Trinity Academy INC FY2024 filing

Claim this org

(tell your story, add context, and more) Claim it free, then get the verified mark for $2,500 a year, plus $10 a year for the ID check.

How does your 990 look to donors? Take the 10-Question Audit

The mission of Trinity Academy of raleigh is to equip students to live with wisdom, excellence, and purpose in the modern world by offering an education grounded in the Christian faith and the classical tradition.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 56-1913131) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$181K 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

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $2.5M a year · 22% of revenue · last 6 filings
A surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
73%
of spending
73% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$181K
to officers and key staff · 2% of spending
Pay to officers and key staff is 2% of spending.
Part VII, Section A
3.1 mo
of spending, in cash
Plus $7.1M in investments, Pt X · Ln 11–13
3.1 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $646K
6 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$15.2M
53% of total assets
Liabilities are 53% of assets.
Pt X · Ln 26
Independent board members
7
of 11 voting members
7 of 11 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$11.7M
+19% vs prior year
Spent
$11.0M
To programs
73%
Net assets
$13.6M
By yearFY2020–FY2025
Revenue
$11.7M
FY2024▲ +19%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.2M
FY2021$10.4M
FY2022$11.9M
FY2023$9.8M
FY2024$11.7M
FY2025$16.5M
Expenses
$11.0M
FY2024▲ +26%
Tap a bar for its year
Expenses by fiscal year
FY2020$6.2M
FY2021$6.9M
FY2022$7.9M
FY2023$8.7M
FY2024$11.0M
FY2025$11.9M
Net assets
$13.6M
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.1M
FY2021$7.6M
FY2022$11.7M
FY2023$12.9M
FY2024$13.6M
FY2025$18.3M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

You’re viewing the FY2024 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 Jan 1996.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $8.1M Management & general 22% · $2.4M Fundraising 5% · $538K

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

Something off? Claim to add context

Who runs it and what they're paid

12 people listed on the 990; $181K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
Head of School
$179,058Pt VII · Sec A
Board Member
$1,500Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Dr Timothy Bridges’s $197K as Head of School is at the 35th percentile of top reported officer pay among 3683 $10–100M 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 · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dr Timothy Bridges$196,722$179,058$139,519$125,896$116,659$112,577
Tom Kilpatrick——$2,900$2,800$1,313$1,500
Kim Reynolds—————$2,550
Kyle Tucker$1,750$1,500————
Veronica Greear————$1,360$225

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 Trinity Academy INC executive salaries →

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 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Educates students in faith and classical tradition for wise, excellent, purposeful lives.

Questions for Trinity Academy INC

Tap to ask. Trinity Academy INC sees how many people are interested.

Your first name shows with your question. Trinity Academy INC answers here, for everyone.

1 program · $8.1M · in their own filed words · FY2023
01

Provided academic and Christian education to equip students with the ability to live with wisdom, excellence and purpose for grades tk-12.

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 56-1913131) · Dispute this line
$8.1Mprogram 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 · FY2024
See all 6 funders →
Grants paid · 6 grants · $6.8M · 2019–2024
Unitemized GrantFY2024$1,318,445
Unitemized GrantFY2023$1,179,873
Unitemized GrantFY2022$1,155,780
Unitemized GrantFY2021$1,117,822
Unitemized GrantFY2020$1,016,308
Unitemized GrantFY2019$982,358

