Civic Intelligence

Grace Covenant Academy

990 • Fiscal year 2017 • EIN 27-0533151

Jun 01, 2016 to May 31, 2017 • Filed on Jan 11, 2018

Organization ProfileWWW.GCAFRISCO.ORG
8000 Sanctuary DrFrisco, TX 75033

(469) 734-6466

Siviq Scores

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

Liabilities / Assets

70th percentile

0.18x

Higher debt load relative to assets than 70% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

40th percentile

0.01x

Higher debt load relative to revenue than 40% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

47th percentile

2.4%

Higher net margin than 47% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

71st percentile

$60,000

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 10.3% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

94th percentile

95%

Faster asset growth than 94% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

81st percentile

37%

Faster revenue growth than 81% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$44,525

Up $21,715 (+95%) from 2016

Net Assets

Up

$36,574

Up $13,764 (+60%) from 2016

Liabilities

Up

$7,951

Up $7,951 from 2016

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin47th percentile

Revenue

Up

$582,731

Up $156,675 (+37%) from 2016

Expenses

Up

$568,967

Up $134,159 (+31%) from 2016

Net Income

Up

$13,764

Up $22,516 (+257%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$300K$200K$100K$0-$100KAssets 2016: $22,810Liabilities 2016: $0Net Assets 2016: $22,8102016Assets 2017: $44,525Liabilities 2017: $7,951Net Assets 2017: $36,5742017Assets 2019: $207,654Liabilities 2019: $208,919Net Assets 2019: -$1,2652019Assets 2021: $151,771Liabilities 2021: $72,949Net Assets 2021: $78,8222021Assets 2022: $154,195Liabilities 2022: $77,948Net Assets 2022: $76,2472022

Highlighted filing

2017

Assets$44,525
Liabilities$7,951
Net Assets$36,574
Open 2017 Filing

Operations Trend

Revenue Growth81st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2016: $426,056Expenses 2016: $434,808Net Income 2016: -$8,7522016Revenue 2017: $582,731Expenses 2017: $568,967Net Income 2017: $13,7642017Revenue 2019: $862,031Expenses 2019: $851,115Net Income 2019: $10,9162019Revenue 2021: $905,888Expenses 2021: $839,587Net Income 2021: $66,3012021Revenue 2022: $1,140,162Expenses 2022: $1,032,340Net Income 2022: $107,8222022

Highlighted filing

2017

Revenue$582,731
Expenses$568,967
Net Income$13,764
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2016 to May 31, 2017
Signed
Jan 11, 2018
Return Version
2016v3.1
Gross Receipts
$582,731
Mission and Program Overview

Mission

To assist and coach Christian parents in educating their children in a gospel-centered, academically excellent environment, teaching students to view all things through God's Word, cultivate a love for Him, apply His truth, and make His name known in the world.

To assist and coach christian parents in educating their children in a gospel centered, academically excellent context; to teach students to examine all things in light of god's word, cultivating a love for god, applying his truth and enabling them to make his name known in the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$21,524$41,256▲ $19,732
Total Assets$22,810$44,525▲ $21,715
Other Assets Total$1,286$3,269▲ $1,983
Liabilities
Other Liabilities-$7,951-
Total Liabilities$0$7,951▲ $7,951
Net Assets / Fund Balance
Unrestricted Net Assets$22,810$36,574▲ $13,764
Total Net Assets Fund Balance$22,810$36,574▲ $13,764
Total Liabilities and Net Assets / Fund Balance$22,810$44,525▲ $21,715

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,360--
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brian SmithHead of SchoFT$60,000$60,000
Amy SmithElementary PFT$35,000$35,000

Board Members and Trustees

NameTitle
Bob HughesBoard Member
Brian WebsterBoard Member
Fred ShawBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$51,852
Program Service Revenue
$530,879
Investment Income
$0
Other Revenue
$0
All Other Contributions
$51,852
Change in Net Assets
$13,764
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$395,736
Other Expenses$173,231
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$272,312$30,257-$302,569
Fees for Services Other$90,050--$90,050
Current Officers, Directors, Trustees, and Key Employees$60,000--$60,000
Occupancy$59,344--$59,344
Payroll Taxes$33,167--$33,167
Office Expenses$16,349--$16,349
Travel$4,190--$4,190
Fees for Services Accounting-$3,298-$3,298
Total Functional Expenses$535,412$33,555$0$568,967
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
Other Liabilities$7,720
Direct Deposit Liabilities$231
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“AMY SMITH WIFE”

Form 990, Page 6, Part VI, Line 11B

“The board members associated with/involved in the financial mgmt have reviewed the return with the school controller and outside cpa.”

