Nonprofit · EIN 42-1574401
ACADEMY OF FINANCE OF WAKE COUNTY INC
Tax-exempt (reinstated) · RALEIGH, NC 27609
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2026 | 990-EZ | $48,179 | $44,372 | $3,807 | $21,121 | – | $21,121 |
| June 30, 2025 | 990-EZ | $47,540 | $40,486 | $7,054 | $17,314 | $0 | $17,314 |
Financial details: 990-EZ for the year ended June 30, 2026
Revenue
- Contributions, gifts and grants
- $18,057
- Program service revenue
- $0
- Investment income
- $0
- Net income from fundraising events
- $30,122
Expenses
- Grants and similar amounts paid
- $39,412
- Compensation of officers, directors and key employees
- $0
- Printing, publications and postage
- $4,960
- Program services (functional)
- $39,412
Balance sheet and other
- Total assets, start of year
- $17,314
- Total assets, end of year
- $21,121
- Total liabilities, end of year
- –
- Net assets, end of year
- $21,121
- Cash, savings and investments
- $21,121
- Gross receipts
- $76,214
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended June 30, 2026, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Chad Collins | Academy Director | 40 | $0 |
| Brandon Brake | Advisor Board Member | 1 | $0 |
| Robert Nelson | Advisory Board Member | 1 | $0 |
| Tara Drouhard | Sanderson High School Principal | 2 | $0 |
990-EZ for the year ended June 30, 2025: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Chad Collins | Academy Director | 40 | $0 |
| Brandon Brake | Advisor Board Member | 1 | $0 |
| Robert Nelson | Advisory Board Member | 1 | $0 |
| Tara Drouhard | Sanderson High School Principal | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 5500 DIXON DR, RALEIGH, NC 27609-4202
- In care of
- % CHAD COLLINS
- Mailing address (990-N for 2019)
- 5500 Dixon Drive, Raleigh NC 27609
- Principal officer (990-N for 2019)
- Chad Collins, 5500 Dixon Drive, Raleigh NC 27609
- Signed the 990-EZ
- Chad Collins, Academy of Finance Director
Mission
Educational
Program accomplishments
- The organization allocated funds to subsidize educational trips for the classes of 2026 and 2027. Specifically financial support was provided for trips to New York for the class of 2026 Washington DC for the class of 2027 and an etiquette meal for the classes of 2028 and 2029. These subsidies aimed to enhance the students learning experiences by offering them the opportunity to explore cultural and historical sites relevant to their academic curriculum. The etiquette meal also enhanced professional development and career readiness.Expenses $30,872
- Class of 2026 senior scholarships 2 awarded at 1000 each and one at 500; Class of 2026 senior banquet 5033Expenses $7,533
- Lunch for students that attend professional development sessions multiple each month at school.Expenses $1,007
- None
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | 990-EZ on file |
| 2024 | June 30, 2025 | November 17, 2025 | 990-EZ on file |
| 2023 | June 30, 2024 | November 15, 2024 | Check at the IRS |
IRS record
- EIN
- 42-1574401
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2024
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B11)
- Assets (IRS master file)
- $21,121
- Income (IRS master file)
- $76,214
Revocation and reinstatement
- Exemption revoked
- November 15, 2023
- Posted by the IRS
- March 11, 2024
- Reinstated
- Effective November 15, 2023
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | June 2026 | $48,179 | $44,372 | $21,121 | XML |
| 990-EZ | June 2025 | $47,540 | $40,486 | $17,314 | XML |
| 990-N for 2019 Officer: Chad Collins | June 30, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2018 Officer: Chad Collins | June 30, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-1574401).
Questions about ACADEMY OF FINANCE OF WAKE COUNTY INC
- What is the EIN of ACADEMY OF FINANCE OF WAKE COUNTY INC?
- The employer identification number (EIN) of ACADEMY OF FINANCE OF WAKE COUNTY INC is 42-1574401.
- Is ACADEMY OF FINANCE OF WAKE COUNTY INC tax-exempt?
- Yes. The IRS revoked its exemption on November 15, 2023 and reinstated it effective November 15, 2023.
- Are donations to ACADEMY OF FINANCE OF WAKE COUNTY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ACADEMY OF FINANCE OF WAKE COUNTY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ACADEMY OF FINANCE OF WAKE COUNTY INC due?
- The return for tax year 2026 (the year ending June 30, 2027) is due November 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ACADEMY OF FINANCE OF WAKE COUNTY INC last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended June 2026.
- Who is the principal officer of ACADEMY OF FINANCE OF WAKE COUNTY INC?
- The 990-N for 2019 names Chad Collins.
- Who are the officers and directors of ACADEMY OF FINANCE OF WAKE COUNTY INC?
- The 990-EZ for the year ended June 30, 2026 lists 4 people; 0 received compensation from the organization.
- How much revenue does ACADEMY OF FINANCE OF WAKE COUNTY INC have?
- On its 990-EZ for the year ended June 30, 2026 it reported revenue of $48,179, expenses of $44,372 and total assets of $21,121 at year end.
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