Greyfriars Classical Academy EIN 26-3541575 Form 990 (PDF) Claim this org

Greyfriars Classical Academy FY2021 filing

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Teaches students classical subjects using grammar, logic, and rhetoric from a biblical perspective. For fiscal year 2021 it reported $626K in revenue, $479K in expenses, and $387K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Matthews, NC
Website
greyfriarsclassical.org
Filings
5 on file (2021–2021)
Revenue
$626KFY2021
Expenses
$479K
Net assets
$387K
People
6
Filings
5
Updates
0
More identity details & actions ⌄
EIN  26-3541575 Public charity (501(c)(3)) Matthews, NC
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Teaches students classical subjects using grammar, logic, and rhetoric from a biblical perspective.
Leadership
Nathan Trice · Director
Money in and out
$626K revenue, $479K expenses
Bottom line
100% program efficiency
Where the money goes · FY2021
Total revenue
$626K
Pt VIII · Ln 12
Total expenses
$479K
Pt IX · Ln 25
Net assets
$387K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $147K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs
Operating runway
11.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
+23%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$626K
FY2021
Expenses
$479K
FY2021
Total assets
$454K
FY2021
Total liabilities
$68K
FY2021
Total revenue
$626K
Pt VIII · Ln 12
Total expenses
$479K
Pt IX · Ln 25
Net assets
$387K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$147K
Total assetsPt X · Ln 16$454K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGreyfriars Classical Academy
EINHdr · item D26-3541575
Principal addressHdr · item CMatthews, NC
WebsiteHdr · item Jgreyfriarsclassical.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B25)
Ruling yearIRS BMFMay 2009

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President/Director
$0Pt VII · Sec A
Secretary/ Director
$0Pt VII · Sec A
Treasurer/ Director
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

3 program services account for $458K of program spending, described in the organization's own filed words · FY2020.
01

Gca-rhetoric

$267Kprogram expense
02

Gct-grammar

$99Kprogram expense
03

Gct-logic

$91Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$517K · 83%
Contributions & grants$108K · 17%
Program service revenue83%$517K
Contributions & grants17%$108K
Investment income$150
Total revenueLn 12$626K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$479K
Total functional expensesLn 25$479K

Balance Sheet

Part X · end of year
CashLn 1$334K
Total assetsLn 16$454K
Total liabilitiesLn 26$68K
Total net assetsLn 32$387K
Months of cash on handcomputed8.4

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $454K · Operating expenses/yr $479K
11.4 months
Where the money goes
Program services
Program services $479K · Total expenses $479K
100%
Management & General
Management & general $0 · Total expenses $479K
0%
Fundraising
Fundraising $0 · Total expenses $479K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $108K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $108K · Total revenue $626K
17%
Government reliance
Government grants $0 · Total revenue $626K
0%
Earned-income share
Program service revenue $517K · Total revenue $626K
83%
Investment reliance
Investment income $150 · Total revenue $626K
+0.02%
Program self-sufficiency
Program service revenue $517K · Total expenses $479K
108%
Growth & trend
Revenue growth (YoY)
This year $626K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $387K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $626K · Expenses $479K
+23%
Liabilities-to-Assets
Total liabilities — · Total assets $454K
Net-asset ratio
Net assets $387K · Total assets $454K
85%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $120K · Total assets (Pt X, ln 16) $454K
26%
People & payroll
Highest Reported Total Compensation
Individual Nathan Trice · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $479K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $253K · Total expenses $479K
53%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Accounting fee ratio 0.6%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$373

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$961K revenue · ⤓ 990 PDF
FY2024$828K revenue · ⤓ 990 PDF
FY2023$758K revenue · ⤓ 990 PDF
FY2022$723K revenue · ⤓ 990 PDF
FY2021$626K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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