Civic Intelligence

Grace Academy Inc.

990 • Fiscal year 2018 • EIN 52-1096867

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 15, 2018

13321 Cearfoss PikeHagerstown, MD 21740-1614

(301) 733-2033

Siviq Scores

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

Liabilities / Assets

89th percentile

0.84x

Higher debt load relative to assets than 89% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

81st percentile

0.63x

Higher debt load relative to revenue than 81% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

36th percentile

-1.1%

Higher net margin than 36% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

13th percentile

-10%

Faster asset growth than 13% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

46th percentile

2.1%

Faster revenue growth than 46% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$2,209,611

Down $258,235 (-10%) from 2017

Net Assets

Down

$346,130

Down $51,853 (-13%) from 2017

Liabilities

Down

$1,863,481

Down $206,382 (-10.0%) from 2017

Revenue

Up

$2,968,630

Up $60,929 (+2.1%) from 2017

Expenses

Up

$3,001,722

Up $18,293 (+0.6%) from 2017

Net Income

Up

-$33,092

Up $42,636 (+56%) from 2017

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2012: $2,415,851Liabilities 2012: $2,038,285Net Assets 2012: $377,5662012Assets 2013: $2,372,686Liabilities 2013: $2,137,124Net Assets 2013: $235,5622013Assets 2014: $2,341,146Liabilities 2014: $2,142,167Net Assets 2014: $198,9792014Assets 2015: $2,442,595Liabilities 2015: $2,153,051Net Assets 2015: $289,5442015Assets 2016: $2,509,174Liabilities 2016: $2,035,468Net Assets 2016: $473,7062016Assets 2017: $2,467,846Liabilities 2017: $2,069,863Net Assets 2017: $397,9832017Assets 2018: $2,209,611Liabilities 2018: $1,863,481Net Assets 2018: $346,1302018Assets 2019: $2,160,342Liabilities 2019: $1,844,866Net Assets 2019: $315,4762019Assets 2020: $2,057,161Liabilities 2020: $1,628,999Net Assets 2020: $428,1622020Assets 2021: $2,253,058Liabilities 2021: $1,351,825Net Assets 2021: $901,2332021Assets 2022: $2,491,648Liabilities 2022: $1,300,962Net Assets 2022: $1,190,6862022Assets 2023: $2,636,370Liabilities 2023: $1,332,303Net Assets 2023: $1,304,0672023Assets 2024: $2,597,289Liabilities 2024: $1,257,988Net Assets 2024: $1,339,3012024Assets 2025: $2,603,744Liabilities 2025: $1,100,766Net Assets 2025: $1,502,9782025

Highlighted filing

2018

Assets$2,209,611
Liabilities$1,863,481
Net Assets$346,130

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2012: $2,224,392Expenses 2012: $2,370,546Net Income 2012: -$146,1542012Revenue 2013: $2,174,807Expenses 2013: $2,316,814Net Income 2013: -$142,0072013Revenue 2014: $2,185,606Expenses 2014: $2,222,189Net Income 2014: -$36,5832014Revenue 2015: $2,656,629Expenses 2015: $2,566,064Net Income 2015: $90,5652015Revenue 2016: $2,875,908Expenses 2016: $2,691,744Net Income 2016: $184,1642016Revenue 2017: $2,907,701Expenses 2017: $2,983,429Net Income 2017: -$75,7282017Revenue 2018: $2,968,630Expenses 2018: $3,001,722Net Income 2018: -$33,0922018Revenue 2019: $2,560,404Expenses 2019: $2,591,058Net Income 2019: -$30,6542019Revenue 2020: $2,674,542Expenses 2020: $2,561,856Net Income 2020: $112,6862020Revenue 2021: $2,722,329Expenses 2021: $2,249,260Net Income 2021: $473,0692021Revenue 2022: $3,289,748Expenses 2022: $3,000,295Net Income 2022: $289,4532022Revenue 2023: $3,892,116Expenses 2023: $3,778,735Net Income 2023: $113,3812023Revenue 2024: $4,121,181Expenses 2024: $4,085,947Net Income 2024: $35,2342024Revenue 2025: $4,431,246Expenses 2025: $4,267,569Net Income 2025: $163,6772025

Highlighted filing

2018

Revenue$2,968,630
Expenses$3,001,722
Net Income-$33,092
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$2,968,630
Mission and Program Overview

Mission

Seeks to enhance the god-given potential in each student through quality christian education so they may be servants of jesus christ in the world.

