2020-12-22T14:18:11-06:00 2020-06-30 751486711 PSK LLP 3001 MEDLIN DR STE 100 ARLINGTON TX 76015 990 2019-07-01 752484732 GPA MINISTRIES INC GPAM 8175573399 PO BOX 170958 ARLINGTON TX 760030958 SCOTT MARKS DIRECTOR OF FINANCE 8175573399 2020-12-18 true KATHY HOWLETT P00943345 8176643000 2020-12-18 2019 2022-09-23 18:48:47Z DAVID CHASE 4519337 false X WWW.GRACEPREP.ORG X 1992 GRACE PREPARATORY ACADEMY IS A PRIVATE SCHOOL PROVIDING A COLLEGE PREPARATORY EDUCATION TO APPROXIMATELY 300 TO 400 STUDENTS. 9 9 123 100 7352 290144 4163891 4149165 486 3389 59234 39891 4223611 4482589 0 0 2262233 2491542 2042152 0 180880 1862138 4304385 4353680 -80774 128909 7552850 7876785 5218849 6215495 2334001 1661290 X GRACE PREPARATORY ACADEMY PARTNERS WITH PARENTS TO PROVIDE A FAMILY- CENTRIC, CHRIST-CENTERED, COLLEGE PREPARATORY EDUCATION WHERE STUDENTS ARE ALLOWED TO FURTHER DEVELOP THEIR GOD-GIVEN TALENTS AND VIRTUES AND BECOME COLLEGE-WORTHY CHARACTER WITNESSES FOR CHRIST. false false 2218405 GPA IS AN EDUCATIONAL SERVICE PROVIDER THAT SERVES OVER 450 STUDENTS; ENCOMPASSING OVER 300 FAMILIES. THE SCHOOL EMPLOYS ALMOST 100 INDIVIDUALS TO ACCOMPLISH THIS ONE PROGRAM SERVICE. THE SCHOOL HAS STUDENTS ON CAMPUS 170 DAYS OUT OF THE YEAR. 2218405 true true false false false false false false false false true false false false true true true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 54 0 false 123 true true true false false false false false false false X 9 9 false false false false true false false true true false false true true false false true true true true false X SCOTT D MARKS 8175573399 3300 WEST I-20 ARLINGTON TX 76017 X DR MARC EVANS HEAD OF SCHO 40.00 X 146754 0 0 CHRISTOPHER HARPER ASST. HEAD O 40.00 X 122329 0 0 DAVID CHASE VICE-CHAIRMA X X 0 0 0 DAVID COOK BOARD MEMBER X X 0 0 0 SCOTT MARKS DIRECTOR OF X 0 0 0 TODD MOORE BOARD MEMBER X X 0 0 0 JAY SEDWICK CHAIRMAN X X 0 0 0 STEPHANIE SWENSON SECRETARY X X 0 0 0 RAND TOULOUSE BOARD MEMBER X X 0 0 0 COURTNEY WALKER BOARD MEMBER X X 0 0 0 PHILIP WAMBSGANSS TREASURER X X 0 0 0 JAYME YATES BOARD MEMBER X X 0 0 0 269083 2 false false false 290144 290144 TUITION & FEES 4149165 4149165 4149165 3389 3389 44100 36748 7352 7352 7352 BAD DEBT RECLAMATION 32334 32334 OTHER REVENUE 175 175 FINANCE FEE REVENUE 30 30 32539 4482589 4185093 7352 2263845 1224740 973453 65652 56479 30555 24286 1638 171218 92629 73624 4965 44843 44843 219193 87041 121352 10800 39220 39220 36698 35509 -1070 2259 17358 1689 15669 254867 41226 211573 2068 50442 50442 245258 245258 292373 292373 66947 66947 SUPPLIES 191459 177949 11982 1528 SAFETY EXPENSE 95001 432 94569 MEMBERSHIPS & SUBSCRIPTIO 47558 41446 3362 2750 FUNDRAISING EXPENSE 46165 368 45797 214756 142006 68547 4203 4353680 2218405 1954395 180880 314549 701229 85352 9423 4479 54798 8912939 1886956 7233822 7025983 7552850 7876785 76079 62690 