Civic Intelligence

Lead Academy Classical School

990 • Fiscal year 2022 • EIN 46-3044025

Jul 01, 2021 to Jun 30, 2022 • Filed on Dec 15, 2022

7121 Chumuckla HwyPace, FL 32571

(850) 995-1900

Siviq Scores

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

Liabilities / Assets

84th percentile

0.62x

Higher debt load relative to assets than 84% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

86th percentile

1.27x

Higher debt load relative to revenue than 86% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

36th percentile

1.1%

Higher net margin than 36% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

84th percentile

31%

Faster asset growth than 84% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

63rd percentile

13%

Faster revenue growth than 63% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Up

$8,430,083

Up $1,980,443 (+31%) from 2021

Net Assets

Up

$3,200,305

Up $45,116 (+1.4%) from 2021

Liabilities

Up

$5,229,778

Up $1,935,327 (+59%) from 2021

Revenue

Up

$4,103,499

Up $475,893 (+13%) from 2021

Expenses

Up

$4,058,383

Up $1,190,534 (+42%) from 2021

Net Income

Down

$45,116

Down $714,641 (-94%) from 2021

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2013: $1Liabilities 2013: $02013Assets 2014: $911,372Liabilities 2014: $863,479Net Assets 2014: $47,8932014Assets 2015: $908,433Liabilities 2015: $847,264Net Assets 2015: $61,1692015Assets 2016: $1,241,988Liabilities 2016: $1,073,106Net Assets 2016: $168,8822016Assets 2017: $2,471,084Liabilities 2017: $1,495,340Net Assets 2017: $975,7442017Assets 2018: $3,048,123Liabilities 2018: $1,323,282Net Assets 2018: $1,724,8412018Assets 2019: $3,703,444Liabilities 2019: $1,327,851Net Assets 2019: $2,375,5932019Assets 2020: $5,037,197Liabilities 2020: $2,641,765Net Assets 2020: $2,395,4322020Assets 2021: $6,449,640Liabilities 2021: $3,294,451Net Assets 2021: $3,155,1892021Assets 2022: $8,430,083Liabilities 2022: $5,229,778Net Assets 2022: $3,200,3052022Assets 2023: $8,121,007Liabilities 2023: $5,064,670Net Assets 2023: $3,056,3372023Assets 2024: $7,683,948Liabilities 2024: $4,644,574Net Assets 2024: $3,039,3742024Assets 2025: $7,477,487Liabilities 2025: $4,222,095Net Assets 2025: $3,255,3922025

Highlighted filing

2022

Assets$8,430,083
Liabilities$5,229,778
Net Assets$3,200,305

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $217,374Expenses 2014: $169,481Net Income 2014: $47,8932014Revenue 2015: $631,623Expenses 2015: $618,347Net Income 2015: $13,2762015Revenue 2016: $911,671Expenses 2016: $818,449Net Income 2016: $93,2222016Revenue 2017: $1,884,403Expenses 2017: $1,077,541Net Income 2017: $806,8622017Revenue 2018: $2,237,576Expenses 2018: $1,488,479Net Income 2018: $749,0972018Revenue 2019: $2,631,791Expenses 2019: $1,981,039Net Income 2019: $650,7522019Revenue 2020: $2,586,912Expenses 2020: $2,567,073Net Income 2020: $19,8392020Revenue 2021: $3,627,606Expenses 2021: $2,867,849Net Income 2021: $759,7572021Revenue 2022: $4,103,499Expenses 2022: $4,058,383Net Income 2022: $45,1162022Revenue 2023: $4,486,768Expenses 2023: $4,630,736Net Income 2023: -$143,9682023Revenue 2024: $4,044,119Expenses 2024: $4,061,082Net Income 2024: -$16,9632024Revenue 2025: $3,901,031Expenses 2025: $3,645,013Net Income 2025: $256,0182025

