Montfort Academy
- Assets
- $2.2m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 23
- Location
- Mount Vernon, NY
- Founding
- 06/1999
- Data as of
- 06/2022
- EIN
- 13-4037507
Organization Overview
Montfort Academy is located in Mount Vernon, NY. The organization was established in 1999. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Montfort Academy employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montfort Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Montfort Academy generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $2.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MONTFORT ACADEMY IS A CLASSICAL COLLEGE-PREPARATORY SCHOOL GROUNDED IN THE SPIRITUAL & INTELLECTUAL TEACHINGS OF THE ROMAN CATHOLIC CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXEMPT PURPOSE IS COLLEGE-PREPARATORY SCHOOL, ACCOMPLISHMENTS INCLUDE: 1. 100% 4-YEAR COLLEGE ACCEPTANCE RATE EVERY YEAR SINCE THE SCHOOL WAS FOUNDED.2. 90% OF STUDENTS EARN HONORS RECOGNITION ON THE NATIONAL LATIN EXAM.3. STUDY ABROAD PROGRAM VISITED 30 ARCHEOLOGICAL SITES IN THE STUDY IN ITALY PROGRAM.4. 97% YEAR OVER YEAR STUDENT RETENTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Greco President | OfficerTrustee | 40 | $278,750 |
Thomas D Lehrman Trustee | Trustee | 1 | $0 |
Joseph Schenk Trustee | Trustee | 1 | $0 |
Patricia Macias Trustee | Trustee | 1 | $0 |
Vincenzo Laruffa Trustee | Trustee | 1 | $0 |
Fulvio Pagnozzi Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $264,417 |
| All other contributions, gifts, grants, and similar amounts not included above | $109,067 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $373,484 |
| Total Program Service Revenue | $1,683,582 |
| Investment income | $10 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$69,688 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,987,388 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $278,750 |
| Compensation of current officers, directors, key employees. | $139,375 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,050,231 |
| Pension plan accruals and contributions | $1,230 |
| Other employee benefits | $121,033 |
| Payroll taxes | $98,684 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,608 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,185 |
| Advertising and promotion | $28,054 |
| Office expenses | $68,080 |
| Information technology | $3,108 |
| Royalties | $0 |
| Occupancy | $99,253 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,494 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,826 |
| Insurance | $63,444 |
| All other expenses | $22,994 |
| Total functional expenses | $2,061,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $932,312 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $232,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,500 |
| Inventories for sale or use | $8,500 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $94,921 |
| Investments—publicly traded securities | $908,885 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,500 |
| Total assets | $2,189,618 |
| Accounts payable and accrued expenses | $42,744 |
| Grants payable | $0 |
| Deferred revenue | $1,101,724 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $27,000 |
| Secured mortgages and notes payable | $722,167 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,893,635 |
| Net assets without donor restrictions | $295,983 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,189,618 |