Nonprofit · EIN 56-1934619
CARY ACADEMY
Tax-exempt · CARY, NC 27513
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $33,639,824 | $32,281,763 | $1,358,061 | $97,813,712 | $3,168,373 | $94,645,339 |
| June 30, 2024 | 990 | $30,536,938 | $29,307,019 | $1,229,919 | $97,237,792 | $4,926,593 | $92,311,199 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $3,294,181
- Program service revenue
- $27,345,735
- Investment income
- $3,010,818
- Net gain from sales of assets
- $1,502,245
- Net income from fundraising events
- -$54,731
- Net income from gaming
- $1,175
- Other revenue
- -$10,910
Expenses
- Grants and similar amounts paid
- $2,588,874
- Compensation of officers, directors and key employees
- $1,111,333
- Other salaries and wages
- $14,197,831
- Salaries, compensation and benefits (total)
- $19,723,014
- Professional fundraising fees
- $0
- Legal fees
- $16,000
- Accounting fees
- $32,844
- Occupancy
- $1,400,779
- Travel
- $170,981
- Depreciation
- $3,783,936
- Program services (functional)
- $26,939,553
- Management and general (functional)
- $5,144,276
- Fundraising (functional)
- $197,934
Balance sheet and other
- Total assets, start of year
- $97,237,792
- Total assets, end of year
- $97,813,712
- Total liabilities, end of year
- $3,168,373
- Net assets, end of year
- $94,645,339
- Land, buildings and equipment
- $38,384,017
- Publicly traded securities
- $56,770,061
- Net assets without donor restrictions
- $48,616,364
- Net assets with donor restrictions
- $46,028,975
- Gross receipts
- $55,191,891
- Employees
- 280
- Volunteers
- 715
- Year formed
- 1995
- State of legal domicile
- NC
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 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL EHRHARDT | HEAD OF SCHOOL Officer | 40 | $508,756 | $49,506 |
| DEBORAH REICHEL | CHIEF FINANCIAL OFFICER Officer | 40 | $311,210 | $32,510 |
| MARIE SPELL | CONTROLLER Highest-paid employee | 40 | $165,979 | $43,560 |
| HEATHER CLARKSON | DIRECTOR OF ENROLLMENT MAN Highest-paid employee | 40 | $166,346 | $34,918 |
| ALISON PAGE | DIRECTOR OF DEVELOPMENT Highest-paid employee | 40 | $185,687 | $14,709 |
| DMITRY MANAKHOV | DIRECTOR OF INFORMATION SV Highest-paid employee | 40 | $160,472 | $23,123 |
| JOSETTE HUNTRESS | MIDDLE SCHOOL HEAD Highest-paid employee | 40 | $164,885 | $9,531 |
| JEREMY ALLEN | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| ELBERT AVERY | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| TRUDE BATE | PRESIDENT Trustee or director, Officer | 1.25 | $0 | $0 |
| FRANK BRICIO | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| WALTER DAVENPORT | SECRETARY Trustee or director, Officer | 1.25 | $0 | $0 |
| JOAN DAVIS | VICE PRESIDENT Trustee or director, Officer | 1.25 | $0 | $0 |
| MARCIE COHEN FERRIS | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| ANN B GOODNIGHT | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
14 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DR JAMES H GOODNIGHT | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| MANJU KARKARE | PAST CHAIR Trustee or director | 1.25 | $0 |
| GLENN KLEIMAN | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| ERIC LABER | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| VIBHAV NANDAGIRI | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| KEYURI PATEL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| ALETA PAYNE | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| ASHLEY PERKINSON | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| JULIAN W RAWL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| CARL RYDEN | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| VIRGINIA B SALL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| JOHN P SALL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| ALEX UDELL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
| MONICA UDELL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 |
990 for the year ended June 30, 2024: 31 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MICHAEL EHRHARDT | PRESIDENT & HEAD OF SCHOOL Officer | 40 | $485,351 | $53,326 |
| DEBORAH REICHEL | CHIEF FINANCIAL OFFICER Officer | 40 | $296,516 | $30,597 |
| ALISON PAGE | DIRECTOR OF DEVELOPMENT Officer | 40 | $175,954 | $14,075 |
| MARIE SPELL | CONTROLLER Highest-paid employee | 40 | $147,185 | $41,240 |
| HEATHER CLARKSON | DIRECTOR OF ENROLLMENT MAN Highest-paid employee | 40 | $148,279 | $36,813 |
| ROBIN FOLLET | HEAD OF UPPER SCHOOL Highest-paid employee | 40 | $152,579 | $31,946 |
| DMITRY MANAKHOV | DIRECTOR OF INFORMATION SV Highest-paid employee | 40 | $150,053 | $21,953 |
| JOSETTE HUNTRESS | MIDDLE SCHOOL HEAD Highest-paid employee | 40 | $149,155 | $15,101 |
