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Grace Covenant Academy

  • Frisco, TX
  • Tax-exempt since Sept. 2014
  • EIN: 27-0533151

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Elementary, Secondary Education, K - 12 (NTEE)

Donations to this organization are tax deductible.

Details

According to its May 2023 tax filing, this nonprofit:

Operated a school
Organization is a school. Details are reported on Schedule E.

Summary charts: organization finances over time

Revenue
$1.41M (2023)

Expenses
$1.38M (2023)

Total Assets
$187k (2023)

Total Liabilities
$23.6k (2023)

Years with missing data
Source: Form 990 tax filings from 2010 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending May
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,412,689
Expenses
$1,382,212
Net Income
$30,477
Net Assets
$163,242
Notable Sources of Revenue Percent of Total Revenue
Contributions $183,631
13.0%
Program Services $1,208,002
85.5%
Investment Income $164
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $4,999
0.4%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $15,893
1.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $162,401
11.7%
Professional Fundraising Fees $0
Other Salaries and Wages $744,657
53.9%
Assets/Debt
Total Assets $186,888
Total Liabilities $23,646
Net Assets $163,242
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Amy Smith (Director) $70,741 $0 $23,054
Brian Smith (Executive Dir.) $65,338 $0 $3,268

Document Links

990
Filed on March 15, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending May
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,140,162
Expenses
$1,032,340
Net Income
$107,822
Net Assets
$76,247
Notable Sources of Revenue Percent of Total Revenue
Contributions $40,394
3.5%
Program Services $1,077,751
94.5%
Investment Income $19
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $21,909
1.9%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $89
0.0%
Notable Expenses Percent of Total Expenses
Executive Compensation $122,764
11.9%
Professional Fundraising Fees $0
Other Salaries and Wages $592,597
57.4%
Assets/Debt
Total Assets $154,195
Total Liabilities $77,948
Net Assets $76,247
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Amy Smith (Director) $79,330 $0 $0
Brian Smith (Executive Dir.) $43,434 $0 $0
Bob Hughes (Trustee) $0 $0 $0
Brian Webster (Trustee) $0 $0 $0
Fred Shaw (Trustee) $0 $0 $0
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Document Links

990
Filed on April 19, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending May
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$905,888
Expenses
$839,587
Net Income
$66,301
Net Assets
$78,822
Notable Sources of Revenue Percent of Total Revenue
Contributions $97,647
10.8%
Program Services $784,179
86.6%
Investment Income $29
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $24,033
2.7%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $105,000
12.5%
Professional Fundraising Fees $0
Other Salaries and Wages $483,840
57.6%
Assets/Debt
Total Assets $151,771
Total Liabilities $72,949
Net Assets $78,822
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Amy Smith (Director) $65,000 $0 $0
Brian Smith (Executive Dir.) $40,000 $0 $0
Bob Hughes (Trustee) $0 $0 $0
Brian Webster (Trustee) $0 $0 $0
Fred Shaw (Trustee) $0 $0 $0
+ View more people

Document Links

990
Filed on March 22, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending May
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$861,875
Expenses
$847,987
Net Income
$13,888
Net Assets
$12,521
Notable Sources of Revenue Percent of Total Revenue
Contributions $16,943
2.0%
Program Services $812,588
94.3%
Investment Income $212
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $32,132
3.7%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $105,100
12.4%
Professional Fundraising Fees $0
Other Salaries and Wages $480,256
56.6%
Assets/Debt
Total Assets $179,258
Total Liabilities $166,737
Net Assets $12,521
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Brian Smith (Executive Dir.) $60,050 $0 $0
Amy Smith (Director) $45,050 $0 $0
Bob Hughes (Trustee) $0 $0 $0
Brian Webster (Trustee) $0 $0 $0
Fred Shaw (Trustee) $0 $0 $0
+ View more people

