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Triangle Charter Education Association Inc

EIN 90-1031905 · Cary, NC

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak26 out of 100GovernanceStrong92 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • It owes more than it owns.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

THE TRIANGLE CHARTER EDUCATIONAL ASSOCIATION IS A NORTH CAROLINA NOT-FOR-PROFIT ENTITY ORGANIZED EXCLUSIVELY FOR EDUCATIONAL PURPOSES. THE ASSOCIATION IS COMPRISED OF RESPECTED LEADERS WITHIN THE STATE OF NORTH CAROLINA WHO ARE COMMITTED TO PROVIDING HIGH QUALITY EDUCATIONAL OPTIONS FOR THE CITIZENS OF THE STATE. THE ASSOCIATION GOVERNS CARDINAL CHARTER ACADEMY AND CARDINAL CHARTER ACADEMY AT WENDELL FALLS.

Income
$16.1 million
Spending
$16.7 million
Spent on programs
50%
Reserves
-4.9 months of spending
Largest source of income
government grants, 98%
Employees
218
Volunteers
233

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 26 out of 100. Higher than 2% of charities in its peer group (education, $10m to $100m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    0 of 20

    It owes 120% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 4% of income.

  • Income trend

    10 of 15

    Income fell 3% on the year before.

  • Spending floor

    8 of 15

    50% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 92 out of 100. Higher than 37% of charities in its peer group (education, $10m to $100m).

  • Independent board

    25 of 25

    5 of 5 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $8.3 million spent. CARDINAL CHARTER ACADEMY AND CARDINAL CHARTER ACADEMY AT WENDELL FALLS ARE TUITION-FREE PUBLIC CHARTER SCHOOLS EDUCATING STUDENTS WHO RESIDE IN NORTH CAROLINA. THE SCHOOLS CURRENTLY SERVE STUDENTS IN KINDERGARTEN THROUGH EIGHTH GRADE. THE ACADEMIES' MISSION IS TO BUILD A STUDENT-CENTERED LEARNING ENVIRONMENT THAT IS PROJECT-BASED AND TECHNOLOGY-DRIVEN, ENABLING STUDENTS TO REACH THEIR ACADEMIC POTENTIAL. THE SCHOOLS EMPHASIZE ACADEMIC SUCCESS THROUGH THE USE OF DATA TO ADDRESS THE DIVERSE AND INDIVIDUALIZED NEEDS OF STUDENTS. CARDINAL CHARTER ACADEMY FOSTERS A CULTURE OF INNOVATION AND INQUIRY, USING TECHNOLOGY AS A KEY INSTRUCTIONAL MEDIUM.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since February 2015.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.