Liabilities / Assets
87th percentile
Higher debt load relative to assets than 87% of similar nonprofits.
Grace Academy of Georgetown
990 • Fiscal year 2013 • EIN 74-2873246
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.82x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
77th percentile
Faster asset growth than 77% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Up$3,682,665
Up $456,807 (+14%) from 2012
Net Assets
Up$649,280
Up $248,533 (+62%) from 2012
Liabilities
Up$3,033,385
Up $208,274 (+7.4%) from 2012
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Down$1,382,516
Down $94,239 (-6.4%) from 2012
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2012 to Jun 30, 2013
- Signed
- Oct 22, 2013
- Return Version
- 2012v2.3
- Gross Receipts
- $1,811,381
Mission and Program Overview
Mission
Elementary and secondary education grades k-12. Grace academy offers liberal arts education in the historic classical christian format focusing on grammar, logic, and rhetoric in each subject area.
Major Activities
- Activity 2
- Financial assistance. The school seeks to support its other primary program services through need-based financial assistance to families. Need is determined using the assistance of an outside financial aid assessment company and their widely-used methodology for assessing financial need. A financial aid committee reviews the assessment from the outside company and makes financial aid awards. The committee is comprised of independent members of the school community who serve on a multi-year volunteer basis. Committee members are independent of the financial aid awarding process, being ineligible to receive financial assistance while serving on the committee. Committee members remain unbiased in their assessment and decision-making processes as all documents reviewed by the committee have identifying information removed from the files (e.g. Names, addresses, ethnicity, etc.) the committee functions under the school's policy prohibiting unlawful discrimination in the financial aid awarding process. The amount of assistance given in the current year was 128,061. It is included in discounts and scholarships on page 9, part viii, line 2c.
Filing and Contact Details
Filer
- EIN
- 74-2873246
Raw XML AppendixShowing 400 of 426 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/AccountsReceivable/EOY | 0 | 800607 |
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| IRS990/Activity2/Description | 0 | FINANCIAL ASSISTANCE. THE SCHOOL SEEKS TO SUPPORT ITS OTHER PRIMARY PROGRAM SERVICES THROUGH NEED-BASED FINANCIAL ASSISTANCE TO FAMILIES. NEED IS DETERMINED USING THE ASSISTANCE OF AN OUTSIDE FINANCIAL AID ASSESSMENT COMPANY AND THEIR WIDELY-USED METHODOLOGY FOR ASSESSING FINANCIAL NEED. A FINANCIAL AID COMMITTEE REVIEWS THE ASSESSMENT FROM THE OUTSIDE COMPANY AND MAKES FINANCIAL AID AWARDS. THE COMMITTEE IS COMPRISED OF INDEPENDENT MEMBERS OF THE SCHOOL COMMUNITY WHO SERVE ON A MULTI-YEAR VOLUNTEER BASIS. COMMITTEE MEMBERS ARE INDEPENDENT OF THE FINANCIAL AID AWARDING PROCESS, BEING INELIGIBLE TO RECEIVE FINANCIAL ASSISTANCE WHILE SERVING ON THE COMMITTEE. COMMITTEE MEMBERS REMAIN UNBIASED IN THEIR ASSESSMENT AND DECISION-MAKING PROCESSES AS ALL DOCUMENTS REVIEWED BY THE COMMITTEE HAVE IDENTIFYING INFORMATION REMOVED FROM THE FILES (E.G. NAMES, ADDRESSES, ETHNICITY, ETC.) THE COMMITTEE FUNCTIONS UNDER THE SCHOOL'S POLICY PROHIBITING UNLAWFUL DISCRIMINATION IN THE FINANCIAL AID AWARDING PROCESS. THE AMOUNT OF ASSISTANCE GIVEN IN THE CURRENT YEAR WAS 128,061. IT IS INCLUDED IN DISCOUNTS AND SCHOLARSHIPS ON PAGE 9, PART VIII, LINE 2C. |
| IRS990/ActivityOrMissionDescription | 0 | ELEMENTARY AND SECONDARY EDUCATION GRADES K-12. GRACE ACADEMY OFFERS LIBERAL ARTS EDUCATION IN THE HISTORIC CLASSICAL CHRISTIAN FORMAT FOCUSING ON GRAMMAR, LOGIC, AND RHETORIC IN EACH SUBJECT AREA. |