| JEREMY ALLEN | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| ELBERT AVERY | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| TRUDE BATE | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| FRANK BRICIO | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| MIKE CURRAN | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| WALTER DAVENPORT | SECRETARY Trustee or director, Officer | 1.25 | $0 | $0 |
| DANA DAVIS | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| JOAN DAVIS | VICE PRESIDENT Trustee or director, Officer | 1.25 | $0 | $0 |
| MARCIE COHEN FERRIS | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| ANN B GOODNIGHT | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| DR JAMES H GOODNIGHT | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| MANJU KARKARE | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| GLENN KLEIMAN | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| ERIC LABER | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| VIBHAV NANDAGIRI | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| ALETA PAYNE | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| ASHLEY PERKINSON | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| JULIAN W RAWL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| CARL RYDEN | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| VIRGINIA B SALL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| JOHN P SALL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| ALEX UDELL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
| MONICA UDELL | MEMBER, BOARD OF DIRECTORS Trustee or director | 1.25 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1500 N HARRISON AVE, CARY, NC 27513-5549
- In care of
- % CHIEF FINANCIAL OFFICER
- Principal officer (990 for 2024)
- MICHAEL EHRHARDT, 1500 N HARRISON AVENUE, CARY, NC 27513
- Signed the 990
- MICHAEL EHRHARDT, PRESIDENT
- Phone
- (919) 677-3873
- Website
- WWW.CARYACADEMY.ORG
- Return prepared by
- BATCHELOR TILLERY & ROBERTS LLP
Mission
CARY ACADEMY IS A COEDUCATIONAL DAY SCHOOL THAT PROVIDES AN INDEPENDENT SCHOOL EDUCATION FOR STUDENTS IN GRADES SIX THROUGH TWELVE.
Program accomplishments
- DURING THE 2024-2025 SCHOOL YEAR, CARY ACADEMY HAD 795 STUDENTS ENROLLED IN GRADES SIX THROUGH TWELVE. THE SCHOOL ALSO CONTINUED ITS RECRUITMENT AND ADMISSION OF STUDENTS.Expenses $26,939,553 · grants $2,588,874 · revenue $27,388,381
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 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1934619
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1996
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B250)
- Assets (IRS master file)
- $97,813,712
- Income (IRS master file)
- $55,191,891
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $33,639,824 | $32,281,763 | $97,813,712 | IRS |
| 990 | June 2024 | $30,536,938 | $29,307,019 | $97,237,792 | IRS |
| 990 | June 2023 | $28,958,447 | $28,446,572 | $90,856,192 | IRS |
| 990 | June 2022 | $28,768,362 | $26,746,569 | $87,453,484 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.
Questions about CARY ACADEMY
- What is the EIN of CARY ACADEMY?
- The employer identification number (EIN) of CARY ACADEMY is 56-1934619.
- Is CARY ACADEMY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1996.
- Are donations to CARY ACADEMY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CARY ACADEMY 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 CARY ACADEMY due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CARY ACADEMY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of CARY ACADEMY?
- The 990 for the year ended June 30, 2025 names MICHAEL EHRHARDT.
- Who are the officers and directors of CARY ACADEMY?
- The 990 for the year ended June 30, 2025 lists 29 people; 7 received compensation from the organization, the highest $508,756 (MICHAEL EHRHARDT, HEAD OF SCHOOL).
- How much revenue does CARY ACADEMY have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $33,639,824, expenses of $32,281,763 and total assets of $97,813,712 at year end.
Other nonprofits in CARY
- TRIANGLE CHARTER EDUCATION ASSOCIATION INC EIN 90-1031905 · last filed 990 for 2025
- CARY CHRISTIAN SCHOOL INC EIN 56-1894697 · last filed 990 for 2025
- JAMES B HUNT JR INSTITUTE FOR EDUCATIONAL LEADERSHIP AND POLICY EIN 80-0025367 · last filed 990 for 2025
- FORUM OF INCIDENT RESPONSE AND SECURITY TEAMS EIN 38-3943584 · last filed 990 for 2025
- SHEPHERDS THEOLOGICAL SEMINARY INC EIN 20-0180768 · last filed 990 for 2025
- PUBLIC SCHOOL FORUM OF NORTH CAROLINA INC EIN 58-1654064 · last filed 990 for 2025
- LUCY DANIELS CENTER FOR EARLY CHILDHOOD EIN 58-1863104 · last filed 990 for 2025
- THE MARIPOSA SCHOOL EIN 91-2103623 · last filed 990 for 2025