2024-05-06T15:12:19-04:00 2023-06-30 844233121 SHARPE PATEL CPA 325 ARLINGTON AVE STE 630 CHARLOTTE NC 28203 990 2022-07-01 455389101 THE CAPITOL ENCORE ACADEMY CAPI 9108490888 126 HAY STREET FAYETTEVILLE NC 28301 WENDY HUSTWIT PRESIDENT 9108490888 2024-05-02 WENDY HUSTWIT 999009999 true MEGAN A RIDGLEY CPA P01317611 7044993893 2024-05-02 2022 2023-04-26 12:10:37Z WENDY HUSTWIT 7627672 false X WWW.CAPITOLENCOREACADEMY.ORG X 2012 NC THE CAPITOL ENCORE ACADEMY WILL DEVELOP ARTISTS WHO INSPIRE OTHERS WITH PRINCIPLES OF DESIGN AND ARTFUL THINKING THROUGH THE INTEGRATION OF ACADEMIC EXCELLENCE, VIRTUOUS CHARACTER AND DISCIPLINED ARTISTRY. 5 5 111 50 0 6324278 7567414 200 20663 77 65166 39518 6389644 7627672 0 0 3462891 4263218 0 0 2894588 3689347 6357479 7952565 32165 -324893 43108466 16498998 42507972 15123426 600494 1375572 THE CAPITOL ENCORE ACADEMY WILL DEVELOP ARTISTS WHO INSPIRE OTHERS WITH PRINCIPLES OF DESIGN AND ARTFUL THINKING THROUGH THE INTEGRATION OF ACADEMIC EXCELLENCE, VIRTUOUS CHARACTER AND DISCIPLINED ARTISTRY. false false 5725850 20663 OPERATED AS A PUBLIC CHARTER SCHOOL, FOCUSED ON THE ARTS, IN FAYETTEVILLE, NC SERVING APPROXIMATELY 647 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2023. 5725850 true true false false false false false false false false true false false false true false true false true false false false false false false false false false false false true false false false false false false false false false false false false false false true true false false false true 8 0 111 true false false false false false false false false false false false false false false X 5 5 false false false false false false false true true false false true true true true true true true true false NC X LBA HAYES STRAND 7048421120 212 W MATTHEWS ST MATTHEWS NC 28105 X WENDY HUSTWIT PRESIDENT 1.00 X X 0 0 0 ROCIO SERNA VICE PRESIDE 1.00 X X 0 0 0 ROBERT JASON POOLE TREASURER 1.00 X X 0 0 0 ULYSSES TAYLOR SECRETARY 1.00 X X 0 0 0 JEREMY FIEBIG MEMBER 1.00 X 0 0 0 false false false CR DRYWALL 117 NAVAHO DRIVE SHANNON NC 28386 DRYWALL SERVICE 101359 1 7541597 25817 7567414 LUNCH & AFTER SCHOOL CARE 611710 19575 19575 STUDENT ACTIVITIES AND FEES 611710 1088 1088 20663 77 77 SALES TAX 900099 38902 38902 VARIOUS 900099 616 616 39518 7627672 60181 77 3260681 2347690 912991 171182 123251 47931 586754 422463 164291 244601 176113 68488 644404 463971 180433 13315 9587 3728 248118 178645 69473 8372 6028 2344 16306 11741 4565 155569 112010 43559 369550 266076 103474 35816 25788 10028 712573 513053 199520 437285 314845 122440 49084 35340 13744 SUPPLIES 369849 266291 103558 FOOD PURCHASES 302248 217619 84629 GENERAL CURRICULUM 96612 69561 27051 NON-CAPITALIZED 83930 60430 23500 146316 105348 40968 7952565 5725850 2226715 0 1713562 2202477 1547398 1199099 1199450 199229 133876 100425 12802344 1323354 11657261 11478990 27857140 318557 43108466 16498998 53084 37321 13705000 13500000 28749888 1586105 42507972 15123426 X 600494 2227005 -851433 600494 1375572 43108466 16498998 X -324893 1117710 -17739 