Form 990, Page 6, Part VI, Line 15A

“Reviewed and voted on by bod”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Grace Covenant Academy
EIN
27-0533151
Phone
4697346466
Address
8000 SANCTUARY DR, FRISCO, TX 75033

Signing Officer

Name
Amy Smith
Title
Elementary Principal
Phone
4697346466
Signed
2018-01-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Smith
Formed
2009
Voting Board Members
4
Independent Board Members
3
Employees
33

Preparer

Firm
Stephen Kyle Callaway CPA
Address
2600 ELDORADO PKWY STE 120, MCKINNEY, TX 75070-7517
Preparer
S Kyle Callaway CPA
Phone
2147285120
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To assist and coach christian parents in educating their children in a gospel centered, academically excellent context; to teach students to examine all things in light of god's word, cultivating a love for god, applying his truth and enabling them to make his name known in the world.”

Form 990, Page 2, Part III, Line 4D

“To assist and coach christian parents in educating their children in a gospel centered, academically excellent context; to teach students to examine all things in light of god's word, cultivating a love for god, applying his truth and enabling them to make his name known in the world”

Form 990, Part IX, Line 11G

“Classroom expenses 34,978 0 0 teacher resources 11,498 0 0 student testing 10,582 0 0 other 32,992 0 0 total 90,050 0 0”

Raw XML Appendix312 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ASSIST AND COACH CHRISTIAN PARENTS IN EDUCATING THEIR CHILDREN IN A GOSPEL CENTERED, ACADEMICALLY EXCELLENT CONTEXT; TO TEACH STUDENTS TO EXAMINE ALL THINGS IN LIGHT OF GOD'S WORD, CULTIVATING A LOVE FOR GOD, APPLYING HIS TRUTH AND ENABLING THEM TO MAKE HIS NAME KNOWN IN THE WORLD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO ASSIST AND COACH CHRISTIAN PARENTS IN EDUCATING THEIR CHILDREN IN A GOSPEL CENTERED, ACADEMICALLY EXCELLENT CONTEXT; TO TEACH STUDENTS TO EXAMINE ALL THINGS IN LIGHT OF GOD'S WORD, CULTIVATING A LOVE FOR GOD, APPLYING HIS TRUTH AND ENABLING THEM TO MAKE HIS NAME KNOWN IN THE WORLD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AMY SMITH WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD MEMBERS ASSOCIATED WITH/INVOLVED IN THE FINANCIAL MGMT HAVE REVIEWED THE RETURN WITH THE SCHOOL CONTROLLER AND OUTSIDE CPA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REVIEWED AND VOTED ON BY BOD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CLASSROOM EXPENSES 34,978 0 0 TEACHER RESOURCES 11,498 0 0 STUDENT TESTING 10,582 0 0 OTHER 32,992 0 0 TOTAL 90,050 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt022810
IRS990/UnrestrictedNetAssetsGrp/EOYAmt036574
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08000 SANCTUARY DRIVE
IRS990/USAddress/CityNm0FRISCO
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075033
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.GCAFRISCO.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0AMY SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0ELEMENTARY PRINCIPAL
ReturnHeader/BusinessOfficerGrp/PhoneNum04697346466
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-01-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRACE COVENANT ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0GRAC
ReturnHeader/Filer/EIN0270533151
ReturnHeader/Filer/PhoneNum04697346466
ReturnHeader/Filer/USAddress/AddressLine1Txt08000 SANCTUARY DR
ReturnHeader/Filer/USAddress/CityNm0FRISCO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075033
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07C93567085C90FA19A99DF92345B563C86B15BEB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId04604BCD0CAC07DAB831B0068EB629CB56AA544CF
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0455525672
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STEPHEN KYLE CALLAWAY CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02600 ELDORADO PKWY STE 120
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MCKINNEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0750707517
ReturnHeader/PreparerPersonGrp/PhoneNum02147285120
ReturnHeader/PreparerPersonGrp/PreparationDt02018-01-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0S KYLE CALLAWAY CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-01-24T13:20:38-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-06-01
ReturnHeader/TaxPeriodEndDt02017-05-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$44,525
Liabilities
$7,951
Net assets
$36,574
Revenue
$582,731
Expenses
$568,967
Net income
$13,764
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.15$0.08$0.08$1.14$1.03$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.15$0.07$0.08$0.91$0.84$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.21$0.21$0.00$0.86$0.85$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.04$0.01$0.04$0.58$0.57$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.43$0.43$0.01