Morning Star Academy
- Assets
- $20.4m
- Revenue
- $947.0k
- Investments
- $0.0
- Employees
- 38
- Location
- Bonham, TX
- Founding
- 09/2011
- Data as of
- 06/2023
- EIN
- 45-1593367
Organization Overview
Morning Star Academy is located in Bonham, TX. 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 06/2023, Morning Star Academy employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morning Star 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 06/2023, Morning Star Academy generated $947.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $1.9m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.0%) 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
TRANSFORMING TOMORROW BY SHAPING HEARTS, GROWING MINDS AND EMPOWERING CHRIST-LIKE LEADERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MORNING STAR ACADEMY PROVIDES FAITH-BASED EDUCATION AND CHILDCARE SERVICES TO CHILDREN AGES 6 WEEKS THROUGH 8TH GRADE WITH A FULL-TIME DAYCARE AND PRESCHOOL FOR INFANTS AND TODDLERS, BEFORE AND AFTERSCHOOL CARE, SUMMER PROGRAMS AND A FULL-TIME ELEMENTARY SCHOOL THROUGH THE INTEGRATION OF BIBLICAL FAITH AND TRADITIONAL EDUCATION. THE SCHOOL HAD 60 STUDENTS ENROLLED DURING THE 2022/2023 ACADEMIC YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brandy Burns Head Of Scho | Officer | 40 | $83,816 |
Linda Cook Secretary/di | OfficerTrustee | 10 | $0 |
Carol Hendrix President/di | OfficerTrustee | 10 | $0 |
Cami Rutledge Director | Trustee | 10 | $0 |
James K Stevens Vp/treasurer | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $9,450 |
| Related organizations | $0 |
| Government grants | $532,045 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,190 |
| Noncash contributions included in lines 1a–1f | $1,900 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $560,685 |
| Total Program Service Revenue | $348,274 |
| Investment income | $55,784 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$17,967 |
| Net Income from Fundraising Events | -$2,228 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$96 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $947,005 |
| 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. | $98,671 |
| Compensation of current officers, directors, key employees. | $98,671 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $479,033 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,176 |
| Payroll taxes | $45,977 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,186 |
| Fees for services: Accounting | $13,699 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,886 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,189 |
| Office expenses | $23,949 |
| Information technology | $46,574 |
| Royalties | $0 |
| Occupancy | $256,132 |
| Travel | $4,399 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,465 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $768,714 |
| Insurance | $3,689 |
| All other expenses | $0 |
| Total functional expenses | $1,863,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $89,314 |
| Savings and temporary cash investments | $113,689 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $19,615,698 |
| Investments—publicly traded securities | $532,128 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,350,829 |
| Accounts payable and accrued expenses | $14,588 |
| Grants payable | $0 |
| Deferred revenue | $3,587 |
| 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 | $18,175 |
| Net assets without donor restrictions | $20,332,654 |
| 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 | $20,350,829 |