Triangle Education Organization: FY2021 Nonprofit Profile & Form 990 (EIN 47-5478684)

Bruce Friend’s $172K as Head of School is at the 25th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Bruce Friend	$172,050	$168,000	$163,100	—	—	—
Stephanie Needham	—	$114,054	$106,657	$94,834	$87,158	—
Glenn Dansky	—	$99,736	$96,828	—	—	—
Christina Womble	—	—	—	—	—	$47,256

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Operates a public charter school for students.

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1 program · $6.6M · in their own filed words · FY2020

01

Operated a public charter school in holly springs, NC serving approximately 832 students during the 2020-2021 fiscal year.

$6.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2024

American Online Giving Foundation INCFY2024$7K

Fidelity FoundationFY2024$1K

Cigna FoundationFY2024$104

American Tower Charitable Foundation INCFY2024$100

Total grants receivedfrom 4 funders$9K

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By the numbers

The FY2021 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$8.5M

Ln 12

Fees for servicesLn 2g$7.5M

Gifts and grantsLn 1h$799K

Other incomeLn 4–11$132K

Money outPt IX

$8.5M

Ln 25

Programscol B$6.6M

Managementcol C$2.0M

Owns and owesPt X

$2.2M

net assets · Ln 32

Cash and savingsLn 1–2$12.7M

Total assetsLn 16$38.3M

LiabilitiesLn 26$36.1M

PeoplePt VI, VII

9

listed · VII A

PaidVII A1

Voting boardVI 1a8

IndependentVI 1b8

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$799K

Government grantsLn 1e$747K

Fees for servicesLn 2g$7.5M

Investment incomeLn 3$861

Other incomeLn 4–11$132K

Gains on assetsLn 7−$10K

Total revenueLn 12$8.5M

Assets in detailPt X, end of year

CashLn 1$10.7M

SavingsLn 2$2.0M

Cash and savings togetherLn 1–2$12.7M

Land, buildings, equipmentLn 10c$17.1M

Other assetsLn 15$8.0M

Total assetsLn 16$38.3M

LiabilitiesLn 26$36.1M

Net assetsLn 32$2.2M

OperationsPt I, VI

EmployeesI 583

VolunteersI 620

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$2.5M	$12.7M
Land, buildings, equipmentLn 10c	$15.5M	$17.1M
Total assetsLn 16	$18.6M	$38.3M
LiabilitiesLn 26	$16.4M	$36.1M
Net assetsLn 32	$2.2M	$2.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$204K		$204K
Other salaries and wagesLn 7	$3.0M	$2.7M	$253K
Pension plan contributionsLn 8	$63K	$54K	$9K
Other employee benefitsLn 9	$395K	$338K	$57K
Payroll taxesLn 10	$267K	$228K	$39K
Legal feesLn 11b	$12K		$12K
Accounting feesLn 11c	$8K		$8K
Other fees for servicesLn 11g	$575K	$350K	$225K
Advertising and promotionLn 12	$25K		$25K
Office expensesLn 13	$387K	$272K	$115K
Information technologyLn 14	$142K	$139K	$3K
OccupancyLn 16	$169K	$130K	$39K
TravelLn 17	$3K	$1K	$1K
Conferences, conventions and meetingsLn 19	$2K	$482	$1K
InterestLn 20	$1.6M	$1.2M	$389K
Depreciation, depletion and amortizationLn 22	$530K	$347K	$183K
InsuranceLn 23	$53K		$53K
Other expenses (24a–d)Ln 24	$1.2M	$851K	$338K
All other expensesLn 24e	$9K	$7K	$2K
Total functional expensesLn 25	$8.5M	$6.6M	$2.0M	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$38.3M	$36.8M	$1.4M	$4.7M	990 PDF
FY2024	$14.5M	$14.3M	$187K	$3.2M	990 PDF
FY2023	$13.2M	$12.9M	$301K	$3.0M	990 PDF
FY2022	$11.4M	$10.9M	$568K	$2.7M	990 PDF
FY2021 Viewing	$8.5M	$8.5M	−$90K	$2.2M	990 PDF
FY2020	$7.0M	$7.0M	$64K	$2.2M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $8,454,714 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $146,529$799,345

