Providence Academy
- Assets
- $17.1m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 139
- Location
- Johnson City, TN
- Founding
- 10/1995
- Data as of
- 06/2022
- EIN
- 62-1564142
Organization Overview
Providence Academy is located in Johnson City, TN. The organization was established in 1995. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Providence Academy employed 139 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence 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 06/2022, Providence Academy generated $10.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $6.4m during the year ending 06/2022. While expenses have increased by 7.6% 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
PROVIDENCE ACADEMY PARTNERS WITH PARENTS TO EQUIP STUDENTS TO DEVELOP SPIRITUAL MATURITY AND ACHIEVE ACADEMIC EXCELLENCE THROUGH A BIBLICALLY-BASED, CHRIST-CENTERED, CLASSICAL EDUCATION, SO THEY WILL THINK AND LIVE IN A MANNER WHICH BRINGS GLORY TO GOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A NOT FOR PROFIT EDUCATIONAL FACILITY, PROVIDING EDUCATION TO STUDENTS IN GRADES K-12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morris Henard Ex-Officio | Trustee | 1 | $0 |
Bj Smith Vice-Chairman | OfficerTrustee | 1 | $0 |
Earle Chute Board Member | Trustee | 1 | $0 |
Mark Hecht Board Member | Trustee | 1 | $0 |
Josh Puhr Board Member | Trustee | 1 | $0 |
Alisa Vancott Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $497,086 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,063,389 |
| Noncash contributions included in lines 1a–1f | $69,015 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,560,475 |
| Total Program Service Revenue | $4,970,814 |
| Investment income | $2,005 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,255 |
| Net Income from Fundraising Events | $473,212 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,009,761 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $443,515 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $122,059 |
| Compensation of current officers, directors, key employees. | $23,610 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,157,279 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $276,042 |
| Payroll taxes | $252,512 |
| 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 | $0 |
| Fees for services: Other | $67,927 |
| Advertising and promotion | $9,325 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $96,279 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $20,867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $337,064 |
| Insurance | $35,574 |
| All other expenses | $410,094 |
| Total functional expenses | $6,365,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,161,257 |
| Pledges and grants receivable | $2,782,912 |
| Accounts receivable, net | $3,925,083 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,292 |
| Prepaid expenses and deferred charges | $123,608 |
| Net Land, buildings, and equipment | $7,092,936 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,103,088 |
| Accounts payable and accrued expenses | $156,224 |
| Grants payable | $0 |
| Deferred revenue | $5,267,494 |
| 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 | $122,585 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $371,931 |
| Total liabilities | $5,918,234 |
| Net assets without donor restrictions | $7,631,014 |
| Net assets with donor restrictions | $3,553,840 |
| 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 | $17,103,088 |