Providence Academy
- Assets
- $4.9m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 64
- Location
- Leesburg, VA
- Founding
- 06/2014
- Data as of
- 06/2023
- EIN
- 46-2618464
Organization Overview
Providence Academy is located in Leesburg, VA. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2023, Providence Academy employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Providence 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, Providence Academy generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.4% each year . All expenses for the organization totaled $3.8m during the year ending 06/2023. While expenses have increased by 16.3% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF PROVIDENCE ACADEMY IS "UNCOMPROMISING EXCELLENCE IN EDUCATING AND EQUIPPING STUDENTS WITH TRUTH."
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIVATE, INDEPENDENT CHRISTIAN SCHOOL PROVIDES EDUCATIONAL OPPORTUNITIES TO STUDENTS FROM PRE-KINDERGARTEN THROUGH EIGHTH GRADE UNDER A CAPABLE AND DEDICATED FACULTY. THE STUDENTS ARE EDUCATED TO MEET THE FUTURE WITH SKILL, CONFIDENCE, DETERMINATION, AND GENEROSITY OF SPIRIT. DURING THE 2022/2023 SCHOOL YEAR, PROVIDENCE ACADEMY WORKED WITH 257 STUDENTS, PROVIDING FINANCIAL AID OF 14.8% OF TUITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rex Stover Board President | OfficerTrustee | 8 | $0 |
Paul G Miller Board Treasurer | OfficerTrustee | 5 | $0 |
Ken Fleming Board Secretary | OfficerTrustee | 2 | $0 |
Mike Miller Director | Trustee | 2 | $0 |
Tim Reichert Board Vice President | OfficerTrustee | 2 | $0 |
Laura Riviere Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $120,015 |
| All other contributions, gifts, grants, and similar amounts not included above | $459,108 |
| Noncash contributions included in lines 1a–1f | $22,434 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $579,123 |
| Total Program Service Revenue | $3,651,058 |
| Investment income | $44,842 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $257 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,276,008 |
| 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. | $263,405 |
| Compensation of current officers, directors, key employees. | $52,681 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,157,319 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $157,861 |
| Payroll taxes | $169,119 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,825 |
| Fees for services: Accounting | $11,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,320 |
| Advertising and promotion | $24,779 |
| Office expenses | $14,616 |
| Information technology | $79,018 |
| Royalties | $0 |
| Occupancy | $560,663 |
| Travel | $4,539 |
| 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 | $39,823 |
| Insurance | $0 |
| All other expenses | $39,624 |
| Total functional expenses | $3,775,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $177,415 |
| Savings and temporary cash investments | $471,920 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $203,798 |
| 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 | $71,642 |
| Net Land, buildings, and equipment | $86,715 |
| Investments—publicly traded securities | $1,719,964 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,152,284 |
| Total assets | $4,883,738 |
| Accounts payable and accrued expenses | $313,096 |
| Grants payable | $0 |
| Deferred revenue | $1,391,562 |
| 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 | $2,069,537 |
| Total liabilities | $3,774,195 |
| Net assets without donor restrictions | $958,856 |
| Net assets with donor restrictions | $150,687 |
| 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 | $4,883,738 |