Tuscaloosa Academy Inc
- Assets
- $6.6m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 135
- Location
- Tuscaloosa, AL
- Founding
- 08/2003
- Data as of
- 06/2022
- EIN
- 63-0519291
Organization Overview
Tuscaloosa Academy Inc is located in Tuscaloosa, AL. The organization was established in 2003. 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 06/2022, Tuscaloosa Academy Inc employed 135 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tuscaloosa 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 06/2022, Tuscaloosa Academy Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $6.2m during the year ending 06/2022. While expenses have increased by 1.9% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION
Describe the Organization's Program Activity:
ALL PROGRAM SERVICES ARE FOR THE OPERATIONS AND MAINTENANCE OF TUSCALOOSA ACADEMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Barr Headmaster | Officer | 40 | $188,005 |
Jimmy Duncan Past Chairman | OfficerTrustee | 1 | $0 |
Reese Brooks Chairman | OfficerTrustee | 1 | $0 |
Lee Henderson Treasurer | OfficerTrustee | 0.2 | $0 |
Noel Amason Vice President | OfficerTrustee | 1 | $0 |
Robert Kuhn Trustee | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $391,792 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $467,792 |
| Total Program Service Revenue | $6,133,305 |
| Investment income | $24,792 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,871 |
| 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 | -$13,336 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,558,831 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,316,869 |
| Pension plan accruals and contributions | $64,700 |
| Other employee benefits | $132,699 |
| Payroll taxes | $240,524 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41,762 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,071 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,895 |
| Office expenses | $46,315 |
| Information technology | $83,257 |
| Royalties | $0 |
| Occupancy | $169,878 |
| Travel | $6,538 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $53,156 |
| Interest | $44,382 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $248,569 |
| Insurance | $7,422 |
| All other expenses | $268,260 |
| Total functional expenses | $6,216,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $780,495 |
| Savings and temporary cash investments | $1,343,371 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,648 |
| 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 | $84,242 |
| Net Land, buildings, and equipment | $3,852,134 |
| Investments—publicly traded securities | $486,095 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,243 |
| Total assets | $6,632,228 |
| Accounts payable and accrued expenses | $383,600 |
| 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 | $1,416,032 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,372,275 |
| Total liabilities | $3,171,907 |
| Net assets without donor restrictions | $3,088,652 |
| Net assets with donor restrictions | $371,669 |
| 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 | $6,632,228 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Tuscaloosa Academy Inc has recieved totaling $128,501.
| Awarding Organization | Amount |
|---|---|
Robert & Mary Cobb Family Foundation Birmingham, AL PURPOSE: EDUCATION | $100,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $10,100 |
Rjjb Family Foundation Mobile, AL PURPOSE: GENERAL OPERATING | $7,500 |
Miller Charitable Foundation Inc Brewton, AL PURPOSE: UNRESTRICTED CONTRIBUTION | $5,000 |
Reese Phifer Jr Memorial Foundation Tuscaloosa, AL PURPOSE: ANNUAL GIVING | $5,000 |
Leroy Mcabee Sr Family Foundation Tuscaloosa, AL PURPOSE: CHARITABLE CONTRIBUTION | $500 |
Endowment Analysis
| Beg. Balance | $297,336 |
| Earnings | -$26,625 |
| Other Expense | $7,531 |
| Ending Balance | $263,180 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Canterbury School Corporation Fort Myers, FL | $32,236,169 | $23,638,435 |
Brookstone School Inc Columbus, GA | $71,035,506 | $24,481,396 |
The Masters Academy Of Central Florida Inc Oviedo, FL | $26,482,967 | $18,246,673 |
Savannah Christian Preparatory School Inc Savannah, GA | $28,769,990 | $18,697,901 |
Saint Edwards School Vero Beach, FL | $54,149,022 | $17,250,987 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Republic Schools Inc Jackson, MS | $19,525,941 | $20,988,573 |
Strong Rock Christian School Inc Locust Grove, GA | $18,179,980 | $18,285,975 |
Fellowship Christian School Inc Roswell, GA | $48,536,188 | $18,034,878 |
St Pauls Episcopal School Mobile, AL | $26,189,566 | $16,422,172 |
Dubois Integrity Academy Inc Riverdale, GA | $36,435,666 | $18,797,787 |
William Monroe Rowlett Academy For Arts And Communication Bradenton, FL | $11,754,381 | $15,312,169 |