Thales Academy

Nonprofit profile at a glance

EIN
208920342
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9194536415
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$84,614,285
Expenses
$56,685,227
Assets
$207,687,710
Liabilities
$37,560,632

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

Leadership & pay

5 people listed

Executive titles in this filing

  • ROBERT L LUDDY (PRESIDENT & CHAIR)
  • JUDY A NUNNENKAMP (VICE PRESIDENT)

Highest reported compensation

  • ASHLEY K BAHOR (DIRECTOR OF ACADEMICS): $116,107 total reported compensation

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

Overview

Mission

Here at Thales Academy, we believe schools should accomplish three main objectives: teach students knowledge, teach them how to think on their own, and give them the tools they need to reach their greatest potential. The mission of Thales (THAY-LEEZ) Academy is to provide an excellent and affordable education for students in Pre-K to 12th grades through the use of Direct Instruction and a Classical Curriculum that embodies traditional American values.

What it reported doing in 2024

Operated school facilities in apex, cary, holly springs, knightdale, raleigh, rolesville, wake forest, and waxhaw, North Carolina, franklin, Tennessee and glen allen, Virginia. These schools have the combined capacity to teach 7,180 students.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. No material rating questions were generated from the available inputs.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67%; rating input score 67
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: $207.67 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 33%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 3.66; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 16.2% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 16% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 16.4% per year; rating input score 100; 89th percentile among comparable filings

Details

  • What they do: Mission, programs, and operating context captured from the official website.
  • Where the money goes: 67% of revenue deployed · 97.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $55M in reported program spending
  • Leadership: top reported pay $116K · 5 people listed
  • Highest-paid contractors: 5 contractors listed · $19.5M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 9 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.