St Thomas More Academy Inc
- Assets
- $8.3m
- Revenue
- $3.2m
- Investments
- $3.5m
- Employees
- 41
- Location
- Raleigh, NC
- Founding
- 04/2004
- Data as of
- 06/2021
- EIN
- 02-0624214
Organization Overview
St Thomas More Academy Inc is located in Raleigh, NC. The organization was established in 2004. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, St Thomas More Academy Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Thomas More Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, St Thomas More Academy Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $2.2m during the year ending 06/2021. While expenses have increased by 5.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ST. THOMAS MORE ACADEMY PROVIDES A CLASSICAL COLLEGE-PREPARATORY CURRICULUM FOR GRADES 9-12 THAT FULLY PARTICIPATES IN THE ROMAN CATHOLIC TRADITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES WERE INCURRED TO OPERATE A SCHOOL FOR 197 HIGH SCHOOL STUDENTS. THESE EXPENSES INCLUDED TEACHER SALARIES, EDUCATIONAL MATERIALS AND STUDENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradley E Watkins Headmaster | OfficerTrustee | 40 | $99,306 |
Robert L Luddy President | OfficerTrustee | 2 | $0 |
William H Francis Jr Corporate Secretary | Officer | 2 | $0 |
Randolph L Luddy Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,882,900 |
| Noncash contributions included in lines 1a–1f | $1,102,650 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,882,900 |
| Total Program Service Revenue | $1,206,105 |
| Investment income | $71,608 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,012 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,172,625 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $121,177 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $104,122 |
| Compensation of current officers, directors, key employees. | $104,122 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,037,990 |
| Pension plan accruals and contributions | $15,627 |
| Other employee benefits | $59,191 |
| Payroll taxes | $87,595 |
| Fees for services: Management | $11,280 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,003 |
| Advertising and promotion | $28,064 |
| Office expenses | $55,129 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,846 |
| Travel | $3,690 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $333,496 |
| Insurance | $9,885 |
| All other expenses | $12,498 |
| Total functional expenses | $2,177,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,731 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,483 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,713,360 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,464,675 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $81,734 |
| Total assets | $8,332,983 |
| Accounts payable and accrued expenses | $151,018 |
| Grants payable | $0 |
| Deferred revenue | $74,127 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $225,145 |
| Net assets without donor restrictions | $8,107,838 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,332,983 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that St Thomas More Academy Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Tulsa Community Foundation Tulsa, OK PURPOSE: SCHOLARSHIP | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ashley Hall Foundation Charleston, SC | $53,552,404 | $18,962,378 |
Heathwood Hall Episcopal School Columbia, SC | $39,181,921 | $20,445,816 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
Greenville Renewable Energy Education Charter School Greenville, SC | $26,163,515 | $17,750,984 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Strong Rock Christian School Inc Locust Grove, GA | $18,179,980 | $18,285,975 |
Fellowship Christian School Inc Roswell, GA | $48,536,188 | $18,034,878 |
Dubois Integrity Academy Inc Riverdale, GA | $36,435,666 | $18,797,787 |
St Francis Day School Inc Roswell, GA | $35,555,718 | $15,564,442 |