Totals
- Total revenue
- $1,617,280
- Total expenses
- $1,657,247
- Contributions and grants received
- $1,514,182
- Grants paid
- $0
- Program service revenue
- $43,387
- Investment income
- $38,556
- Other revenue
- $21,155
- Total assets, end of year
- $1,480,274
- Total liabilities, end of year
- $2,095
- Net assets or fund balances, end of year
- $1,478,179
- Program services expenses (Part IX)
- $1,508,094
- Management and general expenses
- $99,435
- Fundraising expenses
- $49,718
- Program service expenses (Part III)
- $1,508,094
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)
$856,947
-
1f · All other contributions, gifts and grants
$657,235
-
2a · Program service revenue: ACADEMIC TUITION
total $43,387 · related or exempt $43,387
-
3 · Investment income
total $38,556 · related or exempt $38,556
-
11a · Other revenue: TRANSPORTATION REIMBURSEMENT
total $21,155 · related or exempt $21,155
-
11e · Other revenue, total
$21,155
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $1,138,020 · program services $1,035,598 · management and general $68,281 · fundraising $34,141
-
9 · Other employee benefits
total $97,583 · program services $88,801 · management and general $5,855 · fundraising $2,927
-
11b · Fees: legal
total $762 · program services $693 · management and general $46 · fundraising $23
-
11c · Fees: accounting
total $8,500 · program services $7,735 · management and general $510 · fundraising $255
-
13 · Office expenses
total $23,544 · program services $21,425 · management and general $1,413 · fundraising $706
-
14 · Information technology
total $7,386 · program services $6,721 · management and general $443 · fundraising $222
-
16 · Occupancy
total $55,566 · program services $50,565 · management and general $3,334 · fundraising $1,667
-
22 · Depreciation, depletion and amortization
total $78,718 · program services $71,633 · management and general $4,723 · fundraising $2,362
-
23 · Insurance
total $14,606 · program services $13,292 · management and general $876 · fundraising $438
-
24a · Other expenses: FOOD
total $91,441 · program services $83,212 · management and general $5,486 · fundraising $2,743
-
24b · Other expenses: CURRICULUM AND SUPPLIES
total $36,603 · program services $33,309 · management and general $2,196 · fundraising $1,098
-
24c · Other expenses: REPAIRS AND MAINTENANCE
total $27,795 · program services $25,293 · management and general $1,668 · fundraising $834
-
24d · Other expenses: MISCELLANEOUS
total $20,344 · program services $18,513 · management and general $1,221 · fundraising $610
-
24e · All other expenses
total $56,379 · program services $51,304 · management and general $3,383 · fundraising $1,692
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,748 · end of year $1,794
-
2 · Savings and temporary cash investments
beginning of year $915,467 · end of year $781,224
-
10a · Land, buildings and equipment: cost or other basis
$885,710
-
10b · Land, buildings and equipment: accumulated depreciation
$188,454
-
10c · Land, buildings and equipment, net
beginning of year $599,619 · end of year $697,256
-
17 · Accounts payable and accrued expenses
beginning of year $2,688 · end of year $2,095
-
31 · Retained earnings, endowment or other funds
beginning of year $1,518,146 · end of year $1,478,179
Mission and programs · 2024
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 130 K- 7TH GRADE STUDENTS, HELPING 80 TO ACHIEVE PROFICIENCY IN READING. FAITH ACADEMY GRADUATED ITS SIXTH 6TH GRADE CLASS. HOWEVER, MANY OF THESE 6TH GRADE GRADUATES REMAINED AT FAITH ACADEMY SINCE FAITH ACADEMY ADDED 7TH GRADE THIS YEAR.
Expenses $1,508,094 · Revenue $43,387
As filed on the 2024 return.
Listed in Part VII
-
David AspreyDAVID ASPREY
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 2
-
Richard HoeferRICHARD HOEFER
TREASURER
- Total calculated
- $0
- Hours/week
- 15
-
Jill SchlottJILL SCHLOTT
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Danice Keating Left 2025DANICE KEATING LEFT 2025
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Brandi RadcliffeBRANDI RADCLIFFE
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
-
Delbert Denny New 2025DELBERT DENNY NEW 2025
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jeff Dodge New 2025JEFF DODGE NEW 2025
DIRECTOR
- 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
- 9 April 2026
- IRS schema version
- 2024v5.0
- Source object
- 202611009349300231
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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