Civic Intelligence

Lead Academy Classical School

990 • Fiscal year 2024 • EIN 46-3044025

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 11, 2025

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

0.60x

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

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

86th percentile

1.15x

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

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

36th percentile

-0.4%

Higher net margin than 36% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

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.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

17th percentile

-5.4%

Faster asset growth than 17% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

21st percentile

-9.9%

Faster revenue growth than 21% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$7,683,948

Down $437,059 (-5.4%) from 2023

Net Assets

Down

$3,039,374

Down $16,963 (-0.6%) from 2023

Liabilities

Down

$4,644,574

Down $420,096 (-8.3%) from 2023

Revenue

Down

$4,044,119

Down $442,649 (-9.9%) from 2023

Expenses

Down

$4,061,082

Down $569,654 (-12%) from 2023

Net Income

Up

-$16,963

Up $127,005 (+88%) from 2023

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

2024

Assets$7,683,948
Liabilities$4,644,574
Net Assets$3,039,374

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

2024

Revenue$4,044,119
Expenses$4,061,082
Net Income-$16,963
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 11, 2025
Return Version
2023v6.0
Gross Receipts
$4,052,622
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$7,689,082$7,572,745▼ $116,337
Cash and Non-Interest-Bearing Accounts$333,392$61,642▼ $271,750
Intangible Assets$36,422$34,488▼ $1,934
Savings and Temporary Cash Investments$62,111$15,073▼ $47,038
Total Assets$8,121,007$7,683,948▼ $437,059
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,929,373$4,585,316▼ $344,057
Accounts Payable and Accrued Expenses$99,388$59,258▼ $40,130
Deferred Revenue$35,909--
Total Liabilities$5,064,670$4,644,574▼ $420,096
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,056,337$3,039,374▼ $16,963
Total Net Assets Fund Balance$3,056,337$3,039,374▼ $16,963
Total Liabilities and Net Assets / Fund Balance$8,121,007$7,683,948▼ $437,059

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,729,770$746,894$7,476,664
Land$454,959-$454,959
Equipment$309,274$137,110$446,384
Other Land Buildings$78,742$73,164$151,906
Compensation and Service Providers

Board Members and Trustees

NameTitle
Henry F LayChairman
Beth SummerlinDirector
Jared WhipkeyDirector
Kara Lay-clarkDirector
Klint LayDirector
Linda AmoreDirector
Robert FreemanDirector
Steve TownleyDirector
Kace BrowningSecretary/tr
Brandon VincentTop Financia
Revenue and Support

Revenue Composition

Contributions and Grants
$101,061
Program Service Revenue
$3,866,160
Investment Income
$11,507
Other Revenue
$65,391
All Other Contributions
$101,061
Change in Net Assets
$-16,963
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,456,185
Other Expenses$1,604,897
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,480,288$493,429-$1,973,717
Payroll Taxes$361,851$120,617-$482,468
Occupancy$82,365$295,256-$377,621
Office Expenses$192,339$56,898-$249,237
Depreciation Depletion$194,510$47,427-$241,937
Insurance$73,767$24,589-$98,356
Information Technology-$81,375-$81,375
Fees for Services Accounting-$53,856-$53,856
Other Expenses$44,886$44,314-$44,314
Travel-$36,210-$36,210
All Other Expenses$7,636$10,039-$17,675
Conferences and Meetings$5,581$1,860-$7,441
Advertising$6,899--$6,899
Total Functional Expenses$2,780,092$1,280,990$0$4,061,082
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$69,207
Fundraising Direct Expenses$3,816
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bbq Fundraiser$69,207$69,207$3,816$65,391
Total Events$69,207$69,207$3,816$65,391
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
2025-02-11
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
88

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/TotalRevenueColumnAmt1254851
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2196034
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3182637
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4151986
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0181001
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0698734
IRS990/PYOtherExpensesAmt02086714
IRS990/PYOtherRevenueAmt040739
IRS990/PYProgramServiceRevenueAmt03566294
IRS990/PYRevenuesLessExpensesAmt0-143968
IRS990/PYSalariesCompEmpBnftPaidAmt02544022
IRS990/PYTotalExpensesAmt04630736
IRS990/PYTotalRevenueAmt04486768
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-16963
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03866160
IRS990/SavingsAndTempCashInvstGrp/BOYAmt062111
IRS990/SavingsAndTempCashInvstGrp/EOYAmt015073
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt06729770
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0746894
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07476664
IRS990ScheduleD/EquipmentGrp/BookValueAmt0309274
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0137110
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0446384
IRS990ScheduleD/LandGrp/BookValueAmt0454959
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0454959
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt078742
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt073164
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0151906
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07572745
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/DirectExpenseSummaryEventsAmt03816
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BBQ FUNDRAISER
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt069207
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt069207
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt069207
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt069207
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt065391
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt03816
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt03816
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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
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08121007
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IRS990/TotalAssetsGrp/BOYAmt08121007
IRS990/TotalAssetsGrp/EOYAmt07683948
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0101061
IRS990/TotalEmployeeCnt088
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01280990
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02780092
IRS990/TotalFunctionalExpensesGrp/TotalAmt04061082
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05064670
IRS990/TotalLiabilitiesEOYAmt04644574
IRS990/TotalLiabilitiesGrp/BOYAmt05064670
IRS990/TotalLiabilitiesGrp/EOYAmt04644574
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03056337
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03039374
IRS990/TotalProgramServiceExpensesAmt02780092
IRS990/TotalProgramServiceRevenueAmt03866160
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03877667
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04044119
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08121007
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07683948
IRS990/TravelGrp/ManagementAndGeneralAmt036210
IRS990/TravelGrp/TotalAmt036210
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/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HENRY F LAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum08509951900
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-11
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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