Ad Fontes Educational Trust FY2021 filing

Tax-deductible

Centreville, VA501(c)(3)Since 1995EducationEIN 54-1780628Revenue $3.2M in FY2021

On file with the IRSadfontes.com15452 Lee Hwy, 20120-2127 · Centreville, VATax-exempt since Nov 1998School — 170(b)(1)(A)(ii)

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The Ad Fontes mission is to glorify god by assisting christian parents in equipping their children to be servant leaders through a classical education based on eternal biblical truth.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$123K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
4 of 6
filings with a surplus
Average surplus $180K a year · 6% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$123K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $51K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
81% of total assets
Concern: liabilities are 81% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 10 voting members
Looks good: 9 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.2M
+29% vs prior year
Spent
$2.8M
To programs
92%
Net assets
$248K
By yearFY2020–FY2025
Revenue
$3.2M
FY2021▲ +29%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.5M
FY2021$3.2M
FY2022$3.0M
FY2023$2.9M
FY2024$3.3M
FY2025$3.1M
Expenses
$2.8M
FY2021▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.5M
FY2021$2.8M
FY2022$3.1M
FY2023$2.9M
FY2024$2.8M
FY2025$2.8M
Net assets
$248K
FY2021▲ +227%
Tap a bar for its year
Net assets by fiscal year
FY2020−$195K
FY2021$248K
FY2022$134K
FY2023$141K
FY2024$620K
FY2025$887K

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1998.

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% · $2.6M Management & general 7% · $187K Fundraising 1% · $25K

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

10 people listed on the 990; $123K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$117,345Pt VII · Sec A
Trustee
$5,500Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Past Chairman
$0Pt VII · Sec A

Josh McCroskey’s $62K as Former Head is at the 11th 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 · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Joshua McCroskey—$125,000$77,500———
Dean Luckenbaugh———$54,226$117,345$118,360
Josh McCroskey$62,500—————
Karen Dougherty$59,975—————
Beth Strachan——$46,200$6,000——
Richard Leed——$35,000———
Sam Cox——$10,000$21,700$5,500—

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 Ad Fontes Educational Trust 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 15aNo
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Funds Christian education programs and operates a Christian school.

Questions for Ad Fontes Educational Trust

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Provided by the organization

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1 program · $2.6M · in their own filed words · FY2020
01

Support christian based education programs, including operation of a k-12 school, which provided a christian based education to 217 students for the 2020/2021 school year.

