To operate a public School academy which provides education based on rigorous teaching methods, parental involvement, student responsibility, and basic moral values.

78¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · 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
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $40K a year · under 1% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$647K
93% of total assets
Concern: liabilities are 93% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.9M
+11% vs prior year
Spent
$7.9M
To programs
78%
Net assets
$48K
By yearFY2020–FY2025
Revenue
$7.9M
FY2021▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.1M
FY2021$7.9M
FY2022$8.2M
FY2023$8.6M
FY2024$9.3M
FY2025$9.4M
Expenses
$7.9M
FY2021▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.1M
FY2021$7.9M
FY2022$8.1M
FY2023$8.6M
FY2024$9.3M
FY2025$9.3M
Net assets
$48K
FY2021▲ +73%
Tap a bar for its year
Net assets by fiscal year
FY2020$27K
FY2021$48K
FY2022$126K
FY2023$157K
FY2024$213K
FY2025$251K

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2002.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $6.2M Management & general 22% · $1.7M

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

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Preeminent Charter School INC 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 15aNo

Programs and updates

Provides rigorous education with parental involvement and moral values.

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2 programs · $6.2M · in their own filed words · FY2020
01

Operated an educational institution organized as a public school academy. The school provides education, at no cost to the parent, to students in kindergarten through eighth grade. The school operates under an approved charter received from the north carolina state board of education.

$6.1Mprogram expense
02

Operated a school food service program at the public school academy described above. The school offers free or reduced lunch for families that qualify. Funding for the food service program was provided by the usda food and nutrition service in the amount of $44,438.

$50Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$7.9M
Ln 12
Gifts and grantsLn 1h$7.9M
Other incomeLn 4–11$35K
Fees for servicesLn 2g$6K
Money outPt IX
$7.9M
Ln 25
Programscol B$6.2M
Managementcol C$1.7M
Owns and owesPt X
$48K
net assets · Ln 32
Cash and savingsLn 1–2$415K
Total assetsLn 16$694K
LiabilitiesLn 26$647K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.9M
Government grantsLn 1e$7.9M
Fees for servicesLn 2g$6K
Other incomeLn 4–11$35K
Gains on assetsLn 7$0
Total revenueLn 12$7.9M
Assets in detailPt X, end of year
CashLn 1$415K
SavingsLn 2$0
Cash and savings togetherLn 1–2$415K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$694K
LiabilitiesLn 26$647K
Net assetsLn 32$48K
OperationsPt I, VI
EmployeesI 50
VolunteersI 6177
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
LineStart FY21End FY21
Cash and savingsLn 1–2$101K$415K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$262K$694K
LiabilitiesLn 26$235K$647K
Net assetsLn 32$27K$48K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$2.9M$2.9M
Pension plan contributionsLn 8$48K$48K
Other employee benefitsLn 9$545K$545K
Payroll taxesLn 10$225K$225K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$146K$15K$132K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$496K$496K
Advertising and promotionLn 12$113K$54K$59K
Office expensesLn 13$557K$557K
Information technologyLn 14$425K$18K$407K
RoyaltiesLn 15$0
OccupancyLn 16$1.2M$1.2M$27K
TravelLn 17$2K$2K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$20K$20K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$22K$22K
Other expenses (24a–d)Ln 24$948K$948K
All other expensesLn 24e$220K$69K$151K
Total functional expensesLn 25$7.9M$6.2M$1.7M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $9.4M$9.3M$38K$251K 990 PDF
FY2024 $9.3M$9.3M$56K$213K 990 PDF
FY2023 $8.6M$8.6M$31K$157K 990 PDF
FY2022 $8.2M$8.1M$78K$126K 990 PDF
FY2021 Viewing $7.9M$7.9M$20K$48K 990 PDF
FY2020 $7.1M$7.1M$13K$27K 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 $7,902,732 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,055,183$7,861,552
I-9 Program service revenuePrior year $40,516$6,180
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $35,000$35,000
I-12 Total revenuePrior year $7,130,699$7,902,732
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,582,015$3,743,517
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,535,274$4,139,082
I-18 Total expensesPrior year $7,117,289$7,882,599
I-19 Revenue less expensesPrior year $13,410$20,133
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $7,902,732 across 11 lines filed
VIII-1e Government grants$7,859,652
VIII-1f All other contributions, gifts and grants$1,900
VIII-1h Total contributions, gifts and grants$7,861,552
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,180$6,180
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $35,000$35,000
VIII-12 Total revenueRelated to mission $6,180 · Excluded from tax $35,000$7,902,732
Part IX · Statement of functional expenses $7,882,599 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $2,925,839$2,925,839
IX-8 Pension plan contributionsPrograms $48,123$48,123
IX-9 Other employee benefitsPrograms $544,861$544,861
IX-10 Payroll taxesPrograms $224,694$224,694
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $14,820 · Management $131,621$146,441
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $496,435$496,435
IX-12 Advertising and promotionPrograms $54,220 · Management $59,199$113,419
IX-13 Office expensesPrograms $556,788$556,788
IX-14 Information technologyPrograms $17,927 · Management $407,453$425,380
IX-15 Royalties$0
IX-16 OccupancyPrograms $1,162,798 · Management $26,549$1,189,347
IX-17 TravelPrograms $1,636$1,636
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $19,533$19,533
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $22,022$22,022
IX-24 Other expenses (24a–d)Management $948,092$948,092
IX-24e All other expensesPrograms $69,063 · Management $150,926$219,989
IX-25 Total functional expensesPrograms $6,158,759 · Management $1,723,840 · Fundraising $0$7,882,599
Part X · Balance sheet $694,231 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $100,610$414,905
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $160,839$278,538
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $1,004$788
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $262,453$694,231
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $33,286$34,141
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $201,718$612,508
X-26 Total liabilitiesStart of year $235,004$646,649
X-27 Net assets without donor restrictionsStart of year $27,449$47,582
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $27,449$47,582
X-33 Total liabilities and net assetsStart of year $262,453$694,231
Part XI · Reconciliation of net assets $47,582 net assets at year end
XI-1 Total revenue$7,902,732
XI-2 Total expenses$7,882,599
XI-3 Revenue less expenses$20,133
XI-4 Net assets at start of year$27,449
XI-10 Net assets at end of year$47,582

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

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