Gray Collegiate Academy Inc
- Assets
- $28.5m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 1
- Location
- West Columbia, SC
- Founding
- 11/2014
- Data as of
- 06/2022
- 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 06/2022, Gray Collegiate Academy Inc generated $8.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $8.1m during the year ending 06/2022. While expenses have increased by 9.3% 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
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 ATHELETICS WHILE EARNING UP TO TWO YEARS OF COLLEGE CREDIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRAY COLLEGIATE ACADEMY HAS BEEN SUCCESSFUL PROVIDING EXCELLENT EDUCATIONAL OPPORTUNITIES AS WELL AS ELITE ATHLETICS. IN SCHOOL YEAR 2021-2022, THE SCHOOL WON 3 STATE CHAMPIONSHIPS (FOOTBALL, BOYS' BASKETBALL, AND SOFTBALL), WERE STATE RUNNER UP IN 2 SPORTS (BOYS' SOCCER AND BASEBALL), AND HAD A 99.3% HIGH SCHOOL GRADUATION RATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Brazell Board Chair/pres | OfficerTrustee | 20 | $0 |
Pennie Peagler Vice President | OfficerTrustee | 0 | $0 |
Laura Stevens Sec/treas | OfficerTrustee | 0 | $0 |
Andy Markl Director | Trustee | 0 | $0 |
Trevor Kinard Director | Trustee | 0 | $0 |
Wayne Mckim Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,488,153 |
| All other contributions, gifts, grants, and similar amounts not included above | $131,593 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,619,746 |
| Total Program Service Revenue | $569,680 |
| Investment income | $16,152 |
| 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 | $8,205,578 |
| 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. | $189,700 |
| Compensation of current officers, directors, key employees. | $189,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,798,415 |
| Pension plan accruals and contributions | $43,341 |
| Other employee benefits | $570,120 |
| Payroll taxes | $195,508 |
| Fees for services: Management | $849,996 |
| Fees for services: Legal | $374,497 |
| Fees for services: Accounting | $65,807 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $122,059 |
| Advertising and promotion | $8,494 |
| Office expenses | $190,195 |
| Information technology | $203,861 |
| Royalties | $0 |
| Occupancy | $1,044,143 |
| Travel | $12,433 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $961,671 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $375,078 |
| Insurance | $39,830 |
| All other expenses | $3,535 |
| Total functional expenses | $8,141,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,054,681 |
| Savings and temporary cash investments | $12,998,420 |
| Pledges and grants receivable | $288,837 |
| Accounts receivable, net | $30,326 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,000,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,059 |
| Net Land, buildings, and equipment | $8,437,699 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,668,520 |
| Total assets | $28,495,542 |
| Accounts payable and accrued expenses | $1,488,913 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $23,170,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,222,275 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,000,000 |
| Total liabilities | $26,881,188 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $1,614,354 |
| Total liabilities and net assets/fund balances | $28,495,542 |