Civic Intelligence

Grace Classical Christian Academy

990 • Fiscal year 2024 • EIN 45-2949553

Jun 01, 2023 to May 31, 2024 • Filed on Oct 14, 2024

Organization ProfileWWW.GRACECLASSICAL.COM
PO Box 41Granbury, TX 76048

(817) 771-4951

Siviq Scores

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

Liabilities / Assets

56th percentile

0.10x

Higher debt load relative to assets than 56% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

0.09x

Higher debt load relative to revenue than 53% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

76th percentile

24%

Higher net margin than 76% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

90th percentile

51%

Faster asset growth than 90% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

41st percentile

3.4%

Faster revenue growth than 41% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$1,437,093

Up $484,743 (+51%) from 2023

Net Assets

Up

$1,297,223

Up $363,630 (+39%) from 2023

Liabilities

Up

$139,870

Up $121,113 (+646%) from 2023

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin76th percentile

Revenue

Up

$1,510,446

Up $49,015 (+3.4%) from 2023

Expenses

Up

$1,149,196

Up $213,385 (+23%) from 2023

Net Income

Down

$361,250

Down $164,370 (-31%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $42,339Liabilities 2011: $02011Assets 2012: $24,451Liabilities 2012: $02012Assets 2014: $64,604Liabilities 2014: $02014Assets 2015: $28,294Liabilities 2015: $20,480Net Assets 2015: $7,8142015Assets 2016: $37,126Liabilities 2016: $38,894Net Assets 2016: -$1,7682016Assets 2017: $57,460Liabilities 2017: $89,049Net Assets 2017: -$31,5892017Assets 2018: $115,126Liabilities 2018: $85,743Net Assets 2018: $29,3832018Assets 2019: $573,055Liabilities 2019: $472,059Net Assets 2019: $100,9962019Assets 2020: $683,722Liabilities 2020: $498,328Net Assets 2020: $185,3942020Assets 2021: $797,605Liabilities 2021: $423,409Net Assets 2021: $374,1962021Assets 2022: $419,742Liabilities 2022: $11,770Net Assets 2022: $407,9722022Assets 2023: $952,350Liabilities 2023: $18,757Net Assets 2023: $933,5932023Assets 2024: $1,437,093Liabilities 2024: $139,870Net Assets 2024: $1,297,2232024Assets 2025: $3,678,145Liabilities 2025: $119,451Net Assets 2025: $3,558,6942025

Highlighted filing

2024

Assets$1,437,093
Liabilities$139,870
Net Assets$1,297,223
Open 2024 Filing

Operations Trend

Revenue Growth41st percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $51,000Expenses 2011: $8,661Net Income 2011: $42,3392011Revenue 2012: $100,950Expenses 2012: $118,838Net Income 2012: -$17,8882012Revenue 2014: $248,691Expenses 2014: $216,315Net Income 2014: $32,3762014Revenue 2015: $97,935Expenses 2015: $153,975Net Income 2015: -$56,0402015Revenue 2016: $307,185Expenses 2016: $316,767Net Income 2016: -$9,5822016Revenue 2017: $312,309Expenses 2017: $342,130Net Income 2017: -$29,8212017Revenue 2018: $481,693Expenses 2018: $420,721Net Income 2018: $60,9722018Revenue 2019: $478,976Expenses 2019: $407,363Net Income 2019: $71,6132019Revenue 2020: $661,198Expenses 2020: $576,801Net Income 2020: $84,3972020Revenue 2021: $674,799Expenses 2021: $485,997Net Income 2021: $188,8022021Revenue 2022: $911,510Expenses 2022: $877,734Net Income 2022: $33,7762022Revenue 2023: $1,461,431Expenses 2023: $935,811Net Income 2023: $525,6202023Revenue 2024: $1,510,446Expenses 2024: $1,149,196Net Income 2024: $361,2502024Revenue 2025: $2,997,525Expenses 2025: $896,169Net Income 2025: $2,101,3562025

Highlighted filing

2024

Revenue$1,510,446
Expenses$1,149,196
Net Income$361,250
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Oct 14, 2024
Return Version
2023v6.0
Gross Receipts
$1,531,534
Mission and Program Overview

Mission

The operation of a school to educate children from pre-kindergarten through high school with an emphasis on an historic christian worldview and related vigorous classical curriculum. During the 2020 - 2021 school year we had students enrolled in grades pre - kindergarten through eleventh grade.