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$11.7M
Ln 12
Fees for servicesLn 2g$9.6M
Gifts and grantsLn 1h$1.8M
Investment incomeLn 3$319K
Money outPt IX
$11.0M
Ln 25
Programscol B$8.1M
Managementcol C$2.4M
Fundraisingcol D$538K
Owns and owesPt X
$13.6M
net assets · Ln 32
Cash and savingsLn 1–2$2.8M
Total assetsLn 16$28.8M
LiabilitiesLn 26$15.2M
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
Voting boardVI 1a11
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.8M
Noncash giftsLn 1g$148K
Fundraising eventsLn 1c$377K
Fees for servicesLn 2g$9.6M
Investment incomeLn 3$319K
Gains on assetsLn 7−$2K
Total revenueLn 12$11.7M
Assets in detailPt X, end of year
CashLn 1$234K
SavingsLn 2$2.6M
Cash and savings togetherLn 1–2$2.8M
Pledges and grants receivableLn 3$318K
Accounts receivableLn 4$183K
Loans to officers and key peopleLn 5$30K
Prepaid expenses and deferred chargesLn 9$66K
Land, buildings, equipmentLn 10c$18.2M
InvestmentsLn 11–13$7.1M
Total assetsLn 16$28.8M
LiabilitiesLn 26$15.2M
Net assetsLn 32$13.6M
OperationsPt I, VI
EmployeesI 5154
VolunteersI 6236
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$148K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$5.2M$2.8M
InvestmentsLn 11–13$4.8M$7.1M
Land, buildings, equipmentLn 10c$8.6M$18.2M
Total assetsLn 16$27.4M$28.8M
LiabilitiesLn 26$14.5M$15.2M
Net assetsLn 32$12.9M$13.6M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1.2M$1.2M
Pay of officers and key staff (Part IX, line 5)Ln 5$226K$146K$70K$9K
Other salaries and wagesLn 7$5.4M$3.5M$1.7M$225K
Pension plan contributionsLn 8$191K$124K$59K$8K
Other employee benefitsLn 9$432K$280K$133K$18K
Payroll taxesLn 10$415K$269K$128K$17K
Legal feesLn 11b$76K$76K
Accounting feesLn 11c$22K$22K
Investment management feesLn 11f$7K$7K
Advertising and promotionLn 12$260K$260K
Office expensesLn 13$95K$83K$12K
Information technologyLn 14$42K$37K$5K
OccupancyLn 16$603K$527K$76K
InterestLn 20$349K$305K$44K
Depreciation, depletion and amortizationLn 22$694K$607K$88K
InsuranceLn 23$106K$106K
Other expenses (24a–d)Ln 24$882K$882K
All other expensesLn 24e$48K$48K
Total functional expensesLn 25$11.0M$8.1M$2.4M$538K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jan 30, 2026 $16.5M$11.9M$4.6M$18.3M 990 PDF
FY2024 ViewingFiled with the IRS Feb 17, 2025 $11.7M$11.0M$711K$13.6M 990 PDF
FY2023Filed with the IRS Feb 6, 2024 $9.8M$8.7M$1.1M$12.9M 990 PDF
FY2022Filed with the IRS Feb 7, 2023 $11.9M$7.9M$4.0M$11.7M 990 PDF
FY2021Filed with the IRS Feb 9, 2022 $10.4M$6.9M$3.5M$7.6M 990 PDF
FY2020Filed with the IRS Apr 21, 2021 $7.2M$6.2M$990K$4.1M 990 PDF