Operation of a private Christian education institute on a non-discriminatory basis to approximately 343 students, grades K3 through 12.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,145,925$2,045,939▼ $99,986
Prepaid Expenses and Deferred Charges$58,653$65,972▲ $7,319
Accounts Receivable$97,736$59,014▼ $38,722
Savings and Temporary Cash Investments$137,377$27,791▼ $109,586
Inventories for Sale or Use$9,296$10,795▲ $1,499
Cash and Non-Interest-Bearing Accounts$100$100→ $0
Total Assets$2,467,846$2,209,611▼ $258,235
Other Assets Total$18,759--
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,390,239$1,301,786▼ $88,453
Deferred Revenue$519,479$335,913▼ $183,566
Accounts Payable and Accrued Expenses$160,145$135,782▼ $24,363
Unsecured Notes Loans Payable-$90,000-
Total Liabilities$2,069,863$1,863,481▼ $206,382
Net Assets / Fund Balance
Unrestricted Net Assets$291,382$243,236▼ $48,146
Temporarily Rstr Net Assets$93,151$89,444▼ $3,707
Permanently Rstr Net Assets$13,450$13,450→ $0
Total Net Assets Fund Balance$397,983$346,130▼ $51,853
Total Liabilities and Net Assets / Fund Balance$2,467,846$2,209,611▼ $258,235

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,488,176$1,164,428$2,652,604
Equipment$296,293$197,328$493,621
Land$258,499-$258,499
Other Land Buildings$2,971$14,987$17,958
Compensation and Service Providers

Board Members and Trustees

NameTitle
Douglas NighPresident
Dana JenkinsVice President
Nina MurrayDirector
Patrick GrachDirector
Josh BarnhartSecretary
Kathy GriffithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,226
Program Service Revenue
$2,965,404
Investment Income
$0
Other Revenue
$0
All Other Contributions
$3,226
Change in Net Assets
$-33,092
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,843,232
Other Expenses$1,025,445
Grants and Similar Amounts Paid$133,045
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,372,855$42,459-$1,415,314
Other Expenses$515,088--$515,088
Other Employee Benefits$311,666$3,148-$314,814
Occupancy$205,874$2,080-$207,954
Depreciation Depletion$135,424$1,368-$136,792
Grants to Domestic Individuals$133,045--$133,045
Payroll Taxes$111,973$1,131-$113,104
Office Expenses$78,649$794-$79,443
Information Technology$58,712$593-$59,305
Advertising$17,725--$17,725
Travel$4,319$331-$4,650
Fees for Services Accounting$1,950$1,950-$3,900
Fees for Services Legal$588--$588
Total Functional Expenses$2,947,868$53,854$0$3,001,722
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Line 11

Copies of Form 990 are issued to all Board of Directors in attendance at the meeting following delivery of the annual financial statements and tax return from the Academys independent accountant. Copies are forwarded within 24 hours of this meeting to those directors absent. All directors have 21 days to notify Business Manager of any comments, concerns, or questions prior to the mailing of the 990 return by Business Manager, who then must contact the board chair with any input received from the directors. If necessary the 990 return would be corrected prior to mailing.

Form 990, Part VI, Line 12

Through the policy manual of the Academys Board of Directors, each Director is reminded of their duty to disclose any and all known conflicts of interest to the Board and to refrain in those managerial actions that are affected.

Form 990, Part VI, Line 19

Upon written request from a legitimate source the Academy will respond in photocopy format within 30 days to public requests for disclosure of listed documents.

Filing and Contact Details

Filer

Filer Name
Grace Academy Inc
EIN
52-1096867
Phone
3017332033
Address
13321 Cearfoss Pike, Hagerstown, MD 21740-1614

Signing Officer

Name
Warretn Barrett
Title
President
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
1977
Legal Domicile
Md
Voting Board Members
6
Independent Board Members
6
Employees
102
Volunteers
30

Preparer

Firm
Kevin E Anders CPA
Address
9735 Lock Tender Lane, Williamsport, MD 21795
Preparer
Kevin E Anders
Phone
3015822920
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Rounding -2

