Arendell Parrott Academy Inc
- Assets
- $17.3m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 182
- Location
- Kinston, NC
- Founding
- 11/1964
- Data as of
- 06/2024
- EIN
- 56-6065129
Organization Overview
Arendell Parrott Academy Inc is located in Kinston, NC. The organization was established in 1964. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2024, Arendell Parrott Academy Inc employed 182 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arendell Parrott 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, Arendell Parrott Academy Inc generated $9.7m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $9.7m during the year ending 06/2024. 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 AN ACCREDITED SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE SCHOOL PROVIDING COLLEGE PREPARATORY CURRICULUM FOR GRADES K-12 SERVING APPROXIMATELY 730 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Moody Head Of Scho | Officer | 40 | $159,975 |
Ellen Chance Trustee | Trustee | 1 | $0 |
Jody Cheek Trustee | Trustee | 1 | $0 |
Rus Clark Trustee | Trustee | 1 | $0 |
Kate Daniels Trustee | Trustee | 1 | $0 |
Loren Edwards Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fasco Inc Construction | 6/29/24 | $377,209 |
Eastern Ground Works Llc Maintenance | 6/29/24 | $291,405 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,132 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $85,132 |
| Total Program Service Revenue | $9,191,255 |
| Investment income | $184,566 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $61,825 |
| Net Income from Fundraising Events | $120,575 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,720,067 |
| 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 | $5,015,192 |
| Pension plan accruals and contributions | $174,821 |
| Other employee benefits | $566,759 |
| Payroll taxes | $360,183 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,577 |
| Fees for services: Accounting | $41,344 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,693 |
| Office expenses | $0 |
| Information technology | $90,210 |
| Royalties | $0 |
| Occupancy | $188,076 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,491 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $503,473 |
| Insurance | $141,777 |
| All other expenses | $575,293 |
| Total functional expenses | $9,706,742 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $629 |
| Savings and temporary cash investments | $1,810,268 |
| Pledges and grants receivable | $7,500 |
| Accounts receivable, net | $51,769 |
| 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 | $6,230 |
| Net Land, buildings, and equipment | $9,717,881 |
| Investments—publicly traded securities | $5,377,360 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $328,716 |
| Total assets | $17,300,353 |
| Accounts payable and accrued expenses | $1,071,562 |
| Grants payable | $0 |
| Deferred revenue | $356,274 |
| 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 | $184,327 |
| Total liabilities | $1,612,163 |
| Net assets without donor restrictions | $12,722,359 |
| Net assets with donor restrictions | $2,965,831 |
| 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 | $17,300,353 |