Providence Academy
- Assets
- $28.7k
- Revenue
- $367.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Parma, OH
- Founding
- 04/2019
- Data as of
- 06/2022
- EIN
- 83-0795310
Organization Overview
Providence Academy is located in Parma, OH. The organization was established in 2019. 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, Providence Academy employed 7 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 06/2022, Providence Academy generated $367.5k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 45.4% each year . All expenses for the organization totaled $388.4k during the year ending 06/2022. While expenses have increased by 42.8% per year over the past 3 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
CLASSICAL CHRISTIAN SCHOOL ENROLLING STUDENTS IN GRADES K-12
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE AS A CLASSICAL AND CHRISTIAN SCHOOL BY MAINTAINING A REGULARLY ENROLLED STUDENT BODY, ESTABLISH CURRICULUM, AND FULL-TIME FACULTY. 19 STUDENTS WERE ENROLLED IN GRADES K THROUGH 5 DURING 2022 FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ivan Bilskiy Chairman | OfficerTrustee | 3 | $0 |
Paul Yakovets Treasurer | OfficerTrustee | 3 | $0 |
Taras Bilskiy Director | Trustee | 3 | $0 |
Oleh Zhakunets Head Of School | Officer | 50 | $43,769 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $335 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $72,706 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $73,041 |
| Total Program Service Revenue | $294,473 |
| Investment income | $0 |
| 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 | $367,514 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $94,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $43,873 |
| Compensation of current officers, directors, key employees. | $8,775 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $133,880 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $878 |
| Payroll taxes | $19,004 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $690 |
| 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 | $5,595 |
| Advertising and promotion | $3,438 |
| Office expenses | $6,050 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,359 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,322 |
| Insurance | $569 |
| All other expenses | $6,410 |
| Total functional expenses | $388,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,043 |
| Savings and temporary cash investments | $500 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $21,204 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,747 |
| Accounts payable and accrued expenses | $8,017 |
| 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 | $31,500 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,765 |
| Total liabilities | $43,282 |
| Net assets without donor restrictions | $0 |
| 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 | -$14,535 |
| Total liabilities and net assets/fund balances | $28,747 |