Raw XML Appendix400 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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IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt01488176
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01164428
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02652604
IRS990ScheduleD/EquipmentGrp/BookValueAmt0296293
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0197328
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0493621
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0258499
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0258499
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02971
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt014987
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt017958
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02045939
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0133045
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Tuition Assistance
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt060
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Copies of Form 990 are issued to all Board of Directors in attendance at the meeting following delivery of the annual financial statements and tax return from the Academys independent accountant. Copies are forwarded within 24 hours of this meeting to those directors absent. All directors have 21 days to notify Business Manager of any comments, concerns, or questions prior to the mailing of the 990 return by Business Manager, who then must contact the board chair with any input received from the directors. If necessary the 990 return would be corrected prior to mailing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Through the policy manual of the Academys Board of Directors, each Director is reminded of their duty to disclose any and all known conflicts of interest to the Board and to refrain in those managerial actions that are affected.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Upon written request from a legitimate source the Academy will respond in photocopy format within 30 days to public requests for disclosure of listed documents.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Rounding -2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt093151
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt089444
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02467846
IRS990/TotalAssetsEOYAmt02209611
IRS990/TotalAssetsGrp/BOYAmt02467846
IRS990/TotalAssetsGrp/EOYAmt02209611
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03226
IRS990/TotalEmployeeCnt0102
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt053854
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02947868
IRS990/TotalFunctionalExpensesGrp/TotalAmt03001722
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02069863
IRS990/TotalLiabilitiesEOYAmt01863481
IRS990/TotalLiabilitiesGrp/BOYAmt02069863
IRS990/TotalLiabilitiesGrp/EOYAmt01863481
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0397983
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0346130
IRS990/TotalProgramServiceExpensesAmt02947868
IRS990/TotalProgramServiceRevenueAmt02965404
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02965404
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02968630
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02467846
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02209611
IRS990/TravelGrp/ManagementAndGeneralAmt0331
IRS990/TravelGrp/ProgramServicesAmt04319
IRS990/TravelGrp/TotalAmt04650
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0291382
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0243236
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt090000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt013321 Cearfoss Pike
IRS990/USAddress/CityNm0Hagerstown
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd0217401614
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.graceacademyonline.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Warretn Barrett
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Grace Academy Inc
ReturnHeader/Filer/BusinessNameControlTxt0GRAC
ReturnHeader/Filer/EIN0521096867
ReturnHeader/Filer/PhoneNum03017332033
ReturnHeader/Filer/USAddress/AddressLine1Txt013321 Cearfoss Pike
ReturnHeader/Filer/USAddress/CityNm0Hagerstown
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd0217401614
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0706F6497AC08AB82CD4C080A5293D7EB56B34638
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0706F6497AC08AB82CD4C080A5293D7EB56B34638
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.235.93.156
ReturnHeader/FilingSecurityInformation/IPDt02018-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm018:13:56
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Kevin E Anders CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09735 Lock Tender Lane
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Williamsport
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021795
ReturnHeader/PreparerPersonGrp/PhoneNum03015822920
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Kevin E Anders
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-11-15T01:16:21-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.60$1.10$1.50$4.43$4.27$0.16
2024Detailed filing. Detailed filing data is available for this year.$2.60$1.26$1.34$4.12$4.09$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.64$1.33$1.30$3.89$3.78$0.11
2022Detailed filing. Detailed filing data is available for this year.$2.49$1.30$1.19$3.29$3.00$0.29
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.25$1.35$0.90$2.72$2.25$0.47
2020Detailed filing. Detailed filing data is available for this year.$2.06$1.63$0.43$2.67$2.56$0.11
2019Detailed filing. Detailed filing data is available for this year.$2.16$1.84$0.32$2.56$2.59$0.03
2018Detailed filing. Detailed filing data is available for this year.$2.21$1.86$0.35$2.97$3.00$0.03
2017Detailed filing. Detailed filing data is available for this year.$2.47$2.07$0.40$2.91$2.98$0.08
2016Summary only. Only limited summary data is available for this year.$2.51$2.04$0.47$2.88$2.69$0.18
2015Summary only. Only limited summary data is available for this year.$2.44$2.15$0.29$2.66$2.57$0.09
2014Summary only. Only limited summary data is available for this year.$2.34$2.14$0.20$2.19$2.22$0.04
2013Summary only. Only limited summary data is available for this year.$2.37$2.14$0.24$2.17$2.32$0.14
2012Summary only. Only limited summary data is available for this year.$2.42$2.04$0.38$2.22$2.37$0.15