Falls Lake Academy
Falls Lake Academy reported $14.0 million in revenue and $13.2 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $100.00 went to program services, $0.00 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 92.6% of the total. Government grants made up 92.6%. The highest compensation it reported for one person was $130,352 (EXECUTIVE DIRECTOR). 1 person received more than $100,000 in reportable compensation. Revenue rose 29% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $13MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $14MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 100.0% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 0.0% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 92.6% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 92.6% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 5.7% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $130,352 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.99% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 1 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 5.8 | 13.3 |
| Independent voting board members Part VI 1a–1b | 9 of 9 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| EXECUTIVE DIRECTOR Officer, 40.00 hrs/week | $130,352 | $0 | $0 | $130,352 |
1 people received more than $100,000 in reportable compensation from Falls Lake Academy (Part VII, line 2).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b9 · 9 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13No
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5204
Correct a figure or respond
Every number above is copied from Falls Lake Academy's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Falls Lake Academy, you can publish a response that is linked from this page.
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Of every $100 Falls Lake Academy spent in FY2025, $100.00 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Benedictine Schools Educational FoundationRichmond, VA · revenue $14M · programs 98.5% · FY2025
- Thurgood Marshall AcademyWashington, DC · revenue $14M · programs 92.5% · FY2025
- Watkinson SchoolHartford, CT · revenue $14M · programs 83.2% · FY2025
- Catalina Island MuseumAvalon, CA · revenue $14M · programs 80.4% · FY2025
- Murray State University FoundationMurray, KY · revenue $14M · programs 90.7% · FY2025
All education charities · Largest charities in North Carolina
Questions people ask
How much of Falls Lake Academy's spending goes to programs?
In the fiscal year ending June 30, 2025, Falls Lake Academy reported that 100.0% of its $13.2 million in expenses went to program services, 0.0% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Falls Lake Academy pay its top executive?
The largest total compensation Falls Lake Academy reported for one person in the fiscal year ending June 30, 2025 was $130,352, for the role of EXECUTIVE DIRECTOR (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Falls Lake Academy get its money?
Of $14.0 million in revenue in the fiscal year ending June 30, 2025, 92.6% came from contributions and grants (including 92.6% from government grants) and 5.7% from program service revenue (Form 990, Part VIII).
Is Falls Lake Academy a registered charity?
The IRS lists EIN 46-1167805 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202601219349301865 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202500319349300800 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202430999349300128 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202311159349300926 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202231339349302483 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202141269349302219 · read the filing
All filings for EIN 46-1167805: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.