Nonprofit · EIN 45-2949553
GRACE CLASSICAL CHRISTIAN ACADEMY
Tax-exempt · GRANBURY, TX 76048
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| May 31, 2025 | 990 | $2,997,525 | $896,169 | $2,101,356 | $3,678,145 | $119,451 | $3,558,694 |
| May 31, 2024 | 990 | $1,510,446 | $1,149,196 | $361,250 | $1,437,093 | $139,870 | $1,297,223 |
Financial details: 990 for the year ended May 31, 2025
Revenue
- Contributions, gifts and grants
- $2,335,275
- Program service revenue
- $654,557
- Investment income
- -$42,866
- Net gain from sales of assets
- -$68,405
- Net income from gaming
- $50,485
- Other revenue
- $50,559
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $661,005
- Salaries, compensation and benefits (total)
- $752,207
- Professional fundraising fees
- $0
- Accounting fees
- $5,578
- Occupancy
- $50,263
- Depreciation
- $788
- Program services (functional)
- $893,568
- Management and general (functional)
- $2,601
Balance sheet and other
- Total assets, start of year
- $1,437,093
- Total assets, end of year
- $3,678,145
- Total liabilities, end of year
- $119,451
- Net assets, end of year
- $3,558,694
- Land, buildings and equipment
- $1,743,268
- Publicly traded securities
- $1,100,375
- Net assets without donor restrictions
- $3,558,694
- Gross unrelated business income
- $74
- Gross receipts
- $4,480,070
- Employees
- 33
- Volunteers
- 50
- Year formed
- 2011
- 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 |
|---|---|---|---|
| BRETT CAIN | PRESIDENT Trustee or director, Officer | 2 | $0 |
| LUCAS FOLEGATTI | SECRETARY&TR Trustee or director, Officer | 2 | $0 |
| IKE THOMAS | BOARD MEMBER Trustee or director | 2 | $0 |
| RYAN THOMAS | BOARD MEMBER Trustee or director | 2 | $0 |
990 for the year ended May 31, 2024: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BRETT CAIN | VICE PRESIDE Trustee or director, Officer | 2 | $0 |
| LUCAS FOLEGATTI | TREASURER Trustee or director, Officer | 2 | $0 |
| IKE THOMAS | BOARD MEMBER Trustee or director | 2 | $0 |
| RYAN THOMAS | BOARD MEMBER Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 41, GRANBURY, TX 76048-0015
- Principal officer (990 for 2024)
- LUCAS FOLEGATTI, PO BOX 41, GRANBURY, TX 76048
- Signed the 990
- LUCAS FOLEGATTI, SECRETARY&TREASURER
- Phone
- (817) 771-4951
- Website
- WWW.GRACECLASSICAL.COM
- Return prepared by
- HOOPER LANGLEY & ASSOCIATES PC
Mission
THE OPERATION OF A SCHOOL TO EDUCATE CHILDREN FROM PRE-KINDERGARTEN THROUGH HIGH SCHOOL WITH AN EMPHASIS ON AN HISTORIC CHRISTIAN WORLDVIEW AND RELATED VIGOROUS CLASSICAL CURRICULUM. DURING THE CURRENT SCHOOL YEAR WE HAD STUDENTS ENROLLED IN GRADES PRE - KINDERGARTEN THROUGH TWELFTH GRADE.
Program accomplishments
- THE OPERATION OF A SCHOOL TO EDUCATE CHILDREN FROM PRE-KINDERGARTEN THROUGH HIGH SCHOOL WITH AN EMPHASIS ON AN HISTORIC CHRISTIAN WORLDVIEW AND RELATED VIGOROUS CLASSICAL CURRICULUM. DURING THE CURRENT SCHOOL YEAR WE HAD STUDENTS ENROLLED IN GRADES PRE - KINDERGARTEN THROUGH TWELFTH GRADE.Expenses $893,568 · revenue $654,557
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
- 45-2949553
- 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
- 2012
- Accounting year ends
- May
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B20)
- Assets (IRS master file)
- $3,678,145
- Income (IRS master file)
- $4,480,070
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | May 2025 | $2,997,525 | $896,169 | $3,678,145 | XML |
| 990 | May 2024 | $1,510,446 | $1,149,196 | $1,437,093 | XML |
| 990-T | May 2024 | – | – | – | IRS |
| 990 | May 2023 | $1,461,431 | $935,811 | $952,350 | IRS |
| 990 | August 2022 | $911,510 | $877,734 | $419,742 | IRS |
| 990-T | August 2022 | – | – | – | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | August 2019 | – | – | – | IRS |
| 990 | August 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 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 (search EIN 45-2949553).
Questions about GRACE CLASSICAL CHRISTIAN ACADEMY
- What is the EIN of GRACE CLASSICAL CHRISTIAN ACADEMY?
- The employer identification number (EIN) of GRACE CLASSICAL CHRISTIAN ACADEMY is 45-2949553.
- Is GRACE CLASSICAL CHRISTIAN ACADEMY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2012.
- Are donations to GRACE CLASSICAL CHRISTIAN ACADEMY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GRACE CLASSICAL CHRISTIAN 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 CLASSICAL CHRISTIAN 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 CLASSICAL CHRISTIAN 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 CLASSICAL CHRISTIAN ACADEMY?
- The 990 for the year ended May 31, 2025 names LUCAS FOLEGATTI.
- Who are the officers and directors of GRACE CLASSICAL CHRISTIAN ACADEMY?
- The 990 for the year ended May 31, 2025 lists 4 people; 0 received compensation from the organization.
- How much revenue does GRACE CLASSICAL CHRISTIAN ACADEMY have?
- On its 990 for the year ended May 31, 2025 it reported revenue of $2,997,525, expenses of $896,169 and total assets of $3,678,145 at year end.
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