Highlighted filing

2022

Revenue$4,103,499
Expenses$4,058,383
Net Income$45,116
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Dec 15, 2022
Return Version
2021v4.0
Gross Receipts
$4,120,025
Mission and Program Overview

Mission

The lead academy classical school is organized exclusively for charitable, religious, and scientific purposes under section 501(c)(3) of the irc. The specific purpose for which this corporation is to serve as a private christian classical school using a classical curriculum model for the purpose of instructing and educating students in grades k-12.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,075,593$7,977,104▲ $1,901,511
Savings and Temporary Cash Investments$229,126$211,920▼ $17,206
Cash and Non-Interest-Bearing Accounts$104,631$202,703▲ $98,072
Intangible Assets$40,290$38,356▼ $1,934
Loans From Officers Directors$3,908--
Total Assets$6,449,640$8,430,083▲ $1,980,443
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,939,365$5,183,535▲ $2,244,170
Deferred Revenue$259,937--
Accounts Payable and Accrued Expenses$91,241$46,243▼ $44,998
Total Liabilities$3,294,451$5,229,778▲ $1,935,327
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,155,189$3,200,305▲ $45,116
Total Net Assets Fund Balance$3,155,189$3,200,305▲ $45,116
Total Liabilities and Net Assets / Fund Balance$6,449,640$8,430,083▲ $1,980,443

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,110,604$538,783$7,649,387
Land$703,788-$703,788
Equipment$102,166$99,515$201,681
Other Land Buildings$58,435$37,784$96,219
Leasehold Improvements$2,111$2,402$4,513
Compensation and Service Providers

Board Members and Trustees

NameTitle
Henry F LayChairman
Kara WhitneyDirector
Klint LayDirector
Linda AmoreDirector
Robert FreemanDirector
Sandy WyattDirector
Steve TownleyDirector
Kace BrowningSecretary
David KingTop Financia
Michael a BellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$320,605
Program Service Revenue
$3,706,984
Investment Income
$1,518
Other Revenue
$74,392
All Other Contributions
$320,605
Change in Net Assets
$45,116
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,268,320
Other Expenses$1,790,063
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,570,791$523,597-$2,094,388
Occupancy$109,062$357,145-$466,207
Depreciation Depletion$172,087$43,017-$215,104
Payroll Taxes$130,449$43,483-$173,932
Office Expenses$134,709$36,569-$171,278
Travel-$96,076-$96,076
Insurance$58,014$19,338-$77,352
Fees for Services Accounting-$60,376-$60,376
All Other Expenses-$46,932-$46,932
Other Expenses$41,098$15,589-$41,098
Information Technology$27,803--$27,803
Advertising$10,558--$10,558
Conferences and Meetings$2,080$693-$2,773
Total Functional Expenses$2,815,568$1,242,815$0$4,058,383
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$90,918
Fundraising Direct Expenses$16,526
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bbq Fundraiser$90,918$90,918$16,526$74,392
Total Events$90,918$90,918$16,526$74,392
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Kace BrowningFamily MemberEmployeeNo-
Kara WhitneyFamily MemberEmployeeNo-
Megan KingFamily MemberEmployeeNo-
Nancy LayFamily MemberEmployeeNo-

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$3,908--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
Yes
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
No
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 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Lead Academy Classical School
EIN
46-3044025
Phone
8509951900
Address
7121 CHUMUCKLA HWY, PACE, FL 32571

Signing Officer

Name
Henry F Lay
Title
Chairman
Phone
8509951900
Signed
2022-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Henry F Lay
Formed
2013
Legal Domicile
Fl
Voting Board Members
10
Independent Board Members
6
Employees
72

Preparer

Firm
Allen Pritchett & Bassett Llp
Address
PO BOX 349, TIFTON, GA 31793-0349
Preparer
Keri Jones CPA
Phone
2293826960
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The lead academy classical school is organized exclusively for charitable, religious, and scientific purposes under section 501(c)(3) of the irc. The specific purpose for which this corporation is to serve as a private christian classical school using a classical curriculum model for the purpose of instructing and educating students in grades k-12.

