Civic Intelligence

Zarephath Academy Inc

990 • Fiscal year 2022 • EIN 26-3298970

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 16, 2022

Organization Profilewww.zarephathacademy.com
1028 E 10th St/Jacksonville, FL 32206-3912

(904) 566-7549

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

17.14x

Higher debt load relative to assets than 100% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

88th percentile

1.08x

Higher debt load relative to revenue than 88% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

50th percentile

6.8%

Higher net margin than 50% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2021 to 2022

Revenue Growth

46th percentile

3.4%

Faster revenue growth than 46% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets100th percentile

Assets

Up

$106,075

Up $265,319 (+167%) from 2021

Net Assets

Down

-$1,712,164

Down $1,121,571 (-190%) from 2021

Liabilities

Up

$1,818,239

Up $1,386,890 (+322%) from 2021

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin50th percentile

Revenue

Up

$1,686,409

Up $55,454 (+3.4%) from 2021

Expenses

Down

$1,571,083

Down $428,901 (-21%) from 2021

Net Income

Up

$115,326

Up $484,355 (+131%) from 2021

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.0M$0-$1.0M-$2.0MAssets 2017: $61,639Liabilities 2017: $144,878Net Assets 2017: -$83,2392017Assets 2021: -$159,244Liabilities 2021: $431,349Net Assets 2021: -$590,5932021Assets 2022: $106,075Liabilities 2022: $1,818,239Net Assets 2022: -$1,712,1642022Assets 2023: $296,200Liabilities 2023: $1,495,566Net Assets 2023: -$1,199,3662023Assets 2024: $274,018Liabilities 2024: $1,381,127Net Assets 2024: -$1,107,1092024

Highlighted filing

2022

Assets$106,075
Liabilities$1,818,239
Net Assets-$1,712,164
Open 2022 Filing

Operations Trend

Revenue Growth46th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $1,226,604Expenses 2017: $1,271,188Net Income 2017: -$44,5842017Revenue 2021: $1,630,955Expenses 2021: $1,999,984Net Income 2021: -$369,0292021Revenue 2022: $1,686,409Expenses 2022: $1,571,083Net Income 2022: $115,3262022Revenue 2023: $2,029,044Expenses 2023: $1,603,399Net Income 2023: $425,6452023Revenue 2024: $1,839,648Expenses 2024: $1,667,318Net Income 2024: $172,3302024

Highlighted filing

2022

Revenue$1,686,409
Expenses$1,571,083
Net Income$115,326
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 16, 2022
Return Version
2021v4.2
Gross Receipts
$1,686,409
Mission and Program Overview

Mission

The school receives scholarship assitance from the state of Florida and tuition payments from the families of its students. The tuition is not tax deductible.

The school is a K-12 institution that provides faith-based education to all students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$141,700$131,737▼ $9,963
Cash and Non-Interest-Bearing Accounts$-155,625$-2,891▲ $152,734
Savings and Temporary Cash Investments$-3,619$-22,771▼ $19,152
Total Assets$-159,244$106,075▲ $265,319
Other Assets Total$-141,700--
Liabilities
Other Liabilities-$1,790,247-
Accounts Payable and Accrued Expenses$431,349--
Mortgage Notes Payable Secured by Investment Property-$27,992-
Total Liabilities$431,349$1,818,239▲ $1,386,890
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-590,593$-1,712,164▼ $1,121,571
Total Net Assets Fund Balance$-590,593$-1,712,164▼ $1,121,571
Total Liabilities and Net Assets / Fund Balance$-159,244$106,075▲ $265,319

Asset Categories

AssetBook ValueDepreciationBasis
Land$80,000-$80,000
Equipment$51,737$9,963$61,700
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Denise BrantDirector
Jerry BrantExecutive Director
Patricia MingoPrincipal
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,686,409
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$115,326
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,071,172
Other Expenses$499,911
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$963,541--$963,541
Payroll Taxes$101,057--$101,057
Occupancy$69,866--$69,866
Fees for Services Legal-$42,915-$42,915
Fees for Services Accounting-$24,949-$24,949
Office Expenses$19,602--$19,602
Other Expenses$9,714--$9,714
Other Employee Benefits$6,574--$6,574
Total Functional Expenses$1,503,219$67,864$0$1,571,083
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
IRS Payroll Taxes Payable$850,000
Loan from Jerry Brant$798,000
Hartford Workers COmp INsurance$41,488
SMS Financial$40,000
Coach Ivory$38,269
Progressive Insurance Auto Insurance$8,200
Scottsdale Property Insurance$7,242
Payroll Liabilities$4,934
Penn America Insurance$4,872
GMC Sierra-
Federal income taxes$-2,758
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

Filer Name
Zarephath Academy Inc
EIN
26-3298970
Phone
9045667549
Address
1028 E 10th St/, Jacksonville, FL 32206-3912

Signing Officer

Name
Jerry Brant
Title
Executive Director
Phone
9045667549
Signed
2022-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Brant
Formed
2008
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
0
Employees
20

Preparer

Firm
Keith E Johnson CPA PA
Address
2528 Wedgefield Blvd, Jacksonville, FL 32211
Preparer
Keith E Johnson
Phone
9047270077
Supplemental Narrative

Additional Explanations

Form 990, Part I, Section 2, Line 9

“Exempt Organization receives revenue primarily for the Florida Tax Credit Scholarship Program through the State of Florida. They use the tuition to fund their private, faith-based K-12 school”

Raw XML Appendix344 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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ReturnHeader/BusinessOfficerGrp/PersonNm0Jerry Brant
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum09045667549
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Zarephath Academy Inc
ReturnHeader/Filer/BusinessNameControlTxt0ZARE
ReturnHeader/Filer/EIN0263298970
ReturnHeader/Filer/PhoneNum09045667549
ReturnHeader/Filer/USAddress/AddressLine1Txt01028 E 10th St/
ReturnHeader/Filer/USAddress/CityNm0Jacksonville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd0322063912
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593750387
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Keith E Johnson CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02528 Wedgefield Blvd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Jacksonville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032211
ReturnHeader/PreparerPersonGrp/PhoneNum09047270077
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Keith E Johnson
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-11-16T04:58:23-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Jerry
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Brant
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$106,075
Liabilities
$1,818,239
Net assets
-$1,712,164
Revenue
$1,686,409
Expenses
$1,571,083
Net income
$115,326
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.27$1.38$1.11$1.84$1.67$0.17
2023Detailed filing. Detailed filing data is available for this year.$0.30$1.50$1.20$2.03$1.60$0.43
2022Detailed filing. Detailed filing data is available for this year.$0.11$1.82$1.71$1.69$1.57$0.12
2021Detailed filing. Detailed filing data is available for this year.$0.16$0.43$0.59$1.63$2.00$0.37
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.14$0.08$1.23$1.27$0.04