Wheaton Academy
- Assets
- $41.2m
- Revenue
- $19.0m
- Investments
- $0.0
- Employees
- 243
- Location
- West Chicago, IL
- Founding
- 01/1960
- Data as of
- 07/2021
- EIN
- 36-2388793
Organization Overview
Wheaton Academy is located in West Chicago, IL. The organization was established in 1960. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 07/2021, Wheaton Academy employed 243 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wheaton 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 07/2021, Wheaton Academy generated $19.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $18.1m during the year ending 07/2021. While expenses have increased by 2.6% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF AN ACCREDITED HIGH SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF ACCREDITED HIGH SCHOOL WITH AN ENROLLMENT OF APPROXIMATELY 661 STUDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Bult Head Of School / Trustee | OfficerTrustee | 40 | $186,279 |
Steve Karlson Coo/cfo | Officer | 40 | $153,725 |
Dr Eugene Frost Exec Director Wai & Waf | Trustee | 20 | $137,239 |
Kori Hockett Principal | 40 | $116,058 | |
Matthew Hockett Digital Communications Coordinator | 40 | $107,787 | |
Mark Anderson President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Joshua Expeditions Travel Services | 7/30/21 | $128,571 |
Servicemaster Clean Cleaning Service | 7/30/21 | $231,137 |
Daniel Home Builders Llc Building Contractor | 7/30/21 | $120,691 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $268,930 |
| Related organizations | $77,742 |
| Government grants | $385,623 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,798,524 |
| Noncash contributions included in lines 1a–1f | $54,044 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,530,819 |
| Total Program Service Revenue | $14,943,226 |
| Investment income | $82,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $407,972 |
| Net Gain/Loss on Asset Sales | $15,000 |
| Net Income from Fundraising Events | -$31,001 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$15,453 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,989,425 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $371,132 |
| Grants and other assistance to domestic individuals. | $4,044,916 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $552,979 |
| Compensation of current officers, directors, key employees. | $163,632 |
| Compensation to disqualified persons | $15,750 |
| Other salaries and wages | $5,614,910 |
| Pension plan accruals and contributions | $149,548 |
| Other employee benefits | $1,348,341 |
| Payroll taxes | $483,131 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,589 |
| Fees for services: Accounting | $27,598 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $790,988 |
| Advertising and promotion | $12,418 |
| Office expenses | $941,388 |
| Information technology | $143,722 |
| Royalties | $0 |
| Occupancy | $797,015 |
| Travel | $350,139 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $170,976 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,463,276 |
| Insurance | $139,759 |
| All other expenses | $172,455 |
| Total functional expenses | $18,103,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,859,804 |
| Savings and temporary cash investments | $16,094,242 |
| Pledges and grants receivable | $498,473 |
| Accounts receivable, net | $30,739 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,115 |
| Prepaid expenses and deferred charges | $170,614 |
| Net Land, buildings, and equipment | $22,407,678 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $148,218 |
| Total assets | $41,216,883 |
| Accounts payable and accrued expenses | $237,509 |
| Grants payable | $0 |
| Deferred revenue | $5,353,687 |
| Tax-exempt bond liabilities | $8,896,653 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $177,868 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $71,476 |
| Total liabilities | $14,737,193 |
| Net assets without donor restrictions | $25,426,855 |
| Net assets with donor restrictions | $1,052,835 |
| 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 | $41,216,883 |
Grants Awarded
Over the last fiscal year, Wheaton Academy has awarded $371,132 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
West Chicago, IL PURPOSE: Operating Funds | $353,115 |
West Chicago, IL PURPOSE: Operating Funds | $18,017 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Wheaton Academy has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
Billy J And Jeane S Martin Foundation Sarasota, FL PURPOSE: FUNDING | $3,000 |
Glastad Charitable Tr Succasunna, NJ PURPOSE: GENERAL SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $2,723,178 |
| Earnings | $624,462 |
| Admin Expense | $12,084 |
| Net Contributions | $261,200 |
| Other Expense | $11,397 |
| Grants | $77,742 |
| Ending Balance | $3,507,617 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Concept Schools Inc Schaumburg, IL | $73,509,189 | $54,687,645 |
Lake Forest Academy Lake Forest, IL | $113,447,241 | $34,795,522 |
John Burroughs School St Louis, MO | $206,476,145 | $33,752,535 |
Perspectives Charter School Chicago, IL | $57,974,185 | $31,269,423 |
Hope Christian Schools Inc Waukesha, WI | $8,169,327 | $30,403,375 |
Wheaton Academy West Chicago, IL | $41,216,883 | $18,989,425 |
Lexington School Inc Lexington, KY | $82,981,335 | $20,273,926 |
Westminster Christian Academy Association Town Country, MO | $72,930,151 | $20,133,441 |
Barstow School Kansas City, MO | $36,041,263 | $20,616,227 |
St Johns Northwestern Military Academy Inc Delafield, WI | $17,393,633 | $8,781,742 |
Trinity Schools Inc South Bend, IN | $7,029,834 | $13,749,929 |
Conserve School Corporation Land O Lakes, WI | $44,507,562 | $11,154,750 |