Civic Intelligence

Zarephath Academy Inc

990 • Fiscal year 2023 • EIN 26-3298970

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 03, 2023

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

5.05x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

85th percentile

0.74x

Higher debt load relative to revenue than 85% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

75th percentile

21%

Higher net margin than 75% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

97th percentile

179%

Faster asset growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

67th percentile

20%

Faster revenue growth than 67% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets100th percentile

Assets

Up

$296,200

Up $190,125 (+179%) from 2022

Net Assets

Up

-$1,199,366

Up $512,798 (+30%) from 2022

Liabilities

Down

$1,495,566

Down $322,673 (-18%) from 2022

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin75th percentile

Revenue

Up

$2,029,044

Up $342,635 (+20%) from 2022

Expenses

Up

$1,603,399

Up $32,316 (+2.1%) from 2022

Net Income

Up

$425,645

Up $310,319 (+269%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

2023

Assets$296,200
Liabilities$1,495,566
Net Assets-$1,199,366
Open 2023 Filing

Operations Trend

Revenue Growth67th 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

2023

Revenue$2,029,044
Expenses$1,603,399
Net Income$425,645
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 3, 2023
Return Version
2022v5.0
Gross Receipts
$2,029,044
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$146,754$136,791▼ $9,963
Receivables From Officers Etc-$85,287-
Cash and Non-Interest-Bearing Accounts$-2,891$74,122▲ $77,013
Loans From Officers Directors-$34,209-
Savings and Temporary Cash Investments$-22,771--
Rtn Earn Endowment Incm Other Fnds$-1,697,147$-1,199,366▲ $497,781
Total Assets$121,092$296,200▲ $175,108
Liabilities
Other Liabilities$1,790,247--
Mortgage Notes Payable Secured by Investment Property$27,992$1,421,357▲ $1,393,365
Unsecured Notes Loans Payable-$40,000-
Total Liabilities$1,818,239$1,495,566▼ $322,673
Net Assets / Fund Balance
Total Net Assets Fund Balance$-1,697,147$-1,199,366▲ $497,781
Total Liabilities and Net Assets / Fund Balance$121,092$296,200▲ $175,108

Asset Categories

AssetBook ValueDepreciationBasis
Land$80,000-$80,000
Other Land Buildings$40,037$5,463$45,500
Equipment$16,754$4,500$21,254
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
$2,028,844
Investment Income
$200
Other Revenue
$0
Change in Net Assets
$425,645
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$803,132
Salaries, Compensation, and Employee Benefits$797,087
Grants and Similar Amounts Paid$3,180
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$751,524--$751,524
Occupancy$167,634--$167,634
Fees for Services Legal-$74,609-$74,609
Payroll Taxes$45,563--$45,563
Insurance$43,892--$43,892
Office Expenses$37,258--$37,258
Depreciation Depletion$9,963--$9,963
Advertising-$9,659-$9,659
Travel$4,256--$4,256
Other Expenses$4,149--$4,149
Grants to Domestic Orgs$3,180--$3,180
Total Functional Expenses$1,519,131$84,268$0$1,603,399
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees-$85,287-
Loans from Officers, Directors, Trustees, and Key Employees-$34,209-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Payroll Liabilities-
Penn America Insurance-
Progressive Insurance Auto Insurance-
Scottsdale Property Insurance-
Hartford Workers COmp INsurance-
Loan from Jerry Brant-
IRS Payroll Taxes Payable-
SMS Financial-
Coach Ivory-
GMC Sierra-
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
2023-11-03
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
30

Preparer

Firm
Keith E Johnson CPA PA
Address
1621 Emerson Street, Jacksonville, FL 32207
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 Appendix362 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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IRS990/TotalProgramServiceExpensesAmt01519131
IRS990/TotalProgramServiceRevenueAmt02028844
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02028844
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02029044
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0200
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0121092
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0296200
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt04256
IRS990/TravelGrp/TotalAmt04256
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt040000
IRS990/USAddress/AddressLine1Txt01028 East 10th St
IRS990/USAddress/CityNm0Jacksonville
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd0322063912
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0www.zarephathacademy.com
IRS990/WhistleblowerPolicyInd0true
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jerry Brant
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum09045667549
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-03
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/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593750387
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Keith E Johnson CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01621 Emerson Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Jacksonville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd032207
ReturnHeader/PreparerPersonGrp/PhoneNum09047270077
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Keith E Johnson
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-11-03T02:01:23-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Jerry
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Brant
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$296,200
Liabilities
$1,495,566
Net assets
-$1,199,366
Revenue
$2,029,044
Expenses
$1,603,399
Net income
$425,645
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