Monarch Academy Baltimore Campus Inc
- Assets
- $11.1m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 12/2012
- Data as of
- 06/2022
- EIN
- 45-2605141
Organization Overview
Monarch Academy Baltimore Campus Inc is located in Baltimore, MD. The organization was established in 2012. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monarch Academy Baltimore Campus 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 06/2022, Monarch Academy Baltimore Campus Inc generated $5.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (20.1%) per year over the past 7 years. 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
MONARCH ACADEMY PUBLIC CHARTER SCHOOLS ARE TUITION-FREE PUBLIC CHARTER SCHOOLS THAT AIM TO EDUCATE BALTIMORE STUDENTS TO BE SELF-MOTIVATED, CREATIVE, CRITICAL THINKERS AND LIFE-LONG LEARNERS WHO ARE PRODUCTIVE CONTRIBUTORS TO THE GLOBAL COMMUNITY IN THE 21ST CENTURY. AT MONARCH ACADEMY, CHILDREN ARE ENCOURAGED TO THINK CRITICALLY; QUESTION; REFLECT; AND PARTICIPATE IN A RIGOROUS, HIGHLY INTERACTIVE INSTRUCTIONAL PROGRAM THAT INTEGRATES ARTS AND TECHNOLOGY ACROSS THE CURRICULUM.THE ACADEMY'S CHARTER WAS NOT RENEWED AND THE SCHOOL CEASED OPERATIONS AT THE END OF THE 2018-2019 SCHOOL YEAR. THIS DECISION HAS BEEN APPEALED; ON FEBRUARY 2021 THE MSDE UPHELD THE DECISION NOT TO RENEW THE SCHOOL'S CHARTER. OPERATIONS FOR THE YEAR ENDED JUNE 30, 2022 REFLECT REVENUES FROM RENTING A PORTION OF THE BUILDING OFFSET BY THE COSTS OF MAINTAINING THE BUILDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY WAS INCORPORATED TO OPERATE A PUBLIC CHARTER SCHOOL IN BALTIMORE CITY FOR STUDENTS IN KINDERGARDEN THROUGH EIGHTH GRADE. THE ACADEMY'S CHARTER WAS NOT RENEWED AND THE SCHOOL CEASED OPERATIONS AT THE END OF THE 2018-2019 SCHOOL YEAR. THIS DECISION HAS BEEN APPEALED; ON FEBRUARY 2021 THE MSDE UPHELD THE DECISION NOT TO RENEW THE SCHOOL'S CHARTER. OPERATIONS FOR THE YEAR ENDED JUNE 30, 2022 REFLECT THE REVENUES FROM RENTING A PORTION OF THE BUILDING OFFSET BY THE COSTS OF MAINTAINING THE BUILDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawn Hart Chairperson | OfficerTrustee | 2 | $0 |
David Borinsky Director | Trustee | 2 | $0 |
Elaine Clinton Director | Trustee | 2 | $0 |
Gregory E Gann ESQ Director | Trustee | 2 | $0 |
Wingrove Lynton Director | Trustee | 2 | $0 |
Caitlin O'hara Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Poinsette Bus Services | 6/29/18 | $376,184 |
Safeguard Maintenance | 6/29/18 | $190,866 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,237 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,237 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $833,574 |
| 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 | $5,668,871 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $529 |
| Advertising and promotion | $0 |
| Office expenses | $6,196 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $308,050 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $360 |
| Interest | $451,814 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,183,582 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,957,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,417 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $55,927 |
| 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 | $0 |
| Net Land, buildings, and equipment | $10,800,967 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $173,371 |
| Total assets | $11,110,682 |
| Accounts payable and accrued expenses | $60,895 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $12,681,215 |
| Total liabilities | $12,742,110 |
| Net assets without donor restrictions | -$1,631,428 |
| 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 | $11,110,682 |