Lincoln Academy Incorporated
- Assets
- $18.2m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 170
- Location
- Pleasant Grove, UT
- Founding
- 07/2006
- Data as of
- 06/2023
- EIN
- 20-2344918
Organization Overview
Lincoln Academy Incorporated is located in Pleasant Grove, UT. The organization was established in 2006. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Lincoln Academy Incorporated employed 170 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lincoln Academy Incorporated 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 06/2023, Lincoln Academy Incorporated generated $9.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $9.1m during the year ending 06/2023. While expenses have increased by 6.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MANAGE, OPERATE, GUIDE, DIRECT, AND PROMOTE A PUBLIC CHARTER SCHOOL FUNDED BY LOCAL, STATE, AND FEDERAL SOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF ONE PUBLIC CHARTER SCHOOL FOR STUDENTS FROM KINDERGARTEN TO NINTH GRADE.
TO PROVIDE SCHOOL LUNCHES TO STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacob Hunt Principal | Officer | 40 | $138,613 |
Peter Ehlen Vice Princip | 40 | $100,511 | |
Mitchell Beck Board Member | Trustee | 6 | $0 |
Sarah Chaffin Board Member | Trustee | 12 | $0 |
Cade Close Treasurer | OfficerTrustee | 8 | $0 |
Scharman Grimmer President | OfficerTrustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,016,172 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,719 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,057,891 |
| Total Program Service Revenue | $363,510 |
| Investment income | $196,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,950 |
| Net Gain/Loss on Asset Sales | -$25,857 |
| Net Income from Fundraising Events | $39,138 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,677,727 |
| 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. | $138,613 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,868,455 |
| Pension plan accruals and contributions | $192,327 |
| Other employee benefits | $702,244 |
| Payroll taxes | $370,603 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $168,070 |
| Advertising and promotion | $260 |
| Office expenses | $0 |
| Information technology | $331,036 |
| Royalties | $0 |
| Occupancy | $442,768 |
| Travel | $74,749 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $572,172 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $485,945 |
| Insurance | $56,878 |
| All other expenses | $21,259 |
| Total functional expenses | $9,087,079 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,201,294 |
| Savings and temporary cash investments | $5,161,844 |
| Pledges and grants receivable | $69,533 |
| Accounts receivable, net | $8,537 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $33,212 |
| Net Land, buildings, and equipment | $11,740,689 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,215,109 |
| Accounts payable and accrued expenses | $142,612 |
| Grants payable | $0 |
| Deferred revenue | $306,660 |
| Tax-exempt bond liabilities | $12,680,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $23,120 |
| Total liabilities | $13,152,392 |
| Net assets without donor restrictions | $5,062,717 |
| 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 | $18,215,109 |