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Davidson Charter Academy INC FY2024 filing

Tax-deductible

Lexington, NC501(c)(3)Since 2017Education EIN 81-3746270Revenue $6.3M in FY2024

On file with the IRSdavidsoncharter.org500 Biesecker Rd, 27295-1522 · Lexington, NCTax-exempt since May 2018School — 170(b)(1)(A)(ii)

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To foster student learning and achievement, and inspire students to become independent thinkers, effective communicators, and contributing citizens of a global society.

501(c)(3) charity; gifts are tax-deductible.
57¢ of each $1 spent went to programs.
$239K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
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
3 of 6
filings with a surplus
Average deficit $253K a year · 5% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
57%
of spending
Worth a look: 57% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$239K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$21.0M
99% of total assets
Concern: liabilities are 99% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.3M
+13% vs prior year
Spent
$7.4M
To programs
57%
Net assets
$108K
By yearFY2020–FY2025
Revenue
$6.3M
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.5M
FY2021$4.7M
FY2022$5.4M
FY2023$5.6M
FY2024$6.3M
FY2025$6.4M
Expenses
$7.4M
FY2024▲ +22%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.4M
FY2021$4.2M
FY2022$4.7M
FY2023$6.0M
FY2024$7.4M
FY2025$7.8M
Net assets
$108K
FY2024▼ -91%
Tap a bar for its year
Net assets by fiscal year
FY2020$427K
FY2021$972K
FY2022$1.6M
FY2023$1.2M
FY2024$108K
FY2025−$1.2M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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 May 2018.

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

Where the money goes

57 cents of each dollar spent went to programs.

Program services 57% · $4.2M Management & general 43% · $3.2M

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

8 people listed on the 990; $239K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Jennifer Flury
Dir. of Business Operations
$127,343Pt VII · Sec A
Lori James
Associate Head of School
$111,927Pt VII · Sec A
Warren Alston
Treasurer
$0Pt VII · Sec A
Andrew Lance
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Lori James’s $126K as Director of Education is at the 50th 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2021FY2020
Jennifer Flury—$127,343$74,745$63,194
Lori James$126,432$111,927——
Joseph Wood$72,704———

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

Empowers students to learn, think independently, communicate effectively, and contribute to society.

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Provided by the organization

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1 program · $4.2M · in their own filed words · FY2023
01

Operated as a charter school in lexington, NC, serving approximately 577 students for the fiscal year ending 6/30/2024.

