Civic Intelligence

Lead Academy Classical School

990 • Fiscal year 2023 • EIN 46-3044025

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 29, 2024

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.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

85th percentile

1.13x

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

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

31st percentile

-3.2%

Higher net margin than 31% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

20th percentile

-3.7%

Faster asset growth than 20% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

56th percentile

9.3%

Faster revenue growth than 56% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Assets

Down

$8,121,007

Down $309,076 (-3.7%) from 2022

Net Assets

Down

$3,056,337

Down $143,968 (-4.5%) from 2022

Liabilities

Down

$5,064,670

Down $165,108 (-3.2%) from 2022

Revenue

Up

$4,486,768

Up $383,269 (+9.3%) from 2022

Expenses

Up

$4,630,736

Up $572,353 (+14%) from 2022

Net Income

Down

-$143,968

Down $189,084 (-419%) from 2022

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

2023

Assets$8,121,007
Liabilities$5,064,670
Net Assets$3,056,337

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

2023

Revenue$4,486,768
Expenses$4,630,736
Net Income-$143,968
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 29, 2024
Return Version
2022v5.0
Gross Receipts
$5,478,424
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$7,977,104$7,689,082▼ $288,022
Cash and Non-Interest-Bearing Accounts$202,703$333,392▲ $130,689
Savings and Temporary Cash Investments$211,920$62,111▼ $149,809
Intangible Assets$38,356$36,422▼ $1,934
Total Assets$8,430,083$8,121,007▼ $309,076
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,183,535$4,929,373▼ $254,162
Accounts Payable and Accrued Expenses$46,243$99,388▲ $53,145
Deferred Revenue-$35,909-
Total Liabilities$5,229,778$5,064,670▼ $165,108
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,200,305$3,056,337▼ $143,968
Total Net Assets Fund Balance$3,200,305$3,056,337▼ $143,968
Total Liabilities and Net Assets / Fund Balance$8,430,083$8,121,007▼ $309,076

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,835,033$552,365$7,387,398
Land$454,959-$454,959
Equipment$334,322$112,062$446,384
Other Land Buildings$64,768$55,651$120,419
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
$181,001
Program Service Revenue
$3,566,294
Investment Income
$698,734
Other Revenue
$40,739
All Other Contributions
$181,001
Change in Net Assets
$-143,968
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,544,022
Other Expenses$2,086,714
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,596,497$532,166-$2,128,663
Occupancy$93,722$337,073-$430,795
Payroll Taxes$311,519$103,840-$415,359
Office Expenses$181,069$51,762-$232,831
Depreciation Depletion$178,964$44,740-$223,704
Travel-$105,930-$105,930
Information Technology-$101,180-$101,180
Other Expenses$82,135$18,756-$82,135
Fees for Services Accounting-$67,809-$67,809
All Other Expenses$42,082$12,046-$54,128
Insurance$27,898$9,299-$37,197
Conferences and Meetings$12,901$4,300-$17,201
Advertising$8,800--$8,800
Total Functional Expenses$3,241,835$1,388,901$0$4,630,736
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$68,947
Fundraising Direct Expenses$28,208
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bbq Fundraiser$68,947$68,947$28,208$40,739
Total Events$68,947$68,947$28,208$40,739
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-
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
2024-01-29
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
102

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/TotalRevenueColumnAmt02303649
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1820743
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2239550
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3138687
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt463665
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0320605
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01518
IRS990/PYOtherExpensesAmt01790063
IRS990/PYOtherRevenueAmt074392
IRS990/PYProgramServiceRevenueAmt03706984
IRS990/PYRevenuesLessExpensesAmt045116
IRS990/PYSalariesCompEmpBnftPaidAmt02268320
IRS990/PYTotalExpensesAmt04058383
IRS990/PYTotalRevenueAmt04103499
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-143968
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03566294
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0211920
IRS990/SavingsAndTempCashInvstGrp/EOYAmt062111
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt06835033
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0552365
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07387398
IRS990ScheduleD/EquipmentGrp/BookValueAmt0334322
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0112062
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0446384
IRS990ScheduleD/LandGrp/BookValueAmt0454959
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0454959
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt064768
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt055651
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0120419
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07689082
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/DirectExpenseSummaryEventsAmt028208
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BBQ FUNDRAISER
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt068947
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt068947
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt068947
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt068947
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt040739
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt028208
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt028208
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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/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08430083
IRS990/TotalAssetsEOYAmt08121007
IRS990/TotalAssetsGrp/BOYAmt08430083
IRS990/TotalAssetsGrp/EOYAmt08121007
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0181001
IRS990/TotalEmployeeCnt0102
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01388901
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03241835
IRS990/TotalFunctionalExpensesGrp/TotalAmt04630736
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05229778
IRS990/TotalLiabilitiesEOYAmt05064670
IRS990/TotalLiabilitiesGrp/BOYAmt05229778
IRS990/TotalLiabilitiesGrp/EOYAmt05064670
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03200305
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03056337
IRS990/TotalProgramServiceExpensesAmt03241835
IRS990/TotalProgramServiceRevenueAmt03566294
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt04265028
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04486768
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08430083
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08121007
IRS990/TravelGrp/ManagementAndGeneralAmt0105930
IRS990/TravelGrp/TotalAmt0105930
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/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HENRY F LAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08509951900
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-01-29
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/IRSResponsiblePrtyInfoCurrInd0true

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