Sequatchie Valley Preparatory Academy FY2021 filing

Tax-deductible

Dunlap, TN501(c)(3)EducationEIN 13-4214040Revenue $102K in FY2021

On file with the IRS1050 Ray Hixson Rd, 37327-8931 · Dunlap, TNTax-exempt since Jul 2015School — 170(b)(1)(A)(ii)

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To provide a unique educaiton, with equine emphasis, for the purpose of developing a well-rounded student.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 7
filings with a surplus
Average surplus $4K a year · 3% of revenue · last 7 filings
Worth a look: a surplus in 3 of the last 7 filings.
Pt I · Ln 19 · 7 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $83
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$102K
-25% vs prior year
Spent
$124K
To programs
78%
Net assets
$170K
By yearFY2019–FY2025
Revenue
$102K
FY2021▼ -25%
Tap a bar for its year
Revenue by fiscal year
FY2019$243K
FY2020$137K
FY2021$102K
FY2022$190K
FY2023$122K
FY2024$136K
FY2025$115K
Expenses
$124K
FY2021▼ -29%
Tap a bar for its year
Expenses by fiscal year
FY2019$202K
FY2020$174K
FY2021$124K
FY2022$134K
FY2023$130K
FY2024$116K
FY2025$134K
Net assets
$170K
FY2021▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2019$279K
FY2020$192K
FY2021$170K
FY2022$144K
FY2023$134K
FY2024$154K
FY2025$135K

From the FY2021 Form 990 (year ending July 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2012-12-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Jul 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $97K Management & general 22% · $27K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board of Directors
$0Pt VII · Sec A
Board of Directors
$0Pt VII · Sec A
Board of Directors
$0Pt VII · Sec A
Board of Directors
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Sequatchie Valley Preparatory Academy executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develop well-rounded students through unique equine-focused education.

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Provided by the organization

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1 program · $97K · in their own filed words · FY2020
01

A Unique Education

Students engage in a plethora of extensive hands-on training, whether they are gifted students, or have special learning or behavioral needs. In addition to the dedicated teachers at the school, students are partnered with horses, who necome a vital role in their advancement in the field of veterinary medicine and academics, along with…

$97Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$83

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$102K
Ln 12
Fees for servicesLn 2g$58K
Gifts and grantsLn 1h$44K
Investment incomeLn 3$1
Money outPt IX
$124K
Ln 25
Programscol B$97K
Managementcol C$27K
Owns and owesPt X
$170K
net assets · Ln 32
Cash and savingsLn 1–2$11K
Total assetsLn 16$174K
LiabilitiesLn 26$4K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$44K
Government grantsLn 1e$30K
Fundraising eventsLn 1c$3K
Fees for servicesLn 2g$58K
Investment incomeLn 3$1
Total revenueLn 12$102K
Assets in detailPt X, end of year
CashLn 1$11K
Cash and savings togetherLn 1–2$11K
Land, buildings, equipmentLn 10c$163K
Total assetsLn 16$174K
LiabilitiesLn 26$4K
Net assetsLn 32$170K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$28K$11K
Land, buildings, equipmentLn 10c$165K$163K
Total assetsLn 16$200K$174K
LiabilitiesLn 26$8K$4K
Net assetsLn 32$192K$170K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$14K$14K
Accounting feesLn 11c$655$655
Lobbying feesLn 11d$21K$21K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$4K$4K
OccupancyLn 16$10K$10K
TravelLn 17$2K$2K
Conferences, conventions and meetingsLn 19$589$423$166
InterestLn 20$452$452
Depreciation, depletion and amortizationLn 22$11K$11K$155
InsuranceLn 23$377$377
Other expenses (24a–d)Ln 24$19K$19K$10
All other expensesLn 24e$29K$28K$1K
Total functional expensesLn 25$124K$97K$27K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $115K$134K−$19K$135K 990 PDF
FY2024 $136K$116K$20K$154K 990 PDF
FY2023 $122K$130K−$8K$134K 990 PDF
FY2022 $190K$134K$56K$144K 990 PDF
FY2021 Viewing $102K$124K−$22K$170K 990 PDF
FY2020 $137K$174K−$37K$192K 990 PDF
FY2019 $243K$202K$41K$279K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $102,006 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $19,328$43,844
I-9 Program service revenuePrior year $116,550$58,161
I-10 Investment incomePrior year $855$1
I-11 Other revenue$0
I-12 Total revenuePrior year $136,733$102,006
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $174,204$124,246
I-18 Total expensesPrior year $174,204$124,246
I-19 Revenue less expensesPrior year −$37,471−$22,240
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $102,006 across 7 lines filed
VIII-1c Fundraising events$2,642
VIII-1e Government grants$30,500
VIII-1f All other contributions, gifts and grants$10,702
VIII-1h Total contributions, gifts and grants$43,844
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $58,161$58,161
VIII-3 Investment incomeRelated to mission $1$1
VIII-12 Total revenueRelated to mission $58,162 · Unrelated business $0 · Excluded from tax $0$102,006
Part IX · Statement of functional expenses $124,246 across 14 lines filed
IX-11a Management feesPrograms $14,144$14,144
IX-11c Accounting feesManagement $655$655
IX-11d Lobbying feesManagement $20,992$20,992
IX-11g Other fees for servicesPrograms $6,397$6,397
IX-12 Advertising and promotionPrograms $5,315$5,315
IX-13 Office expensesManagement $3,956$3,956
IX-16 OccupancyPrograms $10,036$10,036
IX-17 TravelPrograms $2,354$2,354
IX-19 Conferences, conventions and meetingsPrograms $423 · Management $166$589
IX-20 InterestPrograms $452$452
IX-22 Depreciation, depletion and amortizationPrograms $10,611 · Management $155$10,766
IX-23 InsurancePrograms $377$377
IX-24 Other expenses (24a–d)Programs $18,953 · Management $10$18,963
IX-24e All other expensesPrograms $27,979 · Management $1,271$29,250
IX-25 Total functional expensesPrograms $97,041 · Management $27,205 · Fundraising $0$124,246
Part X · Balance sheet $174,071 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $28,362$11,485
X-10c Land, buildings and equipment, netStart of year $164,609$162,586
X-16 Total assetsStart of year $199,742$174,071
X-17 Accounts payable and accrued expensesStart of year $7,579$4,148
X-26 Total liabilitiesStart of year $7,579$4,148
X-27 Net assets without donor restrictionsStart of year $192,163$169,923
X-32 Total net assets or fund balancesStart of year $192,163$169,923
X-33 Total liabilities and net assetsStart of year $199,742$174,071
Part XI · Reconciliation of net assets $169,923 net assets at year end
XI-1 Total revenue$102,006
XI-2 Total expenses$124,246
XI-3 Revenue less expenses−$22,240
XI-4 Net assets at start of year$192,163
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$169,923

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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