Carolina Charter Academy

Nonprofit profile at a glance

EIN
821704078
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Angier, NC, USA
Phone
9843003015
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$9,914,250
Expenses
$9,283,232
Assets
$23,443,080
Liabilities
$19,968,083

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Seth Warren (Executive Director)

People named in this filing

  • Kimberly Potter (Treasurer)
  • Lee Hopkins (Board Member)
  • Dan Gibson (Board Chair)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Operation of a public charter school.

What it reported doing in 2024

Operated a public charter school in Wake County, NC, serving approximately 777 students for the fiscal year ended June 30, 2025.

Operating model

Revenue model
Earned-program. 83% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56%; rating input score 56
  • Program expense ratio: 59.8%; rating input score 60
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.4%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 2.53; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.85; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 14.8% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 19.7% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 11.2% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 56% of revenue deployed · 59.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5.6M in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.