2025-06-04T13:46:34-05:00 2024-06-30 844233121 SHARPE PATEL CPA 5510 SIX FORKS ROAD SUITE 140 RALEIGH NC 27609 990 2023-07-01 455348770 NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION INC NORT 7049108499 154 FOUNDATION CT MOORESVILLE NC 28117 JAMES FONSECA PRESIDENT 7049108499 2025-05-13 1 1 REBECCA FISHER P01690017 7044993893 2025-05-13 2023 2025-03-06 01:10:19Z X JAMES FONSECA 154 FOUNDATION CT MOORESVILLE NC 28117 46329201 0 X HTTPS://WWW.LANGTREECHARTER.ORG/ X 2012 NC NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION IS A NORTH CAROLINA NOT-FOR-PROFIT ENTITY ORGANIZED EXCLUSIVELY FOR EDUCATIONAL PURPOSES. THE FOUNDATION IS COMPRISED OF RESPECTED LEADERS IN THE STATE OF NORTH CAROLINA WHO ARE COMMITTED TO PROVIDING HIGH-QUALITY EDUCATIONAL OPTIONS FOR THE STUDENTS AND FAMILIES OF NORTH CAROLINA. 6 6 0 500 0 0 38083060 43740817 1092377 1339288 361656 602053 711328 647043 40248421 46329201 0 0 0 0 19590690 20625201 0 0 0 20380824 25066981 39971514 45692182 276907 637019 97538844 97432838 113422260 112679235 -15883416 -15246397 X NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION IS A NORTH CAROLINA NOT-FOR-PROFIT ENTITY ORGANIZED EXCLUSIVELY FOR EDUCATIONAL PURPOSES. THE FOUNDATION IS COMPRISED OF RESPECTED LEADERS IN THE STATE OF NORTH CAROLINA WHO ARE COMMITTED TO PROVIDING HIGH-QUALITY EDUCATIONAL OPTIONS FOR THE STUDENTS AND FAMILIES OF NORTH CAROLINA. 0 0 14226539 1986331 NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION OPERATED FOUR PUBLICLY FUNDED CHARTER SCHOOLS IN NORTH CAROLINA, PROVIDING EDUCATION TO APPROXIMATELY 3,578 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2024. 14226539 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 53 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 NC X CHARTER SCHOOLS USA INC 9542023500 800 CORPORATE DRIVE STE 700 FORT LAUDERDALE FL 33334 X MARTIN CONWAY PRESIDENT 2.00 X X 0 0 0 BETH COMPTON VICE PRESIDENT 2.00 X X 0 0 0 JAMES FONSECA TREASURER 2.00 X X 0 0 0 KELLY MILLIGAN SECRETARY 2.00 X X 0 0 0 DAVE EDWARDS DIRECTOR 2.00 X 0 0 0 CHAD METZLER DIRECTOR 2.00 X 0 0 0 JESSICA RAINSTEIN DIRECTOR 2.00 X 0 0 0 PRASHON LOVE DIRECTOR 2.00 X 0 0 0 0 0 0 0 0 0 0 0 40856016 2884801 43740817 FOOD SERVICE 611710 513962 513962 BEFORE AND AFTER CARE 611710 439114 439114 STUDENT ACTIVITIES 611710 386212 386212 1339288 602053 602053 11825 0 11825 11825 11825 MISCELLANEOUS 900099 454053 454053 SALES TAX 900099 181165 181165 635218 46329201 1986331 0 602053 17490202 5445681 12044521 48879 15219 33660 1964301 611597 1352704 1121819 349285 772534 1776562 553143 1223419 82084 25557 56527 47450 14774 32676 3898662 1213873 2684789 268847 83707 185140 279867 87138 192729 872851 271767 601084 2861239 890864 1970375 624929 194575 430354 281202 87554 193648 5647046 1758242 3888804 3803095 1184117 2618978 295933 92141 203792 NUTRITION SERVICES 1635571 509245 1126326 BOOKS & SUPP 1235431 384659 850772 ADMIN EXP 1060097 330068 730029 NON-CAP TECH & EQUIP. 391960 122039 269921 4155 1294 2861 45692182 14226539 31465643 0 1635621 1378227 8445715 8937158 183321 1272554 3909 337414 104793692 32302519 73703916 72491173 13566362 13016312 97538844 97432838 2413364 3003532 96266807 111008896 13408896 113422260 112679235 X -15883416 -15246397 -15883416 -15246397 97538844 97432838 637019 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 92240629 21830883 70409746 565789 345432 220357 11987274 10126204 1861070 72491173 SECURITY DEPOSIT 144634 RIGHT TO USE LEASED ASSETS, NET OF AMORTIZATION 12871678 13016312 LEASE LIABILITY 13408896 13408896 46329201 0 46329201 0 46329201 