Fayetteville Academy

Nonprofit profile at a glance

EIN
560944004
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fayetteville, NC, USA
Phone
9108685131
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$7,205,106
Expenses
$6,881,049
Assets
$7,385,701
Liabilities
$1,742,698

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

Leadership & pay

21 people listed

People named in this filing

  • WELLS ALDERMAN (TRUSTEE)
  • JOSH BARKMAN (TRUSTEE)
  • FAITH CHIMA (TRUSTEE)

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

Fayetteville academy is an independent, college preparatory school (prek- 12) that encourages students to achieve their full potential by offering exceptional opportunities in academics, fine arts, and athletics. The academy emphasizes scholarship, honor, leadership, and citizenship in a safe and inclusive environment. The academy is proud to be ranked the number one private school in the fayetteville area and among the top 20 best private schools in North Carolina by niche.com.

What it reported doing in 2024

Fayetteville academy, an independent, college preparatory school, encourages students to achieve their full potential by offering opportunities in academics, fine arts, and athletics. The academy is proud to be ranked the number one private school in the fayetteville area and among the top 20 best private schools in North Carolina by niche.com. Fayetteville academy's small class sizes, safe and caring atmosphere and numerous extracurricular activities ensure that each child at the academy receives a unique educational experience. The school offers state-of-the-art steam smartlabs, band, chorus, theatre, on-site sat and act testing, a college counseling program, 13ap and 15 honor courses, over 25 clubs and organizations, before and after school care and enrichment programs, a chromebook and ipad program, a full-time nurse on site, and the summer odyssey camp program. The average sat and act scores of academy students exceed national averages. Students can participate in competitions such as battle of the books, lego robotics team, mock trial, science olympiad, and scripps spelling bee. In addition, the academy offers 24 athletic teams including basketball, soccer, tennis, volleyball, golf , cross country, track, baseball, lacrosse, swimming, and cheerleading. Athletic teams have won a total of 23 state championships. Approximately 1/3 of students at fa receive financial aid, and 1/3 are from military families. The academy boasts a diverse student population with over 1/3 of students being from minority backgrounds. 72% of the faculty and administration hold advanced degrees.

Operating model

Revenue model
Earned-program. 95% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 83
  • Accountability: 94
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.7%; rating input score 75
  • Program expense ratio: 80.1%; rating input score 80
  • Fundraising efficiency: $1.38 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th 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: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.5%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 1.07; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 74.7% of revenue deployed · 80.1% of spending went to programs
  • Governance: 21 of 21 board members independent · 6 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $5.5M in reported program spending
  • Leadership: top reported pay $0 · 21 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.