FAITH ACADEMY INC

EIN: 272493620 501(c)(3) Education

LAKE CITY, FL

Total Revenue
$179,404
Total Expenses
$141,116
Total Assets
$38,288
Net Assets
$37,890
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
FL
Tax Period
2023-01-01 to 2023-12-31

FAITH ACADEMY INC, founded in 2010, is a small nonprofit in the Education sector that reported $179K in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $38K, a strong 21% operating margin.

Mission

PRIVATE SCHOOL

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $179,404
Investment Income $0
Other Revenue $0
TOTAL REVENUE $179,404

Expense Breakdown

Grants Paid $0
Salaries & Benefits $91,638
Fundraising Expenses $0
Program Expenses $141,116
Other Expenses $49,478
TOTAL EXPENSES $141,116

Year-over-Year Comparison

2023 2022 Change
Revenue $179,404 $142,576 +0.3%
Expenses $141,116 $124,561 +0.1%
Net Income $38,288 $18,015 +1.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
1
$13,500
Key Employees
1
$13,500
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAMELA B STEELE DIRECTOR 40.00
Director Key Emp
$13,500 $0 $13,500
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $179,404 $141,116 $38,288 $38,288
2022 $142,576 $124,561 $55,492 $18,015
2021 $158,709 $175,558 $37,477 $-16,849
2020 $204,359 $172,313 $37,850 $32,046
2019 $208,168 $190,757 $11,119 $17,411
2018 $211,514 $192,625 $33,287 $18,889
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