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Nonprofit · EIN 56-2158817

CORPORATION FOR EDUCATIONAL PARTNERSHIPS

Also known as SOUTHERN WAKE ACADEMY

Tax-exempt · HOLLY SPRINGS, NC 27540

Financials

$6.8M$8.4M2022$6.3M$7.1M2023$6.5M$5.5M2024
Revenue Expenses · by fiscal year end
Financials of CORPORATION FOR EDUCATIONAL PARTNERSHIPS by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$6,513,269$5,538,586$974,683$12,748,222$19,703,472-$6,955,250
June 30, 2024990$6,288,106$7,093,240-$805,134$13,519,992$21,449,925-$7,929,933
June 30, 2023990$6,809,831$8,367,078-$1,557,247$14,939,082$22,063,881-$7,124,799
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$6,329,473
of which government grants
$6,308,746
Program service revenue
$68,996
Investment income
$834
Net rental income
$69,203
Other revenue
$113,966

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$103,096
Other salaries and wages
$2,814,063
Salaries, compensation and benefits (total)
$3,873,734
Professional fundraising fees
$0
Legal fees
$17,869
Accounting fees
$10,750
Occupancy
$170,494
Travel
$14,010
Depreciation
$265,493
Program services (functional)
$4,493,404
Management and general (functional)
$1,045,182

Balance sheet and other

Total assets, start of year
$13,519,992
Total assets, end of year
$12,748,222
Total liabilities, end of year
$19,703,472
Net assets, end of year
-$6,955,250
Land, buildings and equipment
$6,994,436
Net assets without donor restrictions
-$7,270,543
Net assets with donor restrictions
$315,293
Gross receipts
$6,513,269
Employees
103
Volunteers
10
Year formed
1999
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.

NameTitleHours / weekCompensation
DR DARRELL COTTONHEAD OF SCHOOL
Officer
40$103,096
SCOTT SCHULZEPRESIDENT
Trustee or director, Officer
1$0
ERIC RHINEHOLTVICE PRESIDENT
Trustee or director, Officer
1$0
LESLIE CARWELLSECRETARY
Trustee or director, Officer
1$0
TRICIA ENDICOTTDIRECTOR
Trustee or director
1$0
AMY FERRELLDIRECTOR
Trustee or director
1$0
MARK TROIADIRECTOR
Trustee or director
1$0
JIM MOOREDIRECTOR
Trustee or director
1$0
990 for the year ended June 30, 2024: 10 people
NameTitleHours / weekCompensation
COLE WILSONFORMER HEAD OF SCHOO
Highest-paid employee
40$107,106
DR DARRELL COTTONHEAD OF SCHOOL
Officer
40$49,366
SCOTT SCHULZEPRESIDENT
Trustee or director, Officer
1$0
ERIC RHINEHOLTVICE PRESIDENT
Trustee or director, Officer
1$0
LESLIE CARWELLSECRETARY
Trustee or director, Officer
1$0
TRICIA ENDICOTTDIRECTOR
Trustee or director
1$0
GARY LEONARDDIRECTOR
Trustee or director
1$0
AMY FERRELLDIRECTOR
Trustee or director
1$0
MARK TROIADIRECTOR
Trustee or director
1$0
JIM MOOREDIRECTOR
Trustee or director
1$0
990 for the year ended June 30, 2023: 11 people
NameTitleHours / weekCompensation
DR BRITTANY RAYFORMER HEAD
Officer
40$144,149
COLE WILSONINTERIM HEAD
Officer
40$89,695
AMY DAVISFORMER HEAD
Officer
40$10,744
TRICIA ENDICOTTDIRECTOR
Trustee or director
1$0
AMY FERRELLDIRECTOR
Trustee or director
1$0
GARY LEONARDDIRECTOR
Trustee or director
1$0
SCOTT SCHULZEDIRECTOR
Trustee or director
1$0
LESLIE CARWELLSECRETARY
Officer
1$0
DARRELL COTTONCURRENT HEAD
Officer
40$0
ERIC RHINEHOLTVICE PRESIDE
Officer
1$0
KAY SMITHPRESIDENT
Officer
1$0

Address and contacts

Address (IRS master file)
5108 OLD POWELL RD, HOLLY SPRINGS, NC 27540-9200
Principal officer (990 for 2024)
DR DARRELL COTTON, 5108 OLD POWELL ROAD, HOLLY SPRINGS, NC 27540
Signed the 990
DR DARRELL COTTON, HEAD OF SCHOOL
Phone
(919) 567-9955
Return prepared by
SHARPE PATEL CPA

Mission

OPERATION OF A PUBLIC CHARTER SCHOOL IN HOLLY SPRINGS, NC

990 for the year ended June 30, 2025

Program accomplishments

  • OPERATED A PUBLIC CHARTER SCHOOL IN HOLLY SPRINGS, NORTH CAROLINA, SERVING APPROXIMATELY 534 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025.
    Expenses $4,493,404 · revenue $182,962

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 yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
56-2158817
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
2002
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B25)
Assets (IRS master file)
$12,748,222
Income (IRS master file)
$6,513,269

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$6,513,269$5,538,586$12,748,222XML
990June 2024$6,288,106$7,093,240$13,519,992IRS
990June 2023$6,809,831$8,367,078$14,939,082XML
990June 2022$8,537,443$8,212,520$15,164,109IRS
990June 2021–––IRS
990June 2020–––IRS

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 56-2158817).

Questions about CORPORATION FOR EDUCATIONAL PARTNERSHIPS

What is the EIN of CORPORATION FOR EDUCATIONAL PARTNERSHIPS?
The employer identification number (EIN) of CORPORATION FOR EDUCATIONAL PARTNERSHIPS is 56-2158817.
Is CORPORATION FOR EDUCATIONAL PARTNERSHIPS tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
Are donations to CORPORATION FOR EDUCATIONAL PARTNERSHIPS tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does CORPORATION FOR EDUCATIONAL PARTNERSHIPS 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 CORPORATION FOR EDUCATIONAL PARTNERSHIPS 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 CORPORATION FOR EDUCATIONAL PARTNERSHIPS 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 CORPORATION FOR EDUCATIONAL PARTNERSHIPS?
The 990 for the year ended June 30, 2025 names DR DARRELL COTTON.
Who are the officers and directors of CORPORATION FOR EDUCATIONAL PARTNERSHIPS?
The 990 for the year ended June 30, 2025 lists 8 people; 1 received compensation from the organization, the highest $103,096 (DR DARRELL COTTON, HEAD OF SCHOOL).
How much revenue does CORPORATION FOR EDUCATIONAL PARTNERSHIPS have?
On its 990 for the year ended June 30, 2025 it reported revenue of $6,513,269, expenses of $5,538,586 and total assets of $12,748,222 at year end.

Other nonprofits in HOLLY SPRINGS

All nonprofits in HOLLY SPRINGS · North Carolina · Education