Form 990 for tax year 2024
Filed by GRACE CLASSICAL CHRISTIAN ACADEMY.
Totals
- Total revenue
- $2,997,525
- Total expenses
- $896,169
- Contributions and grants received
- $2,335,275
- Grants paid
- $0
- Program service revenue
- $654,557
- Investment income
- -$42,866
- Other revenue
- $50,559
- Total assets, end of year
- $3,678,145
- Total liabilities, end of year
- $119,451
- Net assets or fund balances, end of year
- $3,558,694
- Program services expenses (Part IX)
- $893,568
- Management and general expenses
- $2,601
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $893,568
Program services were 99.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$2,335,275
-
1g · Noncash contributions included above
$2,003,775
-
2a · Program service revenue: TUITION INCOME, NET OF ASSIST
total $592,100 · related or exempt $592,100
-
2b · Program service revenue: EXTRA CURRICULAR ACTIVITIES
total $52,059 · related or exempt $52,059
-
2c · Program service revenue: REGISTRATION FEES
total $9,290 · related or exempt $9,290
-
2d · Program service revenue: OTHER
total $1,108 · related or exempt $1,108
-
3 · Investment income
total $25,539 · related or exempt $25,448 · excluded $91
-
7a · Gross sales of assets other than inventory
securities $1,392,867
-
7b · Less cost or other basis and sales expenses
securities $1,461,272
-
7c · Gain or loss
securities -$68,405
-
7d · Net gain or loss
total -$68,405 · related or exempt -$68,405
-
9a · Gaming: gross income
$71,758
-
9b · Gaming: direct expenses
$21,273
-
9c · Net income from gaming
total $50,485 · related or exempt $50,485
-
11a · Other revenue: K-1 CRESSON CROSSROADS
total $102 · unrelated business $102
-
11b · Other revenue: K-1 CRESSON CROSSROADS
total $12 · unrelated business $12
-
11c · Other revenue: K-1 CRESSON ENERGY
total -$40 · unrelated business -$40
-
11e · Other revenue, total
$74
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $661,005 · program services $661,005
-
9 · Other employee benefits
total $29,867 · program services $29,867
-
10 · Payroll taxes
total $61,335 · program services $61,335
-
11c · Fees: accounting
total $5,578 · program services $2,977 · management and general $2,601
-
11g · Fees: other
total $5,599 · program services $5,599
-
12 · Advertising and promotion
total $4,293 · program services $4,293
-
13 · Office expenses
total $8,228 · program services $8,228
-
14 · Information technology
total $240 · program services $240
-
16 · Occupancy
total $50,263 · program services $50,263
-
20 · Interest
total $340 · program services $340
-
22 · Depreciation, depletion and amortization
total $788 · program services $788
-
23 · Insurance
total $4,635 · program services $4,635
-
24a · Other expenses: CURRICULUM AND CLASSROOM
total $53,017 · program services $53,017
-
24b · Other expenses: MISCELLANEOUS
total $6,195 · program services $6,195
-
24c · Other expenses: DUES AND SUBSCRIPTIONS
total $3,589 · program services $3,589
-
24d · Other expenses: HOSPITALITY
total $1,197 · program services $1,197
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $84,807 · end of year $34,677
-
2 · Savings and temporary cash investments
beginning of year $157,832 · end of year $668,966
-
4 · Accounts receivable
beginning of year $51,260 · end of year $29,739
-
9 · Prepaid expenses and deferred charges
beginning of year $9,405 · end of year $3,825
-
10a · Land, buildings and equipment: cost or other basis
$1,744,549
-
10b · Land, buildings and equipment: accumulated depreciation
$1,281
-
10c · Land, buildings and equipment, net
beginning of year $1,039,170 · end of year $1,743,268
-
11 · Investments: publicly traded securities
end of year $1,100,375
-
12 · Investments: other securities
beginning of year $11,571 · end of year $11,736
-
15 · Other assets
beginning of year $83,048 · end of year $85,559
-
17 · Accounts payable and accrued expenses
beginning of year $113,392 · end of year $73,763
-
19 · Deferred revenue
beginning of year $20,605 · end of year $38,911
-
25 · Other liabilities
beginning of year $5,873 · end of year $6,777
-
27 · Net assets without donor restrictions
beginning of year $1,297,223 · end of year $3,558,694
Mission and programs · 2024
Mission
THE OPERATION OF A SCHOOL TO EDUCATE CHILDREN FROM PRE-KINDERGARTEN THROUGH HIGH SCHOOL WITH AN EMPHASIS ON AN HISTORIC CHRISTIAN WORLDVIEW AND RELATED VIGOROUS CLASSICAL CURRICULUM. DURING THE CURRENT SCHOOL YEAR WE HAD STUDENTS ENROLLED IN GRADES PRE - KINDERGARTEN THROUGH TWELFTH GRADE.
-
THE OPERATION OF A SCHOOL TO EDUCATE CHILDREN FROM PRE-KINDERGARTEN THROUGH HIGH SCHOOL WITH AN EMPHASIS ON AN HISTORIC CHRISTIAN WORLDVIEW AND RELATED VIGOROUS CLASSICAL CURRICULUM. DURING THE CURRENT SCHOOL YEAR WE HAD STUDENTS ENROLLED IN GRADES PRE - KINDERGARTEN THROUGH TWELFTH GRADE.
Expenses $893,568 · Revenue $654,557
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
BRETT CAIN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
LUCAS FOLEGATTI
SECRETARY&TR
- Total calculated
- $0
- Hours/week
- 2
-
IKE THOMAS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
RYAN THOMAS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 12 October 2025
- IRS schema version
- 2024v5.0
- Source object
- 202522899349300302
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