2024-10-18T12:59:17-05:00 2024-06-30 561719839 Earney & Company LLP 710 Military Cutoff Road Suite 250 Wilmington NC 28405 990 2023-07-01 566075566 Cape Fear Academy CAPE 9107910287 3900 S College Road Wilmington NC 28412 Emily Garriott Treasurer 9107910287 2024-10-18 1 0 Ryan Skuce CPA P00742864 9102569995 2024-10-09 2023 2024-10-15 13:58:12Z Connor Keller 3900 S College Road Wilmington NC 28412 19420344 0 X www.capefearacademy.org X 1966 NC TO OPERATE A PRIVATE SCHOOL FOR GRADES PK - 12 IN WILMINGTON, NC. 15 15 272 500 0 0 625246 1568849 15753404 17419185 304920 432310 0 0 16683570 19420344 1670488 1883505 0 0 9348829 10166977 0 0 406562 4960386 5485225 15979703 17535707 703867 1884637 43901089 47687500 24613022 26056276 19288067 21631224 TO OPERATE A PRIVATE SCHOOL FOR GRADES PK - 12 IN WILMINGTON, NC. 0 0 14955037 1883505 17419185 IN FISCAL 2023/2024 OPERATED A PRIVATE SCHOOL FOR PRE-KINDERGARTEN THROUGH GRADE 12 LOCATED IN WILMINGTON, NC FOR 772 STUDENTS. 14955037 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 54 1 272 1 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X X SHANA BARCLAY 9107910287 3900 S COLLEGE ROAD WILMINGTON NC 28412 Connor Keller Chair 4.00 X X 0 0 0 Chris Fikry Vice Chair 4.00 X X 0 0 0 Jason Dahl Treasurer 4.00 X X 0 0 0 Elizabeth Wells Secretary 4.00 X X 0 0 0 Matt Scharf Director 4.00 X 0 0 0 Kelly Burnette Director 4.00 X 0 0 0 Emily Garriott Director 4.00 X 0 0 0 Porter Young Director 4.00 X 0 0 0 Crystal Peebles Director 4.00 X 0 0 0 Tripp Meine Director 4.00 X 0 0 0 Jill Webb Director 4.00 X 0 0 0 Tee Nunnelee Director 4.00 X 0 0 0 Andrea Johnston Director 4.00 X 0 0 0 Peter Kane Director 4.00 X 0 0 0 Dick Moore Director 4.00 X 0 0 0 Hal Kitchin Director 4.00 X 0 0 0 Shana Barclay Asst Head of School for Fi 40.00 X 154381 0 4750 Ed Ellison Head of School 40.00 X 221209 0 30000 Carla Whitwell Midd School Division Direc 40.00 X 107887 0 10322 Stephanie Medcalfe Asst Head of School for Ac 40.00 X 122323 0 7893 Gene Whipple Director of Information Te 40.00 X 104088 0 0 709888 0 52965 5 0 1 0 0 1568849 1568849 TUITION 611110 14608407 14608407 OTHER EDUCATION FEES 611110 2810778 2810778 17419185 432310 432310 19420344 17419185 0 432310 1883505 1883505 549018 94328 370682 84008 8072902 7234305 750167 88430 909298 772903 118209 18186 635759 540395 82649 12715 454449 431727 22722 1221305 1086961 122131 12213 Other Admin 1396384 674697 558554 163133 Repairs and Maintenance 977286 879557 78183 19546 Instructional and Auxil 856510 856510 Technology 416535 337393 70811 8331 162756 162756 17535707 14955037 2174108 406562 545773 108124 12939547 14656055 581632 387628 6277229 7601038 292005 212195 36663886 17693641 18720840 18970245 4042323 5591254 501740 160961 43901089 47687500 654154 849263 14635359 16177987 9323509 9029026 24613022 26056276 X 15721653 17620430 3566414 4010794 19288067 21631224 43901089 47687500 1884637 458520 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2617841 1083271 459876 500 4160488 2160024 237503 220814 500 2617841 1991577 480857 -311910 500 2160024 1224543 479882 287652 500 1991577 1167495 35302 22246 500 1224543 0 0 5419170 5419170 22396429 11816783 10579646 4235498 3048048 1187450 4612789 2828810 1783979 18970245 X 19878864 458520 458520 19420344 0 19420344 17535707 0 17535707 0 17535707 Part X, Line 2: Accounting principles generally accepted in the United States of America require Cape Fear Academy's management to evaluate tax positions taken by Cape Fear Academy and recognize a tax liability (or asset) if Cape Fear Academy has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Cape Fear Academy has analyzed the tax positions taken and has concluded that as of June 30, 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. Cape Fear Academy is subject to routine audits by taxing jurisdictions. However, there are currently no audits for any tax periods in progress. Cape Fear Academy believes it is not subject to income tax examinations for years prior to 2019. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 Financial Aid 1883505 FMV Scholarships X X X X 0 0 0 0 0 0 0 0 0 Ed Ellison Head of School 220209 0 1000 0 0 0 30000 0 0 0 251209 0 0 0 Shana Barclay Asst Head of School for Fi 153381 0 1000 0 0 0 4750 0 0 0 159131 0 0 0 Form 990, Part VI, Section B, line 11b SCHOOL IS AUDITED BY INDEPENDENT CPA FIRM. AFTER AUDIT, CPA FIRM USES AUDITED INFORMATION TO COMPLETE DRAFT OF 990. ONCE DRAFTED, THE 990 IS CIRCULATED TO HEAD OF SCHOOL, ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS, FINANCE COMMITTEE, AND EXECUTIVE COMMITTEE. ONCE APPROVED, THE 990 IS EFILED. Form 990, Part VI, Section B, line 12c BOARD MEMBERS AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE CONFLICTS ANNUALLY. WHEN CONFLICTS ARISE, THE INDIVIDUAL WITH THE CONFLICT IS ASKED TO LEAVE THE ROOM, AND REQUIRED NOT TO VOTE ON ANY RELATED ITEM. Form 990, Part VI, Section B, line 15 THE BOARD HAS A COMMITTEE CALLED THE HEAD OF SCHOOL COMPENSATION AND EVALUATION COMMITTEE. THIS COMMITTEE RESEARCHES COMPARABLE DATA FROM OTHER PRIVATE SCHOOLS, MARKET CONDITIONS, AND EMPLOYEE PERFORMANCE. THEN THIS COMMITTEE RECOMMENDS PAY RATE AND BENEFITS FOR THE HEAD OF SCHOOL. THE BOARD HAS AUTHORITY TO APPROVE. ONCE APPROVED THE HEAD OF SCHOOL'S COMPENSATION IS CONTAINED IN A WRITTEN AGREEMENT. THE TOTAL SALARY BUDGET IS APPROVED BY THE BOARD OF TRUSTEES IN THE BUDGETING PROCESS. INDIVIDUAL EMPLOYEE SALARIES ARE NEGOTIATED BY THE HEAD OF SCHOOL USING SOUTHEASTERN INDEPENDENT SCHOOL BENCHMARK DATA. Form 990, Part VI, Section C, line 19 AVAILABLE UPON REQUEST.