The operation of a school to educate children from pre-kindergarten through high school with an emphasis on an historic christian worldview and related vigorous classical curriculum. During the current school year we had students enrolled in grades pre - kindergarten through twelfth grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$1,039,170-
Savings and Temporary Cash Investments$709,613$157,832▼ $551,781
Cash and Non-Interest-Bearing Accounts$76,060$84,807▲ $8,747
Accounts Receivable$49,739$51,260▲ $1,521
Investments Other Securities$23,639$11,571▼ $12,068
Prepaid Expenses and Deferred Charges$12,735$9,405▼ $3,330
Total Assets$952,350$1,437,093▲ $484,743
Other Assets Total$80,564$83,048▲ $2,484
Liabilities
Accounts Payable and Accrued Expenses$9,082$113,392▲ $104,310
Deferred Revenue$5,300$20,605▲ $15,305
Other Liabilities$4,375$5,873▲ $1,498
Total Liabilities$18,757$139,870▲ $121,113
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$933,593$1,297,223▲ $363,630
Total Net Assets Fund Balance$933,593$1,297,223▲ $363,630
Total Liabilities and Net Assets / Fund Balance$952,350$1,437,093▲ $484,743

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,039,170$493$2,463
Other Assets Org$83,048--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Ike ThomasBoard Member
Ryan ThomasBoard Member
Lucas FolegattiTreasurer
Brett CainVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$815,880
Program Service Revenue
$639,923
Investment Income
$8,790
Other Revenue
$45,853
All Other Contributions
$815,880
Change in Net Assets
$361,250
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$981,657
Other Expenses$167,539
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$871,005--$871,005
Payroll Taxes$76,185--$76,185
Occupancy$67,198--$67,198
Other Employee Benefits$34,467--$34,467
Fees for Services Other$11,910--$11,910
Fees for Services Accounting$4,431$4,395-$8,826
Office Expenses$7,312--$7,312
Insurance$2,846--$2,846
Advertising$1,425--$1,425
Other Expenses$946--$946
Information Technology$558--$558
Depreciation Depletion$493--$493
Total Functional Expenses$1,144,801$4,395$0$1,149,196
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$61,346
Gaming Direct Expenses$21,088
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
Credit Cards$5,873
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
No
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

“Ike thomas ryanthomas board member board member family relationship”

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

“Form 990 is reviewed by the business manager and board treasurer. A copy of the form 990 is available for review by board members upon request.”

Form 990, Page 6, Part VI, Line 12C

“A conflict of interest questionnaire is filled out by officers and key employees and reviewed by the board on an annual basis.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available in the main office upon request.”

Filing and Contact Details

Filer

Filer Name
Grace Classical Christan Academy
EIN
45-2949553
Phone
8177714951
Address
PO BOX 41, GRANBURY, TX 76048

Signing Officer

Name
Lucas Folegatti
Title
Treasurer
Phone
6824983833
Signed
2024-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lucas Folegatti
Formed
2011
Legal Domicile
TX
Voting Board Members
4
Independent Board Members
4
Employees
31
Volunteers
50

Preparer

Firm
Hooper Langley & Associates Pc
Address
5310 E US HIGHWAY 377, GRANBURY, TX 76049
Preparer
Cameron Hooper CPA
Phone
8173578670
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The operation of a school to educate children from pre-kindergarten through high school with an emphasis on an historic christian worldview and related vigorous classical curriculum. During the current school year we had students enrolled in grades pre - kindergarten through twelfth grade.”

