Overview
What is Zarephath Academy Inc?
Zarephath Academy Inc, situated in Jacksonville, Florida, is a nonprofit organization that focuses on providing quality education to underserved children. Operating at 1028 E 10th St, the institution offers a faith-based curriculum for students from Kindergarten to Twelfth Grade. The school receives scholarship assistance from the state of Florida and tuition payments from its students' families. Notably, the tuition payments are not eligible for tax deductions. This K-12 institution aims to serve its community by offering a comprehensive education experience. With a team of 30 dedicated employees, Zarephath Academy Inc strives to make a positive impact in the lives of its students.
Official website here: www.zarephathacademy.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 55% (One-Star out of Four Stars)
Zarephath Academy Inc has received a low rating of 55% from Charity Navigator, which reflects concerns regarding its accountability and financial practices. The organization scored poorly in aspects such as having an independent board, where it has no independent members, and transparency in financial reporting, as no financial statements are available. Despite these shortcomings, Zarephath Academy has shown adherence to several governance policies, including having a conflict of interest and whistleblower policy in place.
On a positive note, the organization has a commendable program expense ratio of 90.91%, indicating that a significant portion of its funds is directed towards its programs rather than administrative costs. This reflects a strong commitment to fulfilling its mission and serving its community. Additionally, the charity's website is compliant with tax form listings and other required documentation, which is a good practice for transparency.
However, the high liabilities to assets ratio of 504.91% raises red flags about financial sustainability and operational stability. The lack of independent oversight and financial transparency could pose risks to donors and stakeholders. Overall, while Zarephath Academy demonstrates strengths in program spending, its governance and financial management practices need significant improvement to build trust and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Zarephath Academy Inc legitimate?
Zarephath Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Zarephath Academy Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $751,524
For more financial information, click here
Official website here: www.zarephathacademy.com
What is the mission statement of Zarephath Academy Inc?
Zarephath Academy Inc, as a K-12 institution, is committed to offering faith-based education to all its students. The school achieves this mission by providing quality education to underserved children with the assistance of scholarship funds from the state of Florida and tuition payments from the families of its students. It's worth noting that the tuition payments are not eligible for tax deductions. The primary goal of Zarephath Academy Inc is to make quality education accessible and affordable for a broad range of students.
Official website here: www.zarephathacademy.com
Who is the CEO of Zarephath Academy Inc?
Jerry Brant is the Executive Director of Zarephath Academy Inc.
Official website here: www.zarephathacademy.com
What is the revenue of Zarephath Academy Inc?
Zarephath Academy Inc's revenue in 2023 was $2,029,044.
Official website here: www.zarephathacademy.com
Who are the executives of Zarephath Academy Inc and what are their salaries?
The average compensation at Zarephath Academy Inc during 2023 was $25,051. There are 30 employees at Zarephath Academy Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.zarephathacademy.com
Where can I find the form 990 for Zarephath Academy Inc?
Zarephath Academy Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.zarephathacademy.com
Learn more at the official website: www.zarephathacademy.com
Mission Statement of Zarephath Academy Inc
Zarephath Academy Inc, a K-12 institution, is dedicated to delivering faith-based education to all its students. At the heart of its mission is the provision of quality education for children from underserved backgrounds. This is achieved through the utilization of tax credit scholarships, as well as tuition payments made by the families of its enrolled students. It's important to note that while the school receives financial assistance from the state of Florida, the tuition payments are not eligible for tax deductions.
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Impact
October, 2024
Zarephath Academy Inc significantly impacts the community by offering faith-based education to K-12 students, particularly focusing on serving underserved children in Jacksonville, FL. By providing quality educational opportunities through tax credit scholarships, the academy helps bridge the gap for families who may otherwise struggle to afford tuition. This approach allows students to access a comprehensive curriculum rooted in faith, fostering both academic and spiritual growth. Additionally, by engaging with the local community and prioritizing educational equity, Zarephath Academy creates an environment that supports the holistic development of its students, empowering them to thrive academically and personally.
This information is meant to be a general summary of Zarephath Academy Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $200
- Program Service Revenue: $2,028,844
- Gross Receipts: $2,029,044
Assets and Liabilities:
- Total Assets: $296,200
- Total Liabilities: $1,495,566
- Net Assets: -$1,199,366
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
National Lunch Program
Revenue
$1,516,616
FES
Revenue
$11,282
Food Program
Revenue
$643,649
SUFS
Revenue
$1,875
Organization Details
Founding Year
2008
Phone
(904) 566-7549Principal Officer
Jerry Brant
Main Address
1028 E 10th St/, Jacksonville, FL, 322063912
Website
www.zarephathacademy.comNTEE Category
Code: X20 - Religion related
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