Laurens Academy Inc
- Assets
- $4.3m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 38
- Location
- Laurens, SC
- Founding
- 01/1996
- Data as of
- 06/2024
- EIN
- 57-1028384
Organization Overview
Laurens Academy Inc is located in Laurens, SC. The organization was established in 1996. 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 06/2024, Laurens Academy Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laurens 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 06/2024, Laurens Academy Inc generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $1.9m during the year ending 06/2024. While expenses have increased by 6.6% per year over the past 6 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
LAURENS ACADEMY, INC. PROVIDES A SAFE, SECURE ENVIRONMENT THAT WILL ENHANCE EACH STUDENT'S OPPORTUNITY TO DEVELOP TO HIS OR HER HIGHEST POTENTIAL ACADEMICALLY, EMOTIONALLY, PHYSICALLY, SOCIALLY, AND SPIRITUALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUNCHROOM
OTHER PROGRAM RELATED EXPENSES
EDUCATIONAL
OTHER PROGRAM RELATED EXPENSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Kirk Headmaster | Officer | 40 | $48,685 |
Karla Frey Trustee/dire | Trustee | $0 | |
Andy Howard Trustee/dire | Trustee | $0 | |
Ben Irwin Trustee/dire | Trustee | $0 | |
Lee Little Trustee/dire | Trustee | $0 | |
Elizabeth Merlin Trustee/dire | Trustee | $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 | $370,173 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $370,173 |
| Total Program Service Revenue | $2,183,345 |
| Investment income | $3,849 |
| 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 | $2,557,367 |
| 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. | $48,685 |
| Compensation of current officers, directors, key employees. | $7,303 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $675,843 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,086 |
| Payroll taxes | $199,039 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,796 |
| 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 | $17,790 |
| 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 | $0 |
| Interest | $67,460 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $382,775 |
| Insurance | $43,315 |
| All other expenses | $488,253 |
| Total functional expenses | $1,948,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,774 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $214,917 |
| 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 | $3,722,766 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $40,047 |
| Other assets | $0 |
| Total assets | $4,334,504 |
| Accounts payable and accrued expenses | $62,447 |
| 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 | $2,159,675 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,384 |
| Total liabilities | $2,229,506 |
| Net assets without donor restrictions | $2,104,998 |
| 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 | $4,334,504 |