Arapahoe Charter School

Tax-deductible

Arapahoe, NC501(c)(3)Since 1996EducationEIN 56-1967591

Organization operates a public charter school under the control of the north carolina department of public instruction to provide a quality education.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$426K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $321K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$426K
to officers and key staff · 5% of spending
Top officer’s pay lower than 62% of similar orgs
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $14K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$17.8M
126% of total assets
Concern: liabilities are 126% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.5M
+3% vs prior year
Spent
$8.4M
To programs
85%
Net assets
−$3.7M
By yearFY2020–FY2024
Revenue
$8.5M
FY2024▲ +3%
Revenue by fiscal year
FY2020$6.7M
FY2021$6.8M
FY2022$8.1M
FY2023$8.4M
FY2024$8.3M
FY2024$8.5M
Expenses
$8.4M
FY2024+0.2%
Expenses by fiscal year
FY2020$7.3M
FY2021$6.8M
FY2022$6.8M
FY2023$7.3M
FY2024$8.4M
FY2024$8.4M
Net assets
−$3.7M
FY2024▼ -24%
Net assets by fiscal year
FY2020−$5.3M
FY2021−$5.3M
FY2022−$4.0M
FY2023−$2.9M
FY2024−$3.0M
FY2024−$3.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1997.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $7.2M Management & general 15% · $1.3M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

11 people listed on the 990; $426K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Execut
$108,696Pt VII · Sec A
Chief Academ
$105,154Pt VII · Sec A
Board Treasu
$64,791Pt VII · Sec A
Board Member
$57,197Pt VII · Sec A
Board Chairp
$53,272Pt VII · Sec A
Board Member
$16,740Pt VII · Sec A
Board Member
$14,647Pt VII · Sec A
Board Member
$4,792Pt VII · Sec A

Chris Watson’s $109K as Chief Execut is at the 38th percentile of top reported officer pay among 3395 $1–10M 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 · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Chris Watson$108,696$123,090$104,607$100,126—$100,988
Cody Edwards$105,154$116,342————
Sherry Reeves—$66,695$68,948$63,418——
Jennifer Cook$64,791—————
Sandi Prescott————$64,275$63,029
Yvonne Hardison—$61,786$63,722$53,607——
James Lee———$61,400——
Bill Brown$57,197$57,266————

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.

See Arapahoe Charter School executive salaries →

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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 providing quality education.

Provided by the organization

This section is blank until Arapahoe Charter School claims this page.

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1 program service account for $7.2M of program spending, described in the organization's own filed words · FY2024.
01

Public school provides education to approximately 500 children

$7.2Mprogram expense

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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
Total grants receivedfrom 1 funder$14K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$8.5M
Ln 12
Gifts and grantsLn 1h$8.5M
Fees for servicesLn 2g$40K
Money outPt IX
$8.4M
Ln 25
Programscol B$7.2M
Managementcol C$1.3M
Owns and owesPt X
−$3.7M
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$14.1M
LiabilitiesLn 26$17.8M
PeoplePt VI, VII
11
listed · VII A
PaidVII A9
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.5M
Government grantsLn 1e$7.5M
Noncash giftsLn 1g$19K
Fees for servicesLn 2g$40K
Total revenueLn 12$8.5M
Assets in detailPt X, end of year
CashLn 1$2.2M
Cash and savings togetherLn 1–2$2.2M
Land, buildings, equipmentLn 10c$7.5M
Other assetsLn 15$4.4M
Total assetsLn 16$14.1M
LiabilitiesLn 26$17.8M
Net assetsLn 32−$3.7M
OperationsPt I, VI
EmployeesI 5111
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.3M$2.2M
Land, buildings, equipmentLn 10c$7.6M$7.5M
Total assetsLn 16$14.1M$14.1M
LiabilitiesLn 26$17.1M$17.8M
Net assetsLn 32−$3.0M−$3.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$4.6M$4.2M$463K
Other employee benefitsLn 9$2.1M$1.9M$181K
Legal feesLn 11b$42K$42K
Accounting feesLn 11c$14K$14K
Information technologyLn 14$67K$67K
OccupancyLn 16$346K$156K$190K
TravelLn 17$3K$3K
Conferences, conventions and meetingsLn 19$26K$26K
Depreciation, depletion and amortizationLn 22$267K$261K$5K
InsuranceLn 23$106K$106K
Other expenses (24a–d)Ln 24$775K$547K$228K
All other expensesLn 24e$79K$58K$21K
Total functional expensesLn 25$8.4M$7.2M$1.3M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $8.3M$8.4M−$129K−$3.0M 990 PDF
FY2023 $8.4M$7.3M$1.1M−$2.9M 990 PDF
FY2022 $8.1M$6.8M$1.3M−$4.0M 990 PDF
FY2021 $6.8M$6.8M−$44K−$5.3M 990 PDF
FY2020 $6.7M$7.3M−$676K−$5.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $8,514,548 across 6 lines filed
VIII-1e Government grants$7,509,093
VIII-1f All other contributions, gifts and grants$965,336
VIII-1g Noncash contributions (included above)$19,498
VIII-1h Total contributions, gifts and grants$8,474,429
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $40,119$40,119
VIII-12 Total revenueRelated to mission $40,119$8,514,548
Part IX · Statement of functional expenses $8,436,632 across 12 lines filed
IX-7 Other salaries and wagesPrograms $4,173,351 · Management $462,863$4,636,214
IX-9 Other employee benefitsPrograms $1,895,758 · Management $180,941$2,076,699
IX-11b Legal feesManagement $42,200$42,200
IX-11c Accounting feesManagement $13,950$13,950
IX-14 Information technologyPrograms $66,869$66,869
IX-16 OccupancyPrograms $155,653 · Management $190,257$345,910
IX-17 TravelPrograms $3,002$3,002
IX-19 Conferences, conventions and meetingsPrograms $25,564$25,564
IX-22 Depreciation, depletion and amortizationPrograms $261,184 · Management $5,330$266,514
IX-23 InsuranceManagement $105,555$105,555
IX-24 Other expenses (24a–d)Programs $546,556 · Management $228,291$774,847
IX-24e All other expensesPrograms $58,160 · Management $21,148$79,308
IX-25 Total functional expensesPrograms $7,186,097 · Management $1,250,535 · Fundraising $0$8,436,632
Part X · Balance sheet $14,088,430 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,283,707$2,243,911
X-4 Accounts receivable$3,243
X-8 Inventories for sale or useStart of year $7,494$7,894
X-10c Land, buildings and equipment, netStart of year $7,571,319$7,455,592
X-15 Other assetsStart of year $4,255,465$4,377,790
X-16 Total assetsStart of year $14,117,985$14,088,430
X-17 Accounts payable and accrued expensesStart of year $250,842$7,304
X-19 Deferred revenueStart of year $3,287$3,040
X-25 Other liabilitiesStart of year $11,840,259$12,938,184
X-26 Total liabilitiesStart of year $17,105,725$17,781,399
X-27 Net assets without donor restrictionsStart of year −$3,595,054−$4,311,740
X-28 Net assets with donor restrictionsStart of year $607,314$618,771
X-32 Total net assets or fund balancesStart of year −$2,987,740−$3,692,969
X-33 Total liabilities and net assetsStart of year $14,117,985$14,088,430
Part XI · Reconciliation of net assets −$3,692,969 net assets at year end
XI-1 Total revenue$8,514,548
XI-2 Total expenses$8,436,632
XI-3 Revenue less expenses$77,916
XI-4 Net assets at start of year−$2,987,740
XI-8 Prior period adjustments−$783,145
XI-10 Net assets at end of year−$3,692,969

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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