Grace Academy INC: FY2021 Nonprofit Profile & Form 990 (EIN 52-1096867)

Revenue by fiscal year
FY2021	$2.7M
FY2022	$3.3M
FY2023	$3.9M
FY2024	$4.1M
FY2025	$4.4M

Expenses by fiscal year
FY2021	$2.2M
FY2022	$3.0M
FY2023	$3.8M
FY2024	$4.1M
FY2025	$4.3M

Net assets by fiscal year
FY2021	$901K
FY2022	$1.2M
FY2023	$1.3M
FY2024	$1.3M
FY2025	$1.5M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1979.

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

Where the money goes

72 cents of each dollar spent went to programs.

72%

28%

Program services 72% · $1.6M Management & general 28% · $624K

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

Jesse Ballard

Treasurer

$0Pt VII · Sec A

Dave Libby

Chairman

$0Pt VII · Sec A

Eddie Sweeney

Director

$0Pt VII · Sec A

Caleb Hill

Director

$0Pt VII · Sec A

Johathan Hibbert

Director

$0Pt VII · Sec A

Darren Sweeney

Director

$0Pt VII · Sec A

Beverly Stitely

Director

$0Pt VII · Sec A

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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 15aNo

Programs and updates

Educates students from kindergarten through high school in a private Christian setting.

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Provided by the organization

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1 program · $1.6M · in their own filed words · FY2020

01

The school provided a well-round, christian-grounded education to students of the washington county, maryland area. The school is formally accredited by independent agencies and fully recognized by the state of maryland.

$1.6Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid

Grants received · FY2025

Folds of Honor FoundationFY2025$6K

Total grants receivedfrom 1 funder$6K

Grants paid · 5 grants · $587K · 2020–2024

Unitemized GrantFY2024$128,977

Unitemized GrantFY2023$166,447

Unitemized GrantFY2022$117,716

Unitemized GrantFY2021$87,286

Unitemized GrantFY2020$86,553

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$2.7M

Ln 12

Fees for servicesLn 2g$2.2M

Gifts and grantsLn 1h$423K

Other incomeLn 4–11$88K

Money outPt IX

$2.2M

Ln 25

Programscol B$1.6M

Managementcol C$624K

Owns and owesPt X

$901K

net assets · Ln 32

Cash and savingsLn 1–2$411K

Total assetsLn 16$2.3M

LiabilitiesLn 26$1.4M

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$423K

Government grantsLn 1e$347K

Fees for servicesLn 2g$2.2M

Investment incomeLn 3$1K

Other incomeLn 4–11$88K

Gains on assetsLn 7$1K

Total revenueLn 12$2.7M

Assets in detailPt X, end of year

CashLn 1$411K

Cash and savings togetherLn 1–2$411K

Land, buildings, equipmentLn 10c$1.8M

Other assetsLn 15$0

Total assetsLn 16$2.3M

LiabilitiesLn 26$1.4M

Net assetsLn 32$901K

OperationsPt I, VI

EmployeesI 579

VolunteersI 66

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$62K	$411K
Land, buildings, equipmentLn 10c	$1.9M	$1.8M
Total assetsLn 16	$2.1M	$2.3M
LiabilitiesLn 26	$1.6M	$1.4M
Net assetsLn 32	$428K	$901K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$177K	$177K
Other salaries and wagesLn 7	$1.1M	$676K	$451K
Other employee benefitsLn 9	$25K	$15K	$9K
Payroll taxesLn 10	$104K	$62K	$42K
Accounting feesLn 11c	$8K	$7K	$2K
Other fees for servicesLn 11g	$27K	$22K	$5K
Advertising and promotionLn 12	$8K	$8K
Office expensesLn 13	$16K	$8K	$8K
OccupancyLn 16	$103K	$73K	$31K
TravelLn 17	$311	$311
InterestLn 20	$110K	$110K
Depreciation, depletion and amortizationLn 22	$150K	$120K	$30K
InsuranceLn 23	$232K	$198K	$34K
Other expenses (24a–d)Ln 24	$137K	$137K
All other expensesLn 24e	$24K	$12K	$12K
Total functional expensesLn 25	$2.2M	$1.6M	$624K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$4.4M	$4.3M	$164K	$1.5M	990 PDF
FY2024	$4.1M	$4.1M	$35K	$1.3M	990 PDF
FY2023	$3.9M	$3.8M	$113K	$1.3M	990 PDF
FY2022	$3.3M	$3.0M	$289K	$1.2M	990 PDF
FY2021 Viewing	$2.7M	$2.2M	$473K	$901K	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 $2,722,329 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $134,269$423,422

