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Lake Norman Charter School

Huntersville, NC · EIN 58-2360164 · 501(c)(3) · School
Latest filing: Form 990 for the fiscal year ending June 30, 2025 (tax year 2024) · View the filing · Correct or respond

Lake Norman Charter School reported $30.0 million in revenue and $30.8 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $91.90 went to program services, $8.10 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 83.9% of the total. Government grants made up 80.4%. The highest compensation it reported for one person was $233,955 (MANAGING DIRECTOR). 1 person received more than $100,000 in reportable compensation. Revenue rose 35% 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 $31M

Program services$91.90 $28M
Management & general$8.10 $2.5M
Fundraising$0.00 $0

For 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 $30M

Contributions & grants (non-government)$3.45 $1.0M
Government grants$80.45 $24M
Program service revenue$4.88 $1.5M
Investment income$3.41 $1.0M
Other revenue$7.81 $2.3M

The 990 scorecard · same measures for every charity, no grades

FY2025 filing. Median across 5,499 covered charities in this category, from their latest filings.
Measure	FY2025	Median
Program services Part IX 25(B) ÷ 25(A)	91.9%	84.4%
Management & general Part IX 25(C) ÷ 25(A)	8.1%	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	83.9%	19.1%
Government grants share of revenue Part VIII 1e ÷ 12	80.4%	1.1%
Program service revenue share Part VIII 2g ÷ 12	4.9%	69.9%
Highest reported compensation Part VII-A, columns D–F	$233,955	$331,578
Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A)	0.76%	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	-1.2	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 expense

$28M expenses · 100.0% of program spending · revenue $3.7M

To operate a public Charter School serving approximately 2,200 students in grades k-12. Provide facilities, teachers, instructional supplies and materials to students enrolled in the Charter School

Highest 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
MANAGING DIRECTOR Director/trustee, 40.00 hrs/week	$188,613	$0	$45,342	$233,955

1 people received more than $100,000 in reportable compensation from Lake Norman Charter School (Part VII, line 2).

6 years of filings

Form 990, Parts I, VII, IX and X · each row is that year's own filing, linked

RevenueExpenses

Filing	Revenue	Expenses	Programs	Net assets	Top pay
FY2025 ⓘ	$30M	$31M	91.9%	−$3.0M	$233,955
FY2024 ⓘ	$28M	$28M	93.8%	−$2.2M	$250,658
FY2023 ⓘ	$29M	$25M	92.8%	−$2.7M	$208,652
FY2022 ⓘ	$26M	$24M	92.5%	−$7.5M	$170,092
FY2021 ⓘ	$25M	$23M	92.2%	−$9.5M	$220,439
FY2020 ⓘ	$22M	$23M	67.4%	−$11M	$168,882

Governance 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 13Yes
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 5324
Volunteers Part I, line 6200

Private foundation grants it received

4 private foundations reported grants to Lake Norman Charter School totaling $11,884 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.

Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.

Correct a figure or respond

Every number above is copied from Lake Norman Charter School's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Lake Norman Charter School, you can publish a response that is linked from this page.

Report a correction Respond as Lake Norman Charter School How this works

Similar-sized charities in this cause

Aspira Bilingual Cyber Charter School an Aspira Inc. of Pennsylvania School
Philadelphia, PA · revenue $30M · programs 87.6% · FY2025
Herron High School
Indianapolis, IN · revenue $30M · programs 88.2% · FY2025
The Allen-Stevenson School
New York, NY · revenue $30M · programs 79.9% · FY2025
Christian Academy of Louisville
Louisville, KY · revenue $30M · programs 77.3% · FY2025
Lausanne Collegiate School
Memphis, TN · revenue $30M · programs 86.7% · FY2025

All education charities · Largest charities in North Carolina

Questions people ask

How much of Lake Norman Charter School's spending goes to programs?

In the fiscal year ending June 30, 2025, Lake Norman Charter School reported that 91.9% of its $30.8 million in expenses went to program services, 8.1% to management and general and 0.0% to fundraising (Form 990, Part IX).

How much does Lake Norman Charter School pay its top executive?

The largest total compensation Lake Norman Charter School reported for one person in the fiscal year ending June 30, 2025 was $233,955, for the role of MANAGING DIRECTOR (Form 990, Part VII, including compensation from related organizations and other compensation).

Where does Lake Norman Charter School get its money?

Of $30.0 million in revenue in the fiscal year ending June 30, 2025, 83.9% came from contributions and grants (including 80.4% from government grants) and 4.9% from program service revenue (Form 990, Part VIII).

Is Lake Norman Charter School a registered charity?

The IRS lists EIN 58-2360164 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 202641319349302404 · read the filing
FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541329349301119 · read the filing
FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202441219349300839 · read the filing
FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202311159349301516 · read the filing
FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202201329349301725 · read the filing
FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101269349302300 · read the filing

All filings for EIN 58-2360164: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.