PROVIDENCE ACADEMY

EIN: 621564142 501(c)(3) Education

JOHNSON CITY, TN

Total Revenue
$8,216,454
Total Expenses
$7,247,833
Total Assets
$19,938,375
Net Assets
$15,789,715
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
TN
Principal Officer
BENJAMIN HOLLAND
Phone
4238549819
Tax Period
2022-07-01 to 2023-06-30

PROVIDENCE ACADEMY, founded in 1994, is a community nonprofit in the Education sector that reported $8.2M in total revenue in fiscal year 2022. Revenue decreased 18% compared to the prior year. Expenses of $7.2M left a modest 12% surplus.

Mission

PROVIDENCE ACADEMY PARTNERS WITH PARENTS TO EQUIP STUDENTS TO DEVELOP SPIRITUAL MATURITY AND ACHIEVE ACADEMIC EXCELLENCE THROUGH A BIBLICALLY-BASED, CHRIST-CENTERED, CLASSICAL EDUCATION, SO THEY WILL THINK AND LIVE IN A MANNER WHICH BRINGS GLORY TO GOD.

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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 (2022)

Revenue Breakdown

Contributions & Grants $2,167,742
Program Service Revenue $5,816,530
Investment Income $35,012
Other Revenue $197,170
TOTAL REVENUE $8,216,454

Expense Breakdown

Grants Paid $445,624
Salaries & Benefits $4,527,626
Fundraising Expenses $539,796
Program Expenses $5,488,905
Other Expenses $2,274,583
TOTAL EXPENSES $7,247,833

Year-over-Year Comparison

2022 2021 Change
Revenue $8,216,454 $10,009,761 -0.2%
Expenses $7,247,833 $6,365,442 +0.1%
Net Income $968,621 $3,644,319 -0.7%
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
9
Independent Members
9
Employees
144
Volunteers
200

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
4
$131,171
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MORRIS HENARD EX-OFFICIO 1.00
Director
$0 $0 $0
BJ SMITH CHAIRMAN 1.00
Officer Director
$0 $0 $0
EARLE CHUTE BOARD MEMBER 1.00
Director
$0 $0 $0
MARK HECHT BOARD MEMBER 1.00
Director
$0 $0 $0
JOSH PUHR BOARD MEMBER 1.00
Director
$0 $0 $0
ALISA VANCOTT BOARD MEMBER 1.00
Director
$0 $0 $0
MATT JONES VICE CHAIR 1.00
Officer Director
$0 $0 $0
WAYNE TURBYFIELD BOARD MEMBER 1.00
Director
$0 $0 $0
REX GARRISON BOARD MEMBER 1.00
Director
$0 $0 $0
JOSHUA HICKS SECRETARY 1.00
Officer Director
$0 $0 $0
BEN HOLLAND HEAD OF SCHOOL 40.00
Officer
$123,097 $8,074 $131,171
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $8,216,454 $7,247,833 $19,938,375 $968,621
2022 $10,009,761 $6,365,442 $17,103,088 $3,644,319
2021 $5,540,745 $5,260,163 $13,298,230 $280,582
2020 $5,088,712 $4,395,226 $9,804,139 $693,486
2019 $4,082,248 $4,110,180 $9,401,441 $-27,932
2018 $3,971,265 $3,981,274 $9,668,588 $-10,009
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