Ascension Academy
- Assets
- $9.6m
- Revenue
- $3.3m
- Investments
- $381.4k
- Employees
- 58
- Location
- Amarillo, TX
- Founding
- 04/1996
- Data as of
- 06/2022
- EIN
- 75-2564283
Organization Overview
Ascension Academy is located in Amarillo, TX. 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 06/2022, Ascension Academy employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascension 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, Ascension Academy generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $2.4m during the year ending 06/2022. 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
TO PROVIDE AN EXEMPLARY COLLEGE PREPARATORY EDUCATION IN A CHALLENGING, FAITH-AFFIRMING ENVIRONMENT TO MAXIMIZE THE POTENTIAL OF EVERY STUDENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A SECONDARY SCHOOL EDUCATION WITH A FAITH-AFFIRMING ENVIRONMENT. THE SCHOOL HAD APPROXIMATELY 175 STUDENTS IN MIDDLE SCHOOL AND HIGH SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Oditt Head Of Scho | Officer | 40 | $139,574 |
Roxann Ball Regent | Trustee | 2 | $0 |
Steve Beckham Vice Chairma | OfficerTrustee | 2 | $0 |
Adair Buckner Secretary | OfficerTrustee | 2 | $0 |
Paul Engler Regent | Trustee | 2 | $0 |
Shane Hall Regent | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $368,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,256,121 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,624,321 |
| Total Program Service Revenue | $1,544,406 |
| Investment income | $11,069 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$19,892 |
| Net Gain/Loss on Asset Sales | -$1,574 |
| Net Income from Fundraising Events | $151,349 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,322,732 |
| 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. | $139,574 |
| Compensation of current officers, directors, key employees. | $27,915 |
| Compensation to disqualified persons | $38,317 |
| Other salaries and wages | $1,428,847 |
| Pension plan accruals and contributions | $30,518 |
| Other employee benefits | $40,496 |
| Payroll taxes | $100,489 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,093 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $22,120 |
| Office expenses | $7,895 |
| Information technology | $21,840 |
| Royalties | $0 |
| Occupancy | $32,774 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $55,060 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $266,394 |
| Insurance | $37,080 |
| All other expenses | $61,619 |
| Total functional expenses | $2,363,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $179,664 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,000,000 |
| Accounts receivable, net | $6,266 |
| 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 | $10,172 |
| Net Land, buildings, and equipment | $8,025,200 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $381,427 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,602,729 |
| Accounts payable and accrued expenses | $147,363 |
| Grants payable | $0 |
| Deferred revenue | $192,135 |
| 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 | $1,789,636 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,129,134 |
| Net assets without donor restrictions | $6,756,560 |
| Net assets with donor restrictions | $717,035 |
| 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 | $9,602,729 |