Patrick Henry Academy Inc
- Assets
- $2.8m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 44
- Location
- Estill, SC
- Founding
- 03/1997
- Data as of
- 05/2023
- EIN
- 57-0473017
Organization Overview
Patrick Henry Academy Inc is located in Estill, SC. The organization was established in 1997. 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 05/2023, Patrick Henry Academy Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Patrick Henry Academy Inc 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 05/2023, Patrick Henry Academy Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $1.9m during the year ending 05/2023. While expenses have increased by 6.8% per year over the past 8 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
PATRICK HENRY ACADEMY, INC. IS A COLLEGE PREPARATORY SCHOOL WHICH PROVIDES A SAFE, FAMILY-ORIENTED ATMOSPHERE WHILE GUIDING STUDENTS TO BE CONTRIBUTING MEMBERS OF SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FOR 2020-2021 SCHOOL YEAR INCLUDING GRADES K3-12. PROVIDED FOR THE DISADVANTAGED STUDENTS USING SCHOLARSHIP FUNDS. UPGRADED FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bonnie Wilson Director Of Administration | 40 | $63,000 | |
Russell Bullard Director | Trustee | 1 | $0 |
Marc Priester Director | Trustee | 1 | $0 |
Nash Elliott Vice President | Trustee | 1 | $0 |
Tripp Lawton Finance | Trustee | 1 | $0 |
Chad Westendorf President | Trustee | 1 | $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 | $150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150 |
| Total Program Service Revenue | $1,935,762 |
| Investment income | $1,173 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,010 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,941,095 |
| 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. | $63,000 |
| Compensation of current officers, directors, key employees. | $63,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $974,516 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $79,761 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,725 |
| 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 | $20,524 |
| Information technology | $71,766 |
| Royalties | $0 |
| Occupancy | $32,102 |
| Travel | $1,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,760 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,452 |
| Insurance | $27,820 |
| All other expenses | $69,197 |
| Total functional expenses | $1,908,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $203,954 |
| Savings and temporary cash investments | $962,774 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $132,099 |
| 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 | $1,511,277 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $2,810,105 |
| Accounts payable and accrued expenses | $152,094 |
| Grants payable | $0 |
| Deferred revenue | $33,514 |
| 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 | $185,608 |
| Net assets without donor restrictions | $2,411,693 |
| Net assets with donor restrictions | $212,804 |
| 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 | $2,810,105 |