Grace Prep Incorporated
- Assets
- $406.3k
- Revenue
- $723.9k
- Investments
- $0.0
- Employees
- 14
- Location
- State College, PA
- Founding
- 08/2005
- Data as of
- 06/2022
- EIN
- 20-1224844
Organization Overview
Grace Prep Incorporated is located in State College, PA. The organization was established in 2005. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Grace Prep Incorporated employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Prep Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Grace Prep Incorporated generated $723.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $723.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRIVATE CHRISTIAN SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION OF APPROXIMATELY 50 STUDENTS IN GRADES 9 THROUGH 12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Gresh President | OfficerTrustee | 2 | $0 |
Robi Hairs Vp/treasurer | Trustee | 2 | $0 |
Steve Moyer Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $124,059 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $124,059 |
| Total Program Service Revenue | $599,766 |
| Investment income | $50 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $723,875 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $453,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $53,346 |
| Payroll taxes | $30,311 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,102 |
| Advertising and promotion | $10,950 |
| Office expenses | $19,826 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,468 |
| Travel | $10,842 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,308 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,096 |
| Insurance | $4,696 |
| All other expenses | $4,325 |
| Total functional expenses | $723,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,236 |
| Savings and temporary cash investments | $276,448 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,109 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $21,537 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $406,330 |
| Accounts payable and accrued expenses | $11,704 |
| Grants payable | $0 |
| Deferred revenue | $79,126 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $90,830 |
| Net assets without donor restrictions | $315,500 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $406,330 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Grace Prep Incorporated has recieved totaling $54,500.
| Awarding Organization | Amount |
|---|---|
Central Pennsylvania Scholarship Fund Tyrone, PA PURPOSE: PENNSYLVANIA EITC SCHOLARSHIPS | $48,500 |
Vanguard Charitable Endowment Program Southeastern, PA PURPOSE: FOR RECIPIENT'S EXEMPT PURPOSE | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trustees Of The Lawrenceville School Lawrenceville, NJ | $908,146,906 | $142,227,478 |
The Hill School Pottstown, PA | $339,549,890 | $89,638,080 |
Regents Of The Mercersburg College Mercersburg, PA | $535,140,744 | $49,172,082 |
Gilman School Inc Baltimore, MD | $238,892,271 | $38,036,593 |
Blair Academy Blairstown, NJ | $256,075,147 | $54,316,334 |
Holton-Arms School Inc Bethesda, MD | $133,918,121 | $38,119,997 |
Western Reserve Academy Hudson, OH | $203,998,204 | $58,141,913 |
The Seven Hills Schools Cincinnati, OH | $111,206,150 | $34,365,521 |
Morristown-Beard School Morristown, NJ | $71,175,267 | $35,071,625 |
Pennington School Pennington, NJ | $95,126,184 | $33,377,887 |
St Andrews Episcopal School Inc Potomac, MD | $83,174,031 | $30,817,454 |
St Andrews School Of Delaware Inc Middletown, DE | $398,873,444 | $32,788,416 |