$4.2Mprogram 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
Challenge Foundation Properties INCFY2024$25K
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$6.3M
Ln 12
Gifts and grantsLn 1h$5.9M
Other incomeLn 4–11$364K
Investment incomeLn 3$83K
Money outPt IX
$7.4M
Ln 25
Programscol B$4.2M
Managementcol C$3.2M
Owns and owesPt X
$108K
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$21.1M
LiabilitiesLn 26$21.0M
PeoplePt VI, VII
8
listed · VII A
PaidVII A2
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.9M
Government grantsLn 1e$5.8M
Investment incomeLn 3$83K
Other incomeLn 4–11$364K
Total revenueLn 12$6.3M
Assets in detailPt X, end of year
CashLn 1$894K
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$2.1M
Land, buildings, equipmentLn 10c$18.6M
Total assetsLn 16$21.1M
LiabilitiesLn 26$21.0M
Net assetsLn 32$108K
OperationsPt I, VI
EmployeesI 5104
VolunteersI 65
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$20.9M
Bond issues listedSch K Pt I3
Raised by those issuesSch K Pt I$22.7M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.4M$2.1M
Land, buildings, equipmentLn 10c$16.6M$18.6M
Total assetsLn 16$18.9M$21.1M
LiabilitiesLn 26$17.8M$21.0M
Net assetsLn 32$1.2M$108K
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$3.0M$1.7M$1.3M
Pension plan contributionsLn 8$55K$31K$24K
Other employee benefitsLn 9$370K$210K$160K
Payroll taxesLn 10$236K$134K$102K
Legal feesLn 11b$34K$19K$15K
Accounting feesLn 11c$16K$9K$7K
Other fees for servicesLn 11g$1.2M$678K$515K
Advertising and promotionLn 12$3K$2K$1K
Office expensesLn 13$38K$21K$16K
Information technologyLn 14$39K$22K$17K
OccupancyLn 16$138K$78K$59K
TravelLn 17$549$312$237
Conferences, conventions and meetingsLn 19$26K$15K$11K
InterestLn 20$1.4M$805K$611K
Depreciation, depletion and amortizationLn 22$451K$256K$195K
InsuranceLn 23$51K$29K$22K
Other expenses (24a–d)Ln 24$294K$167K$127K
All other expensesLn 24e$4K$2K$2K
Total functional expensesLn 25$7.4M$4.2M$3.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.4M$7.8M−$1.3M−$1.2M 990 PDF
FY2024 ViewingFiled with the IRS May 12, 2025 $6.3M$7.4M−$1.1M$108K 990 PDF
FY2023Filed with the IRS May 15, 2024 $5.6M$6.0M−$420K$1.2M 990 PDF
FY2022Filed with the IRS May 12, 2023 $5.4M$4.7M$611K$1.6M 990 PDF
FY2021Filed with the IRS May 5, 2022 $4.7M$4.2M$545K$972K 990 PDF
FY2020Filed with the IRS May 14, 2021 $3.5M$3.4M$145K$427K 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 FY2024 990 (6 parts)
Part I · Summary $6,299,889 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,463,160$5,852,949
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $87,809$83,097
I-11 Other revenuePrior year $42,310$363,843
I-12 Total revenuePrior year $5,593,279$6,299,889
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 $3,454,150$3,651,381
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,559,613$3,703,342
I-18 Total expensesPrior year $6,013,763$7,354,723
I-19 Revenue less expensesPrior year −$420,484−$1,054,834
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $6,299,889 across 6 lines filed
Lines not itemized here account for $49,778 of total revenue; see the IRS return.
VIII-1e Government grants$5,820,249
VIII-1f All other contributions, gifts and grants$32,700
VIII-1h Total contributions, gifts and grants$5,852,949
VIII-3 Investment incomeExcluded from tax $33,319$33,319
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $363,843$363,843
VIII-12 Total revenueRelated to mission $363,843 · Unrelated business $0 · Excluded from tax $83,097$6,299,889
Part IX · Statement of functional expenses $7,354,723 across 18 lines filed
IX-7 Other salaries and wagesPrograms $1,700,198 · Management $1,291,152$2,991,350
IX-8 Pension plan contributionsPrograms $31,063 · Management $23,589$54,652
IX-9 Other employee benefitsPrograms $210,214 · Management $159,639$369,853
IX-10 Payroll taxesPrograms $133,866 · Management $101,660$235,526
IX-11b Legal feesPrograms $19,189 · Management $14,573$33,762
IX-11c Accounting feesPrograms $9,291 · Management $7,055$16,346
IX-11g Other fees for servicesPrograms $678,456 · Management $515,228$1,193,684
IX-12 Advertising and promotionPrograms $1,548 · Management $1,175$2,723
IX-13 Office expensesPrograms $21,455 · Management $16,294$37,749
IX-14 Information technologyPrograms $21,913 · Management $16,641$38,554
IX-16 OccupancyPrograms $78,348 · Management $59,499$137,847
IX-17 TravelPrograms $312 · Management $237$549
IX-19 Conferences, conventions and meetingsPrograms $14,945 · Management $11,350$26,295
IX-20 InterestPrograms $804,515 · Management $610,959$1,415,474
IX-22 Depreciation, depletion and amortizationPrograms $256,351 · Management $194,676$451,027
IX-23 InsurancePrograms $29,229 · Management $22,197$51,426
IX-24 Other expenses (24a–d)Programs $167,175 · Management $126,954$294,129
IX-24e All other expensesPrograms $2,147 · Management $1,630$3,777
IX-25 Total functional expensesPrograms $4,180,215 · Management $3,174,508 · Fundraising $0$7,354,723
Part X · Balance sheet $21,083,488 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $816,577$893,525
X-2 Savings and temporary cash investmentsStart of year $1,536,690$1,159,518
X-4 Accounts receivableStart of year $6,555$393,052
X-9 Prepaid expenses and deferred charges$3,300
X-10c Land, buildings and equipment, netStart of year $16,587,439$18,634,093
X-16 Total assetsStart of year $18,947,261$21,083,488
X-17 Accounts payable and accrued expensesStart of year $1,049,055$54,116
X-20 Tax-exempt bond liabilitiesStart of year $16,735,100$20,921,100
X-26 Total liabilitiesStart of year $17,784,155$20,975,216
X-27 Net assets without donor restrictionsStart of year $1,163,106$2,297,869
X-28 Net assets with donor restrictions−$2,189,597
X-32 Total net assets or fund balancesStart of year $1,163,106$108,272
X-33 Total liabilities and net assetsStart of year $18,947,261$21,083,488
Part XI · Reconciliation of net assets $108,272 net assets at year end
XI-1 Total revenue$6,299,889
XI-2 Total expenses$7,354,723
XI-3 Revenue less expenses−$1,054,834
XI-4 Net assets at start of year$1,163,106
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$108,272

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

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