Cape Fear Academy Inc
- Assets
- $47.7m
- Revenue
- $19.4m
- Investments
- $0.0
- Employees
- 272
- Location
- Wilmington, NC
- Founding
- 08/1966
- Data as of
- 06/2024
- EIN
- 56-6075566
Organization Overview
Cape Fear Academy Inc is located in Wilmington, NC. The organization was established in 1966. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2024, Cape Fear Academy Inc employed 272 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cape Fear 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, Cape Fear Academy Inc generated $19.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $17.5m during the year ending 06/2024. While expenses have increased by 5.4% 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
TO OPERATE A PRIVATE SCHOOL FOR GRADES PK - 12 IN WILMINGTON, NC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FISCAL 2023/2024 OPERATED A PRIVATE SCHOOL FOR PRE-KINDERGARTEN THROUGH GRADE 12 LOCATED IN WILMINGTON, NC FOR 772 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Connor Keller Chair | OfficerTrustee | 4 | $0 |
Chris Fikry Vice Chair | OfficerTrustee | 4 | $0 |
Jason Dahl Treasurer | OfficerTrustee | 4 | $0 |
Elizabeth Wells Secretary | OfficerTrustee | 4 | $0 |
Matt Scharf Director | Trustee | 4 | $0 |
Kelly Burnette Director | Trustee | 4 | $0 |
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 | $1,568,849 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,568,849 |
| Total Program Service Revenue | $17,419,185 |
| Investment income | $432,310 |
| 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 | $19,420,344 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,883,505 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $549,018 |
| Compensation of current officers, directors, key employees. | $370,682 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,072,902 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $909,298 |
| Payroll taxes | $635,759 |
| 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 | $454,449 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,221,305 |
| Insurance | $0 |
| All other expenses | $162,756 |
| Total functional expenses | $17,535,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,124 |
| Savings and temporary cash investments | $14,656,055 |
| Pledges and grants receivable | $387,628 |
| Accounts receivable, net | $7,601,038 |
| 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 | $212,195 |
| Net Land, buildings, and equipment | $18,970,245 |
| Investments—publicly traded securities | $5,591,254 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $160,961 |
| Total assets | $47,687,500 |
| Accounts payable and accrued expenses | $849,263 |
| Grants payable | $0 |
| Deferred revenue | $16,177,987 |
| 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 | $9,029,026 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $26,056,276 |
| Net assets without donor restrictions | $17,620,430 |
| Net assets with donor restrictions | $4,010,794 |
| 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 | $47,687,500 |