Totals
- Total revenue
- $1,151,204
- Total expenses
- $1,162,440
- Contributions and grants received
- $201,137
- Grants paid
- $0
- Program service revenue
- $947,868
- Investment income
- $2,199
- Other revenue
- $0
- Total assets, end of year
- $106,396
- Total liabilities, end of year
- $50,817
- Net assets or fund balances, end of year
- $55,579
- Program services expenses (Part IX)
- $1,088,360
- Management and general expenses
- $42,172
- Fundraising expenses
- $31,908
- Program service expenses (Part III)
- $1,088,360
Program services were 93.6% 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.
-
1c · Fundraising events
$201,137
-
2a · Program service revenue: Tuition
total $781,546 · related or exempt $781,546
-
2b · Program service revenue: Student Fees
total $147,072 · related or exempt $147,072
-
2c · Program service revenue: Field Trips
total $14,907 · related or exempt $14,907
-
2d · Program service revenue: Yearbook
total $3,967 · related or exempt $3,967
-
2e · Program service revenue: School Event
total $376 · related or exempt $376
-
3 · Investment income
total $2,199 · unrelated business $2,199
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$201,137
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $67,200 · program services $50,400 · management and general $16,800
-
7 · Other salaries and wages
total $571,701 · program services $551,425 · management and general $13,650 · fundraising $6,626
-
10 · Payroll taxes
total $45,579 · program services $42,846 · management and general $2,329 · fundraising $404
-
11c · Fees: accounting
total $1,107 · program services $1,079 · management and general $28
-
13 · Office expenses
total $14,167 · program services $13,813 · management and general $354
-
16 · Occupancy
total $337,063 · program services $328,636 · management and general $8,427
-
22 · Depreciation, depletion and amortization
total $289 · program services $289
-
24a · Other expenses: Program Expenses
total $82,466 · program services $82,466
-
24b · Other expenses: Fundraising Expenses
total $24,807 · fundraising $24,807
-
24c · Other expenses: Payroll Fees
total $7,088 · program services $6,663 · management and general $354 · fundraising $71
-
24d · Other expenses: Electricity
total $3,710 · program services $3,617 · management and general $93
-
24e · All other expenses
total $7,263 · program services $7,126 · management and general $137
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $13,023 · end of year $10,284
-
2 · Savings and temporary cash investments
beginning of year $72,323 · end of year $57,464
-
4 · Accounts receivable
beginning of year $0 · end of year $265
-
10a · Land, buildings and equipment: cost or other basis
$38,672
-
10b · Land, buildings and equipment: accumulated depreciation
$289
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $38,383
-
17 · Accounts payable and accrued expenses
beginning of year $8,648 · end of year $30,000
-
25 · Other liabilities
beginning of year $9,883 · end of year $20,817
-
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 $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $66,815 · end of year $55,579
Mission and programs · 2024
Mission
Magnolia Heritage Academy is a homeschool hybrid campus. Our goal is to expand beyond traditional learning experiences with inspirational learning opportunities. At MHA, we believe in a partnership between teachers, parents, and students. We use Christian based curriculum and students attend three days a week.
-
During the 2024 school year, we taught 191 students 3 days per week during 2024.
Expenses $1,088,360 · Revenue $947,868
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Morgan Honeycutt
Director
- Total calculated
- $67,200
- From this org
- $67,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Terri Burton
Director
- Total calculated
- $0
- Hours/week
- 10
-
Brandy Williams
Director
- Total calculated
- $0
- Hours/week
- 15
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
- 28 July 2025
- IRS schema version
- 2024v5.2
- Source object
- 202502249349302955
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