Schedules filed Part IV

A · Public support I · Grants J · Pay M · Noncash O · Explanations
See the full FY2024 990
Part I · Summary $11,702,264 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,313,267$1,772,300
I-9 Program service revenuePrior year $8,436,915$9,643,654
I-10 Investment incomePrior year $90,246$316,584
I-11 Other revenuePrior year $624−$30,274
I-12 Total revenuePrior year $9,841,052$11,702,264
I-13 Grants and similar amounts paidPrior year $1,155,780$1,179,873
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $5,616,608$6,625,446
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,951,391$3,186,324
I-18 Total expensesPrior year $8,723,779$10,991,643
I-19 Revenue less expensesPrior year $1,117,273$710,621
Part VI · Governance 7 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members7
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $11,702,264 across 11 lines filed
VIII-1c Fundraising events$377,071
VIII-1f All other contributions, gifts and grants$1,395,229
VIII-1g Noncash contributions (included above)$147,707
VIII-1h Total contributions, gifts and grants$1,772,300
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,643,654$9,643,654
VIII-3 Investment incomeExcluded from tax $318,557$318,557
VIII-6 Net rental income or lossExcluded from tax $27,240$27,240
VIII-7 Net gain or loss on sales of assetsRelated to mission −$1,973−$1,973
VIII-8 Net income from fundraising eventsExcluded from tax −$72,076−$72,076
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $14,562$14,562
VIII-12 Total revenueRelated to mission $9,656,243 · Unrelated business $0 · Excluded from tax $273,721$11,702,264
Part IX · Statement of functional expenses $10,991,643 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $1,179,873$1,179,873
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $146,490 · Management $69,721 · Fundraising $9,473$225,684
IX-7 Other salaries and wagesPrograms $3,480,444 · Management $1,656,495 · Fundraising $225,061$5,362,000
IX-8 Pension plan contributionsPrograms $124,097 · Management $59,063 · Fundraising $8,025$191,185
IX-9 Other employee benefitsPrograms $280,177 · Management $133,349 · Fundraising $18,118$431,644
IX-10 Payroll taxesPrograms $269,331 · Management $128,186 · Fundraising $17,416$414,933
IX-11b Legal feesManagement $76,270$76,270
IX-11c Accounting feesManagement $22,030$22,030
IX-11f Investment management feesManagement $7,381$7,381
IX-12 Advertising and promotionFundraising $260,042$260,042
IX-13 Office expensesPrograms $82,819 · Management $11,944$94,763
IX-14 Information technologyPrograms $36,924 · Management $5,325$42,249
IX-16 OccupancyPrograms $527,160 · Management $76,027$603,187
IX-20 InterestPrograms $305,248 · Management $44,023$349,271
IX-22 Depreciation, depletion and amortizationPrograms $606,959 · Management $87,535$694,494
IX-23 InsurancePrograms $106,054$106,054
IX-24 Other expenses (24a–d)Programs $882,121$882,121
IX-24e All other expensesPrograms $48,462$48,462
IX-25 Total functional expensesPrograms $8,076,159 · Management $2,377,349 · Fundraising $538,135$10,991,643
Part X · Balance sheet $28,766,117 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $368,344$233,885
X-2 Savings and temporary cash investmentsStart of year $4,805,598$2,580,228
X-3 Pledges and grants receivableStart of year $761,168$318,402
X-4 Accounts receivableStart of year $230,290$182,679
X-5 Loans to officers and key peopleStart of year $40,000$30,000
X-9 Prepaid expenses and deferred chargesStart of year $16,273$65,570
X-10c Land, buildings and equipment, netStart of year $8,572,215$18,245,604
X-11 Publicly traded securitiesStart of year $4,827,649$7,109,749
X-15 Other assetsStart of year $7,758,777$0
X-16 Total assetsStart of year $27,380,314$28,766,117
X-17 Accounts payable and accrued expensesStart of year $960,301$203,298
X-19 Deferred revenueStart of year $5,825,370$5,873,766
X-23 Secured mortgages and notes payableStart of year $7,643,420$9,026,080
X-25 Other liabilitiesStart of year $85,029$70,470
X-26 Total liabilitiesStart of year $14,514,120$15,173,614
X-27 Net assets without donor restrictionsStart of year $10,461,628$12,897,980
X-28 Net assets with donor restrictionsStart of year $2,404,566$694,523
X-32 Total net assets or fund balancesStart of year $12,866,194$13,592,503
X-33 Total liabilities and net assetsStart of year $27,380,314$28,766,117
Part XI · Reconciliation of net assets $13,592,503 net assets at year end
XI-1 Total revenue$11,702,264
XI-2 Total expenses$10,991,643
XI-3 Revenue less expenses$710,621
XI-4 Net assets at start of year$12,866,194
XI-5 Net unrealized gains (losses) on investments$15,688
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$13,592,503

Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

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

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. A filing can only be corrected by the organization filing an amended return with the IRS; the corrected information appears here at our next update.

We publish only information contained in the public IRS filing, and less than the filing contains. Our pages do not display home 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, contact the filing organization or the IRS directly.

All figures come from public IRS Form 990 filings. Comparisons are computed from the filing against similar orgs. They are not a rating.

Featured nonprofit jobs

All nonprofit jobs → · Hiring? Post a job →