Providence Preparatory Academy
- Assets
- $1.4m
- Revenue
- $948.4k
- Investments
- $0.0
- Employees
- 43
- Location
- Wilmington, NC
- Founding
- 04/2014
- Data as of
- 05/2024
- EIN
- 46-1213069
Organization Overview
Providence Preparatory Academy is located in Wilmington, NC. The organization was established in 2014. 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 05/2024, Providence Preparatory Academy employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence Preparatory Academy 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 05/2024, Providence Preparatory Academy generated $948.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.4% each year . All expenses for the organization totaled $869.6k during the year ending 05/2024. While expenses have increased by 19.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDENCE PREPARATORY ACADEMY, INC. EXISTS TO GLORIFY GOD BY PARTNERING WITH PARENTS, POINTING STUDENTS TO CHRIST AND PROVIDING A CLASSICAL CHRISTIAN EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY AIMS TO HELP PARENTS RAISE UP LIFE LONG LEARNERS IN THE TRAINING AND ADMONITION OF THE LORD.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Niels Jorgensen Director | Trustee | 5 | $0 |
Brian Triplett Chairman | Officer | 5 | $0 |
Trevor Love Vice Chairman | Officer | 5 | $0 |
Tucker Polston Treasurer | Officer | 5 | $0 |
Kristen Triplett Secretary | Officer | 5 | $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 | $40,541 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,541 |
| Total Program Service Revenue | $746,842 |
| Investment income | $5,354 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $154,395 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $948,377 |
| 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 | $550,578 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,000 |
| Payroll taxes | $48,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,566 |
| Office expenses | $15,944 |
| Information technology | $9,406 |
| Royalties | $0 |
| Occupancy | $112,880 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,744 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,484 |
| All other expenses | $0 |
| Total functional expenses | $869,641 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $281,602 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $391,603 |
| 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 | $695,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,768 |
| Total assets | $1,371,973 |
| Accounts payable and accrued expenses | $7,683 |
| Grants payable | $0 |
| Deferred revenue | $375,017 |
| 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 | $486,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,126 |
| Total liabilities | $882,326 |
| Net assets without donor restrictions | $489,647 |
| 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 | $1,371,973 |