$2.6Mprogram 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 · FY2024
See all 3 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$3.2M
Ln 12
Fees for servicesLn 2g$2.6M
Gifts and grantsLn 1h$626K
Investment incomeLn 3$22
Money outPt IX
$2.8M
Ln 25
Programscol B$2.6M
Managementcol C$187K
Fundraisingcol D$25K
Owns and owesPt X
$248K
net assets · Ln 32
Cash and savingsLn 1–2$360K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
10
listed · VII A
PaidVII A2
Voting boardVI 1a10
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$626K
Government grantsLn 1e$291K
Noncash giftsLn 1g$17K
Fees for servicesLn 2g$2.6M
Investment incomeLn 3$22
Total revenueLn 12$3.2M
Assets in detailPt X, end of year
CashLn 1$360K
Cash and savings togetherLn 1–2$360K
Land, buildings, equipmentLn 10c$922K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.1M
Net assetsLn 32$248K
OperationsPt I, VI
EmployeesI 554
VolunteersI 655
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$407K$360K
Land, buildings, equipmentLn 10c$981K$922K
Total assetsLn 16$1.4M$1.3M
LiabilitiesLn 26$1.6M$1.1M
Net assetsLn 32−$195K$248K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$432K$432K
Pay of current officers, directors and key staffLn 5$121K$24K$85K$12K
Other salaries and wagesLn 7$1.3M$1.2M$37K$6K
Other employee benefitsLn 9$37K$33K$3K$469
Payroll taxesLn 10$105K$95K$9K$1K
Legal feesLn 11b$15K$15K
Accounting feesLn 11c$5K$5K
Other fees for servicesLn 11g$32K$32K
Advertising and promotionLn 12$25K$25K
Office expensesLn 13$100K$99K$830
Information technologyLn 14$4K$4K
OccupancyLn 16$236K$236K
Conferences, conventions and meetingsLn 19$21K$21K
InterestLn 20$31K$31K
Depreciation, depletion and amortizationLn 22$75K$75K
InsuranceLn 23$20K$20K
Other expenses (24a–d)Ln 24$197K$197K
All other expensesLn 24e$64K$64K
Total functional expensesLn 25$2.8M$2.6M$187K$25K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.1M$2.8M$267K$887K 990 PDF
FY2024 $3.3M$2.8M$479K$620K 990 PDF
FY2023 $2.9M$2.9M$6K$141K 990 PDF
FY2022 $3.0M$3.1M−$113K$134K 990 PDF
FY2021 Viewing $3.2M$2.8M$443K$248K 990 PDF
FY2020 $2.5M$2.5M−$3K−$195K 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 $3,222,626 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $236,509$626,393
I-9 Program service revenuePrior year $2,260,346$2,596,211
I-10 Investment incomePrior year −$103$22
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,496,752$3,222,626
I-13 Grants and similar amounts paidPrior year $362,510$432,496
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,514,771$1,523,150
I-16a Professional fundraising feesPrior year $3,000$0
I-17 Other expensesPrior year $619,268$823,804
I-18 Total expensesPrior year $2,499,549$2,779,450
I-19 Revenue less expensesPrior year −$2,797$443,176
Part VI · Governance 9 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members9
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
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $3,222,626 across 7 lines filed
VIII-1e Government grants$291,000
VIII-1f All other contributions, gifts and grants$335,393
VIII-1g Noncash contributions (included above)$16,770
VIII-1h Total contributions, gifts and grants$626,393
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,596,211$2,596,211
VIII-3 Investment incomeExcluded from tax $22$22
VIII-12 Total revenueRelated to mission $2,596,211 · Unrelated business $0 · Excluded from tax $22$3,222,626
Part IX · Statement of functional expenses $2,779,450 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $432,496$432,496
IX-5 Pay of current officers, directors and key staffPrograms $24,172 · Management $84,602 · Fundraising $12,086$120,860
IX-7 Other salaries and wagesPrograms $1,216,929 · Management $37,315 · Fundraising $6,080$1,260,324
IX-9 Other employee benefitsPrograms $33,155 · Management $3,110 · Fundraising $469$36,734
IX-10 Payroll taxesPrograms $94,981 · Management $8,908 · Fundraising $1,343$105,232
IX-11b Legal feesManagement $15,073$15,073
IX-11c Accounting feesManagement $5,480$5,480
IX-11g Other fees for servicesManagement $32,370$32,370
IX-12 Advertising and promotionPrograms $24,605$24,605
IX-13 Office expensesPrograms $98,686 · Fundraising $830$99,516
IX-14 Information technologyFundraising $3,845$3,845
IX-16 OccupancyPrograms $236,267$236,267
IX-19 Conferences, conventions and meetingsPrograms $20,513$20,513
IX-20 InterestPrograms $30,645$30,645
IX-22 Depreciation, depletion and amortizationPrograms $74,989$74,989
IX-23 InsurancePrograms $20,166$20,166
IX-24 Other expenses (24a–d)Programs $196,638$196,638
IX-24e All other expensesPrograms $63,697$63,697
IX-25 Total functional expensesPrograms $2,567,939 · Management $186,858 · Fundraising $24,653$2,779,450
Part X · Balance sheet $1,304,412 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $407,057$360,319
X-3 Pledges and grants receivableStart of year $5,692$6,784
X-10c Land, buildings and equipment, netStart of year $981,080$922,377
X-14 Intangible assetsStart of year $31,218$14,932
X-16 Total assetsStart of year $1,425,047$1,304,412
X-17 Accounts payable and accrued expensesStart of year $8,025$11,752
X-24 Unsecured notes and loans payableStart of year $516,501$284,517
X-25 Other liabilitiesStart of year $550,731$636,700
X-26 Total liabilitiesStart of year $1,620,318$1,056,507
X-27 Net assets without donor restrictionsStart of year −$195,271$247,905
X-32 Total net assets or fund balancesStart of year −$195,271$247,905
X-33 Total liabilities and net assetsStart of year $1,425,047$1,304,412
Part XI · Reconciliation of net assets $247,905 net assets at year end
XI-1 Total revenue$3,222,626
XI-2 Total expenses$2,779,450
XI-3 Revenue less expenses$443,176
XI-4 Net assets at start of year−$195,271
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$247,905

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

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