Civic Intelligence

Harding Academy

EIN 62-0852815 • 501(c)3 • Nashville, TN

Profile

EDUCATING STUDENTS

170 Windsor DriveNashville, TN 37205

www.hardingacademy.org

Siviq Scores

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

Liabilities / Assets

41st percentile

0.16x

Higher debt load relative to assets than 41% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

0.45x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

79th percentile

25%

Higher net margin than 79% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

76th percentile

15%

Faster asset growth than 76% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

81st percentile

29%

Faster revenue growth than 81% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$50,003,919

Up $6,497,483 (+15%) from 2023

Liabilities

Up

$8,193,360

Up $788,562 (+11%) from 2023

Net Assets

Up

$41,810,559

Up $5,708,921 (+16%) from 2023

Revenue

Up

$18,164,996

Up $4,093,880 (+29%) from 2023

Expenses

Down

$13,699,208

Down $121,715 (-0.9%) from 2023

Net Income

Up

$4,465,788

Up $4,215,595 (+1685%) from 2023

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2011: $22,890,362Liabilities 2011: $2,710,297Net Assets 2011: $20,180,0652011Assets 2012: $24,934,734Liabilities 2012: $3,489,156Net Assets 2012: $21,445,5782012Assets 2013: $30,638,045Liabilities 2013: $8,413,727Net Assets 2013: $22,224,3182013Assets 2014: $32,717,692Liabilities 2014: $9,778,862Net Assets 2014: $22,938,8302014Assets 2015: $32,046,428Liabilities 2015: $8,538,938Net Assets 2015: $23,507,4902015Assets 2016: $31,982,279Liabilities 2016: $8,525,768Net Assets 2016: $23,456,5112016Assets 2017: $32,546,389Liabilities 2017: $8,316,535Net Assets 2017: $24,229,8542017Assets 2018: $33,126,659Liabilities 2018: $8,043,384Net Assets 2018: $25,083,2752018Assets 2019: $34,929,628Liabilities 2019: $8,382,438Net Assets 2019: $26,547,1902019Assets 2020: $37,040,794Liabilities 2020: $7,808,713Net Assets 2020: $29,232,0812020Assets 2021: $40,994,523Liabilities 2021: $6,454,951Net Assets 2021: $34,539,5722021Assets 2022: $42,272,684Liabilities 2022: $7,297,840Net Assets 2022: $34,974,8442022Assets 2023: $43,506,436Liabilities 2023: $7,404,798Net Assets 2023: $36,101,6382023Assets 2024: $50,003,919Liabilities 2024: $8,193,360Net Assets 2024: $41,810,5592024

Highlighted filing

2024

Assets$50,003,919
Liabilities$8,193,360
Net Assets$41,810,559

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $8,320,8792011Expenses 2012: $8,661,1762012Expenses 2013: $10,141,5952013Revenue 2014: $10,509,303Expenses 2014: $9,794,791Net Income 2014: $714,5122014Revenue 2015: $11,012,404Expenses 2015: $10,443,744Net Income 2015: $568,6602015Revenue 2016: $10,742,437Expenses 2016: $10,793,416Net Income 2016: -$50,9792016Revenue 2017: $11,820,242Expenses 2017: $11,046,899Net Income 2017: $773,3432017Revenue 2018: $12,097,509Expenses 2018: $11,244,088Net Income 2018: $853,4212018Revenue 2019: $13,492,669Expenses 2019: $12,028,754Net Income 2019: $1,463,9152019Revenue 2020: $14,183,780Expenses 2020: $11,498,889Net Income 2020: $2,684,8912020Revenue 2021: $15,657,417Expenses 2021: $12,127,528Net Income 2021: $3,529,8892021Revenue 2022: $14,070,043Expenses 2022: $12,558,914Net Income 2022: $1,511,1292022Revenue 2023: $14,071,116Expenses 2023: $13,820,923Net Income 2023: $250,1932023Revenue 2024: $18,164,996Expenses 2024: $13,699,208Net Income 2024: $4,465,7882024

