Frederick East Classical INC EIN 81-5289684 Form 990 (PDF) Claim this org

Frederick East Classical INC

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Provides classical education for homeschooled students in Maryland and four surrounding states. For fiscal year 2024 it reported $124K in revenue, $126K in expenses, and $42K in net assets.Pt I

Founded
2017
Type
Public charity (501(c)(3)) · Education
Location
Walkersville, MD
Website
www.frederickeastclassical.com
Filings
5 on file (2020–2024)
Revenue
$124KFY2024
Expenses
$126K
Net assets
$42K
People
5
Filings
5
Updates
0
More identity details & actions ⌄
EIN  81-5289684 Public charity (501(c)(3)) Walkersville, MD Founded 2017
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides classical education for homeschooled students in Maryland and four surrounding states.
Leadership
Kelly Wheeler · Executive Director & Tutor · $18K
Money in and out
$124K revenue, $126K expenses
Bottom line
4.0mo operating runway
Where the money goes · FY2024
Total revenue
$124K
Pt VIII · Ln 12
Total expenses
$126K
Pt IX · Ln 25
Net assets
$42K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$2K
Operating runway
4.0mo
months of highly liquid reserves at operating expense rate▲ +14% vs prior filing year
Surplus margin
-2%
revenue over expenses, this year▲ +64% vs prior filing year
Revenue trend
-8%
avg. annual growth over 5 years

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$124K
FY2024▼ -10%
Expenses
$126K
FY2024▼ -12%
Total assets
$42K
FY20240%
Total liabilities
$0
FY2024
Total revenue
$124K
Pt VIII · Ln 12
Total expenses
$126K
Pt IX · Ln 25
Net assets
$42K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$2K
Total assetsPt X · Ln 16$42K
Program-expense ratioPt IX · col B
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $127K of program spending, described in the organization's own filed words · FY2024.
01

This co-op provides classes in Latin Math Science Grammar and Writing Tutors provide weekly instruction on Mondays and Wednesdays and families are provided at home assignments to be completed on Tuesdays Thursdays and Fridays.

$127Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFrederick East Classical INC
EINHdr · item D81-5289684
Principal addressHdr · item CWalkersville, MD
WebsiteHdr · item Jwww.frederickeastclassical.com
Year of formationHdr · item L2017
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B20)
Ruling yearIRS BMFJul 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director & Tutor
$18,094Pt VII · Sec A
Office Administrator & Tutor
$7,667Pt VII · Sec A
Executive Director & Tutor
$6,659Pt VII · Sec A
Board Chair & Tutor
$6,625Pt VII · Sec A
Office Administrator
$3,503Pt VII · Sec A

Kelly Wheeler’s $18K as Executive Director & Tutor is at the 13th percentile of top reported officer pay among 1616 $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 · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kimberly S Jernigan$12,000$20,854
Kelly Wheeler$18,094$9,076$11,411$8,733
Ruth a Allen$15,416
Renee Denny$7,667$10,467$10,433$10,000
Susan Bolger$10,378$3,928
Kelly a Wheeler$10,174
Ruth Allen$6,659$9,451$1,036
Steve E Boucher$6,625$5,196

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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Statement of Revenue

Part VIII
Program service revenue100%$124K
Total revenueLn 12$124K

Balance Sheet

Part X · end of year
CashLn 1$42K
Total assetsLn 16$42K
Total liabilitiesLn 26$0
Total net assetsLn 32$42K
Months of cash on handcomputed4.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $42K · Operating expenses/yr $126K
4.0 months
Where the money goes
Program services
Program services $0 · Total expenses $126K
not reported
Management & General
Management & general $0 · Total expenses $126K
not reported
Fundraising
Fundraising $0 · Total expenses $126K
not reported
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $60
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $124K
0%
Government reliance
Government grants — · Total revenue $124K
Earned-income share
Program service revenue $124K · Total revenue $124K
100%
Investment reliance
Investment income $0 · Total revenue $124K
0%
Program self-sufficiency
Program service revenue $124K · Total expenses $126K
98%
Growth & trend
Revenue growth (YoY)
This year $124K · Prior year $138K
-10%
Revenue CAGR
FY2020 $176K · FY2024 $124K
-8%
Net-asset trend (YoY)
End of year $42K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $124K · Expenses $126K
-2%
Liabilities-to-Assets
Total liabilities — · Total assets $42K
Net-asset ratio
Net assets $42K · Total assets $42K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $42K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Kelly Wheeler · Reported title Executive Director & Tutor · Highest reported compensation $18K · Total expenses $126K
14%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $64K · Total expenses $126K
51%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth -10%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$150

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$124K revenue · viewing · ⤓ 990 PDF
FY2023$138K revenue · ⤓ 990 PDF
FY2022$119K revenue · ⤓ 990 PDF
FY2021$262K revenue · ⤓ 990 PDF
FY2020$176K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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