Freeman Academy & Freeman Junior College
- Assets
- $5.1m
- Revenue
- $2.2m
- Investments
- $419.0k
- Employees
- 59
- Location
- Freeman, SD
- Founding
- 11/1937
- Data as of
- 06/2022
- EIN
- 46-0229820
Organization Overview
Freeman Academy & Freeman Junior College is located in Freeman, SD. The organization was established in 1937. 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 06/2022, Freeman Academy & Freeman Junior College employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freeman Academy & Freeman Junior College 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 06/2022, Freeman Academy & Freeman Junior College generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $1.9m during the year ending 06/2022. While expenses have increased by 3.4% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FAITH INSPIRED LEARNING FOR LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DAYCARE AND GRADES K-12 CHRISTIAN EDUCATIONAL PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nathan Epp Head Of Scho | Officer | 40 | $60,204 |
Jarrod Preheim Secretary | OfficerTrustee | 1.5 | $0 |
Lee Brockmueller President | OfficerTrustee | 1.5 | $0 |
Anne Waltner Vice Preside | OfficerTrustee | 1.5 | $0 |
Matt Miller Director | Trustee | 1.5 | $0 |
Cathy Roesler Director | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $346,967 |
| All other contributions, gifts, grants, and similar amounts not included above | $647,419 |
| Noncash contributions included in lines 1a–1f | $71,550 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $994,386 |
| Total Program Service Revenue | $812,290 |
| Investment income | $106,066 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,230 |
| Net Income from Fundraising Events | $283,056 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,194,568 |
| 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. | $85,779 |
| Compensation of current officers, directors, key employees. | $75,247 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $936,624 |
| Pension plan accruals and contributions | $28,102 |
| Other employee benefits | $156,918 |
| Payroll taxes | $75,493 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,420 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $273 |
| Office expenses | $29,856 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $84,181 |
| Travel | $0 |
| 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 | $167,149 |
| Insurance | $30,623 |
| All other expenses | $120,844 |
| Total functional expenses | $1,943,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $686,978 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71,492 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $91,250 |
| Prepaid expenses and deferred charges | $3,785 |
| Net Land, buildings, and equipment | $3,147,232 |
| Investments—publicly traded securities | $694,862 |
| Investments—other securities | $419,029 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,114,628 |
| Accounts payable and accrued expenses | $112,601 |
| Grants payable | $108,001 |
| Deferred revenue | $21,898 |
| 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 | $110,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,178 |
| Total liabilities | $364,678 |
| Net assets without donor restrictions | $3,817,032 |
| Net assets with donor restrictions | $932,918 |
| 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 | $5,114,628 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Freeman Academy & Freeman Junior College has recieved totaling $7,822.
| Awarding Organization | Amount |
|---|---|
South Dakota Community Foundation Pierre, SD PURPOSE: Education | $7,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $322 |
Endowment Analysis
| Beg. Balance | $538,657 |
| Earnings | -$97,355 |
| Admin Expense | $4,213 |
| Net Contributions | $12,052 |
| Other Expense | $440,508 |
| Ending Balance | $497,029 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Duluth Public Schools Academy Duluth, MN | $11,300,582 | $19,293,947 |
Providence Academy Plymouth, MN | $90,830,285 | $18,450,860 |
Community Of Peace Academy St Paul, MN | $12,629,735 | $12,830,320 |
Des Moines Christian School Urbandale, IA | $33,454,159 | $19,777,183 |
New Millennium Academy Brooklyn Center, MN | $9,494,362 | $13,749,517 |
Tiospa Zina Tribal School Agency Village, SD | $23,159,499 | $11,778,835 |
Marty Indian School Board Inc Marty, SD | $22,784,414 | $13,798,378 |
Hope Community Academy St Paul, MN | $7,239,866 | $9,388,548 |
Tri-County Child And Family Development Council Inc Waterloo, IA | $2,164,616 | $9,342,746 |
Brownell Talbot School Omaha, NE | $23,640,010 | $10,050,600 |
Legacy Christian Academy Andover, MN | $11,285,035 | $10,599,224 |
Spero Academy Minneapolis, MN | $4,864,005 | $8,619,763 |