New Hope Christian Academy Inc
- Assets
- $7.2m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 102
- Location
- Memphis, TN
- Founding
- 11/1995
- Data as of
- 06/2021
- EIN
- 62-1612178
Organization Overview
New Hope Christian Academy Inc is located in Memphis, 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 06/2021, New Hope Christian Academy Inc employed 102 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope 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, New Hope Christian Academy Inc generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $7.0m during the year ending 06/2021. 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
COLLEGE PREPARATORY ELEMENTARY EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
URBAN COLLEGE PREPARATORY ELEMENTARY SCHOOL PROVIDING STUDENTS WITH A CHALLENGING INTELLECTUAL AND CHIRST-CENTERED EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lionel Cable Head Of School | OfficerTrustee | 50 | $151,703 |
Elizabeth Stone Chief Financial Officer | Officer | 40 | $117,820 |
Isaac Byrd Chairman | OfficerTrustee | 1 | $0 |
Ken Bennett Board Member | Trustee | 1 | $0 |
Elliot Perry Board Member | Trustee | 1 | $0 |
Murff Galbreath Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,284,625 |
| All other contributions, gifts, grants, and similar amounts not included above | $283,116 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,567,741 |
| Total Program Service Revenue | $654,765 |
| Investment income | $110,315 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $534,255 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,867,076 |
| 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. | $292,124 |
| Compensation of current officers, directors, key employees. | $144,383 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,187,723 |
| Pension plan accruals and contributions | $85,578 |
| Other employee benefits | $324,946 |
| Payroll taxes | $277,289 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,093 |
| Advertising and promotion | $23,314 |
| Office expenses | $70,771 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $221,173 |
| Insurance | $41,397 |
| All other expenses | $380,048 |
| Total functional expenses | $6,959,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $660,837 |
| Savings and temporary cash investments | $921,170 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $282,094 |
| 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 | $357,565 |
| Net Land, buildings, and equipment | $2,600,890 |
| Investments—publicly traded securities | $2,336,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,158,556 |
| Accounts payable and accrued expenses | $196,445 |
| Grants payable | $0 |
| Deferred revenue | $29,391 |
| 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 | $1,446,336 |
| Total liabilities | $1,672,172 |
| Net assets without donor restrictions | $5,435,998 |
| Net assets with donor restrictions | $50,386 |
| 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 | $7,158,556 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that New Hope Christian Academy Inc has recieved totaling $927,096.
| Awarding Organization | Amount |
|---|---|
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $853,935 |
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $44,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $20,360 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $7,500 |
Thomas M Garrott Foundation Orlando, FL PURPOSE: GENERAL OPERATING | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $301 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Delta Inc Helena, AR | $23,299,418 | $20,055,239 |
Hope Educational & Research Center St Louis, MO | $196,443,117 | $45,382,338 |
Louisville Collegiate School Louisville, KY | $44,243,091 | $19,424,992 |
Pulaski Academy Little Rock, AR | $31,968,373 | $17,811,246 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Kentucky Country Day School Inc Louisville, KY | $45,327,857 | $17,940,550 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Episcopal Collegiate School Little Rock, AR | $113,498,551 | $17,410,081 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Republic Schools Inc Jackson, MS | $19,525,941 | $20,988,573 |