45692182 0 45692182 0 45692182 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 NC CHARTER EDUCATIONAL FOUNDATION OPERATES PUBLIC CHARTER SCHOOLS AND IS FUNDED BY THE STATE OF NORTH CAROLINA AND LOCAL GOVERNMENT. NORTH CAROLINA REQUIRES A POLICY OF NONDISCRIMINATION, AND THE SCHOOL'S NONDISCRIMINATION POLICY IS DISCLOSED IN ALL SOLICITATIONS FOR STUDENTS. SCHEDULE E, PART I, LINE 6 A NORTH CAROLINA CHARTER SCHOOL FUNDED BY STATE AND LOCAL GOVERNMENT. IT ALSO RECEIVES VARIOUS FEDERAL AND STATE GRANTS. A PUBLIC FINANCE AUTHORITY ERB SERIES 2016A 273866124 74442EBP4 2016-08-30 110470000 PROVIDE FUNDS FOR ACQUISITION, CONSTRUCTION & EQUIP, FOR SCHOOL FACILITIES 0 0 0 A 13950000 110470000 8937158 2973713 2202531 96356598 2019 0 0 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 A 0 FORM 990 AMENDED RETURN EXPLANATION: FORM 990 IS BEING AMENDED TO REPORT THE CORRECT BOARD OF DIRECTORS LISTING ON FORM 990, PAGE 7, PART VII, THE CORRECT NUMBER OF VOTING MEMBERS AND INDEPENDENT VOTING MEMBERS ON FORM 990, PAGE 6, PART VI, SECTION A, LINES 1A AND 1B, THE CORRECT WEBSITE FOR OUR ORGANIZATION ON FORM 990, PAGE 1, SECTION J, AND THE CORRECT PRINCIPAL OFFICER ON FORM 990, PAGE 1, SECTION F. THE UPDATED BOARD OF DIRECTORS LISTING REFLECTS THE ACCURATE NAMES, TITLES, AND VOTING RIGHTS FOR THE INDIVIDUALS SERVING ON THE ORGANIZATION'S BOARD DURING THE FISCAL YEAR JULY 1, 2023, TO JUNE 30, 2024. THE PREVIOUS BOARD LISTING WAS OUTDATED AND NOT ACCURATE. THE NUMBER OF VOTING MEMBERS ON FORM 990, PAGE 6, PART VI, SECTION A, LINE 1A HAS BEEN UPDATED FROM 7 TO 6, AND THE NUMBER OF INDEPENDENT VOTING MEMBERS ON LINE 1B HAS BEEN UPDATED FROM 7 TO 6. BOTH LINES NOW REFLECT THE ACCURATE NUMBERS AS OF THE END OF THE TAX YEAR. THE CORRECT WEBSITE HAS BEEN UPDATED TO ENSURE THE PUBLIC HAS ACCESS TO THE ACCURATE SITE FOR OUR ORGANIZATION, AS THE PREVIOUS WEBSITE LISTED IS INACTIVE. THE PUBLIC CAN NAVIGATE TO WWW.LANGTREECHARTER.ORG AND GO TO "SCHOOL INFO AND THEN "BOARD OF DIRECTORS" TO VIEW INFORMATION ON THE ORGANIZATION OR ACCESS IT DIRECTLY AT HTTPS://WWW.LANGTREECHARTER.ORG/APPS/CROSS.JSP?WREC_ID=4947&CROSSPATH=/A PPS/PAGES/INDEX.JSP%3FUREC_ID%3D560345%26TYPE%3DD ADDITIONALLY, THE PRINCIPAL OFFICER HAS BEEN UPDATED FROM WAYNE TURNER, WHO IS NO LONGER ON THE BOARD, TO JAMES FONSECA, THE CURRENT BOARD PRESIDENT. FORM 990, PART VI, SECTION A, LINE 3 THE FOUNDATION HAS FORMAL AGREEMENTS WITH CHARTER SCHOOLS USA TO MANAGE, STAFF, AND OPERATE THE SCHOOLS. THE AGREEMENT STATES THAT CSUSA SHALL BE ENTITLED TO COST REIMBURSEMENTS AND MANAGEMENT FEES FOR ITS SERVICES, SUBJECT TO THE AVAILABILITY OF FUNDS. THE FEE IS SUBORDINATED TO ALL BOND PAYMENT REQUIREMENTS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE BOARD FINANCE COMMITTEE AND IS PROVIDED TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED WITH THE BOARD EACH YEAR. ANY CONFLICTS, OR POTENTIAL CONFLICTS OF INTEREST, ARE REVIEWED AND RESOLVED BY THE BOARD. WRITTEN DISCLOSURES ARE REQUIRED FOR ANY POTENTIAL CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DECISIONS ARE MADE BASED ON SIMILAR PAY SCALES FOR EDUCATORS IN THE STATE OF NORTH CAROLINA AND ON EXPERIENCE. THE BOARD REVIEWS AND APPROVES ALL SALARY DECISIONS AND RECOMMENDATIONS BY MANAGEMENT. COMPENSATION OF KEY EMPLOYEES IS APPROVED BY THE BOARD OF DIRECTORS AND IS BASED ON COMPARABILITY DATA AND PERFORMANCE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, SCHOOL POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR VIEWING BY THE PUBLIC AT THE ORGANIZATION'S OFFICE UPON REQUEST WITHIN 14 DAYS, PERMITTING ACCESS.