Philips Academy Of North Carolina Inc
Philips Academy Of North Carolina Inc shows strong revenue growth and asset accumulation with no reported officer compensation.
EIN: 203125525 · Charlotte, NC · NTEE: B250 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.8M |
| Total Expenses | $2.0M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $3.6 |
| Net Assets | $5.6M |
| Transparency Score | 90/100 |
Is Philips Academy Of North Carolina Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Philips Academy Of North Carolina Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Philips Academy Of North Carolina Inc
Philips Academy Of North Carolina Inc (EIN: 203125525) is a nonprofit organization based in Charlotte, NC, classified under NTEE code B250. The organization reported total revenue of $2.8M and total assets of $7.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Philips Academy Of North Carolina Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Philips Academy Of North Carolina Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 16.5%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.7M |
| Total Expenses | $2.0M |
| Surplus / Deficit | +$1.7M |
| Total Assets | $6.8M |
| Total Liabilities | $1.2M |
| Net Assets | $5.6M |
| Operating Margin | 45.3% |
| Debt-to-Asset Ratio | 17.9% |
| Months of Reserves | 40.6 months |
Financial Health Grade: A
In 2024, Philips Academy Of North Carolina Inc reported a surplus of $1.7M with revenue exceeding expenses, holds 40.6 months of operating reserves (strong position), has a debt-to-asset ratio of 17.9% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Philips Academy Of North Carolina Inc's revenue has grown at a compound annual growth rate (CAGR) of 16.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +102.7% | +17.5% | +34.1% |
| 2023 | -26.6% | +14.4% | +26.6% |
| 2022 | +43.7% | +19.4% | +26.6% |
| 2021 | +40.2% | +2.7% | +14.9% |
| 2020 | -22.3% | +23.3% | +5.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Philips Academy Of North Carolina Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Philips Academy Of North Carolina Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.7M, with revenue exceeding expenses.
- Debt-to-asset ratio: 17.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization with revenues reaching $3.6 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Philips Academy Of North Carolina Inc's IRS 990 filings:
- Lack of detailed functional expense breakdown in provided summary data, making precise program efficiency analysis difficult without full 990 forms.
Strengths
The following positive indicators were identified for Philips Academy Of North Carolina Inc:
- Consistent and significant revenue growth, from $681,060 in 201506 to $3,665,074 in 202406.
- Substantial asset accumulation, increasing from $561,027 in 201506 to $6,775,969 in 202406.
- Zero reported officer compensation across all 13 filings, indicating a strong commitment to directing funds towards the mission.
- Expenses consistently well below revenue in recent periods (e.g., $2,003,193 expenses vs. $3,665,074 revenue in 202406), demonstrating efficient financial management.
- Consistent filing of IRS Form 990s over 13 periods, indicating strong transparency and compliance.
Frequently Asked Questions about Philips Academy Of North Carolina Inc
Is Philips Academy Of North Carolina Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Philips Academy Of North Carolina Inc (EIN: 203125525) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Philips Academy Of North Carolina Inc spend its money?
Philips Academy Of North Carolina Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Philips Academy Of North Carolina Inc tax-deductible?
Philips Academy Of North Carolina Inc is registered as a tax-exempt nonprofit (EIN: 203125525). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Philips Academy Of North Carolina Inc CEO make?
Philips Academy Of North Carolina Inc's highest-compensated officer earns $3.6 annually. The organization reported $2.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Philips Academy Of North Carolina Inc's spending goes to programs?
Philips Academy Of North Carolina Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Philips Academy Of North Carolina Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Philips Academy Of North Carolina Inc is above average for NTEE category B250 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Philips Academy Of North Carolina Inc located?
Philips Academy Of North Carolina Inc is headquartered in Charlotte, North Carolina and files with the IRS under EIN 203125525. It is classified under NTEE code B250.
How many years of IRS 990 filings does Philips Academy Of North Carolina Inc have?
Philips Academy Of North Carolina Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.8M in total revenue.
Is Philips Academy Of North Carolina Inc a good charity?
