Freedom Christian Academy Inc
- Assets
- $8.1m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 184
- Location
- Fayetteville, NC
- Founding
- 06/2010
- Data as of
- 06/2021
- EIN
- 61-1585719
Organization Overview
Freedom Christian Academy Inc is located in Fayetteville, NC. The organization was established in 2010. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 06/2022, Freedom Christian Academy Inc employed 184 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freedom Christian 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 06/2021, Freedom Christian Academy Inc generated $4.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $4.1m during the year ending 06/2021. While expenses have increased by 2.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A NUTURING ENVIRONMENT THAT ENCOURAGES AND EQUIPS ITS STUDENTS TO FULLY SEEK TRUTH FOR THEIR LIVES AND PRODUCES CITIZEN-LEADERS OF EXCELLENCE, WISDOM, AND CHRISTIAN FAITH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESCHOOL AND GRADES K THROUGH 12 WERE OFFERED. 2021-2022 WAS THE TWELFTH YEAR OF OPERATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelvin Thompson Bod Vice Chair | OfficerTrustee | 1 | $0 |
Anna Wiggins Board Member | Trustee | 1 | $0 |
Rebecca Calhoun Board Member | Trustee | 1 | $0 |
Albert Norton Bod - Chair | OfficerTrustee | 1 | $0 |
Tracy Pounders Board Member | Trustee | 1 | $0 |
Mark Morse Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $763,532 |
| Investment income | $17 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $89,477 |
| Net Gain/Loss on Asset Sales | -$300 |
| Net Income from Fundraising Events | $34,442 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $18,453 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,863,005 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $2,240,225 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,263 |
| Payroll taxes | $174,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,187 |
| Fees for services: Accounting | $18,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,068 |
| Advertising and promotion | $6,753 |
| Office expenses | $42,666 |
| Information technology | $77,825 |
| Royalties | $0 |
| Occupancy | $290,543 |
| Travel | $11,335 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,472 |
| Interest | $436,385 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $268,389 |
| Insurance | $62,647 |
| All other expenses | $0 |
| Total functional expenses | $4,102,973 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $790,524 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,483 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,125 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $142,933 |
| Other assets | $35,448 |
| Total assets | $8,138,877 |
| Accounts payable and accrued expenses | $88,782 |
| Grants payable | $0 |
| Deferred revenue | $308,154 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $3,886,056 |
| Secured mortgages and notes payable | $4,503,229 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,798,807 |
| Total liabilities | $10,585,028 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$2,446,151 |