Net Land, buildings, and equipment | $15,848,552 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $23,244,613 |
Accounts payable and accrued expenses | $23,054 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $9,058,773 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $9,081,827 |
Net assets without donor restrictions | $14,162,786 |
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 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $23,244,613 |