New Hope Academy
- Assets
- $3.8m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 56
- Location
- Franklin, TN
- Founding
- 11/1996
- Data as of
- 06/2021
- EIN
- 63-1172489
Organization Overview
New Hope Academy is located in Franklin, TN. The organization was established in 1996. 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 Academy employed 56 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope 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 06/2021, New Hope Academy generated $4.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $4.7m during the year ending 06/2021. While expenses have increased by 1.8% 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
NHA IS A CHRIST-CENTERED COMMUNITY SCHOOL WITH AN ECONOMICALLY, RACIALLY, AND CULTURALLY DIVERSE STUDENT BODY. IT EXISTS TO SERVE LOW-INCOME FAMILIES BY ESTABLISHING A SOLID BIBLICAL WORLDVIEW, INSTILLING VISION, CONFIRMING HOPE AND PREPARING STUDENTS FOR A LIFE OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NHA OPERATES AN INNER CITY PRIVATE ELEMENTARY SCHOOL WITH ENROLLMENT OF MORE THAN 220 STUDENTS IN GRADES PRE-K THROUGH 6TH GRADE. PROGRAM SERVICE REVENUE IS DERIVED FROM STUDENT TUITION AND RELATED ACADEMIC FEES. PROGRAM SERVICE EXPENSES HAVE BEEN INCURRED IN THE OPERATION OF THE SCHOOL.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Devin Delaughter Headmaster | 40 | $122,332 | |
Chris Jenkins Chair | OfficerTrustee | 2 | $0 |
Ronnie Williams Vice Chair | OfficerTrustee | 2 | $0 |
Courtney Yezerski Treasurer | OfficerTrustee | 2 | $0 |
Kristan Gordon Secretary | OfficerTrustee | 2 | $0 |
Paige Pitts Founding Mem | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,961,038 |
| Investment income | $88,840 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $23,020 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,690,606 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,466,204 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $113,319 |
| Compensation to disqualified persons | $122,332 |
| Other salaries and wages | $1,598,095 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $134,388 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,432 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,609 |
| Advertising and promotion | $0 |
| Office expenses | $146,884 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $208,120 |
| Travel | $3,058 |
| 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 | $72,284 |
| Insurance | $215,132 |
| All other expenses | $0 |
| Total functional expenses | $4,716,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,923 |
| Savings and temporary cash investments | $1,245,449 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,494 |
| 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 |
| Investments—publicly traded securities | $653,451 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $135,000 |
| Total assets | $3,826,661 |
| Accounts payable and accrued expenses | $40,181 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $900,007 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $143,369 |
| Total liabilities | $1,083,557 |
| 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 | $2,743,104 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that New Hope Academy has recieved totaling $240,819.
| Awarding Organization | Amount |
|---|---|
Servant Foundation Overland Park, KS PURPOSE: EDUCATION | $57,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $50,750 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $50,500 |
Angel Corps Nashville, TN PURPOSE: GENERAL OPERATING SUPPORT | $26,000 |
East Tennessee Foundation Knoxville, TN PURPOSE: GEN/OPER SUPPORT | $26,000 |
The Community Fdn Of Middle Tn Inc Nashville, TN PURPOSE: TO PROVIDE BIG PAYBACK 2021 GIVING DAY PAYMENT. | $11,412 |
Endowment Analysis
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 |