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3179201
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt449249
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IRS990/PYContributionsGrantsAmt0522406
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0107
IRS990/PYOtherExpensesAmt01140993
IRS990/PYOtherRevenueAmt065909
IRS990/PYProgramServiceRevenueAmt03039184
IRS990/PYRevenuesLessExpensesAmt0759757
IRS990/PYSalariesCompEmpBnftPaidAmt01726856
IRS990/PYTotalExpensesAmt02867849
IRS990/PYTotalRevenueAmt03627606
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt045116
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03706984
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0229126
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0211920
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt07110604
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0538783
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07649387
IRS990ScheduleD/EquipmentGrp/BookValueAmt0102166
IRS990ScheduleD/EquipmentGrp/DepreciationAmt099515
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0201681
IRS990ScheduleD/LandGrp/BookValueAmt0703788
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0703788
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02111
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02402
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt04513
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt058435
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt037784
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt096219
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07977104
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PRINTED IN THE NEWSPAPER - PRESS GAZETTE. ALSO POSTED AT SCHOOL.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES SCHOLARSHIP TUITION INCOME FOR QUALIFYING STUDENTS OF THE STEP-UP, MCKAY AND AAA PROGRAMS IN THE STATE OF FLORIDA.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt016526
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BBQ FUNDRAISER
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt090918
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt090918
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt090918
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt090918
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt074392
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IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt016526
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0NANCY LAY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1MEGAN KING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2KARA WHITNEY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm3KACE BROWNING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0FAMILY MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1FAMILY MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2FAMILY MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3FAMILY MEMBER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd2false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd3false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0EMPLOYEE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1EMPLOYEE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2EMPLOYEE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3EMPLOYEE
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LEAD ACADEMY CLASSICAL SCHOOL IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, AND SCIENTIFIC PURPOSES UNDER SECTION 501(C)(3) OF THE IRC. THE SPECIFIC PURPOSE FOR WHICH THIS CORPORATION IS TO SERVE AS A PRIVATE CHRISTIAN CLASSICAL SCHOOL USING A CLASSICAL CURRICULUM MODEL FOR THE PURPOSE OF INSTRUCTING AND EDUCATING STUDENTS IN GRADES K-12.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06449640
IRS990/TotalAssetsEOYAmt08430083
IRS990/TotalAssetsGrp/BOYAmt06449640
IRS990/TotalAssetsGrp/EOYAmt08430083
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0320605
IRS990/TotalEmployeeCnt072
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01242815
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02815568
IRS990/TotalFunctionalExpensesGrp/TotalAmt04058383
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03294451
IRS990/TotalLiabilitiesEOYAmt05229778
IRS990/TotalLiabilitiesGrp/BOYAmt03294451
IRS990/TotalLiabilitiesGrp/EOYAmt05229778
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03155189
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03200305
IRS990/TotalProgramServiceExpensesAmt02815568
IRS990/TotalProgramServiceRevenueAmt03706984
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03708502
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04103499
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06449640
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08430083
IRS990/TravelGrp/ManagementAndGeneralAmt096076
IRS990/TravelGrp/TotalAmt096076
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt03399 HARVEY LANE
IRS990/USAddress/CityNm0PACE
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd032571
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.LEADACADEMYLIONS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HENRY F LAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08509951900
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-12-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEAD ACADEMY CLASSICAL SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0LEAD
ReturnHeader/Filer/EIN0463044025
ReturnHeader/Filer/PhoneNum08509951900
ReturnHeader/Filer/USAddress/AddressLine1Txt07121 CHUMUCKLA HWY
ReturnHeader/Filer/USAddress/CityNm0PACE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032571
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0581382220
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ALLEN PRITCHETT & BASSETT LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 349

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