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← FRIENDS OF NOVA CLASSICAL ACADEMY

Form 990 for tax year 2022

Filed by FRIENDS OF NOVA CLASSICAL ACADEMY.

Totals

Total revenue
$1,804,878
Total expenses
$1,420,722
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,730,520
Investment income
$74,358
Other revenue
$0
Total assets, end of year
$20,583,330
Total liabilities, end of year
$21,837,763
Net assets or fund balances, end of year
-$1,254,433
Program services expenses (Part IX)
$1,420,722
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,420,722

Program services were 100.0% 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.

  • 2f · All other program service revenue

    total $1,730,520 · related or exempt $1,730,520 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $74,358 · related or exempt $74,358 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $50,863 · program services $50,863

  • 16 · Occupancy

    total $9,615 · program services $9,615

  • 20 · Interest

    total $834,603 · program services $834,603

  • 22 · Depreciation, depletion and amortization

    total $517,685 · program services $517,685

  • 23 · Insurance

    total $7,956 · program services $7,956

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $134,819 · end of year $243,391

  • 2 · Savings and temporary cash investments

    beginning of year $2,766,050 · end of year $2,931,111

  • 4 · Accounts receivable

    end of year $191,638

  • 10a · Land, buildings and equipment: cost or other basis

    $18,622,126

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,218,517

  • 10c · Land, buildings and equipment, net

    beginning of year $15,715,415 · end of year $15,403,609

  • 15 · Other assets

    beginning of year $2,037,942 · end of year $1,813,581

  • 17 · Accounts payable and accrued expenses

    beginning of year $498,677 · end of year $517,107

  • 20 · Tax-exempt bond liabilities

    beginning of year $21,794,138 · end of year $21,320,656

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$1,209,080 · end of year -$616,447

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$429,509 · end of year -$637,986

Mission and programs · 2022

Mission

Lease and maintain property for Nova Classical Academy.

Activities or mission (Part I)

Lease and maintain property of Nova Classical Academy

  • Lease and maintain property for Nova Classical Academy.

    Expenses $1,420,722

As filed on the 2022 return.

Listed in Part VII

  • Sarah Taylor

    Director

    Total calculated
    $37,286
    From this org
    $0
    From related orgs
    $31,256
    Other
    $6,030
    Hours/week
    1 + 40 related

  • Jeff Ellerd

    President

    Total calculated
    $0
    Hours/week
    1

  • Ken Schlosser

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Scott Krizan

    Director

    Total calculated
    $0
    Hours/week
    1

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
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349315805

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