Hope Academy FY2024 filing

Tax-deductible

Groveland, FL501(c)(3)EIN 81-2752344Revenue $1.5M in FY2024

On file with the IRSgohopeacademy.org13806 State Road 33, 34736-9499 · Groveland, FLTax-exempt since Jun 1998Church — 170(b)(1)(A)(i)

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Our goal is to empower, educate, and elevate all students enrolled in mind, body and spirit with a focus on career and college readiness in order to become dynamic leaders for christ. In Hope Academy with a focus on college prep courses. To provide equal access for all students to robust educational opportunities, in a christian-based environment, that prepares them for college.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
$18K 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
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 $114K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$18K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.2M
71% of total assets
Worth a look: liabilities are 71% of assets; over 65%.
Pt X · Ln 26
Independent board members
0
of 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+38% vs prior year
Spent
$1.4M
To programs
93%
Net assets
$474K
By yearFY2021–FY2025
Revenue
$1.5M
FY2024▲ +38%
Tap a bar for its year
Revenue by fiscal year
FY2021$659K
FY2022$831K
FY2023$1.1M
FY2024$1.5M
FY2025$2.2M
Expenses
$1.4M
FY2024▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2021$577K
FY2022$786K
FY2023$1.1M
FY2024$1.4M
FY2025$1.9M
Net assets
$474K
FY2024▲ +36%
Tap a bar for its year
Net assets by fiscal year
FY2021$121K
FY2022$166K
FY2023$347K
FY2024$474K
FY2025$830K

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

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1998.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $1.3M Management & general 7% · $102K

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

4 people listed on the 990; $18K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Operations Director
$10,962Pt VII · Sec A
Co-Founder/Vice-President/HR Director
$7,501Pt VII · Sec A
Founder/CEO
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Randolph Waite——$76,573$75,000$77,885
Eucretia Waite——$42,554$42,375$44,005
Khrystyna Tremaine$34,346$10,962——$623
Jodie McCoy$27,693$7,501———

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Prepares students for college and leadership through Christian-based education focused on mind, body, and spirit.

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Provided by the organization

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1 program · $1.3M · in their own filed words · FY2023
01

To provide equal access to all students through a christian-based educational environment in preparation for college bound students.

$1.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $9K · 2023–2023

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Fees for servicesLn 2g$1.5M
Gifts and grantsLn 1h$20K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.3M
Managementcol C$102K
Owns and owesPt X
$474K
net assets · Ln 32
Cash and savingsLn 1–2$9K
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
4
listed · VII A
PaidVII A2
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$20K
Fees for servicesLn 2g$1.5M
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$9K
Cash and savings togetherLn 1–2$9K
Land, buildings, equipmentLn 10c$1.6M
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.2M
Net assetsLn 32$474K
OperationsPt I, VI
EmployeesI 515
VolunteersI 63
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$178K$9K
Land, buildings, equipmentLn 10c$281K$1.6M
Total assetsLn 16$461K$1.6M
LiabilitiesLn 26$114K$1.2M
Net assetsLn 32$347K$474K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$12K$12K
Pay of current officers, directors and key staffLn 5$49K$27K$22K
Other salaries and wagesLn 7$647K$647K
Other employee benefitsLn 9$5K$5K
Payroll taxesLn 10$169K$163K$5K
Legal feesLn 11b$2K$1K$1K
Accounting feesLn 11c$18K$9K$9K
Other fees for servicesLn 11g$45K$41K$5K
Advertising and promotionLn 12$1K$1K
Information technologyLn 14$35K$31K$5K
OccupancyLn 16$36K$29K$7K
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$39K$35K$4K
InsuranceLn 23$11K$5K$5K
Other expenses (24a–d)Ln 24$312K$281K$31K
All other expensesLn 24e$23K$23K
Total functional expensesLn 25$1.4M$1.3M$102K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.2M$1.9M$356K$830K 990 PDF
FY2024 Viewing $1.5M$1.4M$126K$474K 990 PDF
FY2023 $1.1M$1.1M−$39K$347K 990 PDF
FY2022 $831K$786K$45K$166K 990 PDF
FY2021 $659K$577K$82K$121K 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 FY2024 990 (6 parts)
Part I · Summary $1,533,791 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,922$20,057
I-9 Program service revenuePrior year $1,093,215$1,513,734
I-10 Investment incomePrior year $9,611$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,108,748$1,533,791
I-13 Grants and similar amounts paidPrior year $2,785$11,886
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $705,091$870,234
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $439,429$525,418
I-18 Total expensesPrior year $1,147,305$1,407,538
I-19 Revenue less expensesPrior year −$38,557$126,253
Part VI · Governance 0 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,533,791 across 4 lines filed
VIII-1f All other contributions, gifts and grants$20,057
VIII-1h Total contributions, gifts and grants$20,057
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,513,734$1,513,734
VIII-12 Total revenueRelated to mission $1,513,734 · Unrelated business $0 · Excluded from tax $0$1,533,791
Part IX · Statement of functional expenses $1,407,538 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $11,886$11,886
IX-5 Pay of current officers, directors and key staffPrograms $26,979 · Management $22,214$49,193
IX-7 Other salaries and wagesPrograms $647,260$647,260
IX-9 Other employee benefitsManagement $4,970$4,970
IX-10 Payroll taxesPrograms $163,427 · Management $5,384$168,811
IX-11b Legal feesPrograms $1,000 · Management $1,000$2,000
IX-11c Accounting feesPrograms $8,988 · Management $8,988$17,976
IX-11g Other fees for servicesPrograms $40,887 · Management $4,515$45,402
IX-12 Advertising and promotionPrograms $1,262$1,262
IX-14 Information technologyPrograms $30,821 · Management $4,512$35,333
IX-16 OccupancyPrograms $29,067 · Management $7,267$36,334
IX-20 InterestManagement $2,868$2,868
IX-22 Depreciation, depletion and amortizationPrograms $34,729 · Management $3,859$38,588
IX-23 InsurancePrograms $5,389 · Management $5,389$10,778
IX-24 Other expenses (24a–d)Programs $280,541 · Management $31,144$311,685
IX-24e All other expensesPrograms $23,192$23,192
IX-25 Total functional expensesPrograms $1,305,428 · Management $102,110 · Fundraising $0$1,407,538
Part X · Balance sheet $1,643,960 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $177,602$9,283
X-10c Land, buildings and equipment, netStart of year $281,414$1,634,677
X-16 Total assetsStart of year $461,061$1,643,960
X-17 Accounts payable and accrued expenses$213
X-19 Deferred revenueStart of year $12,470$12,077
X-26 Total liabilitiesStart of year $113,571$1,170,217
X-27 Net assets without donor restrictionsStart of year $347,490$473,743
X-32 Total net assets or fund balancesStart of year $347,490$473,743
X-33 Total liabilities and net assetsStart of year $461,061$1,643,960
Part XI · Reconciliation of net assets $473,743 net assets at year end
XI-1 Total revenue$1,533,791
XI-2 Total expenses$1,407,538
XI-3 Revenue less expenses$126,253
XI-4 Net assets at start of year$347,490
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$473,743

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

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