Faithful Academy Inc
- Assets
- $117.5k
- Revenue
- $380.9k
- Investments
- $0.0
- Employees
- 13
- Location
- Beaumont, TX
- Founding
- 12/2019
- Data as of
- 06/2021
- EIN
- 84-2372408
Organization Overview
Faithful Academy Inc is located in Beaumont, TX. The organization was established in 2019. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2021, Faithful Academy Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faithful 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 06/2021, Faithful Academy Inc generated $380.9k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 33.2% each year . All expenses for the organization totaled $287.1k during the year ending 06/2021. While expenses have increased by 10.7% per year over the past 2 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 PROVIDE AN ALTERNATIVE SCHOOLING METHOD FOR HOMESCHOOLED STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUTORING FEES INCLUDE REGISTRATION FEE, SUPPLY FEE AND MONTHLY PAYMENTS.TOTAL ENROLLMENT: 27 STUDENTS.CLASSES 8 HOURS PER DAY, 4 DAYS PER WEEK.APPROXIMATELY 152 CLASS DAYS, INCLUDING ONLINE CLASSES AFTER COVID 19 SHUT DOWN. READING PROGRAM FEES FOR WALK IN STUDENTS.TOTAL ENROLLMENT: 6 WALK IN STUDENTS.1 HOUR INDIVIDUAL SESSIONS, 2 DAYS PER WEEK. TUTORING FEES INCLUDE REGISTRAATION FEE, SUPPLY FEE AND MONTHLY PAYMENTS.TOTAL ENROLLMENT : 38 STUDENTSCLASSES8 HOURS PER DAY, 4 DAYS PER WEEK READING PROGRAM FEES FOR WALK IN STUDENTS.TOTAL ENROLLMENT: 2 WALK IN STUDENTS.1 HOUR INDIVIDUAL SESSIONS, 2 DAYS PER WEEK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Brimm Board Of Directors - Treasure | OfficerTrustee | 8 | $0 |
David White Board Directors - Vice Presid | OfficerTrustee | 2 | $0 |
Michelle Miller Board Of Directors - Presiden | OfficerTrustee | 8 | $0 |
Rhonda Sparks Executive Director | Officer | 50 | $0 |
Catherine Radford Officer - Secretary | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $7 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,712 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,719 |
| Total Program Service Revenue | $337,424 |
| 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 | $380,935 |
| 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. | $72,500 |
| Compensation of current officers, directors, key employees. | $29,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $89,112 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,772 |
| 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 | $0 |
| Advertising and promotion | $1,442 |
| Office expenses | $5,948 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $81,122 |
| 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 | $0 |
| Insurance | $1,673 |
| All other expenses | $2,685 |
| Total functional expenses | $287,088 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,508 |
| Savings and temporary cash investments | $33,219 |
| 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 | $46,799 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $117,526 |
| Accounts payable and accrued expenses | $2,252 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,252 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $29,604 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $85,670 |
| Total liabilities and net assets/fund balances | $117,526 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Faithful Academy Inc has recieved totaling $1,608.
| Awarding Organization | Amount |
|---|---|
Talley Bryan Foundation Morganton, NC PURPOSE: FURTHER ORGANIZATIONS CHARITABLE PURPOSE | $1,560 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $48 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Firstline Schools Inc New Orleans, LA | $25,158,781 | $60,437,770 |
Education Service Center Region Xii Of Texas Waco, TX | $21,686,581 | $37,093,935 |
New Meridian Corporation Austin, TX | $22,335,966 | $20,374,244 |
Belle Chasse Academy Inc Belle Chasse, LA | $29,416,847 | $17,545,847 |
Village Tech Schools Duncanville, TX | $32,290,922 | $14,785,373 |
Bexar County Performing Arts Center Foundation San Antonio, TX | $183,646,136 | $8,087,390 |
Leading Educators Inc New Orleans, LA | $10,160,201 | $9,461,961 |
Hispanic Association Of Colleges And Universities San Antonio, TX | $14,909,180 | $14,551,149 |
Passages America Israel Inc Allen, TX | $8,997,691 | $7,060,714 |
Extend-A-Care Inc Austin, TX | $4,350,683 | $9,102,758 |
Educate Girls Austin, TX | $42,960,470 | $14,126,525 |
Evolution Acadamy Richardson, TX | $15,542,643 | $6,925,248 |