Chelsea Academy Inc
- Assets
- $1.9m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 39
- Location
- Front Royal, VA
- Founding
- 03/2008
- Data as of
- 08/2022
- EIN
- 20-8995583
Organization Overview
Chelsea Academy Inc is located in Front Royal, VA. The organization was established in 2008. 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 08/2022, Chelsea Academy Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chelsea 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 08/2022, Chelsea Academy Inc generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $2.2m during the year ending 08/2022. While expenses have increased by 9.3% 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
EDUCATION OF MIDDLE SCHOOL, HIGH SCHOOL STUDENTS, AND LOWER SCHOOL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION OF HIGH SCHOOL, MIDDLE SCHOOL, AND LOWER SCHOOL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felix Hernandez Head Master (former) | 50 | $118,013 | |
John M Dejak Head Master | OfficerTrustee | 50 | $73,917 |
Luke Fier Chief Financial & Business Officer | Officer | 50 | $53,928 |
Paul Lagarde Treasurer | OfficerTrustee | 2 | $0 |
J Douglas Mccarthy Chairman | OfficerTrustee | 5 | $0 |
Dyric Snyder Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $183,465 |
| Government grants | $708,564 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,825 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $914,854 |
| Total Program Service Revenue | $1,861,589 |
| Investment income | $0 |
| 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 | $2,790,864 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $436,341 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $127,845 |
| Compensation of current officers, directors, key employees. | $12,785 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $954,764 |
| Pension plan accruals and contributions | $8,464 |
| Other employee benefits | $89,499 |
| Payroll taxes | $91,490 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,517 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,667 |
| Office expenses | $8,687 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $259,389 |
| Travel | $2,676 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,494 |
| Insurance | $21,402 |
| All other expenses | $58,107 |
| Total functional expenses | $2,238,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $357,251 |
| Savings and temporary cash investments | $143,763 |
| Pledges and grants receivable | $463,664 |
| Accounts receivable, net | $13,442 |
| 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 | $46,794 |
| Net Land, buildings, and equipment | $323,512 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $510,133 |
| Total assets | $1,858,559 |
| Accounts payable and accrued expenses | $66,590 |
| Grants payable | $0 |
| Deferred revenue | $1,005,053 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $1,071,643 |
| Net assets without donor restrictions | $784,754 |
| Net assets with donor restrictions | $2,162 |
| 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 | $1,858,559 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chelsea Academy Inc has recieved totaling $374.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $374 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Louisville Collegiate School Louisville, KY | $44,243,091 | $19,424,992 |
Milton Gottesman Jewish Day School Of The Nations Capital Washington, DC | $47,850,998 | $22,230,618 |
Lincoln Charter School Inc Denver, NC | $10,014,512 | $18,722,799 |
Kentucky Country Day School Inc Louisville, KY | $45,327,857 | $17,940,550 |
Imagine Schools Inc Vienna, VA | $112,554,052 | $31,881,932 |
Capstone Education Group Inc Memphis, TN | $24,521,664 | $20,250,688 |
Meridian Public Charter School Washington, DC | $25,835,715 | $17,496,957 |
St Paul's School For Girls Inc Brooklandville, MD | $0 | $15,914,099 |
Sayre School Lexington, KY | $37,948,520 | $16,925,718 |
St Johns Community Services - District Of Columbia Washington, DC | $113,804 | $20,352,755 |
Lexington Christian Academy Inc Lexington, KY | $37,177,484 | $18,280,442 |
Saint James School Inc Hagerstown, MD | $77,226,869 | $20,561,499 |