I-9 Program service revenuePrior year $2,502,630$2,209,595

I-10 Investment incomePrior year −$123$1,430

I-11 Other revenuePrior year $37,766$87,882

I-12 Total revenuePrior year $2,674,542$2,722,329

I-13 Grants and similar amounts paidPrior year $231,003$176,775

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $1,437,466$1,255,499

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $893,387$816,986

I-18 Total expensesPrior year $2,561,856$2,249,260

I-19 Revenue less expensesPrior year $112,686$473,069

Part VI · Governance 7 of 7 board members independent, 2 to look at

VI-1a Voting members of the governing body7

VI-1b Independent voting members7

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

Part VIII · Statement of revenue $2,722,329 across 10 lines filed

Lines not itemized here account for −$677 of total revenue; see the IRS return.

VIII-1e Government grants$346,747

VIII-1f All other contributions, gifts and grants$76,675

VIII-1h Total contributions, gifts and grants$423,422

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,209,595$2,209,595

VIII-3 Investment incomeExcluded from tax $55$55

VIII-6 Net rental income or lossRelated to mission $13,030$13,030

VIII-7 Net gain or loss on sales of assetsRelated to mission $1,375$1,375

VIII-8 Net income from fundraising eventsExcluded from tax $37,221$37,221

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $38,308$38,308

VIII-12 Total revenueRelated to mission $2,261,631 · Unrelated business $0 · Excluded from tax $37,276$2,722,329

Part IX · Statement of functional expenses $2,249,260 across 15 lines filed

IX-2 Grants to domestic individualsPrograms $176,775$176,775

IX-7 Other salaries and wagesPrograms $675,983 · Management $450,655$1,126,638

IX-9 Other employee benefitsPrograms $15,338 · Management $9,389$24,727

IX-10 Payroll taxesPrograms $62,480 · Management $41,654$104,134

IX-11c Accounting feesPrograms $6,590 · Management $1,647$8,237

IX-11g Other fees for servicesPrograms $21,991 · Management $5,498$27,489

IX-12 Advertising and promotionPrograms $8,135$8,135

IX-13 Office expensesPrograms $8,227 · Management $8,227$16,454

IX-16 OccupancyPrograms $72,707 · Management $30,657$103,364

IX-17 TravelPrograms $311$311

IX-20 InterestPrograms $109,736$109,736

IX-22 Depreciation, depletion and amortizationPrograms $120,360 · Management $30,090$150,450

IX-23 InsurancePrograms $198,027 · Management $33,761$231,788

IX-24 Other expenses (24a–d)Programs $137,084$137,084

IX-24e All other expensesPrograms $11,981 · Management $11,957$23,938

IX-25 Total functional expensesPrograms $1,625,725 · Management $623,535 · Fundraising $0$2,249,260

Part X · Balance sheet $2,253,058 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $62,282$410,618

X-4 Accounts receivableStart of year $9,225$5,590

X-8 Inventories for sale or useStart of year $9,483$3,604

X-9 Prepaid expenses and deferred chargesStart of year $40,629$33,595

X-10c Land, buildings and equipment, netStart of year $1,893,192$1,799,651

X-15 Other assetsStart of year $42,352$0

X-16 Total assetsStart of year $2,057,163$2,253,058

X-17 Accounts payable and accrued expensesStart of year $30,075$60,671

X-19 Deferred revenueStart of year $73,173$131,155

X-26 Total liabilitiesStart of year $1,628,999$1,351,825

X-27 Net assets without donor restrictionsStart of year $428,164$901,233

X-32 Total net assets or fund balancesStart of year $428,164$901,233

X-33 Total liabilities and net assetsStart of year $2,057,163$2,253,058

Part XI · Reconciliation of net assets $901,233 net assets at year end

XI-1 Total revenue$2,722,329

XI-2 Total expenses$2,249,260

XI-3 Revenue less expenses$473,069

XI-4 Net assets at start of year$428,164

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$901,233

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

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Grace Academy INC FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Grace Academy INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV