Forest Ridge Academy Inc
- Assets
- $6.1m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 73
- Location
- Schererville, IN
- Founding
- 08/1982
- Data as of
- 06/2024
- EIN
- 31-1038248
Organization Overview
Forest Ridge Academy Inc is located in Schererville, IN. The organization was established in 1982. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2024, Forest Ridge Academy Inc employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forest Ridge 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 06/2024, Forest Ridge Academy Inc generated $3.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $3.1m during the year ending 06/2024. While expenses have increased by 1.4% per year over the past 5 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ACCREDITED EDUCATIONAL SERVICES FOR PRESCHOOL THROUGH EIGHTH GRADE, AND TO INSPIRE A PASSION FOR LEARNING, GLOBAL AWARENESS AND LEADERSHIP, AND INSTILL STRONG VALUES THROUGH A CHALLENGING CURRICULUM AND SERVICE TO HUMANITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES FOR PRESCHOOL THROUGH EIGHTH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elias Litos President | OfficerTrustee | 5 | $0 |
Vesna Balac Vice Preside | OfficerTrustee | 4 | $0 |
Mark Borst Treasurer | OfficerTrustee | 4 | $0 |
Kunteera Tarin Secretary | OfficerTrustee | 3 | $0 |
Rachel Agusti Board Member | Trustee | 2 | $0 |
Greg Crowley Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $37,125 |
| Related organizations | $0 |
| Government grants | $93,179 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,532 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $134,836 |
| Total Program Service Revenue | $2,819,843 |
| Investment income | $163,489 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $197,387 |
| Net Income from Gaming Activities | $86,389 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,401,944 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,019,742 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $148,774 |
| Payroll taxes | $163,065 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,264 |
| Fees for services: Accounting | $35,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,067 |
| Fees for services: Other | $2,623 |
| Advertising and promotion | $20,742 |
| Office expenses | $36,163 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $123,081 |
| Travel | $0 |
| 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 | $113,862 |
| Insurance | $28,842 |
| All other expenses | $30,171 |
| Total functional expenses | $3,112,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,160,725 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $190,827 |
| 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 | $1,740 |
| Net Land, buildings, and equipment | $1,480,656 |
| Investments—publicly traded securities | $2,147,687 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,146,170 |
| Total assets | $6,127,805 |
| Accounts payable and accrued expenses | $174,704 |
| Grants payable | $0 |
| Deferred revenue | $766,221 |
| 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 | $13,480 |
| Total liabilities | $954,405 |
| Net assets without donor restrictions | $5,045,569 |
| Net assets with donor restrictions | $127,831 |
| 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 | $6,127,805 |