Grace Covenant Academy

Nonprofit profile at a glance

EIN
270533151
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Frisco, TX, USA
Phone
4697346466
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12
Affiliation
Christianity

Official website

Reported finances

Revenue
$1,717,763
Expenses
$1,535,397
Assets
$312,858
Liabilities
$9,283

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • BRIAN P SMITH (President)

Highest reported compensation

  • AMY SMITH (Secretary): $91,131 total reported compensation
  • BRIAN P SMITH (President): $71,682 total reported compensation
  • JOHN S EIBEL (Board Member): $5,192 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

Provides extracurricular and student enrichment programs, including athletics, student activities, field trips, & supplemental educational programs that support student development and enhance the educational experience.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 14
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.9%; rating input score 80
  • Program expense ratio: 89.5%; rating input score 89
  • Fundraising efficiency: $20.2 raised per $1 spent on fundraising; rating input score 59; 59th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.6%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 10.9%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 12.6% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 12.8% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 13.5% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 79.9% of revenue deployed · 89.5% of spending went to programs
  • Governance: 0 of 3 board members independent · 3 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $91K · 3 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 59/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.