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← TWELVE STONES CHRISTIAN ACADEMY

Form 990 for tax year 2022

Filed by TWELVE STONES CHRISTIAN ACADEMY.

Totals

Total revenue
$773,814
Total expenses
$1,276,281
Contributions and grants received
$165,464
Grants paid
$149,224
Program service revenue
$608,350
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,844,628
Total liabilities, end of year
$2,924,425
Net assets or fund balances, end of year
-$1,079,797
Program services expenses (Part IX)
$1,276,281
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,276,281

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.

  • 1f · All other contributions, gifts and grants

    $165,464

  • 2a · Program service revenue: Tuition

    total $574,828 · related or exempt $574,828

  • 2b · Program service revenue: Education Fees

    total $33,522 · related or exempt $33,522

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $149,224 · program services $149,224

  • 7 · Other salaries and wages

    total $726,174 · program services $726,174

  • 9 · Other employee benefits

    total $80,055 · program services $80,055

  • 10 · Payroll taxes

    total $52,668 · program services $52,668

  • 11c · Fees: accounting

    total $20,965 · program services $20,965

  • 12 · Advertising and promotion

    total $7,455 · program services $7,455

  • 13 · Office expenses

    total $146,487 · program services $146,487

  • 16 · Occupancy

    total $33,213 · program services $33,213

  • 17 · Travel

    total $7,359 · program services $7,359

  • 19 · Conferences, conventions and meetings

    total $1,788 · program services $1,788

  • 22 · Depreciation, depletion and amortization

    total $26,343 · program services $26,343

  • 23 · Insurance

    total $2,904 · program services $2,904

  • 24a · Other expenses: Equipment Rental

    total $6,606 · program services $6,606

  • 24b · Other expenses: Telephone

    total $6,129 · program services $6,129

  • 24c · Other expenses: Cost of Sales

    total $3,842 · program services $3,842

  • 24d · Other expenses: Dues and subscriptions

    total $3,034 · program services $3,034

  • 24e · All other expenses

    total $2,035 · program services $2,035

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,899 · end of year $101

  • 4 · Accounts receivable

    beginning of year $453,907 · end of year $0

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

    $1,866,503

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

    $38,790

  • 10c · Land, buildings and equipment, net

    beginning of year $1,764,677 · end of year $1,827,713

  • 15 · Other assets

    beginning of year $34,073 · end of year $16,814

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,769,541 · end of year $2,904,458

  • 19 · Deferred revenue

    beginning of year $30,256 · end of year $0

  • 25 · Other liabilities

    beginning of year $37,089 · end of year $19,967

  • 27 · Net assets without donor restrictions

    beginning of year -$577,330 · end of year -$1,079,797

Mission and programs · 2022

Mission

With academic excellence, the Academy partners with Christian parents in their roles of educating and discipling their children. We stand on the authority of God's Word in all areas, and train students to think biblically and critically in all subjects.

Activities or mission (Part I)

Twelve Stones Christian Academy partners with christian parents in their roles of educating their children. The Academy strives for excellence in all educational pursuits.

  • Education of elementary and junior high students.

    Expenses $1,276,281 · Grants $149,224 · Revenue $608,350

As filed on the 2022 return.

Listed in Part VII

  • John Pinkston

    President

    Total calculated
    $0
    Hours/week
    5

  • Renee Hodge

    Treasurer

    Total calculated
    $70,334
    From this org
    $0
    From related orgs
    $69,833
    Other
    $501
    Hours/week
    40

  • Dr Georgia Purdom

    Board Member

    Total calculated
    $116,116
    From this org
    $0
    From related orgs
    $97,835
    Other
    $18,281
    Hours/week
    5

  • John Pence

    Secretary

    Total calculated
    $130,245
    From this org
    $0
    From related orgs
    $117,548
    Other
    $12,697
    Hours/week
    5 + 50 related

  • Dr Jennifer Rivera

    Board Member

    Total calculated
    $77,917
    From this org
    $0
    From related orgs
    $59,370
    Other
    $18,547
    Hours/week
    5

  • Eric Thomason

    Board Member

    Total calculated
    $0
    Hours/week
    5

  • Kenneth Ham

    Board Member

    Total calculated
    $261,955
    From this org
    $0
    From related orgs
    $250,637
    Other
    $11,318
    Hours/week
    5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,074 related
    Bonus
    $0
    Other
    $0 + $9,563 related
    Deferred
    $0 + $1,755 related
    Nontaxable benefits
    $0 + $9,563 related
    Filer's total
    $0 + $261,955 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 3
The organization relied on a related organization that used one or more of the methods in Question #3 to establish compensation.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • Answers in Genesis Inc

    501(c)(3) · Religious education · KY

  • Crosswater Canyon Inc

    501(c)(3) · Religious education · KY

    Directly controlled by Answers in Genesis

  • Answers in Genesis Canada

    501(c)(3) · Religious education · CA

  • Answers in Genesis Australia

    501(c)(3) · Religious education · AS

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Ark Encounter LLC

    Own, lease, develop property · MO · income $73,346,465 · assets $86,210,112

    Directly controlled by Crosswater Canyon Inc

  • Ark Development LLC

    Own, lease, develop property · KY · income $0 · assets $3,688,567

    Directly controlled by Answers in Genesis

  • Takenbac Enterprises

    Own, lease, develop property · KY · income $0 · assets $0

    Directly controlled by Answers in Genesis

  • Parking Lot Ventures

    Own, lease, develop property · KY · income $0 · assets $106,900

    Directly controlled by Answers Collective Inc

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Answers Collective Inc

    C · UBIT Depository - AiG · KY

Provenance

Return type
form_990
Tax year
2022
Filed
3 May 2024
IRS schema version
2022v5.0
Source object
202441289349300024

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