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Grace Classical School INC FY2024 filing

Tax-deductible

Jacksonville, NC501(c)(3)Education EIN 81-0789133Revenue $518K in FY2024Latest return filed Aug 26, 2025

On file with the IRSgraceclassical.netJacksonville, NCTax-exempt since May 2016School — 170(b)(1)(A)(ii)

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Grace Classical school's mission is to partner with parents in educating their children utilizing the Classical model in light of a christian worldview grounded in the scriptures.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
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 5
filings with a surplus
Average surplus $39K a year · 8% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$20K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$518K
+3% vs prior year
Spent
$487K
To programs
97%
Net assets
$267K
By yearFY2021–FY2025
Revenue
$518K
FY2024▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2021$323K
FY2022$393K
FY2023$501K
FY2024$518K
FY2025$610K
Expenses
$487K
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2021$262K
FY2022$341K
FY2023$436K
FY2024$487K
FY2025$623K
Net assets
$267K
FY2024▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2021$119K
FY2022$171K
FY2023$235K
FY2024$267K
FY2025$254K

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

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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 May 2016.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $472K Management & general 3% · $14K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Andrew Ellis
Treasurer &
$0Pt VII · Sec A
Mark Thompson
President
$0Pt VII · Sec A
William Thomas
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Joe Seykora
Asst Treasur
$0Pt VII · Sec A
See Grace Classical School 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 15aNo

Programs and updates

Educates children using the classical model and a Christian worldview.

Questions for Grace Classical School INC

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1 program · $472K · in their own filed words · FY2023
01

Grace classical school had 144 students enrolled during its eighth year of operation

$472Kprogram 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 · FY2025
Folds of Honor FoundationFY2025$7K
Total grants receivedfrom 1 funder$7K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$518K
Ln 12
Fees for servicesLn 2g$512K
Other incomeLn 4–11$5K
Investment incomeLn 3$149
Money outPt IX
$487K
Ln 25
Programscol B$472K
Managementcol C$14K
Owns and owesPt X
$267K
net assets · Ln 32
Cash and savingsLn 1–2$285K
Total assetsLn 16$286K
LiabilitiesLn 26$20K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$512K
Investment incomeLn 3$149
Other incomeLn 4–11$5K
Total revenueLn 12$518K
Assets in detailPt X, end of year
CashLn 1$285K
Cash and savings togetherLn 1–2$285K
Other assetsLn 15$1K
Total assetsLn 16$286K
LiabilitiesLn 26$20K
Net assetsLn 32$267K
OperationsPt I, VI
EmployeesI 537
VolunteersI 610
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 FY24End FY24
Cash and savingsLn 1–2$245K$285K
Total assetsLn 16$246K$286K
LiabilitiesLn 26$10K$20K
Net assetsLn 32$235K$267K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$352K$352K
Payroll taxesLn 10$27K$27K
Accounting feesLn 11c$13K$13K
Advertising and promotionLn 12$460$460
Office expensesLn 13$9K$9K
OccupancyLn 16$24K$24K
TravelLn 17$2K$2K
Conferences, conventions and meetingsLn 19$6K$6K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$49K$48K$1K
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$487K$472K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Aug 26, 2025 $610K$623K−$13K$254K 990 PDF
FY2024 ViewingFiled with the IRS Sep 19, 2024 $518K$487K$31K$267K 990 PDF
FY2023Filed with the IRS Aug 29, 2023 $501K$436K$65K$235K 990 PDF
FY2022Filed with the IRS Oct 10, 2022 $393K$341K$51K$171K 990 PDF
FY2021Filed with the IRS Sep 24, 2021 $323K$262K$60K$119K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $517,876 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $496,095$512,294
I-10 Investment incomePrior year $207$149
I-11 Other revenuePrior year $4,418$5,433
I-12 Total revenuePrior year $500,720$517,876
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $336,543$379,318
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $99,338$107,336
I-18 Total expensesPrior year $435,881$486,654
I-19 Revenue less expensesPrior year $64,839$31,222
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $517,876 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $512,294$512,294
VIII-3 Investment incomeRelated to mission $149$149
VIII-8 Net income from fundraising events$5,433
VIII-12 Total revenueRelated to mission $512,443$517,876
Part IX · Statement of functional expenses $486,654 across 11 lines filed
IX-7 Other salaries and wagesPrograms $352,362$352,362
IX-10 Payroll taxesPrograms $26,956$26,956
IX-11c Accounting feesManagement $12,995$12,995
IX-12 Advertising and promotionPrograms $460$460
IX-13 Office expensesPrograms $8,611$8,611
IX-16 OccupancyPrograms $24,000$24,000
IX-17 TravelPrograms $1,896$1,896
IX-19 Conferences, conventions and meetingsPrograms $6,027$6,027
IX-23 InsurancePrograms $2,905$2,905
IX-24 Other expenses (24a–d)Programs $47,767 · Management $1,306$49,073
IX-24e All other expensesPrograms $1,369$1,369
IX-25 Total functional expensesPrograms $472,353 · Management $14,301 · Fundraising $0$486,654
Part X · Balance sheet $286,446 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $244,954$285,446
X-15 Other assetsStart of year $1,000$1,000
X-16 Total assetsStart of year $245,954$286,446
X-17 Accounts payable and accrued expensesStart of year $2,328$1,521
X-19 Deferred revenueStart of year $8,130$18,207
X-26 Total liabilitiesStart of year $10,458$19,728
X-27 Net assets without donor restrictionsStart of year $235,496$266,718
X-32 Total net assets or fund balancesStart of year $235,496$266,718
X-33 Total liabilities and net assetsStart of year $245,954$286,446
Part XI · Reconciliation of net assets $266,718 net assets at year end
XI-1 Total revenue$517,876
XI-2 Total expenses$486,654
XI-3 Revenue less expenses$31,222
XI-4 Net assets at start of year$235,496
XI-10 Net assets at end of year$266,718

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

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