Totals
- Total revenue
- $1,689,001
- Total expenses
- $1,236,718
- Contributions and grants received
- $1,588,208
- Grants paid
- $0
- Program service revenue
- $48,400
- Investment income
- $32,912
- Other revenue
- $19,481
- Total assets, end of year
- $1,520,834
- Total liabilities, end of year
- $2,688
- Net assets or fund balances, end of year
- $1,518,146
- Program services expenses (Part IX)
- $1,125,414
- Management and general expenses
- $74,203
- Fundraising expenses
- $37,101
- Program service expenses (Part III)
- $1,125,414
Program services were 91.0% 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.
-
1e · Government grants (contributions)
$641,340
-
1f · All other contributions, gifts and grants
$946,868
-
2a · Program service revenue: ACADEMIC TUITION
total $48,400 · related or exempt $48,400
-
3 · Investment income
total $32,912 · related or exempt $32,912
-
11a · Other revenue: COVID EXPENSE REIMBURSEMENT
total $19,481 · related or exempt $19,481
-
11e · Other revenue, total
$19,481
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $827,932 · program services $753,418 · management and general $49,676 · fundraising $24,838
-
9 · Other employee benefits
total $86,114 · program services $78,364 · management and general $5,167 · fundraising $2,583
-
11c · Fees: accounting
total $8,328 · program services $7,578 · management and general $500 · fundraising $250
-
11g · Fees: other
total $9,500 · program services $8,645 · management and general $570 · fundraising $285
-
13 · Office expenses
total $14,678 · program services $13,357 · management and general $881 · fundraising $440
-
14 · Information technology
total $7,605 · program services $6,921 · management and general $456 · fundraising $228
-
16 · Occupancy
total $40,984 · program services $37,295 · management and general $2,459 · fundraising $1,230
-
22 · Depreciation, depletion and amortization
total $73,157 · program services $66,573 · management and general $4,389 · fundraising $2,195
-
23 · Insurance
total $13,565 · program services $12,344 · management and general $814 · fundraising $407
-
24a · Other expenses: REPAIRS AND MAINTENANCE
total $43,877 · program services $39,928 · management and general $2,633 · fundraising $1,316
-
24b · Other expenses: FOOD
total $42,047 · program services $38,263 · management and general $2,523 · fundraising $1,261
-
24c · Other expenses: CURRICULUM AND SUPPLIES
total $30,985 · program services $28,196 · management and general $1,859 · fundraising $930
-
24d · Other expenses: MISCELLANEOUS
total $14,610 · program services $13,295 · management and general $877 · fundraising $438
-
24e · All other expenses
total $23,336 · program services $21,237 · management and general $1,399 · fundraising $700
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $50,770 · end of year $5,748
-
7 · Other notes and loans receivable
beginning of year $1,119
-
10a · Land, buildings and equipment: cost or other basis
$709,355
-
10b · Land, buildings and equipment: accumulated depreciation
$109,736
-
10c · Land, buildings and equipment, net
beginning of year $660,898 · end of year $599,619
-
11 · Investments: publicly traded securities
beginning of year $353,076 · end of year $915,467
-
17 · Accounts payable and accrued expenses
end of year $2,688
-
31 · Retained earnings, endowment or other funds
beginning of year $1,065,863 · end of year $1,518,146
Mission and programs · 2023
Mission
THE OBJECTIVE OF FAITH ACADEMY SHALL BE TO PROVIDE A CHRIST-CENTERED EDUCATION, IN THE FORM OF FORMAL DAILY INSTRUCTION, TO LOW-INCOME STUDENTS IN THE IOWA CITY AREA.
-
FAITH ACADEMY PROVIDED A QUALITY CHRIST-CENTERED EDUCATION TO OVER 112 K- 6TH GRADE STUDENTS, HELPING 69 TO ACHIEVE PROFICIENCY IN READING. FAITH ACADEMY GRADUATED ITS FIFTH 6TH GRADE CLASS.
Expenses $1,125,414 · Revenue $48,400
As filed on the 2023 return.
Listed in Part VII
-
Doug Fern Left 82023DOUG FERN LEFT 82023
EXECUTIVE DI
- Total calculated
- $0
- Hours/week
- 17
-
David AspreyDAVID ASPREY
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 2
-
Matt Johnson Left 52024MATT JOHNSON LEFT 52024
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 2
-
Richard HoeferRICHARD HOEFER
TREASURER
- Total calculated
- $0
- Hours/week
- 15
-
Craig Welt Left 52024CRAIG WELT LEFT 52024
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Jill SchlottJILL SCHLOTT
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Danice KeatingDANICE KEATING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Brandi RadcliffeBRANDI RADCLIFFE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Monique Washington Left 72023MONIQUE WASHINGTON LEFT 72023
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Cynthia Ukah Left 72023CYNTHIA UKAH LEFT 72023
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Bernadine FranksBERNADINE FRANKS
EXECUTIVE DI
- Total calculated
- $0
- Hours/week
- 40
-
Tony LuneckasTONY LUNECKAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
James BalmerJAMES BALMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Richard WootonnRICHARD WOOTONN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Shane KelleySHANE KELLEY
SECRETARY
- 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
- 2023
- Filed
- 27 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202510869349302001
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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