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| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | IDENTIFYING INFORMATION REMOVED FROM THE FILES (E.G. NAMES, ADDRESSES, ETHNICITY, ETC.) THE COMMITTEE FUNCTIONS UNDER THE SCHOOL'S POLICY PROHIBITING UNLAWFUL DISCRIMINATION IN THE FINANCIAL AID AWARDING PROCESS. THE AMOUNT OF ASSISTANCE GIVEN IN THE CURRENT YEAR WAS 128,061. IT IS INCLUDED IN DISCOUNTS AND SCHOLARSHIPS ON PAGE 9, PART VIII, LINE 2C. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE PRIOR TO FILING. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | CONFLICT OF INTEREST STATEMENTS ARE COMPLETED AND REVIEWED ANNUALLY. ALL OFFICERS, DIRECTORS OR TRUSTEES, AND KEY EMPLOYEES COMPLETE A QUESTIONNAIRE REGARDING CONFLICTS OF INTEREST. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | WAGES FOR ALL EMPLOYEES, INCLUDING TOP MANAGEMENT, ARE APPROVED BY VOTE OF THE BOARD OF TRUSTEES ANNUALLY BASED ON WAGE HISTORY, INDUSTRY STANDARDS, AND QUALIFICATIONS OF THE EMPLOYEE. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | KEY EMPLOYEE COMPENSATION IS SET BY THE BOARD. PAYMENT ACTIVITY IS RECONCILED REGULARLY. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. CONFLICT OF INTEREST POLICY IS POSTED ON THE ORGANIZATION'S WEBSITE. FINANCIAL STATEMENTS ARE DISCUSSED AT THE ANNUAL MEETING. |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | SECOND ACCOMPLISHMENT DESCRIPTION |
| IRS990ScheduleO/GeneralExplanation/Identifier | 1 | ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 |
| IRS990ScheduleO/GeneralExplanation/Identifier | 2 | ENFORCEMENT OF CONFLICTS POLICY |
| IRS990ScheduleO/GeneralExplanation/Identifier | 3 | COMPENSATION PROCESS FOR TOP OFFICIAL |
| IRS990ScheduleO/GeneralExplanation/Identifier | 4 | COMPENSATION PROCESS FOR OFFICERS |
| IRS990ScheduleO/GeneralExplanation/Identifier | 5 | GOVERNING DOCUMENTS DISCLOSURE EXPLANATION |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990, PAGE 2, PART III, LINE 4B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | FORM 990, PAGE 6, PART VI, LINE 19 |
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| IRS990/TheBooksAreInCareOf/AddressUS/State | 0 | TX |
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| IRS990/TotalAssetsBOY | 0 | 3225858 |
| IRS990/TotalAssets/EOY | 0 | 3682665 |
| IRS990/TotalAssetsEOY | 0 | 3682665 |
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| IRS990/TotalExpensesCurrentYear | 0 | 1382516 |
| IRS990/TotalExpensesPriorYear | 0 | 1476755 |
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| IRS990/TotalFunctionalExpenses/ManagementAndGeneral | 0 | 332215 |
| IRS990/TotalFunctionalExpenses/ProgramServices | 0 | 1033640 |
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| IRS990/TotalFundrsngExpCurrentYear | 0 | 16661 |
| IRS990/TotalGrossUBI | 0 | 0 |
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| IRS990/TotalLiabilitiesBOY | 0 | 2825111 |
| IRS990/TotalLiabilities/EOY | 0 | 3033385 |
| IRS990/TotalLiabilitiesEOY | 0 | 3033385 |
| IRS990/TotalLiabNetAssetsFundBalances/BOY | 0 | 3225858 |
| IRS990/TotalLiabNetAssetsFundBalances/EOY | 0 | 3682665 |
| IRS990/TotalNbrEmployees | 0 | 43 |
| IRS990/TotalNbrVolunteers | 0 | 50 |
| IRS990/TotalNetAssetsFundBalances/BOY | 0 | 400747 |
| IRS990/TotalNetAssetsFundBalances/EOY | 0 | 649280 |
| IRS990/TotalOtherRevenue | 0 | 87745 |
| IRS990/TotalProfFundrsngExpCY | 0 | 0 |
| IRS990/TotalProgramServiceExpense | 0 | 1033640 |
| IRS990/TotalProgramServiceRevenue | 0 | 1205110 |
| IRS990/TotalRevenueCurrentYear | 0 | 1631049 |
| IRS990/TotalRevenuePriorYear | 0 | 1509679 |
| IRS990/TotalRevenue/RelatedOrExemptFunctionIncome | 0 | 1293102 |
| IRS990/TotalRevenue/TotalRevenueColumn | 0 | 1631049 |
| IRS990/TransfersToExemptNonChrtblOrg | 0 | false |
| IRS990/TypeOfOrganizationCorporation | 0 | X |
| IRS990/UnrelatedBusinessIncome | 0 | false |
| IRS990/UnrestrictedNetAssets/BOY | 0 | 376572 |
| IRS990/UnrestrictedNetAssets/EOY | 0 | 606126 |
| IRS990/UponRequest | 0 | X |
| IRS990/WebSite | 0 | WWW.GRACEACADEMY-GT.ORG |
| IRS990/WhistleblowerPolicy | 0 | true |
| IRS990/YearFormation | 0 | 1998 |
| ReturnHeader/BuildTS | 0 | 2015-11-30 17:44:51Z |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2013 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $3,682,665
- Liabilities
- $3,033,385
- Net assets
- $649,280
- Revenue
- -
- Expenses
- $1,382,516
- Net income
- -