Trace Academy INC FY2022 filing

Tax-deductible

Orlando, FL501(c)(3)EducationEIN 59-3398298Revenue $194K in FY2022

On file with the IRStraceacademy.com4200 S Chickasaw Trl, 32829-8750 · Orlando, FLTax-exempt since Jan 1998School — 170(b)(1)(A)(ii)

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To educate our children by guiding them to explore god's world and discover their place in IT and develop their character, intellect and imagination.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$59K 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

FY2022 · 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
1 of 5
filings with a surplus
Average deficit $13K a year · 6% of revenue · last 5 filings
Concern: a surplus in 1 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
Pay to officers and key staff
$59K
to officers and key staff · 29% of spending
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 12.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $307
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1K
0.5% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$194K
+4% vs prior year
Spent
$201K
To programs
92%
Net assets
$206K
By yearFY2021–FY2025
Revenue
$194K
FY2022▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2021$186K
FY2022$194K
FY2023$198K
FY2024$213K
FY2025$301K
Expenses
$201K
FY2022▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2021$195K
FY2022$201K
FY2023$246K
FY2024$243K
FY2025$274K
Net assets
$206K
FY2022▼ -6%
Tap a bar for its year
Net assets by fiscal year
FY2021$220K
FY2022$206K
FY2023$159K
FY2024$129K
FY2025$156K

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 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 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% · $185K Management & general 8% · $16K

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

13 people listed on the 990; $59K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Head of School
$58,645Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Shari Hepner’s $63K as Head of School is at the 55th percentile of top reported officer pay among 1613 $100K–1M 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

NameFY2025FY2024FY2023FY2022FY2021
Shari Hepner$62,656$61,128$58,417$58,645$52,259

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.

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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

Guides children to explore God's world, discover their place, and develop character, intellect, and imagination.

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Provided by the organization

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1 program · $185K · in their own filed words · FY2021
01

Private christian school for approximately 90 students in grades kindergarten through 8TH grade

$185Kprogram 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
Total grants receivedfrom 1 funder$307

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$194K
Ln 12
Fees for servicesLn 2g$193K
Gifts and grantsLn 1h$808
Investment incomeLn 3$4
Money outPt IX
$201K
Ln 25
Programscol B$185K
Managementcol C$16K
Owns and owesPt X
$206K
net assets · Ln 32
Cash and savingsLn 1–2$207K
Total assetsLn 16$207K
LiabilitiesLn 26$1K
PeoplePt VI, VII
13
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$808
Fees for servicesLn 2g$193K
Investment incomeLn 3$4
Total revenueLn 12$194K
Assets in detailPt X, end of year
CashLn 1$207K
Cash and savings togetherLn 1–2$207K
Total assetsLn 16$207K
LiabilitiesLn 26$1K
Net assetsLn 32$206K
OperationsPt I, VI
EmployeesI 53
VolunteersI 645
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$221K$207K
Total assetsLn 16$221K$207K
LiabilitiesLn 26$1K$1K
Net assetsLn 32$220K$206K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$59K$59K
Payroll taxesLn 10$4K$4K
Accounting feesLn 11c$400$400
Office expensesLn 13$8K$8K
Information technologyLn 14$2K$2K
OccupancyLn 16$71K$66K$5K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$44K$44K
Total functional expensesLn 25$201K$185K$16K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $301K$274K$27K$156K 990 PDF
FY2024 $213K$243K−$29K$129K 990 PDF
FY2023 $198K$246K−$48K$159K 990 PDF
FY2022 Viewing $194K$201K−$7K$206K 990 PDF
FY2021 $186K$195K−$9K$220K 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 FY2022 990 (6 parts)
Part I · Summary $194,025 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $530$808
I-9 Program service revenuePrior year $182,845$193,213
I-10 Investment incomePrior year $2,650$4
I-11 Other revenue$0
I-12 Total revenuePrior year $186,025$194,025
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $57,609$63,116
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $137,168$138,292
I-18 Total expensesPrior year $194,777$201,408
I-19 Revenue less expensesPrior year −$8,752−$7,383
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $194,025 across 6 lines filed
VIII-1f All other contributions, gifts and grants$808
VIII-1h Total contributions, gifts and grants$808
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $193,213$193,213
VIII-3 Investment incomeRelated to mission $4$4
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $193,217$194,025
Part IX · Statement of functional expenses $201,408 across 8 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $58,645$58,645
IX-10 Payroll taxesPrograms $4,471$4,471
IX-11c Accounting feesManagement $400$400
IX-13 Office expensesManagement $7,726$7,726
IX-14 Information technologyManagement $2,474$2,474
IX-16 OccupancyPrograms $66,000 · Management $5,369$71,369
IX-23 InsurancePrograms $11,900$11,900
IX-24 Other expenses (24a–d)Programs $44,423$44,423
IX-25 Total functional expensesPrograms $185,439 · Management $15,969 · Fundraising $0$201,408
Part X · Balance sheet $207,415 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $221,318$207,415
X-16 Total assetsStart of year $221,318$207,415
X-25 Other liabilitiesStart of year $1,035$1,110
X-26 Total liabilitiesStart of year $1,035$1,110
X-32 Total net assets or fund balancesStart of year $220,283$206,305
X-33 Total liabilities and net assetsStart of year $221,318$207,415
Part XI · Reconciliation of net assets $206,305 net assets at year end
XI-1 Total revenue$194,025
XI-2 Total expenses$201,408
XI-3 Revenue less expenses−$7,383
XI-4 Net assets at start of year$220,283
XI-10 Net assets at end of year$206,305

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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