Kings Academy Inc
- Assets
- $77.8m
- Revenue
- $45.8m
- Investments
- $12.7m
- Employees
- 456
- Location
- West Palm Beach, FL
- Founding
- 12/1970
- Data as of
- 06/2023
- EIN
- 59-1298881
Organization Overview
Kings Academy Inc is located in West Palm Beach, FL. The organization was established in 1970. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Kings Academy Inc employed 456 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kings 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 06/2023, Kings Academy Inc generated $45.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $41.9m during the year ending 06/2023. While expenses have increased by 8.8% 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
EDUCATION - NON-PROFIT CHRISTIAN SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMPREHENSIVE EDUCATION PROGRAM - PRESCHOOL THROUGH GRADE TWELVE, SERVING APPROXIMATELY 1,650 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Rasmussen Chair | OfficerTrustee | 1 | $0 |
Eric Engstrom Vice Chair/treasurer | OfficerTrustee | 1 | $0 |
Meg Percy Secretary | OfficerTrustee | 1 | $0 |
Jerry Y Bell Director | Trustee | 1 | $0 |
Dr Clyde S Meckstroth Director | Trustee | 1 | $0 |
David Dreyer Director | 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 | $5,840,216 |
| Noncash contributions included in lines 1a–1f | $41,732 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,840,216 |
| Total Program Service Revenue | $39,614,759 |
| Investment income | $367,422 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$333,573 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $280,138 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,768,962 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,270,182 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $833,307 |
| Compensation of current officers, directors, key employees. | $389,213 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,244,946 |
| Pension plan accruals and contributions | $639,313 |
| Other employee benefits | $1,061,599 |
| Payroll taxes | $942,915 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $65,253 |
| Fees for services: Other | $0 |
| Advertising and promotion | $65,676 |
| Office expenses | $276,906 |
| Information technology | $263,965 |
| Royalties | $0 |
| Occupancy | $4,242,945 |
| Travel | $237,895 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $565,791 |
| Interest | $700,172 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,619,461 |
| Insurance | $740,959 |
| All other expenses | $0 |
| Total functional expenses | $41,895,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,622,357 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,746,533 |
| Accounts receivable, net | $58,750 |
| Loans from Officers, Directors, or Controlling Persons | $5,312 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $626,249 |
| Prepaid expenses and deferred charges | $323,220 |
| Net Land, buildings, and equipment | $53,527,048 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $12,745,662 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $97,002 |
| Total assets | $77,752,133 |
| Accounts payable and accrued expenses | $3,183,591 |
| Grants payable | $0 |
| Deferred revenue | $10,753,132 |
| Tax-exempt bond liabilities | $13,066,236 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,547,571 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $217,002 |
| Total liabilities | $29,767,532 |
| Net assets without donor restrictions | $33,163,987 |
| Net assets with donor restrictions | $14,820,614 |
| 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 | $77,752,133 |