Grace Prep Incorporated
- Assets
- $278.6k
- Revenue
- $654.6k
- Investments
- $0.0
- Employees
- 14
- Location
- State College, PA
- Founding
- 08/2005
- Data as of
- 06/2023
- EIN
- 20-1224844
Organization Overview
Grace Prep Incorporated is located in State College, PA. The organization was established in 2005. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2023, Grace Prep Incorporated employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grace Prep Incorporated 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 06/2023, Grace Prep Incorporated generated $654.6k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $757.2k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PRIVATE CHRISTIAN SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION OF APPROXIMATELY 50 STUDENTS IN GRADES 9 THROUGH 12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Gresh President | OfficerTrustee | 2 | $0 |
Robi Hairs Vp/treasurer | Trustee | 2 | $0 |
Steve Weaver Treasurer | Trustee | 2 | $0 |
Jeff Wendle Member | 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 | $74,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $74,900 |
| Total Program Service Revenue | $577,160 |
| Investment income | $2,533 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $654,593 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $433,755 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $42,189 |
| Payroll taxes | $28,745 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,516 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,425 |
| Advertising and promotion | $14,950 |
| Office expenses | $19,534 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,159 |
| Travel | $1,244 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,954 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,096 |
| Insurance | $5,142 |
| All other expenses | $21,740 |
| Total functional expenses | $757,241 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,720 |
| Savings and temporary cash investments | $175,975 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,464 |
| 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 | $20,441 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $278,600 |
| Accounts payable and accrued expenses | $8,632 |
| Grants payable | $0 |
| Deferred revenue | $57,116 |
| 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 | $65,748 |
| Net assets without donor restrictions | $212,852 |
| 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 | $278,600 |