Document Links

990
Filed on March 22, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending May
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$862,031
Expenses
$851,115
Net Income
$10,916
Net Assets
-$1,265
Notable Sources of Revenue Percent of Total Revenue
Contributions $11,417
1.3%
Program Services $821,889
95.3%
Investment Income $762
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $27,963
3.2%
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $102,000
12.0%
Professional Fundraising Fees $0
Other Salaries and Wages $462,256
54.3%
Assets/Debt
Total Assets $207,654
Total Liabilities $208,919
Net Assets -$1,265
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Brian Smith (Executive Dir.) $60,000 $0 $0
Amy Smith (Director) $42,000 $0 $0
Bob Hughes (Trustee) $0 $0 $0
Brian Webster (Trustee) $0 $0 $0
Fred Shaw (Trustee) $0 $0 $0
+ View more people

Document Links

990
Filed on April 15, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending May
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$582,731
Expenses
$568,967
Net Income
$13,764
Net Assets
$36,574
Notable Sources of Revenue Percent of Total Revenue
Contributions $51,852
8.9%
Program Services $530,879
91.1%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $60,000
10.5%
Professional Fundraising Fees $0
Other Salaries and Wages $302,569
53.2%
Assets/Debt
Total Assets $44,525
Total Liabilities $7,951
Net Assets $36,574
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Brian Smith (Head Of Scho) $60,000 $0 $0
Amy Smith (Elementary P) $35,000 $0 $0
Bob Hughes (Board Member) $0 $0 $0
Brian Webster (Board Member) $0 $0 $0
Fred Shaw (Board Member) $0 $0 $0
+ View more people

Document Links

990
Filed on Jan. 24, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending May
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$426,056
Expenses
$434,808
Net Income
-$8,752
Net Assets
$22,810
Notable Sources of Revenue Percent of Total Revenue
Contributions $21,500
5.0%
Program Services $404,556
95.0%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $90,000
20.7%
Professional Fundraising Fees $0
Other Salaries and Wages $193,333
44.5%
Assets/Debt
Total Assets $22,810
Total Liabilities $0
Net Assets $22,810
Other
Operated a school
Compensation
Key Employees and Officers Compensation Related Other
Brian Smith (Head Of Scho) $60,000 $0 $0

Document Links

990
Filed on Jan. 17, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending May
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$384,373
Expenses
$366,230
Net Income
$18,143
Net Assets
$31,562
Notable Sources of Revenue Percent of Total Revenue
Contributions $33,355
8.7%
Program Services $351,018
91.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $80,000
21.8%
Professional Fundraising Fees $0
Other Salaries and Wages $180,096
49.2%
Assets/Debt
Total Assets $31,562
Total Liabilities $0
Net Assets $31,562

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending May
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$230,426
Expenses
$235,602
Net Income
-$5,176
Net Assets
$3,973
Notable Sources of Revenue Percent of Total Revenue
Contributions $33,861
14.7%
Program Services $196,565
85.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $80,000
34.0%
Professional Fundraising Fees $0
Other Salaries and Wages $89,542
38.0%
Assets/Debt
Total Assets $3,973
Total Liabilities $0
Net Assets $3,973

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending May
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$242,181
Expenses
$242,507
Net Income
-$326
Net Assets
$2,882
Notable Sources of Revenue Percent of Total Revenue
Contributions $24,144
10.0%
Program Services $218,037
90.0%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $73,054
30.1%
Professional Fundraising Fees $0
Other Salaries and Wages $104,403
43.1%
Assets/Debt
Total Assets $2,882
Total Liabilities $0
Net Assets $2,882

No Document Links

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Dec.
2011

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending May
2011

Extracted Financial Data

Extracted Financial Data from 990-EZ
Revenue
$165,945
Expenses
$161,504
Net Income
$4,441
Net Assets
$7,083
Notable Sources of Revenue Percent of Total Revenue
Contributions $16,000
9.6%
Program Services $149,945
90.4%
Investment Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Assets/Debt
Total Assets $7,083
Total Liabilities $0
Net Assets $7,083

Document Links

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending May
2010

Extracted Financial Data

Extracted Financial Data from 990-EZ
Revenue
$40,865
Expenses
$44,419
Net Income
-$3,554
Net Assets
$3,173
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,014
4.9%
Program Services $38,851
95.1%
Investment Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Assets/Debt
Total Assets $3,173
Total Liabilities $0
Net Assets $3,173

Document Links

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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Byline

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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