Classical Academy Incorporated
- Assets
- $89.0m
- Revenue
- $41.5m
- Investments
- $0.0
- Employees
- 531
- Location
- Escondido, CA
- Founding
- 01/2000
- Data as of
- 06/2022
- EIN
- 33-0857665
Organization Overview
Classical Academy Incorporated is located in Escondido, CA. The organization was established in 2000. 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 06/2022, Classical Academy Incorporated employed 531 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Classical 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 06/2022, Classical Academy Incorporated generated $41.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $40.8m during the year ending 06/2022. While expenses have increased by 19.6% 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
OPERATES: (2) K-8 CHARTER SCHOOLS AND (1) HIGH SCHOOL: OPERATES ONLINE SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLASSICAL ACADEMY, INC OPERATES TWO SEPARATE CHARTER SCHOOL (K-8), ONE HIGH SCHOOL, AND ONE ONLINE SCHOOL. IT ASSISTS PARENTS IN THEIR MISSION TO DEVELOP EXEMPLARY YOUNG CITIZENS WITH SUPERIOR ACADEMIC PROFICIENCY, ANALYTICAL THINKING SKILLS, A PASSION FOR LEARNING AND VIRTUOUS CHARACTER, ALL BUILT UPON A SOLID FOUNDATION OF KNOWLEDGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Reardon President | OfficerTrustee | 2 | $0 |
Paul Donovan Jr Secretary | OfficerTrustee | 2 | $0 |
Angie Mostellar Treasurer | OfficerTrustee | 2 | $0 |
Mark Donar Member At Large | Trustee | 2 | $0 |
Patty Huerta Member At Large | Trustee | 2 | $0 |
Cameron Curry CEO | Officer | 20 | $299,062 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,516,159 |
| All other contributions, gifts, grants, and similar amounts not included above | $551,175 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,067,334 |
| Total Program Service Revenue | $0 |
| Investment income | $418,848 |
| 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 | $41,486,182 |
| 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. | $637,985 |
| Compensation of current officers, directors, key employees. | $637,985 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,037,300 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,183,200 |
| Payroll taxes | $0 |
| 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 | $2,621,879 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $74,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,694,197 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,255,466 |
| Insurance | $344,844 |
| All other expenses | $109,910 |
| Total functional expenses | $40,832,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,423,139 |
| Savings and temporary cash investments | $11,887,662 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,338,328 |
| 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 | $478,296 |
| Net Land, buildings, and equipment | $49,943,216 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,935,886 |
| Total assets | $89,006,527 |
| Accounts payable and accrued expenses | $4,096,145 |
| Grants payable | $0 |
| Deferred revenue | $797,178 |
| Tax-exempt bond liabilities | $51,084,386 |
| 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 | $20,684,110 |
| Total liabilities | $76,661,819 |
| Net assets without donor restrictions | $12,344,708 |
| 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 | $89,006,527 |