Morgan Park Academy
- Assets
- $7.4m
- Revenue
- $9.6m
- Investments
- $71.5k
- Employees
- 161
- Location
- Chicago, IL
- Founding
- 07/1942
- Data as of
- 06/2022
- EIN
- 36-1502650
Organization Overview
Morgan Park Academy is located in Chicago, IL. The organization was established in 1942. 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, Morgan Park Academy employed 161 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morgan Park Academy 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, Morgan Park Academy generated $9.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $9.4m during the year ending 06/2022. While expenses have increased by 2.5% 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
A PRIVATE INDEPENDENT SCHOOL FOR PRE-SCHOOL - 12TH GRADE
Describe the Organization's Program Activity:
Part 3 - Line 4a
MORGAN PARK ACADEMY OPERATES A PRIVATE INDEPENDENT SCHOOL FOR PRESCHOOL THROUGH GRADE 12 AND HAS APPROXIMATELY 485 STUDENTS.
THE ACADEMY RECEIVES DONATED SERVICES FROM PARENTS OF STUDENTS. THE VALUE OF THESE SERVICES CANNOT BE DETERMINED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mercedes Sheppard Head Of School | Officer | 50 | $220,294 |
Louis Saggione Jr Director Of Bldgs & Ground | 50 | $114,539 | |
Vincent Hermosilla Assistant Head Of School | 40 | $110,142 | |
Heidi Yernberg Board President | OfficerTrustee | 4 | $0 |
Torrence Moore Board Treasurer | OfficerTrustee | 4 | $0 |
Andrea Durbin-Odom Board Vice President | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $96,640 |
| Related organizations | $0 |
| Government grants | $125,607 |
| All other contributions, gifts, grants, and similar amounts not included above | $196,794 |
| Noncash contributions included in lines 1a–1f | $64,087 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $419,041 |
| Total Program Service Revenue | $9,077,573 |
| Investment income | $16,538 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $82,521 |
| Net Gain/Loss on Asset Sales | $2,749 |
| Net Income from Fundraising Events | $31,192 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,629,614 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,625,765 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $231,308 |
| Compensation of current officers, directors, key employees. | $75,452 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,156,034 |
| Pension plan accruals and contributions | $11,291 |
| Other employee benefits | $312,125 |
| Payroll taxes | $339,953 |
| 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 | $11,484 |
| Fees for services: Other | $92,357 |
| Advertising and promotion | $78,993 |
| Office expenses | $118,675 |
| Information technology | $105,304 |
| Royalties | $0 |
| Occupancy | $337,671 |
| Travel | $15,200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $141,766 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $281,512 |
| Insurance | $101,011 |
| All other expenses | $152,246 |
| Total functional expenses | $9,436,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $728,444 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $112,596 |
| 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 | $33,649 |
| Net Land, buildings, and equipment | $5,282,885 |
| Investments—publicly traded securities | $1,124,861 |
| Investments—other securities | $71,488 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,353,923 |
| Accounts payable and accrued expenses | $318,504 |
| Grants payable | $0 |
| Deferred revenue | $1,410,002 |
| 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 | $2,611,386 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,339,892 |
| Net assets without donor restrictions | $1,750,255 |
| Net assets with donor restrictions | $1,263,776 |
| 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 | $7,353,923 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Morgan Park Academy has recieved totaling $4,500.
| Awarding Organization | Amount |
|---|---|
Warren And Mary Jane Crist Foundation Phoenix, AZ PURPOSE: EDUCATIONAL EQUIPMENT | $4,500 |
Endowment Analysis
| Beg. Balance | $266,530 |
| Admin Expense | $1,964 |
| Other Expense | $15,575 |
| Ending Balance | $252,919 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bernard Zell Anshe Emet Day School Chicago, IL | $69,026,609 | $20,320,544 |
Heritage Christian Schools Inc Indianapolis, IN | $19,759,630 | $19,173,955 |
Academy Of Basic Education Inc Brookfield, WI | $40,498,539 | $16,384,035 |
Summit Christian Academy Lees Summit, MO | $26,556,183 | $15,642,141 |
Orchard School Foundation Inc Indianapolis, IN | $60,553,415 | $15,394,463 |
Oaks Academy Inc Indianapolis, IN | $7,476,421 | $17,454,996 |
Near North Montessori School Chicago, IL | $38,573,944 | $16,517,378 |
Madison Country Day School Inc Waunakee, WI | $14,581,268 | $10,698,482 |
Bsds Inc Kansas City, MO | $14,798,906 | $10,020,061 |
Community School Association Saint Louis, MO | $35,306,826 | $7,869,470 |
Morgan Park Academy Chicago, IL | $7,353,923 | $9,629,614 |
Elgin Academy Elgin, IL | $16,000,808 | $8,213,882 |