Raw XML Appendix397 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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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0493
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IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
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IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0OUR NON-DISCRIMINATORY POLICY IS PRINTED IN OUR RECRUITMENT BROCHURE, APPLICATION PACKETS, STUDENT/PAPER HANDBOOKS, STAFF HANDBOOKS, SCHOOL POLICY MANUALS, AND ON OUR WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
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IRS990ScheduleG/GamingInformationGrp/GrossRevenueOtherGamingAmt061346
IRS990ScheduleG/GamingInformationGrp/GrossRevenueTotalGamingAmt061346
IRS990ScheduleG/GamingInformationGrp/NetGamingIncomeSummaryAmt040258
IRS990ScheduleG/GamingInformationGrp/OthDirectExpnssOtherGamingAmt021088
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IRS990ScheduleG/MemberOfOtherEntityInd0false
IRS990ScheduleG/PersonsWithBooksName/BusinessNameLine1Txt0HOOPER LANGLEY & ASSOCIATES PC
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE OPERATION OF A SCHOOL TO EDUCATE CHILDREN FROM PRE-KINDERGARTEN THROUGH HIGH SCHOOL WITH AN EMPHASIS ON AN HISTORIC CHRISTIAN WORLDVIEW AND RELATED VIGOROUS CLASSICAL CURRICULUM. DURING THE CURRENT SCHOOL YEAR WE HAD STUDENTS ENROLLED IN GRADES PRE - KINDERGARTEN THROUGH TWELFTH GRADE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IKE THOMAS RYANTHOMAS BOARD MEMBER BOARD MEMBER FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE BUSINESS MANAGER AND BOARD TREASURER. A COPY OF THE FORM 990 IS AVAILABLE FOR REVIEW BY BOARD MEMBERS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A CONFLICT OF INTEREST QUESTIONNAIRE IS FILLED OUT BY OFFICERS AND KEY EMPLOYEES AND REVIEWED BY THE BOARD ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE IN THE MAIN OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0LUCAS FOLEGATTI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06824983833
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRACE CLASSICAL CHRISTAN ACADEMY
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRANBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076049
ReturnHeader/PreparerPersonGrp/PhoneNum08173578670
ReturnHeader/PreparerPersonGrp/PreparationDt02025-03-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CAMERON HOOPER CPA
ReturnHeader/ReturnTs02025-03-20T10:57:20-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-06-01
ReturnHeader/TaxPeriodEndDt02024-05-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,437,093
Liabilities
$139,870
Net assets
$1,297,223
Revenue
$1,510,446
Expenses
$1,149,196
Net income
$361,250
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.68$0.12$3.56$3.00$0.90$2.10
2024Detailed filing. Detailed filing data is available for this year.$1.44$0.14$1.30$1.51$1.15$0.36
2023Detailed filing. Detailed filing data is available for this year.$0.95$0.02$0.93$1.46$0.94$0.53
2022Detailed filing. Detailed filing data is available for this year.$0.42$0.01$0.41$0.91$0.88$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.80$0.42$0.37$0.67$0.49$0.19
2020Detailed filing. Detailed filing data is available for this year.$0.68$0.50$0.19$0.66$0.58$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.57$0.47$0.10$0.48$0.41$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.12$0.09$0.03$0.48$0.42$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.09$0.03$0.31$0.34$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.04$0.04$0.00$0.31$0.32$0.01
2015Summary only. Only limited summary data is available for this year.$0.03$0.02$0.01$0.10$0.15$0.06
2014Summary only. Only limited summary data is available for this year.$0.06$0.00$0.25$0.22$0.03
2012Summary only. Only limited summary data is available for this year.$0.02$0.00$0.10$0.12$0.02
2011Summary only. Only limited summary data is available for this year.$0.04$0.00$0.05$0.01$0.04