Live Oak Classical School INC FY2021 filing

Tax-deductible

Waco, TX501(c)(3)Since 2003EducationEIN 77-0616274Revenue $4.6M in FY2021

On file with the IRSliveoakclassical.com400 S 4th St, 76706-1028 · Waco, TXTax-exempt since Jul 2004School — 170(b)(1)(A)(ii)

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Live Oak Classical School strives to equip students to love god with all their hearts, souls, and minds. We draw on the Classical tools of learning to prepare students to reason clearly, communicate effectively, & act responsibly in the world, all for the glory of god.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$133K 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $125K a year · 2% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$133K
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
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
99% of total assets
Concern: liabilities are 99% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 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
$4.6M
+0.8% vs prior year
Spent
$4.5M
To programs
81%
Net assets
$8K
By yearFY2020–FY2024
Revenue
$4.6M
FY2021▲ +0.8%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.5M
FY2021$4.6M
FY2022$4.9M
FY2023$5.3M
FY2024$6.2M
FY2024$6.9M
Expenses
$4.5M
FY2021▼ -0.8%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.5M
FY2021$4.5M
FY2022$5.1M
FY2023$5.9M
FY2024$6.2M
FY2024$6.8M
Net assets
$8K
FY2021▼ -99%
Tap a bar for its year
Net assets by fiscal year
FY2020$783K
FY2021$8K
FY2022−$4.5M
FY2023−$5.0M
FY2024−$4.7M
FY2024−$201K

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 (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2004.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $3.6M Management & general 19% · $826K

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

14 people listed on the 990; $133K 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 School,non-Voting
$71,777Pt VII · Sec A
Finance Director, Non-Voti
$61,421Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A

Alison Moffat’s $126K as Former Head of School, Non-Voting is at the 50th 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 · 6 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Alison Moffat$125,564$121,535—$73,000$71,777$69,000
Alison Moffatt——$99,942———
Brice Helton$83,481—————
Donna Zemanek$73,168$69,004$65,101$62,276$61,421$10,000
Sheryl Groppe—————$53,708
Sarah Pearsall$48,858—————

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

Educates students using classical methods to foster faith, reason, and responsibility.

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Provided by the organization

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1 program · $3.6M · in their own filed words · FY2020
01

To provide a christian and classical education for children in grades k through 12. During the year ended june 30, 2021, the school provided education for 442 students.

$3.6Mprogram 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
Total grants receivedfrom 1 funder$15K
Grants paid · 5 grants · $2.6M · 2019–2023
Unitemized GrantFY2023$600,000
Unitemized GrantFY2022$555,880
Unitemized GrantFY2021$535,970
Unitemized GrantFY2020$456,756
Unitemized GrantFY2019$425,353

