Amazing Grace Virtual Academy
- Assets
- $293.0k
- Revenue
- $265.6k
- Investments
- $0.0
- Employees
- 2
- Location
- New Ulm, MN
- Founding
- 02/2014
- Data as of
- 06/2024
- EIN
- 46-1419809
Organization Overview
Amazing Grace Virtual Academy is located in New Ulm, MN. The organization was established in 2014. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2024, Amazing Grace Virtual Academy employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Amazing Grace Virtual 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 06/2024, Amazing Grace Virtual Academy generated $265.6k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $262.5k during the year ending 06/2024. While expenses have increased by 11.8% per year over the past 5 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ONLINE COURSES THAT CHRISTIAN SCHOOLS CAN USE TO EXPAND THE COURSE OFFERINGS AVAILABLE TO STUDENTS. PROVIDE A COMPLETE HIGH SCHOOL CURRICULUM LEADING TO A HIGH SCHOOL DIPLOMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OFFER ONLINE HIGH SCHOOL COURSES TAUGHT FROM A SCRIPTURAL PERSPECTIVE TO WISCONSIN EVANGELICAL LUTHERAN SYNOD (WELS) AND EVANGELICAL LUTHERAN SYNOD (ELS) STUDENTS. FIFTY-ONE ONLINE COURSES WERE TAUGHT DURING THE 2023-24 SCHOOL YEAR. OVER 360 STUDENTS SERVED (INCLUDING TEN FULL-TIME STUDENTS), FROM 53 WELS/ELS SCHOOLS.
CREATE ONLINE COURSES THAT MEET THE NEEDS OF WELS AND ELS SCHOOLS TO EXPAND THEIR COURSE OFFERINGS. NINE NEW COURSES WERE CREATED IN 2023, MAKING NEARLY 60 COURSES AVAILABLE TO WELS/ELS SCHOOLS IN 2023-24. AN ESTIMATED SIX ADDITIONAL COURSES WILL BECOME AVAILABLE BY 2024-25.
TRAIN LUTHERAN TEACHERS QUALIFIED TO TEACH ONLINE COURSES FROM A SCRIPTURAL PERSPECTIVE. THREE NEW TEACHERS COMPLETED ONLINE TRAINING IN 2024. ESTIMATES ARE THAT 3 TO 6 NEW TEACHERS WILL COMPLETE TRAINING IN EACH OF THE NEXT 2 YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Grunwald Executive Director | Officer | 25 | $39,863 |
David Rust Superintendent/principal | Officer | 20 | $33,705 |
Scott Sievert Board Of Directors Vice-Chairman | OfficerTrustee | 0.5 | $0 |
Paul Patterson Board Of Directors Secretary | OfficerTrustee | 0.5 | $0 |
Peter Baganz Board Of Directors Treasurer | OfficerTrustee | 0.5 | $0 |
Gregory Bork Board Of Directors Member | Trustee | 0.5 | $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 | $1,803 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,803 |
| Total Program Service Revenue | $251,783 |
| Investment income | $11,968 |
| 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 | $265,554 |
| 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. | $77,798 |
| Compensation of current officers, directors, key employees. | $77,798 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,137 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $170,329 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $264 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,364 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,682 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,895 |
| All other expenses | $0 |
| Total functional expenses | $262,469 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $292,953 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $292,953 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $292,953 |
| 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 | $292,953 |