Based on the available financial data, Philips Academy Of North Carolina Inc appears to be a very good charity. It demonstrates strong financial health with consistent revenue growth (e.g., $3,665,074 in 202406), significant asset accumulation ($6,775,969 in 202406), and a remarkable commitment to its mission by reporting 0% officer compensation across all filings.
How has the organization's financial health changed over time?
The organization's financial health has significantly improved over time. Revenue has grown from $681,060 in 201506 to $3,665,074 in 202406, and assets have increased from $561,027 to $6,775,969 over the same period, indicating robust growth and financial stability.
What is the organization's approach to executive compensation?
Philips Academy Of North Carolina Inc reports 0% officer compensation in all available filings, suggesting that its leadership either volunteers their time or is compensated through other means not reported as officer compensation on the 990, which is a strong indicator of mission-first resource allocation.
Filing History
IRS 990 filing history for Philips Academy Of North Carolina Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Philips Academy Of North Carolina Inc's revenue has grown by 522.2%, moving from $589K to $3.7M. Total assets increased by 2669.5% over the same period, from $245K to $6.8M. Total functional expenses rose by 278.5%, from $529K to $2.0M. In its most recent filing year (2024), Philips Academy Of North Carolina Inc reported a surplus of $1.7M, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $6.8M in assets (debt-to-asset ratio: 17.9%), resulting in net assets of $5.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $3.7M | $2.0M | $6.8M | $1.2M | — | View 990 |
| 2023 | $1.8M | $1.7M | $5.1M | $1.2M | — | View 990 |
| 2022 | $2.5M | $1.5M | $4.0M | $125K | — | View 990 |
| 2021 | $1.7M | $1.2M | $3.2M | $170K | — | — |
| 2020 | $1.2M | $1.2M | $2.7M | $238K | — | View 990 |
| 2019 | $1.6M | $985K | $2.6M | $119K | — | View 990 |
| 2018 | $1.9M | $789K | $2.1M | $167K | — | View 990 |
| 2017 | $919K | $781K | $968K | $207K | — | View 990 |
| 2016 | $785K | $651K | $860K | $237K | — | View 990 |
| 2015 | $681K | $587K | $561K | $197K | — | View 990 |
| 2014 | $671K | $567K | $497K | $227K | — | View 990 |
| 2013 | $571K | $514K | $327K | $161K | — | View 990 |
| 2012 | $589K | $529K | $245K | $136K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $3.7M, expenses of $2.0M, and assets of $6.8M (revenue +102.7% year-over-year).
- 2023: Revenue of $1.8M, expenses of $1.7M, and assets of $5.1M (revenue -26.6% year-over-year).
- 2022: Revenue of $2.5M, expenses of $1.5M, and assets of $4.0M (revenue +43.7% year-over-year).
- 2021: Revenue of $1.7M, expenses of $1.2M, and assets of $3.2M (revenue +40.2% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.2M, and assets of $2.7M (revenue -22.3% year-over-year).
- 2019: Revenue of $1.6M, expenses of $985K, and assets of $2.6M (revenue -18.4% year-over-year).
- 2018: Revenue of $1.9M, expenses of $789K, and assets of $2.1M (revenue +110.0% year-over-year).
- 2017: Revenue of $919K, expenses of $781K, and assets of $968K (revenue +17.0% year-over-year).
- 2016: Revenue of $785K, expenses of $651K, and assets of $860K (revenue +15.3% year-over-year).
- 2015: Revenue of $681K, expenses of $587K, and assets of $561K (revenue +1.4% year-over-year).
- 2014: Revenue of $671K, expenses of $567K, and assets of $497K (revenue +17.6% year-over-year).
- 2013: Revenue of $571K, expenses of $514K, and assets of $327K (revenue -3.1% year-over-year).
- 2012: Revenue of $589K, expenses of $529K, and assets of $245K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Philips Academy Of North Carolina Inc:
Data Sources and Methodology
This transparency report for Philips Academy Of North Carolina Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.