philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Grace Classical Christian Academy

Tax-deductible

Granbury, TX501(c)(3)EducationEIN 45-2949553Revenue $3.0M in FY2025

On file with the IRSgraceclassical.comPo Box 41, 76048-0015 · Granbury, TXTax-exempt since Jun 2012School — 170(b)(1)(A)(ii)

This page gets seen. Tell your story. Claim this org.

The operation of a school to educate children from pre-kindergarten through high school with an emphasis on an historic Christian worldview and related vigorous Classical curriculum. During the 2019 - 2020 school year we had students enrolled in grades pre - kindergarten through tenth grade.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 50 volunteers and 18 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
6 of 6
filings with a surplus
Average surplus $549K a year · 40% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$119K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.0M
+98% vs prior year
Spent
$896K
To programs
100%
Net assets
$3.6M
By yearFY2020–FY2025
Revenue
$3.0M
FY2025▲ +98%
Tap a bar for its year
Revenue by fiscal year
FY2020$661K
FY2021$675K
FY2022$912K
FY2023$1.5M
FY2024$1.5M
FY2025$3.0M
Expenses
$896K
FY2025▼ -22%
Tap a bar for its year
Expenses by fiscal year
FY2020$577K
FY2021$486K
FY2022$878K
FY2023$936K
FY2024$1.1M
FY2025$896K
Net assets
$3.6M
FY2025▲ +174%
Tap a bar for its year
Net assets by fiscal year
FY2020$185K
FY2021$374K
FY2022$408K
FY2023$934K
FY2024$1.3M
FY2025$3.6M

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

Give Claim

Is it real?

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

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $894K Management & general 0% · $3K

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

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Brett Cain
President
$0Pt VII · Sec A
Lucas Folegatti
Secretary&tr
$0Pt VII · Sec A
Ike Thomas
Board Member
$0Pt VII · Sec A
Ryan Thomas
Board Member
$0Pt VII · Sec A
See Grace Classical Christian Academy executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

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

Educates children pre-K through high school with a Christian worldview and classical curriculum.

Questions for Grace Classical Christian Academy

Tap to ask. Grace Classical Christian Academy sees how many people are interested.

Your first name shows with your question. Grace Classical Christian Academy answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $894K · in their own filed words · FY2024
01

The operation of a school to educate children from pre-kindergarten through high school with an emphasis on an historic christian worldview and related vigorous classical curriculum. During the current school year we had students enrolled in grades pre - kindergarten through twelfth grade.

