Kings Academy Inc
- Assets
- $71.5m
- Revenue
- $41.1m
- Investments
- $11.9m
- Employees
- 417
- Location
- West Palm Beach, FL
- Founding
- 12/1970
- Data as of
- 06/2022
- EIN
- 59-1298881
Organization Overview
Kings Academy Inc is located in West Palm Beach, FL. The organization was established in 1970. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Kings Academy Inc employed 417 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kings Academy Inc 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, Kings Academy Inc generated $41.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $34.8m during the year ending 06/2022. While expenses have increased by 7.2% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION - NON-PROFIT CHRISTIAN SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMPREHENSIVE EDUCATION PROGRAM - PRESCHOOL THROUGH GRADE TWELVE, SERVING APPROXIMATELY 1,500 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randal Martin President | OfficerTrustee | 40 | $255,673 |
Douglas Raines V.p & Headmaster | Officer | 40 | $206,058 |
Jeffrey M Loveland Chief Operating Officer | Officer | 40 | $150,054 |
Adam Miller Elementary Principal | 40 | $111,196 | |
Jennifer Ceppo Middle School/high School Principal | 40 | $110,375 | |
Rosario Larson Development Director | 40 | $107,061 |
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 | $6,038,081 |
| Noncash contributions included in lines 1a–1f | $71,271 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,038,081 |
| Total Program Service Revenue | $33,560,041 |
| Investment income | $653,132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $542,998 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $311,453 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,105,705 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,332,755 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $517,404 |
| Compensation of current officers, directors, key employees. | $334,556 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,620,634 |
| Pension plan accruals and contributions | $486,800 |
| Other employee benefits | $1,012,005 |
| Payroll taxes | $793,756 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $76,108 |
| Fees for services: Other | $0 |
| Advertising and promotion | $41,409 |
| Office expenses | $207,989 |
| Information technology | $177,679 |
| Royalties | $0 |
| Occupancy | $3,716,287 |
| Travel | $215,922 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $347,295 |
| Interest | $352,552 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,074,605 |
| Insurance | $660,594 |
| All other expenses | $0 |
| Total functional expenses | $34,819,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,168,142 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,877,004 |
| Accounts receivable, net | $61,938 |
| Loans from Officers, Directors, or Controlling Persons | $11,793 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $318,012 |
| Prepaid expenses and deferred charges | $427,804 |
| Net Land, buildings, and equipment | $46,623,947 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,905,138 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $113,721 |
| Total assets | $71,507,499 |
| Accounts payable and accrued expenses | $2,278,343 |
| Grants payable | $0 |
| Deferred revenue | $9,678,360 |
| Tax-exempt bond liabilities | $16,514,209 |
| 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 | $842,282 |
| Total liabilities | $29,313,194 |
| Net assets without donor restrictions | $27,771,321 |
| Net assets with donor restrictions | $14,422,984 |
| 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 | $71,507,499 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Kings Academy Inc has recieved totaling $1,219,127.
| Awarding Organization | Amount |
|---|---|
Peter A And Deborah L Weinberg Family Foundation Albany, NY PURPOSE: HEAD OF SCHOOL IMPACT FUND | $1,000,000 |
Volo Foundation West Palm Beach, FL PURPOSE: GENERAL | $75,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $57,873 |
Servant Foundation Overland Park, KS PURPOSE: EDUCATION | $50,000 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $29,340 |
Macdonald Family Foundation Inc Pennington, NJ PURPOSE: UNRESTRICTED GENERAL | $5,000 |
Endowment Analysis
| Beg. Balance | $18,049,527 |
| Earnings | -$1,984,693 |
| Net Contributions | $5,340,043 |
| Other Expense | $5,164,491 |
| Ending Balance | $16,240,386 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kings Academy Inc West Palm Beach, FL | $71,507,499 | $41,105,705 |
Bridgeprep Academy Inc Miami, FL | $11,150,990 | $35,186,838 |
Westminster Christian School Miami, FL | $63,040,762 | $31,809,440 |
Scheck Hillel Community School Inc North Miami, FL | $32,581,738 | $29,091,360 |
Cushman School Inc Miami, FL | $60,717,443 | $28,827,418 |
Mt Paran Christian School Inc Kennesaw, GA | $56,928,804 | $29,889,603 |
The Hebrew Day School Of Broward County Inc Davie, FL | $31,151,205 | $23,429,832 |
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Carrollwood Day School Education Inc Tampa, FL | $44,857,641 | $20,567,249 |
Kipp Jacksonville Inc Jacksonville, FL | $9,839,108 | $19,518,543 |
Randolph School Huntsville, AL | $69,168,210 | $21,425,432 |
Renaissance Arts And Education Inc Palmetto, FL | $29,910,781 | $21,492,050 |