The Carolina Academy
- Assets
- $2.6m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 69
- Location
- Lake City, SC
- Founding
- 03/1976
- Data as of
- 06/2021
- EIN
- 57-6036661
Organization Overview
The Carolina Academy is located in Lake City, SC. The organization was established in 1976. 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 06/2021, Carolina Academy employed 69 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina 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 06/2021, Carolina Academy generated $2.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $1.7m during the year ending 06/2021. While expenses have increased by 5.4% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION - GRADES 3K THROUGH 12TH GRADE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING EDUCATIONAL SERVICES FOR GRADES 3 YEAR OLD KINDERGARTEN THROUGH 12TH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William D Mcdaniel Board Member | OfficerTrustee | $0 | |
Anna Franks Board Member | OfficerTrustee | $0 | |
Jeanette Altman Board Member | Trustee | $0 | |
Davie Coker Board Member | Trustee | $0 | |
Tommy Evans Board Member | Trustee | $0 | |
Neil Cox Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $609,036 |
| All other contributions, gifts, grants, and similar amounts not included above | $154,000 |
| Noncash contributions included in lines 1a–1f | $154,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $763,036 |
| Total Program Service Revenue | $1,576,751 |
| Investment income | $2,137 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,155 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,352,654 |
| 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 | $1,018,258 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $78,815 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,933 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,185 |
| Advertising and promotion | $15,231 |
| Office expenses | $51,563 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $269,170 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,252 |
| Insurance | $59,325 |
| All other expenses | $0 |
| Total functional expenses | $1,689,603 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,580,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $977,452 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,557,452 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $29,582 |
| 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 | $14,926 |
| Total liabilities | $44,508 |
| Net assets without donor restrictions | $2,512,944 |
| 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 | $2,557,452 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Carolina Academy has recieved totaling $499,038.
| Awarding Organization | Amount |
|---|---|
Darla Moore And Richard Rainwater Foundation Lake City, SC PURPOSE: TEACHER AWARD | $399,038 |
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Hammond School Columbia, SC | $54,753,815 | $20,190,119 |
Carolina Day School Inc Asheville, NC | $29,412,889 | $19,874,947 |
Summit School Inc Winstonsalem, NC | $46,496,346 | $18,682,492 |
North Cobb Christian School Inc Kennesaw, GA | $44,288,708 | $22,180,039 |
Piedmont Community Charter School Gastonia, NC | $39,263,540 | $16,321,598 |
Franklin Academy Inc Wake Forest, NC | $23,533,490 | $17,154,874 |
Rabbi Harry H Epstein School Inc Sandy Springs, GA | $8,141,821 | $15,062,509 |
The Alfred And Adele Davis Academy Inc Atlanta, GA | $60,440,379 | $18,707,941 |
Stratford Academy Inc Macon, GA | $32,525,377 | $15,089,989 |
Spartanburg Day School Spartanburg, SC | $65,939,773 | $27,162,424 |
Duke School Durham, NC | $22,928,482 | $11,500,577 |