Wallace Stegner Academy
- Assets
- $49.1m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Salt Lake City, UT
- Founding
- 10/2015
- Data as of
- 06/2022
- EIN
- 47-3210780
Organization Overview
Wallace Stegner Academy is located in Salt Lake City, UT. The organization was established in 2015. 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. Wallace Stegner 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, Wallace Stegner Academy generated $12.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 24.8% each year . All expenses for the organization totaled $12.4m during the year ending 06/2022. While expenses have increased by 27.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE EDUCATION OF STUDENTS GRADES K-8.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WALLACE STEGNER ACADEMY WILL FOSTER A COMMUNITY OF ACADEMIC RIGOR AND CITIZENSHIP THROUGH ITS SCHOOL-WIDE CULTURE, AND CIVIC-BASED COMMUNITY INVOLVEMENT. OUR VISION IS TO CREATE A SCHOOL THAT WILL PROVIDE A CRITICAL AND RELIABLE ALTERNATIVE TO MAINSTREAM EDUCATION, ESPECIALLY FOR ENGLISH LEARNERS AND STUDENTS WHO STRUGGLE IN A TYPICAL CLASSROOM ENVIRONMENT. THE MAJORITY OF THE SCHOOL'S STUDENT POPULATION WILL READ AT GRADE LEVEL, DEPLOY ACADEMIC LANGUGE PROFICIENTLY, AND DEMONSTRATE DEVELOPMENTALLY PROFICIENT SKILLS IN WRITING AND MATHEMATICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Vaughan President | OfficerTrustee | 2 | $0 |
Jeremy Schow Secretary | OfficerTrustee | 2 | $0 |
Frank Magana Treasurer | OfficerTrustee | 2 | $0 |
Reed Farnsworth Member | Trustee | 2 | $0 |
Antonio Furano Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,017,428 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,754 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,044,182 |
| Total Program Service Revenue | $106,526 |
| Investment income | $5,894 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,574 |
| 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 | $12,160,176 |
| 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 | $492,062 |
| 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 | $359,836 |
| Advertising and promotion | $44,646 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $64,697 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,516,230 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $945,733 |
| Insurance | $25,142 |
| All other expenses | $1,048,003 |
| Total functional expenses | $12,443,791 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,247,672 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,171,986 |
| Accounts receivable, net | $10,185 |
| 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 | $25,670,198 |
| Investments—publicly traded securities | $20,044,941 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,144,982 |
| Accounts payable and accrued expenses | $837,186 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $32,196,901 |
| 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 | $237,463 |
| Other liabilities | $14,209,626 |
| Total liabilities | $47,481,176 |
| Net assets without donor restrictions | -$18,806,365 |
| Net assets with donor restrictions | $20,470,171 |
| 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 | $49,144,982 |