Nonprofit · EIN 81-3748488
WAKE PREPARATORY ACADEMY
Tax-exempt · WAKE FOREST, NC 27587
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $30,649,526 | $30,653,614 | -$4,088 | $41,434,344 | $42,675,404 | -$1,241,060 |
| June 30, 2024 | 990 | $25,537,660 | $24,954,907 | $582,753 | $43,456,530 | $44,693,502 | -$1,236,972 |
| June 30, 2023 | 990 | $18,153,112 | $19,972,837 | -$1,819,725 | $45,359,098 | $47,178,823 | -$1,819,725 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $839,565
- of which government grants
- $786,498
- Program service revenue
- $29,809,961
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $12,197,893
- Salaries, compensation and benefits (total)
- $13,948,001
- Professional fundraising fees
- $0
- Legal fees
- $45,697
- Accounting fees
- $8,101
- Occupancy
- $2,769,773
- Depreciation
- $2,518,728
- Program services (functional)
- $18,809,730
- Management and general (functional)
- $11,843,884
Balance sheet and other
- Total assets, start of year
- $43,456,530
- Total assets, end of year
- $41,434,344
- Total liabilities, end of year
- $42,675,404
- Net assets, end of year
- -$1,241,060
- Land, buildings and equipment
- $40,052,396
- Net assets without donor restrictions
- -$1,241,060
- Gross receipts
- $30,649,526
- Employees
- 313
- Year formed
- 2022
- 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 |
|---|---|---|---|
| Kyle Shrauger | President Trustee or director, Officer | 2 | $0 |
| Michael Featham | Vice President Trustee or director, Officer | 2 | $0 |
| Tammy Alexander | Treasurer Trustee or director, Officer | 2 | $0 |
| Dustin Baptiste | Secretary Trustee or director, Officer | 2 | $0 |
| Valeska Lipani-Garrett | Board Member Trustee or director | 1 | $0 |
| Rev Dr William Seaman | Board Member Trustee or director | 1 | $0 |
| Rev Larry Wilder | Board Member Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kyle Shrauger | President Trustee or director, Officer | 2 | $0 |
| Michael Featham | Secretary Trustee or director, Officer | 2 | $0 |
| Tammy Alexander | Treasurer Trustee or director, Officer | 2 | $0 |
| Dustin Baptiste | Director Trustee or director, Officer | 2 | $0 |
| Valeska Lipani-Garrett | Director Trustee or director | 1 | $0 |
| Rev Dr William Seaman | Vice President Trustee or director, Officer | 1 | $0 |
| Rev Larry Wilder | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kyle Shrauger | President Trustee or director, Officer | 2 | $0 |
| Michael Featham | Vice President Trustee or director, Officer | 2 | $0 |
| Tammy Alexander | Treasurer Trustee or director, Officer | 2 | $0 |
| Dustin Baptiste | Secretary Trustee or director, Officer | 2 | $0 |
| Valeska Lipani-Garrett | Board Member Trustee or director | 1 | $0 |
| Rev Dr William Seaman | Board Member Trustee or director | 1 | $0 |
| Rev Larry Wilder | Board Member Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 14111 CAPITAL BLVD, WAKE FOREST, NC 27587-9950
- In care of
- % W CORWIN
- Mailing address (990-N for 2020)
- 14111 Capital Blvd, Wake Forest NC 27587
- Principal officer (990 for 2024)
- W Corwin, 14111 Capital BLVD, Wake Forest, NC 27587
- Principal officer (990-N for 2020)
- Hilda Parler, 14111 Capital Blvd, Wake Forest NC 27587
- Signed the 990
- W Corwin, Chair
- Website
- wakeprep.org
- Return prepared by
- Rebekah Barr CPA PC
Mission
Operation of a North Carolina public charter school
Program accomplishments
- Operation of a charter school serving approximately 2,618 students for the fiscal year ended June 30, 2025.Expenses $18,809,730
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
- 81-3748488
- 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
- 2020
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B29)
- Assets (IRS master file)
- $41,434,344
- Income (IRS master file)
- $30,649,526
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $30,649,526 | $30,653,614 | $41,434,344 | XML |
| 990 | June 2024 | $25,537,660 | $24,954,907 | $43,456,530 | XML |
| 990 | June 2023 | $18,153,112 | $19,972,837 | $45,359,098 | XML |
| 990-N for 2020 Officer: Hilda Parler | June 30, 2021 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2019 Officer: Mitchell Schwab | June 30, 2020 | ≤ $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 81-3748488).
Questions about WAKE PREPARATORY ACADEMY
- What is the EIN of WAKE PREPARATORY ACADEMY?
- The employer identification number (EIN) of WAKE PREPARATORY ACADEMY is 81-3748488.
- Is WAKE PREPARATORY ACADEMY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to WAKE PREPARATORY ACADEMY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WAKE PREPARATORY 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 WAKE PREPARATORY 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 WAKE PREPARATORY 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 WAKE PREPARATORY ACADEMY?
- The 990 for the year ended June 30, 2025 names W Corwin.
- Who are the officers and directors of WAKE PREPARATORY ACADEMY?
- The 990 for the year ended June 30, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does WAKE PREPARATORY ACADEMY have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $30,649,526, expenses of $30,653,614 and total assets of $41,434,344 at year end.
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