$894Kprogram 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
Natl Christian Charitable Fdn INCFY2023$15K
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.0M
Ln 12
Gifts and grantsLn 1h$2.3M
Fees for servicesLn 2g$655K
Investment incomeLn 3$26K
Money outPt IX
$896K
Ln 25
Programscol B$894K
Managementcol C$3K
Owns and owesPt X
$3.6M
net assets · Ln 32
Cash and savingsLn 1–2$704K
Total assetsLn 16$3.7M
LiabilitiesLn 26$119K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.3M
Noncash giftsLn 1g$2.0M
Fees for servicesLn 2g$655K
Investment incomeLn 3$26K
Other incomeLn 4–11$8K
Gains on assetsLn 7−$68K
Total revenueLn 12$3.0M
Assets in detailPt X, end of year
CashLn 1$35K
SavingsLn 2$669K
Cash and savings togetherLn 1–2$704K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$86K
Total assetsLn 16$3.7M
LiabilitiesLn 26$119K
Net assetsLn 32$3.6M
OperationsPt I, VI
EmployeesI 518
VolunteersI 650
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
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$243K$704K
InvestmentsLn 11–13$12K$1.1M
Land, buildings, equipmentLn 10c$1.0M$1.7M
Total assetsLn 16$1.4M$3.7M
LiabilitiesLn 26$140K$119K
Net assetsLn 32$1.3M$3.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$661K$661K
Other employee benefitsLn 9$30K$30K
Payroll taxesLn 10$61K$61K
Accounting feesLn 11c$6K$3K$3K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$8K$8K
Information technologyLn 14$240$240
OccupancyLn 16$50K$50K
InterestLn 20$340$340
Depreciation, depletion and amortizationLn 22$788$788
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$64K$64K
Total functional expensesLn 25$896K$894K$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $3.0M$896K$2.1M$3.6M 990 PDF
FY2024 $1.5M$1.1M$361K$1.3M 990 PDF
FY2023 $1.5M$936K$526K$934K 990 PDF
FY2022 $912K$878K$34K$408K 990 PDF
FY2021 $675K$486K$189K$374K 990 PDF
FY2020 $661K$577K$84K$185K 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 $2,997,525 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $815,880$2,335,275
I-9 Program service revenuePrior year $639,923$654,557
I-10 Investment incomePrior year $8,790−$42,866
I-11 Other revenuePrior year $45,853$50,559
I-12 Total revenuePrior year $1,510,446$2,997,525
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $981,657$752,207
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $167,539$143,962
I-18 Total expensesPrior year $1,149,196$896,169
I-19 Revenue less expensesPrior year $361,250$2,101,356
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $2,997,525 across 8 lines filed
Lines not itemized here account for $50,485 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$2,335,275
VIII-1g Noncash contributions (included above)$2,003,775
VIII-1h Total contributions, gifts and grants$2,335,275
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $654,557$654,557
VIII-3 Investment incomeRelated to mission $25,448 · Excluded from tax $91$25,539
VIII-7 Net gain or loss on sales of assetsRelated to mission −$68,405−$68,405
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $74$74
VIII-12 Total revenueRelated to mission $662,085 · Unrelated business $74 · Excluded from tax $91$2,997,525
Part IX · Statement of functional expenses $896,169 across 13 lines filed
IX-7 Other salaries and wagesPrograms $661,005$661,005
IX-9 Other employee benefitsPrograms $29,867$29,867
IX-10 Payroll taxesPrograms $61,335$61,335
IX-11c Accounting feesPrograms $2,977 · Management $2,601$5,578
IX-11g Other fees for servicesPrograms $5,599$5,599
IX-12 Advertising and promotionPrograms $4,293$4,293
IX-13 Office expensesPrograms $8,228$8,228
IX-14 Information technologyPrograms $240$240
IX-16 OccupancyPrograms $50,263$50,263
IX-20 InterestPrograms $340$340
IX-22 Depreciation, depletion and amortizationPrograms $788$788
IX-23 InsurancePrograms $4,635$4,635
IX-24 Other expenses (24a–d)Programs $63,998$63,998
IX-25 Total functional expensesPrograms $893,568 · Management $2,601 · Fundraising $0$896,169
Part X · Balance sheet $3,678,145 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $84,807$34,677
X-2 Savings and temporary cash investmentsStart of year $157,832$668,966
X-4 Accounts receivableStart of year $51,260$29,739
X-9 Prepaid expenses and deferred chargesStart of year $9,405$3,825
X-10c Land, buildings and equipment, netStart of year $1,039,170$1,743,268
X-11 Publicly traded securities$1,100,375
X-12 Other securitiesStart of year $11,571$11,736
X-15 Other assetsStart of year $83,048$85,559
X-16 Total assetsStart of year $1,437,093$3,678,145
X-17 Accounts payable and accrued expensesStart of year $113,392$73,763
X-19 Deferred revenueStart of year $20,605$38,911
X-25 Other liabilitiesStart of year $5,873$6,777
X-26 Total liabilitiesStart of year $139,870$119,451
X-27 Net assets without donor restrictionsStart of year $1,297,223$3,558,694
X-32 Total net assets or fund balancesStart of year $1,297,223$3,558,694
X-33 Total liabilities and net assetsStart of year $1,437,093$3,678,145
Part XI · Reconciliation of net assets $3,558,694 net assets at year end
XI-1 Total revenue$2,997,525
XI-2 Total expenses$896,169
XI-3 Revenue less expenses$2,101,356
XI-4 Net assets at start of year$1,297,223
XI-5 Net unrealized gains (losses) on investments$160,115
XI-10 Net assets at end of year$3,558,694

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.