New Hope Academy
- Assets
- $4.4m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 59
- Location
- Franklin, TN
- Founding
- 11/1996
- Data as of
- 06/2022
- EIN
- 63-1172489
Organization Overview
New Hope Academy is located in Franklin, TN. 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 06/2022, New Hope Academy employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope 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 06/2022, New Hope Academy generated $5.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $4.4m during the year ending 06/2022. While expenses have increased by 1.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CHRIST-CENTERED SCHOOL EDUCATING CHILDREN OF DIVERSE RACIAL & SOCIOECONOMIC BACKGROUNDS BY ESTABLISHING A BIBLICAL WORLDVIEW & PREPARING EACH CHILD TO FLOURISH ACADEMICALLY, EMOTIONALLY, SOCIALLY & SPIRITUALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW HOPE ACADEMY IS A PRIVATE, COEDUCATIONAL, CHRIST-CENTERED SCHOOL FOR PRE-KINDERGARTEN THROUGH 6TH GRADE STUDENTS, LOCATED IN FRANKLIN, TN. THROUGH OUR COMMITMENT TO EDUCATIONAL EXCELLENCE, WE TRANSFORM CHILDREN INTO LIFE-LONG LEARNERS, HANDS-ON PROBLEM SOLVERS, PURE WORSHIPERS,AND WORLD-CHANGERS - CHILDREN STEEPED IN KNOWLEDGE, WISDOM, AND UNDERSTANDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cady Wilson Interim Head | Officer | 40 | $60,600 |
Katherine Wilson Business Man | Officer | 24 | $40,800 |
Ronnie Williams Chairman | OfficerTrustee | 1 | $0 |
Susan Smallwood Vice-Chairma | OfficerTrustee | 1 | $0 |
Chris Jenkins Treasurer | OfficerTrustee | 1 | $0 |
Paige Pitts Founder | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $314,504 |
| Related organizations | $0 |
| Government grants | $900,007 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,662,865 |
| Noncash contributions included in lines 1a–1f | $25,777 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,877,376 |
| Total Program Service Revenue | $2,838,920 |
| Investment income | $6,651 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,950 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $28,802 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $873 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,778,572 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,538,214 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,400 |
| Compensation of current officers, directors, key employees. | $25,350 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,620,031 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $178,887 |
| Payroll taxes | $110,899 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $80 |
| Fees for services: Accounting | $19,078 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,563 |
| Fees for services: Other | $41,000 |
| Advertising and promotion | $39,249 |
| Office expenses | $125,708 |
| Information technology | $5,921 |
| Royalties | $0 |
| Occupancy | $246,899 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $941 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $81,336 |
| Insurance | $9,855 |
| All other expenses | $0 |
| Total functional expenses | $4,418,492 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,304 |
| Savings and temporary cash investments | $1,768,108 |
| Pledges and grants receivable | $281,000 |
| Accounts receivable, net | $6,514 |
| 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 | $1,554,355 |
| Investments—publicly traded securities | $583,300 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $147,602 |
| Total assets | $4,387,183 |
| Accounts payable and accrued expenses | $46,729 |
| Grants payable | $0 |
| Deferred revenue | $35,115 |
| 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 | $23,575 |
| Total liabilities | $105,419 |
| Net assets without donor restrictions | $1,893,541 |
| Net assets with donor restrictions | $2,388,223 |
| 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 | $4,387,183 |