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Nonprofiteer
← FIRST PRESBYTERIAN ACADEMY INC

Form 990 for tax year 2022

Filed by FIRST PRESBYTERIAN ACADEMY INC.

Totals

Total revenue
$6,225,397
Total expenses
$5,422,189
Contributions and grants received
$394,412
Grants paid
$0
Program service revenue
$5,807,018
Investment income
$23,967
Other revenue
$0
Total assets, end of year
$8,676,298
Total liabilities, end of year
$4,629,204
Net assets or fund balances, end of year
$4,047,094
Program services expenses (Part IX)
$4,660,102
Management and general expenses
$549,569
Fundraising expenses
$212,518
Program service expenses (Part III)
$4,660,102

Program services were 85.9% 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

    $394,412

  • 2a · Program service revenue: TUITION AND FEES

    total $4,093,063 · related or exempt $4,093,063

  • 2b · Program service revenue: PROGRAMS

    total $1,455,943 · related or exempt $1,455,943

  • 2c · Program service revenue: OTHER INCOME

    total $258,012 · related or exempt $258,012

  • 3 · Investment income

    total $23,967 · excluded $23,967

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $3,177,462 · program services $2,617,621 · management and general $370,997 · fundraising $188,844

  • 9 · Other employee benefits

    total $288,207 · program services $265,979 · management and general $11,994 · fundraising $10,234

  • 10 · Payroll taxes

    total $226,142 · program services $186,298 · management and general $26,404 · fundraising $13,440

  • 11c · Fees: accounting

    total $10,000 · management and general $10,000

  • 11g · Fees: other

    total $101,187 · program services $101,187

  • 12 · Advertising and promotion

    total $68,263 · program services $68,263

  • 13 · Office expenses

    total $50,070 · program services $50,070

  • 14 · Information technology

    total $44,960 · program services $44,960

  • 16 · Occupancy

    total $525,808 · program services $446,937 · management and general $78,871

  • 17 · Travel

    total $2,481 · management and general $2,481

  • 20 · Interest

    total $89,175 · program services $75,799 · management and general $13,376

  • 22 · Depreciation, depletion and amortization

    total $183,063 · program services $155,604 · management and general $27,459

  • 23 · Insurance

    total $9,498 · program services $9,498

  • 24a · Other expenses: SCHOOL SERVICES

    total $309,078 · program services $309,078

  • 24b · Other expenses: STUDENT SERVICES

    total $195,822 · program services $195,822

  • 24c · Other expenses: ATHLETICS

    total $65,384 · program services $65,384

  • 24d · Other expenses: CLASSROOM SUPPLIES AND

    total $37,063 · program services $37,063

  • 24e · All other expenses

    total $38,526 · program services $30,539 · management and general $7,987

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,709 · end of year $923,556

  • 2 · Savings and temporary cash investments

    beginning of year $3,589,007 · end of year $2,005,662

  • 4 · Accounts receivable

    beginning of year $12,692 · end of year $28,438

  • 9 · Prepaid expenses and deferred charges

    beginning of year $117,237 · end of year $132,582

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

    $5,440,998

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

    $616,704

  • 10c · Land, buildings and equipment, net

    beginning of year $2,716,052 · end of year $4,824,294

  • 15 · Other assets

    beginning of year $0 · end of year $761,766

  • 17 · Accounts payable and accrued expenses

    beginning of year $519,964 · end of year $596,166

  • 19 · Deferred revenue

    beginning of year $1,310,847 · end of year $1,413,038

  • 23 · Secured mortgages and notes payable

    beginning of year $1,370,000 · end of year $2,620,000

  • 27 · Net assets without donor restrictions

    beginning of year $2,338,166 · end of year $3,520,252

  • 28 · Net assets with donor restrictions

    beginning of year $905,720 · end of year $526,842

Mission and programs · 2022

Mission

FIRST PRESBYTERIAN ACADEMY IS A CHRISTIAN COMMUNITY DEDICATED TO PROVIDING A PREMIER COLLEGE PREPARATORY EDUCATION, GROUNDED IN BIBLICAL WORLD VIEW WHICH DEVELOPS CHARACTER IN STUDENTS FROM VARIED BACKGROUNDS FOR A LIFETIME OF LEARNING AND SERVICE.

Activities or mission (Part I)

FIRST PRESBYTERIAN ACADEMY IS A CHRISTIAN COMMUNITY DEDICATED TO PROVIDING A PREMIER COLLEGE PREPARATORY EDUCATION, GROUNDED IN A BIBLICAL WORLD VIEW WHICH DEVELOPS CHARACTER IN STUDENTS FROM VARIED BACKGROUNDS FOR A LIFETIME OF LEARNING AND SERVICE.

  • FIRST PRESBYTERIAN ACADEMY, INC PROVIDES A QUALITY COLLEGE PREPARATORY CHRISTIAN EDUCATION FOR GRADES K2-12

    Expenses $4,660,102 · Revenue $5,807,018

As filed on the 2022 return.

Listed in Part VII

  • Brandi Brady

    FINANCE DIRECTOR

    Total calculated
    $65,000
    From this org
    $57,095
    From related orgs
    $0
    Other
    $7,905
    Hours/week
    40

  • Chris Wright

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • M Lee Powell IV

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Debbie Martin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bill Knight

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Fred Grant

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Larry Bloomer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Ward

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Heather Devine

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tom Roe

    HEAD OF SCHOOL

    Total calculated
    $111,150
    From this org
    $111,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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
202441369349317409

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