Civic Intelligence

Morning Glory Academy Texas

EIN 46-5372106 • 501(c)3 • Keller, TX

Profile

The corporation will operate a school that offers academic classes to students in kindergarten through 12th grade on a part-time basis, in support of home-centered learning and within a christian worldview. The corporation will have two programs: 1) grammar school for kindergarten through 5th grade students; and 2) upper school for 6th through 12th grade students. The school will offer courses in math, science, language arts, and history/social studies to upper school students, with the additional courses of art and physical education for the grammar school students. Upper school classes will meet national standards for content and be college preparatory.

12657 N Caylor RoadKeller, TX 76244

www.themga.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

88th percentile

0.83x

Higher debt load relative to assets than 88% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

92nd percentile

3.54x

Higher debt load relative to revenue than 92% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

37th percentile

0.4%

Higher net margin than 37% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

88th percentile

32%

Faster asset growth than 88% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2025

Revenue Growth

73rd percentile

22%

Faster revenue growth than 73% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2025

Assets

Up

$11,370,407

Up $4,889,068 (+75%) from 2023

Liabilities

Up

$9,451,586

Up $4,218,228 (+81%) from 2023

Net Assets

Up

$1,918,821

Up $670,840 (+54%) from 2023

Revenue

Up

$2,670,740

Up $872,123 (+48%) from 2023

Expenses

Up

$2,659,149

Up $1,004,425 (+61%) from 2023

Net Income

Down

$11,591

Down $132,302 (-92%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2014: $135,575Liabilities 2014: $57,996Net Assets 2014: $77,5792014Assets 2015: $80,472Liabilities 2015: $18,244Net Assets 2015: $62,2282015Assets 2016: $235,332Liabilities 2016: $121,117Net Assets 2016: $114,2152016Assets 2017: $672,811Liabilities 2017: $140,424Net Assets 2017: $532,3872017Assets 2018: $1,111,749Liabilities 2018: $881,074Net Assets 2018: $230,6752018Assets 2019: $1,198,529Liabilities 2019: $940,716Net Assets 2019: $257,8132019Assets 2020: $2,150,932Liabilities 2020: $1,678,306Net Assets 2020: $472,6262020Assets 2021: $5,130,691Liabilities 2021: $4,505,532Net Assets 2021: $625,1592021Assets 2022: $5,564,645Liabilities 2022: $4,460,550Net Assets 2022: $1,104,0952022Assets 2023: $6,481,339Liabilities 2023: $5,233,358Net Assets 2023: $1,247,9812023Assets 2025: $11,370,407Liabilities 2025: $9,451,586Net Assets 2025: $1,918,8212025

Highlighted filing

2025

Assets$11,370,407
Liabilities$9,451,586
Net Assets$1,918,821

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $301,359Expenses 2014: $223,780Net Income 2014: $77,5792014Revenue 2015: $234,561Expenses 2015: $249,912Net Income 2015: -$15,3512015Revenue 2016: $710,054Expenses 2016: $658,067Net Income 2016: $51,9872016Revenue 2017: $1,112,792Expenses 2017: $694,620Net Income 2017: $418,1722017Revenue 2018: $779,025Expenses 2018: $662,149Net Income 2018: $116,8762018Revenue 2019: $1,010,753Expenses 2019: $983,615Net Income 2019: $27,1382019Revenue 2020: $1,304,609Expenses 2020: $1,089,796Net Income 2020: $214,8132020Revenue 2021: $1,261,419Expenses 2021: $1,108,886Net Income 2021: $152,5332021Revenue 2022: $1,884,211Expenses 2022: $1,405,158Net Income 2022: $479,0532022Revenue 2023: $1,798,617Expenses 2023: $1,654,724Net Income 2023: $143,8932023Revenue 2025: $2,670,740Expenses 2025: $2,659,149Net Income 2025: $11,5912025

Highlighted filing

2025

Revenue$2,670,740
Expenses$2,659,149
Net Income$11,591

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Jan 13, 2026
Return Version
2024v5.0
Gross Receipts
$2,826,100
Mission and Program Overview

Mission

The corporation will operate a school that offers academic classes to students in kindergarten through 12th grade on a part-time basis, in support of home-centered learning and within a christian worldview. The corporation will have two programs: 1) elementary school for kindergarten through 5th grade students; and 2) upper school for 6th through 12th grade students. The school will offer courses in math, science, language arts, and history/social studies to upper school students, with the additional courses of art and physical education for the elementary school students. Upper school classes will meet national standards for content and be college preparatory.

The corporation will operate a school that offers academic classes to students in kindergarten through 12th grade on a part-time basis, in support of a home-centered learning and within a christian worldview. The corporation will have two programs: 1) elementary school for kindergarten through 5th grade students; and 2) upper school for 6th through 12th grade and history/social studies to upper school students, with the additional courses of art and physical education for the elementary school students. Upper school classes will meet national standards for content and be college preparatory.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,202,286$8,280,535▲ $4,078,249
Rtn Earn Endowment Incm Other Fnds$1,831,705$1,918,821▲ $87,116
Accounts Receivable$1,961,907$1,472,276▼ $489,631
Cash and Non-Interest-Bearing Accounts$952,322$1,389,320▲ $436,998
Prepaid Expenses and Deferred Charges$21,417$6,497▼ $14,920
Total Assets$11,405,480$11,370,407▼ $35,073
Other Assets Total$4,267,548$221,779▼ $4,045,769
Liabilities
Tax Exempt Bond Liabilities$7,084,000$6,884,992▼ $199,008
Deferred Revenue$2,021,527$2,271,382▲ $249,855
Other Liabilities$468,248$295,212▼ $173,036
Total Liabilities$9,573,775$9,451,586▼ $122,189
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,831,705$1,918,821▲ $87,116
Total Liabilities and Net Assets / Fund Balance$11,405,480$11,370,407▼ $35,073

