Nonprofit · EIN 27-0533151
GRACE COVENANT ACADEMY
Tax-exempt (reinstated) · FRISCO, TX 75033
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| May 31, 2025 | 990 (amended) | $1,717,763 | $1,535,397 | $182,366 | $312,858 | $9,283 | $303,575 |
| December 31, 2024 | 990 | $1,717,763 | $1,535,397 | $182,366 | $312,858 | $9,283 | $303,575 |
| May 31, 2024 | 990 | $1,376,173 | $1,415,152 | -$38,979 | $124,263 | $0 | $124,263 |
| May 31, 2023 | 990 | $1,412,689 | $1,382,212 | $30,477 | $186,888 | $23,646 | $163,242 |
Financial details: 990 for the year ended May 31, 2025
Revenue
- Contributions, gifts and grants
- $91,304
- Program service revenue
- $1,626,169
- Investment income
- $290
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $134,610
- Other salaries and wages
- $857,869
- Salaries, compensation and benefits (total)
- $1,117,148
- Professional fundraising fees
- $0
- Legal fees
- $1,000
- Accounting fees
- $12,916
- Occupancy
- $84,439
- Travel
- $1,294
- Program services (functional)
- $1,373,487
- Management and general (functional)
- $157,389
- Fundraising (functional)
- $4,521
Balance sheet and other
- Total assets, start of year
- $124,263
- Total assets, end of year
- $312,858
- Total liabilities, end of year
- $9,283
- Net assets, end of year
- $303,575
- Land, buildings and equipment
- $36,834
- Net assets without donor restrictions
- $303,575
- Gross receipts
- $1,717,763
- Employees
- 57
- Volunteers
- 20
- Year formed
- 2009
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended May 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| AMY SMITH | Secretary Trustee or director, Officer | 40 | $64,948 | $26,183 |
| BRIAN P SMITH | President Trustee or director, Officer | 40 | $68,028 | $3,654 |
| JOHN S EIBEL | Board Member Trustee or director | 10 | $5,192 | $0 |
990 for the year ended December 31, 2024: 3 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| AMY SMITH | Secretary Trustee or director, Officer | 40 | $64,948 | $26,183 |
| BRIAN P SMITH | President Trustee or director, Officer | 40 | $68,028 | $3,654 |
| JOHN S EIBEL | Board Member Trustee or director | 10 | $5,192 | $0 |
990 for the year ended May 31, 2024: 2 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Amy Smith | Director Trustee or director, Officer | 40 | $74,713 | $26,183 |
| Brian Smith | Executive Dir. Trustee or director, Officer | 40 | $69,085 | $3,654 |
990 for the year ended May 31, 2023: 2 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Amy Smith | Director Trustee or director, Officer | 40 | $70,741 | $23,054 |
| Brian Smith | Executive Dir. Trustee or director, Officer | 40 | $65,338 | $3,268 |
Address and contacts
- Address (IRS master file)
- 8000 SANCTUARY DR, FRISCO, TX 75033-2790
- In care of
- % BRIAN SMITH
- Principal officer (990 for 2024)
- Brian P Smith, 8000 Sanctuary Drive, Frisco, TX 75033
- Signed the 990
- BRIAN SMITH, Exec Director
- Phone
- (469) 734-6466
- Return prepared by
- Hawk Tax Solutions LLC
Mission
To assist and coach Christian parents in educating their children in a gospel-centered, academically excellent environment, teaching students to view all things through God's Word, cultivate a love for Him, apply His truth, and make His name known in the world.
Program accomplishments
- Provides academic instruction and classroom education services to enrolled students, including core curriculum & instructional support.Expenses $1,026,671 · revenue $1,421,421
- Supports student enrollment and admissions activities, including application processing, registration, and student onboarding necessary to deliver educational instruction and programs.Expenses $41,067 · revenue $79,276
- Provides extracurricular and student enrichment programs, including athletics, student activities, field trips, & supplemental educational programs that support student development and enhance the educational experience.Expenses $136,889 · revenue $88,585
- Provides student life & enrichment programs including field trips, student activities, & meal services that support student development.Expenses $164,267 · revenue $36,887
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in May, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | May 31, 2026 | October 15, 2026 | Not on file |
| 2024 | May 31, 2025 | October 15, 2025 | 990 on file |
| 2023 | May 31, 2024 | October 15, 2024 | 990 on file |
IRS record
- EIN
- 27-0533151
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2014
- Accounting year ends
- May
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B20)
- Assets (IRS master file)
- $312,858
- Income (IRS master file)
- $1,717,763
Revocation and reinstatement
- Exemption revoked
- November 15, 2012
- Posted by the IRS
- March 11, 2013
- Reinstated
- Effective November 15, 2012
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | May 2025 | – | – | – | IRS |
| 990 | December 2024 | – | – | – | IRS |
| 990 | May 2024 | – | – | – | IRS |
| 990 | May 2023 | $1,412,689 | $1,382,212 | $186,888 | IRS |
| 990 | May 2022 | $1,140,162 | $1,032,340 | $154,195 | IRS |
| 990 | May 2021 | – | – | – | IRS |
| 990 | May 2020 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about GRACE COVENANT ACADEMY
- What is the EIN of GRACE COVENANT ACADEMY?
- The employer identification number (EIN) of GRACE COVENANT ACADEMY is 27-0533151.
- Is GRACE COVENANT ACADEMY tax-exempt?
- Yes. The IRS revoked its exemption on November 15, 2012 and reinstated it effective November 15, 2012.
- Are donations to GRACE COVENANT ACADEMY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GRACE COVENANT ACADEMY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GRACE COVENANT ACADEMY due?
- The return for tax year 2025 (the year ending May 31, 2026) is due October 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GRACE COVENANT ACADEMY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended May 2025.
- Who is the principal officer of GRACE COVENANT ACADEMY?
- The 990 for the year ended May 31, 2025 names Brian P Smith.
- Who are the officers and directors of GRACE COVENANT ACADEMY?
- The 990 for the year ended May 31, 2025 lists 3 people; 3 received compensation from the organization, the highest $64,948 (AMY SMITH, Secretary).
- How much revenue does GRACE COVENANT ACADEMY have?
- On its 990 for the year ended May 31, 2025 it reported revenue of $1,717,763, expenses of $1,535,397 and total assets of $312,858 at year end.
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