Highlighted filing

2024

Revenue$18,164,996
Expenses$13,699,208
Net Income$4,465,788

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.0$8.19$41.8$18.2$13.7$4.47
2023Summary only. Only limited summary data is available for this year.$43.5$7.40$36.1$14.1$13.8$0.25
2022Summary only. Only limited summary data is available for this year.$42.3$7.30$35.0$14.1$12.6$1.51
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$41.0$6.45$34.5$15.7$12.1$3.53
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.0$7.81$29.2$14.2$11.5$2.68
2019Summary only. Only limited summary data is available for this year.$34.9$8.38$26.5$13.5$12.0$1.46
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.1$8.04$25.1$12.1$11.2$0.85
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.5$8.32$24.2$11.8$11.0$0.77
2016Detailed filing. Detailed filing data is available for this year.$32.0$8.53$23.5$10.7$10.8$0.05
2015Detailed filing. Detailed filing data is available for this year.$32.0$8.54$23.5$11.0$10.4$0.57
2014Detailed filing. Detailed filing data is available for this year.$32.7$9.78$22.9$10.5$9.79$0.71
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.6$8.41$22.2$10.1
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.9$3.49$21.4$8.66
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.9$2.71$20.2$8.32
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 30, 2025
Return Version
2023v6.0
Gross Receipts
$19,568,745
Mission and Program Overview

Mission

EDUCATING STUDENTS

To educate and inspire young people to become thoughtful, creative, lifelong learners and self-disciplined, responsible, caring citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$20,465,796$23,075,704▲ $2,609,908
Investments Other Securities$10,956,563$12,907,501▲ $1,950,938
Savings and Temporary Cash Investments$7,916,558$10,246,194▲ $2,329,636
Pledges and Grants Receivable$2,234,426$2,336,493▲ $102,067
Cash and Non-Interest-Bearing Accounts$1,057,705$656,988▼ $400,717
Prepaid Expenses and Deferred Charges$727,173$587,988▼ $139,185
Accounts Receivable$98,987$114,949▲ $15,962
Inventories for Sale or Use$49,228$78,102▲ $28,874
Total Assets$43,506,436$50,003,919▲ $6,497,483
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,292,695$5,021,901▼ $270,794
Accounts Payable and Accrued Expenses$936,655$2,143,514▲ $1,206,859
Deferred Revenue$661,085$682,763▲ $21,678
Other Liabilities$514,363$345,182▼ $169,181
Total Liabilities$7,404,798$8,193,360▲ $788,562
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$25,517,037$29,624,470▲ $4,107,433
Net Assets With Donor Restrictions$10,584,601$12,186,089▲ $1,601,488
Total Net Assets Fund Balance$36,101,638$41,810,559▲ $5,708,921
Total Liabilities and Net Assets / Fund Balance$43,506,436$50,003,919▲ $6,497,483

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,962,899$10,387,284$26,350,183
Leasehold Improvements$1,540,761$4,466,231$6,006,992
Land$5,224,492-$5,224,492
Equipment$347,552$3,826,026$4,173,578
Other Securities$9,949,777--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$8,272,960$328,100▲ $1,130,112-$9,725,982
2022$7,832,530$54,100▲ $621,176-$8,272,960
2021$8,538,898$50,100▼ $732,943-$7,832,530
2020$9,184,478$56,053▼ $677,801-$8,538,898
2019$8,083,713$464,855▲ $635,910-$9,184,478
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael WalkerHead of SchoolFT$207,808$38,698$246,506
Charles MaumusAssistant Head of School for Finance & OperationsFT$213,190$20,992$234,182
Charles MaumusAssistant Head of School for Finance-$213,190$20,992$234,182
Laura UnderwoodDirector of Lower SchoolFT$162,136$17,929$180,065
Jay CodispotiDirector of Middle SchoolFT$126,499$15,791$142,290
Janet ShoemakerControllerFT$116,878$15,214$132,092
Ruthie LowneyDirector of AdvancementFT$112,862$14,973$127,835

Highest Paid Contractors

ContractorServicesLocationCompensation
The Parent CompanyNew Bldg Construction241 WILSON PIKE CIRCLE, Brentwood, TN 37024-5036$1,062,173
Hastings Architecture LLCNew Bldg Construction225 POLK AVE STE 100, Nashville, TN 37203$748,068
Apex Bldg Services LLCCleaning ServicesPO BOX 1831, Brentwood, TN 37024$224,503
Safe Haven Defense LLCWindow Film - Security3120 W CAREFREE WAY STE 1-668, Phoenix, AZ 85086$204,926
Revenue and Support

Revenue Composition

Contributions and Grants
$5,176,434
Program Service Revenue
$12,614,476
Investment Income
$62,396
Other Revenue
$311,690
All Other Contributions
$3,358,588
Change in Net Assets
$4,465,788

