Wake Preparatory Academy
Nonprofit profile at a glance
- EIN
- 813748488
- IRS 990 coverage
- 2022–2024
- Official website data refreshed
- Aug 2026
- Forms available
- Form 990 2024, Form 990-N 2020
- Location
- Wake Forest, NC, US
- Phone
- (984) 249-6840
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Charter Schools
Reported finances
- Revenue
- $30,649,526
- Expenses
- $30,653,614
- Assets
- $41,434,344
- Liabilities
- $42,675,404
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- Kyle Shrauger (President)
- Michael Featham (Vice President)
People named in this filing
- Kyle Shrauger (President)
- Michael Featham (Vice President)
- Tammy Alexander (Treasurer)
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
To provide a challenging, individualized education program with a moral focus while preparing its students to graduate from high school with paths to acceptance and success in college, a career and beyond.
What it reported doing in 2024
Operation of a charter school serving approximately 2,618 students for the fiscal year ended June 30, 2025.
Operating model
- Revenue model
- Earned-program. 97% 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. Expenses are high relative to revenue and assets have declined or grown slowly.
Rating breakdown
- Financial Efficiency: 54
- Transparency & Controls: 90
- Accountability: 100
- Sustainability: 40
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 61.4%; rating input score 61
- Program expense ratio: 61.4%; rating input score 61
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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; 66th percentile among comparable filings
- Governance controls: 7 of 7 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: 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: -0%; rating input score 31; 31st percentile among comparable filings
- Total-asset coverage ratio: 1.35; rating input score 47; 47th percentile among comparable filings
- Liabilities to assets ratio: 1.03; rating input score 5; 5th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings
Growth
- Program expense growth: 18.2% per year; rating input score 100; 88th percentile among comparable filings
- Revenue growth: 25.2% per year; rating input score 100; 95th percentile among comparable filings
- Asset growth: -4.5% per year; rating input score 0; 3rd percentile among comparable filings
Details
- What they do: 6 programs and campaigns described on the official site · 5 operating locations identified
- Where the money goes: 61.4% of revenue deployed · 61.4% of spending went to programs
- Governance: 7 of 7 board members independent · 7 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $18.8M in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 26 of 26 current checks pass
- Schedules: 4 filed schedules
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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.
- Moderate — Sustainability: Operating margin scored 31/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
- High — Sustainability: Liabilities to assets ratio scored 5/100.