LifeWise Academy doubled its revenue in 2024, tax documents show

COLUMBUS, Ohio (WCMH) -- LifeWise Academy, a biblical education service that teaches public school students about Christianity during the school day off school property, more than doubled its profits in 2024, according to tax papers filed in November.

According to the documents, published by Pro Publica, LifeWise's revenue hit more than $35 million in the 2024 fiscal year, allowing the organization to rake in more than $17 million after expenses. In the 2023 fiscal year, LifeWise had under $14 million in revenue.

LifeWise operates under religious release time policies, which allow religious organizations to teach students during school off of school property. By June of 2024, LifeWise said it has served more than 30,000 students across 331 schools and 13 states.

In its growth in 2024, LifeWise gathered support and criticism across multiple states. One critic, an Indiana parent and funder of the group Parents Against LifeWise, recently settled a copyright lawsuit with the religious programming organization. Ohioans both for and against LifeWise and similar religious release time programs clashed at Westerville and Worthington school board meetings. Both school districts voted to rescind their policies that allowed programs like LifeWise to operate.

However, House Bill 8, also known as the Parents Bill of Rights, passed in the Statehouse in December and would require school districts to implement policies allowing religious release time. HB8 is currently awaiting action from Gov. Mike DeWine, who has until Friday to veto or sign the legislation. If he does neither, the bill will become law by default.

"LifeWise has experienced significant growth because families and communities realize the tremendous benefits of Bible-based character education," LifeWise founder and CEO Joel Penton said.

LifeWise also more than tripled its total assets, from $7.7 million to nearly $25 million in assets at the end of fiscal year 2024, which concluded in June. More than 97% of this funding came from public support. According to tax documents, LifeWise has made $56,442,769 in public support and funding since its first tax filing in 2019.

According to the tax documents, LifeWise doubled what it paid in salaries from fiscal year 2023's $5 million in compensation, paying employees a combined $10,443,794 in 2024. According to the tax documents, Penton received $111,824 in compensation and worked 60 hours each week. Vice President and CFO Steve Clifton received $183,532 and worked the same hours, and Vice President of Advancement Derek Stemen was also reported as making more than Penton, at just over $133,000.

Hilliard-based LifeWise reported $702,460 in revenue stemmed from conducting "high school and middle school assemblies throughout the Midwest and eastern U.S." A representative clarified this was unrelated to the religious release programs and was advocacy work with the larger nonprofit LifeWise works with, also founded by Penton. It was also the first year the nonprofit reported zero liabilities or no financial obligations to outside parties.

"There's a real hunger for a program that benefits kids academically, mentally and spiritually, which LifeWise fulfills and we're grateful to have the support of thousands of donors across the country," Penton said. "The increase in revenue is commensurate with the exponential increase in the interest in our program nationwide."

Some portions of the tax documents were restricted from view, and the filing has not been made public on the IRS website to date. A representative for LifeWise confirmed fiscal documents and reports for LifeWise will be available on its website in early February.