Civic Intelligence

Faith Academy

990 • Fiscal year 2019 • EIN 82-3695813

Jun 01, 2018 to May 31, 2019 • Filed on Apr 29, 2020

Organization Profilewww.faithacademyiowa.org
1030 Cross Park AveIowa City, IA 52240

(319) 351-4860

Siviq Scores

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

Liabilities / Assets

99th percentile

16.03x

Higher debt load relative to assets than 99% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

82nd percentile

0.09x

Higher debt load relative to revenue than 82% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

25th percentile

-8.6%

Higher net margin than 25% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets99th percentile

Assets

$1,864

No earlier filing loaded for comparison.

Net Assets

-$28,009

No earlier filing loaded for comparison.

Liabilities

$29,873

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin25th percentile

Revenue

$327,070

No earlier filing loaded for comparison.

Expenses

$355,079

No earlier filing loaded for comparison.

Net Income

-$28,009

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2019: $1,864Liabilities 2019: $29,873Net Assets 2019: -$28,0092019Assets 2020: $183,633Liabilities 2020: $172,985Net Assets 2020: $10,6482020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $10,6482021Assets 2022: $604,933Liabilities 2022: $0Net Assets 2022: $604,9332022Assets 2023: $1,065,863Liabilities 2023: $0Net Assets 2023: $1,065,8632023Assets 2024: $1,520,834Liabilities 2024: $2,688Net Assets 2024: $1,518,1462024

Highlighted filing

2019

Assets$1,864
Liabilities$29,873
Net Assets-$28,009
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2019: $327,070Expenses 2019: $355,079Net Income 2019: -$28,0092019Revenue 2020: $765,986Expenses 2020: $727,329Net Income 2020: $38,6572020Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021Revenue 2022: $1,207,307Expenses 2022: $874,919Net Income 2022: $332,3882022Revenue 2023: $1,376,055Expenses 2023: $915,125Net Income 2023: $460,9302023Revenue 2024: $1,689,001Expenses 2024: $1,236,718Net Income 2024: $452,2832024

Highlighted filing

2019

Revenue$327,070
Expenses$355,079
Net Income-$28,009
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2018 to May 31, 2019
Signed
Apr 29, 2020
Return Version
2018v3.1
Gross Receipts
$327,070
Mission and Program Overview

Mission

The objective of faith academy shall be to provide a christ-centered education, in the form of formal daily instruction, to low-income students in the iowa city area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$1,864-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Rtn Earn Endowment Incm Other Fnds-$-28,009-
Total Assets$0$1,864▲ $1,864
Other Assets Total-$0-
Liabilities
Other Liabilities-$29,873-
Total Liabilities$0$29,873▲ $29,873
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$-28,009▼ $28,009
Total Liabilities and Net Assets / Fund Balance$0$1,864▲ $1,864
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
David AspreyPresident
Julie DancerVice President
Brandi RadcliffeDirector
Darice KeatingDirector
Greg GroveDirector
Jill SchlottDirector
Doug FernExecutive Director
Craig WeltSecretary
Richard HoeferTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$296,218
Program Service Revenue
$30,790
Investment Income
$62
Other Revenue
$0
All Other Contributions
$296,218
Change in Net Assets
$-28,009
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$239,105
Other Expenses$72,184
Total Fundraising Expense$9,338
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$202,423$13,347$6,673$222,443
Benefits to Members$43,790--$43,790
All Other Expenses$15,970$1,056$525$17,551
Payroll Taxes$15,162$1,000$500$16,662
Fees for Services Accounting$10,187$671$336$11,194
Fees for Services Other$6,632$437$218$7,287
Other Expenses$5,134$339$169$5,642
Office Expenses$3,146$207$104$3,457
Insurance$2,539$167$84$2,790
Information Technology$48$3$2$53
Total Functional Expenses$327,062$18,679$9,338$355,079
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Parkview Church$29,873
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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 1A: Explanation of Delegated Broad Authority to Committee