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 310320 310320 8939025 3253 8935772 129894 -129894 1190207 -1190207 7925991 DUE TO MANAGEMENT 1238033 LEASE LIABILITY 348072 1586105 7627672 7627672 7627672 7970304 78692 78692 7891612 60953 60953 7952565 SCHEDULE D, PAGE 4, PART XII, LINE 2D GASB 87 LEASE INTEREST EXPENSE 62,764 GASB 87 LEASE AMORTIZATION EXPENSE 15,928 SCHEDULE D, PAGE 4, PART XII, LINE 4B RENT EXPENSE 60,953 false false false false false false false false false false false false false false false true false false SCHEDULE E, LINE 3 THE CAPITOL ENCORE ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578 SCHEDULE E, LINE 4 THE CAPITOL ENCORE ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578 SCHEDULE E, LINE 6 THE CAPITAL ENCORE ACADEMY IS ORGANIZED AS A PUBLIC CHARTER SCHOOL UNDER NORTH CAROLINA GENERAL STATUE 115C-238-29A. ACCORDINGLY, IT RECEIVES BOTH FEDERAL AND STATE FUNDING AS IT'S PRIMARY MEANS OF SUPPORT. SCHEDULE E, LINE 7 THE CAPITOL ENCORE ACADEMY IS A PUBLIC CHARTER SCHOOL AND IS NOT REQUIRED TO FILE FORM 5578 A PUBLIC FINANCE AUTHORITY SERIES 2019A EDUCATION REVENUE BOND 273866124 74442EEU0 2019-09-18 7040000 PURCHASE SCHOOL BUILDING false false false B PUBLIC FINANCE AUTHORITY SERIES 2021A EDUCATION REVENUE BOND 273866124 74442EGG9 2021-07-22 6150000 TO PURCHASE A SCHOOL BUILDING false false false A 6899200 487105 6411795 2019 false false true true B 5756913 3438690 2021 false false true true A false false false false false false false B false false false false false false false A false true false false false false false false true B false true false false false false false false true A true B true PURPOSE OF ISSUE DESCRIPTION PUBLIC FINANCE AUTHORITY PURCHASE SCHOOL BUILDING PURPOSE OF ISSUE DESCRIPTION PUBLIC FINANCE AUTHORITY TO PURCHASE A SCHOOL BUILDING FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE TAX RETURN IS PROVIDED TO THE BOARD MEMBERS PRIOR TO FILING THE RETURN. FORM 990, PAGE 6, PART VI, LINE 12C AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD OR COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 15B THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 19 THE INFORMATION IS AVAILABLE TO THE GENERAL PUBLIC AT THE FRONT OFFICE OF THE SCHOOL. FORM 990, PART XI, LINE 9 GASB 87 LEASE INTEREST EXPENSE -62,764 GASB 87 LEASE AMORTIZATION EXPENSE -15,928 RENT EXPENSE 60,953 TOTAL -17,739 A PRIOR PERIOD ADJUSTMENT WAS NEEDED BECAUSE AN AMOUNT THAT WAS REQUIRED TO BE ACCRUED DURING 2022 WAS NOTED AND RESTATED RESULTING IN A DECREASE IN NET POSITION AND FUND BALANCE OF 79,714. ADDITIONALLY, DURING THE YEAR ENDED JUNE 30, 2023, THE SCHOOL RECORDED AN EMPLOYEE RETENTION CREDIT THAT WAS DUE IN THE AMOUNT OF 1,197,424 FOR THE YEAR ENDED JUNE 30, 2021 AND RECEIVED IN JULY 2023. THIS RESULTED IN A RESTATEMENT OF PREVIOUS NET POSITION AND FUND BALANCE OF 1,197,424, AS WELL AS,AN INCREASE IN ACCOUNTS RECEIVABLE IN THE SAME AMOUNT. THE CAPITOL ENCORE ACADEMY PROPERTI TIES LLC 126 HAY STREET FAYETTEVILLE NC 28301 455389101 RENTAL NC 77 1199099 THE CAPITO L ENCORE ACADEMY