Immaculata Classical Academy INC

Tax-deductible

Louisville, KY501(c)(3)EducationEIN 27-3305618Revenue $2.1M in FY2025

On file with the IRSimmaculata.org440 Zorn Ave, 40206-1417 · Louisville, KYTax-exempt since May 2012School — 170(b)(1)(A)(ii)

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501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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 5
filings with a surplus
Average surplus $172K a year · 10% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+52% vs prior year
Spent
$3.7M
To programs
92%
Net assets
$440K
By yearFY2020–FY2025
Revenue
$2.1M
FY2025▲ +52%
Tap a bar for its year
Revenue by fiscal year
FY2020$868K
FY2021$1.0M
FY2022$3.6M
FY2023$1.1M
FY2023$1.4M
FY2025$2.1M
Expenses
$3.7M
FY2025▲ +124%
Tap a bar for its year
Expenses by fiscal year
FY2020$760K
FY2021$955K
FY2022$1.2M
FY2023$1.2M
FY2023$1.7M
FY2025$3.7M
Net assets
$440K
FY2025▼ -79%
Tap a bar for its year
Net assets by fiscal year
FY2020$141K
FY2021$88K
FY2022$2.5M
FY2023$2.4M
FY2023$2.1M
FY2025$440K

From the FY2025 Form 990 (year ending May 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2012.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $3.4M Management & general 8% · $315K Fundraising 0% · $400

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 (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Justin Fout’s $74K as Director is at the 16th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2023FY2023FY2022FY2021FY2020
Justin Fout$74,087$80,513$65,354$67,500$66,979

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Immaculata Classical Academy INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides classical education to students, including those with special needs.

Provided by the organization

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1 program · $3.4M · in their own filed words · FY2024
01

Provision of education to 224 students for the year, several of whom have special needs.

$3.4Mprogram 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 · FY2025
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$2.1M
Ln 12
Gifts and grantsLn 1h$1.0M
Fees for servicesLn 2g$895K
Other incomeLn 4–11$144K
Money outPt IX
$3.7M
Ln 25
Programscol B$3.4M
Managementcol C$315K
Fundraisingcol D$400
Owns and owesPt X
$440K
net assets · Ln 32
Cash and savingsLn 1–2$440K
Total assetsLn 16$440K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Fundraising eventsLn 1c$482K
Fees for servicesLn 2g$895K
Investment incomeLn 3$6K
Other incomeLn 4–11$144K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$440K
Cash and savings togetherLn 1–2$440K
Total assetsLn 16$440K
LiabilitiesLn 26$0
Net assetsLn 32$440K
OperationsPt I, VI
EmployeesI 538
VolunteersI 60
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$2.1M$440K
Total assetsLn 16$2.1M$440K
LiabilitiesLn 26$0$0
Net assetsLn 32$2.1M$440K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.9M$1.9M
Pay of current officers, directors and key staffLn 5$79K$79K
Other salaries and wagesLn 7$1.2M$1.2M
Payroll taxesLn 10$101K$100K$1K
Legal feesLn 11b$1K$825$400
Accounting feesLn 11c$17K$5K$13K
Other fees for servicesLn 11g$10K$10K
Advertising and promotionLn 12$16K$16K
Office expensesLn 13$13K$13K
Information technologyLn 14$4K$4K
OccupancyLn 16$144K$434$144K
TravelLn 17$5K$4K$1K
Conferences, conventions and meetingsLn 19$11K$11K
InsuranceLn 23$74K$1K$73K
Other expenses (24a–d)Ln 24$98K$88K$10K
All other expensesLn 24e$22K$3K$19K
Total functional expensesLn 25$3.7M$3.4M$315K$400

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $2.1M$3.7M−$1.7M$440K 990 PDF
FY2024 Not on file
FY2023 $1.1M$1.2M−$93K$2.4M 990 PDF
FY2022 $3.6M$1.2M$2.4M$2.5M 990 PDF
FY2021 $1.0M$955K$84K$88K 990 PDF
FY2020 $868K$760K$108K$141K 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 FY2025 990 (6 parts)
Part I · Summary $2,055,586 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $397,801$1,009,853
I-9 Program service revenuePrior year $914,030$895,095
I-10 Investment incomePrior year $75,864$6,311
I-11 Other revenuePrior year −$31,545$144,327
I-12 Total revenuePrior year $1,356,150$2,055,586
I-13 Grants and similar amounts paid$1,912,175
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,325,538$1,408,763
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $345,903$415,821
I-18 Total expensesPrior year $1,671,441$3,736,759
I-19 Revenue less expensesPrior year −$315,291−$1,681,173
Part VI · Governance 0 of 7 board members independent, 5 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $2,055,586 across 10 lines filed
VIII-1c Fundraising events$482,099
VIII-1d Related organizations$180,000
VIII-1f All other contributions, gifts and grants$347,754
VIII-1h Total contributions, gifts and grants$1,009,853
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $895,095$895,095
VIII-3 Investment incomeExcluded from tax $6,311$6,311
VIII-6 Net rental income or lossRelated to mission −$18,432−$18,432
VIII-8 Net income from fundraising eventsExcluded from tax −$37,732−$37,732
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $200,491$200,491
VIII-12 Total revenueRelated to mission $1,077,154 · Unrelated business $0 · Excluded from tax −$31,421$2,055,586
Part IX · Statement of functional expenses $3,736,759 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $1,912,175$1,912,175
IX-5 Pay of current officers, directors and key staffPrograms $79,167$79,167
IX-7 Other salaries and wagesPrograms $1,228,207$1,228,207
IX-10 Payroll taxesPrograms $100,079 · Management $1,310$101,389
IX-11b Legal feesManagement $825 · Fundraising $400$1,225
IX-11c Accounting feesPrograms $4,613 · Management $12,615$17,228
IX-11g Other fees for servicesManagement $9,859$9,859
IX-12 Advertising and promotionManagement $16,426$16,426
IX-13 Office expensesManagement $12,631$12,631
IX-14 Information technologyManagement $4,337$4,337
IX-16 OccupancyPrograms $434 · Management $143,542$143,976
IX-17 TravelPrograms $4,134 · Management $1,177$5,311
IX-19 Conferences, conventions and meetingsManagement $11,141$11,141
IX-23 InsurancePrograms $1,060 · Management $72,671$73,731
IX-24 Other expenses (24a–d)Programs $88,058 · Management $9,746$97,804
IX-24e All other expensesPrograms $3,290 · Management $18,862$22,152
IX-25 Total functional expensesPrograms $3,421,217 · Management $315,142 · Fundraising $400$3,736,759
Part X · Balance sheet $440,061 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $2,121,234$440,061
X-16 Total assetsStart of year $2,121,234$440,061
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $2,118,166$436,993
X-28 Net assets with donor restrictionsStart of year $3,068$3,068
X-32 Total net assets or fund balancesStart of year $2,121,234$440,061
X-33 Total liabilities and net assetsStart of year $2,121,234$440,061
Part XI · Reconciliation of net assets $440,061 net assets at year end
XI-1 Total revenue$2,055,586
XI-2 Total expenses$3,736,759
XI-3 Revenue less expenses−$1,681,173
XI-4 Net assets at start of year$2,121,234
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$440,061

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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