NORTHEAST ACADEMY FOR AEROSPACE AND ADVANCED TECHNOLOGIES

EIN: 464978300 501(c)(3) Education

ELIZABETH CITY, NC

Total Revenue
$9,711,636
Total Expenses
$9,868,275
Total Assets
$21,260,722
Net Assets
$1,044,342
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
NC
Principal Officer
DR JOSEPH PEEL
Phone
2525620653
Tax Period
2024-07-01 to 2025-06-30

NORTHEAST ACADEMY FOR AEROSPACE AND ADVANCED TECHNOLOGIES, founded in 2015, is a community nonprofit in the Education sector that reported $9.7M in total revenue in fiscal year 2024.

Mission

THE NORTHWEST ACADEMY OF AEROSPACE AND ADVANCED TECHNOLOGIES (NEAAAT) IS A WORLD-CLASS, INNOVATIVE STEM SCHOOL THAT INSPIRES AND PREPARES STUDENTS WITH THE SKILLS, KNOWLEDGE, AND ATTITUDES NEEDED TO PURSUE HIGH-DEMAND JOBS AND CAREERS OF THE FUTURE.

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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 $9,362,937
Program Service Revenue $121,738
Investment Income $87,593
Other Revenue $139,368
TOTAL REVENUE $9,711,636

Expense Breakdown

Grants Paid $0
Salaries & Benefits $6,959,967
Fundraising Expenses $0
Program Expenses $7,734,835
Other Expenses $2,908,308
TOTAL EXPENSES $9,868,275

Year-over-Year Comparison

2024 2023 Change
Revenue $9,711,636 $9,409,696 +0.0%
Expenses $9,868,275 $9,605,338 +0.0%
Net Income $-156,639 $-195,642 -0.2%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
98
Volunteers
8

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
2
$0
Total Directors
8
$0
Key Employees
1
$175,518
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR JOSEPH PEEL BOARD CHAIR 2.00
Officer Director
$0 $0 $0
MR JEFF DIXON BOARD VICE CHAIR 2.00
Officer Director
$0 $0 $0
MS ANGIE WILLS ECSU REPRESENTATIVE 2.00
Director
$0 $0 $0
MR EDWARD EDDIE O'NEAL MEMBER 2.00
Director
$0 $0 $0
DR J ANTHONY SHARP MEMBER 2.00
Director
$0 $0 $0
MARCUS JONES III MEMBER 2.00
Director
$0 $0 $0
REV FONDELLA LEIGH MEMBER 2.00
Director
$0 $0 $0
KASSANDRA HUNTER COAST GUARD REPRESENTATIVE 2.00
Director
$0 $0 $0
ANDREW HARRIS CEO 40.00
Key Emp
$175,518 $0 $175,518
TJ WORRELL PRINCIPAL 40.00
Highest
$131,284 $0 $131,284
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 $9,711,636 $9,868,275 $21,260,722 $-156,639
2024 $9,409,696 $9,605,338 $17,592,574 $-195,642
2023 $9,027,075 $8,816,943 $17,324,042 $210,132
2022 $7,966,695 $8,008,540 $15,141,635 $-41,845
2021 $8,234,299 $7,036,239 $14,668,178 $1,198,060
2020 $5,892,063 $5,711,548 $11,619,893 $180,515
2019 $4,136,185 $4,262,207 $4,485,239 $-126,022
2018 $3,253,895 $3,500,453 $3,387,414 $-246,558
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