I-9 Program service revenuePrior year $6,778,679$7,523,766

I-10 Investment incomePrior year $4,548−$8,992

I-11 Other revenuePrior year $87,899$140,595

I-12 Total revenuePrior year $7,017,655$8,454,714

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $3,421,443$3,886,884

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $3,532,092$4,658,236

I-18 Total expensesPrior year $6,953,535$8,545,120

I-19 Revenue less expensesPrior year $64,120−$90,406

Part VI · Governance 8 of 8 board members independent, 1 to look at

VI-1a Voting members of the governing body8

VI-1b Independent voting members8

VI-13 Written whistleblower policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $8,454,714 across 9 lines filed

VIII-1e Government grants$747,058

VIII-1f All other contributions, gifts and grants$52,287

VIII-1h Total contributions, gifts and grants$799,345

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,523,766$7,523,766

VIII-3 Investment incomeRelated to mission $861$861

VIII-7 Net gain or loss on sales of assetsRelated to mission −$9,853−$9,853

VIII-8 Net income from fundraising events$19,619

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $120,976$120,976

VIII-12 Total revenueRelated to mission $7,635,750$8,454,714

Part IX · Statement of functional expenses $8,545,120 across 19 lines filed

IX-5 Pay of current officers, directors and key staffManagement $204,359$204,359

IX-7 Other salaries and wagesPrograms $2,704,195 · Management $253,317$2,957,512

IX-8 Pension plan contributionsPrograms $54,274 · Management $9,186$63,460

IX-9 Other employee benefitsPrograms $338,103 · Management $56,915$395,018

IX-10 Payroll taxesPrograms $227,820 · Management $38,715$266,535

IX-11b Legal feesManagement $12,165$12,165

IX-11c Accounting feesManagement $8,150$8,150

IX-11g Other fees for servicesPrograms $350,002 · Management $225,097$575,099

IX-12 Advertising and promotionManagement $25,329$25,329

IX-13 Office expensesPrograms $272,027 · Management $114,824$386,851

IX-14 Information technologyPrograms $139,371 · Management $2,758$142,129

IX-16 OccupancyPrograms $130,498 · Management $38,734$169,232

IX-17 TravelPrograms $1,250 · Management $1,491$2,741

IX-19 Conferences, conventions and meetingsPrograms $482 · Management $1,128$1,610

IX-20 InterestPrograms $1,166,032 · Management $388,678$1,554,710

IX-22 Depreciation, depletion and amortizationPrograms $346,697 · Management $183,261$529,958

IX-23 InsuranceManagement $52,501$52,501

IX-24 Other expenses (24a–d)Programs $851,001 · Management $338,064$1,189,065

IX-24e All other expensesPrograms $6,970 · Management $1,726$8,696

IX-25 Total functional expensesPrograms $6,588,722 · Management $1,956,398 · Fundraising $0$8,545,120

Part X · Balance sheet $38,299,119 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $1,481,264$10,702,779

X-2 Savings and temporary cash investmentsStart of year $1,006,332$2,006,526

X-4 Accounts receivableStart of year $172,257$51,241

X-9 Prepaid expenses and deferred chargesStart of year $50,703$393,706

X-10c Land, buildings and equipment, netStart of year $15,466,980$17,140,278

X-15 Other assetsStart of year $450,049$8,004,589

X-16 Total assetsStart of year $18,627,585$38,299,119

X-17 Accounts payable and accrued expensesStart of year $86,653$55,711

X-20 Tax-exempt bond liabilities$35,539,500

X-26 Total liabilitiesStart of year $16,385,466$36,147,406

X-27 Net assets without donor restrictionsStart of year $2,242,119$2,151,713

X-32 Total net assets or fund balancesStart of year $2,242,119$2,151,713

X-33 Total liabilities and net assetsStart of year $18,627,585$38,299,119

Part XI · Reconciliation of net assets $2,151,713 net assets at year end

XI-1 Total revenue$8,454,714

XI-2 Total expenses$8,545,120

XI-3 Revenue less expenses−$90,406

XI-4 Net assets at start of year$2,242,119

XI-10 Net assets at end of year$2,151,713

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Triangle Education Organization FY2021 filing

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