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Trinity Faith Academy FY2024 filing

Tax-deductible

Granbury, TX501(c)(3)ReligionEIN 93-1361887Revenue $269K in FY2024

On file with the IRS3410 Glen Rose Hwy, 76048-2808 · Granbury, TXTax-exempt since Mar 2024School — 170(b)(1)(A)(ii)

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The Academy is organized to operate as an educational organization exclusively for educational and charitable purposes. The specific and primary charitable purposes include, but not limited to, the operation of one or more schools to cooperate with parents to educate their children, including from kindergarten through high school, in a historic christian worldview and related rigorous curriculum.

501(c)(3) charity; gifts are tax-deductible.
93¢ 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
1 of 2
filings with a surplus
Average deficit $17K a year · 7% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$31K
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$269K
+199% vs prior year
Spent
$266K
To programs
93%
Net assets
$83K
By yearFY2023–FY2025
Revenue
$269K
FY2024▲ +199%
Tap a bar for its year
Revenue by fiscal year
FY2023$90K
FY2024$269K
FY2025$226K
Expenses
$266K
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2023Not on file
FY2024$266K
FY2025$261K
Net assets
$83K
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2023$81K
FY2024$83K
FY2025$51K

From the FY2024 Form 990 (year ending July 2024) · see the original

990 PDF Claim
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 Mar 2024.

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% · $247K Management & general 7% · $19K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Paul Duncan
Director / M
$0Pt VII · Sec A
$0Pt VII · Sec A
Regina George
Executive Di
$0Pt VII · Sec A
Nita Vaughn
Treasurer
$0Pt VII · Sec A
Jeff Young
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Joy Smithwick
Admin Assist
$0Pt VII · Sec A
$0Pt VII · Sec A
See Trinity Faith Academy executive salaries →

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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 15aNo

Programs and updates

Educates children from kindergarten through high school in a historic Christian worldview and rigorous curriculum.

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Provided by the organization

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1 program · $245K · in their own filed words · FY2023
01

To provide learning and educational services to students from kindergarten through high school in a homeschool cooperative environment with a historic christian worldview.

$245Kprogram 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 · FY2023
The Kenneth Hill FoundationFY2023$25K
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$269K
Ln 12
Fees for servicesLn 2g$254K
Gifts and grantsLn 1h$13K
Other incomeLn 4–11$2K
Money outPt IX
$266K
Ln 25
Programscol B$247K
Managementcol C$19K
Owns and owesPt X
$83K
net assets · Ln 32
Cash and savingsLn 1–2$114K
Total assetsLn 16$114K
LiabilitiesLn 26$31K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$13K
Government grantsLn 1e$13K
Fees for servicesLn 2g$254K
Other incomeLn 4–11$2K
Total revenueLn 12$269K
Assets in detailPt X, end of year
CashLn 1$114K
Cash and savings togetherLn 1–2$114K
Total assetsLn 16$114K
LiabilitiesLn 26$31K
Net assetsLn 32$83K
OperationsPt I, VI
EmployeesI 522
Fiscal year endsHeaderJuly
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$82K$114K
Total assetsLn 16$82K$114K
LiabilitiesLn 26$1K$31K
Net assetsLn 32$81K$83K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$173K$173K
Payroll taxesLn 10$48K$48K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$14K$4K$10K
Advertising and promotionLn 12$191$191
Office expensesLn 13$2K$2K
Information technologyLn 14$5K$5K
OccupancyLn 16$20K$20K
Total functional expensesLn 25$266K$247K$19K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $226K$261K−$36K$51K 990 PDF
FY2024 Viewing $269K$266K$3K$83K 990 PDF
FY2023 $90K$81K 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 $269,077 revenue, 12 lines filed
I-8 Contributions and grants$13,091
I-9 Program service revenue$254,451
I-10 Investment income$0
I-11 Other revenue$1,535
I-12 Total revenue$269,077
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$220,240
I-16a Professional fundraising fees$0
I-17 Other expenses$46,216
I-18 Total expenses$266,456
I-19 Revenue less expenses$2,621
Part VI · Governance 3 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
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 $269,077 across 5 lines filed
VIII-1e Government grants$13,091
VIII-1h Total contributions, gifts and grants$13,091
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $254,451$254,451
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,535$1,535
VIII-12 Total revenueRelated to mission $254,451 · Excluded from tax $1,535$269,077
Part IX · Statement of functional expenses $266,456 across 8 lines filed
IX-7 Other salaries and wagesPrograms $172,700$172,700
IX-10 Payroll taxesPrograms $47,540$47,540
IX-11c Accounting feesManagement $4,238$4,238
IX-11g Other fees for servicesPrograms $4,438 · Management $9,961$14,399
IX-12 Advertising and promotionManagement $191$191
IX-13 Office expensesPrograms $2,252$2,252
IX-14 Information technologyManagement $4,877$4,877
IX-16 OccupancyPrograms $20,259$20,259
IX-25 Total functional expensesPrograms $247,189 · Management $19,267 · Fundraising $0$266,456
Part X · Balance sheet $113,957 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $81,778$113,957
X-16 Total assetsStart of year $81,778$113,957
X-25 Other liabilitiesStart of year $1,021$30,579
X-26 Total liabilitiesStart of year $1,021$30,579
X-27 Net assets without donor restrictionsStart of year $80,757$83,378
X-32 Total net assets or fund balancesStart of year $80,757$83,378
X-33 Total liabilities and net assetsStart of year $81,778$113,957
Part XI · Reconciliation of net assets $83,378 net assets at year end
XI-1 Total revenue$269,077
XI-2 Total expenses$266,456
XI-3 Revenue less expenses$2,621
XI-4 Net assets at start of year$80,757
XI-10 Net assets at end of year$83,378

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

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