Triangle Education Organization

Nonprofit profile at a glance

EIN
475478684
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
Holly Springs, NC, USA
Phone
9194399448
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$38,298,703
Expenses
$36,849,597
Assets
$54,623,831
Liabilities
$49,966,793

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

Leadership & pay

8 people listed

Highest reported compensation

  • BRUCE FRIEND (HEAD OF SCHOOL): $172,050 total reported compensation

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

Overview

Mission

Operate a Public Charter School.

What it reported doing in 2024

Operation of a Charter School in Holly Springs, NC

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 60
  • Accountability: 95
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.7%; rating input score 80
  • Program expense ratio: 82.8%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 66th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.8%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 1.48; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0.5%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: 33% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 32.5% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 14.8% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 79.7% of revenue deployed · 82.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $30.5M in reported program spending
  • Leadership: top reported pay $172K · 8 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $421K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2019 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.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.