Ascension Academy FY2021 filing

Tax-deductible

Amarillo, TX501(c)(3)EducationEIN 75-2564283Revenue $2.4M in FY2021

On file with the IRSascensionacademy.orgPo Box 50729, 79159-0729 · Amarillo, TXTax-exempt since Apr 1996Publicly supported charity — 170(b)(1)(A)(vi)

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To provide an exemplary college preparatory education in a challenging, faith-affirming environment to maximize the potential of every student.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$66K 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
1 of 6
filings with a surplus
Average deficit $284K a year · 13% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$66K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.9M
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
+8% vs prior year
Spent
$2.5M
To programs
82%
Net assets
$6.9M
By yearFY2020–FY2025
Revenue
$2.4M
FY2021▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$2.4M
FY2022$3.3M
FY2023$1.9M
FY2024$1.6M
FY2025$1.9M
Expenses
$2.5M
FY2021▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.5M
FY2021$2.5M
FY2022$2.4M
FY2023$2.5M
FY2024$2.6M
FY2025$2.6M
Net assets
$6.9M
FY2021▼ -0.5%
Tap a bar for its year
Net assets by fiscal year
FY2020$7.0M
FY2021$6.9M
FY2022$7.5M
FY2023$7.0M
FY2024$6.1M
FY2025$5.4M

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 Apr 1996.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $2.0M Management & general 14% · $347K Fundraising 5% · $116K

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

15 people listed on the 990; $66K 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
Head of Scho
$66,496Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chairma
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Tim Oditt’s $159K as Head of Scho is at the 69th 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 · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Tim Oditt$159,300$158,308$138,193$139,574$66,496—
Dr William Summerhill—————$112,677

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 15aYes

Programs and updates

Offers challenging, faith-affirming college prep education to maximize student potential.

Provided by the organization

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1 program · $2.0M · in their own filed words · FY2020
01

To provide a secondary school education with a faith-affirming environment. The school had approximately 172 students in middle school and high school.

