Civic Intelligence

Grace Covenant Academy

990 • Fiscal year 2019 • EIN 27-0533151

Jun 01, 2018 to May 31, 2019 • Filed on Apr 15, 2020

Organization Profilewww.gcafrisco.org
8000 Sanctuary DriveFrisco, TX 75033

(469) 734-6466

Siviq Scores

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

Liabilities / Assets

94th percentile

1.01x

Higher debt load relative to assets than 94% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

78th percentile

0.24x

Higher debt load relative to revenue than 78% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

43rd percentile

1.3%

Higher net margin than 43% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

71st percentile

$60,000

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 7.0% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

95th percentile

116%

Faster asset growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2019

Revenue Growth

73rd percentile

22%

Faster revenue growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2019

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$207,654

Up $163,129 (+366%) from 2017

Net Assets

Down

-$1,265

Down $37,839 (-103%) from 2017

Liabilities

Up

$208,919

Up $200,968 (+2528%) from 2017

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin43rd percentile

Revenue

Up

$862,031

Up $279,300 (+48%) from 2017

Expenses

Up

$851,115

Up $282,148 (+50%) from 2017

Net Income

Down

$10,916

Down $2,848 (-21%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth95th 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

2019

Assets$207,654
Liabilities$208,919
Net Assets-$1,265
Open 2019 Filing

Operations Trend

Revenue Growth73rd 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

2019

Revenue$862,031
Expenses$851,115
Net Income$10,916
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2018 to May 31, 2019
Signed
Apr 15, 2020
Return Version
2018v3.1
Gross Receipts
$877,067
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$150,079$204,385▲ $54,306
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$153,348$207,654▲ $54,306
Other Assets Total$3,269$3,269→ $0
Liabilities
Deferred Revenue-$179,018-
Other Liabilities$165,630$25,676▼ $139,954
Accounts Payable and Accrued Expenses-$4,225-
Total Liabilities$165,630$208,919▲ $43,289
Net Assets / Fund Balance
Unrestricted Net Assets$-12,282$-1,265▲ $11,017
Total Net Assets Fund Balance$-12,282$-1,265▲ $11,017
Total Liabilities and Net Assets / Fund Balance$153,348$207,654▲ $54,306
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brian SmithExecutive DirectorFT$60,000$60,000
Amy SmithDirectorFT$42,000$42,000

Board Members and Trustees

NameTitle
Bob HughesTrustee
Brian WebsterTrustee
Fred ShawTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$11,417
Program Service Revenue
$821,889
Investment Income
$762
Other Revenue
$27,963
All Other Contributions
$11,417
Change in Net Assets
$10,916
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$622,315
Other Expenses$228,800
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$346,692$115,564-$462,256
Current Officers, Directors, Trustees, and Key Employees$76,500$25,500-$102,000
Occupancy$86,379--$86,379
Payroll Taxes$38,624$4,292-$42,916
Office Expenses$29,261--$29,261
Other Employee Benefits$13,629$1,514-$15,143
All Other Expenses$13,622--$13,622
Other Expenses$7,099--$7,099
Travel$3,680--$3,680
Insurance$2,121--$2,121
Fees for Services Accounting-$1,650-$1,650
Advertising$737--$737
Total Functional Expenses$702,595$148,520$0$851,115
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$42,999
Fundraising Direct Expenses$15,036
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
5k$27,107$27,107$2,711$24,396
Auction$13,044$13,044$1,859$11,185
Total Events$40,151$40,151$14,506$25,645
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 Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Scholarship Donated Funds$20,690
Payroll Liabilities$4,986
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Amy Smith wife”

Form 990, Part VI, Line 11B: Form 990 Review Process

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

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Grace Covenant Academy
EIN
27-0533151
Phone
4697346466
Address
8000 Sanctuary Drive, Frisco, TX 75033

Signing Officer

Name
Brian Smith
Title
Director
Signed
2020-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Smith
Formed
2009
Voting Board Members
4
Independent Board Members
3
Employees
44

Preparer

Firm
CKC CPAs & Advisors
Address
2600 ElDorado Pkwy Ste 120, McKinney, TX 75070
Preparer
Jovany Cossio
Phone
2147285120
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Yes- published on website
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm05K
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0Auction
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt027107
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt013044
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt040151
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt027107
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt013044
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt040151
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt025645
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt04570
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt02711
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt01859
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt02414
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent2Amt07522
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt09936
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Amy Smith wife
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The board members associated with/involved in the financial management have reviewed the return with the school controller and outside CPA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0207654
IRS990/TotalAssetsGrp/BOYAmt0153348
IRS990/TotalAssetsGrp/EOYAmt0207654
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt011417
IRS990/TotalEmployeeCnt044
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0148520
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0702595
IRS990/TotalFunctionalExpensesGrp/TotalAmt0851115
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0165630
IRS990/TotalLiabilitiesEOYAmt0208919
IRS990/TotalLiabilitiesGrp/BOYAmt0165630
IRS990/TotalLiabilitiesGrp/EOYAmt0208919
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-12282
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1265
IRS990/TotalProgramServiceExpensesAmt0702595
IRS990/TotalProgramServiceRevenueAmt0821889
IRS990/TotalReportableCompFromOrgAmt0102000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0822651
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0862031
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0153348
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0207654
IRS990/TravelGrp/ProgramServicesAmt03680
IRS990/TravelGrp/TotalAmt03680
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-12282
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1265
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/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Brian Smith
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Grace Covenant Academy
ReturnHeader/Filer/BusinessNameControlTxt0GRAC
ReturnHeader/Filer/EIN0270533151
ReturnHeader/Filer/PhoneNum04697346466
ReturnHeader/Filer/USAddress/AddressLine1Txt08000 Sanctuary Drive
ReturnHeader/Filer/USAddress/CityNm0Frisco
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075033
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0832545942
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CKC CPAs & Advisors
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02600 ElDorado Pkwy Ste 120

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$207,654
Liabilities
$208,919
Net assets
-$1,265
Revenue
$862,031
Expenses
$851,115
Net income
$10,916
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
2019Detailed filing. Detailed filing data is available for this year.$0.21$0.21$0.00$0.86$0.85$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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