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,471,553$334,060$7,805,613
Land$191,250-$191,250
Compensation and Service Providers

Board Members and Trustees

NameTitle
Arnold TorresChairman
Ben ScarboroughBoard Member
Chris NorrisBoard Member
Claire BancroftBoard Member
Drew WhitingtonBoard Member
Julie CookBoard Member
Tra WillbanksBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$164,150
Program Service Revenue
$2,454,158
Investment Income
$13,045
Other Revenue
$39,387
All Other Contributions
$164,150
Change in Net Assets
$11,591

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,670,740
Total Revenue per Audited Statements
$2,670,740
Total Revenue per Form 990
$2,670,740
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,356,154
Other Expenses$1,302,995
Total Fundraising Expense$92,275
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,202,264$48,129-$1,250,393
Depreciation Depletion-$464,040-$464,040
Interest$266,104$29,567-$295,671
Occupancy$121,211$90,730$41,183$253,124
Payroll Taxes$91,973$4,539-$96,512
Office Expenses$33,576$23,265$3,966$60,807
All Other Expenses$20,041$8,171$6,737$34,949
Information Technology$18,034$11,785$1,926$31,745
Insurance$16,411$5,900-$22,311
Pension Plan Contributions$4,572$4,677-$9,249
Other Expenses$2,355$3,338$2,565$8,258
Advertising$5,455$1,323-$6,778
Travel-$2,242-$2,242
Total Functional Expenses$1,801,494$765,380$92,275$2,659,149

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,659,149
Expenses per Audited Statements$2,583,624
Total Expenses per Audited Statements$2,583,624
Expenses Not Reported on Financial Statements$75,525
Other Expense Adjustments$75,525
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$102,519
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Benefit Dinner$102,519$102,519-$102,519
Total Events$102,519$102,519-$102,519
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest$111,857
Credit Card Liabilities$93,930
Payroll Liabilities$51,113
Deferred Operating Lease Liability$38,312

Bond Issues

BondIssuerIssuedIssue PricePurpose
BSeries 2022 Note2022-10-21$4,000,000(a) financing and/or refinancing all or a portion of the costs of the acquisition, construction, ext
ASeries 2020 Note2020-07-17$3,366,000(a) financing and/or refinancing all or a portion of the costs of the acquisition, construction, ext

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$4,000,000--$71,200
A$3,366,000--$66,000

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
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

The draft return will be provided to the board prior to filing.

Form 990, Page 6, Part VI, Line 19

The 990 is available upon request

Filing and Contact Details

Filer

Filer Name
Trinity Preparatory Academy
EIN
46-5372106
Phone
8176831453
Address
12657 N CAYLOR ROAD, KELLER, TX 76244

Signing Officer

Name
Claire Bancroft
Title
Board Member
Phone
8176831453
Signed
2026-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Claire Bancroft
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
58
Volunteers
7

Preparer

Firm
Green Curtis Daley Cpas Pllc
Address
6500 COLLEYVILLE BLVD STE 200, COLLEYVILLE, TX 76034
Preparer
Hannah Curtis CPA
Phone
8172516688
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The corporation will operate a school that offers academic classes to students in kindergarten through 12th grade on a part-time basis, in support of a home-centered learning and within a christian worldview. The corporation will have two programs: 1) elementary school for kindergarten through 5th grade students; and 2) upper school for 6th through 12th grade and history/social studies to upper school students, with the additional courses of art and physical education for the elementary school students. Upper school classes will meet national standards for content and be college preparatory.

Form 990, Part XI, Line 9

Book / tax depreciation difference 75,525

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 4B

Book / tax depreciation difference 75,525

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK / TAX DEPRECIATION DIFFERENCE 75,525
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0NO DISCRIMINATION IS ALLOWED.
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0SERIES 2020 NOTE (A) FINANCING AND/OR REFINANCING ALL OR A PORTION OF THE COSTS OF THE ACQUISITION, CONSTRUCTION, EXTENSION, REPAIR, RENOVATION, IMPROVEMENT AND EQUIPPING OF EDUCATIONAL AND RELATED FACILITIES, INCLUDING THE COST OF ACQUIRING LAND IN CONNECTION THEREWITH, ON THE CAMPUS OF THE SCHOOL LOCATED AT 12657 N. CAYLOR ROAD, FORT WORTH, TEXAS 76244 AND (B) PAYING CERTAIN EXPENSES IN CONNECTION WITH THE ISSUANCE OF THE LOAN.
IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt1SERIES 2022 NOTE (A) FINANCING AND/OR REFINANCING ALL OR A PORTION OF THE COSTS OF THE ACQUISITION, CONSTRUCTION, EXTENSION, REPAIR, RENOVATION, IMPROVEMENT AND EQUIPPING OF EDUCATIONAL AND RELATED FACILITIES, INCLUDING THE COST OF ACQUIRING LAND IN CONNECTION THEREWITH, ON THE CAMPUS OF THE SCHOOL LOCATED AT 12657 N. CAYLOR ROAD, FORT WORTH, TEXAS 76244 AND (B) PAYING CERTAIN EXPENSES IN CONNECTION WITH THE ISSUANCE OF THE LOAN.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc1PURPOSE OF ISSUE DESCRIPTION
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