Terra Academy Inc
- Assets
- $15.0m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 140
- Location
- Vernal, UT
- Founding
- 03/2015
- Data as of
- 06/2022
- EIN
- 46-5495139
Organization Overview
Terra Academy Inc is located in Vernal, UT. The organization was established in 2015. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Terra Academy Inc employed 140 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Terra 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 06/2022, Terra Academy Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $6.3m during the year ending 06/2022. While expenses have increased by 5.3% 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
TERRA ACADEMY FOCUSES ON EACH STUDENT BY PROVIDING INDIVIDUALIZED INSTRUCTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PUBLIC CHARTER SCHOOL PROVIDING HIGH QUALITY INSTRUCTION BASED ON UTAH STATE REQUIRED CURRICULUM TO STUDENTS IN KINDERGARTEN-12TH GRADE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Wilson Director | Officer | 40 | $47,600 |
Jim Lamouth Board Chair | OfficerTrustee | 0.5 | $0 |
Rachelle Durrant Vice Board Chair | Trustee | 0.5 | $0 |
Loren Anderson Treasuer | Trustee | 0.5 | $0 |
Wes Porter Board Member | Trustee | 0.5 | $0 |
Kaydee Massey Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,553,575 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,293 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,572,868 |
| Total Program Service Revenue | $19,333 |
| Investment income | $4,386 |
| 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 | $6,596,587 |
| 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. | $103,887 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,242,416 |
| Pension plan accruals and contributions | $222,088 |
| Other employee benefits | $487,159 |
| Payroll taxes | $238,691 |
| Fees for services: Management | $18,000 |
| Fees for services: Legal | $1,178 |
| Fees for services: Accounting | $12,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,426 |
| Advertising and promotion | $868 |
| Office expenses | $1,464 |
| Information technology | $48,782 |
| Royalties | $0 |
| Occupancy | $105,246 |
| Travel | $17,569 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $320,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $445,855 |
| Insurance | $32,591 |
| All other expenses | $15,031 |
| Total functional expenses | $6,278,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,413,845 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $335,184 |
| Accounts receivable, net | $1,256 |
| 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 | $2,340 |
| Net Land, buildings, and equipment | $12,573,227 |
| Investments—publicly traded securities | $674,325 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,000,177 |
| Accounts payable and accrued expenses | $480,806 |
| 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 | $12,094,465 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,575,271 |
| Net assets without donor restrictions | $1,847,490 |
| Net assets with donor restrictions | $577,416 |
| 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 | $15,000,177 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Terra Academy Inc has recieved totaling $350.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $350 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association Of Christian Schools International Colorado Springs, CO | $18,742,731 | $17,834,465 |
Horizon Community Learning Center Inc Phoenix, AZ | $18,558,731 | $15,800,218 |
Cheyenne Mountain Charter Academy Colorado Springs, CO | $6,874,430 | $14,641,481 |
Gilbert Christian Schools Inc Gilbert, AZ | $7,847,673 | $15,216,131 |
Sun Valley Community School Inc Sun Valley, ID | $39,076,653 | $16,449,416 |
Heritage Academy Inc Mesa, AZ | $18,363,649 | $13,455,385 |
Kingman Academy Of Learning Kingman, AZ | $18,472,423 | $13,887,291 |
Legacy Traditional School-Queen Creek Chandler, AZ | $20,023,143 | $11,762,909 |
Idaho Arts Charter School Nampa, ID | $27,001,838 | $12,430,623 |
Legacy Traditional School- Avondale Inc Chandler, AZ | $23,043,250 | $12,125,697 |
Pan-American Elementary Charter School Phoenix, AZ | $37,196,562 | $11,678,522 |
Compass Public Charter School Inc Meridian, ID | $30,633,815 | $11,054,812 |