760112 5142770 5392693 5218849 6215495 X 2334001 1661290 2334001 1661290 7552850 7876785 X 128909 -801620 X X true X true X true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42115 42115 7650808 1118653 6532155 1182750 744412 438338 37266 23891 13375 7025983 ANB LOAN 4403 - 1ST MORTG 3356502 ANB LOAN 4428 - 2ND MORTG 1552641 SBA PPP LOAN 452600 LOAN - GPBC 45000 CREDIT CARDS PAYABLE 26400 LOAN ORIGINATION FEES -40450 5392693 X 4482589 4482589 4482589 4337251 4337251 16429 16429 4353680 SCHEDULE D, PAGE 3, PART X THE SCHOOL FOLLOWS THE INCOME TAXES TOPIC OF THE FASB ASC, WHICH PRESCRIBES A COMPREHENSIVE MODEL FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS. THE SCHOOL IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS AND IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OTHER THAN RENTAL INCOME FROM LEASED FACILITIES. AS OF JUNE 30, 2020, THE SCHOOL HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AND DOES NOT EXPECT THIS TO CHANGE IN THE NEXT TWELVE MONTHS. THE SCHOOL FILES A FORM 990 INFORMATIONAL TAX RETURN ON AN ANNUAL BASIS. TAX YEARS 2017 AND BEYOND REMAIN OPEN TO IRS EXAMINATION. SCHEDULE D, PAGE 4, PART XII, LINE 4B BOOK / TAX DEPRECIATION DIFFERENCE 16,429 true true true true true true true false false false false false false false false false false true SCHEDULE E, LINE 3 PUBLISHED THE REQUIRED NOTICE USING ITS INTERNET WEBSITE FORM 990 - ORGANIZATION'S MISSION GRACE PREPARATORY ACADEMY PARTNERS WITH PARENTS TO PROVIDE A FAMILY- CENTRIC, CHRIST-CENTERED, COLLEGE PREPARATORY EDUCATION WHERE STUDENTS ARE ALLOWED TO FURTHER DEVELOP THEIR GOD-GIVEN TALENTS AND VIRTUES AND BECOME COLLEGE-WORTHY CHARACTER WITNESSES FOR CHRIST. FORM 990, PAGE 1, PART I, LINE 6 THE SCHOOL RELIES ON 75-100 VOLUNTEERS TO SUPPORT THE FACULTY AND STAFF IN ANCILLARY EDUCATIONAL RESPONSIBILITIES FORM 990, PAGE 6, PART VI, LINE 6 MEMBERS FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICERS AND BOARD FINANCE SUB- COMMITTEE FORM 990, PAGE 6, PART VI, LINE 15A BOARD OF DIRECTORS FORM 990, PAGE 6, PART VI, LINE 15B BOARD OF DIRECTORS HEAD MASTER FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATMEENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 NONCASH ADJ TO TUITION REVENUE -801,620 DURING THE YEAR ENDED JUNE 30, 2020, THE SCHOOL COMPLETED ITS CONVERSION FROM A CASH BASIS OF ACCOUNTING TO A FULL ACCRUAL BASIS OF ACCOUNTING. IN CONJUNCTION WITH THIS CONVERSION, CERTAIN ADJUSTMENTS WERE RECORDED IN ORDER TO REPORT DEFERRED TUITION REVENUE IN ACCORDANCE WITH U.S. GAAP. FORM 990, PAGE 12, PART XII, LINE 1 DURING THE YEAR ENDED JUNE 30, 2020, THE SCHOOL COMPLETED ITS CONVERSION FROM A CASH BASIS OF ACCOUNTING TO A FULL ACCRUAL BASIS OF ACCOUNTING. IN CONJUNCTION WITH THIS CONVERSION, CERTAIN ADJUSTMENTS WERE RECORDED IN ORDER TO REPORT DEFERRED TUITION REVENUE IN ACCORDANCE WITH U.S. GAAP.