Triangle Charter Education Association Inc
- Assets
- $23.8m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Cary, NC
- Founding
- 02/2015
- Data as of
- 06/2021
- EIN
- 90-1031905
Organization Overview
Triangle Charter Education Association Inc is located in Cary, NC. The organization was established in 2015. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Triangle Charter Education Association 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 06/2021, Triangle Charter Education Association Inc generated $15.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $15.5m during the year ending 06/2021. While expenses have increased by 12.6% 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
THE TRIANGLE CHARTER EDUCATIONAL ASSOCIATION IS A NORTH CAROLINA NOT-FOR-PROFIT ENTITY ORGANIZED EXCLUSIVELY FOR EDUCATIONAL PURPOSES AND IS COMPRISED OF RESPECTED LEADERS IN THE STATE OF NORTH CAROLINA THAT ARE COMMITTED TO PROVIDING HIGH QUALITY EDUCATIONAL OPTIONS FOR THE CITIZENS OF THE STATE. THE ASSOCIATION GOVERNS CARDINAL CHARTER ACADEMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARDINAL CHARTER ACADEMY: IS A TUITION-FREE PUBLIC CHARTER SCHOOL EDUCATING STUDENTS IN GRADES K-8 WHO RESIDE IN NORTH CAROLINA. THE SCHOOL CURRENTLY PROVIDES EDUCATION TO STUDENTS FROM KINDERGARTEN THROUGH EIGHTH GRADE. THE ACADEMY'S MISSION IS TO BUILD A STUDENT-CENTERED LEARNING ENVIRONMENT THAT IS PROJECT-BASED AND TECHNOLOGY-DRIVEN IN WHICH STUDENTS CAN REACH THEIR ACADEMIC POTENTIAL. WE VALUE ACADEMIC SUCCESS THROUGH THE USE OF DATA TO MEET INDIVIDUAL DIVERSE STUDENT NEEDS. CARDINAL CHARTER ACADEMY WILL FOSTER A CULTURE OF INNOVATION AND INQUIRY USING TECHNOLOGY AS THE MEDIUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Candi Hughes Treasurer | OfficerTrustee | 2 | $0 |
Alex Krawchick Vice President | OfficerTrustee | 2 | $0 |
Megan Christie Secretary | OfficerTrustee | 2 | $0 |
E Allen Taylor Jr President | OfficerTrustee | 2 | $0 |
Elaine Shamel Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Charter Schools Usa Management | 6/29/19 | $1,989,496 |
Kerr Connect Llc Educational Therapy | 6/29/19 | $170,776 |
Preferred Meal Systems Inc Food Service | 6/29/19 | $133,084 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $14,852,765 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,484 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,894,249 |
| Total Program Service Revenue | $254,470 |
| 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 | $15,148,719 |
| 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 | $6,031,520 |
| Pension plan accruals and contributions | $19,624 |
| Other employee benefits | $1,105,767 |
| Payroll taxes | $416,772 |
| Fees for services: Management | $614,765 |
| Fees for services: Legal | $54,018 |
| Fees for services: Accounting | $299,294 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $878,487 |
| Advertising and promotion | $95,162 |
| Office expenses | $18,075 |
| Information technology | $178,119 |
| Royalties | $0 |
| Occupancy | $312,392 |
| Travel | $23,743 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,525,302 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,273,453 |
| Insurance | $11,078 |
| All other expenses | $409,019 |
| Total functional expenses | $15,468,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,027,715 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $37,095 |
| Accounts receivable, net | $6,831 |
| 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 | $8,913 |
| Net Land, buildings, and equipment | $21,671,908 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,422 |
| Total assets | $23,775,884 |
| Accounts payable and accrued expenses | $928,637 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,290,160 |
| Total liabilities | $27,218,797 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $278,725 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$3,721,638 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,775,884 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Triangle Charter Education Association Inc has recieved totaling $642.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $642 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Drew Charter School Inc Atlanta, GA | $34,692,137 | $41,952,542 |
North Carolina Charter Educational Foundation Inc Mooresville, NC | $93,431,533 | $35,029,413 |
Lead Public Schools Inc Nashville, TN | $24,033,254 | $42,742,487 |
Kipp Nashville Nashville, TN | $80,824,528 | $47,985,945 |
Georgia Connections Academy Charter School Inc Duluth, GA | $22,514,475 | $38,349,918 |
Kindezi School Inc Atlanta, GA | $19,750,427 | $21,363,051 |
Kipp Enc Public Schools Gaston, NC | $35,993,575 | $43,410,261 |
Gestalt Community Schools Memphis, TN | $46,137,229 | $27,266,737 |
Foothills Education Center Inc Athens, GA | $29,237,884 | $30,776,964 |
Kipp Memphis Inc Memphis, TN | $24,468,081 | $25,479,805 |
Valor Collegiate Academies Nashville, TN | $48,008,126 | $29,376,935 |
Triad Math And Science Academy Company Greensboro, NC | $12,436,639 | $25,994,464 |