Living Stones Academy
- Assets
- $3.6m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 39
- Location
- Grand Rapids, MI
- Founding
- 07/2011
- Data as of
- 06/2021
- EIN
- 27-1110309
Organization Overview
Living Stones Academy is located in Grand Rapids, MI. The organization was established in 2011. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Living Stones Academy employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Living Stones Academy 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, Living Stones Academy generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 27.2% each year . All expenses for the organization totaled $1.6m during the year ending 06/2021. While expenses have increased by 14.9% 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
TO BE AN ACCESSIBLE, FAITH-BASED, NEIGHBORHOOD SCHOOL THAT STRIVES TO WORK TOGETHER AS A COMMUNITY TO PROVIDE A TRANSFORMATIONAL EDUCATION FOR CHILDREN IN GRADES PK-6 WITH AN EMPHASIS ON ACADEMIC ACHIEVEMENT AND A GOAL TO REFLECT THE RACIAL AND SOCIOECONOMIC DIVERSITY OF THE CITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF AN AFFORDABLE FAITH BASED SCHOOL THAT REFLECTS THE RACIAL AND SOCIOECONOMIC DIVERSITY OF GRAND RAPIDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harriet Potoka Vice Chair | Officer | 2 | $0 |
Brian Krosschell Treasurer | Officer | 3 | $0 |
Peter Boumgarden Chair | Officer | 5 | $0 |
Sara Knoester Secretary | Officer | 2 | $0 |
Lakiya Jenkins Board Member | Trustee | 2 | $0 |
Chardonnay Henderson Board 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 | $2,399,326 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,399,326 |
| Total Program Service Revenue | $675,945 |
| Investment income | $0 |
| 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 | $3,075,271 |
| 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 | $879,919 |
| Pension plan accruals and contributions | $38,837 |
| Other employee benefits | $117,928 |
| Payroll taxes | $70,536 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $88,940 |
| Advertising and promotion | $14,527 |
| Office expenses | $85,100 |
| Information technology | $38,109 |
| Royalties | $0 |
| Occupancy | $42,021 |
| Travel | $3,941 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,626 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,782 |
| Insurance | $12,033 |
| All other expenses | $0 |
| Total functional expenses | $1,579,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,677,748 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $527,237 |
| Accounts receivable, net | $203,245 |
| 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 | $23,084 |
| Net Land, buildings, and equipment | $1,123,333 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,554,647 |
| Accounts payable and accrued expenses | $143,516 |
| Grants payable | $0 |
| Deferred revenue | $29,967 |
| 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 | $21,564 |
| Total liabilities | $195,047 |
| Net assets without donor restrictions | $1,848,767 |
| Net assets with donor restrictions | $1,510,833 |
| 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 | $3,554,647 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Living Stones Academy has recieved totaling $743,829.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $172,142 |
Cdv5 Foundation Grand Rapids, MI PURPOSE: CAPITAL CAMPAIGN | $100,000 |
Douglas & Maria Devos Foundation Grand Rapids, MI PURPOSE: CAPITAL CAMPAIGN | $90,000 |
Douglas & Maria Devos Foundation Grand Rapids, MI PURPOSE: CAPITAL CAMPAIGN | $90,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $73,350 |
Grand Rapids Community Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $57,150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hillel Day School Of Metropolitan Detroit Farmington Hills, MI | $33,929,140 | $16,693,073 |
Heritage Christian Schools Inc Indianapolis, IN | $19,759,630 | $19,173,955 |
Academy Of Basic Education Inc Brookfield, WI | $40,498,539 | $16,384,035 |
Lake Ridge Academy North Ridgeville, OH | $14,038,501 | $14,431,885 |
Orchard School Foundation Inc Indianapolis, IN | $60,553,415 | $15,394,463 |
Oaks Academy Inc Indianapolis, IN | $7,476,421 | $17,454,996 |
Yeshiva Derech Hatorah Cleveland Heights, OH | $14,161,211 | $18,658,686 |
Old Trail School Bath, OH | $25,123,722 | $12,148,304 |
Madison Country Day School Inc Waunakee, WI | $14,581,268 | $10,698,482 |
Zeeland Christian School Zeeland, MI | $19,623,288 | $11,238,716 |
Kalamazoo Christian School Association Kalamazoo, MI | $19,698,055 | $12,128,711 |
Cornerstone Academy Community School Westerville, OH | $16,929,635 | $10,436,135 |