“The board has 3 committees at present, Budget, Development and Accreditation. Any authority granted to committees is subject to approval by the Board of Directors.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is prepared by an independent certified public accountant who provides a draft to the Executive Director, Treasurer, and one additional director for review. Once approved by these three board members, the final draft is submitted to the full board for review prior to the board meeting at which a vote is taken to approve the signing and filing of Form 990.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The conflict of interest policy is referenced before the board approves any major purchase, and reviews expenses to ensure that no prohibited transactions took place.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The compensation for the Executive Director is reviewed and approved by the full board of directors, who utilize benchmarking data to assist in setting an appropriate compensation.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The compensation for other officers and key employees is reviewed and approved by the full board of directors, who utilize benchmarking data to assist in setting an appropriate compensation.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Upon Request”

Filing and Contact Details

Filer

Filer Name
Faith Academy
EIN
82-3695813
Phone
3193514860
Address
1030 Cross Park Ave, Iowa City, IA 52240

Signing Officer

Name
Craig Welt
Title
Secretary
Phone
3194005090
Signed
2020-04-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Welt
Formed
2017
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
85

Preparer

Firm
EHM Girvan Inc
Address
4723 Canterbury Ct, Iowa City, IA 52245
Preparer
Kyle Galloway
Phone
3195302049
Supplemental Narrative

Additional Explanations

Determination of the number of volunteers reported in Part I.

“Volunteer numbers were determined via the Office Administrator's documentation of active volunteers and volunteer background checks performed.”

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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/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/Desc0Academic Tutition
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt030790
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt030790
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-28009
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-28009
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt029873
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Parkview Church
IRS990ScheduleD/TotalLiabilityAmt029873
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/ExplanationTxt0A notice of non-discriminatory policy has not been published in a newspaper of general circulation or broadcast media because that is not the key way news/information is disseminated regarding Faith Academy. The non-discrimination policy is published on the homepage of the school's website www.faithacademyiowa.org
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board has 3 committees at present, Budget, Development and Accreditation. Any authority granted to committees is subject to approval by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is prepared by an independent certified public accountant who provides a draft to the Executive Director, Treasurer, and one additional director for review. Once approved by these three board members, the final draft is submitted to the full board for review prior to the board meeting at which a vote is taken to approve the signing and filing of Form 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The conflict of interest policy is referenced before the board approves any major purchase, and reviews expenses to ensure that no prohibited transactions took place.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The compensation for the Executive Director is reviewed and approved by the full board of directors, who utilize benchmarking data to assist in setting an appropriate compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The compensation for other officers and key employees is reviewed and approved by the full board of directors, who utilize benchmarking data to assist in setting an appropriate compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Upon Request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Volunteer numbers were determined via the Office Administrator's documentation of active volunteers and volunteer background checks performed.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 1a: Explanation of Delegated Broad Authority to Committee
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Determination of the number of volunteers reported in Part I.
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt01864
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt01864
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0296218
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt09338
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018679
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0327062
IRS990/TotalFunctionalExpensesGrp/TotalAmt0355079
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt029873
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt029873
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-28009
IRS990/TotalProgramServiceExpensesAmt0327062
IRS990/TotalProgramServiceRevenueAmt030790
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt030852
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0327070
IRS990/TotalVolunteersCnt085
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01864
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,864
Liabilities
$29,873
Net assets
-$28,009
Revenue
$327,070
Expenses
$355,079
Net income
-$28,009
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.52$0.00$1.52$1.69$1.24$0.45
2023Detailed filing. Detailed filing data is available for this year.$1.07$0.00$1.07$1.38$0.92$0.46
2022Detailed filing. Detailed filing data is available for this year.$0.60$0.00$0.60$1.21$0.87$0.33
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.01$0.00$0.00$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.18$0.17$0.01$0.77$0.73$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.03$0.03$0.33$0.36$0.03