Pine Lake Preparatory

Nonprofit profile at a glance

EIN
061796895
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Mooresville, NC, USA
Phone
7042345310
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$24,980,489
Expenses
$23,418,417
Assets
$48,762,585
Liabilities
$61,917,597

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

Leadership & pay

14 people listed

Highest reported compensation

  • Andrew Moceri (Administrator): $173,897 total reported compensation
  • Tim Hoffman (Principal): $126,405 total reported compensation
  • Sherri Fletcher (Officer): $108,240 total reported compensation

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

Operation of a charter school in Mooresville, North Carolina, serving approximately 1,889 students for the fiscal year ended June 30, 2025.

Operating model

Revenue model
Earned-program. 93% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 74
  • Accountability: 90
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.9%; rating input score 76
  • Program expense ratio: 80.9%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.3%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 2.08; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 1.27; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 5.2% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 75.9% of revenue deployed · 80.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $19M in reported program spending
  • Leadership: top reported pay $174K · 14 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $250K reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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 — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Operating margin scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.