Abilene Classical Academy FY2024 filing

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Education of Children from pre-school through 10th grade

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$65K 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
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $96K a year · 18% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$65K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
7 mo
of spending, in cash
Looks good: 6.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$70K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$516K
+58% vs prior year
Spent
$418K
To programs
72%
Net assets
$220K
By yearFY2022–FY2026
Revenue
$516K
FY2024▲ +58%
Tap a bar for its year
Revenue by fiscal year
FY2022$216K
FY2023$326K
FY2024$516K
FY2025$616K
FY2026$1.0M
Expenses
$418K
FY2024▲ +32%
Tap a bar for its year
Expenses by fiscal year
FY2022$119K
FY2023$316K
FY2024$418K
FY2025$546K
FY2026$811K
Net assets
$220K
FY2024▲ +83%
Tap a bar for its year
Net assets by fiscal year
FY2022$110K
FY2023$120K
FY2024$220K
FY2025$294K
FY2026$498K

From the FY2024 Form 990 (year ending May 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 (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Oct 2021.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $303K Management & general 28% · $115K

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

7 people listed on the 990; $65K 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
Board Member & Headmaster
$63,354Pt VII · Sec A
Board Member
$1,750Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jackson Boen’s $82K as Board Member & Headmaster is at the 73rd percentile of top reported officer pay among 1613 $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 · 3 named individuals · Part VII

NameFY2026FY2025FY2024FY2023
Josh Cornett———$85,042
Jackson Boen$81,660$75,000$63,354—
Blake White——$1,750—

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.

See Abilene Classical Academy 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 15aYes

Programs and updates

Abilene Classical Academy is an education nonprofit based in Abilene, TX, formed in 2020.

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1 program · $303K · in their own filed words · FY2023
01

Children's Education

$303Kprogram 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$10K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$516K
Ln 12
Fees for servicesLn 2g$420K
Gifts and grantsLn 1h$96K
Money outPt IX
$418K
Ln 25
Programscol B$303K
Managementcol C$115K
Owns and owesPt X
$220K
net assets · Ln 32
Cash and savingsLn 1–2$239K
Total assetsLn 16$290K
LiabilitiesLn 26$70K
PeoplePt VI, VII
7
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$96K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$3K
Fees for servicesLn 2g$420K
Total revenueLn 12$516K
Assets in detailPt X, end of year
CashLn 1$139K
SavingsLn 2$100K
Cash and savings togetherLn 1–2$239K
Accounts receivableLn 4$70
InvestmentsLn 11–13$50K
Total assetsLn 16$290K
LiabilitiesLn 26$70K
Net assetsLn 32$220K
OperationsPt I, VI
EmployeesI 541
VolunteersI 610
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
EndowmentSch D · Pt V
LineFY24FY23FY22FY21FY20
End of yearLn 1g$50K$0$0$0$0
Given inLn 1b$50K$0$0$0$0
SpentLn 1d–1f$0$0$0$0$0
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$127K$239K
InvestmentsLn 11–13$0$50K
Total assetsLn 16$127K$290K
LiabilitiesLn 26$7K$70K
Net assetsLn 32$120K$220K
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$63K$4K$60K
Pay of disqualified personsLn 6$0$0
Other salaries and wagesLn 7$250K$220K$30K
Pension plan contributionsLn 8$750$750
Other employee benefitsLn 9$1K$1K
Payroll taxesLn 10$23K$17K$7K
Legal feesLn 11b$750$750
Other fees for servicesLn 11g$5K$5K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$8K$2K$6K
Information technologyLn 14$12K$3K$9K
Conferences, conventions and meetingsLn 19$5K$5K$7
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$44K$44K$0
Total functional expensesLn 25$418K$303K$115K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 LatestFiled with the IRS Aug 25, 2026 $1.0M$811K$204K$498K 990 PDF
FY2025Filed with the IRS Sep 22, 2025 $616K$546K$71K$294K 990 PDF
FY2024 ViewingFiled with the IRS Sep 30, 2024 $516K$418K$98K$220K 990 PDF
FY2023Filed with the IRS Sep 21, 2023 $326K$316K$10K$120K 990 PDF
FY2022Filed with the IRS Sep 28, 2022 $216K$119K$98K$110K 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 $516,084 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $43,506$95,762
I-9 Program service revenuePrior year $282,725$420,322
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $326,231$516,084
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $258,351$338,544
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $58,124$79,505
I-18 Total expensesPrior year $316,475$418,049
I-19 Revenue less expensesPrior year $9,756$98,035
Part VI · Governance 6 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $516,084 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$3,200
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$92,562
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$95,762
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $420,322 · Unrelated business $0 · Excluded from tax $0$420,322
VIII-12 Total revenueRelated to mission $420,322 · Unrelated business $0 · Excluded from tax $0$516,084
Part IX · Statement of functional expenses $418,049 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $3,500 · Management $59,854$63,354
IX-6 Pay of disqualified personsPrograms $0$0
IX-7 Other salaries and wagesPrograms $220,027 · Management $29,860$249,887
IX-8 Pension plan contributionsPrograms $750$750
IX-9 Other employee benefitsPrograms $1,167$1,167
IX-10 Payroll taxesPrograms $16,688 · Management $6,698$23,386
IX-11b Legal feesPrograms $750$750
IX-11g Other fees for servicesPrograms $4,715$4,715
IX-12 Advertising and promotionManagement $1,582$1,582
IX-13 Office expensesPrograms $2,426 · Management $5,729$8,155
IX-14 Information technologyPrograms $3,324 · Management $9,161$12,485
IX-19 Conferences, conventions and meetingsPrograms $5,482 · Management $7$5,489
IX-23 InsuranceManagement $2,274$2,274
IX-24 Other expenses (24a–d)Programs $44,055 · Management $0$44,055
IX-25 Total functional expensesPrograms $302,884 · Management $115,165 · Fundraising $0$418,049
Part X · Balance sheet $289,541 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $126,829$139,116
X-2 Savings and temporary cash investmentsStart of year $285$100,355
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$70
X-5 Loans to officers and key peopleStart of year $0$0
X-6 Loans to other insidersStart of year $0$0
X-7 Notes and loans receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$50,000
X-14 Intangible assetsStart of year $0$0
X-16 Total assetsStart of year $127,114$289,541
X-25 Other liabilitiesStart of year $6,978$69,806
X-26 Total liabilitiesStart of year $6,978$69,806
X-29 Capital stock or trust principalStart of year $1,000$1,000
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year $119,136$218,735
X-32 Total net assets or fund balancesStart of year $120,136$219,735
X-33 Total liabilities and net assetsStart of year $127,114$289,541
Part XI · Reconciliation of net assets $219,735 net assets at year end
XI-1 Total revenue$516,084
XI-2 Total expenses$418,049
XI-3 Revenue less expenses$98,035
XI-4 Net assets at start of year$120,136
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$1,564
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$219,735

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

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