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Sequatchie Valley Preparatory Academy FY2023 filing

Tax-deductible

Dunlap, TN501(c)(3)EducationEIN 13-4214040Revenue $122K in FY2023

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.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
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
$55K
29% of total assets
Looks good: liabilities are 29% 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
$122K
-36% vs prior year
Spent
$130K
To programs
87%
Net assets
$134K
By yearFY2019–FY2025
Revenue
$122K
FY2023▼ -36%
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
$130K
FY2023▼ -3%
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
$134K
FY2023▼ -7%
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 FY2023 Form 990 (year ending July 2023) · see the original

990 PDF Claim
You’re viewing the FY2023 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

87 cents of each dollar spent went to programs.

Program services 87% · $112K Management & general 13% · $16K Fundraising 1% · $759

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 (FY2022); the FY2023 filing did not itemize Part VII
Roberta Ellis
Board of Directors
$0Pt VII · Sec A
Kimberly Peters
Board of Directors
$0Pt VII · Sec A
David Hartman
Board of Directors
$0Pt VII · Sec A
Jeffrey Dennis
Board of Directors
$0Pt VII · Sec A
Tamara Young
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 · $112K · in their own filed words · FY2022
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…

$112Kprogram 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
Amazonsmile FoundationFY2023$83
Total grants receivedfrom 1 funder$83

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$122K
Ln 12
Fees for servicesLn 2g$103K
Gifts and grantsLn 1h$19K
Money outPt IX
$130K
Ln 25
Programscol B$112K
Managementcol C$16K
Fundraisingcol D$759
Owns and owesPt X
$134K
net assets · Ln 32
Cash and savingsLn 1–2$34K
Total assetsLn 16$189K
LiabilitiesLn 26$55K
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$19K
Fundraising eventsLn 1c$8K
Fees for servicesLn 2g$103K
Total revenueLn 12$122K
Assets in detailPt X, end of year
CashLn 1$34K
Cash and savings togetherLn 1–2$34K
Land, buildings, equipmentLn 10c$155K
Total assetsLn 16$189K
LiabilitiesLn 26$55K
Net assetsLn 32$134K
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 FY23End FY23
Cash and savingsLn 1–2$13K$34K
Land, buildings, equipmentLn 10c$155K$155K
Total assetsLn 16$168K$189K
LiabilitiesLn 26$23K$55K
Net assetsLn 32$144K$134K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other employee benefitsLn 9$1K$1K
Management feesLn 11a$7K$7K
Legal feesLn 11b$8K$8K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$3K$3K
OccupancyLn 16$12K$11K$1K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$62$62
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$9K$9K
Other expenses (24a–d)Ln 24$36K$36K$436
All other expensesLn 24e$34K$30K$4K$759
Total functional expensesLn 25$130K$112K$16K$759

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $115K$134K−$19K$135K 990 PDF
FY2024 $136K$116K$20K$154K 990 PDF
FY2023 Viewing $122K$130K−$8K$134K 990 PDF
FY2022 $190K$134K$56K$144K 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $121,962 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $57,936$19,124
I-9 Program service revenuePrior year $131,838$102,838
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $189,774$121,962
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$1,200
I-16a Professional fundraising feesPrior year $294$0
I-17 Other expensesPrior year $133,492$128,434
I-18 Total expensesPrior year $133,786$129,634
I-19 Revenue less expensesPrior year $55,988−$7,672
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 $121,962 across 5 lines filed
VIII-1c Fundraising events$8,114
VIII-1f All other contributions, gifts and grants$11,010
VIII-1h Total contributions, gifts and grants$19,124
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $102,838$102,838
VIII-12 Total revenueRelated to mission $102,838 · Unrelated business $0 · Excluded from tax $0$121,962
Part IX · Statement of functional expenses $129,634 across 13 lines filed
IX-9 Other employee benefitsPrograms $1,200$1,200
IX-11a Management feesPrograms $7,000$7,000
IX-11b Legal feesManagement $8,000$8,000
IX-11g Other fees for servicesPrograms $6,328$6,328
IX-12 Advertising and promotionPrograms $4,255$4,255
IX-13 Office expensesManagement $2,982$2,982
IX-16 OccupancyPrograms $11,143 · Management $1,244$12,387
IX-17 TravelPrograms $1,092$1,092
IX-19 Conferences, conventions and meetingsManagement $62$62
IX-20 InterestPrograms $6,513$6,513
IX-22 Depreciation, depletion and amortizationPrograms $9,266$9,266
IX-24 Other expenses (24a–d)Programs $35,944 · Management $436$36,380
IX-24e All other expensesPrograms $29,724 · Management $3,686 · Fundraising $759$34,169
IX-25 Total functional expensesPrograms $112,465 · Management $16,410 · Fundraising $759$129,634
Part X · Balance sheet $189,408 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $12,528$34,181
X-10c Land, buildings and equipment, netStart of year $155,357$155,227
X-16 Total assetsStart of year $167,885$189,408
X-17 Accounts payable and accrued expensesStart of year $23,470$55,129
X-26 Total liabilitiesStart of year $23,470$55,129
X-27 Net assets without donor restrictionsStart of year $144,415$134,279
X-32 Total net assets or fund balancesStart of year $144,415$134,279
X-33 Total liabilities and net assetsStart of year $167,885$189,408
Part XI · Reconciliation of net assets $134,279 net assets at year end
XI-1 Total revenue$121,962
XI-2 Total expenses$129,634
XI-3 Revenue less expenses−$7,672
XI-4 Net assets at start of year$144,415
XI-8 Prior period adjustments$267
XI-9 Other changes in net assets−$2,731
XI-10 Net assets at end of year$134,279

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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