Fit Academy
- Assets
- $3.4m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 81
- Location
- Apple Valley, MN
- Founding
- 02/2016
- Data as of
- 06/2021
- EIN
- 47-4006097
Organization Overview
Fit Academy is located in Apple Valley, MN. The organization was established in 2016. As of 06/2021, Fit Academy employed 81 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fit 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 06/2021, Fit Academy generated $4.4m in total revenue. All expenses for the organization totaled $4.5m during the year ending 06/2021. While expenses have increased by 94.6% per year over the past 5 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
THE PURPOSE OF FIT ACADEMY IS TO PREPARE THE WHOLE STUDENT FOR LIFE. THE ACADEMY BELIEVES IT EMPOWERS STUDENTS TO LIVE FULFILLING, RESPONSIBLE, AND SUCCESSFUL LIVES BY INTEGRATING THE THREE DEVELOPMENTAL AREAS OF FITNESS, INTELLECT, AND TEAMWORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL CONTINUES TO GROW ITS STUDENT ENROLLMENT HAVING ADDED GRADE 11 DURING THE YEAR. AS THE SCHOOL'S ENROLLMENT CONTINUES TO GROW, SO DOES ITS PROGRAMS REQUIRED TO SERVE THOSE STUDENTS. THIS HAS RESULTED IN AN INCREASE IN THE NUMBER OF STAFF EMPLOYED AT THE SCHOOL.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claud Allaire Executive Director | Officer | 40 | $110,000 |
Angie Halama Secretary | OfficerTrustee | 40 | $66,258 |
Shannon Baker Member | Trustee | 40 | $57,083 |
Bill Schneider Treasurer | OfficerTrustee | 2 | $0 |
Jan Markison Chair | OfficerTrustee | 5 | $0 |
Megan Olson Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,010,490 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,987 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,021,477 |
| Total Program Service Revenue | $11,088 |
| Investment income | $0 |
| 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 | $319 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,405,584 |
| 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. | $238,406 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,906,581 |
| Pension plan accruals and contributions | $622,983 |
| Other employee benefits | $248,574 |
| Payroll taxes | $157,691 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,146 |
| Fees for services: Accounting | $84,332 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $243,104 |
| Advertising and promotion | $6,081 |
| Office expenses | $18,907 |
| Information technology | $47,575 |
| Royalties | $0 |
| Occupancy | $500,419 |
| Travel | $67,012 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $109 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,768 |
| Insurance | $17,166 |
| All other expenses | $52,877 |
| Total functional expenses | $4,455,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $238,026 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $547,630 |
| 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 | $41,457 |
| Net Land, buildings, and equipment | $211,226 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,382,322 |
| Total assets | $3,420,661 |
| Accounts payable and accrued expenses | $427,225 |
| Grants payable | $0 |
| Deferred revenue | $6,547 |
| 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 | $120,700 |
| Other liabilities | $2,989,585 |
| Total liabilities | $3,544,057 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$334,622 |
| Paid-in or capital surplus, or land, building, or equipment fund | $211,226 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,420,661 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fit Academy has recieved totaling $6,670.
| Awarding Organization | Amount |
|---|---|
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $6,670 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinese American Service League Inc Chicago, IL | $15,835,299 | $20,315,146 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Blackburn University Carlinville, IL | $69,417,787 | $20,572,819 |
Montgomery Place Chicago, IL | $31,885,880 | $16,111,662 |
Region 3b Area Agency On Aging Battle Creek, MI | $12,282,051 | $21,229,876 |
Southwest Counseling Solutions Inc Detroit, MI | $10,435,524 | $23,926,279 |
Human Resources Development Institute Inc Chicago, IL | $14,371,854 | $24,270,043 |
Duluth Regional Care Center Inc Duluth, MN | $17,149,445 | $20,614,667 |