Civic Intelligence

Abilene Classical Academy

990 • Fiscal year 2022 • EIN 85-3681114

Jun 01, 2021 to May 31, 2022 • Filed on Sep 27, 2022

Organization Profilewww.abileneclassical.com
1425 S 7th StAbilene, TX 79602

(402) 754-5192

Siviq Scores

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

Liabilities / Assets

78th percentile

0.08x

Higher debt load relative to assets than 78% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

77th percentile

0.05x

Higher debt load relative to revenue than 77% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

87th percentile

45%

Higher net margin than 87% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

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

Source year 2022

Revenue Growth

Score unavailable

No value available

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

Source year 2022

Balance Sheet
Liabilities / Assets78th percentile

Assets

$119,543

No earlier filing loaded for comparison.

Net Assets

$109,717

No earlier filing loaded for comparison.

Liabilities

$9,826

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin87th percentile

Revenue

$216,194

No earlier filing loaded for comparison.

Expenses

$118,527

No earlier filing loaded for comparison.

Net Income

$97,667

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.

$400K$300K$200K$100K$0Assets 2022: $119,543Liabilities 2022: $9,826Net Assets 2022: $109,7172022Assets 2023: $127,114Liabilities 2023: $6,978Net Assets 2023: $120,1362023Assets 2024: $289,541Liabilities 2024: $69,806Net Assets 2024: $219,7352024Assets 2025: $347,380Liabilities 2025: $53,247Net Assets 2025: $294,1332025

Highlighted filing

2022

Assets$119,543
Liabilities$9,826
Net Assets$109,717
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$800K$600K$400K$200K$0Revenue 2022: $216,194Expenses 2022: $118,527Net Income 2022: $97,6672022Revenue 2023: $326,231Expenses 2023: $316,475Net Income 2023: $9,7562023Revenue 2024: $516,084Expenses 2024: $418,049Net Income 2024: $98,0352024Revenue 2025: $616,370Expenses 2025: $545,820Net Income 2025: $70,5502025

Highlighted filing

2022

Revenue$216,194
Expenses$118,527
Net Income$97,667
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Sep 27, 2022
Return Version
2021v4.0
Gross Receipts
$216,194
Mission and Program Overview

Mission

Education of Children from pre-school through 6th grade

Children's Education

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$27,150$119,543▲ $92,393
Rtn Earn Endowment Incm Other Fnds$11,150$108,717▲ $97,567
Cap Stk Tr Prin Current Funds$1,000$1,000→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$27,150$119,543▲ $92,393
Liabilities
Deferred Revenue$15,000$7,560▼ $7,440
Other Liabilities$0$2,266▲ $2,266
Total Liabilities$15,000$9,826▼ $5,174
Net Assets / Fund Balance
Total Net Assets Fund Balance$12,150$109,717▲ $97,567
Total Liabilities and Net Assets / Fund Balance$27,150$119,543▲ $92,393
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Blake WhiteBoard Member
Eric RichardsonBoard Member
Jackson BowenBoard member
Jeff SalmonBoard Member
John ReedBoard member
Joshua CornettBoard member
Pat SimsBoard Member
Taylor RoutanBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$38,080
Program Service Revenue
$178,114
Investment Income
$0
Other Revenue
$0
All Other Contributions
$38,080
Change in Net Assets
$97,667
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$71,429
Other Expenses$47,098
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$64,015--$64,015
Other Expenses$19,812$12,630$0$32,442
Payroll Taxes$7,414--$7,414
Conferences and Meetings$2,975--$2,975
Information Technology$1,519$1,412-$2,931
Fees for Services Other$1,406--$1,406
Insurance-$1,087-$1,087
Total Functional Expenses$102,898$15,629$0$118,527
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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 & TX Unemployment$2,266
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Section B, Line 11B

“Each member of the board received a draft of the return before filing for their review.”

Form 990, Part VI, Section B, Line 15

“There was no compensation paid to officers, directors or key employees in this fiscal year. However the independent board will review any paid in the future.”

Form 990, Part VI, Section C, Line 19

“All documents are kept at Abilene Classical Academy's office and are available for inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Abilene Classical Academy
EIN
85-3681114
Phone
4027545192
Address
1425 S 7th St, Abilene, TX 79602

Signing Officer

Name
John Reed
Title
Board Member
Phone
7136609298
Signed
2022-09-27

Organization Details

Principal Officer
Joshua Cornett
Formed
2020
Legal Domicile
TX
Voting Board Members
8
Independent Board Members
8
Employees
8
Volunteers
10
Supplemental Narrative

Additional Explanations

Form 990, Header, Line M

“Abilene Classical Academy did receive the use of facilities and a part-time employee of Southside Baptist church in this fiscal year; however, the instructions for lines 25 - 28 of Schedule M prohibits inclusion of any amount for those donations.”

Form 990, Part XI, Line 9

“Unexplained difference of $ -100”

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IRS990/ReconcilationRevenueExpnssAmt097667
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
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IRS990ScheduleE/DiscriminateRaceOtherActyInd00
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IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
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IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The policy is on the website and in any written materials
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Abilene Classical Academy did receive the use of facilities and a part-time employee of Southside Baptist church in this fiscal year; however, the instructions for lines 25 - 28 of Schedule M prohibits inclusion of any amount for those donations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each member of the board received a draft of the return before filing for their review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2There was no compensation paid to officers, directors or key employees in this fiscal year. However the independent board will review any paid in the future.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3All documents are kept at Abilene Classical Academy's office and are available for inspection upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Unexplained difference of $ -100
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Header, Line M
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd01

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$119,543
Liabilities
$9,826
Net assets
$109,717
Revenue
$216,194
Expenses
$118,527
Net income
$97,667
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.47$0.53$2.94$6.16$5.46$0.71
2024Detailed filing. Detailed filing data is available for this year.$2.90$0.70$2.20$5.16$4.18$0.98
2023Detailed filing. Detailed filing data is available for this year.$1.27$0.07$1.20$3.26$3.16$0.10
2022Detailed filing. Detailed filing data is available for this year.$1.20$0.10$1.10$2.16$1.19$0.98