$2.0Mprogram 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
Total grants receivedfrom 1 funder$8K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$2.4M
Ln 12
Fees for servicesLn 2g$1.4M
Gifts and grantsLn 1h$851K
Other incomeLn 4–11$79K
Money outPt IX
$2.5M
Ln 25
Programscol B$2.0M
Managementcol C$347K
Fundraisingcol D$116K
Owns and owesPt X
$6.9M
net assets · Ln 32
Cash and savingsLn 1–2$262K
Total assetsLn 16$8.9M
LiabilitiesLn 26$1.9M
PeoplePt VI, VII
15
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$851K
Government grantsLn 1e$349K
Noncash giftsLn 1g$43K
Fees for servicesLn 2g$1.4M
Investment incomeLn 3$22K
Other incomeLn 4–11$79K
Gains on assetsLn 7$12K
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$262K
Cash and savings togetherLn 1–2$262K
InvestmentsLn 11–13$425K
Land, buildings, equipmentLn 10c$8.1M
Total assetsLn 16$8.9M
LiabilitiesLn 26$1.9M
Net assetsLn 32$6.9M
OperationsPt I, VI
EmployeesI 556
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
LineStart FY21End FY21
Cash and savingsLn 1–2$307K$262K
InvestmentsLn 11–13$355K$425K
Land, buildings, equipmentLn 10c$8.4M$8.1M
Total assetsLn 16$9.1M$8.9M
LiabilitiesLn 26$2.1M$1.9M
Net assetsLn 32$7.0M$6.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$66K$40K$13K$13K
Pay of disqualified personsLn 6$16K$16K
Other salaries and wagesLn 7$1.6M$1.2M$309K$76K
Pension plan contributionsLn 8$22K$22K
Other employee benefitsLn 9$30K$30K
Payroll taxesLn 10$132K$100K$25K$7K
Accounting feesLn 11c$12K$12K
Advertising and promotionLn 12$20K$20K
Office expensesLn 13$13K$13K
Information technologyLn 14$11K$11K
OccupancyLn 16$39K$39K
Conferences, conventions and meetingsLn 19$223$223
InterestLn 20$70K$70K
Depreciation, depletion and amortizationLn 22$309K$309K
InsuranceLn 23$42K$42K
Other expenses (24a–d)Ln 24$81K$81K
All other expensesLn 24e$42K$42K
Total functional expensesLn 25$2.5M$2.0M$347K$116K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.9M$2.6M−$718K$5.4M 990 PDF
FY2024 $1.6M$2.6M−$978K$6.1M 990 PDF
FY2023 $1.9M$2.5M−$518K$7.0M 990 PDF
FY2022 $3.3M$2.4M$959K$7.5M 990 PDF
FY2021 Viewing $2.4M$2.5M−$116K$6.9M 990 PDF
FY2020 $2.2M$2.5M−$331K$7.0M 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 $2,389,524 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $933,944$851,243
I-9 Program service revenuePrior year $1,211,612$1,437,567
I-10 Investment incomePrior year $13,938$21,937
I-11 Other revenuePrior year $49,204$78,777
I-12 Total revenuePrior year $2,208,698$2,389,524
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,840,121$1,865,530
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $699,956$640,454
I-18 Total expensesPrior year $2,540,077$2,505,984
I-19 Revenue less expensesPrior year −$331,379−$116,460
Part VI · Governance 14 of 14 board members independent, 1 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,389,524 across 10 lines filed
VIII-1e Government grants$349,100
VIII-1f All other contributions, gifts and grants$502,143
VIII-1g Noncash contributions (included above)$43,231
VIII-1h Total contributions, gifts and grants$851,243
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,437,567$1,437,567
VIII-3 Investment incomeExcluded from tax $9,706$9,706
VIII-7 Net gain or loss on sales of assetsRelated to mission $12,231$12,231
VIII-8 Net income from fundraising eventsExcluded from tax $74,062$74,062
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,715$4,715
VIII-12 Total revenueRelated to mission $1,454,513 · Excluded from tax $83,768$2,389,524
Part IX · Statement of functional expenses $2,505,984 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $39,898 · Management $13,299 · Fundraising $13,299$66,496
IX-6 Pay of disqualified personsPrograms $15,643$15,643
IX-7 Other salaries and wagesPrograms $1,214,777 · Management $308,908 · Fundraising $75,529$1,599,214
IX-8 Pension plan contributionsPrograms $22,299$22,299
IX-9 Other employee benefitsPrograms $30,207$30,207
IX-10 Payroll taxesPrograms $100,227 · Management $24,649 · Fundraising $6,795$131,671
IX-11c Accounting feesPrograms $12,274$12,274
IX-12 Advertising and promotionFundraising $20,460$20,460
IX-13 Office expensesPrograms $13,419$13,419
IX-14 Information technologyPrograms $11,130$11,130
IX-16 OccupancyPrograms $39,111$39,111
IX-19 Conferences, conventions and meetingsPrograms $223$223
IX-20 InterestPrograms $70,286$70,286
IX-22 Depreciation, depletion and amortizationPrograms $309,161$309,161
IX-23 InsurancePrograms $42,075$42,075
IX-24 Other expenses (24a–d)Programs $80,561$80,561
IX-24e All other expensesPrograms $41,754$41,754
IX-25 Total functional expensesPrograms $2,043,045 · Management $346,856 · Fundraising $116,083$2,505,984
Part X · Balance sheet $8,859,764 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $306,847$261,822
X-4 Accounts receivable$12,368
X-9 Prepaid expenses and deferred chargesStart of year $12,349$10,558
X-10c Land, buildings and equipment, netStart of year $8,399,486$8,149,920
X-12 Other securitiesStart of year $355,036$425,096
X-16 Total assetsStart of year $9,073,718$8,859,764
X-17 Accounts payable and accrued expensesStart of year $137,317$130,059
X-19 Deferred revenueStart of year $103,500$138,979
X-26 Total liabilitiesStart of year $2,093,879$1,918,280
X-27 Net assets without donor restrictionsStart of year $6,334,577$6,130,413
X-28 Net assets with donor restrictionsStart of year $645,262$811,071
X-32 Total net assets or fund balancesStart of year $6,979,839$6,941,484
X-33 Total liabilities and net assetsStart of year $9,073,718$8,859,764
Part XI · Reconciliation of net assets $6,941,484 net assets at year end
XI-1 Total revenue$2,389,524
XI-2 Total expenses$2,505,984
XI-3 Revenue less expenses−$116,460
XI-4 Net assets at start of year$6,979,839
XI-5 Net unrealized gains (losses) on investments$59,005
XI-9 Other changes in net assets$19,100
XI-10 Net assets at end of year$6,941,484

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

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