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CARY ACADEMY

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Public IRS 990 nonprofit record

CARY ACADEMY

EIN 56-1934619 · Education (B250)

What they do

CARY ACADEMY is A COEDUCATIONAL DAY SCHOOL THAT PROVIDES AN INDEPENDENT SCHOOL EDUCATION for STUDENTS IN GRADES SIX THROUGH TWELVE.

Before you give

Should I give to this charity?

Easy charity check
Look at where the money went

Of every $100 spent, about $83.50 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders29 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

80.08%of revenue went to mission work83.5% of expenses · Program services
0.59%of revenue went to fundraising0.6% of expenses
$95.96spent for every $100 of revenueRevenue covered expenses this year.
15.29%of revenue went to management and office costs15.9% of expenses
$3.03in assets for every $1 spent this yearSome assets cannot be spent right away.
9.8%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

  1. Who did you help? Ask for a recent story or report that shows real results.
  2. What will my money do? Ask exactly what your gift will pay for.
  3. Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $558,262 for MICHAEL EHRHARDT (HEAD OF SCHOOL). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$33,639,824
Mission workProgram services$26,939,55380.08% of revenue83.5% of expenses
ManagementOffice and general costs$5,144,27615.29% of revenue15.9% of expenses
FundraisingAsking for donations$197,9340.59% of revenue0.6% of expenses
Revenue left after expensesReported annual surplus$1,358,0614.04% of revenueShown in gray on the chart
Total expenses$32,281,76395.96% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails
2024CurrentExpense mix: 83.5% mission · 15.9% management · 0.6% fundraisingTotal expenses: 95.96% of revenue
2023Expense mix: 83.9% mission · 15.6% management · 0.5% fundraisingTotal expenses: 95.97% of revenue
2022Expense mix: 83.2% mission · 16.4% management · 0.4% fundraisingTotal expenses: 98.23% of revenue
2021Expense mix: 83.5% mission · 16.0% management · 0.5% fundraisingTotal expenses: 92.97% of revenue
2020Expense mix: 82.8% mission · 16.7% management · 0.5% fundraisingTotal expenses: 93.69% of revenue
2019Expense mix: 81.9% mission · 17.5% management · 0.6% fundraisingTotal expenses: 104.36% of revenue
2018Expense mix: 83.2% mission · 16.4% management · 0.4% fundraisingTotal expenses: 96.10% of revenue
2017Expense mix: 84.2% mission · 15.1% management · 0.7% fundraisingTotal expenses: 91.72% of revenue

Money in and money out

Revenue$33,639,824
Expenses$32,281,763
Annual surplus $1,358,061 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$26,939,553 · 83.5% of expenses
Management and office costs$5,144,276 · 15.9% of expenses
Fundraising$197,934 · 0.6% of expenses
See all reported dollar amounts
Revenue$33,639,824
Expenses$32,281,763
Assets$97,813,712
Income$55,191,891
Contributions$3,294,181
Mission work (program services)$26,939,553
Fundraising$197,934
Management and general$5,144,276
Stocks and bonds$56,770,061
Accounting fees$32,844
Investing fees$209,887
People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation
MICHAEL EHRHARDTHEAD OF SCHOOL · 40 hrs/week $558,262Base $508,756 · Other $49,506
DEBORAH REICHELCHIEF FINANCIAL OFFICER · 40 hrs/week $343,720Base $311,210 · Other $32,510
MARIE SPELLCONTROLLER · 40 hrs/week $209,539Base $165,979 · Other $43,560
HEATHER CLARKSONDIRECTOR OF ENROLLMENT MAN · 40 hrs/week $201,264Base $166,346 · Other $34,918
ALISON PAGEDIRECTOR OF DEVELOPMENT · 40 hrs/week $200,396Base $185,687 · Other $14,709
DMITRY MANAKHOVDIRECTOR OF INFORMATION SV · 40 hrs/week $183,595Base $160,472 · Other $23,123
JOSETTE HUNTRESSMIDDLE SCHOOL HEAD · 40 hrs/week $174,416Base $164,885 · Other $9,531

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (29)

MICHAEL EHRHARDTHEAD OF SCHOOL

DEBORAH REICHELCHIEF FINANCIAL OFFICER

MARIE SPELLCONTROLLER

HEATHER CLARKSONDIRECTOR OF ENROLLMENT MAN

ALISON PAGEDIRECTOR OF DEVELOPMENT

DMITRY MANAKHOVDIRECTOR OF INFORMATION SV

JOSETTE HUNTRESSMIDDLE SCHOOL HEAD

MONICA UDELLMEMBER, BOARD OF DIRECTORS

JULIAN W RAWLMEMBER, BOARD OF DIRECTORS

KEYURI PATELMEMBER, BOARD OF DIRECTORS

MANJU KARKAREPAST CHAIR

MARCIE COHEN FERRISMEMBER, BOARD OF DIRECTORS

JEREMY ALLENMEMBER, BOARD OF DIRECTORS

TRUDE BATEPRESIDENT

VIBHAV NANDAGIRIMEMBER, BOARD OF DIRECTORS

VIRGINIA B SALLMEMBER, BOARD OF DIRECTORS

WALTER DAVENPORTSECRETARY

JOHN P SALLMEMBER, BOARD OF DIRECTORS

JOAN DAVISVICE PRESIDENT

ALETA PAYNEMEMBER, BOARD OF DIRECTORS

GLENN KLEIMANMEMBER, BOARD OF DIRECTORS

FRANK BRICIOMEMBER, BOARD OF DIRECTORS

ERIC LABERMEMBER, BOARD OF DIRECTORS

ELBERT AVERYMEMBER, BOARD OF DIRECTORS

DR JAMES H GOODNIGHTMEMBER, BOARD OF DIRECTORS

CARL RYDENMEMBER, BOARD OF DIRECTORS

ASHLEY PERKINSONMEMBER, BOARD OF DIRECTORS

ANN B GOODNIGHTMEMBER, BOARD OF DIRECTORS

ALEX UDELLMEMBER, BOARD OF DIRECTORS

About this charity

Recognized since
January 1996
Location
1500 N HARRISON AVE, CARY, NC 27513-5549
County
Wake
In care of
% CHIEF FINANCIAL OFFICER
Primary officer
MICHAEL EHRHARDT, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Phone(919) 677-3873

Filing and classification

Latest tax year
2024
Tax period began
July 1, 2024
Return type
990
Tax preparer
BATCHELOR TILLERY & ROBERTS LLP
NTEE classification
Education (B250)

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About this report: Information comes from public nonprofit records and may show the latest filing available.

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