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$4.6M
Ln 12
Fees for servicesLn 2g$4.5M
Gifts and grantsLn 1h$23K
Other incomeLn 4–11$3K
Money outPt IX
$4.5M
Ln 25
Programscol B$3.6M
Managementcol C$826K
Owns and owesPt X
$8K
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
14
listed · VII A
PaidVII A2
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$23K
Noncash giftsLn 1g$18K
Fees for servicesLn 2g$4.5M
Investment incomeLn 3$1K
Other incomeLn 4–11$3K
Total revenueLn 12$4.6M
Assets in detailPt X, end of year
CashLn 1$768K
SavingsLn 2$312K
Cash and savings togetherLn 1–2$1.1M
Land, buildings, equipmentLn 10c$83K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.3M
Net assetsLn 32$8K
OperationsPt I, VI
EmployeesI 5133
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$1.8M$1.1M
Land, buildings, equipmentLn 10c$145K$83K
Total assetsLn 16$2.3M$1.3M
LiabilitiesLn 26$1.6M$1.3M
Net assetsLn 32$783K$8K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$457K$457K
Pay of current officers, directors and key staffLn 5$131K$131K
Other salaries and wagesLn 7$2.4M$1.9M$419K
Pension plan contributionsLn 8$16K$14K$2K
Other employee benefitsLn 9$28K$23K$6K
Payroll taxesLn 10$186K$144K$42K
Legal feesLn 11b$533$533
Accounting feesLn 11c$8K$8K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$175K$6K$168K
Information technologyLn 14$42K$42K
OccupancyLn 16$642K$642K
TravelLn 17$3K$3K$27
Conferences, conventions and meetingsLn 19$13K$13K
InterestLn 20$840$840
Depreciation, depletion and amortizationLn 22$70K$70K
Other expenses (24a–d)Ln 24$306K$303K$4K
All other expensesLn 24e$21K$21K
Total functional expensesLn 25$4.5M$3.6M$826K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $6.2M$6.2M−$57K−$4.7M 990 PDF
FY2023 $5.3M$5.9M−$584K−$5.0M 990 PDF
FY2022 $4.9M$5.1M−$147K−$4.5M 990 PDF
FY2021 Viewing $4.6M$4.5M$116K$8K 990 PDF
FY2020 $4.5M$4.5M$46K$783K 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 $4,570,478 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $376,733$22,700
I-9 Program service revenuePrior year $3,989,348$4,543,262
I-10 Investment incomePrior year $3,185$1,414
I-11 Other revenuePrior year $164,919$3,102
I-12 Total revenuePrior year $4,534,185$4,570,478
I-13 Grants and similar amounts paidPrior year $425,353$456,756
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,607,542$2,712,727
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,455,516$1,284,533
I-18 Total expensesPrior year $4,488,411$4,454,016
I-19 Revenue less expensesPrior year $45,774$116,462
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
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-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,570,478 across 7 lines filed
Lines not itemized here account for −$94 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$22,700
VIII-1g Noncash contributions (included above)$17,658
VIII-1h Total contributions, gifts and grants$22,700
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,543,262$4,543,262
VIII-3 Investment incomeExcluded from tax $1,414$1,414
VIII-8 Net income from fundraising eventsExcluded from tax $3,196$3,196
VIII-12 Total revenueRelated to mission $4,543,168 · Unrelated business $0 · Excluded from tax $4,610$4,570,478
Part IX · Statement of functional expenses $4,454,016 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $456,756$456,756
IX-5 Pay of current officers, directors and key staffManagement $131,400$131,400
IX-7 Other salaries and wagesPrograms $1,932,251 · Management $418,759$2,351,010
IX-8 Pension plan contributionsPrograms $14,340 · Management $2,037$16,377
IX-9 Other employee benefitsPrograms $22,648 · Management $5,602$28,250
IX-10 Payroll taxesPrograms $143,753 · Management $41,937$185,690
IX-11b Legal feesManagement $533$533
IX-11c Accounting feesManagement $7,774$7,774
IX-12 Advertising and promotionManagement $4,019$4,019
IX-13 Office expensesPrograms $6,357 · Management $168,144$174,501
IX-14 Information technologyManagement $42,445$42,445
IX-16 OccupancyPrograms $642,004$642,004
IX-17 TravelPrograms $2,614 · Management $27$2,641
IX-19 Conferences, conventions and meetingsPrograms $12,959$12,959
IX-20 InterestPrograms $840$840
IX-22 Depreciation, depletion and amortizationPrograms $69,818$69,818
IX-24 Other expenses (24a–d)Programs $302,558 · Management $3,670$306,228
IX-24e All other expensesPrograms $20,771$20,771
IX-25 Total functional expensesPrograms $3,627,669 · Management $826,347 · Fundraising $0$4,454,016
Part X · Balance sheet $1,265,858 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $1,324,591$767,786
X-2 Savings and temporary cash investmentsStart of year $523,327$312,152
X-4 Accounts receivableStart of year $310,683$42,734
X-8 Inventories for sale or useStart of year $21,195$21,195
X-9 Prepaid expenses and deferred chargesStart of year $10,380$38,532
X-10c Land, buildings and equipment, netStart of year $145,002$83,459
X-16 Total assetsStart of year $2,335,178$1,265,858
X-17 Accounts payable and accrued expensesStart of year $110,750$54,335
X-19 Deferred revenueStart of year $950,343$740,886
X-24 Unsecured notes and loans payableStart of year $460,118$462,840
X-26 Total liabilitiesStart of year $1,551,993$1,258,061
X-27 Net assets without donor restrictionsStart of year $244,243$7,005
X-28 Net assets with donor restrictionsStart of year $538,942$792
X-32 Total net assets or fund balancesStart of year $783,185$7,797
X-33 Total liabilities and net assetsStart of year $2,335,178$1,265,858
Part XI · Reconciliation of net assets $7,797 net assets at year end
XI-1 Total revenue$4,570,478
XI-2 Total expenses$4,454,016
XI-3 Revenue less expenses$116,462
XI-4 Net assets at start of year$783,185
XI-8 Prior period adjustments−$114,616
XI-9 Other changes in net assets−$777,234
XI-10 Net assets at end of year$7,797

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

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