GATE CITY CHARTER ACADEMY INC

EIN: 464192980 501(c)(3) Education

GREENSBORO, NC

Total Revenue
$9,178,518
Total Expenses
$9,139,984
Total Assets
$1,923,077
Net Assets
$204,338
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
NC
Phone
6162221700
Tax Period
2024-07-01 to 2025-06-30

GATE CITY CHARTER ACADEMY INC, founded in 2016, is a community nonprofit in the Education sector that reported $9.2M in total revenue in fiscal year 2024.

Mission

TO OPERATE A PUBLIC CHARTER SCHOOL AND TO PROVIDE EDUCATION TO CHILDREN GRADES KINDERGARTEN THROUGH EIGHTH GRADE BASED ON RIGOROUS TEACHING METHODS, PARENTAL INVOLVEMENT, STUDENT RESPONSIBILITY, AND BASIC MORAL VALUES. ENROLLMENT IS OPEN TO ALL APPROPRIATELY AGED CHILDREN WITHOUT REGARD TO GENDER, ETHNIC BACKGROUND, DISABILITY, AND/OR RELIGIOUS AFFILIATION.

Program Service Accomplishments

Program 1
Expenses: $7,177,682 Revenue: $75,917

OPERATED AN EDUCATIONAL INSTITUTION ORGANIZED AS A PUBLIC SCHOOL ACADEMY. THE ACADEMY PROVIDES EDUCATION, AT NO COST TO THE PARENT, TO STUDENTS IN KINDERGARTEN THROUGH SEVENTH GRADE. THE ACADEMY...

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OPERATED AN EDUCATIONAL INSTITUTION ORGANIZED AS A PUBLIC SCHOOL ACADEMY. THE ACADEMY PROVIDES EDUCATION, AT NO COST TO THE PARENT, TO STUDENTS IN KINDERGARTEN THROUGH SEVENTH GRADE. THE ACADEMY OPERATES UNDER A CHARTER APPROVED BY THE NORTH CAROLINA STATE BOARD OF EDUCATION.

Program 2
Expenses: $454,050

OPERATED A SCHOOL FOOD SERVICE PROGRAM AT THE PUBLIC SCHOOL ACADEMY DESCRIBED ABOVE. THE ACADEMY OFFERS FREE OR REDUCED LUNCH FOR FAMILIES THAT QUALIFY. FUNDING FOR THIS PROGRAM WAS PROVIDED BY THE...

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OPERATED A SCHOOL FOOD SERVICE PROGRAM AT THE PUBLIC SCHOOL ACADEMY DESCRIBED ABOVE. THE ACADEMY OFFERS FREE OR REDUCED LUNCH FOR FAMILIES THAT QUALIFY. FUNDING FOR THIS PROGRAM WAS PROVIDED BY THE USDA FOOD AND NUTRITION SERVICE, IN THE AMOUNT OF $489,977.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $9,102,601
Program Service Revenue $40,917
Investment Income $0
Other Revenue $35,000
TOTAL REVENUE $9,178,518

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,212,684
Fundraising Expenses $0
Program Expenses $7,631,732
Other Expenses $4,927,300
TOTAL EXPENSES $9,139,984

Year-over-Year Comparison

2024 2023 Change
Revenue $9,178,518 $8,798,424 +0.0%
Expenses $9,139,984 $8,758,477 +0.0%
Net Income $38,534 $39,947 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
N/A
Volunteers
278

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRENTON BOYCE TREASURER/SECRETARY 1.0
Officer Director
$0 $0 $0
INDIRA ROBERTS VICE PRESIDENT 1.0
Officer Director
$0 $0 $0
JEFF PHILLIPS PRESIDENT 1.0
Officer Director
$0 $0 $0
ASHLEY WILEY-LEWIS DIRECTOR 1.0
Director
$0 $0 $0
CYNDY HAYWORTH DIRECTOR 1.0
Director
$0 $0 $0
STEPHANIE LAWSON DIRECTOR 1.0
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $9,178,518 $9,139,984 $1,923,077 $38,534
2024 $8,798,424 $8,758,477 $1,614,080 $39,947
2023 $8,406,312 $8,391,680 $1,346,567 $14,632
2022 $7,888,827 $7,806,524 $1,252,521 $82,303
2021 $7,517,008 $7,521,977 $1,081,786 $-4,969
2020 $6,601,806 $6,587,252 $459,705 $14,554
2019 $6,463,681 $6,464,225 $471,204 $-544
2018 $5,482,330 $5,474,890 $66,034 $7,440
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