Gray Stone Educational Foundation Inc
- Assets
- $16.8m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 89
- Location
- Misenheimer, NC
- Founding
- 12/2002
- Data as of
- 06/2022
- EIN
- 56-2211005
Organization Overview
Gray Stone Educational Foundation Inc is located in Misenheimer, NC. The organization was established in 2002. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Gray Stone Educational Foundation Inc employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gray Stone Educational Foundation 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 06/2022, Gray Stone Educational Foundation Inc generated $7.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $6.5m during the year ending 06/2022. While expenses have increased by 10.5% 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 CHARTER SCHOOL IN NORTH CAROLINA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FACILITIES, TEACHERS, AND MATERIALS TO STUDENTS ENROLLED AT A PUBLIC CHARTER SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Helen Nance Director | Trustee | 40 | $123,900 |
Stephen Chambers Chairman Of The Board | OfficerTrustee | 5 | $0 |
Charles Parnell Board Member | Trustee | 5 | $0 |
Ron Garrow Board Member | Trustee | 5 | $0 |
Andrew Burleson Board Member | Trustee | 5 | $0 |
Jim Hillier Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,310,470 |
| All other contributions, gifts, grants, and similar amounts not included above | $180,990 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,491,460 |
| Total Program Service Revenue | $0 |
| Investment income | $1,867 |
| 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 | $7,493,327 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $320,239 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,503,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,634,411 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $32,125 |
| Accounts receivable, net | $80,270 |
| 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 | $10,788,044 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,219,221 |
| Total assets | $16,754,071 |
| Accounts payable and accrued expenses | $99,507 |
| 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 | $4,213,803 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,239,278 |
| Total liabilities | $14,552,588 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,038 |
| Paid-in or capital surplus, or land, building, or equipment fund | $6,574,241 |
| Retained earnings, endowment, accumulated income, or other funds | -$4,375,796 |
| Total liabilities and net assets/fund balances | $16,754,071 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Gray Stone Educational Foundation Inc has recieved totaling $21,338.
| Awarding Organization | Amount |
|---|---|
The Nra Foundation Inc Fairfax, VA PURPOSE: Competitive Shooting | $15,829 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,117 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $369 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $23 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christ School Inc Arden, NC | $45,623,697 | $22,399,762 |
Southside Christian School Upstate Simpsonville, SC | $26,226,649 | $22,389,092 |
Foxcroft School Middleburg, VA | $142,226,453 | $10,560,576 |
St Davids School Raleigh, NC | $32,628,531 | $17,520,873 |
Randolph Macon Academy Front Royal, VA | $36,335,018 | $14,186,434 |
Webb School Bell Buckle, TN | $70,401,090 | $18,551,010 |
Chatham Hall Chatham, VA | $93,224,098 | $20,472,226 |
American Hebrew Academy Inc Greensboro, NC | $66,328,577 | $16,098,225 |
Atlanta Jewish Academy Inc Atlanta, GA | $22,350,554 | $15,415,216 |
University School Of Jackson Jackson, TN | $24,986,142 | $15,584,581 |
Covenant School Inc Charlottesville, VA | $15,174,409 | $14,464,891 |
The Felicia Penzell Weber Jewish Community High School Inc Atlanta, GA | $43,433,763 | $21,423,275 |