Gray Collegiate Academy Inc
- Assets
- $14.5m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 0
- Location
- West Columbia, SC
- Founding
- 11/2014
- Data as of
- 06/2021
- EIN
- 80-0912325
Organization Overview
Gray Collegiate Academy Inc is located in West Columbia, SC. The organization was established in 2014. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gray Collegiate 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, Gray Collegiate Academy Inc generated $7.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $5.8m during the year ending 06/2021. While expenses have increased by 4.2% 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
MISSION: GRAY COLLEGIATE ACADEMY (GCA) SERVES HIGH SCHOOL STUDENTS IN A SAFE, SMALL, FAMILY-CENTERED ENVIRONMENT WHO SEEK THE OPPORTUNITY AND CHALLENGE OF A RIGOROUS CURRICULUM, HIGH ACADEMIC STANDARDS, AND ELITE ATHLETICS WHILE EARNING UP TO TWO YEARS OF COLLEGE CREDIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MISSION: GRAY COLLEGIATE ACADEMY (GCA) SERVES HIGH SCHOOL STUDENTS IN A SAFE, SMALL, FAMILY-CENTERED ENVIRONMENT WHO SEEK THE OPPORTUNITY AND CHALLENGE OF A RIGOROUS CURRICULUM, HIGH ACADEMIC STANDARDS, AND ELITE ATHLETICS WHILE EARNING UP TO TWO YEARS OF COLLEGE CREDIT.
MISSION: GRAY COLLEGIATE ACADEMY (GCA) SERVES HIGH SCHOOL STUDENTS IN A SAFE, SMALL, FAMILY-CENTERED ENVIRONMENT WHO SEEK THE OPPORTUNITY AND CHALLENGE OF A RIGOROUS CURRICULUM, HIGH ACADEMIC STANDARDS, AND ELITE ATHLETICS WHILE EARNING UP TO TWO YEARS OF COLLEGE CREDIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William B Newsome School Princ | 60 | $175,580 | |
Pennie Peagler Vice Preside | OfficerTrustee | $0 | |
Teresa Brazell Brd. Chair-P | OfficerTrustee | 20 | $0 |
Laura Stevens Secretary/tr | OfficerTrustee | $0 | |
Trevor Kinard Director | Trustee | $0 | |
Mckenzie Long Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,096,454 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $7,397,949 |
| 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 | $1,733,687 |
| Pension plan accruals and contributions | $40,845 |
| Other employee benefits | $721,104 |
| Payroll taxes | $0 |
| Fees for services: Management | $671,524 |
| Fees for services: Legal | $156,882 |
| Fees for services: Accounting | $3,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $420,289 |
| Advertising and promotion | $18,639 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $258,187 |
| Travel | $8,347 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $560,291 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $216,591 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,814,178 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,795,522 |
| Savings and temporary cash investments | $922,999 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $197,564 |
| 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 | $32,503 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,354,216 |
| Total assets | $14,454,216 |
| Accounts payable and accrued expenses | $281,473 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $9,940,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $385,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,297,012 |
| Total liabilities | $12,903,485 |
| 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 | $1,550,731 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Gray Collegiate Academy Inc has recieved totaling $15,508.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $15,508 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
James Island Charter High School Charleston, SC | $22,889,433 | $20,877,381 |
Legacy Early College Greenville, SC | $11,865,335 | $23,115,805 |
Pine Lake Preparatory Inc Mooresville, NC | $43,880,592 | $18,139,159 |
Uwharrie Green School Inc Asheboro, NC | $37,750,042 | $15,359,750 |
Bradford Preparatory School Charlotte, NC | $43,531,972 | $16,692,910 |
Triangle Charter Education Association Inc Cary, NC | $23,775,884 | $15,148,719 |
Invest Collegiate Imagine Inc Asheville, NC | $38,770,080 | $14,359,175 |
Henderson Collegiate Henderson, NC | $34,215,458 | $16,220,503 |
Coastal Plains Education Center Inc Metter, GA | $21,944,449 | $17,839,473 |
Mountain Island Charter School Inc Mount Holly, NC | $10,307,817 | $15,645,892 |
High Point Academy Inc Spartanburg, SC | $32,871,458 | $16,108,414 |
Wesley International Academy Inc Atlanta, GA | $9,201,005 | $14,194,787 |