Monticello Academy Inc
- Assets
- $19.4m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 149
- Location
- West Valley City, UT
- Founding
- 03/2007
- Data as of
- 06/2022
- EIN
- 20-4303874
Organization Overview
Monticello Academy Inc is located in West Valley City, UT. The organization was established in 2007. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Monticello Academy Inc employed 149 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monticello Academy Inc 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, Monticello Academy Inc generated $11.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $9.4m during the year ending 06/2022. While expenses have increased by 11.5% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF MONTICELLO ACADEMY IS TO PROVIDE A SUPERIOR EDUCATION FOR K-9 STUDENTS BY 1) PLACING A HIGH PRIORITY ON ACADEMIC ACHIEVEMENT AND COLLEGE PREPARATION; 2)FOSTERING TRADITIONAL AMERICAN VALUES OF HARD WORK AND STRONG MORAL CHARACTER; 3)ENCOURAGING PARENTS TO RESUME THEIR RIGHTS AND RESPONSIBILITIES TO INFLUENCE THE EDUCATION OF THEIR CHILDREN; 4) RESTORING STRONG ART, MUSIC, AND PHYSICAL EDUCATION COMPONENTS TO THE SCHOOL CURRICULUM; 5) UTILIZING STATE-OF-THE-ART TECHNOLOGY TO ENHANCE INSTRUCTION AND LEARNING; 6)ASSISTING STUDENTS TO GAIN KNOWLEDGE, MOTIVATION, CONFIDENCE, SKILLS, AND A LIFELONG LOVE OF LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A PUBLIC CHARTER SCHOOL FOR STUDENTS FROM KINDERGARTEN TO EIGHTH GRADE.
TO OPERATE A SCHOOL LUNCH PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dane Roberts Executive Di | Officer | 40 | $128,061 |
Joel Coleman Trustee | Trustee | 1 | $0 |
Kim Coleman Trustee | Trustee | 1 | $0 |
Emilie Gibson Trustee | Trustee | 1 | $0 |
Martell Winters Trustee | Trustee | 1 | $0 |
Free Wright Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,679,165 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,227,677 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,906,842 |
| Total Program Service Revenue | $53,965 |
| Investment income | $8,168 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,995,188 |
| 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. | $128,061 |
| Compensation of current officers, directors, key employees. | $128,061 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,607,088 |
| Pension plan accruals and contributions | $309,983 |
| Other employee benefits | $616,773 |
| Payroll taxes | $347,373 |
| Fees for services: Management | $100,000 |
| Fees for services: Legal | $4,308 |
| Fees for services: Accounting | $40,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $270,917 |
| Advertising and promotion | $8,762 |
| Office expenses | $0 |
| Information technology | $235,221 |
| Royalties | $0 |
| Occupancy | $438,231 |
| Travel | $8,227 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $635,453 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $590,776 |
| Insurance | $43,289 |
| All other expenses | $43,145 |
| Total functional expenses | $9,350,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,422,812 |
| Savings and temporary cash investments | $1,699,252 |
| Pledges and grants receivable | $323,051 |
| Accounts receivable, net | $28,729 |
| 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 | $0 |
| Net Land, buildings, and equipment | $15,450,457 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $467,622 |
| Total assets | $19,391,923 |
| Accounts payable and accrued expenses | $731,035 |
| Grants payable | $0 |
| Deferred revenue | $200,948 |
| Tax-exempt bond liabilities | $8,005,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $8,594,321 |
| Unsecured mortgages and notes payable | $237,237 |
| Other liabilities | $791,199 |
| Total liabilities | $18,559,740 |
| Net assets without donor restrictions | $832,183 |
| 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 | $19,391,923 |