Providence Academy
- Assets
- $13.3m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 129
- Location
- Johnson City, TN
- Founding
- 10/1995
- Data as of
- 06/2021
- EIN
- 62-1564142
Organization Overview
Providence Academy is located in Johnson City, TN. The organization was established in 1995. 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 06/2021, Providence Academy employed 129 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 06/2021, Providence Academy generated $5.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $5.3m during the year ending 06/2021. While expenses have increased by 5.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EQUIP STUDENTS TO ACHIEVE ACADEMIC EXCELLENCE AND SPIRITUAL MATURITY THROUGH A BIBLICALLY BASED, CHRIST-CENTERED, CLASSICAL EDUCATION SO THEY WILL THINK AND LIVE IN A MANNER WHICH BRINGS GLORY TO GOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A NOT FOR PROFIT EDUCATIONAL FACILITY, PROVIDING EDUCATION TO STUDENTS IN GRADES PK-12.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Holland Head Of School | Officer | 40 | $98,582 |
Matt Jones Secretary | OfficerTrustee | 1 | $0 |
Rex Garrison Chairman | OfficerTrustee | 1 | $0 |
Bj Smith Vice-Chairman | OfficerTrustee | 1 | $0 |
Earle Chute Board Member | Trustee | 1 | $0 |
Mark Hecht Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $445,281 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $737,929 |
| Noncash contributions included in lines 1a–1f | $64,919 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,183,210 |
| Total Program Service Revenue | $4,296,001 |
| Investment income | $1,972 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $59,562 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,540,745 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $389,083 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $124,756 |
| Compensation of current officers, directors, key employees. | $23,805 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,767,846 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $232,734 |
| Payroll taxes | $225,165 |
| 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 | $0 |
| Fees for services: Other | $29,503 |
| Advertising and promotion | $8,568 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $84,632 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $46,472 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $301,216 |
| Insurance | $29,706 |
| All other expenses | $144,364 |
| Total functional expenses | $5,260,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,993,212 |
| Pledges and grants receivable | $95,230 |
| Accounts receivable, net | $3,183,162 |
| 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 | $85,627 |
| Net Land, buildings, and equipment | $6,933,311 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,688 |
| Total assets | $13,298,230 |
| Accounts payable and accrued expenses | $211,594 |
| Grants payable | $0 |
| Deferred revenue | $4,207,892 |
| 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 | $1,042,921 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $316,040 |
| Total liabilities | $5,778,447 |
| Net assets without donor restrictions | $6,762,064 |
| Net assets with donor restrictions | $757,719 |
| 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 | $13,298,230 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Providence Academy has recieved totaling $252,567.
| Awarding Organization | Amount |
|---|---|
Mary Waterhouse Tr Oak Ridge, TN PURPOSE: PROGRAM SUPPORTPROGRAM SUPPORT | $100,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $78,410 |
Mantz Foundation Inc Ocala, FL PURPOSE: GENERAL PURPOSE | $31,500 |
Tweed Family Foundation Inc Greeneville, TN PURPOSE: GENERAL SUPPORT | $22,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $20,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $657 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Delta Inc Helena, AR | $23,299,418 | $20,055,239 |
Hope Educational & Research Center St Louis, MO | $196,443,117 | $45,382,338 |
Louisville Collegiate School Louisville, KY | $44,243,091 | $19,424,992 |
Pulaski Academy Little Rock, AR | $31,968,373 | $17,811,246 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Kentucky Country Day School Inc Louisville, KY | $45,327,857 | $17,940,550 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Episcopal Collegiate School Little Rock, AR | $113,498,551 | $17,410,081 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Republic Schools Inc Jackson, MS | $19,525,941 | $20,988,573 |