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded7$84,752Fair Market Value (FMV)
Total Noncash Contributions7$84,752-

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,164,996
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$2,488,655
Total Revenue per Audited Statements
$20,653,651
Total Revenue per Form 990
$18,164,996
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,158,511
Other Expenses$4,540,697
Total Fundraising Expense$674,056
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,922,778$1,685,764$315,449$6,923,991
Occupancy$987,999$132,911$10,575$1,131,485
Depreciation Depletion$906,175$66,209$2,439$974,823
Other Employee Benefits$619,444$229,995$49,299$898,738
Payroll Taxes$374,459$139,034$29,802$543,295
Current Officers, Directors, Trustees, and Key Employees$155,275$199,675$88,692$443,642
All Other Expenses$76,180$273,156$39,023$388,359
Pension Plan Contributions$240,438$89,272$19,135$348,845
Insurance$38,547$138,217$19,745$196,509
Other Expenses$31,594$113,286$16,184$161,064
Advertising$29,870$107,104$15,301$152,275
Interest$110,099$20,196-$130,295
Office Expenses$23,100$82,829$11,832$117,761
Fees for Services Accounting$7,895$28,310$4,044$40,249
Total Functional Expenses$9,351,441$3,673,711$674,056$13,699,208

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$14,944,730
Expenses per Audited Statements$13,699,208
Total Expenses per Form 990$13,699,208
Expenses Not Reported on Form 990$1,245,522
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,347,471
Fundraising Direct Expenses$1,014,228
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Parents Auxiliary$1,347,471$1,347,471$1,014,228$333,243
Total Events$1,347,471$1,347,471$1,014,228$333,243
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Obligations$345,182

Bond Issues

BondIssuerIssuedIssue PricePurpose
AHealth & Educ Board Metro Nashville Govt Tn2020-10-30$3,632,221Refi proj oblig prior bnd iss

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$3,632,221---

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
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
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

We provide a copy of the 990 to the audit committee for review and approval prior to filing the return.

Form 990, Part VI, Section B, Line 12C

Annual review by board of trustees. Annual disclosure requirement of any conflicting interests

Form 990, Part VI, Section B, Line 15A

Annual review of head of school performance by the executive committee of the board of trustees. A written employment contract is issued and signed by the board president and head of school. Final approval for compensation comes from the committee.

Form 990, Part VI, Section C, Line 19

All governing documents, conflict of interest policy, audited financial statements, and form 990 are available for review by the public upon request. These documents are maintained by the director of finance and operations.

Filing and Contact Details

Filer

Filer Name
Harding Academy
EIN
62-0852815
Phone
6153565510
Address
170 WINDSOR DRIVE, NASHVILLE, TN 37205

Signing Officer

Name
Jeff Moats
Title
Board of Trustees, President
Phone
6153565510
Signed
2025-04-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Moats
Formed
1971
Legal Domicile
Tn
Voting Board Members
18
Independent Board Members
18
Employees
199
Volunteers
150

Preparer

Firm
Cherry Bekaert Advisory LLC
Address
222 SECOND AVE SOUTH STE 1240, NASHVILLE, TN 37201
Preparer
Lauren Moses
Phone
6153836592
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The academy is exempt from federal income taxes under the provisions of section 501(c)(3) of the internal revenue code ("irc") and has been classified as an organization other than a private foundation. The academy's management asserts that all transactions that have occurred with disqualified individuals, including senior management, comply with provisions of irc section 4958. Harding academy property holdings, llc is a disregarded entity for income tax purposes, and its income or loss is reported on the tax return of its member, harding academy. Rental income is considered unrelated business taxable income and is taxable to the academy. During the years ended june 30, 2024 and 2023, harding academy property holdings, llc generated a net loss and did not result in income tax due from the academy. The academy recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authority based on the technical merits of the position. As of june 30, 2024 and 2023, there were no known items which would result in a material accrual related to federal or state tax positions.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 1,014,228. Rental expenses 231,294.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 1,014,228. Rental expenses 231,294.

Raw XML AppendixShowing 400 of 804 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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IRS990/ActivityOrMissionDesc0TO EDUCATE AND INSPIRE YOUNG PEOPLE TO BECOME THOUGHTFUL, CREATIVE, LIFELONG LEARNERS AND SELF-DISCIPLINED, RESPONSIBLE, CARING CITIZENS.
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